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AI agents can transform customer experience, says Arundhati Bhattacharya
As job roles shift and demand for empathy grows, AI agents are set to change how industry and business are impacted, says Salesforce regional head and former SBI chairperson Arundhati Bhattacharya
Peerzada Abrar Bengaluru
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Arundhati Bhattacharya describes her professional journey as 'a hell of a ride.' As president and chief executive officer of Salesforce South Asia, and formerly the first woman to chair the State Bank of India (SBI), she is helping steer one of the world's largest tech firms through an AI-driven transformation. In a video interview with Peerzada Abrar, Bhattacharya discusses the growing urgency for inclusive upskilling in India and outlines how Salesforce's 'Agentforce' platform aims to reduce strain on overburdened teams while improving customer service. 'Technology is the only answer,' she says, pointing to sectors from aviation to banking where intelligent
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India Today
2 hours ago
- India Today
RBI's big CRR boost: What it means for banks and you
In a move that could reshape borrowing trends and unlock fresh liquidity in the economy, the Reserve Bank of India (RBI) has slashed the repo rate by 50 basis points to 5.5%. But the bigger headline-grabber is the phased reduction in the Cash Reserve Ratio (CRR), a 100-basis point cut that will roll out in four stages from September 2025, bringing it down from 4% to 3%.The message is loud and clear: the RBI is on a mission to boost liquidity, encourage borrowing, and push India's growth story THE IMPACT ON BANKS?For banks, this is a green signal to lend more freely. By lowering the CRR, the RBI is unlocking nearly Rs 2.5 lakh crore, money that would otherwise sit idle with the central bank.'This gradual CRR cut, starting this September, will inject about Rs 2.5 lakh crore into the banking system,' said Pranay Aggarwal, CEO of Stoxkart. 'It provides a strong liquidity push and will support banks in expanding credit.'Banks will now have greater flexibility to offer loans, whether to businesses looking to invest or individuals buying homes, cars, or funding education. Experts believe this move will also help in faster transmission of the repo rate cuts, leading to cheaper loans across DOES THIS AFFECT YOU?If you're eyeing a home loan, car loan, or personal loan, this development could work in your favour. With banks gaining access to more funds, interest rates on loans are likely to drop, which means your monthly EMIs could Ghosh, Co-Founder of Jiraaf, believes this move is aimed at reviving consumer demand. 'The RBI's 100 bps CRR cut is designed to bring down borrowing costs and encourage people to spend, particularly on loans for homes, cars, and personal needs,' he put, cheaper credit could put more money in your pocket—and that's good news for both consumers and the broader economy.A BOOST FOR MARKETS AND KEY SECTORSBeyond individual borrowers, the ripple effect is expected to reach stock and bond markets too. Analysts predict that rate-sensitive sectors like housing, automobiles, and infrastructure will see a fresh wave of banking stocks like SBI, Kotak Bank, Axis Bank, HDFC Bank jumped over 1%, following rate-cut news by the to Narinder Wadhwa, Managing Director & CEO of SKI Capital Services Ltd, 'This move is expected to have a broad-based positive impact on the markets, especially on rate-sensitive sectors. The banking and NBFC sectors stand to benefit directly from lower funding costs and potentially improved credit demand, with stocks like HDFC Bank, ICICI Bank, Bajaj Finance, and SBI likely to gain.' He noted, 'The real estate and housing finance space is another key beneficiary, as lower interest rates make home loans more affordable, potentially boosting demand from developers like DLF and housing financiers like HDFC Ltd and LIC Housing Finance. The auto sector should also see improved sentiment, with cheaper vehicle loans supporting sales for companies like Maruti Suzuki, M&M, and Hero MotoCorp.'Jyoti Prakash Gadia, Managing Director of Resurgent India, views this as a bold step. "The RBI's 1% CRR cut clearly signals its commitment to fuelling credit growth. It makes Rs 2.5 lakh crore available to banks, nudging them to pass on the benefit of lower rates and supporting both retail consumption and capital expenditure,' she lower interest rates might squeeze bank margins slightly, the liquidity injection from the CRR cut could help balance things


Indian Express
6 hours ago
- Indian Express
‘It was always my intention to settle': Vijay Mallya on Kingfisher Airlines case
Fugitive liquor baron Vijay Mallya, in a four-hour-long video podcast aired on Friday, claimed he made four settlement offers from 2012, following the collapse of the now-defunct Kingfisher Airlines, to 2015, which the banks 'refused to accept'. 'It was always my intention to settle. Never did I say I didn't want to pay,' Mallya said in a conversation with podcaster Raj Shamani, his first since 2013. The founder and former owner of Kingfisher Airlines also said that he had met the chairperson of the State Bank of India at their training academy in Hyderabad and offered a settlement which was not accepted. 'They wanted the Rs 14,000 crore which is why they didn't accept,' he added. — Vijay Mallya (@TheVijayMallya) June 5, 2025 Earlier in February this year, Mallya, through his counsel, told the Karnataka High Court that though the sum of around Rs 6,200 crore owed to the banks had already been recovered, a statement regarding the recovery of Rs 14,000 crore was made by Union Finance Minister Nirmala Sitharaman in Lok Sabha in December last year. Mallya faces charges of cheating, criminal conspiracy, money laundering and diversion of loan funds. A few of his companies, including Kingfisher Airlines, face charges of violating The Companies Act, 2013, and norms laid down by the capital markets regulator. In a post on X after the podcast episode released, he wrote: 'For those who are interested, I have spoken for the first time in nine years on this podcast. I want to say sorry to employees of Kingfisher Airlines and also to set the record straight with facts and the truth.' Mallya, who has maintained his stance of denying any wrongdoing has been living, in the United Kingdom since March 2016. Mallya claimed that he went to the then finance minister Pranab Mukherjee (who served between 2009-12) saying that he needed to downsize the airlines which was not doing 'great' at the time. Mukherjee allegedly told him that he can continue 'as is and that's how it all started'. Responding to Shamani's query on the series of events that led to the downfall of the airlines, Mallya said a group of 15 to 16 government banks were part of the consortium of lenders.' Kingfisher Airlines never borrowed any money from SBI. Just to set the record straight,' he said. Elaborating on the set-up then, he said that the SBI was a lender to Air Deccan (later called Simplify Deccan). When Kingfisher and Deccan merged in April 2008, the SBI became a lender to the whole entity. 'The two different groups of banks that both the airlines had borrowed money from combined as one entity when the two merged,' Mallya explained. On the loans received, Mallya again referred to then FM Mukherjee and said: 'The consortium of 17 banks believed in the vision, they did their own appraisals.' 'There were times when the support from the then FM meant that when I presented to various banks that the airlines needed money, including the SBI, they would recognise it, appraise them correctly through SBI Capital Markets, and sanction loans, even though the credit worthiness of the airlines was short of the norms,' he elaborated. 'To that extent, I'm grateful,' Mallya said, adding that he 'infused' Rs 3,000 crore from his UB Holdings Limited 'in cash'. 'You talk about money siphoning, using Kingfisher money for my lifestyle, for Formula 1, but nobody talks about the money I infused in cash to keep it afloat,' he told Shamani. ' I gave my personal guarantee, UB Group also did. Please never forget, I gave my personal guarantee… Koyi chor kabhi apna personal guarantee deta hai kya? (Does any thief ever give personal guarantee?)' Further, he cited entrepreneur Kiran Mazumdar Shaw who has said often publicly that Mallya put everything on the line for Kingfisher. 'But that's not appreciated. That's sad. Let the narrative be whatever it is,' he added. 'That is why I say I haven't bothered about it in the last nine years because it is written by the Indian media, of course, prompted by the government who held their own press conferences etc.' On the collaterals involved in the bank loans, the businessman said the Kingfisher brand name was one it among stocks, shares and property. The Rs 14,000 crore recovered by the banks, he said, involves his personal shares. 'Nobody dreams up share values. That's your answer to all the narratives.' he pointedly remarked. 'Vijay Mallya has not borrowed a single rupee from anybody ever' Kingfisher Airlines, the company, borrowed and I was the guarantor, there's a big difference,' Mallya asserted.


Time of India
6 hours ago
- Time of India
What should FD investors do now as interest rates to fall further with RBI cutting repo rate again by 50 bps
The Reserve Bank of India (RBI) has cut the repo rate for the third time by XXXX basis points. With the latest cut, the repo rate now stands at XXXXX. The cut in the repo rate brings cheers for borrowers but bad news for fixed deposit investors. The banks have been cutting the FD interest rate as the RBI started reducing the repo rate at the start of 2025. How FD rate has been impacted since February 2025 The RBI has cut the repo rate by 25 bps each time in February and April 2025. Due to two successive rate cuts, banks have aggressively reduced FD interest rates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ele era lindo, agora é difícil olhar para ele Boite A Scoop Undo According to the SBI Research report, "FD rates have been reduced in the range of 30-70 bps since February 2025." Along with the reduction in fixed deposit interest rates, banks are also reducing the interest rates on savings bank accounts. "Banks have already reduced interest rates on savings accounts to floor rate of 2.70%," said SBI in its report. Live Events How much FD rate cuts investors should expect in future? The RBI has cut the repo rate three times till now. According to the SBI research report, "Transmission to deposit rates is expected to be strong in the coming quarters. 100 bps repo rate cuts are expected in FY26." This is likely to happen if the CPI inflation remains below the medium-term target of 4%, supporting growth in fighting cyclical downturns, and if credit growth remains muted. What should be investment strategy as FD interest rates fall? There are very limited options available to FD investors when the interest rates are falling in the economy. Here are the steps which they should take to minimise the loss and make the maximum advantage of the current situation. Book FDs at current high rates The interest rates on fixed deposits are expected to fall in the upcoming months, however, it may take some time before it actually happens. There are many banks which are still offering FDs at attractive rates. Therefore, it is essential for FD investors to book FDs at current higher rates as soon as possible. Certain banks are still offering interest rates of 8% or higher for longer-term fixed deposits. However, as most of the highest interest rates currently available on FDs are being offered by Small Finance Banks so you should check the safety of your principal amount. If you book your FDs with any bank which is considered risky it will be better to book your FD in such a way that it is covered under Rs 5 lakh deposit insurance cover. Many major banks are currently offering interest rates of 7% or higher for longer-term fixed deposits. Going for medium to long term FD can be beneficial As interest rate cycle has reversed from rising interest rates to falling interest rates, it may take a while for the interest rate cycle to reach its bottom and make a turn around. While short term FDs will see quick reduction in interest rate, it may take a while for interest rate on medium to long term FDs to fall. Therefore, if you do not have any short-term need, a strategy of locking FDs for medium to long term can be beneficial. Count on laddering to save from lowest yield Senior citizens can still count on the laddering strategy to manage their fixed deposits (FDs) in terms of liquidity, returns, and interest rate fluctuations in the future. FD laddering strategy allows senior citizens to break the investible surplus into different tenures. As the FDs are divided into many parts and different FDs mature regularly, it saves the depositors from the eventuality of renewal risk when interest rates are low. Only a part of the FD corpus will get renewed at lower rate while rest of the FDs will still keep enjoying a higher interest rate. With time the interest rate cycle may turn again. As the FD matures, the proceeds can be used to reinvest at the prevailing rates or utilised as needed. Thus, the depositors can expect to keep getting above-average returns from the laddering strategy.