MUMBAI: The RBI has proposed changes to its master direction on ‘know your customer’ norms-rules aimed at preventing money laundering-that will ease compliance for millions of bank customers, particularly low-risk individuals and beneficiaries of govt schemes. The draft circular outlines relaxed procedures for periodic KYC updates, responding to concerns over delays and customer complaints.The proposed…
In 2024, more than 1.65 lakh Schengen visa applications from India were denied, resulting in a financial loss of nearly Rs 136 crore in non-refundable fees. With each application costing an average of €85 (Rs 8,270), India ranked third globally in terms of money lost to visa rejections, after Algeria and Turkey, according to data…
The Indian rupee broke a three-day losing streak on Friday, appreciating by 50 paise to settle at Rs 85.45 against the US dollar, buoyed by a sharp decline in the dollar index and strong performance in domestic equities.A rise in global risk appetite also supported the local currency, despite lingering pressure from crude oil prices…
Wipro Executive Chairman Rishad Premji’s remuneration more than doubled to $1.6 million (about Rs 13.7 crore) but was still less than company CEO Srinivas Pallia’s earnings of $6.2 million (about Rs 53.64 crore) in the fiscal year ended March 31, 2025, according to the company’s latest annual report.Premji, in the fiscal year 2023-24, did not…
Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Friday, driven by buying in heavyweight stocks such as Reliance Industries, HDFC Bank, and ITC.Investor sentiment was further supported by expectations of a record dividend from the Reserve Bank of India (RBI) and easing US treasury yields, traders said.After a flat…
India, US push to finalise interim trade deal by July 8 as ministers hold talks in Washington NEW DELHI: Commerce and industry minister Piyush Goyal on Friday held his second round of discussions with US commerce secretary Howard Lutnick in Washington, as India and the US look to seal bilateral trade pact by July 8….
Gold rate today: Some experts believe that safe-haven demand for precious metals may persist due to weakness in global equities. (AI image) Gold rate today: Gold June futures at MCX initiated trading steady with an upward inclination at Rs 95,600/10 grams, reaching their highest point in two weeks, despite experiencing some profit-taking influenced by global…
Asian stock markets calmed on Friday after a rough day, helped by a drop in US bond yields and hopes for more economic stability. Investors were watching closely after US President Donald Trump‘s new tax-cutting budget passed a key vote in the House of Representatives.The bill, called the “One Big, Beautiful Bill Act,” extends Trump’s…
Top stocks to buy today (AI image) Stock market recommendations: According to Bajaj Broking Research, NMDC and Polyplex Corp are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for May 23, 2025:Index View: NIFTYIndian equity markets traded with downward bias during the current week weighed…
The consumer protection regulator CCPA has launched an investigation into ride-sharing services Ola Cabs and Rapido regarding potential unfair trade practices involving ‘advance tipping’. This follows CCPA’s notice to Uber on Wednesday regarding allegations of pressuring customers to provide tips before service completion.Union consumer affairs minister Pralhad Joshi announced on X on Thursday: “CCPA is…