Economic Times4/19/2026BusinessIndia
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Developing·34m 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
Business·34m 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·50m 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
Developing·50m ago
SIAM Seeks 40% Import Duty on Tractors to Curb Chinese Dumping
The Society of Indian Automobile Manufacturers (SIAM) has urged the Indian government to increase import duties on commercial tractors and prime movers to 40%. SIAM claims current low duties allow cheaper imports from China, threatening domestic manufacturers' investments in new technologies and EV tractors.
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