Fruit for thought: Farmers turn to cultivation of exotic varieties

These fruits offer up to 50% higher returns than other local fruits, according to experts. "Over the last five years, farmers and entrepreneurs have realized the potential for exotic fruits and new varieties for both domestic and international markets," said Purnima Khandelwal, chief executive of InI Farms, a large exporter of horticulture products.

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ET analysis: RBI shows the fist to build 'future proof' digital financial ecosystem

Recent penalties on financial intermediaries by the RBI under Governor Shaktikanta Das reflect the regulator's intolerance towards non-compliance. The actions highlight serious violations, including non-compliance with regulations and deviation from good governance. The RBI is focused on improving compliance and transparency in the financial sector.

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India mulls quota-based duty cuts on gold imports to Switzerland under EFTA

Switzerland had sought duty concessions on inbound shipments of gold, which accounts for about 80% of India’s total imports from Switzerland. Quota based concessions to Switzerland are crucial as India has already extended 1% duty concession to gold importers under tariff rate quota in its trade pact with the UAE.

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US stocks rise on rate hopes as gold hits record high

US and European stock markets surged on Wednesday, while gold reached a record high of $2,150. The Federal Reserve's indication of potential rate cuts and the British government's pro-growth budget contributed to the positive market sentiment. The dollar weakened due to expectations of lower interest rates. Earlier in the week, US stocks had experienced a slight decline as investors secured profits ahead of Federal Reserve Chief Jerome Powell's congressional testimony.

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RBI bars JM Financial's arm from lending against shares

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As India gets poll ready, FTA talks with UK in last leg

India and the UK are in the final stages of negotiating a free trade agreement, with most talks completed at the negotiator level. The UK wants access to India's government procurement and a bilateral investment treaty before a trade pact. India's demand for more visas for workers and a social security agreement has been accepted by British negotiators, but requires the nod of UK prime minister Rishi Sunak.

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Balanced regulation vital for growth, says Uday Kotak

Addressing a two-day conference of the National Financial Reporting Authority (NFRA), Kotak said sacrificing growth to tackle risks is not a solution but problems need to be dealt with in an innovative manner. Kotak's comments come at a time when watchdogs across the financial sector-from the Reserve Bank of India to the Competition Commission of India-are increasingly facing pressure to balance regulations with innovation, especially due to the fast-paced evolution in the technology space.

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Services sector PMI eases in Feb to 60.6 from 61.8 in Jan

India's service sector growth slowed in February, but remained robust, according to a private survey. The HSBC India Services Business Activity Index fell to 60.6, from 61.8, indicating expansion. Despite the decline, service activity reached its second highest level in five months. However, milder growth clouded the business outlook. Of the 400 firms surveyed, 26% expect growth in the year ahead, while 2% predict a decline.

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Finance Minister Sitharaman asks CBIC to settle classification issues

​The tax officials under GST has detected fake ITC evasion of ₹.1.14 lakh crore from the year 2020 till date. "Fake entities and GST evasion not only erode our national revenue but also distort fair competition and fuel an underground economy," Sanjay Kumar Agarwal, chairman Central Board of Indirect Taxes (CBIC) told the field formations. He highlighted the importance of strong data analytics and the use of technology and the need to stay ahead of the perpetrators of GST evasion.

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