Starting December, elevators in India will feature automatic door locking and speed governors, enhancing safety. The new lift code, mandated by the Bureau of Indian Standards by December 2025, aligns with European standards. These upgrades include improved structural integrity, emergency communication, and safety for technicians, impacting states lacking lift laws.
Following the ban on online money games in India, over 2,000 gaming professionals are seeking new opportunities due to uncertainty. While widespread layoffs haven’t occurred, companies are pivoting, impacting employee sentiment and prompting job searches. Non-tech roles face challenges, but tech talent remains in demand as firms explore new business models.
Despite RBI’s rate cuts, loan rates haven’t significantly decreased due to rising bond yields. This divergence is fueled by long-term inflation expectations, the closing of a key liquidity channel, and anticipated marginal rate cuts. Market players worry about potential revenue losses from GST cuts and increased government borrowing, further impacting bond yields.
Despite a 50-basis point repo rate cut by the RBI in June 2025, banks’ weighted average lending rates (WALR) on new loans increased to 8.8% in July, up from 8.62% in June. This divergence from past trends is attributed to a higher proportion of high-yielding loans to MSMEs.
Team GST is convening to address the tax slabs on various services, including hotel rooms, air travel, and banking, with potential rate adjustments under consideration. While some services like casino entry fees may face higher taxes, there’s a push to ease rates on common services like apartment maintenance charges.
E-commerce sellers on platforms like Amazon and Flipkart are facing uncertainty regarding GST slab changes ahead of the festive season sales. Concerns include delays in reflecting updated tax rates on platforms, discrepancies in invoicing, and issues with product returns due to rate differences.
RBI Deputy Governor M Rajeshwar Rao inaugurated a cyber security awareness walkathon in Chandigarh, emphasizing the responsible use of digital banking platforms. The event, organized by the Bankers’ Club, aimed to promote safe banking practices amid the increasing adoption of digital payments. Rao also encouraged the public to verify currency notes using the ‘look, touch,…
The Trump family’s new crypto venture, World Liberty Financial (WLFI), faces scrutiny over a $750 million deal where it sold its cryptocurrency to Alt5 Sigma, a firm it recently acquired. This arrangement could net the Trumps $500 million. Experts are raising concerns about potential risks to investors due to the circular nature of the transaction.
India’s gems and jewellery industry faces a crisis as the US imposes 50% tariffs, disrupting diamond exports. The GJEPC urges the Centre for immediate relief, including credit extensions and moratoriums, to cushion exporters. With potential job losses in Surat, the council seeks policy and monetary interventions, hoping for a swift resolution considering the broader India-US…
Gold prices face a crucial test after hitting record highs in India, influenced by global macroeconomic cues and Federal Reserve signals. A weaker rupee and geopolitical tensions have fueled the rally, but analysts warn of potential near-term corrections. Festive demand and hopes for monetary easing support a constructive long-term outlook, though volatility is expected.
