India Financial News

Edtech platform Coursera is banking on the rising demand for generative AI (genAI) courses to drive learner growth as India is at the forefront of enrollments, a senior executive told ET. “If we are comparing it to the pandemic, of course the growth is slower (for online learning platforms). But now genAI courses are driving the growth with over 950,000 enrollments happening for genAI courses and almost 1600% year-on-year growth in genAI content,” Raghav Gupta, managing director of Coursera India and Asia Pacific, said in an interview. “Some of the growth is also happening because it is such a hot topic that people want to learn and there is a bit of a fear of missing out as well,” he added.

Donald Trump condemned the Muhammad Yunus-led Bangladesh administration for failing to protect Hindus and vowed to strengthen his country’s partnership with India and “good friend” Prime Minister Narendra Modi while lashing out at Democratic rival Kamala Harris ahead of the November 5 polls. “Kamala and Joe have ignored Hindus across the world and in America. They have been a disaster from Israel to Ukraine to our own southern border, but we will make America strong again and bring back peace through strength!” he said in a Diwali message on X. “Under my administration, we will also strengthen our great partnership with India and my good friend, Prime Minister Modi. Also, happy Diwali to all. I hope the festival of lights leads to the victory of good over evil.”

Apple set yet another revenue record in India in the September quarter, thanks to the iPhone, amid an ongoing trend of premiumisation in the smartphone market, said chief executive Tim Cook. “iPhone grew in every geographic segment, marking a new September-quarter revenue record for the category… And we continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record,” Cook said during the company’s earnings call Friday. It’s not just iPhones that are growing rapidly in India. iPads also set a record in the quarter, contributing to an 8% surge in revenue for the segment globally.

Subscribe to enjoy similar stories. A market share of 50% in a highly competitive industry is a rarity. Of all the major Indian companies, only two, Asian Paints and IndiGo, have managed that consistently.

Subscribe to enjoy similar stories. As HDB Financial Services Ltd prepares for a nearly $1.5 billion initial public offering of shares, two key factors could potentially impact its valuation: a recent proposal to regulate banks’ group businesses and HDB’s rising bad loans. HDB Financial Services said in its draft red herring prospectus, or its IPO filing, that its parent, HDFC Bank Ltd, may have to reduce its stake in the company to below 20% if the Reserve Bank of India implements its draft proposal in the current form.

Subscribe to enjoy similar stories. New Delhi: Bangladesh, the world’s largest garment producer, has opted to bypass India and ship its textile exports through the Maldives for onward distribution to global markets, hurting the cargo revenue prospects of India’s airports and ports amid strained bilateral ties, according to three people aware of the development. “Previously, Bangladeshi goods were shipped through Indian airports, but now they are rerouting shipments from other locations.

Subscribe to enjoy similar stories. It is often said that a great mind leaves a trail of ideas that illuminates the path for others. Bibek Debroy, whom many fondly called Bibek Da (‘Da’ meaning elder brother in Bengali), was that rare intellect whose thoughts and writings called for more than mere reflection.

Reserve Bank of India (RBI) data showed that the pace of new card additions slowed to 620,000 in September from 920,000 in August, a fall of nearly a third. New card issuances have fallen by more than 64% from the year earlier. The latest additions take the total credit cards in force to 106 million. Experts say that new card additions will slow further as lenders become wary of the unsecured segment. “New cards issuance was majorly led by HDFC Bank and SBI Cards. However, net new card additions are expected to slow down in the near term due to rising delinquencies in the credit card receivables,” said IDBI Capital analyst Bunty Chawla. “Lenders also remain cautious on new cards disbursements due to the RBI’s risk weight norms.”

Reserve Bank of India's foreign exchange reserves fell by $3.5 billion to $684.8 billion in the week ended September 25, latest data showed. The central bank likely sold dollars to prevent a sharp depreciation in the rupee, traders said. Foreign currency assets fell $4.5 billion to $593.7 billion, while gold reserves rose $1 billion to $68.5 billion. The Indian rupee traded in a narrow range of 84.05/$1 to 84.08/$1 in the week ended September 25, as foreign portfolio investors bought dollars.

Modi on Friday accused the Congress of practicing a «culture of fake promises», party president Mallikarjun Kharge hit back by saying Modi's «drumbeating regarding a 100-day plan was a cheap PR stunt!». Kharge was referring to the Modi-led's Lok Sabha election poll campaign promise of an action plan in the first 100 days of the third Modi government.

Friends co-star Matthew Perry, actor Matt LeBlanc has reportedly decided to step back from his acting career, seeking a quieter life away from the public eye. This significant shift comes in the wake of Perry's death, which has profoundly affected LeBlanc.

Indian companies sanctioned by the US as part of a global effort to crack down on supply of dual use items to Russia will not have a major impact on the domestic defence ecosystem as most of them are not linked to any major project. Only one of them has limited work with the Defence Research and Development Organisation and the armed forces. Out of the 19 Indian firms on the global list of 400 plus companies sanctioned, several are entities that seem to be just carrying out trading activities by purchasing western equipment including electronics and selling them to Russian companies that have been hit by western sanctions. Some of them, like Denvas Services, which mainly supplies digital kiosks for various services, also have Russian nationals as registered directors and shareholders. It is legal for Indian companies to have foreign nationals as directors and there are no sanctions on conducting work with Russian entities. The company has been accused of procuring US-origin microelectronics for use in its advanced Russian conventional weapons.

GoI also plays a crucial role in policy design and financing. This shared responsibility often leads to conflicts with states, intensified by political turf wars.

Donald Trump is «unstable», «obsessed with revenge» and is «out for unchecked power», Vice President and Democratic candidate Kamala Harris said on Friday in an unprecedented attack on her Republican rival ahead of next week's US election. In a rally at Las Vegas, 60-year-old Harris, who is of Indian and African heritage, said Trump, 78, is all about «hate» and more division and that he would bring an «enemies list» to the White House, while she would carry a «to-do list» of priorities. Singer Jennifer Lopez joined the Democratic leader at the rally and called on voters, especially Latino Americans, to support Harris as cares about «not just some Americans, but all Americans». «We all know who Donald Trump is. He is not someone who is thinking about how to make your life better. He is someone who is increasingly unstable, obsessed with revenge, consumed with grievance and he is out for unchecked power,» Harris said at the rally.

business leadership was defined by managers who ruled enterprises top-down. Shaped by the world wars and the Great Depression, leadership in enterprises was defined by an almost militaristic control established through stringent rules and dictums. A 21st-century leader, on the other hand, is empathetic, and visionary, and leads by inspiring their teams to achieve a common vision, rather than forcing them to work until they drop. The backlash following EY employee Anna Sebastian Perayil's death has highlighted how corporate India's conditions can be deemed, in many cases, as being 'inhumane'. Such conditions call attention to how Indian employees are among the most overworked in  the world. It underlines two key questions: Are Indian workplaces desirable?

Narendra Modi's recent attack, Congress President Mallikarjun Kharge said lies, deceit, fakery, loot and publicity are the five adjectives that best describe the BJP government, adding that the 100-day plan was a cheap PR stunt. «Lies, Deceit, Fakery, Loot & Publicity are the 5 adjectives which best describe your Govt! Your drumbeating regarding a 100-day plan was a cheap PR stunt! On May 16, 2024 you had also claimed that you took inputs from more than 20 lakh people for the road map for 2047. RTI filed in PMO declined to put forth details, exposing your LIES!» said Kharge. «The 'B' in BJP stands for Betrayal, while the 'J' stands for JUMLA! Setting the record straight. Promise of 2 Crore Jobs per year? Why is India's Unemployment Rate at a 45-year high? Why are stampedes witnessed wherever there are vacancies for a handful of jobs? Who is responsible for 70 paper leaks in 7 years? Who snatched 5 Lakh Govt jobs by selling stake in PSUs? Bahut Hui Mehangai Ki Maar? Why have the household savings plunged to a 50-year low? Why has the cost of a common thali increased by 52% in just last year?» questioned Kharge.

Department of Treasury said in a statement on Thursday. In addition to disrupting global evasion networks, this action also targets domestic Russian importers and producers of key inputs and other material for Russia's military-industrial base, the statement said. «The United States and our allies will continue to take decisive action across the globe to stop the flow of critical tools and technologies that Russia needs to wage its illegal and immoral war against Ukraine,» Deputy Secretary of the Treasury Wally Adeyemo said.

PCB Chairman Mohsin Naqvi, who is also the Federal Interior Minister, on Friday assured a brisk visa issuance policy for Indian fans wanting to visit Pakistan for the ICC Champions Trophy early next year. He made the assurances during a meeting with a group of Sikh pilgrims from the United State. Naqvi said the PCB was expecting a positive response from Indian fans to visit Pakistan for the Champions Trophy. «We will be keeping a special quota of tickets for Indian fans and we will try to make the visa issuance policy brisk,» Naqvi was quoted as saying by a newspaper.

Election Commission on Friday accepted the Jharkhand government's proposal to appoint Alka Tiwari as the chief secretary of the poll-bound state. Assembly polls in Jharkhand will be held in two phases — November 13 and November 20. Tiwari, who is from the 1988 batch, is currently the senior-most IAS officer in the cadre. Before this, the poll panel had also consented to the proposal of a five-month extension of the tenure of former chief secretary Lalbiaktluanga Khiangte, the sources said.

Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up. The country's largest carmaker Maruti Suzuki India (MSI) said its total domestic passenger vehicle wholesales were at 1,59,591 units last month compared with 1,68,047 units in the year-ago month, a decline of 5 per cent. The company, however, reported its highest-ever monthly sales, including exports, in October at 2,06,434 units, a 4 per cent year-on-year growth over the same month last year. MSI Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company saw its highest-ever retail sales in an October.

RINL) have formed a consortium to prepare a uniform debt resolution plan for the government-owned Navratna company that has been under financial stress due to working at one third of its capacity. RINL is the corporate entity of Vizag Steel. State Bank of India (SBI), which is its largest lender with about Rs 6,400 crore of fund exposure, has led the formation of the consortium, a person familiar with the matter said.