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deposit growth due to increasing competition from mutual funds (MFs) and other alternative investment options. At the FICCI-IBA banking conference, Indian Banks’ Association (IBA) chairman, MV Rao, highlighted that mutual funds offer higher returns as they are not subject to the same regulatory restrictions as banks. This has led to a shift in investor preferences towards MFs, making it difficult for banks to maintain a competitive edge in deposit mobilization. Rao emphasised that the regulatory framework governing banks, such as end-use monitoring and interest rate restrictions, limits their ability to provide attractive returns to depositors. He noted that mutual funds are not required to verify the end-use of funds or prioritize specific sectors, allowing them more flexibility and higher yields. “MFs do not have end-use verifications and restrictions on priority sector or to the MSME or government schemes. That’s why MFs can offer more than bank deposits,” said Rao, who also serves as CEO of Central Bank of India. Bankers across the sector have expressed concerns about the systemic risks posed by this trend. Rao warned that most MF investors are not conducting proper analysis and may face significant risks in the future if market cycles shift. HSBC India CEO Hitendra Dave added that blaming MFs might not be the solution, as liquidity eventually returns to the banking system. Dave urged banks to study the underlying factors affecting deposit growth rather than focusing solely on MF competition.

Giriraj Singh on Friday expressed confidence that the niche carbon fibre — which is used in aerospace, civil engineering and defence as an alternative to metal — will be produced by India in 2025-26. Currently, India does not produce any carbon fibre and relies completely on imports from countries such as the US, France, Japan and Germany. The European Union's proposed Carbon Border Adjustment Mechanism, a tax on embedded carbon imports, is expected to kick in from 2026. «The coming days belong to Technical textiles in every sector… I am fully confident that in 2025-26 the niche carbon fibre product will also be with India,» Singh told reporters here.

tartrazine, a common food dye, can make the skin of living mice temporarily transparent. This innovative technique allows scientists to observe internal organs without invasive procedures. The research, detailed in the journal Science, marks a significant advancement in biomedical imaging. This discovery, reminiscent of HG Wells' "The Invisible Man," provides a new method to visualize internal structures effectively.

India Middle East Europe Economic Corridor (IMEC) will strengthen maritime security and reduce New Delhi’s dependence on certain routes, commerce and industry minister Piyush Goyal said Friday. “I am sure the India Middle East Europe Economic Corridor will add to maritime security and reduce reliance on few routes that can become detrimental to maritime security and add faster and lower cost connectivity,” Goyal said at the India Mediterranean Business Conclave 2024 organised by the Confederation of Indian Industry (CII). Suggesting to setup a working group on tourism with the Mediterranean countries, he said that a collaboration between the countries of the Mediterranean region and India could provide a win-win situation for both.

Ashwini Vaishnaw met Japan's Minister for Digital Transformation Taro Kono and discussed avenues to strengthen digital ties between the two countries. In a post on X (formerly Twitter), Vaishnaw — is the Minister for IT, Information and Broadcasting (I&B), and Railways — said the discussions focused on exploring avenues for collaboration and innovation in the digital landscape, particularly on futuristic technological advancements. «Met with H.E. Mr. Taro Kono, Minister for Digital Transformation of Japan, to discuss strengthening India-Japan digital ties. Explored avenues for collaboration and innovation in the digital landscape, focusing on futuristic technological advancements,» Vaishnaw wrote in the post as he held a series of high-level meetings in Japan.

The Cardano blockchain has undergone a very important phase, the Chang Hard Fork combinator. The hard fork event, a major milestone for Cardano, introduced decentralized voting mechanisms and allocated a robust treasury of 1.5 billion ADA to foster community-led projects and initiatives.

₹1.5-2.5 trillion in incremental profit for the top 500 Indian companies over a five-year period. When businesses use AI-powered products, it delivers an even higher return on ad spend. It has been incredible to see large Indian brands such as Nykaa and Dream11 already use these tools as part of their advertising strategies.

Narendra Modi on Friday called the conservation of water and environment a part of India's cultural consciousness, pitching for the «reduce, reuse, recharge and recycle» mantra to save water. He was virtually speaking at a programme marking the launch of the 'Jal Sanchay Jan Bhagidari' initiative in Surat, a step aimed at strengthening community involvement in water conservation. «For water conservation, we have to work on the mantra of 'reduce, reuse, recharge and recycle'. We also need to adopt innovative techniques and the latest technology to conserve water,» said the PM. Modi said India has just four per cent of freshwater resources, and many parts of the country face a water crisis.

₹500 per month, this will generate total monthly savings of ₹25,800 crore. Over a year, this could sum up to ₹3.1 trillion in savings, amounting to nearly 13% of the total deposit growth between 2022-2023 and 2023-2024. However, achieving this requires addressing a critical gap that prevents many women from engaging in formal savings.

financial services sector, with banks playing a pivotal role, a report released by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association has said. The report titled “Banking for a Viksit Bharat” says that since India, is a predominantly bank-led economy, it will require the banking sector to play an anchor role while the other financial asset classes continue to grow much faster. This will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, the report said. India's banking system is in a strong position today – characterized by high profitability, robust capital adequacy, and low levels of non-performing assets (NPAs).

New Delhi: Startups and entrepreneurs working on blockchain applications and products appear to have perked up, after more than two years of subdued enthusiasm for web-3 technologies. This much-needed booster for India’s blockchain upstarts has come in the form of the National Blockchain Framework, unveiled on Wednesday by information technology secretary S.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Michael Graw is an experienced freelance finance and tech writer, specializing in cryptocurrencies, decentralized finance, and Web 3.0 since 2018. His work has been featured on various financial news...

Suresh Prabhu on Thursday nominated to the World Agriculture Forum (WAF) Board. In a communication, Rudy Rabbinge, Chairman of WAF Board, said that Prabhu's expertise would be invaluable to the discussions that shape the future of the agri sector. «Given your role and respected position in the global food and agriculture arena, I believe you would be invaluable to the WAF Board. Your insights and experience could greatly contribute to the forum's objectives,» he said. The forum aims to function as a global body dedicated to advancing agricultural development on a worldwide scale.

Sep 5th, Panama – Gate Ventures is proud to announce its strategic investment in double jump.tokyo Inc., Japan’s foremost Web3 gaming company, as part of a $10 million funding round led by SBI Investment. This significant investment reflects Gate Ventures’ commitment to supporting the advancement of blockchain technology and the Web3 gaming ecosystem on a global scale.

Netflix's Arcane season 2 release date is drawing closer as makers dropped the official trailer offering a glimpse of Arcane League of Legends universe. “Watch it all burn. The award-winning series returns for the final chapter, this November only on Netflix,” the caption for Arcane season 2 reads. Arcane season 1 was released on November 6, 2021. Animation show’s cast includes Hailee Steinfeld, Kevin Alejandro, Ella Purnell, and JB Blanc.

Goavega, a specialist in AI-driven product engineering services, has launched a product aimed at helping businesses engineer next-generation AI-based software products which will help organizations across industries further innovate faster and smarter. With over a decade of experience supporting emerging startups and large enterprises, Goavega has developed the new suite of AI services. “AI is no longer a luxury but a necessity for companies that want to remain competitive in today’s digital economy. However, getting AI right the first time is incredibly challenging. Our mission with this new suite of services is to help businesses in healthcare, financial services, retail, manufacturing, and other industries to navigate these challenges and successfully integrate AI into their operations, driving sustainable value and efficiency. Weare seeing a very healthy pipeline for AI-Driven Product Engineering Services and expect to see 30-35% growth in the coming year," Sumana Iyengar, CEO at Goavega, said.

business leaders in Singapore and appraised them about various reforms that are currently underway in India to attract investment and innovation. Modi is here on a two-day visit at the invitation of his Singapore counterpart Lawrence Wong. «Interacted with top business leaders and CEOs in Singapore. We talked about ways to deepen economic linkages. I highlighted the reforms underway in India, which will encourage investment and innovation,» the Indian Prime Minister said in a post on social media platform 'X'. Over the past 10 years, India-Singapore trade has more than doubled.

Italy has approved new rules to put lucrative concessions for beach clubs up for bidding by June 2027, responding to pressing demands from the EU to open up the sector to new players

Innovative Retail Concepts Pvt Ltd, which runs the business-to-consumer (B2C) unit of online grocery and quick commerce firm BigBasket, posted a modest 6% year-on-year growth in its operating revenue for FY24 to Rs 7,885 crore, though a check on expenses reduced its net loss. It posted a net loss of Rs 1,267 crore for FY24, down 17% year-on-year, according to the company’s regulatory filings sourced from Tofler. Over the past two years BigBasket, majority owned by Tata Digital, has seen intense competition from quick commerce players such as Zomato-owned Blinkit, Swiggy Instamart and Nexus Venture Partners-backed Zepto in the hyper funded online grocery delivery space.