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HDFC, ICICI Bank rates up for $ deposits

Mumbai: Hardening overseas rates, tough competition and strong client demand is forcing banks to tweak their FCNR (B) offerings to attract maximum dollars as banks get into the busy season of the special scheme.ICICI Bank and HDFC Bank, two of the largest private sector banks have both hiked a section of their FCNR (B) rates noting the changed scenario. With overseas rates also higher more banks could join in hiking rates in this scheme, people familiar with banks' plans said.While ICICI has hiked the rate on its FCNR (B) deposits for $5 million or above to 6.25% from 6%, HDFC has raised rate uniformly on its three- to five-year (FCNR) (B) dollar deposits by 25 basis points basis points to 6.25% from 6%. A senior bank executive said that the higher rates are a function of the market and competition. "The tweaks are required to keep rates competitive which is what large banks have done. Also the fact is overseas rates have gone up and borrowing is more expensive so banks have t...
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An Indian state is grappling with an ageing problem

from Economic Times https://ift.tt/Z4tgvhY
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UAE freezes Desi Bling star's assets

Mumbai: The UAE anti-money laundering agency Financial Intelligence Unit (FIU) is understood to have asked banks, financial institutions, and virtual asset service providers (VASPs) in the Emirates to put a temporary freeze on the accounts of Satish Sanpal, the 41-year-old Dubai-based Indian-origin businessman who stars in the Netflix docusoap series 'Desi Bling' that shows the lavish lifestyle of Sanpal and his wife Tabinda.Besides the financial services accounts and digital wallets of Satish, the FIU freezing order, issued about a fortnight ago, extends to accounts of Tabinda and companies linked to Sanpals."...you are immediately requested to freeze any funds or accounts or deposits or investments and deny access to the safe deposit boxes, and stop any financial transfers or withdrawals and inform us of any credit facilities belonging to the below mentioned names.." said the FIU communique.132795452The business entities covered in the notice are ANAX Capital Asset ...
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India Inc shifts AI hiring to applied skills

New Delhi: India Inc is shifting focus from hiring AI builders to recruiting engineers who can apply AI to solve customer problems, improve delivery and redesign workflows. New-age roles such as forward-deployed engineers and agentic AI engineers are seeing record demand.According to a CIEL HR analysis of over 200 companies in nine sectors conducted for ET, 90% of the firms are hiring for these roles to drive customer-facing solutions and internal efficiency. The survey covered IT services, IT products, startups, global capability centres, manufacturing, retail, ecommerce , financial services and logistics. Companies are deploying these skills both for customer solutions and internal use, a trend also confirmed by HR leaders at the RPG Group, Volvo Eicher Commercial Vehicles, EY and Savills India. "Today, firms are looking for people who can make AI useful, professionals who can solve customer problems, improve delivery, redesign workflows and help businesses create value," s...
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Italy suspends Schengen pact with Spain

from Economic Times https://ift.tt/QIJFNTB
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India targets 5 per cent global toy share

from Economic Times https://ift.tt/9f0bMFg
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Microsoft CEO Satya Nadella has a warning on AI

from Economic Times https://ift.tt/NThJjfv
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