India and Oman are poised to finalize and sign their free trade agreement (FTA), potentially sooner than anticipated. The agreement, known as the Comprehensive Economic Partnership Agreement (CEPA), aims to reduce trade barriers and boost investments. With bilateral trade exceeding $10 billion, this pact will further strengthen economic ties, building on India’s existing trade agreement…
To ease Diwali and Chhath rush, railways introduces a ‘Round Trip Package’ offering a 20% fare rebate on return journeys booked together. Bookings open August 14, 2025, for onward travel between October 13-26, 2025, and return travel between November 17-December 1. The scheme aims to manage passenger traffic, improve train utilization, and benefit passengers planning…
ICICI Bank has raised the minimum average balance requirement for new savings accounts opened from August 1st. The new MAB is Rs 50,000 for metro/urban, Rs 25,000 for semi-urban, and Rs 10,000 for rural locations.
The US Commerce Department has granted Nvidia licenses to export its H20 chips to China, reversing an earlier ban. This decision follows Nvidia’s design of the H20 to comply with US export rules. CEO Jensen Huang’s meeting with US President Donald Trump preceded the approval.
AU Small Finance Bank’s promoters will transfer shares to a non-operative holding company, fulfilling RBI’s requirements for its transition to a universal bank. Following in-principle approval from the RBI, the bank will also relocate its corporate headquarters from Jaipur to Mumbai. This structure allows the CEO to explore other financial services.
HDFC Bank’s CEO, Sashidhar Jagdishan, expressed reservations about reverse mortgage loans in India, citing legal and operational challenges. He highlighted ongoing tech upgrades, including a new mobile app and net banking interface, with AI implementation focused on efficiency without replacing human judgment. Deposit mobilization efforts have impacted the bank’s CASA ratio post-merger.
State Bank of India’s Q1 FY26 consolidated profit rose 9.7% to Rs 21,201 crore, fueled by strong treasury and forex income. While advances grew 11.6%, net interest income slightly decreased due to margin contraction. The bank anticipates a U-shaped recovery in NIMs and maintains its FY26 loan and deposit growth guidance at 12% and 10%,…
Piyush Goyal asserted India’s resilience, stating it won’t bow down to anyone and will capitalize on global trade restructuring. He expressed confidence in India’s economic strength and ability to find opportunities amidst crises like potential Trump tariffs. Goyal highlighted India’s growing global recognition and attractiveness as a market, dismissing concerns about its economic status.
