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Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs.
Multibagger or IBC - Part 10: 4% R&D spend, 300 patents; this company’s DNA has changed for the better
Sometimes, it’s the quiet ones you need to watch. This company spotted the EV shift in 2010, long before it was trendy, and has built a full-stack offering. Its latest EV tie-ups, including one that jacks up kit value to levels considered high in the industry, are a sign of how deep the EV play runs. With exports making up 9% of revenue and 700+ aftermarket dealers in India, it’s not just riding the OEM demand wave. Add to that 300+ patents and rising R&D spends, and you have a company betting big on innovation. Clearly one to track if you're following India’s EV transformation.
Can JioMart, Rapido change the game for Eternal, Swiggy? Deven Choksey answers
According to Deven Choksey, most of the platform companies from investment perspective are quoting at a fancy valuations given that they have been succeeding with the price hike and the charges. But these fancy valuations might get affected if competition like JioMart could start penetrating faster and could possibly create disruption with them.
Trump’s tariff chaos threatens his push for rust belt revival
Donald Trump's trade policies face criticism. These policies may hinder the revival of US manufacturing. Tariffs are creating uncertainty for businesses. Companies are delaying investments due to fluctuating costs. The Midwest region, a manufacturing hub, is particularly anxious. Despite recent job growth, the trade war is casting a shadow. Erratic policy-making is making it difficult for businesses to plan.
Indian banks must urgently embrace AI, privacy technologies to comply with DPDP Act: Report
Indian banks must urgently adopt artificial intelligence (AI), privacy-enhancing technologies (PETs), and privacy-by-design strategies to effectively comply with the Digital Personal Data Protection Act (DPDPA), according to a report released by Protiviti.
He once gave jobs to many. Now he is struggling to find a job for himself, even begging for interview chances
An entrepreneur, once leading a healthy food startup, faced a harsh reality after his co-founders left due to financial constraints. Transitioning to the job market, he encountered rejections, with employers citing lack of specific industry experience or struggling to align his diverse skills with structured roles.
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American tourism takes a hit: NYC feels the pinch as foreign arrivals decline
New York City tourism faces a setback. Foreign tourist arrivals are sharply declining in 2025. Concerns over US immigration policies are a major reason. The city expects a 17% drop, meaning 2 million fewer tourists. This pause impacts tourism spending. Other cities like Orlando and Los Angeles anticipate similar declines. New York launches a campaign to attract international travellers.
“It’s no longer a cost thing”: GCCs shift from support units to strategic value creators
The final round of Bosch Conversations in Bengaluru, in partnership with The Economic Times, highlighted the shift of GCCs from being operational outposts to emerging as value engines capable of driving both core transformation and new market creation.
“Evangelize innovation, don’t just execute it”: The new mandate for GCC leaders
Around the world, Global Capability Centres are no longer just doing the work—they’re shaping it. At the final Bosch Conversations roundtable in Bengaluru, industry leaders discussed how GCCs are evolving into innovation hubs with strategic ownership, deeper business alignment, and a growing role in global transformation. Here are the highlights
RBI’s bold rate cut sets stage for market rally: Sandip Sabharwal
Sandip Sabharwal highlights the positive impact of RBI's actions, including rate cuts and easing stress on unsecured loans, particularly benefiting MFIs and NBFCs. He favors larger banks and diversified NBFCs, cautioning against real estate investments at current valuations. The rare earth magnets issue from China poses a potential threat to the auto industry, especially EV manufacturers, pending resolution.
Planning to port your health insurance plan? Here are some challenges you should be aware of
While shifting to a new insurer may seem like a quick-fix solution to the problems with your existing health insurance plan, there are some challenges you should be aware of.
Understanding Operation Travelling Op Sindoor
The author reflects on explaining Indian culture abroad, drawing parallels to a recent government initiative called 'Operation Sindoor' aimed at showcasing India's stance on terrorism. He questions the effectiveness of sending MP delegations to foreign capitals, especially when domestic political rhetoric contradicts their message.
Fintech startup Decentro raises Rs 30 crore, will shift domicile to India
Decentro, a fintech startup, secured Rs 30 crore in funding led by InfoEdge Ventures. The company intends to move its base from Singapore to India. This move aligns with other Indian startups returning home. Decentro aims to enhance its products and expand its enterprise adoption. They offer APIs for KYC, payments, and debt collection.
Bank holiday on June 6, 2025 and June 7, 2025: Are banks closed tomorrow in your state for Bakrid?
Bakrid bank holiday tomorrow 2025: In June 2025, banks will be closed on different dates across India due to holidays like Bakrid and state-specific observances. There is a public holiday on June 6 in one state for Id-ul-Ad’ha (Bakrid), most states will observe a holiday on June 7th for Bakri ID (Id-Uz-Zuha).
Multibagger or IBC - Part 9: With exceptional margins, can this small-cap stock make it to the big league?
While the automotive industry grapples with EV transition uncertainties, this multi-technology components manufacturer has turned potential disruption into measurable opportunity. By CY2022, EV segments contributed 35% to the order book. The company's strategic foresight, evident since 2016, has translated into concrete business wins with major EV OEMs. And it has done so while maintaining pricing discipline in a margin-sensitive industry.
Trump-Musk rift widens over 'big, beautiful bill': Can Democrats woo President's fired 'first buddy'?
The rift between tech mogul Elon Musk and US President Donald Trump has widened due to the sweeping tax cut bill. Musk has openly attacked the bill and said this massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Amid this, questions have risen whether this is an opportunity for Democrats to woo Musk, Trump's fired aide?
These mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos can rally over 30%, according to analysts
In the last few trading sessions, what has indicated an underlying bullish bias despite the volatility? First is the largely positive market breadth. And second is the behaviour of the mid-cap indices. On most days, the mid-cap indices have traded in positive territory, even when the broader market indices were under pressure. But we are still not in a runaway rally, and the economy, though in recovery mode, is doing so gradually. So, it is better to be selective when it comes to mid-caps.
Got laid off? But the next 30 days can either make or break your future- here’s how to totally crush it and come back even stronger
In the face of a layoff, immediate action is crucial for career recovery. Monetize existing skills through freelancing or consulting to maintain momentum and financial stability. Rebrand yourself by upskilling in areas like AI and data analysis to stay competitive. Avoid panic-applying; instead, target specific companies, network with decision-makers, and personalize applications for better results.
Axis Bank Privilege Credit Card: How to get discounts on domestic, international flights with Yatra
Axis Bank Privilege Credit Cardholders on the American Express Network can enjoy exclusive benefits on food, shopping, and travel until June 30, 2025. Cardholders can avail discounts on Zomato, Blinkit, and Swiggy using specific promo codes on Saturdays.
How fast you take loans also impacts your credit score, not just the amount: Bhavesh Jain, MD & CEO, TransUnion CIBIL
A lot more needs to be done to educate borrowers on the finer aspects of credit behaviour. Often, the borrowers don’t understand the impact of missing even one or two payments, says Bhavesh Jain, MD & CEO of TransUnion CIBIL.
Numerology Horoscope Today, 2nd June 2025: Daily Numerology Predictions - 2nd June 2025 is under the influence of Number 2 (date) and Number 8 (2+6=8), interlacing sensitivity with structure. Reconciling emotional sensitivity with practical wisdom is a day to do. Whether it is love, work, or self, today is a day for reflective exchanges, establishing healthy boundaries, and achieving emotional equilibrium
Daily Numerology Horoscope: This Monday requires a soft yet strong style of life. Personal energy might be low, but intuitive abilities are enhanced. Number 2 diplomacy and Number 8 determination combine today—providing a strong combination to double-check decisions without self-criticism. While emotions will be high in waves, it is also the day to smooth inner criticism and firm up soulful conviction
RBI imposes ₹54.78 crore in penalties on 353 banks, other regulated entities during FY25
In fiscal year 2024-25, the Reserve Bank of India levied 353 penalties totaling ₹54.78 crore on regulated entities for statutory contraventions. These penalties addressed non-compliance issues related to cybersecurity, exposure norms, KYC guidelines, fraud reporting, and credit information submissions. Cooperative banks faced the most penalties, followed by NBFCs, housing finance companies, public and private sector banks, and foreign banks.
'Indians everywhere...': Harsh Goenka reacts to viral Wall Street baraat video, netizens bring Trump into online chatter
A vibrant Indian wedding procession took over New York's Wall Street, sparking mixed reactions online. While some celebrated the display of Indian culture, others questioned its appropriateness on foreign soil. The lively baraat, complete with music and dancing, ignited a debate about cultural expression and integration, showcasing the global reach of Indian traditions.
Why must India's bureaucracy fight common sense?
An Indian writer eagerly awaiting advance copies of his book from a British publisher faces a frustrating ordeal with DHL's KYC process. Despite providing his address and Aadhaar, discrepancies and inflexible rules lead to repeated requests for additional documents. The writer's exasperation grows as he navigates illogical demands, ultimately resorting to desperate measures to halt the shipment.
She was a cancer nurse, now she fixes cars: This 39-year-old YouTube trained mechanic's income will leave you stunned
Once a struggling nurse and single mother, Desiree Hill followed her instincts and transformed her life by launching a car repair business. From flipping cars in her driveway to running a 9,000-square-foot garage, she defied stereotypes and built a six-figure enterprise—one that’s now racing toward a million-dollar milestone, all while challenging norms in a male-dominated industry.
World No Tobacco Day 2025: History, themes, quotes, and slogans to share on WhatsApp, Instagram
Mark your calendars for May 31st, World No Tobacco Day! Established by the World Health Organization in 1987, this day shines a spotlight on the dangers of tobacco. The 2025 theme, 'Bright products. Dark intentions. Unmasking the Appeal,' reveals the deceptive marketing strategies aimed at enticing the youth.
Saturday bank holiday: Are banks open or closed today, May 31, 2025?
Confusion often arises regarding bank holidays, particularly concerning the fifth Saturday of a month. According to RBI guidelines, banks operate on the first, third, and fifth Saturdays unless a public holiday intervenes. Digital banking options like Net Banking and UPI provide continuous access to financial services, even during holidays.
Buy-now-pay-later offerings wane as fintechs pivot to EMI loans, consumer credit
Buy now, pay later services in India are losing traction due to stricter regulations and credit quality concerns. Fintech companies like PayU and Paytm are shifting from BNPL to EMI-based lending. Banks and NBFCs are also becoming more cautious, focusing on risk management and compliance in unsecured consumer credit.
HDFC Bank faces regulatory scrutiny over alleged mis-selling of Credit Suisse bonds in UAE
HDFC Bank faces scrutiny in the UAE over the alleged mis-selling of Credit Suisse bonds. A regulator is examining potential breaches of licensing conditions related to how HDFC conducted business across different jurisdictions, specifically between its UAE, DIFC, and Bahrain operations. Investor complaints have triggered investigations into whether clients were properly onboarded and advised, raising concerns about regulatory compliance.
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