RBI Governor Sanjay Malhotra has urged bank CEOs to reduce intermediation costs and improve operational efficiency, citing the 125-bps rate cuts since February. The repo rate is now at a three-year low of 5.25%.

RBI Governor Sanjay Malhotra has urged bank CEOs to reduce intermediation costs and improve operational efficiency, citing the 125-bps rate cuts since February.

RBI urges cost cuts; PFC-Sidbi scrap bond issues; insurance premiums surge in November & more

RBI urges cost cuts; PFC–Sidbi scrap bond issues; insurance premiums surge in November & more

The government has extended the tenure of State Bank of India Managing Director Ashwini Kumar Tewari for another two years.
The central government re-appoints Ashwini Kumar Tewari as Managing Director in State Bank of India (SBI) with effect from the date of his assumption of charge of the post, beyond his currently notified term, which is ending on January 27 2026, till the date of his superannuation that is December 31, 2027, the state-owned lender said in a regulatory filing on Wednesday.
This is the second time that Tewari got a two-year extension. The first time he got an extension was in 2024.
He was appointed as MD of SBI in January 2021 for an initial three-year term.
The SBI board is headed by the Chairman, assisted by four managing directors.

This is the second time that Tewari got a two-year extension. The first time he got an extension was in 2024

Press Trust of India

Tata Chemicals Ltd on Wednesday said it has raised Rs 1,500 crore through the allotment of non-convertible debentures (NCDs) on a private placement basis.
The company has allotted 1,50,000 listed, unsecured, rated, redeemable, taxable, non-cumulative non-convertible debentures, having a face value of Rs 1 lakh each, for cash, it said in a regulatory filing.
The NCDs have a tenure of two years and 364 days, and carry a fixed rate coupon of 7.06 per cent, Tata Chemicals said.
The debentures have been issued to identified investors based on multiple yield allotment methods, it added.
The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE).
The allotment was approved by the internal committee constituted by the board of directors of the company, Tata Chemicals said.
NCDs are debt instruments issued by companies to raise long-term funds.  They are popular among investors seeking stable, fixed returns without equity exposure.

The NCDs have a tenure of two years and 364 days, and carry a fixed rate coupon of 7.06 per cent, Tata Chemicals said

The updated ChatGPT Images, powered by GPT Image 1.5, is said to bring faster image generation, improved subject consistency and a new dedicated Images space within ChatGPT

Business Standard

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The multi-lane free flow (MLFF) toll system and AI-driven highway management will be completed across the country by 2026-end, and after implementation, these technologies will eliminate wait time at toll plazas for commuters, Union Minister Nitin Gadkari informed the Rajya Sabha on Wednesday.
Responding to supplementaries during the question hour, the road transport minister said the new technology will be AI-based. Commuters will not have to wait any longer at toll plazas, and this will help save fuel worth Rs 1,500 crore and add Rs 6,000 to the government revenue.
"The multi-lane free flow toll (MLFF) is a very good facility. Earlier, we had to pay at the toll, and it would take 3 to 10 minutes; then, due to FastTag, the time has come down to 60 seconds or less. Our income has increased by at least Rs 5,000 crore. After MLFF came, replacing FastTag, cars can now cross the toll at a maximum of 80 km per hour, and no one will be stopped at the toll," he said in the House.
"Our ...

Commuters will not have to wait any longer at toll plazas, and this will help save fuel worth ₹1,500 crore and add ₹6,000 to the government revenue

The Delhi High Court on Wednesday refused to entertain a PIL seeking to direct the Centre and Indigo airline to pay four times the compensation of the full ticket price to all passengers whose tickets were cancelled during November and December after the new Flight Duty Time Limitation (FDTL) rollout.
A bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela said it has already taken cognisance of the issue in another public interest litigation (PIL) and granted liberty to the petitioner to seek intervention in the pending petition.
"We don't see any reason as to why the concerns raised here cannot be taken up in the earlier petition. The jurisprudence developed by the Supreme Court and high courts around PILs permits the court to expand the scope of a petition in public interest.
"We decline to entertain this petition with liberty to the petitioner to seek intervention in the pending petition. The writ petition stands disposed of," the bench said while dictati

A bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela said it has already taken cognisance of the issue in another public interest litigation

ICEGATE enables e-filing and customs payments by traders; RMS automates risk-based scrutiny; and ICES handles backend assessment and clearance workflows at Customs locations

Healthcare industry body NATHEALTH has asked the government to increase public spending on healthcare to over 2.5 per cent of GDP with urgent action to tackle non-communicable diseases, including tax deductions of up to Rs 10,000 on individuals for preventive health check-ups.
In its pre-Budget recommendations to the government, NATHEALTH said it outlined a roadmap to strengthen healthcare delivery, foster innovation, and expand insurance and preventive coverage.
The recommendations call for a balanced mix of fiscal support, structural reforms, and public-private collaboration to build a robust, future-ready health system, it said in a statement.
In its recommendations, NATHEALTH asked the sector to be declared 'core infrastructure' and create a healthcare infrastructure fund of Rs 50,000 crore, saying currently there is limited access to long-term, lower-cost capital for hospitals and diagnostic networks.
New projects have long gestational periods requiring flexible mid-term ...

In its pre-Budget recommendations to the government, NATHEALTH said it outlined a roadmap to strengthen healthcare delivery, foster innovation, and expand insurance and preventive coverage

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RBI urges cost cuts; PFC–Sidbi scrap bond issues; insurance premiums surge in November & more

RBI Governor Sanjay Malhotra has urged bank CEOs to reduce intermediation costs and improve operational efficiency, citing the 125-bps rate cuts since February. The repo rate is now at a three-year low of 5.25%.

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