The Reserve Bank of India on Tuesday updated its “guidance note” on operational risk management for the financial sector, and also extended it to the NBFCs, including housing finance companies. The 2005 ‘Guidance Note on Management of Operational Risk’ covered only commercial banks. The Reserve Bank of India (RBI) said an operational disruption can threaten … Read more
The founding family of 127-year-old Godrej Group, which spans from soaps and home appliances to real estate, has reached an agreement to split the conglomerate, with Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well … Read more
Gems and jewellery exports, one of the largest categories in India’s export basket, ended FY24 with a steep decline, sinking to its lowest levels in three years due to lower global demand. According to data from the commerce ministry’s Niryat portal, gems and jewellery exports stood at $32.71 billion during FY24, down from $37.96 billion … Read more
The top US auto-safety regulator is again investigating Tesla Inc.’s Autopilot, this time over whether a fix deployed months ago did enough to stop people from misusing the system. The National Highway Traffic Safety Administration disclosed Friday that it’s opened a query into the Autopilot recall Tesla conducted in December. The agency is concerned as … Read more
ICICI Bank has blocked credit cards of 17,000 new customers after their data was reportedly exposed and reached “wrong users”. The bank said that it is issuing new cards to the customers. An ICICI Bank spokesperson told news agency IANS about 17,000 credit cards that were issued in the past few days “were erroneously mapped … Read more
Seven companies, including Reliance Industries (RIL), ACME Cleantech Solutions Pvt Ltd, JSW Neo Energy Ltd and Waaree Energies, have placed their bids – in a second With tround – for manufacturing advanced chemistry cells (ACC) with a capacity of 10 gigawatt hours under the government’s production linked incentive scheme. The last date for filing applications … Read more
The chasm between what Elon Musk says about commercializing self-driving technology and what Tesla Inc. says later in regulatory filings has never been wider. On Wednesday, Tesla released its 10-Q, a quarterly report that provides a more detailed view into the company’s financial position. For several years running, Tesla has provided regular updates in these … Read more
Observing that right to a speedy trial is a fundamental right of an undertrial prisoner, and no one should be detained without trial for an indefinite period, in a 70-page detailed order granting bail to Yes Bank founder Rana Kapoor (66) in the last of eight cases against him, the special judge said further incarceration … Read more
Krishnamurthy V Subramaniam, the Executive Director of the International Monetary Fund (IMF), said on Tuesday that India will continue to be a driver for global growth in the foreseeable future. In an interview with ANI, he noted that India, ever since the COVID-19 pandemic, has witnessed consistent growth at 7 per cent plus. He predicted … Read more