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Indian central bank keeps key policy rate on hold, despite falling currency
Indian central bank keeps key policy rate on hold, despite falling currency MUMBAI, June 5 : The Reserve Bank of India on Friday kept its policy repo rate unchanged at 5.25 per cent, opting to look past rupee weakness and assess the fallout from rising global energy costs on inflation and growth. Nearly 80 per cent of 56 economists polled by Reuters expected the RBI's monetary policy committee to hold the repo rate. A war-driven surge in crude prices and record foreign fund outflows have...
Public sector bank accounts not needed for re-evaluation fee: CBSE
Amid confusion among candidates following the launch of the system earlier this week, CBSE Wednesday clarified that students applying for verification and re-evaluation of Class XII answer sheets do not need to hold accounts with State Bank of India, Canara Bank, Bank of Baroda or Indian Bank for payments on board’s online portal. Board also said the portal was functioning smoothly despite a major cyberattack attempt Tuesday, when the system came under a barrage of denial-of-service attacks...
CBSE blocks 3.8 million cyberattack packets amid revaluation rush
CBSE said it successfully blocked a 3.8 million-packet denial-of-service (DoS) cyberattack targeting its verification and re-evaluation portal while maintaining uninterrupted services for students. Despite the attempted disruption, the portal processed over 56,000 applications for answer-book verification and re-evaluation. The Board said technical teams are enhancing performance and security.
UPI clocked its biggest month in May, transactions surpass Rs 29.90 lakh crore
India's digital payments network continued its rapid expansion in May, with Unified Payments Interface (UPI) transactions climbing to their highest-ever monthly levels in both value and volume, latest data from the National Payments Corporation of India (NPCI) showed. During the month, UPI handled 23.2 billion transactions worth Rs 29.90 lakh crore, surpassing the previous month's figures of 22.35 billion transactions and Rs 29.03 lakh crore. This reflects a 19% gain as compared to...
Head first into Claude: Anthropic bets big on India
TOI correspondent from Washington: In the rapidly escalating global race to harness artificial intelligence for cyberwarfare and cyberdefense, India finds itself in an unusually exclusive club. Anthropic, the US artificial i ntelligence company behind Claude AI, this week expanded access to its highly restricted cybersecurity model, Mythos, to roughly 150 organizations across more than 15 countries, including India, under an initiative called Project Glasswing.
India IPO gold rush becomes foreign firms’ cash-out machine
Foreign companies are increasingly using India’s booming initial public offering (IPO) market to cash out investments and send billions of dollars back to their home countries rather than raise fresh capital for expansion, according to a Reuters analysis. As per the report, only one of the six foreign-based companies that listed their Indian subsidiaries in Mumbai since 2024 raised new funds. The remaining IPOs were structured entirely as Offer for Sale (OFS) issues, allowing existing...
India holds rates, ramps up measures to support faltering rupee
India holds rates, ramps up measures to support faltering rupee MUMBAI, June 5 : The Reserve Bank of India held its policy rate steady on Friday and unveiled steps to pull in dollars, seeking to shore up an embattled rupee as the economy grapples with costly oil and foreign outflows. The measures include scrapping capital gains tax for foreign holders of government bonds, sweetening dollar deposit schemes for non-resident Indians, and subsidising hedging costs for offshore borrowing. The...
SpaceX IPO explained: Can Indians invest and how does it work?
SpaceX is set to enter Wall Street, with an IPO valued at a whopping $1.75 trillion! The long-awaited listing has kicked off a rush among retail investors all chasing a slice of its rockets, satellites and AI empire, turning it into one of the most talked-about market moments in recent times. Demand is already so high that bankers have reportedly received twice the number of orders compared to the shares available.
Raids, stranded victims and new criminal tactics - inside Cambodia’s fight against scam centres
Raids, stranded victims and new criminal tactics - inside Cambodia’s fight against scam centres Cambodia says it is carrying out its toughest crackdown yet on online scam centres, with hundreds of facilities targeted. In the first of a two-part series, CNA goes on the ground to find victims stranded and signs of operations shifting into smaller urban sites, while experts warn that the criminal networks behind the industry remain deeply embedded. Abdul’s plan was to teach English in a Bangkok...
India's GDP stays robust in January-March as domestic demand offsets external weakness
India's GDP stays robust in January-March as domestic demand offsets external weakness NEW DELHI, June 5 : India's economy grew an unexpectedly strong 7.8 per cent year-on-year in the January-March quarter, the government said on Friday, as robust private investment, farm output and construction activity offset the early impact of the Middle East conflict. The print, the second in an updated data series with a revised base year and wider coverage, was well above a forecast of 7.2 per cent...