Author: QH team

The Reserve Bank of India’s (RBI’s) draft proposals to align businesses of banks and their non-bank subsidiaries is likely to have an impact on major private sector banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank, according to Jeffries analysts. The RBI last week released draft proposals on ‘forms of business and prudential regulation for investments’ of banks, wherein it stated that only a single entity within a bank group (the bank and its group entities) can undertake a particular form of permissible business. It specified that multiple entities within a bank group cannot undertake the same business or…

India is on the cusp of a significant transformation in its engineering and manufacturing sectors, with the potential to lead in innovation on the global stage. In an interview with PTI, Boeing India President Salil Gupte shared these insights during a symposium organized by the India Foundation for Quality Management. He emphasized the necessity for Indian companies to enhance their position within the global supply chain and to seize the emerging opportunities presented by quality improvements in manufacturing. Leveraging Engineering StrengthsIn the PTI report, Gupte stated, “We have a tremendous opportunity in India,” referring to various sectors, including automotive, industrial engineering,…

The government is verifying mandatory disclosures on packaged products sold through quick commerce companies, a senior government official said on Tuesday, signalling potential regulatory action against non-compliant firms. Consumer Affairs Secretary Nidhi Khare told reporters the government is examining whether these companies are adhering to the Legal Metrology Act, which requires disclosure of key product information. “We are examining mandatory disclosures on packaged products sold via quick commerce companies,” Khare said.The act mandates that packaged goods sold both online and offline must display information including maximum retail price, expiration date, weight, manufacturer details, and consumer grievance addresses.Khare indicated that the Consumer Affairs…

Prime Minister Narendra Modi urged standards bodies to create a global framework to ensure that artificial intelligence is ethical, secure and inclusive. Speaking at the 8th edition of the India Mobile Congress, he also emphasised that cyber security had to be paramount as no country was isolated from its impact. Telecom industry leaders pushed for policy reforms to ensure localisation of data and combating digital fraud, as well as for regulatory clarity on satellite broadband services. The annual conclave was held alongside the International Telecommunication Union World Telecommunication Standardization Assembly (WTSA) 2024. “I would ask WTSA to deliberate on how to make…

A general framework prioritising cloud-driven artificial intelligence (AI) and storing data in the country will be needed to fully utilise the potential of AI in India, according to a top Reliance Jio official. Speaking to reporters on the sidelines of the India Mobile Congress, he said Jio envisioned AI-services expanding to all sectors with wide-ranging use cases across education, health care, and retail. “AI will change everything, not just telecom. For that AI cloud is needed as a framework. If you do not have access to every premise, do not have storage, do not have modern features running on AI-cloud, India will…

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday warned that while artificial intelligence (AI) and machine learning (ML) have opened new avenues for business and profit expansion in the financial sector, over-reliance on these technologies could pose risks to financial stability. As a result, banks and financial institutions must implement adequate risk mitigation measures, he said. “The heavy reliance on AI can lead to concentration risks, especially when a small number of tech players dominate the market. This could amplify systemic risks, as failures or disruptions in these systems may cascade across the entire sector,” Das said at an…

Reserve Bank Governor Shaktikanta Das on Monday made a case for reducing time and cost of overseas remittances, which are important for developing economies including India.According to the World Migration Report 2024 released by the International Organisation for Migration (IOM), India’s remittances surged to USD 111 billion last year, surpassing all other nations. As per the Bank of England projection, the value of global cross-border payments is estimated to surpass USD 250 trillion by 2027.The significant volume of crossborder worker remittances, the growing size of gross flows of capital, and the increasing importance of cross-border ecommerce have acted as catalysts to…

Reserve Bank governor Shaktikanta Das has asked banks to remain alert in the social media space and also strengthen their liquidity buffers given the risks arising from the growing digitization of the financial markets which if not addressed well lead to financial stability risks.Addressing the RBI-organised function in the Capital as part of the 90th-year celebrations of the Reserve Bank of India on Monday, Das said, it is well-recognised that the growing digitalisation of financial services has enhanced the efficiency of the financial sector across the globe. At the same time, it has also brought in several challenges which central…

Artificial Intelligence (AI) is enabling unmatched agility and precision but its deployment must be guided by ethical considerations and robust regulatory framework, Communications Minister Jyotiraditya Scindia said on Monday. Speaking at the ITUWTSA event, the Minister asserted that governance of AI and Internet of Things (IoT) cannot be an “afterthought” and added that concerns of privacy and bias must be addressed to ensure that these technologies serve as a “force for good.” “We must address concerns of privacy, of bias and of transparency, ensuring that these technologies serve as a force for good,” Scindia said.AI is reshaping contours of how information…

The Copilot Wave 2 will go beyond individual productivity to business productivity, said Rajesh Jha, global EVP, Experience and Devices at Microsoft. “We’re not building AI for social media or a commerce site. Copilot is a trusted AI companion for human agency, both as an assistant or at work,” said Jha (51) who has been leading Office 365, Teams & Bing through his 18-year journey at Microsoft and is a key member of the Satya Nadella clan.  “The first chapter of AI was bringing AI into people’s existing workflows. The second chapter is a new AI. With Copilot we have now…