Net transfers (comprising largely of worker remittances) led the improvement, rising by $6.6 billion to $16 billion from $9.4 billion, reflecting higher remittance inflows in the wake of the West Asia conflict and rupee depreciation. The services surplus also increased by $2.7 billion to $18.6 billion, supported by a rise in exports from $32.8 billion
Engineering goods (24.5% rise to $12.3 billion) and oil products (55% jump to $8.4 billion) were the top drivers of exports, with non-oil exports rising 12% to $36.8 billion. What also helped was some sort of normalcy in shipments to West Asia, with exports in May pegged at $5.3 billion, compared with $5.4 billion a
The funding comes amid growing investor interest in India’s AI ecosystem. Earlier this year, AI cloud platform Neysa raised $1.2 billion in a Blackstone-led funding round to expand large-scale AI infrastructure. Sarvam co-founder Pratyush Kumar said the fresh capital will expand compute infrastructure, help hire AI talent and build new products, including an AI-assisted coding
The directions impose a strict consent-capture and interface-design protocol, closing gaps left in the Feb 11 draft. According to the framework, banks must capture explicit consent via verifiable modes such as signed physical/electronic declarations, OTP approvals, recorded confirmations or clearly demarcated agreement clauses. RBI said interfaces must default to ‘No’ or ‘I do not agree’,
After the deal was announced early on Monday, markets were in an upbeat mood with sensex opening almost 1,200 points higher. It gained some more points in early trades and then as profit taking set in, it closed slightly off the intra-day high, but was still up 1%. The day’s gains made investors richer by
India’s hunt for LPG or cooking gas is behind US moving up, while energy also helped imports from Brazil shoot up 2.8 times to $2.7 billion during this period. Shipments from Peru too were 3.7 times higher at over $2 billion, latest numbers from the commerce department showed. The South American nation is now the
India’s silver imports plummeted by 87% in May to their lowest in over three years, following government restrictions and increased duties. This sharp decline, with imports falling to $75.57 million and volumes dropping 94%, aims to curb precious metal purchases and ease pressure on the rupee.
The government is set to divest up to 5% of its stake in General Insurance Corporation of India (GIC) via an offer for sale, opening for institutional investors on June 16. Priced at a floor of Rs 352 per share, this move could raise approximately Rs 3,000 crore. Retail investors can participate the following day.
