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Over 700 scientists, political figures, celebrities, and businesspeople, including Prince Harry, Richard Branson, and Steve Bannon, have called for a “prohibition on the development of AI superintelligence”. The initiative comes amid a raging debate on whether AI superintelligence can pose an existential threat to humanity.&nbsp;Many AI experts have been pointing out that apart from upending the world's economic and social structures, artificial superintelligence – digital beings with vastly superior&nbsp;IQ than the smartest human beings – could lead to the extermination of humans.&nbsp;Experts say that superintelligent beings could prove to be more devastating than nuclear weapons, as they would be able to decide on their own the fate of humanity, whereas nuclear bombs can't go off on their own.<h2>Who signed the open letter against superintelligence</h2>An open letter published&nbsp;by the Future of Life Institute, a US-based NGO that campaigns against the dangers of AI, reads: "The initiative calls for a prohibition on the development of superintelligence until the technology is reliably safe and controllable, and has public buy-in".&nbsp;"Godfather of AI" Geoffrey Hinton, who received the Nobel Prize in Physics, is among the signatories to the letter. Over the past few years, he has emerged as the most prominent and credible voice against artificial intelligence.&nbsp;Computer Science Professor at the University of California in Berkeley, Stuart Russell, and the world's most-cited AI scientist, Yoshua Bengio, of the University of Montreal, have also signed the letter.&nbsp;A raft of other public figures have signed: Virgin Group founder Richard Branson, Apple cofounder Steve Wozniak, US President Donald Trump's former adviser Steve Bannon, and former president Barack Obama's national security adviser, Susan Rice.&nbsp;The Vatican's AI expert, Paolo Benanti, and celebrities such as Prince Harry and his wife, Meghan, have also signed the open letter.&nbsp;OpenAI CEO Sam Altman, whose company created ChatGPT, says that superintelligence can be achieved within the next five years.&nbsp;Future of Life Institute President Max Tegmark told AFP that private firms should not aim for superintelligence without a regulatory framework. He said the race toward smarter-than-human AI that is designed to replace people is wildly out of step with what the public wants, what scientists think is safe, or what religious leaders feel is right.&nbsp;The open letter calls for governments to reach an international agreement by the end of 2026, illustrating the red lines of AI research.

Over 700 scientists, political figures, celebrities, and businesspeople, including Prince Harry, Richard Branson, and Steve Bannon, have called for a "prohibition on the development of AI superintelligence", raising security concerns. 

Over 700 scientists, political figures, celebrities, and businesspeople, including Prince Harry, Richard Branson, and Steve Bannon, have called for a “prohibition on the development of AI superintelligence”. The initiative comes amid a raging debate on whether AI superintelligence can pose an existential threat to humanity. Many AI experts have been pointing out that apart from upending the world's economic and social structures, artificial superintelligence – digital beings with vastly superior IQ than the smartest human beings – could lead to the extermination of humans. Experts say that superintelligent beings could prove to be more devastating than nuclear weapons, as they would be able to decide on their own the fate of humanity, whereas nuclear bombs can't go off on their own. Who signed the open letter against superintelligence An open letter published by the Future of Life Institute, a US-based NGO that campaigns against the dangers of AI, reads: "The initiative calls for a prohibition on the development of superintelligence until the technology is reliably safe and controllable, and has public buy-in". "Godfather of AI" Geoffrey Hinton, who received the Nobel Prize in Physics, is among the signatories to the letter. Over the past few years, he has emerged as the most prominent and credible voice against artificial intelligence. Computer Science Professor at the University of California in Berkeley, Stuart Russell, and the world's most-cited AI scientist, Yoshua Bengio, of the University of Montreal, have also signed the letter. A raft of other public figures have signed: Virgin Group founder Richard Branson, Apple cofounder Steve Wozniak, US President Donald Trump's former adviser Steve Bannon, and former president Barack Obama's national security adviser, Susan Rice. The Vatican's AI expert, Paolo Benanti, and celebrities such as Prince Harry and his wife, Meghan, have also signed the open letter. OpenAI CEO Sam Altman, whose company created ChatGPT, says that superintelligence can be achieved within the next five years. Future of Life Institute President Max Tegmark told AFP that private firms should not aim for superintelligence without a regulatory framework. He said the race toward smarter-than-human AI that is designed to replace people is wildly out of step with what the public wants, what scientists think is safe, or what religious leaders feel is right. The open letter calls for governments to reach an international agreement by the end of 2026, illustrating the red lines of AI research.

Open letter against AI superintelligence: "Godfather of AI" Geoffrey Hinton, who received the Nobel Prize in Physics, is among the signatories to the letter.&nbsp;

Celebs, scientists, including Godfather of AI and Prince Harry, call for 'superintelligence' ban

Satya Nadella, the India-born CEO of software giant Microsoft, has received a salary increase of 22 per cent for the financial year 2025. The documents filed by Microsoft revealed that the tech honcho earned a whopping yearly&nbsp;salary of $96.5 million.&nbsp;Satya Nadella had earned $79.1 million the previous year. Before that, he earned $48.5 million. The Microsoft CEO mostly draws his compensation from the stock of the company. He also revealed a cash bonus&nbsp;of $9.5 million.&nbsp;The company's Chief Financial Officer, Amy Hood, earned $29.5 million, whereas its Commercial Officer, Judson Althoff, received an annual compensation of $28.2 million.&nbsp;Microsoft's stock rose nearly 23 per cent in 2025 so far. Over the past three years, the company's market value doubled.&nbsp;According to Forbes, Satya Nadella's net worth is $1.1 billion.<h2>All you need to know about Satya Nadella</h2>Satya Nadella joined Microsoft in 1992. He rose through the ranks and became the company's CEO in the year 2014. He took over as the company's chief executive from Steve Ballmer, who retired in 2014.&nbsp;Under him as the CEO, Microsoft Azure&nbsp;became one of the leading cloud computing platforms in the world. He also oversaw the acquisitions of LinkedIn for $26 billion in 2016 and Activision Blizzard for $69 billion in 2023.&nbsp;Since 2019, Microsoft has invested $10 billion in OpenAI, one of the largest players in the artificial intelligence revolution. He has also led from the front in the development and rollout&nbsp;of the company's AI-powered tools called CoPilot.&nbsp;He owns 0.01 per cent&nbsp;of the company's stock.&nbsp;He came to the US as a student. He completed his master's degree in computer science from the University of Wisconsin-Milwaukee. He also completed his MBA from the University of Chicago.

Satya Nadella, the India-born CEO of software giant Microsoft, has received a salary increase of 22 per cent for the financial year 2025. The documents filed by Microsoft revealed that the tech honcho earned a whopping yearly salary of $96.5 million.

Satya Nadella, the India-born CEO of software giant Microsoft, has received a salary increase of 22 per cent for the financial year 2025. The documents filed by Microsoft revealed that the tech honcho earned a whopping yearly salary of $96.5 million. Satya Nadella had earned $79.1 million the previous year. Before that, he earned $48.5 million. The Microsoft CEO mostly draws his compensation from the stock of the company. He also revealed a cash bonus of $9.5 million. The company's Chief Financial Officer, Amy Hood, earned $29.5 million, whereas its Commercial Officer, Judson Althoff, received an annual compensation of $28.2 million. Microsoft's stock rose nearly 23 per cent in 2025 so far. Over the past three years, the company's market value doubled. According to Forbes, Satya Nadella's net worth is $1.1 billion. All you need to know about Satya Nadella Satya Nadella joined Microsoft in 1992. He rose through the ranks and became the company's CEO in the year 2014. He took over as the company's chief executive from Steve Ballmer, who retired in 2014. Under him as the CEO, Microsoft Azure became one of the leading cloud computing platforms in the world. He also oversaw the acquisitions of LinkedIn for $26 billion in 2016 and Activision Blizzard for $69 billion in 2023. Since 2019, Microsoft has invested $10 billion in OpenAI, one of the largest players in the artificial intelligence revolution. He has also led from the front in the development and rollout of the company's AI-powered tools called CoPilot. He owns 0.01 per cent of the company's stock. He came to the US as a student. He completed his master's degree in computer science from the University of Wisconsin-Milwaukee. He also completed his MBA from the University of Chicago.

What's Satya Nadella's compensation package? Satya Nadella joined Microsoft in 1992. He rose through the ranks and became the company's CEO in the year 2014.&nbsp;

Satya Nadella, Microsoft CEO, earned $96.5 million. What's his net worth?

Leaked documents have revealed that Amazon is planning to replace 600,000 US employees with robots by 2027. The company's AI and automation plans aim to automate 75 percent of operations and save&nbsp;$12.6 billion in labour costs. If these plans are implemented, the employment of 160,000 warehouse workers could be affected.&nbsp;Amazon has been attempting to cut costs and increase efficiency by replacing manual labour with AI-driven machines. The e-commerce giant aims to process orders&nbsp;faster and reduce operational errors.<h2>What we know about Amazon's AI plan</h2>The company's robotic systems, like Proteus and Sequoia, are already capable of navigating their way across crowded warehouses without external help, displaying their potential to replace manual labor. Armed with sensors, cameras, and AI algorithms, these machines can move, lift, and sort packages without human supervision, reported ET.&nbsp;The newspaper wrote in a report citing insiders that the company is also exploring implementing AI-driven logistics and delivery operations. The company hopes to streamline its entire supply chain using these technologies. However, over the&nbsp; next few years, thousands of jobs could be lost because of the company's AI and automation plans.&nbsp;If Amazon adopts robotics, its rivals, like Walmart and Target, will also have to employ the same tactics to remain competitive. It could start a trend, forcing workers to either adapt or retrain.&nbsp;The company, however, feels that these new technologies will create new opportunities in robotics maintenance, programming, and AI management.&nbsp;According to the documents, by 2027, the company plans to automate most of the US fulfillment centers. The firm will also use robots to handle packaging and sorting. Amazon operates 750,000 robots across the world and plans to increase the number sharply.&nbsp;The leaked data claims that around 600,000 US jobs could be replaced. The roles that could be eliminated include warehouse staff, station workers, and administrative staff. Positions such as robotics maintenance, programming, and systems management may see growth.&nbsp;The company may also pause the planned hiring of 160,000 new workers who would have been needed by 2027. In response, the company said these plans are just projections, not policy.

Leaked documents have revealed that Amazon is planning to replace 600,000 US employees with robots by 2027. 

Leaked documents have revealed that Amazon is planning to replace 600,000 US employees with robots by 2027. The company's AI and automation plans aim to automate 75 percent of operations and save $12.6 billion in labour costs. If these plans are implemented, the employment of 160,000 warehouse workers could be affected. Amazon has been attempting to cut costs and increase efficiency by replacing manual labour with AI-driven machines. The e-commerce giant aims to process orders faster and reduce operational errors. What we know about Amazon's AI plan The company's robotic systems, like Proteus and Sequoia, are already capable of navigating their way across crowded warehouses without external help, displaying their potential to replace manual labor. Armed with sensors, cameras, and AI algorithms, these machines can move, lift, and sort packages without human supervision, reported ET. The newspaper wrote in a report citing insiders that the company is also exploring implementing AI-driven logistics and delivery operations. The company hopes to streamline its entire supply chain using these technologies. However, over the next few years, thousands of jobs could be lost because of the company's AI and automation plans. If Amazon adopts robotics, its rivals, like Walmart and Target, will also have to employ the same tactics to remain competitive. It could start a trend, forcing workers to either adapt or retrain. The company, however, feels that these new technologies will create new opportunities in robotics maintenance, programming, and AI management. According to the documents, by 2027, the company plans to automate most of the US fulfillment centers. The firm will also use robots to handle packaging and sorting. Amazon operates 750,000 robots across the world and plans to increase the number sharply. The leaked data claims that around 600,000 US jobs could be replaced. The roles that could be eliminated include warehouse staff, station workers, and administrative staff. Positions such as robotics maintenance, programming, and systems management may see growth. The company may also pause the planned hiring of 160,000 new workers who would have been needed by 2027. In response, the company said these plans are just projections, not policy.

Amazon's robot and artificial intelligence plans: Amazon has been attempting to cut costs and increase efficiency by replacing manual labour with AI-driven machines.&nbsp;

Amazon planning to replace 600,000 employees with robots? Report makes massive claim

Experts have predicted that the new Samvat year 2082 will likely&nbsp;witness strong and stable performance in the Indian stock markets, after a lackluster Samvat 2081. They have projected double-digit growth driven by robust domestic fundamentals, easing inflation, policy reforms, and renewed foreign investor interest.&nbsp;Samvat 2081 was fraught with high volatility and single-digit returns. The below-par performance&nbsp;can be attributed to trade tensions&nbsp;exacerbated&nbsp;by Donald Trump's tariffs and geopolitical uncertainties.&nbsp;Experts, however, highlighted that the markets are set to emerge out of the consolidation phase and can witness sustained upside.<h2>What experts said</h2>Banking and market expert Ajay Bagga said that the new Samvat&nbsp;year&nbsp;will bring brighter market performance. He said Nifty will reach 30000 by next Diwali, and BSE Sensex will reach 95000.&nbsp;"The new Samvat year is poised for a stronger, more stable performance than the last, with a gradual but sustained upside, driven primarily by domestic fundamentals. We project Nifty at 30,000 by the next Diwali. The BSE Sensex is expected to target levels around 95,000," he said.&nbsp;He said that factors like FII inflows, an expected India-US trade deal may provide a strong base for market stability.&nbsp;He said stocks linked to banking and financials, automobiles, capital goods, infrastructure, and FMCG may see upside.&nbsp;Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company, said India's high valuations, single-digit earnings growth over the past six quarters, and persistent selling by promoters could weigh on sentiment.&nbsp;"Last Samvat wasn't exactly a blockbuster for the Nifty; it lagged most global markets. Fundamentals change over time. In the near to medium term, there is a tug of war between FPIs and Promoters on one side and DIIs and Retail investors on the other side," he said.&nbsp;He also warned that markets could see a&nbsp;correction. "If this money is spent on swadeshi goods and services, the earnings growth will be higher than market expectations," Shah added.&nbsp;Amisha Vora, Chairperson and Managing Director of PL Capital, said the markets can witness an earnings-led recovery. He added that the recovery will be backed by the GST 2.0 rollout, income tax relief, and accommodative monetary policy.

Experts have predicted that the new Samvat year 2082 will likely witness strong and stable performance in the Indian stock markets, after a lackluster Samvat 2081.

Experts have predicted that the new Samvat year 2082 will likely witness strong and stable performance in the Indian stock markets, after a lackluster Samvat 2081. They have projected double-digit growth driven by robust domestic fundamentals, easing inflation, policy reforms, and renewed foreign investor interest. Samvat 2081 was fraught with high volatility and single-digit returns. The below-par performance can be attributed to trade tensions exacerbated by Donald Trump's tariffs and geopolitical uncertainties. Experts, however, highlighted that the markets are set to emerge out of the consolidation phase and can witness sustained upside. What experts said Banking and market expert Ajay Bagga said that the new Samvat year will bring brighter market performance. He said Nifty will reach 30000 by next Diwali, and BSE Sensex will reach 95000. "The new Samvat year is poised for a stronger, more stable performance than the last, with a gradual but sustained upside, driven primarily by domestic fundamentals. We project Nifty at 30,000 by the next Diwali. The BSE Sensex is expected to target levels around 95,000," he said. He said that factors like FII inflows, an expected India-US trade deal may provide a strong base for market stability. He said stocks linked to banking and financials, automobiles, capital goods, infrastructure, and FMCG may see upside. Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company, said India's high valuations, single-digit earnings growth over the past six quarters, and persistent selling by promoters could weigh on sentiment. "Last Samvat wasn't exactly a blockbuster for the Nifty; it lagged most global markets. Fundamentals change over time. In the near to medium term, there is a tug of war between FPIs and Promoters on one side and DIIs and Retail investors on the other side," he said. He also warned that markets could see a correction. "If this money is spent on swadeshi goods and services, the earnings growth will be higher than market expectations," Shah added. Amisha Vora, Chairperson and Managing Director of PL Capital, said the markets can witness an earnings-led recovery. He added that the recovery will be backed by the GST 2.0 rollout, income tax relief, and accommodative monetary policy.

Indian stock market news: Experts, however, highlighted that the markets are set to emerge out of the consolidation phase and can witness sustained upside.

Samvat 2082: Will Nifty cross 30000? Here's what experts say

Confederation of All India Traders (CAIT) has said that sales of Rs 5.40 lakh crore in goods and Rs 65,000 crore in services have been registered&nbsp;during the festive season this year. This is the country's highest-ever Diwali season turnover.&nbsp;&nbsp;According to the industry body, this year's sales witnessed a massive 25 per cent increase against 2024's figure of Rs 4.25 lakh crore.&nbsp;CAIT Research &amp; Trade Development Society carried out a pan-India survey across 60 major distribution centers representing Tier 1, Tier 2, and Tier 3 cities between Navratri (September 29) and Diwali (October 20). The research studied points like sales performance, consumer sentiment, and the economic influence of GST rationalization.&nbsp;An uptick in consumer demand was expected as the government eliminated the 12 per cent and 28 per cent Goods and Services Tax (GST) and placed most of the items in the categories into the 5 per cent and 18 per cent slabs. The move was aimed at boosting consumer&nbsp;demand by leaving more money in the hands of the masses for discretionary spending.<h2>What CAIT said in its report</h2>CAIT, in its report, credited two factors for the bumper sales – GST rationalization and Prime Minister Narendra Modi's Vocal for Local campaign.&nbsp;The survey described PM Modi as a "brand ambassador" for GST relief and Swadeshi products, noting that his appeal for buying Indian goods resonated widely among both traders and consumers.&nbsp;The report found that nearly 87 per cent of those surveyed said they preferred Indian-made goods over imported ones.&nbsp;The sales of Indian manufacturers rose 25 per cent compared to last year. This signals that consumers are moving towards the government's goal of a self-reliant India.&nbsp;Gold and jewelry contributed around 10 per cent to overall sales, followed by grocery and FMCG (12 per cent), electronics and electricals (8 per cent), and consumer durables (7 per cent).

Confederation of All India Traders (CAIT) has said that sales of Rs 5.40 lakh crore in goods and Rs 65,000 crore in services have been registered during the festive season this year.

Confederation of All India Traders (CAIT) has said that sales of Rs 5.40 lakh crore in goods and Rs 65,000 crore in services have been registered during the festive season this year. This is the country's highest-ever Diwali season turnover. According to the industry body, this year's sales witnessed a massive 25 per cent increase against 2024's figure of Rs 4.25 lakh crore. CAIT Research & Trade Development Society carried out a pan-India survey across 60 major distribution centers representing Tier 1, Tier 2, and Tier 3 cities between Navratri (September 29) and Diwali (October 20). The research studied points like sales performance, consumer sentiment, and the economic influence of GST rationalization. An uptick in consumer demand was expected as the government eliminated the 12 per cent and 28 per cent Goods and Services Tax (GST) and placed most of the items in the categories into the 5 per cent and 18 per cent slabs. The move was aimed at boosting consumer demand by leaving more money in the hands of the masses for discretionary spending. What CAIT said in its report CAIT, in its report, credited two factors for the bumper sales – GST rationalization and Prime Minister Narendra Modi's Vocal for Local campaign. The survey described PM Modi as a "brand ambassador" for GST relief and Swadeshi products, noting that his appeal for buying Indian goods resonated widely among both traders and consumers. The report found that nearly 87 per cent of those surveyed said they preferred Indian-made goods over imported ones. The sales of Indian manufacturers rose 25 per cent compared to last year. This signals that consumers are moving towards the government's goal of a self-reliant India. Gold and jewelry contributed around 10 per cent to overall sales, followed by grocery and FMCG (12 per cent), electronics and electricals (8 per cent), and consumer durables (7 per cent).

Diwali 2025: CAIT Research &amp; Trade Development Society carried out a pan-India survey across 60 major distribution centers representing Tier 1, Tier 2, and Tier 3 cities between Navratri (September 29) and Diwali (October 20).&nbsp;

Diwali 2025: India logs 25 per cent increase in sales in festive season | Check details

The Indian market indices, Sensex and Nifty, remained largely flat during the Special Muhurat trading. NSE's Nifty ended the session at 25,868.60, up 25.45 points or 0.10 per cent. BSE's Sensex was up 62.97 points, ending at 84,426.34.<h2>Which shares gained during the Muhurat Session?</h2>In Nifty, stocks like Cipla, Bajaj Finserv, Axis Bank, Infosys, and M&amp;M rallied. Stocks like Kotak Mahindra Bank, ICICI Bank, Bharti Airtel, Max Healthcare, and Asian Paints slipped. Barring Nifty PSU Banks and Realty, all sectoral indices ended in green.&nbsp;The&nbsp;Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were opened for trading from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082.<h2>What experts say?</h2>Banking and market expert Ajay Bagga told ANI that since last Diwali (Samvat 2081), the market indices had been affected by turbulence due to external headwinds such as geopolitical tensions, tariff uncertainty, and aggressive Foreign Institutional Investor (FII) outflows. He, however, said that Samvat 2082 will likely hold more promise for the markets.&nbsp;He said that the new Samvat&nbsp;year will see a more stable performance, with a gradual but sustained upside. He also predicted that the Nifty would breach the 30,000 mark by the next Diwali. He also said that the BSE Sensex will likely hit the 95,000 mark.&nbsp;The Muhurat trading session is organised with the belief that investments made during this auspicious time will usher in good returns.&nbsp;Unlike this year, the indices soured during the stipulated one-hour period.&nbsp;However, this year, Nifty hovered around the 25000 mark, as it was impacted by external factors such as geopolitical tensions, tariff wars, and regime change.&nbsp;The next year, however, the&nbsp;industry is expecting double-digit corporate earnings, which may also aid the market indices.&nbsp;"We expect double-digit earnings growth to resume from FY27E onwards, which should ensure healthy equity returns going forward. Our one-year forward Nifty target is placed at 27,000 levels (22x PE on FY27E)," said a market note by ICICI Direct.

Special Muhurat Session 2025: TheBombay Stock Exchange (BSE) and National Stock Exchange (NSE) were open for trading from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082.

The Indian market indices, Sensex and Nifty, remained largely flat during the Special Muhurat trading. NSE's Nifty ended the session at 25,868.60, up 25.45 points or 0.10 per cent. BSE's Sensex was up 62.97 points, ending at 84,426.34. Which shares gained during the Muhurat Session? In Nifty, stocks like Cipla, Bajaj Finserv, Axis Bank, Infosys, and M&M rallied. Stocks like Kotak Mahindra Bank, ICICI Bank, Bharti Airtel, Max Healthcare, and Asian Paints slipped. Barring Nifty PSU Banks and Realty, all sectoral indices ended in green. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were opened for trading from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082. What experts say? Banking and market expert Ajay Bagga told ANI that since last Diwali (Samvat 2081), the market indices had been affected by turbulence due to external headwinds such as geopolitical tensions, tariff uncertainty, and aggressive Foreign Institutional Investor (FII) outflows. He, however, said that Samvat 2082 will likely hold more promise for the markets. He said that the new Samvat year will see a more stable performance, with a gradual but sustained upside. He also predicted that the Nifty would breach the 30,000 mark by the next Diwali. He also said that the BSE Sensex will likely hit the 95,000 mark. The Muhurat trading session is organised with the belief that investments made during this auspicious time will usher in good returns. Unlike this year, the indices soured during the stipulated one-hour period. However, this year, Nifty hovered around the 25000 mark, as it was impacted by external factors such as geopolitical tensions, tariff wars, and regime change. The next year, however, the industry is expecting double-digit corporate earnings, which may also aid the market indices. "We expect double-digit earnings growth to resume from FY27E onwards, which should ensure healthy equity returns going forward. Our one-year forward Nifty target is placed at 27,000 levels (22x PE on FY27E)," said a market note by ICICI Direct.

Special Muhurat Session 2025: The&nbsp;Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were open for trading from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082.

How did Sensex, Nifty perform during the Special Muhurat trading session?

The Lokpal office has floated a public tender for acquiring&nbsp;several high-end BMW 330 Li cars, attracting allegations of extravagance in public office, as the vehicle is priced at over Rs 60 lakh. The tender process was initiated on October 16, and the evaluation proceedings will begin on November 7.&nbsp;The Lokpal office has invited tenders for seven cars, whose expected combined price is Rs 5 crore. After the vehicles are delivered, BMW will train drivers and staff, reported India Today.<h2>What the Lokpal notification said</h2>The car will serve each member of the corruption watchdog, including the former Supreme Court justice, Ajay Manikrao Khanwilkar. The ex-judge chairs the body.Under the training, the drivers and staff will teach them about the cars' systems and operations.&nbsp;"The Lokpal of India invites open tenders from reputed Agencies for the supply of seven BMW 3 Series Li Cars to the Lokpal of India," the notification said.&nbsp;Activist-lawyer Prashant Bhushan slammed the move. He accused the government of having ground to dust the Lokpal body. He also accused the members of the body of being "servile" and claimed that they are not bothered by graft and are happy with their luxuries.&nbsp;The Congress's youth wing also questioned the decision.&nbsp;"The institution of Lokpal, once a symbol of accountability, lies in ruins... Why is the government buying luxury foreign cars for a body that is missing key appointments?" it wrote on X.

The Lokpal office has floated a public tender for acquiring several high-end BMW 330 Li cars, attracting allegations of extravagance in public office, as the vehicle is priced at over Rs 60 lakh. 

The Lokpal office has floated a public tender for acquiring several high-end BMW 330 Li cars, attracting allegations of extravagance in public office, as the vehicle is priced at over Rs 60 lakh. The tender process was initiated on October 16, and the evaluation proceedings will begin on November 7. The Lokpal office has invited tenders for seven cars, whose expected combined price is Rs 5 crore. After the vehicles are delivered, BMW will train drivers and staff, reported India Today. What the Lokpal notification said The car will serve each member of the corruption watchdog, including the former Supreme Court justice, Ajay Manikrao Khanwilkar. The ex-judge chairs the body. Under the training, the drivers and staff will teach them about the cars' systems and operations. "The Lokpal of India invites open tenders from reputed Agencies for the supply of seven BMW 3 Series Li Cars to the Lokpal of India," the notification said. Activist-lawyer Prashant Bhushan slammed the move. He accused the government of having ground to dust the Lokpal body. He also accused the members of the body of being "servile" and claimed that they are not bothered by graft and are happy with their luxuries. The Congress's youth wing also questioned the decision. "The institution of Lokpal, once a symbol of accountability, lies in ruins... Why is the government buying luxury foreign cars for a body that is missing key appointments?" it wrote on X.

Lokpal office's BMW tender: The Lokpal office has invited tenders for seven cars, whose expected combined price is Rs 5 crore.&nbsp;

Lokpal office's '7 BMWs' tender triggers controversy: 'Servile members...'

As China restricted the export of rare earth minerals, India, with a sizeable amount of these strategically important materials, can emerge as a viable alternative to Beijing, said a research report. These rare elements are vital for the production&nbsp;and design of electric vehicles, wind turbines, smartphones, and defence systems. Due to their indispensability&nbsp;for modern equipment, experts dub them the "new oil" of the 21st century.&nbsp;"Invisible to most, rare earths are quietly powering the shift toward cleaner energy, stronger economies, and a smarter, more sustainable world," noted the report by Kotak Mahindra.&nbsp;India accounts for 6 per cent reserves of rare earth. With China -- the largest processor of rare earth elements in the world -- limiting the supply of the materials, India has emerged as a credible alternative source. New Delhi, however, currently contributes less than one percent of the world's REE production.&nbsp;However, India's vast land mass and coastal states offer a promise for the future, the report added.&nbsp;Under the National Critical Mineral Mission (2025), India has prioritized the exploration, mining, and processing of these critical resources. The recent removal of IREL (India) Limited from the US export control list marks a pivotal step, paving the way for enhanced global collaboration.&nbsp;It said that IREL's Visakhapatnam facility will produce samarium-cobalt magnets domestically. It has also launched the KABIL (Khanij Bidesh India Limited) initiative and participated in the US-led Mineral Security Partnership (MSP).&nbsp;China accounts for 70 per cent of the mining of rare earth materials and 90 per cent of the processing. The report predicts that China's shares will fall to 51 per cent and 78 per cent by 2030, which would create a requirement for the creation of a more stable supply line.<h2>What's India doing?</h2>New Delhi has reformed the Mines and Minerals (Development and Regulation) Act (MMDR). It has also introduced Production Linked Incentive (PLI) schemes, and is encouraging private investment, R&amp;D, and sustainable processing.&nbsp;India's progress in the field will secure domestic supply and make it a global leader in the sector.&nbsp;"Demand for rare earth elements (REEs) will surge as the world shifts to clean energy and digital technologies, with usage projected to rise 300-700 per cent by 2040," noted the report.

As China restricted the export of rare earth minerals, India, with a sizeable amount of these strategically important materials, can emerge as a viable alternative to Beijing, said a research report. 

As China restricted the export of rare earth minerals, India, with a sizeable amount of these strategically important materials, can emerge as a viable alternative to Beijing, said a research report. These rare elements are vital for the production and design of electric vehicles, wind turbines, smartphones, and defence systems. Due to their indispensability for modern equipment, experts dub them the "new oil" of the 21st century. "Invisible to most, rare earths are quietly powering the shift toward cleaner energy, stronger economies, and a smarter, more sustainable world," noted the report by Kotak Mahindra. India accounts for 6 per cent reserves of rare earth. With China -- the largest processor of rare earth elements in the world -- limiting the supply of the materials, India has emerged as a credible alternative source. New Delhi, however, currently contributes less than one percent of the world's REE production. However, India's vast land mass and coastal states offer a promise for the future, the report added. Under the National Critical Mineral Mission (2025), India has prioritized the exploration, mining, and processing of these critical resources. The recent removal of IREL (India) Limited from the US export control list marks a pivotal step, paving the way for enhanced global collaboration. It said that IREL's Visakhapatnam facility will produce samarium-cobalt magnets domestically. It has also launched the KABIL (Khanij Bidesh India Limited) initiative and participated in the US-led Mineral Security Partnership (MSP). China accounts for 70 per cent of the mining of rare earth materials and 90 per cent of the processing. The report predicts that China's shares will fall to 51 per cent and 78 per cent by 2030, which would create a requirement for the creation of a more stable supply line. What's India doing? New Delhi has reformed the Mines and Minerals (Development and Regulation) Act (MMDR). It has also introduced Production Linked Incentive (PLI) schemes, and is encouraging private investment, R&D, and sustainable processing. India's progress in the field will secure domestic supply and make it a global leader in the sector. "Demand for rare earth elements (REEs) will surge as the world shifts to clean energy and digital technologies, with usage projected to rise 300-700 per cent by 2040," noted the report.

China's rare earth export control: With China -- the largest processor of rare earth elements in the world -- limiting the supply of the materials, India has emerged as a credible alternative source.&nbsp;

Can China's rare earth export control boost India's chances as alternative?

India's passenger-vehicle market is in the middle of a clear structural shift as buyers are moving away from entry-level hatchbacks and gravitating toward SUVs, according to the SOIC Research report.&nbsp;The study finds that entry-level hatchbacks have lost market share for five consecutive years, while both entry-level and premium SUVs have enjoyed sharp gains. Between fiscal years 2018–19 and 2023–24, the report says, hatchbacks have steadily ceded ground as rising incomes and changing consumer aspirations push buyers toward larger, better-equipped vehicles.&nbsp;A snapshot of the most recent figures is striking: SUV sales rose 23 per cent year-on-year in 2024, while hatchbacks fell 17 per cent, the report's chart shows. SUVs now account for around 52 percent of passenger-vehicle sales, compared with 26 percent for hatchbacks -- a low not seen in two decades.<h2>What Indian experts say about the market</h2>Automakers are responding. Dr. Anish Shah, MD &amp; CEO of Mahindra Group, said, "Mahindra &amp; Mahindra has decided not to make sedans, hatchbacks, and smaller SUVs". He underscored how manufacturers are reshaping product portfolios to match demand. Tata Motors MD Shailesh Chandra echoed the industry view, noting the SUV segment's growth is being driven by both upgraders and first-time buyers.&nbsp;Industry veterans point to two broad forces behind the trend. First, affordability headwinds in the entry-car segment have made the smallest models less attractive economically. Second, a premiumization wave is reshaping buyer priorities -- design, interior comfort, connectivity, and brand perception now play a larger role than compact footprint alone.&nbsp;The ripple effects extend beyond vehicle bodies. The report highlights how premiumisation is filtering through the auto value chain -- from higher-spec interiors to upgraded ancillaries and accessories -- providing new revenue opportunities for suppliers and aftermarket players alike.&nbsp;Still, some analysts caution that small cars are not dead: they may see cyclical revivals when macro conditions change. But R.C. Bhargava, Chairman of Maruti Suzuki, told the report that "India is graduating from small cars to upper-segment cars," and that the long-term trajectory looks firmly weighted toward SUVs.

India's passenger-vehicle market is in the middle of a clear structural shift as buyers are moving away from entry-level hatchbacks and gravitating toward SUVs, according to the SOIC Research report.

India's passenger-vehicle market is in the middle of a clear structural shift as buyers are moving away from entry-level hatchbacks and gravitating toward SUVs, according to the SOIC Research report. The study finds that entry-level hatchbacks have lost market share for five consecutive years, while both entry-level and premium SUVs have enjoyed sharp gains. Between fiscal years 2018–19 and 2023–24, the report says, hatchbacks have steadily ceded ground as rising incomes and changing consumer aspirations push buyers toward larger, better-equipped vehicles. A snapshot of the most recent figures is striking: SUV sales rose 23 per cent year-on-year in 2024, while hatchbacks fell 17 per cent, the report's chart shows. SUVs now account for around 52 percent of passenger-vehicle sales, compared with 26 percent for hatchbacks -- a low not seen in two decades. What Indian experts say about the market Automakers are responding. Dr. Anish Shah, MD & CEO of Mahindra Group, said, "Mahindra & Mahindra has decided not to make sedans, hatchbacks, and smaller SUVs". He underscored how manufacturers are reshaping product portfolios to match demand. Tata Motors MD Shailesh Chandra echoed the industry view, noting the SUV segment's growth is being driven by both upgraders and first-time buyers. Industry veterans point to two broad forces behind the trend. First, affordability headwinds in the entry-car segment have made the smallest models less attractive economically. Second, a premiumization wave is reshaping buyer priorities -- design, interior comfort, connectivity, and brand perception now play a larger role than compact footprint alone. The ripple effects extend beyond vehicle bodies. The report highlights how premiumisation is filtering through the auto value chain -- from higher-spec interiors to upgraded ancillaries and accessories -- providing new revenue opportunities for suppliers and aftermarket players alike. Still, some analysts caution that small cars are not dead: they may see cyclical revivals when macro conditions change. But R.C. Bhargava, Chairman of Maruti Suzuki, told the report that "India is graduating from small cars to upper-segment cars," and that the long-term trajectory looks firmly weighted toward SUVs.

Indian car market: SUV sales rose 23 per cent year-on-year in 2024, while hatchbacks fell 17 per cent. SUVs now account for around 52 percent of passenger-vehicle sales.

SUVs dominate the Indian market, entry-level hatchbacks lose share: Report

Chandigarh-based businessman MK Bhatia celebrated Diwali this year by gifting 51 cars to his team members, marking the third consecutive year of his grand gesture. Known for his generosity, Bhatia once again went viral on social media, drawing widespread attention and praise.&nbsp;As reported by PTI, Bhatia described this year's act as completing a "half-century" of car gifting. Following the handover, his team organised a 'car gift rally' from the showroom to Mits House, making jaws drop across the city.&nbsp;Asked about his motivation behind such an extravagant tradition, Bhatia offered a heartfelt explanation.&nbsp;“My associates are the backbone of my pharmaceutical companies. Their hard work, honesty, and dedication are the foundation of our success. Recognising their efforts and motivating them is my only goal — to keep them inspired and driven toward greater heights,” he said.&nbsp;He further emphasised that his gesture is not about showmanship, but about strengthening team spirit and fostering a family-like bond within the organisation.&nbsp;“When the team is happy,” he added, “the company naturally grows.”&nbsp;Bhatia's reels and photos from the event have been widely shared on social media, with netizens applauding his generosity and calling his initiative a “benchmark of motivation in modern corporate culture.”&nbsp;Last year, he gave 15 cars and a salary bonus.&nbsp;"I want to express my heartfelt gratitude to all my connections and thank you for your warm wishes and support. Thanks to the amazing PR Team, Media Team, Red FM, and all the Instagram and Facebook pages. Last year, we were overwhelmed by the love we received when we gifted cars as Diwali gifts. This year, continued the tradition! Along with 15 cars, we’re also surprising our employees with a one-month salary bonus. Thank you for being part of our journey and celebrating these milestones with us! Here’s to more success and positivity ahead," he had said.

Chandigarh-based businessman MK Bhatia celebrated Diwali this year by gifting 51 cars to his team members, marking the third consecutive year of his grand gesture.

Chandigarh-based businessman MK Bhatia celebrated Diwali this year by gifting 51 cars to his team members, marking the third consecutive year of his grand gesture. Known for his generosity, Bhatia once again went viral on social media, drawing widespread attention and praise. As reported by PTI, Bhatia described this year's act as completing a "half-century" of car gifting. Following the handover, his team organised a 'car gift rally' from the showroom to Mits House, making jaws drop across the city. Asked about his motivation behind such an extravagant tradition, Bhatia offered a heartfelt explanation. “My associates are the backbone of my pharmaceutical companies. Their hard work, honesty, and dedication are the foundation of our success. Recognising their efforts and motivating them is my only goal — to keep them inspired and driven toward greater heights,” he said. He further emphasised that his gesture is not about showmanship, but about strengthening team spirit and fostering a family-like bond within the organisation. “When the team is happy,” he added, “the company naturally grows.” Bhatia's reels and photos from the event have been widely shared on social media, with netizens applauding his generosity and calling his initiative a “benchmark of motivation in modern corporate culture.” Last year, he gave 15 cars and a salary bonus. "I want to express my heartfelt gratitude to all my connections and thank you for your warm wishes and support. Thanks to the amazing PR Team, Media Team, Red FM, and all the Instagram and Facebook pages. Last year, we were overwhelmed by the love we received when we gifted cars as Diwali gifts. This year, continued the tradition! Along with 15 cars, we’re also surprising our employees with a one-month salary bonus. Thank you for being part of our journey and celebrating these milestones with us! Here’s to more success and positivity ahead," he had said.

Diwali 2025: Bhatia described this year's act as completing a "half-century" of car gifting.&nbsp;

Chandigarh businessman gifts 51 cars to colleagues on Diwali

The World Gold Council’s India Gold Market Update has said that the prices of gold hit their all-time high 48 times this year. The precious metal also crossed $4,000 per ounce mark globally.<h2>Why is gold rallying?</h2>Gold's domestic prices increased 66 per cent this year. The international gains were lower at 58 per cent. The prices saw an unprecedented&nbsp;surge because of geopolitical and global economic uncertainties&nbsp;that boosted&nbsp;the safe-haven demand.&nbsp;Donald Trump's tariff war and China's retaliation against the US have also pushed investors towards parking their money in gold. Investors are also anticipating US Federal Rate revisions this year.&nbsp;In India, the depreciation of the rupee against the US dollar led to more gains. The metal is trading above Rs 1,20,000 per 10 grams.&nbsp;Despite the high prices of gold, Indians bought precious metal worth over Rs 85000 crore during Dhanteras.&nbsp;Investors have invested in gold ETFs. Assets under management (AUM) in gold ETFs have hit an all-time high of Rs 901 billion, reported Business Standard.&nbsp;Supported by the festive demand, India's gold imports jumped to a 10-month high of US$9.16 billion in September. RBI also added 0.2 tonnes of gold to its reserves.&nbsp;The World Gold Council said in its report: "The early onset of the festive season (September vs. October last year) and strong wedding demand helped to partially offset the impact of last year’s high base. Targeted marketing campaigns, promotional initiatives, and customer-centric purchase schemes – such as old gold exchange offers, lightweight options, and curated product launches – further supported consumer momentum".

The World Gold Council’s India Gold Market Update has said that the prices of gold hit their all-time high 48 times this year. The precious metal also crossed $4,000 per ounce mark globally.

The World Gold Council’s India Gold Market Update has said that the prices of gold hit their all-time high 48 times this year. The precious metal also crossed $4,000 per ounce mark globally. Why is gold rallying? Gold's domestic prices increased 66 per cent this year. The international gains were lower at 58 per cent. The prices saw an unprecedented surge because of geopolitical and global economic uncertainties that boosted the safe-haven demand. Donald Trump's tariff war and China's retaliation against the US have also pushed investors towards parking their money in gold. Investors are also anticipating US Federal Rate revisions this year. In India, the depreciation of the rupee against the US dollar led to more gains. The metal is trading above Rs 1,20,000 per 10 grams. Despite the high prices of gold, Indians bought precious metal worth over Rs 85000 crore during Dhanteras. Investors have invested in gold ETFs. Assets under management (AUM) in gold ETFs have hit an all-time high of Rs 901 billion, reported Business Standard. Supported by the festive demand, India's gold imports jumped to a 10-month high of US$9.16 billion in September. RBI also added 0.2 tonnes of gold to its reserves. The World Gold Council said in its report: "The early onset of the festive season (September vs. October last year) and strong wedding demand helped to partially offset the impact of last year’s high base. Targeted marketing campaigns, promotional initiatives, and customer-centric purchase schemes – such as old gold exchange offers, lightweight options, and curated product launches – further supported consumer momentum".

Gold prices in India: Donald Trump's tariff war and China's retaliation against the US have also pushed investors towards parking their money in gold.

Diwali 2025: Why is the gold demand high despite high prices?

A report by the American investment bank Goldman Sachs has predicted that the Reserve Bank of India (RBI) might cut policy rates by the end of the year, signaling the end of peak fiscal consolidation. It said that factors&nbsp;like GST reforms,&nbsp;domestic regulatory easing, etc, will likely promote a recovery in credit demand.<h2>What the Goldman Sachs report said about the RBI</h2>"We expect an additional policy rate cut before year-end, and the recent GST simplification signals that peak fiscal consolidation is behind us. We expect this, along with domestic regulatory easing, to foster a gradual recovery in credit demand," the report said.&nbsp;In the previous monetary police meeting, the RBI kept the policy rates unchanged&nbsp;at 5.5 per cent.&nbsp;The report said several external factors, including elevated tariffs on exports to the United States, can temper credit&nbsp;demand. Other factors include the H-1B visa issue,&nbsp;which&nbsp;could hamper IT immigration into the US.&nbsp;"External headwinds continue to weigh on India's outlook, including tighter US immigration costs for H-1B visas that affect Indian IT services, in addition to elevated US tariffs (50 percent) on Indian goods; these factors could temper credit demand alongside broader macro uncertainty," the report added.&nbsp;The Reserve Bank of India (RBI) Governors' monetary policy statement has opened up the possibility of another 25 basis points (bps) rate cut. However, the apex bank maintained the status quo on key rates.&nbsp;Last month, the central government eliminated the 12 per cent and 18 per cent Goods and Services Tax (GST) slabs. It also placed most of the items in these categories into the lower 5 per cent and 28 per cent slabs. It also introduced a new 40 per cent slab for sin goods.&nbsp;The measures were taken to boost domestic demand by leaving more money in the hands of the masses for discretionary spending.

A report by the American investment bank Goldman Sachs has predicted that the Reserve Bank of India (RBI) might cut policy rates by the end of the year, signaling the end of peak fiscal consolidation.

A report by the American investment bank Goldman Sachs has predicted that the Reserve Bank of India (RBI) might cut policy rates by the end of the year, signaling the end of peak fiscal consolidation. It said that factors like GST reforms, domestic regulatory easing, etc, will likely promote a recovery in credit demand. What the Goldman Sachs report said about the RBI "We expect an additional policy rate cut before year-end, and the recent GST simplification signals that peak fiscal consolidation is behind us. We expect this, along with domestic regulatory easing, to foster a gradual recovery in credit demand," the report said. In the previous monetary police meeting, the RBI kept the policy rates unchanged at 5.5 per cent. The report said several external factors, including elevated tariffs on exports to the United States, can temper credit demand. Other factors include the H-1B visa issue, which could hamper IT immigration into the US. "External headwinds continue to weigh on India's outlook, including tighter US immigration costs for H-1B visas that affect Indian IT services, in addition to elevated US tariffs (50 percent) on Indian goods; these factors could temper credit demand alongside broader macro uncertainty," the report added. The Reserve Bank of India (RBI) Governors' monetary policy statement has opened up the possibility of another 25 basis points (bps) rate cut. However, the apex bank maintained the status quo on key rates. Last month, the central government eliminated the 12 per cent and 18 per cent Goods and Services Tax (GST) slabs. It also placed most of the items in these categories into the lower 5 per cent and 28 per cent slabs. It also introduced a new 40 per cent slab for sin goods. The measures were taken to boost domestic demand by leaving more money in the hands of the masses for discretionary spending.

Goldman Sachs report on RBI: The report said several external factors, including elevated tariffs on exports to the United States, can temper credit&nbsp;demand.&nbsp;

RBI to reduce policy rates later this year? Report makes big predictions

Even as gold prices are skyrocketing because of global uncertainties&nbsp;exacerbated&nbsp;by Donald Trump's tariff onslaught, jewellery markets across India are buzzing due to the festive season. On Dhanteras this year, gold worth Rs 85,000 crore was sold over a period of two days.&nbsp;All India Gem and Jewellery Domestic Council (GJC) chairman Rajesh Rokde said that approximately 50 to 60 tonnes of jewellery were sold over the two days of Dhanteras, amounting to nearly Rs 85,000 crore.&nbsp;He said all categories of jewellery witnessed strong demand. In terms of volumes, the sales were similar to last year. However, since the prices of gold have nearly doubled, the growth in value terms was stellar.&nbsp;The sales of silver nearly doubled as consumers found the metal to be more affordable compared to gold, which has been hitting record rates.&nbsp;The body is anticipating more gold sales during the Diwali and Bhai Dooj festivals.GJC expects that the five-day festive window will deliver exceptional results. The total jewellery sales will reach between 100 and 120 tonnes. The total value of these transactions is expected to be between Rs 1 lakh crore to Rs 1.35 lakh crore.&nbsp;"Silver, in particular, has seen a surge--sales have nearly doubled as customers showed a clear preference for silver this season. With Dhanteras spanning two days and coinciding with a weekend, followed by Diwali and Bhau Beej (Bhai Dooj), the five-day festive window is expected to deliver exceptional results. We anticipate total sales reaching 100 to 120 tonnes, with a monetary value in the range of Rs 1 lakh crore to Rs 1.35 lakh crore," he added.

Even as gold prices are skyrocketing because of global uncertainties exacerbated by Donald Trump's tariff onslaught, jewellery markets across India are buzzing due to the festive season. 

Even as gold prices are skyrocketing because of global uncertainties exacerbated by Donald Trump's tariff onslaught, jewellery markets across India are buzzing due to the festive season. On Dhanteras this year, gold worth Rs 85,000 crore was sold over a period of two days. All India Gem and Jewellery Domestic Council (GJC) chairman Rajesh Rokde said that approximately 50 to 60 tonnes of jewellery were sold over the two days of Dhanteras, amounting to nearly Rs 85,000 crore. He said all categories of jewellery witnessed strong demand. In terms of volumes, the sales were similar to last year. However, since the prices of gold have nearly doubled, the growth in value terms was stellar. The sales of silver nearly doubled as consumers found the metal to be more affordable compared to gold, which has been hitting record rates. The body is anticipating more gold sales during the Diwali and Bhai Dooj festivals. GJC expects that the five-day festive window will deliver exceptional results. The total jewellery sales will reach between 100 and 120 tonnes. The total value of these transactions is expected to be between Rs 1 lakh crore to Rs 1.35 lakh crore. "Silver, in particular, has seen a surge--sales have nearly doubled as customers showed a clear preference for silver this season. With Dhanteras spanning two days and coinciding with a weekend, followed by Diwali and Bhau Beej (Bhai Dooj), the five-day festive window is expected to deliver exceptional results. We anticipate total sales reaching 100 to 120 tonnes, with a monetary value in the range of Rs 1 lakh crore to Rs 1.35 lakh crore," he added.

Gold rates on Diwali: All India Gem and Jewellery Domestic Council (GJC) chairman Rajesh Rokde said that approximately 50 to 60 tonnes of jewellery were sold.

Diwali 2025: How much gold was sold on Dhanteras?

The Jain International Trade Organisation (JITO) used a clever technique to secure a whopping Rs 21 crore discount on 186 luxury cars. The community of Jain traders bulk-bought luxury cars, making the companies shell out massive discounts.&nbsp;In total, the Jain International Trade Organisation (JITO) saved Rs 21.22 crore on 186 luxury vehicles across India.&nbsp;The prices of the cars were in the range of Rs 60 lakh and Rs 1.34 crore. The members of the group collectively saved the amount as the dealers of the cars benefited from assured sales and reduced marketing spends.&nbsp;The group had been talking about discounts with Audi, Mercedes, and BMW since February 2025.<h2>JITO's Innovative Scheme</h2>Amit Shah, convener of JITO J-Point, said that 190 cars had been purchased by JITO members. All of these vehicles were premium cars, and the offer is still active.&nbsp;He added that JITO sold 25-30 cars in Gujarat alone.&nbsp;"After this initiative, we launched another one. The leadership team of JITO J-Point has started a new campaign called JPoint Utsav – a 90-day campaign running through October, November, and December. In this, we have onboarded more than 15 brands for the benefit of our members. So far, members have purchased vehicles ranging from Rs 50 lakh to Rs 1.25 crore, through which they have collectively benefited by Rs 21 crore," he told ANI.&nbsp;Prakshal Shah, the Co-Convenor of JITO J-Point, said the organisation is working towards economic empowerment and knowledge. It is running 16 projects, one of which is J Point.&nbsp;This website could be used by any Jain across the world to buy or sell. It would work as an e-commerce website for the Jain community.&nbsp;JITO has 65,000-strong members. It has partnered with dealers of 15 top brands, including Audi, BMW, and Mercedes. It is expanding its purchase model into electronics, medicines, and jewellery.&nbsp;Meanwhile, the Bharwad community has adopted a similar collective approach. They bought 121 JCB machines at an average discount of Rs 3.3 lakh per unit.&nbsp;

The Jain International Trade Organisation (JITO) used a clever technique to secure a whopping Rs 21 crore on 186 luxury cars.

The Jain International Trade Organisation (JITO) used a clever technique to secure a whopping Rs 21 crore discount on 186 luxury cars. The community of Jain traders bulk-bought luxury cars, making the companies shell out massive discounts. In total, the Jain International Trade Organisation (JITO) saved Rs 21.22 crore on 186 luxury vehicles across India. The prices of the cars were in the range of Rs 60 lakh and Rs 1.34 crore. The members of the group collectively saved the amount as the dealers of the cars benefited from assured sales and reduced marketing spends. The group had been talking about discounts with Audi, Mercedes, and BMW since February 2025. JITO's Innovative Scheme Amit Shah, convener of JITO J-Point, said that 190 cars had been purchased by JITO members. All of these vehicles were premium cars, and the offer is still active. He added that JITO sold 25-30 cars in Gujarat alone. "After this initiative, we launched another one. The leadership team of JITO J-Point has started a new campaign called JPoint Utsav – a 90-day campaign running through October, November, and December. In this, we have onboarded more than 15 brands for the benefit of our members. So far, members have purchased vehicles ranging from Rs 50 lakh to Rs 1.25 crore, through which they have collectively benefited by Rs 21 crore," he told ANI. Prakshal Shah, the Co-Convenor of JITO J-Point, said the organisation is working towards economic empowerment and knowledge. It is running 16 projects, one of which is J Point. This website could be used by any Jain across the world to buy or sell. It would work as an e-commerce website for the Jain community. JITO has 65,000-strong members. It has partnered with dealers of 15 top brands, including Audi, BMW, and Mercedes. It is expanding its purchase model into electronics, medicines, and jewellery. Meanwhile, the Bharwad community has adopted a similar collective approach. They bought 121 JCB machines at an average discount of Rs 3.3 lakh per unit.

In total, the Jain International Trade Organisation (JITO) saved Rs 21.22 crore on 186 luxury vehicles across India.

How the Jain community's bulk buying saved Rs 21 crore on 186 cars

The Jain community, renowned for its strong business background and proficiency, managed to strike an amazing bulk deal, securing a huge collective discount of over Rs 21 crore on the purchase of 190 luxury vehicles, including brands like Mercedes, BMW, and Audi. The deal with enormous discount was struck in a special initiative by the Jain International Trade Organisation (JITO), a not-for-profit community body with 65,000 members from across India, and highlights the significance of the community’s buying power and business prowess. JITO vice president Himanshu Shah described it as a “one-of-its-kind deal” with the luxury brands. The organisation collaborated with 15 dealers of top brands like BMW and Mercedes and negotiated prices for its members.&nbsp;&nbsp;JITO acted only as a facilitator and did not profit from the deal, Shah told news agency PTI.Shah revealed that most of the luxury cars were bought by Gujarat-based Jains. The cost of the cars ranged between Rs 50 lakh and Rs 1.25 crore and the vehicles were delivered between January and June. “It helped our members save Rs 21 crore in discounts,” said Shah.&nbsp;&nbsp;

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Gujarat: Member of Jain International Trade Organisation (JITO) joins hands, buys 186 high-end luxury cars like BMW, Audi, and Mercedes; saves Rs 21 crores. Convener Amit Shah says, &quot;JITO JPoint is a project under JITO. JITO works on three things: service, knowledge,… <a href="https://t.co/HxmHyxqQhZ">pic.twitter.com/HxmHyxqQhZ</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1979920433613865417?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/thieves-used-cherry-picker-angle-grinder-in-7-minute-louvre-museum-heist-pulled-off-like-a-breeze-1760880195775">Thieves used ‘cherry picker’, ‘angle grinder’ in 7-minute Louvre Museum heist, pulled off like a breeze</a>&nbsp;The initiative was driven by Nitin Jain, a community member, after some JITO members came up with the idea that they could negotiate discounts from car dealers by leveraging their purchasing power. Since no marketing cost was involved, even carmakers saw this as a win-win situation.&nbsp;“Since buying power is one of the key strengths of Jains, we came up with this idea of directly contacting the brands to ensure higher discounts on purchases our members make. The carmakers also saw a win-win situation and offered us discounts as this deal eliminated their marketing cost,” Jain said.&nbsp;Also Read: <a href="https://www.wionews.com/world/anti-trump-rallies-sweep-across-us-states-and-world-as-huge-crowds-turn-up-in-no-kings-protests-1760818449941">Anti-Trump rallies sweep across US and world as huge crowds turn up in No Kings protests</a>&nbsp;The initiative began with a few members, and soon more people from the community got interested after hearing about the hefty discounts.“Soon, other JITO members also started buying cars. In all, 190 cars were bought and over Rs 21 crore was saved. On average, each member saved between Rs 8 lakh and Rs 17 lakh, enough to buy another car for a family member,” said Jain.&nbsp;JITO is now coming with a new initiative called ‘Utsav’ for similar deals with major brands in jewellery, consumer durables and electronics.

Since buying power is one of the key strengths of Jains, they came up with this idea of directly contacting the brands to ensure higher discounts on purchases by members. The carmakers also saw a win-win situation and offered discounts as this deal eliminated their marketing cost.

The Jain community, renowned for its strong business background and proficiency, managed to strike an amazing bulk deal, securing a huge collective discount of over Rs 21 crore on the purchase of 190 luxury vehicles, including brands like Mercedes, BMW, and Audi. The deal with enormous discount was struck in a special initiative by the Jain International Trade Organisation (JITO), a not-for-profit community body with 65,000 members from across India, and highlights the significance of the community’s buying power and business prowess. JITO vice president Himanshu Shah described it as a “one-of-its-kind deal” with the luxury brands. The organisation collaborated with 15 dealers of top brands like BMW and Mercedes and negotiated prices for its members. JITO acted only as a facilitator and did not profit from the deal, Shah told news agency PTI. Shah revealed that most of the luxury cars were bought by Gujarat-based Jains. The cost of the cars ranged between Rs 50 lakh and Rs 1.25 crore and the vehicles were delivered between January and June. “It helped our members save Rs 21 crore in discounts,” said Shah.

Since buying power is one of the key strengths of Jains, they came up with this idea of directly contacting the brands to ensure higher discounts on purchases by members. The carmakers also saw a win-win situation and offered discounts as this deal eliminated their marketing cost.

Jain community members buy 190 luxury cars, get Rs 21 crore discount in bulk deal

Gold prices have surged across major cities in India, driving the festive demand of Dhanteras 2025. As of October 18, the price of 24-carat gold across major Indian cities has reached a record Rs 1,34,800 per 10 grams. It then simmered down with varying rates across cities at Mumbai, Rs 1,32,770, New Delhi at Rs 1,32,920, &nbsp;and Chennai at Rs 1,33,090. Similarly, the price for 22-carat gold ranged from Rs 1,21,700 to &nbsp;Rs 1,22,000.&nbsp;Experts are predicting a further surge, driven by the continued geopolitical tension. Globally, gold prices have hit their best week in five years. The price rise is driven by the central bank purchasing, fear of rate cuts by US Federal Reserve, and massive ETF (exchange-traded funds) inflows. &nbsp;Peter Schiff, the Chief Economic and Global strategist at Euro Pacific Asset Management, said “this is getting serious” and “something big is about to happen”. The persistent trade friction between US-China and speculation of further rate cuts by the US Federal Reserve, along with the ongoing surge in gold prices to historic highs in October 2025 seen as indicators of looming risks.

<blockquote class="twitter-tweet">This is getting serious. Gold is at $4,370. It could hit $4,400 tonight. That&#39;s a 10% move in just over a week. Something big is about to happen.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1978950935708618861?ref_src=twsrc%5Etfw">October 16, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Global fear drives the demand for a hedge</h2>The latest surge in gold prices reflects more than festive enthusiasm, like a deep-seated economic anxiety. Key economic warnings include the growing fiscal crisis among the wealthy nations in 2025, and the overheated AI stock market, which economists warn could trigger a global market crash like the dotcom bubble crash of 2000.&nbsp;With global inflation pressure and bond yields fluctuating, the demand for gold as a hedge against rising prices remains bullish. Popular predictions by Goldman Sachs, HSBC and ANZ project gold to reach $4,000- $5,000 per ounce in 2025 to 2026. As a result of the global bullion demand, Indian cultural values mirror the financial caution. Dhanteras have long been associated with wealth and auspiciousness, and are pushing buyers towards jewellery, gold coins and digital gold despite the skyrocketing prices.

Gold prices in India soar to ₹1,34,800 per 10 grams ahead of Dhanteras 2025, with experts warning of a global market crisis amid economic uncertainty.

Gold prices have surged across major cities in India, driving the festive demand of Dhanteras 2025. As of October 18, the price of 24-carat gold across major Indian cities has reached a record Rs 1,34,800 per 10 grams. It then simmered down with varying rates across cities at Mumbai, Rs 1,32,770, New Delhi at Rs 1,32,920, and Chennai at Rs 1,33,090. Similarly, the price for 22-carat gold ranged from Rs 1,21,700 to Rs 1,22,000. Experts are predicting a further surge, driven by the continued geopolitical tension. Globally, gold prices have hit their best week in five years. The price rise is driven by the central bank purchasing, fear of rate cuts by US Federal Reserve, and massive ETF (exchange-traded funds) inflows. Peter Schiff, the Chief Economic and Global strategist at Euro Pacific Asset Management, said “this is getting serious” and “something big is about to happen”. The persistent trade friction between US-China and speculation of further rate cuts by the US Federal Reserve, along with the ongoing surge in gold prices to historic highs in October 2025 seen as indicators of looming risks.

Gold prices in India soar to ₹1,34,800 per 10 grams ahead of Dhanteras 2025, with experts warning of a global market crisis amid economic uncertainty.

Amid Dhanteras gold prices skyrocket, economist warn of 'something big'

Artificial intelligence will not only hit the job market but will impact the music industry as well, as AI-generated music could gradually weaken the demand for artist-created content and impact royalty-backed music intellectual property (IP), said Fitch Ratings in a report.<h2>How will AI impact the music industry?</h2>Since this trend can eventually reduce royalty payments that support music, industry stakeholders have said that tighter rules are needed to protect copyrights.&nbsp;"DSPs continue to adapt to evolving technology disruptions, and major industry stakeholders broadly support tighter AI controls to protect copyright holders," said Fitch Ratings.&nbsp;Music platforms are tightening controls even when AI-generated tracks make up a small share of total streams.&nbsp;Spotify is enforcing stricter anti-impersonation rules and introducing filters to detect spam, mass uploads, and duplicate tracks.&nbsp;These measures promote transparency, and prioritizing artist-created content could help protect royalty flows, it said.&nbsp;According to the report, some service providers might produce their own AI-generated music, which would lower their content costs and provide them with royalty rights.&nbsp;Diversification is key to stabilizing music IP ABS cash flows, with genre, geography, artist, and vintage being crucial factors. Additionally, legal developments and licensing agreements, like ElevenLabs and Kobalt Music's deal, may impact future revenue streams for artists and copyright holders.&nbsp;AI tracks can also be removed from recommendations. These tracks can also be labeled as AI content, boosting fair payments and visibility for human artists.

Artificial intelligence will not only hit the job market but will impact the music industry as well, as AI-generated music could gradually weaken the demand for artist-created content and impact royalty-backed music intellectual property (IP).

Artificial intelligence will not only hit the job market but will impact the music industry as well, as AI-generated music could gradually weaken the demand for artist-created content and impact royalty-backed music intellectual property (IP), said Fitch Ratings in a report. How will AI impact the music industry? Since this trend can eventually reduce royalty payments that support music, industry stakeholders have said that tighter rules are needed to protect copyrights. "DSPs continue to adapt to evolving technology disruptions, and major industry stakeholders broadly support tighter AI controls to protect copyright holders," said Fitch Ratings. Music platforms are tightening controls even when AI-generated tracks make up a small share of total streams. Spotify is enforcing stricter anti-impersonation rules and introducing filters to detect spam, mass uploads, and duplicate tracks. These measures promote transparency, and prioritizing artist-created content could help protect royalty flows, it said. According to the report, some service providers might produce their own AI-generated music, which would lower their content costs and provide them with royalty rights. Diversification is key to stabilizing music IP ABS cash flows, with genre, geography, artist, and vintage being crucial factors. Additionally, legal developments and licensing agreements, like ElevenLabs and Kobalt Music's deal, may impact future revenue streams for artists and copyright holders. AI tracks can also be removed from recommendations. These tracks can also be labeled as AI content, boosting fair payments and visibility for human artists.

Since this trend can eventually reduce royalty payments that support music, industry stakeholders have said that tighter rules are needed to protect copyrights.

Artificial intelligence can impact music industry, royalties: Report

Crypto markets dipped again on Friday morning. Leveraged positions worth $1.2 billion were wiped out due to the crash. Why are cryptocurrencies crashing?&nbsp;Illia Otychenko, lead analyst at the CEX.IO exchange, told DL News that Bitcoin's latest drop is driven by macro stress. He said that the US government's shutdown, global trade tensions, and the outflow from Bitcoin ETFs have created what he called a "risk-off" environment.&nbsp;Dom Harz, co-founder of the BOB blockchain, said that there is a strong conviction that Bitcoin is a utility asset and not just a store of value.&nbsp;Citrini Research has warned that Donald Trump’s future trade strategy will either upend the market or remain a key source of volatility. It said that promises of de-escalation or stimulus might prevent a collapse.&nbsp;Another key factor to watch could be the anticipated&nbsp;policy announcement of the US Federal Reserve. A 25 bps cut in the rate could boost investor sentiment.<h2>What has triggered the crypto market crash?</h2>The ongoing US-China trade tensions have added to the fear among all investors of risk assets. Also, many investors are booking profits after the crypto market cap hit a record $4.27 trillion. The cryptomarket reacts strongly to macro and sentiment shocks.&nbsp;Markets, however, recovered a bit as US-China sentiment eased.&nbsp;On Friday morning, Bitcoin fell 4 per cent to around $103,550. Ethereum dropped to below $3,700, marking a 24% drop from its August peak.&nbsp;On October 6, Bitcoin's value hit its highest ever at $126,251. However, since then, the cryptocurrency has lost nearly 18 per cent of its value.&nbsp;The market capitalization has slid 5.9% to $3.64 trillion, which is at its lowest level since July.

Crypto markets dipped again on Friday morning. Leveraged positions worth $1.2 billion were wiped out due to the crash. Why are cryptocurrencies crashing?

Crypto markets dipped again on Friday morning. Leveraged positions worth $1.2 billion were wiped out due to the crash. Why are cryptocurrencies crashing? Illia Otychenko, lead analyst at the CEX.IO exchange, told DL News that Bitcoin's latest drop is driven by macro stress. He said that the US government's shutdown, global trade tensions, and the outflow from Bitcoin ETFs have created what he called a "risk-off" environment. Dom Harz, co-founder of the BOB blockchain, said that there is a strong conviction that Bitcoin is a utility asset and not just a store of value. Citrini Research has warned that Donald Trump’s future trade strategy will either upend the market or remain a key source of volatility. It said that promises of de-escalation or stimulus might prevent a collapse. Another key factor to watch could be the anticipated policy announcement of the US Federal Reserve. A 25 bps cut in the rate could boost investor sentiment. What has triggered the crypto market crash? The ongoing US-China trade tensions have added to the fear among all investors of risk assets. Also, many investors are booking profits after the crypto market cap hit a record $4.27 trillion. The cryptomarket reacts strongly to macro and sentiment shocks. Markets, however, recovered a bit as US-China sentiment eased. On Friday morning, Bitcoin fell 4 per cent to around $103,550. Ethereum dropped to below $3,700, marking a 24% drop from its August peak. On October 6, Bitcoin's value hit its highest ever at $126,251. However, since then, the cryptocurrency has lost nearly 18 per cent of its value. The market capitalization has slid 5.9% to $3.64 trillion, which is at its lowest level since July.

Why are crypto markets falling? The ongoing US-China trade tensions have added to the fear among all investors of risk assets.

Why are crypto markets falling? Explained

US bank stocks slid further in premarket trading on Friday. The slide was witnessed after a sharp sell-off in regional lenders. Shares of several banks, like Bank of America Corp, Citigroup Inc, Morgan Stanley, and Wells Fargo, dropped over 1.5 per cent at 4.40 am, New York time. The slide came a day after regional bank stocks plummeted on Thursday.&nbsp;Zions Bancorp and Western Alliance Bancorp said they were the victims of fraud on loans to funds that invest in distressed commercial mortgages. On Friday, the shares of Zions dipped 1.8 per cent.<h2>Here's what happened&nbsp;</h2>The S&amp;P Regional Banks Select Industry Index fell 6.3% on Thursday. Market pundits&nbsp;have now set their eyes on the earnings for the group, as several regional banks are scheduled to declare their results soon.&nbsp;Leonard Cohen, chief executive officer of Ginjer AM in Paris, told Bloomberg that investors are worried that they haven't yet identified risk areas.&nbsp;Auto lenders like Tricolor Holdings and car-parts supplier First Brands Group had investors on edge. JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon's “cockroaches” remark made the issue worse.&nbsp;Nick Brind, fund manager of Polar Capital Global Financials Trust, said that the self-off would be short-lived. He also said that lenders will need to tighten processes.&nbsp;Meanwhile, Europe's Stoxx 600 Banks Index also fell three per cent. It is the steepest decline since August&nbsp;1. Deutsche Bank AG, Barclays Plc, and Société Générale SA slid more than 4 per cent.&nbsp;US regional banks on Friday, with Truist Financial Corp., Huntington Bancshares, Fifth Third Bancorp, Regions Financial Corp., and Comerica Inc., will report, which may result in more earnings.&nbsp;RBC Capital Markets analyst Jon Arfstrom said that the regional banks today remain well reserved for potential losses.&nbsp;"What we see in the banks selling off overnight in the US, Asia wakes up to it, Europe wakes up to it, and so it spreads," James Rossiter, TD Securities head of global macro strategy, told Reuters.

US bank stocks slid further in premarket trading on Friday. The slide was witnessed after a sharp sell-off in regional lenders. Shares of several banks, like Bank of America Corp, Citigroup Inc, Morgan Stanley, and Wells Fargo, dropped over 1.5 per cent at 4.40 am, New York time.

US bank stocks slid further in premarket trading on Friday. The slide was witnessed after a sharp sell-off in regional lenders. Shares of several banks, like Bank of America Corp, Citigroup Inc, Morgan Stanley, and Wells Fargo, dropped over 1.5 per cent at 4.40 am, New York time. The slide came a day after regional bank stocks plummeted on Thursday. Zions Bancorp and Western Alliance Bancorp said they were the victims of fraud on loans to funds that invest in distressed commercial mortgages. On Friday, the shares of Zions dipped 1.8 per cent. Here's what happened The S&P Regional Banks Select Industry Index fell 6.3% on Thursday. Market pundits have now set their eyes on the earnings for the group, as several regional banks are scheduled to declare their results soon. Leonard Cohen, chief executive officer of Ginjer AM in Paris, told Bloomberg that investors are worried that they haven't yet identified risk areas. Auto lenders like Tricolor Holdings and car-parts supplier First Brands Group had investors on edge. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon's “cockroaches” remark made the issue worse. Nick Brind, fund manager of Polar Capital Global Financials Trust, said that the self-off would be short-lived. He also said that lenders will need to tighten processes. Meanwhile, Europe's Stoxx 600 Banks Index also fell three per cent. It is the steepest decline since August 1. Deutsche Bank AG, Barclays Plc, and Société Générale SA slid more than 4 per cent. US regional banks on Friday, with Truist Financial Corp., Huntington Bancshares, Fifth Third Bancorp, Regions Financial Corp., and Comerica Inc., will report, which may result in more earnings. RBC Capital Markets analyst Jon Arfstrom said that the regional banks today remain well reserved for potential losses. "What we see in the banks selling off overnight in the US, Asia wakes up to it, Europe wakes up to it, and so it spreads," James Rossiter, TD Securities head of global macro strategy, told Reuters.

US bank stocks slide: Auto lenders like Tricolor Holdings and car-parts supplier First Brands Group had investors on edge.&nbsp;

US bank stocks slide amid investor unease over US credit risk

The Labour Ministry and the Employees' Provident Fund Organisation (EPFO), in separate posts on X, have sought to allay fears regarding the new changes in provident fund withdrawal rules. Trinamool Congress MP Saket Gokhale had called the new norms "shocking and ridiculous".&nbsp;"The claims being circulated are factually incorrect and grossly misleading,” said the Labour Ministry and the Employees’ Provident Fund Organisation (EPFO).&nbsp;EPFO has merged 13 provisions for partial withdrawals into a framework. Earlier, members were allowed to withdraw only between 50 per cent and 100 per cent&nbsp;of their own contribution and interest. Now, both the employer and the employee contributions and the interest are eligible for withdrawal.&nbsp;However, one critical rule that is being criticised is that unemployed members can now only withdraw 75 per cent of their PF balance immediately. This includes the contributions as well as accrued interest. The remaining 25 per cent can only be withdrawn after completing a year of being unemployed.&nbsp;Full withdrawal is permitted in cases of retirement, disability, retrenchment, voluntary retirement, and permanent migration abroad. The rule has been imposed because the government wants the members to retain a retirement corpus.&nbsp;This money gets compounding interest at 8.25 per cent, which ensures a stronger retirement corpus. They can also withdraw their pension after 36 months of making zero contributions. Earlier, this time limit was 2 months.<h2>Here's the step-by-step process based on current guidelines:</h2> 1. Log in to EPFO Member Portal: Visit the EPFO portal, enter your UAN, password, and captcha. 2. Online Services: Click on ‘Online Services’ → ‘Claim (Form-31, 19, 10C &amp; 10D)’. 3. Select Form: Choose Form 19 (full withdrawal), Form 31 (partial advance), or Form 10C (pension). 4. Verify Details: Ensure KYC (Aadhaar, PAN, bank) is updated. 5. Bank Details: Enter and verify the bank account linked to UAN. 6. Purpose &amp; Amount: For partial withdrawal (Form 31), select purpose (Essential Needs, Housing, Special Circumstances). 7. Aadhaar OTP: Authenticate via OTP sent to registered mobile. 8. Submit Claim: Claim processed typically within 3-15 working days with updated KYC. &nbsp;

Employees' Provident Fund Organisation news: EPFO has merged 13 provisions for partial withdrawals into a framework. Earlier, members were allowed to withdraw only between 50 per cent and 100 per centof their own contribution and interest.

The Labour Ministry and the Employees' Provident Fund Organisation (EPFO), in separate posts on X, have sought to allay fears regarding the new changes in provident fund withdrawal rules. Trinamool Congress MP Saket Gokhale had called the new norms "shocking and ridiculous". "The claims being circulated are factually incorrect and grossly misleading,” said the Labour Ministry and the Employees’ Provident Fund Organisation (EPFO). EPFO has merged 13 provisions for partial withdrawals into a framework. Earlier, members were allowed to withdraw only between 50 per cent and 100 per cent of their own contribution and interest. Now, both the employer and the employee contributions and the interest are eligible for withdrawal. However, one critical rule that is being criticised is that unemployed members can now only withdraw 75 per cent of their PF balance immediately. This includes the contributions as well as accrued interest. The remaining 25 per cent can only be withdrawn after completing a year of being unemployed. Full withdrawal is permitted in cases of retirement, disability, retrenchment, voluntary retirement, and permanent migration abroad. The rule has been imposed because the government wants the members to retain a retirement corpus. This money gets compounding interest at 8.25 per cent, which ensures a stronger retirement corpus. They can also withdraw their pension after 36 months of making zero contributions. Earlier, this time limit was 2 months. Here's the step-by-step process based on current guidelines: 1. Log in to EPFO Member Portal: Visit the EPFO portal, enter your UAN, password, and captcha. 2. Online Services: Click on ‘Online Services’ → ‘Claim (Form-31, 19, 10C & 10D)’. 3. Select Form: Choose Form 19 (full withdrawal), Form 31 (partial advance), or Form 10C (pension). 4. Verify Details: Ensure KYC (Aadhaar, PAN, bank) is updated. 5. Bank Details: Enter and verify the bank account linked to UAN. 6. Purpose & Amount: For partial withdrawal (Form 31), select purpose (Essential Needs, Housing, Special Circumstances). 7. Aadhaar OTP: Authenticate via OTP sent to registered mobile. 8. Submit Claim: Claim processed typically within 3-15 working days with updated KYC.

Employees' Provident Fund Organisation news: EPFO has merged 13 provisions for partial withdrawals into a framework. Earlier, members were allowed to withdraw only between 50 per cent and 100 per cent&nbsp;of their own contribution and interest.

What does EPFO say about criticism over the new PF withdrawal rules?

Infosys, one of India's biggest IT companies, hired 12,000 freshers for the first half of the fiscal year 2026. This comes amid pressure on the job market in the technology sector due to the artificial intelligence revolution. The company is expected to hire 20,000 freshers in total, said Infosys CFO Jayesh Sanghrajka. He remarked while announcing the company's second-quarter earnings.&nbsp;The company added 8,203 employees in the second quarter. The company's total headcount rose to 331,991. The attrition rate also fell marginally -- from 14.4 per cent to 14.3 per cent.&nbsp;"At the beginning of the year, we were aiming for 15,000-20,000 freshers. But in the first half itself, we have hired about 12,000 freshers. So, we are now on track to hire a total of 20,000 freshers this year,” Sanghrajka was quoted as saying.<h2>Infosys results</h2>Infosys Ltd's consolidated net profit rose by 13.2 per cent year-on-year. The net profit was Rs 7,364 crore for the July-September quarter (Q2 FY26). Infosys has announced an interim dividend of Rs 23 per share. It is an increase of 9.5 per cent over the previous year. The firm's revenue also grew 8.6 per cent to Rs 44,490 crore.&nbsp;Meanwhile, HCLTech hired 7,180 freshers in H1FY26. It hired 17000 employees in the first quarter and plans to recruit 20,000 fresh graduates in the current fiscal year.

Infosys, one of India's biggest IT companies, hired 12,000 freshers for the first half of the fiscal year 2026. 

Infosys, one of India's biggest IT companies, hired 12,000 freshers for the first half of the fiscal year 2026. This comes amid pressure on the job market in the technology sector due to the artificial intelligence revolution. The company is expected to hire 20,000 freshers in total, said Infosys CFO Jayesh Sanghrajka. He remarked while announcing the company's second-quarter earnings. The company added 8,203 employees in the second quarter. The company's total headcount rose to 331,991. The attrition rate also fell marginally -- from 14.4 per cent to 14.3 per cent. "At the beginning of the year, we were aiming for 15,000-20,000 freshers. But in the first half itself, we have hired about 12,000 freshers. So, we are now on track to hire a total of 20,000 freshers this year,” Sanghrajka was quoted as saying. Infosys results Infosys Ltd's consolidated net profit rose by 13.2 per cent year-on-year. The net profit was Rs 7,364 crore for the July-September quarter (Q2 FY26). Infosys has announced an interim dividend of Rs 23 per share. It is an increase of 9.5 per cent over the previous year. The firm's revenue also grew 8.6 per cent to Rs 44,490 crore. Meanwhile, HCLTech hired 7,180 freshers in H1FY26. It hired 17000 employees in the first quarter and plans to recruit 20,000 fresh graduates in the current fiscal year.

The company added 8,203 employees in the second quarter. The company's total headcount rose to 331,991. The attrition rate also fell marginally -- from 14.4 per cent to 14.3 per cent.

Amid AI-induced disruption, Infosys hires 12000 fresh graduates

Zepto, one of India's leading quick commerce platforms, has raised $450-million in a funding round led by California Public Employees’ Retirement System (CalPERS). The funding round has raised the valuation of the company to $7 billion from $5 billion, at which it raised money last year.&nbsp;Avenir, Avra, Lightspeed, Glade Brook, the Stepstone Group, and Nexus Venture Partners joined this funding round. The cofounder and CEO of Zepto, Aadit Palicha, said in a statement that the company&nbsp;has $900 million in the bank and is well-capitalised for future needs.<h2>All you need to know about Zepto</h2>ET reported in April last year that Palicha and Kaivalya Vohra were in advanced talks with investors for credit funds of over $175 million.&nbsp;Zepto, which delivers groceries and electronics within minutes through app orders, had received funding of Rs 400 crore from Motilal Oswal Financial Services last year. It was part of a Rs 1000 crore round that valued Zepto at around $5.4 billion.&nbsp;Zepto is currently attempting to stop its cash burn. The company clocked Rs 11,109 crore in revenues in FY25, which is way higher than Rs 4,454 crore in the previous year.&nbsp;It competes with Swiggy’s Instamart, Eternal-owned Blinkit, and Tata-owned BigBasket.&nbsp;Amazon and Flipkart have launched their quick commerce platforms, intensifying competition in the novel segment. Zepto has also launched its medicine delivery vertical&nbsp;in Delhi-NCR, Mumbai, Bengaluru, and Hyderabad.

Zepto, one of India's leading quick commerce platforms, has raised $450-million in a funding round led by California Public Employees’ Retirement System (CalPERS). 

Zepto, one of India's leading quick commerce platforms, has raised $450-million in a funding round led by California Public Employees’ Retirement System (CalPERS). The funding round has raised the valuation of the company to $7 billion from $5 billion, at which it raised money last year. Avenir, Avra, Lightspeed, Glade Brook, the Stepstone Group, and Nexus Venture Partners joined this funding round. The cofounder and CEO of Zepto, Aadit Palicha, said in a statement that the company has $900 million in the bank and is well-capitalised for future needs. All you need to know about Zepto ET reported in April last year that Palicha and Kaivalya Vohra were in advanced talks with investors for credit funds of over $175 million. Zepto, which delivers groceries and electronics within minutes through app orders, had received funding of Rs 400 crore from Motilal Oswal Financial Services last year. It was part of a Rs 1000 crore round that valued Zepto at around $5.4 billion. Zepto is currently attempting to stop its cash burn. The company clocked Rs 11,109 crore in revenues in FY25, which is way higher than Rs 4,454 crore in the previous year. It competes with Swiggy’s Instamart, Eternal-owned Blinkit, and Tata-owned BigBasket. Amazon and Flipkart have launched their quick commerce platforms, intensifying competition in the novel segment. Zepto has also launched its medicine delivery vertical in Delhi-NCR, Mumbai, Bengaluru, and Hyderabad.

Zepto, which delivers groceries and electronics within minutes through app orders, had received funding of Rs 400 crore from Motilal Oswal Financial Services last year.

Zepto raises $450 million, valuation of Aadit Palicha-led platform rises to...

Gold prices are continuing to surge in 2025 because of a mix of factors, including global fiscal concerns, currency weakness, and strong institutional buying. The precious metal has delivered over 65 per cent returns this year as investors are buying gold amid rising market uncertainty. In India, gold prices were above Rs 1.28 lakh per 10 grams.<h2>Will the gold prices continue to rise?</h2>A report by Religare Broking says that sustained central bank buying and persistent fiscal stress across major economies will continue to support gold prices in the near term. It, however, advised investors to focus on risk management as well. It is recommended that investors adopt a staggered buying approach.&nbsp;Fresh accumulation could be considered on dips toward Rs 1,14,000-Rs 1,18,000 per 10 grams, with upside potential up to Rs 1,42,000. A decisive fall below Rs 1,05,000, however, may trigger a deeper corrective phase, the report added.<h2>Why are gold prices increasing?</h2>The report said that gold has emerged as a reliable hedge against both currency depreciation and market volatility. Whenever any stress threatens economic stability, gold becomes a safe haven investment.&nbsp;A weaker dollar typically lifts gold prices. This is because it makes gold cheaper for currency holders.&nbsp;In India, the prices of gold rose because the rupee depreciated.&nbsp;Across the world, central banks played a key role in sustaining gold's rally. Their continued accumulation of gold signals confidence in its long-term stability. Global central bank purchases surpassed 1,000 tonnes for the third consecutive year in 2024.

Gold prices are continuing to surge in 2025 because of a mix of factors, including global fiscal concerns, currency weakness, and strong institutional buying.

Gold prices are continuing to surge in 2025 because of a mix of factors, including global fiscal concerns, currency weakness, and strong institutional buying. The precious metal has delivered over 65 per cent returns this year as investors are buying gold amid rising market uncertainty. In India, gold prices were above Rs 1.28 lakh per 10 grams. Will the gold prices continue to rise? A report by Religare Broking says that sustained central bank buying and persistent fiscal stress across major economies will continue to support gold prices in the near term. It, however, advised investors to focus on risk management as well. It is recommended that investors adopt a staggered buying approach. Fresh accumulation could be considered on dips toward Rs 1,14,000-Rs 1,18,000 per 10 grams, with upside potential up to Rs 1,42,000. A decisive fall below Rs 1,05,000, however, may trigger a deeper corrective phase, the report added. Why are gold prices increasing? The report said that gold has emerged as a reliable hedge against both currency depreciation and market volatility. Whenever any stress threatens economic stability, gold becomes a safe haven investment. A weaker dollar typically lifts gold prices. This is because it makes gold cheaper for currency holders. In India, the prices of gold rose because the rupee depreciated. Across the world, central banks played a key role in sustaining gold's rally. Their continued accumulation of gold signals confidence in its long-term stability. Global central bank purchases surpassed 1,000 tonnes for the third consecutive year in 2024.

Gold prices in India: Fresh accumulation could be considered on dips toward Rs 1,14,000-Rs 1,18,000 per 10 grams, with upside potential up to Rs 1,42,000.

Will gold prices continue to rise? Report recommends 'risk management'

Days before Diwali, India's stock markets witnessed a sharp increase in their indices. Buoyed by positive global cues and renewed optimism surrounding India-US trade talks, Nifty50 at the National Stock Exchange (NSE) was up 261.75 points at 25,585.30, while BSE Sensex stood at 83,467.66, up 862.23 points.&nbsp;Large-cap stocks like Axis Bank, Kotak Mahindra Bank, ICICI Bank, and Reliance Industries significantly contributed to the rally in the Indian stock markets.&nbsp;Except for Nifty PSU Bank, all sectoral indices showed positive momentum. Nifty FMCG, Nifty Realty, and Nifty Private Bank emerged as the top gainers. The BSE midcap index rose 0.3 per cent, and the small-cap index added 0.6 per cent.<h2>What experts said on Nifty, BSE rally</h2>Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, said that both Nifty Midcap and Nifty Small Cap 10 indices lagged behind the frontline index. However, they closed in positive territory.&nbsp;The rally was led by selective participation, primarily in large-cap names.&nbsp;Praveen Dwarakanath, Vice President of Hedged.in, said, "Nifty gapped up and continued its momentum towards its immediate resistance at the 25650 level. The momentum indicators on the weekly chart indicate strong momentum and suggest that prices can continue to rise much higher".&nbsp;He further said that Nifty will move towards an all-time high of 26,250 before the month ends.&nbsp;Meanwhile, Nifty's banking benchmark, Bank Nifty, extended its gains throughout the session and continued its northward trajectory.

Buoyed by positive global cues and renewed optimism surrounding India-US trade talks, Nifty50 at the National Stock Exchange (NSE) was up 261.75 points at 25,585.30, while BSE Sensex stood at 83,467.66, up 862.23 points.

Days before Diwali, India's stock markets witnessed a sharp increase in their indices. Buoyed by positive global cues and renewed optimism surrounding India-US trade talks, Nifty50 at the National Stock Exchange (NSE) was up 261.75 points at 25,585.30, while BSE Sensex stood at 83,467.66, up 862.23 points. Large-cap stocks like Axis Bank, Kotak Mahindra Bank, ICICI Bank, and Reliance Industries significantly contributed to the rally in the Indian stock markets. Except for Nifty PSU Bank, all sectoral indices showed positive momentum. Nifty FMCG, Nifty Realty, and Nifty Private Bank emerged as the top gainers. The BSE midcap index rose 0.3 per cent, and the small-cap index added 0.6 per cent. What experts said on Nifty, BSE rally Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, said that both Nifty Midcap and Nifty Small Cap 10 indices lagged behind the frontline index. However, they closed in positive territory. The rally was led by selective participation, primarily in large-cap names. Praveen Dwarakanath, Vice President of Hedged.in, said, "Nifty gapped up and continued its momentum towards its immediate resistance at the 25650 level. The momentum indicators on the weekly chart indicate strong momentum and suggest that prices can continue to rise much higher". He further said that Nifty will move towards an all-time high of 26,250 before the month ends. Meanwhile, Nifty's banking benchmark, Bank Nifty, extended its gains throughout the session and continued its northward trajectory.

Large-cap stocks like Axis Bank, Kotak Mahindra Bank, ICICI Bank, and Reliance Industries significantly contributed to the rally in the Indian stock markets.

Ahead of Diwali 2025, Sensex and Nifty witness strong rally; here's why

Many people have complained about not getting health insurance benefits, as they didn't reveal pre-existing conditions while porting their insurance cover. However, the Insurance Regulatory and Development Authority of India (IRDAI) mandates that the insured doesn't lose their benefits when they switch from one insurance provider to the other.&nbsp;IRDAI&nbsp;mandates a moratorium clause. Under this, if a police officer has been active for five years, a claim can't be denied on grounds that the insured didn't disclose or misrepresent. However, the only exception to this rule is proven fraud.&nbsp;Even when the five-year threshold&nbsp;hasn't been reached, insurers are expected to consider the policyholder’s continuous coverage history. Portability ensures that exclusions for pre-existing conditions should not reset, reported ET.&nbsp;However, it is best to disclose preexisting&nbsp;health conditions before porting. However, insurance providers can't deny claims purely on technical grounds if there is no evidence of wilful fraud and continuity is maintained.&nbsp;If a person's insurance claim is rejected based on these conditions, she can write to the Grievance Redressal Officer (GRO). To escalate, she can complain to the Bima Bharosa portal. One must keep the policy copies, premium receipts, medical records, hospital bills, and other documents for this.&nbsp;They can also approach the Insurance Ombudsman with their complaint.<h2>What is The Insurance Regulatory and Development Authority of India?</h2>The Insurance Regulatory and Development Authority of India is a statutory body responsible for supervising and developing the insurance sector in India. It was established in 1999. It regulates the industry, protects policyholders, promotes the growth of the industry, and prevents malpractices.

Many people have complained about not getting health insurance benefits, as they didn't reveal pre-existing conditions while porting their insurance cover. 

Many people have complained about not getting health insurance benefits, as they didn't reveal pre-existing conditions while porting their insurance cover. However, the Insurance Regulatory and Development Authority of India (IRDAI) mandates that the insured doesn't lose their benefits when they switch from one insurance provider to the other. IRDAI mandates a moratorium clause. Under this, if a police officer has been active for five years, a claim can't be denied on grounds that the insured didn't disclose or misrepresent. However, the only exception to this rule is proven fraud. Even when the five-year threshold hasn't been reached, insurers are expected to consider the policyholder’s continuous coverage history. Portability ensures that exclusions for pre-existing conditions should not reset, reported ET. However, it is best to disclose preexisting health conditions before porting. However, insurance providers can't deny claims purely on technical grounds if there is no evidence of wilful fraud and continuity is maintained. If a person's insurance claim is rejected based on these conditions, she can write to the Grievance Redressal Officer (GRO). To escalate, she can complain to the Bima Bharosa portal. One must keep the policy copies, premium receipts, medical records, hospital bills, and other documents for this. They can also approach the Insurance Ombudsman with their complaint. What is The Insurance Regulatory and Development Authority of India? The Insurance Regulatory and Development Authority of India is a statutory body responsible for supervising and developing the insurance sector in India. It was established in 1999. It regulates the industry, protects policyholders, promotes the growth of the industry, and prevents malpractices.

Porting health insurance: Even when the five-year threshold&nbsp;hasn't been reached, insurers are expected to consider the policyholder’s continuous coverage history.

Porting health insurance: Will your claims be rejected because of non-disclosure?

Nestle, the Swiss multinational known for brands like Nespresso and Perrier, announced on Thursday (October 16) that it would layoff 16,000 jobs globally over the next two years, a move that significantly boosted its share price. Philipp Navratil, who assumed the CEO role in September, said that the company needs to adapt more swiftly to a changing global market. He described the job reductions as tough but essential for the company’s future.&nbsp;Shares of the company surged by over 8% in early trading, which also helped push Zurich’s stock market to the top of Europe’s performance charts. Nestle's announcement came with the release of its financial results for the first nine months of the year, revealing a slight 1.9% drop in sales, totaling 65.9 billion Swiss francs ($83 billion). The planned layoffs will affect about 6% of Nestle’s workforce, with 12,000 office-based positions being cut to help the company save one billion Swiss francs, a target now set to double from prior estimates. Additionally, 4,000 production and supply chain jobs are already being phased out.&nbsp;Also Read: <a href="https://www.wionews.com/trending/-played-30-sec-ads-but-no-video-netizens-share-hilarious-memes-as-youtube-faces-global-outage-1760606177127">'Played 30-sec ads but no video': Netizens share hilarious memes as YouTube faces global outage</a><h2>Why is Nestle laying off its employees?</h2>Navratil also disclosed that Nestle aims to raise its cost-saving target to three billion Swiss francs by 2027, up from the previous 2.5 billion. Jean-Philippe Bertshy, an analyst at Vontobel investment firm, noted that Navratil’s early actions indicate a proactive approach, and the initial steps appear promising. The company, which owns more than 2,000 products including KitKat, Maggi, and Purina, faced a rocky September. This included the abrupt departure of its former CEO over an office scandal, as well as the early resignation of its chairman. A bottled water controversy in France in 2024 added to the turbulence.<h3>Financial outlook</h3>Analysts are hopeful that Navratil’s leadership will bring much-needed stability to the company, which has faced sluggish growth since 2022. The slight dip in total sales was partly driven by currency fluctuations, but the company reported a 3.3% growth in organic sales for the first nine months of 2025, largely driven by price hikes.&nbsp;Navratil said, “Results are showing improvement, but we must accelerate our growth efforts moving forward.” Coffee and confectionery were the primary drivers of the company's organic sales growth, with some markets seeing double-digit price increases. Patrik Schwendimann, an analyst at Zurich Cantonal Bank, said that Nestle’s volume growth in the third quarter far exceeded analysts’ expectations, with volumes rising 1.5% from July to September, compared to a forecasted 0.3% increase.

Nestle plans to cut 16,000 jobs globally, part of a broader restructuring under new CEO Philipp Navratil to boost growth, reduce costs, and improve efficiency

Nestle, the Swiss multinational known for brands like Nespresso and Perrier, announced on Thursday (October 16) that it would layoff 16,000 jobs globally over the next two years, a move that significantly boosted its share price. Philipp Navratil, who assumed the CEO role in September, said that the company needs to adapt more swiftly to a changing global market. He described the job reductions as tough but essential for the company’s future. Shares of the company surged by over 8% in early trading, which also helped push Zurich’s stock market to the top of Europe’s performance charts. Nestle's announcement came with the release of its financial results for the first nine months of the year, revealing a slight 1.9% drop in sales, totaling 65.9 billion Swiss francs ($83 billion). The planned layoffs will affect about 6% of Nestle’s workforce, with 12,000 office-based positions being cut to help the company save one billion Swiss francs, a target now set to double from prior estimates. Additionally, 4,000 production and supply chain jobs are already being phased out. Also Read: 'Played 30-sec ads but no video': Netizens share hilarious memes as YouTube faces global outage Why is Nestle laying off its employees? Navratil also disclosed that Nestle aims to raise its cost-saving target to three billion Swiss francs by 2027, up from the previous 2.5 billion. Jean-Philippe Bertshy, an analyst at Vontobel investment firm, noted that Navratil’s early actions indicate a proactive approach, and the initial steps appear promising. The company, which owns more than 2,000 products including KitKat, Maggi, and Purina, faced a rocky September. This included the abrupt departure of its former CEO over an office scandal, as well as the early resignation of its chairman. A bottled water controversy in France in 2024 added to the turbulence. Financial outlook Analysts are hopeful that Navratil’s leadership will bring much-needed stability to the company, which has faced sluggish growth since 2022. The slight dip in total sales was partly driven by currency fluctuations, but the company reported a 3.3% growth in organic sales for the first nine months of 2025, largely driven by price hikes. Navratil said, “Results are showing improvement, but we must accelerate our growth efforts moving forward.” Coffee and confectionery were the primary drivers of the company's organic sales growth, with some markets seeing double-digit price increases. Patrik Schwendimann, an analyst at Zurich Cantonal Bank, said that Nestle’s volume growth in the third quarter far exceeded analysts’ expectations, with volumes rising 1.5% from July to September, compared to a forecasted 0.3% increase.

Nestle plans to cut 16,000 jobs globally, part of a broader restructuring under new CEO Philipp Navratil to boost growth, reduce costs, and improve efficiency

Nestle layoffs 2025: FMCG firm to cut 16,000 jobs over next two years as new CEO pushes for restructuring; company's share price soars