Bank holiday today: Banks across India, including the State Bank of India (SBI), remain closed during holidays mandated by the Reserve Bank of India (RBI). These holidays also comprise the second and fourth Saturdays of each month, and all Sundays in the month. Thus, in this week, banks will next be closed today and tomorrow…
Union Home Minister Amit Shah on Thursday highlighted the substantial reforms in the country’s banking sector. He noted that some 86 key measures have now been implemented, which have strengthened the sector’s foundations. Shah also revealed that over 53 crore bank accounts have been opened since 2014, a move that has helped to promote financial…
Mumbai: Standard Chartered has tied up with the Clearing Corporation of India Ltd (CCIL) and International Financial Services Centres Authority (IFSCA) as the sole partner to settle and clear dollar-denominated trades on the latter’s soon-to-be launched dollar clearing platform. The platform, set to launch on 7 October, is a clearing mechanism that will allow dollar…
By Laila Kearney and Timothy Gardner NEW YORK (Reuters) -The administration of U.S. President Donald Trump expects most of the nation’s coal-fired power plants to delay retirement to help deliver the vast amount of electricity needed to fuel artificial intelligence, Energy Secretary Chris Wright told Reuters on Thursday. Keeping those often half-century-old coal plants running…
The new rule, which mandates that employers pay a staggering $100,000 fee for each first-time H-1B visa applicant, threatens to cost the country’s top IT services companies billions of dollars and has left thousands of employees in limbo. In response, law firms across India are brainstorming on reworking termination clauses, exploring alternate visa routes, and…
The time spent watching content on the American multimedia instant messaging app has doubled in India over the past two years, boosted by its efforts to customize the service and deepen engagement with Gen Z, whom it views as its key target audience, a top company official said. The company declined to share the exact…
However, at least one industry expert flagged a legal ambiguity related to generic drugs that are sold under brand names such as Crocin, saying these could face tariffs if treated as branded imports. While the industry decodes the implications, New Delhi is examining the potential impact of Trump’s decision on India’s generic drugs exported to…
MUMBAI : US President Donald Trump’s trade tariffs and sudden changes to the H-1B visa process are just friction points in India’s growth trajectory, given the country’s young population and strong consumption drivers, according to a senior JPMorgan executive. “They’re just speed bumps. Growth is never a linear, straight line. There’s always going to be…
Indian pharmaceutical exports, including generic drugs, are unlikely to be affected by US President Donald Trump’s recent announcement of 100 per cent tariffs on “any branded or patented” drugs imported into the US from October 1. Even though generic drugs are exempt, companies remain uncertain about tariffs due to a US government investigation under Section…
Continuing his policy of imposing tariffs on imports, US President Donald Trump on Thursday announced 100% duties on branded drugs from 1 October. The move is unlikely to impact India, as the country is a major player in generic medicines and vaccines. Nevertheless, the decision has caused jitters. According to a report by Brickwork Research,…