Rupee rises 31 paise to close at 85.31 against US dollar
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Time of India
an hour ago
- Time of India
India's forex reserves up $4.8 billion to $702.78 billion as of June 27
India's foreign exchange reserves saw a rise. The reserves increased by $4.8 billion. This brought the total to $702.78 billion for the week. The week ended on June 27. Foreign currency assets also increased. Gold reserves experienced a decrease. The Reserve Bank of India released the data on Friday. The RBI intervenes to manage rupee volatility. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's forex reserves increased $4.8 billion to $702.78 billion for the week ending June 27, data by the Reserve Bank of India showed on country's foreign exchange reserves stood at $697.93 billion as of June 20, down by $1.02 billion from the previous forex reserves had touched an all-time high of $704.885 billion in end-September the week ending on June 27, foreign currency assets , a major component of the reserves, increased $5.75 billion to $594.82 billion, the data released on Friday in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down by $1.23 billion to stand at $84.5 billion during the week, the RBI said. The special drawing rights were up $158 million to $18.83 billion, the central bank the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
Time of India
3 hours ago
- Time of India
Sahana System emerges as the lowest bidder for Indian Navy contract
Sahana System's subsidiary, Softvan Ltd, has emerged as the lowest bidder for an Indian Navy contract valued at Rs 8.01 crore. The project focuses on providing Non-RF infrastructure for upgrading the Navy's RF measurement system. Successful execution could lead to future opportunities within the defense sector, expanding the company's service portfolio. Tired of too many ads? Remove Ads Ahmedabad-based IT services company Sahana System on Thursday said its subsidiary Softvan Ltd has emerged as the lowest (L1) bidder for a contract floated by the Indian Navy The project involves providing Non-RF infrastructure for upgradation of RF measurement system, the company said in an exchange filing. Non-RF refers to technologies and systems that do not use radio frequencies for communication or other purposes."The bid is valued at Rs 8.01 crore," Sahana System company stated that the successful execution of this contract could open doors for future engagements with the Indian Navy - Defence sector, given the experience criteria and past performance requirements often seen in such project adds to the group's service portfolio, showcasing its capabilities in specialized infrastructure for RF measurement systems, it added.
Time of India
4 hours ago
- Time of India
334,000 Saudis trained in AI under national upskilling drive
More than 300,000 Saudis have been trained in AI concepts since 2024 under a national program/Representative Image A total of 334,000 Saudi citizens have now completed artificial intelligence (AI) training under a national initiative launched by the Saudi Data and Artificial Intelligence Authority (SDAIA), in collaboration with the Ministry of Education and the Ministry of Human Resources and Social Development. The 'One Million Saudis in AI' program, launched in September 2024, aims to equip citizens across all age groups and professional backgrounds with essential AI knowledge and skills. The initiative is part of Saudi Arabia's broader digital transformation strategy to prepare its workforce for the future. Speaking during the Non-Profit Sector Forum in Education and Training 2025, held in Riyadh on July 2, SDAIA President Abdullah Alghamdi highlighted the major milestones achieved so far. He emphasised the significance of inter-agency cooperation in enhancing Saudi Arabia's global position in AI empowerment, particularly in promoting women's participation and raising community awareness. Among the key outcomes of the program is the SAMAI initiative, launched at the Global AI Summit, which provides customised AI learning paths for a diverse audience. SDAIA also introduced the 'Road to ATHKA' initiative, which trained more than 570,000 students on foundational AI concepts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo This was complemented by the 'Future Intelligence Programmers' program, which targeted educators, training over 10,000 teachers in AI instruction. Another major achievement was the National Olympiad for Programming and Artificial Intelligence (ATHKA), which saw the participation of more than 260,000 students from intermediate and secondary schools. Of those, 10,000 advanced to the final stage of the competition. To further strengthen AI integration into education, SDAIA and the Ministry of Education jointly established the Centre for Excellence in Education. The centre is focused on institutionalising AI-based learning, sustaining future-ready academic initiatives, and improving student outcomes through smart technologies. The program continues to serve as a cornerstone of Saudi Arabia's Vision 2030 objectives, aiming to boost digital literacy, foster innovation, and build a tech-enabled knowledge economy.
