Sunday, August 16
Social media platform X was down for thousands of users globally on Tuesday, according to Downdetector.com.There were more than 22,900 reports of issues with the platform in the US as of 9:19 am ET, according to Downdetector, which tracks outages by collating status reports from a number of sources.X was also down for more than 7,000 users in the UK as of 9:20 a.m. ET, and for more than 2,700 users in Canada.X did not immediately respond to a Reuters request for comment.The actual number of affected users may differ from what is shown on Downdetector because these reports are user-submitted.
Mumbai, The RBI on Tuesday proposed resumption of issuance of licences for Urban Cooperative Banks (BKS) after more than two decades, subject to various regulatory requirements, including a minimum capital threshold of Rs 300 crore. Since 2004, licensing for Urban Co-operative Banks (UCBs) has been paused by the Reserve Bank of India (RBI) as it found that a large number of the newly licensed ones became financially unsound within a short period. In October last year, Reserve Bank Governor Sanjay Malhotra had announced that considering the positive developments in the sector during the last two decades and in response to the growing demand from the stakeholders, RBI would publish a discussion paper on licensing of new UCBs. On Tuesday, the RBI issued a discussion paper on 'Licensing of Urb
The dollar held to its losses on Tuesday after the Trump administration opened a criminal investigation into Federal Reserve Chair Jerome Powell, a move that threatens the central bank's independence and faith in U.S. assets. Investors were still trying to come to grips with news of the probe revealed late on Sunday, a move that drew condemnation from former Fed chiefs and marked a dramatic escalation in the U.S. president's campaign to pressure the central bank into cutting rates faster. The market reaction has been to sell the dollar and U.S. Treasuries, while the unease also prompted some investors to seek safety in gold. However, the selloff was much more measured than the one that followed Trump's sweeping tariffs last April. "The episode was mild, with losses in both USD
