Today's top stories include RBI's forex swap. PM Modi's call for improving concert economy post Coldplay success, new UPI announcement and more.
The Indian equity benchmark indices closed higher, ending a two-day decline. The NSE Nifty 50 ended 146.90 points, or 0.64% up at 22,976.05, and the 30-stock BSE Sensex ended 535.23 points, or 0.71% higher at 75,901.41.
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The Reserve Bank of India issued on Tuesday details on the dollar-rupee buy/sell swap auctions that it is set to conduct on Jan. 31 of $5 billion for a period of six months.
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Prime Minister Narendra Modi said on Tuesday that the huge success of Coldplay in Mumbai and Ahmedabad is a testament to the massive potential India has for live performances. Coldplay recently made waves in India with five concerts in Mumbai and Ahmedabad.
Photo Credit: Coldplay/Instagram
OpenAI, the US-based parent company of ChatGPT, told the Delhi High Court on Tuesday that Indian courts do not have the jurisdiction to rule on copyright infringement lawsuits filed against the company.
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Indian IT companies may experience a 10-30% rise in employee costs due to the anticipated changes in the H1B Visa program. This shift could also result in more offshoring because of skill shortages and higher wages in the US, potentially benefiting the IT sector.
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Cred and One Mobikwik Systems Ltd. announced on Tuesday the launch of their respective e-rupee pilot, in collaboration with the Reserve Bank of India and Yes Bank.
Photo Credit: Cred/X
National Payments Corporation India or NPCI on Tuesday has released a statement about Unified Payments Interface transactions that will affect some users.
Photo Credit: NPCI/ YouTube
The maker of India’s best-selling scooter is ready for an electric overdrive in the world’s largest two-wheeler market. Japan’s Honda Motor Co. Ltd. will begin operating a dedicated motorcycle production plant in India by 2028.
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