MUMBAI: Oil prices have shot up to $114 a barrel from below $85 in June and July, exposing India to multiple shocks as trade, technology and energy risks increasingly reinforce one another, chief economic adviser V Anantha Nageswaran said on Thursday.Speaking at the SBI Banking and Economics Conclave, Nageswaran said India’s imported crude basket had…
MUMBAI: RBI deputy governor Rohit Jain on Thursday said banks are expected to deploy additional liquidity from foreign currency non-resident deposits over the next few months, as credit demand is likely to be strong during the festive season.Under the special Foreign Currency Non-Resident (FCNR-B) deposit scheme, banks have mobilised $133 billion. The scheme closed on…
NEW DELHI: India can manufacture enough smartphone screen protectors to meet its needs, IT secretary S Krishnan said, arguing that inferior imports should not erode the business of domestic producers investing in quality.“We now have enough production capacity in the country for this category of equipment,” Krishnan said on Thursday on the sidelines of an…
MUMBAI: The board of market regulator Sebi on Thursday decided to allow foreign funds in the non-agri commodity derivatives segment provided all contracts that are not based on indices are cash settled. For index-based derivatives, there are no such barriers. Allowing foreign portfolio investors (FPIs) in this segment was one of the main demands of…
A host of insurance companies and insurance policy sellers slid as much as 36% on Thursday. Mumbai: A host of insurance companies and insurance policy sellers slid as much as 36% on Thursday after the industry regulator Irdai suggested new policy distribution methods that, among others, ban dark patterns and several other changes to how…
MUMBAI: The rupee weakened by 26 paise to settle at 95.99 against the US dollar on Thursday, dragged by a surge in crude oil prices and a strong greenback amid geopolitical uncertainties. According to forex traders, the domestic currency was also weighed down by heavy selling in domestic equity markets as investors moved toward risk…
MUMBAI: UPI’s new merchant fee is intended to recover some of the cost that the payments system has so far absorbed. Dilip Asbe, MD & CEO of NPCI, put the annual cost to the banking system at about Rs 21,000 crore, including Rs 2,000 crore to Rs 3,000 crore for SBI. In a fireside chat…
NEW DELHI: Govt on Thursday said the merchant discount rate (MDR) on UPI payments should be treated the same way as plastic payments, which are not passed on to consumers and will ask the Indian Bank Association (IBA) to ensure that merchants don’t burden customers once the new regime kicks in next month. Govt is…
MUMBAI: Tata Sons has formally rebuffed Noel Tata’s objections to N Chandrasekaran‘s reappointment as chairman, backing the Sept 17 board decision with legal opinions from three lawyers – senior advocate Sudipto Sarkar, former Chief Justice of India Uday Lalit, and former Supreme Court judge B N Srikrishna. The company said the vote was validly carried…
At the TOI Social Impact Summit 2026, government and business leaders discussed responsible growth, sustainable business models, philanthropy, ESG and the role of capital markets in creating social impact.India needs affordable, locally developed solutions to address some of its most pressing social and environmental challenges, Union Minister of Commerce and Industry Piyush Goyal said at…
