The Reserve Bank of India has begun consultations with banks on creating a uniform disclosure format for service charges and removing overlapping fees, as the regulator steps up efforts to streamline customer-facing charges, people familiar with the matter told ET.A senior bank executive said the discussions include having a standardised template that clearly itemises service…
India’s rural centres are now leading the country’s fixed deposit (FD) expansion, reversing a trend that long saw metropolitan areas driving deposit growth, according to the Reserve Bank of India’s latest data.Rural FD balances jumped 14% year-on-year to Rs 9.7 lakh crore in the September quarter, significantly outpacing the 10% rise in metro centres to…
The Reserve Bank on Thursday injected Rs 50,000 crore liquidity through Open Market Operation (OMO) purchases of government securities.Against the notified amount of Rs 50,000 crore, the total amount offered is Rs 1,11,615 crore, the RBI said in a statement.Earlier this month, the Reserve Bank announced OMO purchases of government securities of Rs 1,00,000 crore…
NEW DELHI: A local court on Thursday sentenced one person to death and awarded life imprisonment to nine others for the murder committed during communal violence last year in Maharajganj town during a Durga idol immersion procession.The violence took place on October 13 last year, when 21-year-old Ramgopal Mishra was shot dead as a communal…
India’s long-term economic outlook could fundamentally reshape the corporate landscape over the next two decades, Motilal Oswal Financial Services has said in a new report, identifying 30 companies it believes are best placed to benefit from what it calls the country’s “next multi-decade growth era”, ET reported.The brokerage expects India’s GDP to rise from $4…
Investors are cheering early signals that Elon Musk’s SpaceX may head for an initial public offering next year, in what some market participants told Reuters could become the “craziest IPO in the history of the stock market.” The rocket and satellite company, long considered one of the world’s most valuable private firms, is exploring a…
US applications for unemployment benefits rose sharply last week, although filings remain within the historically low range seen in recent years despite growing concerns over labour-market momentum.The Labor Department said on Thursday that jobless claims for the week ending December 6 increased by 44,000 to 236,000, up from 192,000 in the previous week and exceeding…
Led by President Nayib Bukele, El Salvador, the first country to make bitcoin legal tender, is now looking to position itself at the forefront of artificial intelligence, teaming with Elon Musk’s xAI to launch the world’s first national AI-powered public education system. The government will deploy xAI’s Grok chatbot to more than 5,000 public schools…
CHANDIGARH: Dinesh Khatak, second-in-command (2-IC) of the 196 Battalion, Central Reserve Police Force (CRPF), has been honoured with the prestigious “Kendriya Grah Mantri Dakshata Padak” (Union Home Minister’s Efficiency Medal) for his outstanding service, discipline, and remarkable contribution to national security. The award, given by the Ministry of Home Affairs (MHA), recognizes personnel who demonstrate…
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