Starting January 1, 2026, the RBI mandates banks to settle claims of deceased customers within 15 days with complete documentation. Failure to comply results in penalties: interest on deposit delays and a daily charge for locker access delays. This initiative aims to streamline the process, reduce unclaimed deposits, and ensure grieving families promptly receive funds…
Despite initial concerns over increased US tariffs, Indian markets closed higher due to late buying and positive news, including potential peace talks and upcoming visits by global leaders. While some sectors like textiles and engineering faced setbacks, optimism surrounding international relations boosted auto, pharma, metals, and energy stocks.
Indian exporters are accelerating shipments to the US ahead of an August 27 deadline, fearing a duty hike to 50%. A three-way split of the initial 25% tariff is in place, but concerns remain, especially for smaller businesses with less bargaining power.
The Bank of England reduced interest rates to 4% due to economic concerns. This is the fifth cut since August 2024. The move aims to counter rising US tariffs and domestic tax hikes. Inflation rose to 3.6% in June. Growth forecast is slightly up to 1.25%. The decision faced division within the Monetary Policy Committee….
Biocon’s consolidated net profit plummeted by 95% to Rs 31 crore in the June quarter, with total revenue declining to Rs 4,022 crore. Despite this, operating revenue increased by 15% YoY, driven by Biosimilars and CRDMO gains. A recent QIP has strengthened the balance sheet, enabling increased ownership in Biocon Biologics and positioning the company…
Amitabh Kant views the US tariff hike on Indian goods as a chance to accelerate economic reforms. Donald Trump’s decision, linking tariffs to India’s Russia ties, doubles duties on various exports, potentially impacting sectors like textiles and gems. This move precedes trade negotiations, where the US seeks concessions from India.
Asian equities experienced a resurgence in July, fueled by AI interest and improved US trade relations. Taiwan saw a record $7.78 billion inflow, while South Korea had its best month since February. Thailand ended a nine-month outflow streak, though challenges remain. India, Indonesia, and the Philippines saw outflows, while Vietnam attracted funds due to strong…
A senior Indian diplomat criticised the United States for imposing 50% tariffs on Indian exports. The US cited India’s continued import of discounted Russian oil as the reason. India called the move unfair. Despite the tensions, India will continue trade negotiations with the US. India is confident that solutions will be found.
Amid strained relations with the US, Prime Minister Modi is set to engage with Brazil’s President Lula and visit China in August. As founding members of BRICS, India, Brazil, China and Russia have faced criticism from Trump.
President Trump’s imposition of a 50% tariff on Indian imports, allegedly due to oil purchases from Russia, has ignited a major dispute. India has strongly condemned the move, raising concerns about the future of the Quad alliance and potentially pushing India closer to China and Russia. This action risks unraveling years of strategic partnership and…
