Good news for senior citizens. Higher returns are available on fixed deposits. Small finance banks offer up to 8.5% interest on three-year FDs. Utkarsh Small Finance Bank leads with the highest rate. Be mindful of tax deducted at source. Submit Form 15H to avoid TDS if income is below the taxable limit.
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Infosys McCamish Systems (IMS) settled with Vermont's Department of Financial Regulation for failing to provide timely information during a cybersecurity incident investigation and delaying notifications to affected parties. IMS will pay a $125,000 penalty without admitting violations. This follows a $17.5 million settlement in March to resolve class-action lawsuits related to the 2023 breach.
Honda aims to capture 30% of India's two-wheeler market by 2030, recognizing the country's crucial role in its global growth strategy. The company sees significant potential in targeting female consumers, who currently represent only 10% of sales. While optimistic about electric vehicles, Honda acknowledges infrastructure challenges and plans a dedicated EV production plant in India by 2028.
Good news for senior citizens. Higher returns are available on fixed deposits. Small finance banks offer up to 8.5% interest on three-year FDs. Utkarsh Small Finance Bank leads with the highest rate. Be mindful of tax deducted at source. Submit Form 15H to avoid TDS if income is below the taxable limit.
Wyndham Hotels & Resorts is significantly expanding its presence in India, aiming to become a top growth market with over 50 new properties planned. The company intends to introduce more of its global brands while strengthening existing ones like Ramada.
In 2024-25, the Indian government disbursed Rs 10,114 crore under Production-Linked Incentive (PLI) schemes, with large-scale electronics manufacturing receiving Rs 5,732 crore and pharmaceuticals securing Rs 2,328 crore. These two sectors collectively accounted for approximately 70% of the total incentive disbursements, highlighting their significant role in the PLI initiative.
Electric car sales in India are expected to rise. CareEdge Advisory projects over 7% sales by FY28. This depends on resolving rare earth element supply issues. New models and charging infrastructure are growing. Government's PLI scheme supports battery production. Electric car ecosystem has grown rapidly. Policy support and reduced costs will boost EV adoption in India.
India is poised to produce its first commercial-scale, domestically manufactured semiconductor chip this year, marking a significant step in its semiconductor ambitions. IIT students have designed 20 chipsets, with eight already in the final design stage. The government's support through the India Semiconductor Mission and advancements in AI further bolster India's technological progress.
The government is preparing to establish the 8th Central Pay Commission. Consultations are underway with various ministries and state governments. This commission will revise the pay for central government employees and pensioners. The 8th CPC is expected to be implemented from January 1, 2026. The government revises dearness allowance twice a year to adjust for inflation.
India faces trade deficits with most countries having free trade agreements. These partners contribute significantly to India's overall trade deficit. Newer agreements show better utilization compared to older ones. Reviews of trade pacts with ASEAN and Korea are underway. India's reliance on FTA partners has increased, with imports rising. Efforts are ongoing to balance trade and improve agreement utilization.