Shares of Indian information technology (IT) companies slid on Friday, capping their worst weekly performance in four months, as concerns resurfaced that rapid advances in artificial intelligence (AI) could disrupt traditional technology services businesses. The Nifty IT index fell 1.5 per cent on Friday and declined 6.4 per cent over the week.

The selloff erased about ₹1.51 trillion in market capitalisation from IT stocks.

The Reserve Bank of India (RBI) on Friday said customers will be compensated up to Rs 25,000 for small-value digital frauds, with the central bank and banks sharing the cost, while customers will bear a small portion of the loss.

“It is also proposed to introduce a framework to compensate customers up to an amount of Rs 25,000 for loss incurred in small-value fraudulent transactions,” said Sanjay Malhotra, Governor, Reserve Bank of India.

Mahindra Group on Friday said it will invest Rs 15,000 crore in Maharashtra over the next ten years, which includes setting up an automobile and tractor manufacturing facility in Nagpur.

In addition, Mahindra will acquire land in the Igatpuri-Nashik region to expand current product and engine capacities.

External Affairs Minister S Jaishankar on Friday hailed the India-EU Free Trade Agreement as a "game changer" while addressing the inaugural India-EU Forum, organised by the Ananta Centre in partnership with the Ministry of External Affairs.

More than a decade after India first got a taste of cab on the app, a disruptor has entered the market trying to change the ride-hailing landscape.

The Ministry of Cooperation formally launched Bharat Taxi, a government-backed service, in the national capital region (NCR) and some parts of Gujarat on Thursday even as the market was sensing the arrival of new competition for some weeks now.

It is an exciting time for Air India and the changes will manifest in the air as well as on the ground this year, the airline's chief Campbell Wilson said as the Tata Group-owned carrier opened its new lounge at the Delhi airport.

The airline will also be opening lounges in San Francisco, New York and other cities.

The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday said India’s recent trade agreements are expected to support economic growth and exports, even as global uncertainty and geopolitical tensions rise.

Announcing the outcome of the Monetary Policy Committee (MPC) meeting, Malhotra said that the committee has decided to keep the repo rate unchanged at 5.25 per cent and continue with a ‘neutral’ policy stance.

Russia may remain India’s largest crude oil supplier, at least for the next few months, as Indian refiners continue to receive substantial volumes in the absence of clarity on the proposed US-India bilateral trade, according to interviews with legal experts, market participants and ship tracking data. Moreover, discounts on higher quality Russian oil are twice as much as readily available dirty Venezuelan oil.

The Supreme Court on Thursday agreed to list for hearing in March a PIL seeking direction to seize the symbol or deregister a political party that promises or distributes "irrational freebies" before polls.

Lawyer-petitioner Ashwini Updhyaya told a bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi that the notices on his PIL were issued to the Centre and the Election Commission in 2022 itself, and urged it to list the matter soon.

The headwinds may finally be turning into tailwinds for foreign investment flows into India with the announcement of a trade deal between New Delhi and Washington, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Wednesday, arguing the country’s macroeconomic fundamentals were strong even when investors began pulling out nearly a year ago.

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