The Reserve Bank of India (RBI) on Wednesday consolidated regulatory instructions relating to risk management, compliance and internal audit functions for commercial banks, requiring lenders to establish dedicated control functions headed by a chief risk officer (CRO), chief compliance officer (CCO) and head of internal audit (HIA).

The amended directions will come into effect from January 1, 2027.

Canada introduced legislation on Wednesday that could bar children younger than 16 from having social media accounts unless the companies show they can make their platforms safe.

Canada is joining a growing global effort to tighten safety protections. Canadian government officials said social media platforms can obtain an exemption if they have put in place sufficient safeguards.

Bharti Airtel has rebranded its Priority Postpaid service, which triggered net neutrality debate, as Fast Lane service, extending the promise of faster connectivity to postpaid users, the company said on Wednesday.

The company has made changes on the website, and signals on mobile phones are also displaying the "Fast lane" name now.

Sources in both the Congress and the Trinamool Congress (TMC) on Wednesday dismissed speculation that the West Bengal-based party could merge with its parent organisation, the Congress.

The speculation gathered pace after TMC chief Mamata Banerjee met Congress Parliamentary Party chairperson Sonia Gandhi on Tuesday.

Facebook parent Meta said on Wednesday it has tied up with Reliance Industries to build the US company’s first AI-powered data centre in India, a 168-megawatt facility located in Jamnagar.

Meta, which also owns Instagram and WhatsApp, will take this centre on lease, with an option to expand.

Elon Musk's satellite internet provider Starlink said it remains in active discussions with the Indian government and has received encouraging feedback on its potential to support the country's connectivity goals, as the company awaits final regulatory clearance to begin commercial operations.

Prime Minister Narendra Modi will chair the 11th Governing Council meeting of NITI Aayog on Thursday to deliberate on the approach to realise the government's vision of inclusive human development for Viksit Bharat @2047 and translate it into concrete, measurable outcomes for every citizen across the country.

Trinamool Congress MP Sushmita Dev on Wednesday resigned from the party and the Rajya Sabha, dealing a fresh blow to the Mamata Banerjee-led party which is facing an internal storm after its defeat in the West Bengal assembly polls.

Amid speculation that she may join the BJP, Dev said she has resigned due to "personal and political reasons".

The Bombay High Court has granted interim protection from prosecution and penalty to industrialist Anil Ambani in an alleged tax evasion case, while admitting his petition challenging the constitutional validity of provisions of the Black Money Act.

Ambani, in his plea, said certain provisions of the (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, were "ultra vires" (beyond the powers/violative) to the Constitution of India.

The death toll from the Visakhapatnam Steel Plant explosion has risen to nine, following the death of another worker on Wednesday.

A sudden severe explosion in Rashtriya Ispat Nigam Ltd (Vizag Steel Plant) in Vizag killed eight workers and injured six more on June 8, followed by another worker succumbing to severe burn injuries today.

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