Indian IT stocks face pressure from global AI advancements and China’s innovation, triggering sentiment-driven selling. While short-term pain is expected, experts believe the sector’s long-term fundamentals remain strong due to its implementation and customization expertise in cloud and data services.
RBI mandates payment of inward remittances on same business day
The Reserve Bank of India is speeding up money transfers from abroad. Banks must now credit foreign payments to accounts on the same business day.