In a joint statement the ASEAN Nations and India declared they would explore collaboration of cross-border linkages between payment systems through digital solutions. India will share its expertise and experiences in deploying Digital Public Infrastructures (DPI) like Aadhaar and Unified Payments Interface (UPI).
Finance Minister Nirmala Sitharaman criticised the European Union’s Carbon Border Adjustment Mechanism (CBAM) and deforestation rules as “unilateral” and harmful to countries like India, potentially hindering economic growth and green energy transition. Sitharaman assured that these concerns won’t derail the Free Trade Agreement (FTA) talks.
RBI plans to launch the Reserve Bank – Climate Risk Information System (RB-CRIS) to address fragmented climate data. The system will include a publicly accessible web directory and a data portal with standardised datasets, available in phases to regulated entities, announced RBI Governor Das.
BI Governor Das cautioned non-banking financial companies (NBFCs) against using unsustainable strategies to drive growth. He urged NBFCs, including microfinance institutions (MFIs) and housing finance companies (HFCs), to prioritise sustainable goals, risk management, and customer satisfaction, while maintaining a “compliance-first” culture.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) maintained the repo rate at 6.50% for the tenth time. The MPC changed its monetary policy stance from ‘withdrawal of accommodation’ to ‘neutral.’ RBI Governor Shaktikanta Das noted that yields on 10-year government bonds eased, influenced by the
SKYBER Aerospace has teamed up with Dubai-based Sibia Technologies to market made-in-India unmanned aerial vehicles (UAVs) across the Middle East and Africa. The partnership will provide customised military UAVs with advanced data security features, catering to defence and commercial sectors. SKYBER will deliver high-performance UAVs, while Sibia manages sales, service,
The US-India Comprehensive Global and Strategic Partnership is advancing with initiatives like the Indo-Pacific Economic Framework for Prosperity, alongside investments in clean energy and technology sectors.
At the India Mobile Congress 2024, Prime Minister Narendra Modi announced India's progress towards 6G rollout following its 5G success. He highlighted India's emergence as a smartphone manufacturing hub, with over 200 units now operating compared to just two in 2014. The Prime Minister noted that
