Business

New Delhi: Gold and silver prices witnessed a moderate rise today. On the MCX, gold opened higher by around ₹500 per 10 grams, while silver jumped by over ₹1,000 per kilogram in early trading. Here’s a look at the latest rates and city-wise prices. MCX Price Trends Gold (2 April delivery): Closed at ₹1,55,761 per 10 grams in the previous session and opened today at ₹1,55,132. Early trades saw prices dip to ₹1,55,116 before rising to a high of ₹1,56,312. As of 10 AM, gold traded at ₹1,56,287, up ₹526 (0.34%). Silver (5 March delivery): Closed at ₹2,44,268 per kg yesterday and opened today at ₹2,42,439. It surged to ₹2,46,214 in early trades, and at 10:04 AM, it was trading at ₹2,45,300, up ₹1,032 (0.42%). International PricesAhead of key U.S. inflation data, the dollar strengt...

New Delhi: In a major relief for families struggling with paperwork and long processes after the loss of a loved one, Indian Overseas Bank (IOB) has launched an online portal to facilitate death claims. Under this initiative, claims up to ₹15 lakh can be settled within 15 days. Simplified Claim ProcessThe online portal allows family members or legal heirs to submit claims from anywhere, reducing the need to visit branches. According to the bank, this step aligns with RBI directives aimed at making claim procedures faster, easier, and transparent. For claims up to ₹15 lakh, there is no need for a third-party surety, and the bank guarantees settlement within 15 days of receiving all necessary documents. How to Submit DocumentsClaimants can visit digital.iob.bank.in/deathclaimonline ...

New Delhi: India is taking a major step toward self-reliance in battery manufacturing with the establishment of the country’s largest integrated lithium-ion battery gigafactory in Andhra Pradesh. The factory, set up by Waaree Energy Storage Solution (WESSPL)—a subsidiary of Waaree Energies—will manufacture lithium-ion cells, battery packs, and grid-scale Battery Energy Storage Systems (BESS). Location and CapacityThe gigafactory will be located in Rambilli, Anakapalli district, Andhra Pradesh. With a planned capacity of 16 GWh, it will produce battery cells, battery packs for electric vehicles, and BESS units capable of storing electricity and supplying it to the grid when renewable sources like solar or wind are unavailable. Investment and EmploymentThe project involves an investmen...

New Delhi: Nvidia, the world’s most valuable AI chipmaker, has advised that India must significantly increase its investment in AI and leverage it to make operations smarter if it wants to compete globally. Current AI Investment in India InsufficientCurrently, India invests around $1.2 billion in AI infrastructure—a figure Nvidia considers far below what is required. Speaking at the AI India Impact Summit, Nvidia’s Senior Vice President of Business, Shankar Trivedi, said that out of nearly 2,000 large multinational companies in India, about 1,800 have Global Capability Centers (GCCs) employing over 2 million people, which could rise to 3 million soon. Trivedi emphasized that each center should develop its own local AI “factory”, using AI to make data handling and operations more effi...

New Delhi: Gold and silver prices have seen significant declines in the first half of February, with gold falling nearly 16% and silver dropping 38%. However, the jewelry market has remained subdued, with major buying restricted primarily to households preparing for weddings. Price UpdateOn Wednesday, silver in Delhi’s jewelry market rose by ₹1,000, reaching ₹2.46 lakh per kilogram, while 99.9% purity gold became ₹300 cheaper, trading at ₹1,56,700 per 10 grams. These prices include all applicable taxes. Consumer BehaviorAccording to Senco Gold & Diamonds, store traffic has increased after the price drop, but customers are still cautious, avoiding bulk purchases. People are preferring lightweight jewelry for now. Suvankar Sen, MD of Senco, said that while value-based sales could s...

New Delhi: N. Chandrasekaran, the Chairman of Tata Sons, is likely to be granted a third term, with the company preparing to propose the extension at an upcoming Extraordinary General Meeting (EGM) next week. If approved, this move would be an exception to Tata Sons’ retirement policy, similar to the waiver granted to Ratan Tata in 2016 when he succeeded Cyrus Mistry as Chairman. Chandrasekaran will turn 63 in June, and the proposed extension would allow him to continue beyond the standard retirement age of 65 in a non-executive capacity. His current second term still has a year to run. Approval Backed by Tata TrustsLast October, Tata Trusts, the majority shareholder of Tata Sons, had passed a proposal supporting Chandrasekaran’s reappointment. Sources indicate that TCS top managemen...

New Delhi: The name Sabyasachi Mukherjee is now synonymous with luxury, heritage, and exquisite craftsmanship in the fashion world. But the journey to building this iconic brand was far from easy. From personal struggles and financial hardships to moments of deep despair, Sabyasachi’s story is a testament to resilience, creativity, and determination. Humble BeginningsBorn in 1974 in Kolkata to a middle-class family, Sabyasachi’s father was a refugee from Bangladesh. The family faced significant financial challenges after the decline of the jute industry and the growing use of plastic. These struggles shaped Sabyasachi’s character, creativity, and future ambitions, leaving a lasting impact on his childhood. A Difficult Education and Inner StrugglesFrom a young age, Sabyasachi was intr...

New Delhi: On Wednesday, the Indian stock market closed in the green, driven by broad-based buying and optimism around artificial intelligence. The BSE Sensex rose 283.29 points (0.34%) to close at 83,734.25, while the NSE Nifty gained 93.95 points (0.37%), ending at 25,819.35. The market opened flat with minor gains but slipped in early trade, briefly breaking a two-day rally. However, it recovered strongly later, finishing the day on a positive note. Most Nifty indices closed higher, except Nifty IT, which ended in the red. Sector Performance Nifty Midcap 100 Index: +0.50% Nifty Smallcap 100 Index: +0.54% Nifty Metal Index: +1.33% Nifty PSU Bank Index: +1.30% Nifty FMCG Index: +1.20% Nifty IT Index: -1.23% Top Gainers and LosersShares of Tata Steel, ITC, Axis...

New Delhi: Cryptocurrency investors are facing a challenging period, with major coins like Bitcoin struggling to maintain value. However, some digital assets have shown impressive gains in recent days, and Pi Network Coin is leading the charge. Over the past seven days, Pi Network has delivered more than 40% returns, surpassing Bitcoin, which has shown minimal movement of less than 1% during the same period. Current Market Snapshot As of Wednesday night, Bitcoin was trading around $67,000, up approximately 0.70% in the last 24 hours. Pi Network Coin was priced at $0.1876, reflecting a 42% gain in the past 24 hours.According to CoinMarketCap, Pi Network posted the highest seven-day returns among the top 100 cryptocurrencies. Still Far From Its PeakDespite the recent surge, ...

New Delhi: Passengers planning air travel, take note. The Directorate General of Civil Aviation (DGCA) has introduced strict new rules under a “Zero Tolerance Policy” for unruly behavior onboard flights. Anyone found misbehaving, particularly under the influence of alcohol or drugs, could face a lifetime ban from flying. The policy aims to ensure the safety of passengers, crew, and aircraft, while maintaining discipline and a positive environment during flights. The DGCA has prepared a draft framework outlining how airlines should deal with such passengers. Procedures Across AirlinesDGCA Chief Faiz Ahmed Kidwai has proposed that airlines must establish clear procedures to handle unruly passengers both onboard and at airports. Standard Operating Procedures (SOPs) will need to be imple...