AU Small Finance Bank to open 51 new branches on Aug 15
The expansion includes 30 liability branches and 21 Microfinance & Inclusive Banking (MFIB) branches, strategically located in high-potential regions such as West Bengal, Gujarat, Telangana, Madhya Pradesh, Odisha, Rajasthan, and Tamil Nadu, it said.
These new branches will offer a full suite of financial services, including deposits, payments, collection solutions, trade finance, insurance, investment products, and advanced digital banking, it said.
Additionally, the MFIB branches will provide specialised support for micro-enterprises and underserved segments, it added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
a minute ago
- India.com
India facing tough choices against US tariffs, has limited options; says expert, adds, 'US will be forced to...'
New Delhi: The Global Trade Research Initiative (GTRI), the economic think tank, said on Friday, 15 August, that India is facing tough choices in responding to heavy tariffs from the USA. What did the GTRI say about US tariffs? The GTRI said that whether it is to negotiate with the US regarding tariffs or to retaliate, diversify export markets or give trade concessions like stopping Russian oil imports, each option has its own advantages and disadvantages. The GTRI said that India is celebrating its Independence Day this year under the shadow of a serious trade confrontation with the USA. Why is India in a strategic dilemma? The Trump administration's decision to impose a 50 per cent tariff on most Indian goods, in addition to the existing Most Favored Nation (MFN) duty, has put India in a strategic dilemma. This could reshape its trade, energy and diplomatic position. What are the options for India? GTRI founder Ajay Srivastava said, 'New Delhi has limited options. These include negotiations, retaliation, diversification of markets or stopping the purchase of Russian oil for tariff relief. Each option has its own advantages and disadvantages.' He further said that India will need structural reforms and aggressive trade diplomacy to withstand high tariffs and diversify exports to Europe, ASEAN, Africa, West Asia and South America. How much loss will be compensated? He said that the gains in the first two years will only be able to compensate for $10-15 billion of the $50 billion loss. If US tariffs increase consumer prices and unemployment in the US, domestic political pressure may force the Trump administration to cut tariffs by about 15 per cent for all countries. What can India do to raise awareness about tariffs? 'India's best role here is to quietly highlight the cost of tariffs to the American voters,' Srivastava said. He further said that in an era when economic power is being used as a weapon, survival does not mean avoiding confrontation. He said, 'It is about choosing the right battles, anticipating the next move and playing for long-term victory.'
Time of India
15 minutes ago
- Time of India
Paradip handles record 50MMT of cargo in first 7 months: Chairman
1 2 3 4 Kendrapada: Paradip Port Authority (PPA) has handled 50 million metric tonnes (MMT) of cargo by the end of July in the current fiscal year, the fastest in its history, said chairman P L Haranadh on Friday. The port also handled Exim (export-import) containers for the first time in 2024-25. Services by MSC and RCL, along with Concor's new multimodal logistics park, are positioning Paradip as a key container gateway in eastern India, he said. Addressing the gathering during Independence Day celebrations at Paradip, Haranadh said the port aims to expand its annual handling capacity to 500 MMT by 2047. The 'western dock' project, with a 25 MMT capacity, is ahead of schedule and will enable handling of capesize vessels, reducing logistics costs, he added. "PPA is targeting 100% mechanisation by 2030, supported by initiatives like an AI-based harbour management system, a state-of-the-art command and control centre, and a next-generation vessel traffic management and information system. PPA is working towards becoming a 'smart port' by 2030 and achieving net-zero emissions by 2050," he added. "A green hydrogen/ammonia export terminal, backed by MoUs worth over Rs 50,800 crore, is under development to strengthen Paradip's role in the global green fuel supply chain. PPA has invested in welfare measures, including enhanced insurance schemes, medical benefits, and mandatory safety training for all contractual workers from Jan 2026 to prevent accidents," he said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Indian Express
31 minutes ago
- Indian Express
US team scraps visit, trade talks with India stuck on agri hurdle
The India-US negotiations for a trade deal, which began in February after Prime Minister Narendra Modi visited the United States, have come to a halt, and the US negotiators' scheduled visit to India later this month stands cancelled, a source aware of the development told The Indian Express. The breakdown in trade talks assumes significance as US President Donald Trump has announced 50 per cent tariff on Indian products, the highest on any country globally. While 25 per cent tariff has already come into effect, government officials have said the levy of another 25 per cent – for Russia oil trade — could depend on 'how geopolitical events unfold'. The Indian Express had first reported on August 8 that the negotiations for a trade agreement had hit a pause, and the arrival of the US trade team was uncertain, as no formal communication had been received from their side. The deal has been stuck over India's long-standing stance of protecting farmers in every trade agreement. The US, under Trump, is prioritising market access for its agricultural products. In his Independence Day speech on Friday, Prime Minister Narendra Modi reiterated that India would not compromise on the well-being of its farmers, fisherfolk and cattle keepers, amid the standoff with the US over access for American products in India's agriculture and dairy market. On August 7, too, after Trump announced the additional 25 per cent tariff on Indian goods, Modi had said that he would not compromise 'even if it entailed paying a very heavy personal price'. The geopolitical factor The uncertainty over when the tariffs on India could ease may drag on, as Trump's high-stakes talks with Russian President Vladimir Putin did not result in a Russia-Ukraine ceasefire. However, Trump said he and Putin had made progress during the meeting in Alaska. US Treasury Secretary Scott Bessent has warned that the secondary tariffs on India could increase if 'things don't go well' during the Trump-Putin talks. 'I think everyone has been frustrated with President Putin. We expected that he would come to the table in a more fulsome way. It looks like he may be ready to negotiate. And we put secondary tariffs on the Indians for buying Russian oil. I could see, if things don't go well, then sanctions or secondary tariffs could go up,' Bessent said in an interview with Bloomberg earlier.
