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Unclaimed deposits over Rs 78,000 crore! New simplified process for account holders, nominees soon to retrieve money

Banks are implementing new RBI guidelines for unclaimed deposits and inactive accounts, effective April 1. (AI image) Banks across India will introduce a new format to help account holders or nominees recover unclaimed deposits exceeding ₹78,213 crore, according to informed sources. Banks are implementing new RBI guidelines for unclaimed deposits and inactive accounts, effective April … Read more

Defence production hit Rs 1.27 lakh crore in FY 2023-24, exports cross Rs 21,000 crore

India’s defence production has reached a record Rs 1.27 lakh crore in FY 2023-24, the Ministry of Defence said in a release on Tuesday. According to the ministry, the defence exports hit a record Rs 21,083 crore in FY 2023-24, expanding 30 times in a decade, with exports to 100+ countries. As per the ministry, … Read more

India orders Samsung, its executives to pay $601 million in back taxes and penalties for telecom imports

The tax demand constitutes a significant portion of Samsung’s net profit in India, which stood at $955 million last year. (AFP Photo) India’s tax authorities have demanded Samsung and its local executives to pay $601 million as back taxes and penalties for allegedly evading tariffs whilst importing essential telecommunications equipment, a Reuters report says. This … Read more

In voyage to make America great again, is Trump disrupting the great American dream?

While headlines have predominantly focused on Trump’s actions toward foreign governments during his first 60 days in the White House, the more significant story may lie within the impact of “Trumpism” on the country itself. The values and principles that have traditionally made America great are now facing serious challenges. Here’s a closer look at … Read more

Cabinet clears ₹1500-crore incentive for UPI, new fertilizer plant, highway, and revised dairy schemes

The union cabinet chaired by prime minister Narendra Modi on Wednesday cleared projects worth ₹22,791 crore for the continuation of the Centre’s UPI incentive, building a new urea plant in Assam as well as a new highway to boost port connectivity in Maharashtra, and development of dairy farming. Union minister of information and broadcasting Ashwini … Read more

How Donald Trump may have helped Google in its biggest acquisition ever of Wiz for $32 billion

\Google’s massive $32 billion acquisition of cybersecurity firm Wiz gained significant momentum after Donald Trump’s presidential inauguration in January, with executives from both companies accelerating negotiations amid expectations of a more favorable regulatory environment under the new administration. According to Reuters reporting, Google not only sweetened its original $23 billion offer from July to $32 … Read more

China welcomes Modi’s positive remarks on ties

India and China should be partners contributing to each other’s success and a cooperative “pas de deux” between the dragon and the elephant is the only right choice for the two countries, Beijing said while welcoming PM Modi’s “positive” remarks in a podcast in which he had endorsed signs of a rapprochement in ties since … Read more

GST rate cut, slabs review in works, says Finance Minister Nirmala Sitharaman

Finance minister Nirmala Sitharaman said India is close to taking a final call on reducing goods and services tax (GST) rates further and reviewing the levy’s slabs. The revenue neutral rate had dropped from 15.8% when GST was introduced in 2017, to 11.4% by 2023, she said at the 25th ET Awards for Corporate Excellence … Read more

India’s services sector growth sees sharp uptick in February: PMI

India’s services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday (March 5, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January’s 26-month low … Read more