Economic Times5/7/2026BusinessIndia
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Developing·48m ago
RBI's SMS alert rule change to cost banks Rs 300 crore
The Reserve Bank of India's directive to stop charging customers for SMS alerts could cost large lenders up to Rs 300 crore in lost fee income. While banks can now make alerts for low-value transactions optional, top private banks are expected to continue them for customer experience and fraud detection.
Economic Times
Developing·1h ago
Commerce Ministry Questions Smartphone PLI Scheme's Extension, Industry Cites Success
The commerce ministry questioned the smartphone PLI scheme's extension, but industry data shows production more than doubled, exports rose tenfold, and domestic value addition quadrupled, surpassing China's pace. The scheme met all objectives, offering lessons for future manufacturing growth.
Economic Times
Business·48m ago
Silvana Tenreyro Appointed New IMF Chief Economist
Silvana Tenreyro will become the International Monetary Fund's new chief economist starting August 10, 2026. She brings significant policy experience and academic credentials to the role, having previously served on the Bank of England's Monetary Policy Committee.
Economic Times
Developing·1h ago
ICAI Networking Guidelines Put on Hold Amidst Big 4 Lobbying
The Institute of Chartered Accountants of India's networking guidelines, which imposed strict compliance and penalties on local audit firms, have been put on hold. Influential Big 4 firms successfully lobbied the government against these rules, which also raised concerns with the Ministry of Corporate Affairs.
Economic Times
Business·1h ago
Chennai Leads Indian Airports in On-Time Domestic Flight Performance for May
Chennai recorded the highest on-time performance for domestic flights in May at 92.2%, followed by Kolkata and Hyderabad. IndiGo led airlines in punctuality, while SpiceJet lagged significantly. Domestic air travel saw a 10% increase in May compared to last year.
Times of India
Developing·2h ago
Hardeep Singh Puri Dismisses E20 Fuel Issue Reports as Misrepresentation
Union Minister Hardeep Singh Puri stated that reports of E20 fuel issues are a misrepresentation, with automobile manufacturers and consumers accepting the blend. The government will consider E25 fuel after tests and consultations, while E85 rollout has begun. India aims for 20% ethanol blending to cut import dependence and support farmers.
Economic Times