MUMBAI: RBI deputy governor Swaminathan J said AI deployment must ensure human accountability, explainable decisions and inclusion, as Reserve Bank of India outlined a framework to balance innovation with accountability in the financial sector. Delivering the V Narayanan Memorial Lecture at SASTRA University, Swaminathan J said AI is rapidly reshaping finance across customer service, credit…
Emkay Global Financial Services has initiated its coverage of Avenue Supermart (D-Mart) with a sell rating and the target price at Rs 3,700. Analysts said the stock, trading at 70x forward price-to-earnings (P/E) ratio prices in a business D-Mart needs to become, not what it is. Quick commerce players are now only 4-13% pricier than…
NEW DELHI: The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Videocon’s former chairman and MD Venugopal Dhoot for defaulting on loans of Rs 6,158 crore, as a personal guarantor of two group companies.Admitting a plea from State Bank of India (SBI), NCLT said Venugopal Dhoot has “committed defaults in repayment…
MUMBAI: Life Insurance Corporation of India on Monday approved a 1:1 bonus share issue, a move that will double its paid-up equity capital and is expected to improve stock liquidity and retail participation, while leaving its financial strength unchanged. The board, at its meeting on April 13, cleared the bonus on a record date to…
MUMBAI: The Reserve Bank of India (RBI) continues to classify Tata Sons as a core investment company (CIC) in the upper layer, according to its latest NBFC list released on April 10, keeping the Tata Group‘s holding company within the ambit of potential listing requirements. In FY24, Tata Sons applied to the RBI to voluntarily…
BENGALURU: A majority of Nvidia’s 10,000 India-based employees have received CEO Jensen Huang’s one-time special stock grant, with payouts ranging from over Rs 5 lakh to as much as Rs 1 crore over the grant period, according to data from US-based salary tracker 6figr. The “Jensen Special Grant”, rolled out in 2024, is a one-time…
MUMBAI: Nadir Godrej will step down as chair of Godrej Industries Group (GIG) on Aug 13 upon turning 75, moving to chairman emeritus. His nephew, Pirojsha Godrej (46), will take over as GIG chair in a planned generational transition. Valued at $20 billion, GIG spans FMCG, real estate, financial services, agriculture, and chemicals. It is…
Domestic stock exchanges NSE and BSE will remain closed for trading on Tuesday, April 14, on account of Dr Baba Saheb Ambedkar Jayanti, with activity across commodity markets also partially impacted.Equity markets, NSE and BSE, will remain closed for the entire day, halting trading in stocks, derivatives and equities-linked segments.Commodity markets will see a split…
Iran’s currency has plunged sharply in the free market, with rates hovering around 15,69,410–15,80,000 Rial per US dollar, underlining deepening stress in an economy battered by war, sanctions and internal disruption, according to Bonbast data.Average rates stood at 156,9410 (sell) and 15,68,410 (buy), with extremes ranging between 14, 64,500 and 17,20,500 Rial, signalling heightened volatility…
From a planning perspective, the corridor has been structured into four phases The initial 31.6 km stretch from Akshardham to Khekra, close to the Eastern Peripheral Expressway, is primarily a brownfield segment, where the existing route has been transformed into a six-lane elevated road along with a parallel service lane. The second phase, covering 120…