Economy

New Delhi: Intel Corp.’s newly appointed CEO, Lip-Bu Tan, will receive a compensation package valued at approximately $69 million as he steps into his role on March 18. His pay includes a base salary of $1 million, a 200 per cent performance-based bonus, and $66 million in long-term equity awards, stock options, and incentives, the

Mumbai: Silver Exchange-Traded Funds (ETFs) have gained massive investor interest over the past three years, with their assets under management (AUM) crossing Rs 13,500 crore as of January 2025, according to a report on Saturday. Currently, there are 12 Silver ETFs in the Indian market, with more than six lakh investor folios, the data compiled

Mumbai: The Reserve Bank of India (RBI) assured IndusInd Bank depositors of its financial stability following recent speculation about its financial health. The central bank confirmed that the bank remains well-capitalised and there is no cause for concern among depositors. “…there is no need for depositors to react to the speculative reports at this juncture,”

Mumbai: The Reserve Bank of India has won the Digital Transformation Award 2025, instituted by Central Banking, London. The RBI has been selected for the award for rolling out digital initiatives, including Pravaah and Sarthi systems, that have reduced the use of paper-based submissions to transform its internal and external processes. Central Banking, in a

Seoul: Samsung SDI Co., South Korea’s second-biggest battery maker, said it will raise 2 trillion won ($1.37 billion) through a stock sale as part of its broader growth strategy. Its board of directors approved the capital increase aimed at “preemptively” securing a capital to prepare for a rebound in the car battery market, the company

Seoul: Automaker Kia on Friday appointed Song Ho-sung to the company’s chief executive officer (CEO) position for another three-year term through an approval at the company’s shareholders’ meeting in Seoul. Since leading Kia from 2020, Song has overseen the record-breaking performance of South Korea’s No. 2 automaker during his past two terms, including the feat

New Delhi:  India has taken the lead in providing finance to renewable energy projects by including them in “priority sector lending” to accelerate the country’s transition to a low carbon economy in the fight against climate change. Addressing a policy seminar on Climate Change Risks and Finance, RBI Governor Sanjay Malhotra said, “Central Banks in

New Delhi: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3.10 lakh on JM Financial Products Limited over non-compliance. The penalty was imposed for not complying with certain provisions of the ‘Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions,

New Delhi: The 5G services, rolled out in all states and Union Territories, are presently available in 773 out of 776 districts in the country including Lakshadweep, the government informed the Parliament on Wednesday. As on February 28, 4.69 lakh 5G Base Transceiver Stations (BTSs) have been installed by the telecom service providers (TSPs) across

New Delhi:  As Airtel announced a partnership with Elon Musk’s SpaceX to bring its affordable satellite internet service to India, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, said on Wednesday that a new era of seamless global connectivity beckons for customers. Mittal said that soon, customers will be able to carry their mobiles to