interactions to operate. As per widely circulating reports, major US banks have started to block third party AI agents from accessing customer accounts and making transactions, as this independence could cause security concerns. The banking industry has remained concerned about such AI agents, which can autonomously transfer funds, book tickets or make payments under instructions from their owners. This has been possible after bank customers have shared their login ID and passwords with these agents, with banks hesitating to allow such arrangements with risks to their digital infrastructure and the customers being in question. Beyond banking, the rapid use of…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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Jamnagar, October 21: US Secretary of State Marco Rubio’s visit to Reliance Industries Limited’s (RIL) mega refining complex in Jamnagar has opened the doors for an opportunity for Indian crude oil majors to refine Venezuela’s viscous, high sulfur Orinoco crude. This step is part of Washington’s efforts to expand global fuel supplies amid the continuing stalemate with Iran in the Middle East. During his visit, Rubio discussed ways to increase Venezuelan oil processing in India, as this crude oil remains highly challenging to process, with Reliance, ONGC and a few other refiners having the skill to do so. Indian refineries…
Mumbai, October 20: Mukesh Ambani’s Jio Platforms Limited is all set to launch its initial public offering (IPO) on October 21, 2026, with a fresh issue of 27 crore shares with a total value of ₹30,187 crore (about $3.6 billion). This represents the largest public issue in Indian capital market history, with the proceeds expected to be used to repay or prepay its current borrowings, amounting to ₹27,500 crore, while the rest will be used toward general corporate purposes. And that’s the fine print that is beyond the hype over the IPO. Reliance Jio has grown to become India’s largest telecom…
New Delhi, October 19: Despite the Nifty 50 and Sensex declining nearly 12% in 2026, Union Minister Nirmala Sitharaman has reaffirmed that India’s growth story remains strong and resilient, she said in an interview with CNBC. Speaking on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank, Sitharaman explained how an abundance of cash in the financial system and the ease in trading have helped investors pull money out of equities much more easily. The Finance Minister pointed out how excess liquidity- the high volume of ready cash circulating in the financial markets,…
Johannesburg, October 19: Global mining major Vedanta Limited has announced a $600 million investment to expand production in its Gamsberg zinc mine in South Africa. This will double the facility’s annual production capacity to 500,000 tonnes, supporting Vedanta’s global target to reach a total zinc output of nearly 3 million tonnes. The expanded capacity was inaugurated by Vedanta Director Priya Agarwal Hebbar and South African President Cyril Ramaphosa at Gamsberg on October 18. “We welcome Vedanta’s ambition to establish zinc smelting capacity in the Northern Cape. Government must work with Vedanta and other partners to address their requirements.” Mr Ramaphosa…
New Delhi, October 17: India’s food safety regulator, the Food Safety and Standards Authority of India (FSSAI), has proposed to ban sucrose and fructose in food products intended for infants up to 6 months of age. According to a draft amendment in the Food Safety and Standards (Foods for Infant Nutrition) Amendment Regulations, 2026, this is aimed at reducing exposure to added sugars like sucrose and fructose. This measure is aimed at boosting early childhood health. In the existing Food Safety and Standards (Foods for Infant Nutrition) Regulations, 2020, sucrose and fructose were permitted upto a specific limit. The Ministry…
Mumbai, October 17: India’s technology benchmark, the Nifty IT index has witnessed an unprecedented 12.5% surge across four trading sessions, reporting its strongest weekly performance in nearly two decades. This rally added nearly Rs.3 lakh crore in market cap to the country’s top technology companies, a sharp turnaround as market participants return to established software service companies following better-than-expected September quarter (Q2 FY27) earnings results. This rally has come as a ray of hope for the markets, which have been battered by the flight of FIIs and the increasing pressure of inflation on economic activity. For the IT sector, Indian…
There is visible concern across India’s $315 Billion IT industry, with the industry now facing a double whammy of challenges that has made its reputation as a cheap IT outsourcing location obsolete. Across the board, TCS, Infosys, HCL and others have moved with global trends, laying off thousands while replacing them with AI bots as clients increasingly demand AI-enhanced solutions as against the conventional hourly billing model. And that’s how they are getting squeezed from both ends- AI implementation costs as well as rising digital infrastructure costs. “AI improves productivity, but not always enough to offset rising inference, cloud and…
Ahmedabad, October 15: Food processing company Prospect Consumer Products has commenced the supply of premium cashew kernels under the DriFruitz brand, to DJT Retailers Pvt Ltd, which operates the Deerika brand. This arrangement is aimed at helping boost the company’s distribution and retail networks, especially with gift hampers and products targeted for the festive season. Prospect Consumer has already commenced dispatches, with further dispatches scheduled as well. The company is also aiming to list DriFruitz on the Hyperpure platform, and offer its hampers at corporate events and golf tournaments. Beyond this, the company is exploring opportunities to expand its distribution…
Mumbai, October 15: Electrical equipment major Polycab India Limited delivered strong results for the quarter ended September 30, 2026 (Q2 FY27), with net profit rising to ₹989 crore, up 49% from ₹664 crore in the same period last year. Sustained demand across its wires and cables and FMCG sectors throughout the quarter helped, with revenues growing 53% year on year to ₹9,898 crore from ₹6,467 crore last year. Despite this, Polycab’s stock slid nearly 2.5% due to the news, as investors worried about sustainable growth for the company given the challenges with raw material supply and Ultratech Cement’s foray into…
