Bussiness

State Bank of India (SBI) has revised its ATM transaction rules, effective February 1, standardising free transaction limits and simplifying fees for savings account holders. All customers will now get 5 free transactions at SBI ATMs and 10 at other bank ATMs, regardless of location or balance. Post-limit charges apply, with a further increase coming from May 1. The move aims to promote digital banking and streamline customer experience.

India and the United States are engaged in "active and intense" negotiations for a bilateral trade agreement (BTA), according to External Affairs Minister S. Jaishankar. Speaking at an event hosted by the Asia Society, Jaishankar highlighted the strong potential for a trade deal, with the Trump administration showing increased openness to cooperation in key areas like defense, energy, and technology. He acknowledged challenges in balancing tariffs and US subsidies but expressed confidence that Indian negotiators would secure the "best possible deal." Jaishankar also noted the growing willingness of the Trump administration to engage with India, marking a shift towards a stronger and more substantial partnership between the two nations.

India is set to surpass Japan and become the world’s fourth-largest economy by the third quarter of the financial year 2024-25, according to the International Monetary Fund (IMF). With its GDP rising from $2.1 trillion in 2015 to an estimated $4.3 trillion by 2025, India has outpaced several major global economies, including China, the US, and Germany. If the current growth trajectory continues, India may also surpass Germany by 2027. India’s rapid economic expansion highlights its growing influence on the global stage, positioning it for a potential $10 trillion economy by 2032.

Swiggy Instamart is making its mark in the premium electronics segment with the launch of 10-minute smartphone deliveries. Offering popular devices like the iPhone 16e, Samsung M35, and OnePlus Nord CE, the service is available in 10 major cities, including Bengaluru, Delhi, and Mumbai. With a focus on fast, convenient shopping, Instamart aims to redefine the tech-buying experience, offering a wide range of smartphones from top brands. The move marks an expansion of quick commerce beyond groceries, challenging established players like Amazon and Flipkart.

At TiE Con Mumbai 2025, Infosys founder Narayana Murthy criticized the growing trend of artificial intelligence (AI) in India, calling many of the so-called AI programs "silly, old programs." He expressed concern that ordinary software is being marketed as AI simply due to the current AI craze. Murthy explained the core principles of AI, focusing on machine learning and deep learning, and emphasized the potential of deep learning in mimicking human behavior. While acknowledging that technological advancements might eliminate some jobs, Murthy also highlighted that AI could create new opportunities if applied wisely, particularly in sectors like autonomous vehicles and healthcare.