Experts Financial News

Reserve Bank of India (RBI) deputy governor Michael Patra said on Wednesday. «It is estimated that the digital economy currently accounts for a tenth of India's GDP; going by growth rates observed over the past decade, it is poised to constitute a fifth of GDP by 2026,» he said at an event in Jaipur. He acknowledged that rapid digitalisation and the integration of advanced technologies could pose several challenges. «New technologies also involve challenges: disruptions in respect of traditional technologies and the labour market; resource intensity, demanding substantial investment in technology, learning and infrastructure; potential cyber threats and data breaches; ethical concerns, data privacy and potential malicious use,» he said.

mule accounts, deploying AI tools to track suspicious patterns like dormant accounts receiving large credits or multiple accounts showing identical recurring transactions simultaneously. Financial technology companies such as Bureau, Clari5 and Datasutram are helping banks deploy AI-based fraud detection systems that can detect issues like mule accounts — bank accounts criminals use to launder money, often without the account holder's knowledge — in real time, rather than waiting for defrauded customers to raise a complaint. Lenders are using AI tools to constantly analyse their savings and current accounts. Whenever there is an anomaly spotted by these software systems, red flags are raised for subsequent investigation, industry insiders told ET.

Late evening on Wednesday, countries approached Zaheer Fakir of the UAE and Fiona Gilbert of Australia, co-chairs appointed by the COP29 UN Climate Conference presidency to resolve technical differences and finalise a draft text for ministerial consideration, to «streamline» a 34-page draft that had been prepared overnight after the developing country bloc G77 and China rejected a seven-page framework that the co-chairs had prepared earlier. With this all options are back on the table. Developing countries are clear that the new climate finance goal, the successor to the $100 billion plan, must be about rich industrialised countries providing the funding. Developing countries said any text that proposes shifting the burden of providing climate finance to them was unacceptable.

Nancy Pelosi, former Speaker of the House, said Democrats would impeach Donald Trump «before he gets elected» has been debunked. This rumor, which circulated on Threads and other social media platforms, is false. A spokesperson for Pelosi confirmed that she made no such statement. Here’s the truth behind this viral claim.

Astana International Financial Centre (AIFC). The event brought together prominent business leaders, government officials, and industry experts to discuss opportunities for increased trade, joint ventures, and collaboration in the electronics and engineering sectors. The Keynote address was delivered by Ambassador Dr. T.V. Nagendra Prasad. The chief guest was Mr. Meiram Pshembayev, Chairman of the Association of Kazakhstan Machinery Industry. The event was held in the hybrid format. Around 50 companies from both sides participated in the event. Thematic sessions on Electronics and Engineering Sectors took place in which experts from both sides gave presentations, followed by a lively question and answer session. From the Indian side, the event was also joined virtually by the Electronics and Software Export Promotion Council (ESC), Engineering Export Promotion Council (EEPC), Federation of Karnataka Chamber of Commerce (FKCC) and their member companies dealing in exports of electronics and engineering goods.

Donald Trump’s second administration is filling up with some of his most loyal supporters and many of the people landing top jobs have been critical of Prime Minister Justin Trudeau and security at Canada’s border.

Wockhardt on Wednesday reported a net loss of Rs 16 crore in Q2FY25 led by improved performance across UK, India and emerging markets. The Mumbai-based drug maker reported a net loss of Rs 73 crore in Q2FY24.

Delhi overtook Lahore on Wednesday to become the world's most polluted city in Swiss group IQAir's live rankings. India's pollution control authority said the national capital's 24-hour air quality index (AQI) score had touched 418. The pollution levels touched the 'severe' category for the first time this season as temperatures and wind speeds dropped, reducing visibility and affecting some flights. At least eight flights were diverted from the city's Indira Gandhi International Airport, news agency ANI reported. The Central Pollution Control Board defines an AQI reading of 0-50 as «good», and above 401 as «severe», which affects healthy people and seriously impacts those with existing diseases.

Diddy's notorious freak-offs are being revealed by a guest, as quoted in a report by the Miami Herald. According to Tanea Wallace, who makes an appearance on «TMZ Presents The Downfall of Diddy,» a Saudi prince flew her and a friend to Miami in 2018 for a party at the rapper's mansion on Star Island. The singer-songwriter claimed to have seen a few celebrities, including one famous rapper, after leaving her phone at the door. The late-night/early-morning event, according to Wallace, was pretty crazy, and many of them appeared intoxicated.

Donald Trump Jr. has recently announced that he will be joining the venture capital firm named 1789 Capital while he is opting out of a formal role in his father’s administration following the recent US Presidential election victory. According to Independent, during a conference for Republican donors hosted by JD Vance's Rockbridge Network, Donald Trump Jr. eventually revealed about his new position as a partner at the 1789 Capital. Independent reported that 1789 Capital which mainly focuses on investments in conservative-oriented businesses also includes the media startup of Tucker Carlson. At the age of 46 only, Donald Trump Jr. has been pretty influential in his father’s political endeavors which also include the support for JD Vance as the US Vice Presidential candidate while fostering ties with potential administration appointees like Robert F. Kennedy Jr. Also Read: Donald Trump to conduct mass firings early into his second term? Two million federal workers are scared and anxious

Kansas City Chiefs players Travis Kelce and Patrick Mahomes faced frightening home invasions in early October. According to documents from the Cass County Sheriff’s Office, both athletes were victims of burglaries at their respective Kansas City-area homes. Despite ongoing investigations, these incidents have raised concerns among the players and their fans.

A Secret Service agent, who was tasked to protect former US President Barack Obama, allegedly brought his girlfriend to Obama's beach house in Hawaii. The incident came to light after the agent's former girlfriend, Koryeah Dwanyen, released her memoir titled «Undercover Heartbreak: a Memoir of Trust and Trauma» on October 28, reported Abc news.

COP29, urging world leaders to prioritise the unique needs of children and youth in policy. «Rising temperatures and unchecked development have led to landslides and impacted our way of life,» said 23-year-old Manisha Arya, a youth delegate from India's Himalayan region, as she voiced the concerns of millions at the United Nations Climate Change Conference (COP29). Manisha is one of 20 young South Asian leaders representing the urgent demands of youth in the fight against climate change. Alongside her is Kartik Verma, a 19-year-old environmental advocate from a farming community in rural India.

Inter Miami and Argentina soccer legend Lionel Messi had heart-break in MLS Cup playoffs as Atlanta United emerged winner in Game 3. With this, questions and apprehensions were raised about the World Cup winning star's future in Major League Soccer. After speculations in the social media and news outlets, Messi has decided to reveal his future plans. «A season ended in which we continued to grow as a club and, although we achieved some goals, we wanted more,» Messi wrote on Instagram Monday. «Thanks to all the people who joined and supported us. Now let's get ready to come back stronger next year,» Messi posted. Messi's contract with Inter Miami will expire in 2025.

Alkem Laboratories on Wednesday posted a 11% year-on-year (y-o-y) jump in net profit to Rs 689 crore in Q2FY25 led by growth in domestic formulation sales. The company reported Rs 620.5 crore in the corresponding quarter of the previous year.

bankruptcy courts, a report said on Wednesday. In over 71 per cent of the cases, the 270-day timeline is getting exceeded, the report by rating agency Icra said, adding that this is resulting in a higher number of liquidation orders as the elongated process erodes value. "'Lenders continue to face steep haircuts or reduction in loan amounts of nearly 72 per cent in Q2 FY2025 as the overall resolution process continues to face material delays emerging from litigations from either promoters or dissenting creditors," the agency's group head for structured finance ratings Abhishek Dafria said. He added that 71 per cent of the ongoing corporate insolvency resolution processes (CIRPs) had exceeded 270 days, post-admission by the NCLT.

ITR) filing data, the number of individuals showing annual income of over Rs 50 lakh has gone up to over 9.39 lakh in 2023-24, a five-fold jump from 1.85 lakh in 2013-14. Also, the income tax liability of those earning above Rs 50 lakh has gone up 3.2 times, from Rs 2.52 lakh crore in 2014, to Rs 9.62 lakh crore in 2024. A source said that 76 per cent of income tax collected is from those earning above Rs 50 lakh a year. This has led to reduced tax burden on the middle class. Also, the increase in number of people filing ITRs with annual income above Rs 50 lakh is due to «strong anti tax evasion and black money laws implemented by the Modi government», the source added.

India's lineup will be tested once again on Centurion's pace friendly pitch in the third T20I against South Africa on Wednesday. In the second T20I, India's top order struggled, managing just 124 for six as they faltered against South Africa’s pacers. Abhishek Sharma's lack of runs has become a concern. The team management might also consider playing Tilak Verma as an opener and handing Ramandeep Singh a debut for increased lower order depth.

ICC rankings saw Pakistan pacer Shaheen Afridi jump to the top of the ODI bowlers' ranking after picking eight wickets in three matches against Australia. Afghanistan leg-spinner Rashid Khan claimed the second spot as South Africa's Keshav Maharaj dropped two places to third. Two other Pakistani pacer made huge strides after winning the series against Australia. Haris Rauf, who claimed 10 wickets to win the Player of the Series award, and Naseem Shah both jumped 14 places. Rauf is now 13th, while Naseem is joint 55th.

NPS or the older pension schemes in case of death during service, discharge on grounds of invalidation, or disablement.

If things had gone differently last week, U.S. President Joe Biden could have arrived at the Asia-Pacific Economic Cooperation forum in Peru on Thursday projecting confidence and pledging his successor’s cooperation with eager Latin American partners