Elon Musk posted on X that Starlink “will do its best to serve the people of India”. Elon Musk, the owner of Starlink, a global satellite constellation, has expressed commitment to serving the people of India through a post on X. This statement follows the Indian government’s decision to allocate spectrum for satellite broadband administratively,…
The rainsets will be the first indigenously designed and manufactured in India, with a test speed of 280 kmph. (AI image) India’s first indigenous high-speed train soon! In a big boost for Indian Railways’ dreams of offering high-speed rail connectivity, the national transporter has awarded the contract for manufacturing high-speed trainsets to BEML.These trainsets will…
MUMBAI: RBI governor Shaktikanta Das cautioned against unchecked use of artificial intelligence and machine learning in banking, saying it poses risks like market concentration, systemic instability, and increased vulnerability to cyberattacks.“Heavy reliance on AI can lead to concentration risks, especially when a small number of tech providers dominate the market.This could amplify systemic risks, as…
NEW DELHI: Retail inflation surged to a 9-month high in Sept on the back of a sharp spike in food prices, particularly vegetables, edible oils and pulses, dashing hopes of any interest rate cut for now.Data released by the National Statistics Office (NSO) on Monday showed the retail inflation, as measured by the consumer price…
NEW DELHI: Beginning January next year, government will make hallmarking of all gold bullion mandatory. The new regulation will be applicable on all gold bullion, including imports, and will be rolled out in a phased manner.“There is a consensus among all stakeholders and we are confident of making hallmarking mandatory for gold bullion next year….
RIL Q2 results: Revenue from operations saw a slight increase of 0.2% year-on-year (YoY), reaching Rs 2.35 lakh crore. RIL Q2 FY25 results: Reliance Industries Ltd (RIL), owned by Mukesh Ambani, announced on Monday a decrease of 5% in its consolidated net profit for the quarter that ended in September 2024, amounting to Rs 16,563…
MUMBAI: Foreign portfolio investors have sold Rs 58,711 crore ($7 billion) worth of equity in Oct, being net sellers in all eight trading sessions so far. In Sept, FPI investments had reached a nine-month high of Rs 57,724 crore.FPIs also offloaded Indian bonds, though net bond sales were modest at Rs 709 crore due to…
High food inflation has been a challenge for policymakers. Food has a high share of 45.9% in the consumer price index and supply shocks influence the overall retail inflation numbers. The focus in recent months has been on the surge in tomato, onion and potato (TOP) prices. TOP accounts for 4.8% in the retail food…
Central Consumer Protection Authority on Sunday has directed Ola to develop a mechanism which would provide consumers with choice regarding the refund mode. According to the directive, consumers may choose refund via bank account or coupon in Grievance Redressal Process.The directive follows a show-cause notice issued by the Central Consumer Protection Authority to Ola earlier…
MUMBAI: The rupee breached the 84/dollar mark for the first time Friday, settling at 84.06, down 12 paise from Thursday’s close of 83.94. Opening at 83.98, the currency touched an intraday record low of 84.07.The breach of the 84 level is significant as RBI had defended this threshold for over two months. Friday’s intervention marked…
