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Business

India’s Dollar Deposit Scheme Could Generate Rs 5 Lakh Crore Profit for Banks

India’s FCNR (B) deposit scheme mobilized $127 billion in less than three months, potentially earning banks around Rs 5 trillion over five years and Rs 50,000 crore for the RBI, according to SBI Research. The scheme's success has challenged critics who argued it would incur high costs, but the report states the profits outweigh the concerns, with systemic liquidity and hedging costs being manageable.

Bhaskarlive·

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Sports

Australia Adds Sam Harper and Nic Maddinson for 1st Test vs South Africa

Australia has added wicketkeeper-batter Sam Harper and left-handed batter Nic Maddinson to their squad for the opening Test against South Africa in Durban. Josh Inglis was ruled out with a fractured right index finger and will miss the first Test. Maddinson could return to Test cricket after nearly a decade, while Harper impressed recently for Australia A. Cameron Green's fitness remains a concern.

NDTV Cricket··Durban

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Politics

Mohammad Rizwan Seeks Clarity From NCCIA, Agrees to Appear Oct 2

Mohammad Rizwan has requested clarification from the National Cyber Crime Investigation Agency (NCCIA) regarding inconsistencies in the reasons for his investigation. Initially, the inquiry was about betting and gambling in Pakistan cricket, but the latest letter cited the Pakistan Electronic Crimes Act (PECA) 2016 without specifying the exact provision. Rizwan confirmed he will appear before NCCIA on October 2. His legal team stated the betting allegations have damaged his reputation without clear charges.

NDTV Cricket·

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Business

GST Revenue in September Rises 14.7%, Stays Above Rs 2 Lakh Crore

GST revenue collection in September increased by 14.7% year-on-year to Rs 2.04 lakh crore, marking the third consecutive month above the Rs 2 lakh crore mark. Domestic transaction GST rose 10.1% to Rs 1.38 lakh crore, while import GST surged 25.9% to Rs 65,525 crore. Net GST after refunds was Rs 1.76 lakh crore, up 18.1%. Higher import share was driven by global commodity prices, a weaker rupee, and increased raw material imports, according to SBI Research.

Deccan Herald·

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World

Mumbai's Tilak Nagar Awaits Smit Machchhar's Recovery

Residents of Mumbai's Chembur West, especially in Tilak Nagar, admire Smit Machchhar for his composure despite serious injuries. Neighbors eagerly await his recovery and look forward to celebrating with him once he recovers.

The Hindu··Mumbai

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World

Speeding SUV Hits Minor in Assam, Arrests After 40-Km Chase

In Assam's Nagaon, a speeding Scorpio SUV hit a minor and fled, sparking a nearly 40-kilometre police chase. The vehicle was stopped, and two men inside were arrested. Authorities are investigating the collision, the attempted escape, and damage caused to other vehicles and road infrastructure during the incident.

Zee News Hindi··Nagaon

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