business news

The Reserve Bank of India (RBI) is expected to maintain the current repo rate of 6.5% during its final monetary policy committee (MPC) meeting of the year next week, according to HDFC Bank. The country's largest private sector bank, in a report, projected that the RBI would hold the repo rate steady, marking the 11th consecutive time since the last hike in February 2023.

Volkswagen India is under investigation for allegedly evading taxes worth $1.4 billion (₹11,842 crore), as the Centre issued a show-cause notice for the alleged misclassification of imports to avoid higher import duties. According to a report by Reuters, the notice was issued on Friday, alleging that Volkswagen's India unit, Skoda Auto Volkswagen India, had been mis-declaring and mis-classifying parts of its cars, including luxury models like Audi A4, Q5, Skoda Superb, and Tiguan SUV, to evade tax payments.

Zerodha CEO Nithin Kamath has voiced concerns over the growing menace of financial frauds after a Bengaluru-based techie lost ₹91 lakh in a stock market scam. The alarming incident is a stark reminder of the increasing prevalence of cybercrimes, with over ₹11,000 crore reportedly lost to scams in the past nine months alone.

Railway Minister Ashwini Vaishnaw on Friday praised the new Pamban bridge in Rameswaram, Tamil Nadu, calling it a "modern engineering marvel." The bridge, India's first vertical lift railway sea bridge, will replace the existing 105-year-old Pamban Rail Bridge, which had been in operation since 1914. The new structure is set to enhance connectivity, boost tourism, and support high-speed train services.

Air India has announced a significant enhancement to its services, with the deployment of its top narrowbody aircraft on five key metro routes starting from December. The move follows the recent merger of Vistara into Air India, which is expected to improve the airline's customer offerings and operational efficiency.

An Australian travel vlogger’s experience with a robot delivering food at a hotel in China has gone viral, igniting online discussions on automation’s efficiency and its implications for jobs in the service industry.

Zerodha founder and Indian billionaire Nithin Kamath has shared his reflections on India’s unique cultural diversity following his recent trip to Europe. His post, which was published on social media platform X (formerly Twitter), resonated with many users, igniting discussions about India’s contrasting cultural richness and the country’s unity in diversity.

Intel has been awarded a $7.86 billion subsidy from the U.S. government to support its semiconductor manufacturing projects, marking a significant step toward boosting domestic chip production. This subsidy, finalized by the U.S. Commerce Department on Tuesday, is part of a broader initiative to revitalize U.S. manufacturing and reinforce national security.

Infosys, the tech giant, has announced a significant performance bonus for eligible employees for the second quarter ending in September. Junior and mid-level employees in the company’s delivery and sales verticals stand to receive a performance bonus of up to 85%, to be paid alongside their November payout.

HDFC Life Insurance has reported an instance of a data leak and is currently assessing the potential impact of the breach. The company confirmed in a regulatory filing on Monday that it received communication from an unknown source who shared specific customer data fields with "mala fide intent."