Indian Commerce Minister Piyush Goyal held “constructive” talks with US trade officials on a proposed trade deal, agreeing to continue engagements for an early conclusion. The discussions addressed impasses like India’s Russian oil purchases and farm tariffs, with Goyal suggesting increased US energy trade despite India’s firm stance.
Govt: India-US trade deal talks ‘constructive’ Read More »
The RBI has introduced new rules simplifying claims for deceased bank customers, allowing nominees to claim up to Rs 15 lakh from banks and Rs 5 lakh from co-operative banks. These standardized procedures cover deposits, lockers, and safe custody items. Banks must settle claims within 15 days, with penalties for delays.
Deposit claims up to Rs 15L get easier for kin of deceased Read More »
Finance Minister Nirmala Sitharaman urged banks with strong balance sheets to increase lending for public infrastructure, industry, and MSMEs, emphasizing their crucial role amid global uncertainty. She highlighted India’s resilience due to strong economic fundamentals and urged public sector banks to maintain professional management and customer-centric approaches. The government is emphasizing increased capital for MSMEs
Step up lending for public infra, MSMEs: FM Sitharaman to banks Read More »
Standard Chartered India CEO P D Singh highlights the potential of rupee invoicing in the India-Middle East trade corridor, drawing parallels with the Chinese yuan’s adoption in solar equipment trade. The bank is also expanding its forex clearing capabilities, launching US dollar clearing from GIFT City.
Rupee invoicing picking up in Middle East: StanChart’s Singh Read More »
Accenture CEO Julie Sweet downplayed H-1B visa concerns, stating only 5% of their US workforce relies on them. The company’s headcount decreased by 11,419 in Q4, part of a business optimization program involving talent rotation and divestitures. Despite this, FY25 revenue rose 7%, with growth across all verticals and geographies, and the operating margin expanded
Just 5% of US staff on H-1B visas: Accenture Read More »
A recent study indicates India’s logistics cost stands at 8% of GDP, disproportionately affecting smaller firms, where it can reach 16% of output. Larger companies, however, experience a lower cost of 7.6%. The transport equipment sector faces the highest logistics burden at 21.4% of total output, while coastal shipping offers the lowest per-tonne-km cost.
‘Logistics cost at 8% of GDP, more burden on small cos’ Read More »
