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Press Trust of India

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Withdrawal of retirement provident funds to soon be automated: EPFO

Retirement fund body EPFO will soon automate the process for settling final provident fund withdrawal claims, fast-tracking the money transfer to the applicant's bank accounts, a top official said on Wednesday. The Employees' Provident Fund Organisation (EPFO) has more than seven crore members. At present, partial or advance withdrawal claims of up to Rs 5 lakh are settled through auto mode, and the deadline for the auto-settlement mode is three days from filing the claim. Speaking at the ASSOCHAM's National Seminar on New Labour Codes, Central Provident Fund Commissioner, EPFO, Ramesh Krishnamurthi, said, "We are also going to initiate, as far as feasible, auto-settlement for now...which was (available) only for advances. Now we are going in for auto-settlement of final withdrawals." He further added that the EPFO is going in for auto-settlement and auto-transfer of provident fund accounts in case a member shifts employers. "You don't have to file a form anymore. We try to ...

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Rupee falls to record low of 95.63 against US dollar in early trade

The rupee depreciated 35 paise to a record low of 95.63 against the US dollar in early trade on Tuesday, after US President Donald Trump said that the ceasefire with Iran was on life support with hopes for a deal with the country fading, triggering a surge in crude oil prices. Market sentiments remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after Trump rejected Tehran's latest response to a US-backed peace proposal, calling it totally unacceptable. At the interbank foreign exchange market, the rupee opened at 95.57 against the US dollar and then fell further to an all-time low of 95.63 against the greenback, down 35 paise from its previous close. On Monday, the rupee tanked 79 paise to settle at its record low of 95.28 against the US dollar. "Oil prices were largely steady in Asian trade on Tuesday after climbing nearly 3 per cent in the previous session, as US President Trump said that the ceasefire with Iran was on life

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Eliminating undernutrition could prevent 2.3 mn TB cases globally: Lancet

Addressing undernutrition could prevent up to 2.3 million tuberculosis cases worldwide, representing 23.7 per cent of infections among adults in 2023, according to a modelling study published in The Lancet Global Health journal. India could have seen the highest reduction in tuberculosis (TB) cases if undernutrition was addressed, followed by Indonesia, the Philippines and Pakistan, researchers, including those from London School of Hygiene and Tropical Medicine, estimated. "We estimated that eliminating moderate-to-severe undernutrition could avert 14 million tuberculosis episodes globally, representing 14.6 per cent of global adult incidence in 2023, while eliminating all undernutrition could avert 2.3 million episodes, representing a reduction in global tuberculosis incidence of 23.7 per cent," the authors wrote. The findings highlight the urgent need to scale up population-level nutritional interventions, social and health benefits from which could extend beyond tuberculosis, ..

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SBI chief flags rising risks from rapid growth in digital finance

State Bank of India Chairman C S Setty on Monday cautioned that rapid growth in digital finance, platform lending and data-driven underwriting is creating new vulnerabilities in the financial system, and said resilience must evolve alongside innovation. Speaking at the CII Annual Business Summit, Setty said banks and financial institutions must continue strengthening governance frameworks, capital buffers, cybersecurity capabilities and risk management systems. He said as the banking system undergoes technological transformation, India's financial architecture would have to remain resilient with trust embedded in all innovation. "As India's financial system expands in scale and complexity, trust must remain its foundational principle. Innovation without trust cannot sustain itself. The rapid growth of digital finance, platform lending and AI-driven underwriting creates new opportunities but also new vulnerabilities," he said at a session on 'The Future of Financing'. Setty warned t

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Rupee crashes 139 paise to 94.90 against US dollar in early trade

The rupee crashed 139 paise to 94.90 against the greenback in early trade on Monday after President Donald Trump rejected Iran's response to the US's peace proposal, following which crude oil prices surged rapidly. A strengthening US dollar and steep FPI outflows further pressured the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 94.97 against the US dollar before inching up to 94.90, down a staggering 139 paise from its previous close. On Friday, the rupee pared its losses and ended with a sharp gain of 71 paise at 93.51 against the greenback. Iran has sent its response to the latest US ceasefire proposal via Pakistani mediators and wants negotiations to focus on permanently ending the war, Iran's state-run media said on Sunday. Trump rejected Iran's proposal to end the months-long war as "totally unacceptable" without sharing details even as a key Republican leader urged him to consider the "military option". "After US President

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Google exploring India investments in AI infra, servers, drones: Vaishnaw

Internet giant Google is exploring investment opportunities across AI infrastructure, including the production of servers and drones, Union Minister Ashwini Vaishnaw said on Friday. This announcement follows Google's groundbreaking of its USD 15 billion AI hub in Visakhapatnam, Andhra Pradesh, in April this year. "Google is exploring investments in India across AI infrastructure and the manufacturing of servers and drones," Vaishnaw said in a social media post after meeting company officials.

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Digital platform launched to strengthen maternal, child healthcare services

The Union Health Ministry has launched a digital platform aimed at strengthening maternal and child healthcare services through seamless tracking of beneficiaries, real-time monitoring and interoperable health records. Launched during the national summit on Innovation and Inclusivity Best Practices Shaping India's Health Future, JANANI (Journey of Antenatal, Natal and Neonatal Integrated Care) is a service-oriented digital platform designed to comprehensively monitor and maintain digital health records of women during their reproductive years, a health ministry statement. Developed as an upgraded version of the existing Reproductive and Child Health (RCH) portal, the platform creates a longitudinal health record by capturing service delivery events across the continuum of care, the statement said. JANANI will facilitate continuous tracking of maternal and child healthcare services, including antenatal care, delivery preparedness, institutional delivery, postnatal care, newborn care,

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Rupee falls 28 paise to 94.77 against US dollar amid West Asia conflict

The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations. Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment. At the interbank foreign exchange market, the rupee opened at 94.77 against the US dollar, registering a fall of 28 paise over its previous close. On Wednesday, the rupee appreciated 69 paise to close at 94.49 against the US dollar. "Markets are currently focused on the critical 48-hour window during which the US expects Tehran's formal response through Pakistani ...

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Rupee to trade around ₹95 per US dollar by 2026-end amid Iran war: BMI

The Indian Rupee is likely to trade broadly sideways at around Rs 95 per US dollar by end-2026, from its current level of Rs 95.20 per US dollar, with the Iran conflict expected to weigh on its value, BMI said on Wednesday. However, slowing profit repatriation and central bank currency intervention will limit the pace of rupee depreciation, the Fitch group company said in a report. The US-Iran conflict has exerted downward pressure on emerging market currencies, especially for large energy importers like India. The rupee depreciated 4 per cent during March-April 2026 and currently trades at Rs 95.20/USD. BMI said it expects India's GDP to grow 7.6 per cent and inflation to hit 3.4 per cent during the current fiscal year (April 2025-March 2026). As a result of the currency's weakness, the Reserve Bank of India (RBI) intervened heavily in currency markets to stabilise the rupee. "Going forward, we expect the rupee to trade broadly sideways to end the year around Rs 95.00/USD. Our ...

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Rupee rises 23 paise to 94.95 against US dollar during early trade

The rupee appreciated by 23 paise to 94.95 against the US dollar in early trade on Wednesday as Brent crude prices retreated from their elevated level after US President Donald Trump hinted at a possible deal with Iran. Forex traders said oil prices fell to USD 108 per barrel, as signs of easing geopolitical tensions in the Middle East offset the lingering supply concerns. At the interbank foreign exchange market, the rupee opened at 95, then gained some ground and touched an early high of 94.95, registering a gain of 23 paise from its previous low. The rupee was later trading at 95.10 against the greenback. On Tuesday, the rupee settled at 95.18 against the US dollar, after witnessing an all-time intraday low of 95.44 on Tuesday on possible RBI intervention after investors retreated from riskier assets amid renewed clashes in the Gulf and targeting of UAE infrastructure, which reignited supply chain fears. The rupee, which fell to its all-time low of 95.44 on Tuesday, gained this

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