RBI guv tells banks to build meaningful human oversight into AI Banks must ensure that humans remain accountable for decisions made with the help of artificial intelligence, Reserve Bank governor Sanjay Malhotra said on Tuesday, warning lenders against treating algorithms or technology vendors as responsible for their actions.Speaking at the annual Fibac event in the…
Fitch projected India’s GDP growth at 6.4 per cent for the current financial year. Fitch Ratings on Tuesday reaffirmed India’s sovereign credit rating at ‘BBB-‘ with a stable outlook. This extends India’s unchanged rating at the lowest investment-grade level to a 20th consecutive year.“Fitch Ratings has affirmed India’s Long-Term Issuer Default Ratings (IDRs) at BBB-…
July was the 65th consecutive month in which equity-oriented schemes registered positive inflows. Equity mutual fund investments slowed in July as concerns over valuations and subdued equity returns made investors more selective. Inflows into equity-oriented schemes fell 15 per cent from the previous month to Rs 24,697 crore, according to data released by industry body…
India’s net direct tax collections jumped 23.09% to Rs 8.11 lakh crore by August 10, 2026, up from Rs 6.59 lakh crore in the same period last year, data released by the income tax department showed.The latest figures put the increase in net tax receipts at Rs 1.52 lakh crore over the comparable period of…
Corporate earnings have consistently surpassed market forecasts, a trend welcomed by investors. US stock market today: Wall Street benchmarks traded close to record levels on Tuesday as investors awaited fresh inflation data, while oil prices remained volatile amid continued uncertainty over when the conflict with Iran would allow crude exports to resume freely.The S&P 500…
If an MDR is introduced in the future it will only be applicable to a limited category of merchant transactions with the rate being nominal Unified Payments Interface or UPI transactions have become an important backbone of the digital payments economy in India. With wide adoption and transactions running into several lakh crore every month,…
The Adani Group has consistently rejected the allegations, describing them as baseless. The criminal securities fraud case against Adani Group chairman Gautam Adani and his nephew Sagar Adani has been permanently dismissed by a US federal judge, bringing to an end nearly two years of prosecution without the matter going to trial.US District Judge Nicholas…
Russian crude made up 87 per cent of India’s total fossil fuel imports from Russia during the month. India’s purchases of Russian crude oil reached a fresh record in July for the second straight month, according to data compiled by the Centre for Research on Energy and Clean Air (CREA). This highlights India’s continued preference…
Rs 10 and Rs 20 denomination polymer notes to be introduced for field trial India is set to trade in polymer banknotes soon, with the government approving the Reserve Bank of India’s proposal to release one billion pieces each of Rs 10 and Rs 20 denomination notes for field trials.The proposal, submitted by the RBI’s…
Enforcement against offenders has also intensified. NEW DELHI: India’s fight against spam is getting more aggressive. Telecom operators flagged 24.4 billion calls and messages as suspected spam during April-June, while regulatory action was taken against more than 1.8 lakh telecom resources, according to data released by Trai.AI-based systems deployed by telecom operators identified 22.9 billion…
