News95

The rupee marginally strengthened against the US dollar, closing at 85.52, supported by a weaker greenback and anticipation of Federal Reserve rate cuts. However, a sharp decline in domestic equities, with the Sensex and Nifty falling significantly, and rising crude oil prices, limited the rupee's gains. Foreign institutional investors also offloaded equities, further impacting market sentiment. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/TXmHkhC

SBI is bolstering customer service by hiring 13,455 junior associates as part of a larger recruitment drive. The bank is also focusing on customer satisfaction through real-time measurement tools and has increased claim settlement limits for heirs to ₹15 lakh. Despite the hiring spree, the overall employee count is expected to rise marginally to 2.36 lakh by March 2025. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/EO75wqN

To combat rising cyber fraud in the stock market, SEBI will launch a verified payment system from October 1st. This mechanism will help investors identify genuine SEBI-registered entities when transferring funds via UPI, preventing scams. The new UPI address structure will undergo verification at three levels: SEBI, banks, and NPCI. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/w9eCykA

The government has reduced the Basic Customs Duty on crude edible oils like soybean, sunflower, and palm from 20% to 10% to control rising prices. This move widens the import duty differential, encouraging domestic refining and reducing refined oil imports. The food ministry has directed industry associations to immediately pass on the duty reductions to consumers by adjusting prices. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/gITYWBK

Maruti Suzuki will reduce e-Vitara production. The company faces rare earth magnet supply issues from China. Initial production will be lower than planned. Maruti Suzuki plans to manufacture around 8,000 units in the first half of the fiscal year. The company is also re-calibrating production plans for other models. Maruti Suzuki seeks government help to resolve the magnet supply issue. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/gG69u4X

The auto industry faces supply chain issues. China's restrictions on rare earth magnet shipments are the cause. Automakers request government to relax domestic value addition norms. This is for production-linked incentive scheme. Companies seek permission to import complete assemblies from China. This is a short-term solution to avoid production disruptions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/YQdPXI1

Byju's has sold its US subsidiaries, Epic and Tynker, through US bankruptcy proceedings as part of its asset liquidation after a financial downturn. Epic was acquired by TAL Education Group for $95 million, while CodeHS purchased Tynker for $2.2 million. These sales aim to help lenders recover losses from a $1. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/tHSnEvO