Category Archives: Business

RBI Holds Rates Steady, Unveils Measures to Strengthen Capital Flows and External Stability

By:-Mr. Anil Bamboli, Head, Fixed Income of HDFC Asset Management Company Limited (HDFC AMC).

“The Monetary Policy kept the policy repo rate unchanged and maintained a neutral stance. It also revised its FY27 projections, lowering the growth outlook while increasing the inflation estimate.

In view of prevailing elevated global uncertainty, we believe, policy reflects a prudent, calibrated and constructive approach. Going into the policy, external sector and INR challenges were more imperative to address. RBI announced a comprehensive set of forex and capital flow measures aimed at bolstering the balance of payments and mitigating volatility. Initiatives such as expanding the Fully Accessible Route (FAR) for G-secs, restoring export realisation timelines, easing FPI limits, relaxing equity investments for non-resident individuals, incentivizing ECB inflows through concessional forex swaps, and supporting FCNR(B) deposits by covering hedging cost – are geared towards attracting stable foreign capital and should aid in reinforcing external stability. This was also complimented by government removing tax on FPI interest and capital gain on sovereign bonds. 

We believe that these measures should address multiple concerns in one go – improve capital flows, stabilise currency, shore up forex reserves, improve system liquidity, moderate credit to deposit ratio for banks, and result in money market and corporate bond yields drifting lower. In view of the above, Indian fixed income outlook appears favourably placed from a medium to long term perspective. “

Shatz, Schwartz and Fentin encourages families to view estate planning as a defense against AI-driven financial scams

SPRINGFIELD, Mass. – As AI and high-tech scams targeting older adults become more sophisticated and more widespread, attorneys at Shatz, Schwartz and Fentin P.C. are encouraging families to view estate planning as an important tool for financial protection and fraud prevention.

The most recent Federal Trade Commission numbers show older Americans reported losing $2.4 billion to fraud, four times the amount reported just four years earlier. Increasingly sophisticated scams target seniors through fake tech support alerts, impersonation schemes, investment fraud, online romance scams and other digital tactics.

Estate planning and elder law attorneys say documents such as durable powers of attorney, trusts, health care proxies and trusted financial contacts can help families respond more quickly when suspicious activity or signs of diminished capacity arise.

“Estate planning is not only about what happens after someone passes away,” said Attorney Carol Cioe Klyman, a shareholder at Shatz, Schwartz and Fentin P.C. and co-author of the third edition of Massachusetts Elder Law. “It can also help protect individuals during their lifetime, especially at a time when financial scams are becoming more aggressive and increasingly targeted toward seniors.”

Attorneys say in many cases, victims may not realize they are being exploited until substantial financial damage has already occurred. Proactive planning and conversations among family members can help establish safeguards before problems develop. Having legal documents in place can provide trusted individuals with the authority to assist with financial decisions, monitor concerns and intervene when necessary.

Mumbai Tech Week 2026 Concludes, Uniting 10,000 Over Innovators to Advance India’s AI Future

Mumbai, June 5: Mumbai Tech Week 2026, the flagship AI festival presented by the Tech Entrepreneurs Association of Mumbai (TEAM) and the Government of Maharashtra  powered by IDFC FIRST Bank and co-powered by Meta and MMRDA, concluded its third edition after bringing together more than 10,000 developers, founders, investors, policymakers and AI enthusiasts  from across India’s technology ecosystem for two days of conversations, collaboration, innovation and action.

Held on May 29–30 at the Jio World Convention Centre, this year’s edition was built around one defining theme AI in Action. The festival served as a platform for major announcements around AI infrastructure, startup ecosystem development, talent creation and public-sector innovation, reinforcing Maharashtra’s ambition to emerge as India’s leading AI hub. MTW 2026 showcased how AI is increasingly moving beyond experimentation and becoming an integral part of businesses, products, public infrastructure and everyday experiences.

Inaugurating MTW 2026, the Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis, said,

“Mumbai Tech Week has become an important platform for bringing together founders, industry leaders, policymakers and innovators to shape the future of technology in India. The scale of participation and the quality of ideas showcased this year reflect the growing strength of Maharashtra’s innovation ecosystem. As AI adoption accelerates, we remain committed to creating an environment where innovation can thrive and translate into real-world impact.” 

A key highlight of the festival was the announcement by the  Chief Minister of Maharashtra, Shri Devendra Fadnavis, of a 2,000 GPU “Compute as a Service” initiative aimed at expanding access to high-performance computing infrastructure for startups, developers, researchers and innovators across the state. Further strengthening the ecosystem, the Mumbai Metropolitan Region Development Authority (MMRDA) and TEAM announced a strategic collaboration to support AI startups and emerging technology companies across the Mumbai Metropolitan Region, while the Brihanmumbai Municipal Corporation (BMC) unveiled CivitTwin, an AI-powered building approval platform designed to improve efficiency, transparency and speed in Mumbai’s construction permission process. 

MTW 2026 also marked three years of TEAM’s efforts to strengthen Mumbai’s technology ecosystem. To commemorate the milestone, TEAM released its Impact Report, highlighting a community of 84 technology founders representing more than 15 unicorns with a combined valuation exceeding $30 billion, alongside 100+ ecosystem initiatives that have helped foster collaboration across Mumbai’s startup and innovation landscape. 

Over the course of two days, attendees experienced live AI showcases and product demonstrations from leading global technology companies including OpenAI, Meta, Anthropic and Google Cloud, alongside prominent players from India’s technology and startup ecosystem such as IDFC FIRST Bank, Neysa, Swiggy, Razorpay, Urban Company, MakeMyTrip, Sarvam, Pine Labs and several high-growth startups. The demonstrations offered a first-hand look at how AI is being deployed across industries to improve productivity, enhance customer experiences and unlock new opportunities for innovation.

Commenting on the success of MTW 2026, Aakrit Vaish, Co-Chair, TEAM Governing Council, said,

“Mumbai Tech Week 2026 showcased the energy, talent and ambition driving India’s AI ecosystem. The scale of participation and quality of engagement over the past two days reaffirm Mumbai’s position as a leading hub for technology and innovation. As AI adoption accelerates, TEAM remains committed to bringing together founders, builders, investors and policymakers to create opportunities, foster collaboration and help shape India’s next phase of AI-led growth.”

Beyond the main stage, Mumbai Tech Week 2026 brought together startups, builders, talent and industry leaders through startup showcases, workshops, networking opportunities and founder-led conversations.

Startups also took centre stage through the Early-Stage Startup Showcase, where startups across AI, SaaS, fintech, healthcare and enterprise technology presented their innovations to investors and ecosystem stakeholders. The showcase was complemented by exhibition stalls from Meta, Fractal Analytics, upGrad, Shaadi.com, Zoom and several other technology companies.

Talent development also remained a major focus, with the AI-Powered Job Fair, organised in collaboration with Babblebots.ai, attracting more than 26,000 applications, facilitating over 6,500 AI-powered interviews and enabling 700+ in-person interviews across 24 hiring companies, including Shaadi.com, NPCI, Quantiphi, Select AI, amongst other leading companies.

The festival also featured masterclasses and workshops led by organisations including OpenAI, Meta, Replit and NPCI, offering practical insights into AI, product innovation and emerging technologies. 

The festival also featured Stories Unplugged, a series of founder-led conversations that offered attendees a behind-the-scenes look at the journeys of some of India’s  entrepreneurs. Speakers including Roli Gupta from Babblebots.AI, Dilip Asbe of NPCI, and Rajdip Gupta of Route Mobile were amongst the TEAM members who reflected on building companies from the ground up, navigating moments of uncertainty, making pivotal decisions and scaling businesses.

In the lead-up to the festival, community-led satellite events held from May 25-28 extended Mumbai Tech Week across the city. A total of 14 satellite events brought together 500+ attendees through workshops, hackathons, meetups and founder interactions, further strengthening engagement across Mumbai’s technology and startup community. 

Mumbai Tech Week 2026 demonstrated that India’s AI ecosystem is entering a new phase defined by execution, collaboration and real-world deployment. The initiatives, partnerships and product showcases during the festival reflected how AI is increasingly being integrated into businesses, public services and everyday applications. As adoption accelerates across sectors, Mumbai is strengthening its position as a hub for innovation, entrepreneurship and AI-led growth.

Project HOPE CEO Rabih Torbah joins The Washington Post Intelligence Council for Global Security

Project HOPE is thrilled to announce that Rabih Torbay is joining the Washington Post Intelligence Council as a member of their Global Security Council. Torbay joined Project HOPE in 2017. In his current role as CEO, he oversees the organization’s global health and humanitarian programs across more than 30 countries. With decades of experience across complex emergency and development environments, Torbay brings deep expertise in global health, resilience, and international humanitarian strategy.

Torbay was invited to join the Washington Post Intelligence Council, which brings together senior business and policy executives across key sectors, providing valuable insight and opportunities at the intersection of business and policy.

He serves on the advisory board for Brown University’s Watson Institute for International Studies and Public Affairs Center for Human Rights and Humanitarian Studies. Torbay also serves on the Board of Directors for InterAction, working closely with other nongovernmental organizations as a united voice for global change.

His membership to the Global Security Council comes at a pivotal time for global health and the humanitarian sector writ large. His selection reflects the growing recognition that global health, humanitarian response, and community resilience are fundamental components of global security.

“As we continue to experience widespread conflicts and deadly disease outbreaks, our collective global security requires us to collaborate and identify timely solutions to the world’s most pressing challenges. I am honored to join this very impressive group of peers to do just that,” said Rabih Torbay.

From crisis response and health equity to international development and global resilience, Rabih Torbay brings a wealth of knowledge and is looking forward to contributing to discussions on the complex challenges shaping global security.

South Indian Bank, Choice International Welcome RBI Policy

South Indian Bank and Choice International Welcome RBI’s Balanced Policy Stance and Investor-Friendly Reforms

“The RBI‘s decision to keep the repo rate unchanged at 5.25% while maintaining a neutral stance reflects a balanced, prudent approach amid global uncertainties. With GDP growth revised to 6.6% and CPI inflation at 5.1% within the target range, the central bank rightly flags upward inflation pressures while demonstrating confidence in India‘s resilient economy. For the banking sector, this policy provides stability for asset-liability management and sustained credit growth. For borrowers, the status quo ensures no immediate change in loan servicing costs, offering a stable environment for home, vehicle, and business loans. The cautious neutral stance underscores the RBI‘s commitment to monitoring inflation and global developments before further action, with rates expected to remain low for an extended period. The regulatory measures are equally significant. The proposal to increase NRI/OCI investment limits in listed equity without SEBI registration, extended to all individual PROIs, plus the removal of capital gains tax on government securities for foreign investors, will strengthen foreign currency inflows and banking liquidity. For banks with strong NRI customer bases, the FCNR(B) deposit relaxation aids deposit mobilisation and funding flexibility. Improved forex liquidity and greater foreign participation in government bonds contribute to a stable operating environment. As Governor Sanjay Malhotra noted, India‘s economy is ‘in a good spot,’ and this policy appropriately balances growth with macroeconomic stability amid external uncertainty, creating a conducive environment for responsible credit expansion and financial inclusion.”

 “The RBI‘s decision to keep the repo rate unchanged at 5.25% while maintaining a neutral stance reflects a balanced, pragmatic approach amid elevated global uncertainty and rising crude oil prices. The upward revision in CPI inflation projections to 5.1% and GDP growth outlook to 6.6% highlights the central bank‘s focus on price stability while recognizing the resilience of India‘s economy and strength of its macroeconomic fundamentals, as Governor Sanjay Malhotra noted that India‘s economy is ‘in a good spot’. Beyond the rate decision, the policy’s key highlight is its emphasis on enhancing India‘s appeal to global investors. The proposal to increase investment limits for NRIs and OCIs in listed equity instruments without SEBI registration, and to extend the same facility to all individual Persons Resident Outside India (PROIs), is a significant step toward broadening participation in Indian capital markets, expected to improve market depth, liquidity and long-term capital inflows. Equally important is the removal of capital gains tax on government securities investments for foreign investors. This move strengthens the attractiveness of India‘s bond market and could encourage greater foreign participation in government debt. At a time of heightened global volatility, these measures reinforce investor confidence, support capital inflows, and reaffirm India‘s commitment to building deeper, more globally integrated financial markets, with the policy rate expected to remain low for an extended period.”

KidZania India and Magic Bus India Foundation Bring Empathy, Kindness and Creative Expression to Life for Children

Mumbai, June 5: KidZania India, a global leader in edutainment, has partnered with Magic Bus India Foundation, one of India’s  non-profit organisations working with children and youth, to launch the Greeting Card Making Establishment at KidZania Mumbai and Delhi NCR.

The initiative invites children to participate in a creative, purpose-led activity to design thoughtful greeting cards filled with hope, encouragement, and joy for children supported by Magic Bus. Through this immersive, play-based learning experience, children will be encouraged to explore empathy, social awareness, kindness, and the importance of inclusion towards underserved communities. 

Designed as an engaging hands-on experience for children aged four and above, the establishment will encourage participants to express themselves through art and creativity. Guided by KidZania’s Zupervisors, children will create peronalized cards using colorful materials and meaningful messages, learning how small gestures can become powerful expressions of care and connection. 

Speaking on the launch, Tarandeep Singh Sekhon, Chief Business Officer, KidZania India, said,

“The Magic Bus Greeting Card Maker role-play is a meaningful addition to KidZania as it encourages children to understand the importance of empathy, kindness and social responsibility through a hands-on creative experience. By designing greeting cards for underprivileged children, kids not only express their creativity but also learn the joy of giving back. At KidZania, we believe role-play can do more than entertain — it can help children better understand the world around them and their role in shaping it. Our partnership with Magic Bus enables us to create an activity that is engaging, enjoyable and deeply purposeful.”

Jayant Rastogi, Global CEO, Magic Bus India Foundation, said, 

“At Magic Bus, we believe critical life skills such as empathy and creativity are best nurtured early in life. Through our partnership with KidZania, we are creating an engaging space where children can express creativity while understanding the value of compassion, inclusion, and social responsibility. Through immersive, hands-on experiences, we hope to encourage young minds to recognise the role each individual can play in building a more inclusive and better society. We also hope such collaborations inspire more organisations to come together, create collective impact, and reach underserved communities at scale.”

The activity will support children’s development by encouraging creative expression and nurturing empathy, kindness, social awareness, and emotional expression in an interactive environment. With this launch, KidZania further strengthens its commitment to meaningful learning experiences that combine creativity with real-world values for children, and Magic Bus brings its focus on empathy, positive childhood development, and inclusion into a live experiential setting.

Baker Tilly Asia-Pacific to Host Webinar on Latest Transfer Pricing Developments Across the Region

June 10 Webinar to Provide Key Insights into Evolving Transfer Pricing Regulations Across Five Major Jurisdictions

Malaysia, June 5: Businesses and tax professionals across the Asia-Pacific region will have an opportunity to gain valuable insights into the rapidly evolving transfer pricing (TP) landscape through an upcoming webinar hosted by Baker Tilly Asia-Pacific.

Scheduled for 10 June 2026, from 1:00 PM to 2:00 PM (GMT+8) on the Zoom platform, the webinar will bring together leading transfer pricing specialists from across the Baker Tilly Asia-Pacific network to discuss the latest regulatory developments and emerging trends impacting multinational enterprises and tax practitioners.

As transfer pricing regulations continue to become more sophisticated and closely scrutinized by tax authorities worldwide, organizations operating across borders face increasing challenges in maintaining compliance and managing tax risks. The webinar aims to provide participants with a concise, practical, and jurisdiction-specific overview of recent changes, enabling businesses to stay informed without navigating multiple sources of information.

The session will feature presentations from experienced transfer pricing professionals representing several Asia-Pacific jurisdictions, including Australia, Cambodia, Japan, India, and Malaysia. Speakers will discuss recent legislative changes, compliance requirements, tax authority expectations, documentation obligations, and key developments shaping transfer pricing policies within their respective markets.

According to Baker Tilly Asia-Pacific, the webinar has been designed to help organizations better understand the evolving regulatory environment and prepare for potential transfer pricing challenges in an increasingly interconnected global economy.

The event is expected to attract finance executives, tax directors, CFOs, transfer pricing specialists, consultants, and multinational business leaders seeking to keep pace with changing international tax requirements and regional developments.

With transfer pricing remaining a critical area of focus for tax authorities worldwide, the webinar offers a timely opportunity for professionals to gain expert perspectives and practical guidance from specialists operating on the ground across the Asia-Pacific region.

Crafting a Greener Legacy : ITC Royal Bengal and ITC Sonar Celebrate World Environment Day in Style

June 05: As the world pauses to reflect on its relationship with the planet, ITC Royal Bengal and ITC Sonar mark World Environment Day with more than just a statement — they mark it with action. Guided by the philosophy of

Responsible Luxury, these two iconic properties have long recognised that true hospitality must serve not only their guests, but also the world those guests inhabit. Sustainability here is not an afterthought; it is the foundation upon which every experience is carefully built.

A thriving farm-to-table culture, supported by on-site kitchen gardens, ensures that guests enjoy fresh, locally sourced produce — reducing the carbon footprint while elevating culinary authenticity. EV charging facilities on the premises also make it easier for environmentally conscious guests to travel responsibly.

A landmark achievement in this sustainability journey came in April 2026, when ITC Royal Bengal received the coveted LEED Zero Water certification from Green Business Certification Inc. (GBCI), joining a select circle of properties worldwide recognised under the U.S. Green Building Council’s LEED Zero framework for achieving net zero water consumption. This follows ITC Sonar‘s own LEED Zero Water certification in 2023 — a testament to ITC Hotels’ consistent, measurable impact on environmental stewardship.

This World Environment Day, ITC Royal Bengal and ITC Sonar stand as proof that true luxury and genuine responsibility are not just compatible — they are inseparable.

World Environment Day: Smiling Tree Inspires Positive Change with “One Hand, One Tree, One Hope”

World Environment Day: Smiling Tree Inspires Positive Change with “एकहाथ, एकपेड़, एकआशा” (One Hand, One Tree, One Hope)

New Delhi, India | June 05 – World Environment Day 2026 – Marking World Environment Day, Smiling Tree reinforced its commitment to environmental sustainability and climate action through its inspiring campaign, “एकहाथ, एकपेड़, एकआशा” (One Hand, One Tree, One Hope). The initiative encourages individuals, families, students, and organizations to plant and nurture trees while taking personal responsibility for protecting the environment.

At a time when climate change, deforestation, and environmental degradation continue to pose significant challenges, Smiling Tree believes that meaningful change begins with simple actions at the grassroots level. Through tree plantation drives, awareness programs, and community engagement activities, the organization is spreading the message that every individual has the power to contribute toward a greener and healthier future.

Speaking on the occasion, Dr. Mukesh Kwatra, Founder of Smiling Tree, highlighted the importance of collective action in environmental conservation.

“Environmental protection is no longer an option—it is a shared responsibility. Our campaign, ‘एकहाथ, एकपेड़, एकआशा,’ represents the belief that every helping hand can plant a tree, and every tree can create hope for future generations. Trees are among nature’s greatest gifts. They provide oxygen, absorb carbon emissions, support biodiversity, improve air quality, and help combat the effects of climate change. If each individual commits to planting and nurturing even one tree, the impact can be extraordinary,” said Dr. Kwatra.

Over the years, Smiling Tree has become a recognized environmental and social initiative dedicated to promoting sustainability, tree plantation, environmental awareness, and community participation. The organization has successfully engaged thousands of volunteers, students, environmental advocates, and corporate partners in its efforts to increase green cover and encourage responsible environmental practices.

As part of the World Environment Day celebrations, volunteers participated in plantation activities across residential communities and green public spaces. Educational sessions and awareness campaigns were also conducted to highlight the importance of biodiversity conservation, water preservation, waste reduction, and sustainable living.

The campaign’s message, “एकहाथ, एकपेड़, एकआशा,” serves as a reminder that every tree planted today contributes to a cleaner environment, stronger ecosystems, and a better quality of life tomorrow.

On this World Environment Day, Smiling Tree renewed its pledge to continue driving positive environmental change and called upon citizens across the country to join the movement. By embracing the spirit of “एकहाथ, एकपेड़, एकआशा,” individuals can become active participants in building a greener, cleaner, and more sustainable future for generations to come.

CORONA Remedies Marks World Environment Day with ‘Green Footprint’ Sustainability Campaign Across Operations

Ahmedabad,  June 5: Reinforcing its commitment to environmental sustainability and responsible corporate citizenship, CORONA Remedies Limited marked World Environment Day through its ‘Green Footprint’ campaign in its Head Office in Ahmedabad and manufacturing facilities in Bhayla, Gujarat, and Solan, Himachal Pradesh. The campaign brought employees together through a range of initiatives focused on sustainable living, carbon emission reduction, resource conservation, greener mobility, and circular waste management. As part of the initiative, the company facilitated the recycling of approximately 100 kilograms of textile waste, undertook plantation activities, and encouraged employees to adopt environmentally responsible practices in their daily lives.

At the company’s Head Office in Ahmedabad, employees organized a unique “Best Out of Waste” plantation activity by reusing plastic bottles as planters, creating a beautiful green vertical garden of over 300 plants within the premises. In an effort to reduce emissions, all 250 employees voluntarily commuted via public transport for the day. The office also observed energy and resource conservation measures by keeping elevators and printers shut throughout the day and conducting a one-hour electricity shutdown, resulting in reduction of 100 kg CO₂ emissions.

CORONA Remedies also partnered with ReCircle for a cloth recycling initiative at both its Ahmedabad Head Office and Bhayla Manufacturing Plant, collectively donating 100 kilograms of old clothes for responsible recycling instead of landfill disposal.

At the company’s Bhayla manufacturing facility, they also distributed more than 300 saplings to employees, encouraging plantation efforts beyond the workplace and into their homes. To promote environmental awareness and engagement, employees participated in quiz competitions, slogan-writing contests, and poem-writing competitions focused on sustainability and conservation. In addition, employees opted for carpooling and shared transportation to help reduce emissions.

Meanwhile, at the Solan manufacturing facility in Himachal Pradesh, employees undertook a plantation drive within the premises and were encouraged to reduce electricity consumption and adopt shared commuting practices for the day, reinforcing the importance of resource conservation and sustainable habits.

Commenting on the initiative, Mr. Brijesh Shah, Vice President, Human Resources, said,

“At CORONA Remedies, we believe that sustainability is driven by consistent action and collective responsibility. Through our ‘Green Footprint’ campaign, we sought to create meaningful opportunities for employees to contribute towards environmental conservation through simple yet impactful actions, whether by choosing sustainable modes of transport, recycling textile waste, conserving resources, or participating in plantation activities. The enthusiastic participation across our offices and manufacturing facilities reflects our shared commitment to building a greener future. As an organization, we remain focused on embedding environmentally responsible practices into our operations and fostering a culture where sustainability becomes an integral part of everyday decision-making.”

Through the ‘Green Footprint’ campaign, CORONA Remedies reaffirmed its commitment to fostering a culture of environmental responsibility across its operations and contributing towards a greener and more sustainable future.