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The US national debt has surpassed $37 trillion, exceeding pre-pandemic forecasts due to Covid-19 spending and recent tax cuts. Experts warn that this rapid debt accumulation will lead to higher interest rates, reduced private sector investment, and increased borrowing costs for Americans, urging policymakers to take swift action to address the growing financial strain.
Treasury Secretary Scott Bessent urged the Federal Reserve to initiate interest-rate cuts, advocating for a 1.5 percentage point reduction from the current benchmark. Bessent suggested a 50 basis-point cut in September, believing revise ...more
An RBI panel suggests regulators should be lenient towards initial AI system errors in finance, provided adequate safety measures are in place, to foster innovation. The report emphasizes a framework built on trust, accountability, and ...more
State Bank of India will levy nominal charges on IMPS fund transfers exceeding Rs 25,000 via online channels, effective August 15. These charges range from Rs 2 to Rs 10 based on the transaction amount, with GST applicable. Salary packa ...more
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