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AU Small Finance Bank raises FCNR Deposit Rates to 7.10%*, Strengthens End-to-End NRI Banking Proposition

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MUMBAI, India, June 11, 2026 /CNW/ — AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank, has significantly enhanced its Foreign Currency Non-Resident [FCNR (B)] deposit rates, with the peak USD deposit rate increasing from 5.15% p.a. to 7.10%* p.a., effective June 10, 2026. This revision underscores the Bank’s strategic focus on strengthening its NRI franchise amid rising demand for stable foreign currency deposits and diversified funding sources.

FCNR deposits remain a key channel for mobilising overseas Indian savings into India, while offering protection against exchange rate fluctuations.

Available in US Dollars, FCNR deposits offer NRIs a fully repatriable investment avenue with income tax exemption in India on both principal and interest, along with attractive returns on overseas earnings.

Product

Earlier Peak Rate

Revised Peak Rate

FCNR

5.15 %

7.10%*

* Interest on FCNR (B) deposits is paid out semi-annually.

Further strengthening its NRI proposition, AU SFB has also introduced zero forex margin and zero bank charges on eligible inward and outward remittances, placing it among the few private sector banks in India to eliminate embedded forex mark-ups that can typically erode up to 2% of transfer value.

Under this proposition, customers benefit from currency conversion at the Bank’s Interbank Reference Rate (IBR) with no additional transaction charges. This significantly enhances the efficiency of cross-border money movement for NRIs. With a compelling combination of high USD-denominated returns, zero-cost remittances, and seamless servicing, AU SFB is well positioned as a preferred banking partner for NRIs seeking efficient wealth management and savings solutions in India.

https://www.au.bank.in/interest-rates/au-fcnr

About AU Small Finance Bank

AU Small Finance Bank Limited (AU SFB) is a Scheduled Commercial Bank and has established itself as India’s largest Small Finance Bank since commencing its banking operations in April 2017. Founded in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU is entering its 10th year as a Bank.

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SOURCE AU Small Finance Bank

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Taiwan’s Largest EV Charging Operator EVALUE Enters Indonesia, Opens Jakarta Office

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Backed by partnerships with 7-Eleven, Starbucks, Mercedes-Benz and BMW, EVALUE invites Indonesian partners to join its franchise network at INTI 2026, Booth A3-55A

JAKARTA, Indonesia, July 29, 2026 /PRNewswire/ — EVALUE, Taiwan’s largest electric vehicle (EV) charging network operator, today announced the launch of its Jakarta subsidiary, marking its first overseas expansion. The company will also establish a technical service center in Jakarta, bringing Taiwan’s proven charging technology and expertise directly to Indonesia’s fast-growing EV market, as the country accelerates its national EV and green energy transition.

In Taiwan, EVALUE’s charging stations operate at properties run by 7-Eleven, Starbucks, Mercedes-Benz, IKEA, UNIQLO and EVA Air. Its network is also compatible with vehicles from BMW, Lexus, Mercedes-Benz, Mitsubishi, Nissan, Peugeot, Rolls-Royce, Suzuki, Toyota and Volvo, reflecting broad cross-industry trust in its reliability and service quality.

EVALUE currently operates 765 charging stations nationwide, with 2,507 AC and 311 DC connectors. Its proprietary app serves 157,613 members, covering over 98% of all registered EVs in Taiwan. EVALUE independently develops its own charging station systems, backed by advanced, industry-grade cybersecurity protocols that protect user data and payment transactions — giving it full control over quality, technical support, and the secure charging experience it will bring to Indonesian EV owners.

“Taiwan’s market taught us that reliability and strong local partnerships win drivers’ trust,” said Ithen, CEO of EVALUE. “Indonesia has always shown great warmth toward Taiwan, and we want to return that warmth by building something lasting together. Our new Jakarta technical service center will put Taiwan’s charging technology and know-how directly at the service of the local market, just as it has already proven trusted across more than 700 stations and nearly 160,000 members back home.”

EVALUE will showcase its technology and franchise program at INTI 2026 (August 11–13, Booth A3-55A), actively seeking Indonesian partners and investors to enter the EV charging and green energy sector. Partners gain access to EVALUE’s proprietary hardware, software platform, site planning support, and operational expertise — a lower-risk, field-tested path into Indonesia’s green mobility market.

About EVALUE

EVALUE is the EV charging brand of Fortune Electric Value, Taiwan’s largest charging operator, known for self-developed charging systems, a proprietary app, and strong cybersecurity. The company is expanding into Indonesia through its new subsidiary, PT Fortune EVALUE Indonesia, and a Jakarta technical service center.

View original content:https://www.prnewswire.com/apac/news-releases/taiwans-largest-ev-charging-operator-evalue-enters-indonesia-opens-jakarta-office-302832008.html

SOURCE Fortune Electric Value

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PACSUN CELEBRATES NEW DENIM COLLECTION AND BACK-TO-SCHOOL SEASON WITH SOHO FLAGSHIP EXPERIENCE

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The Brand Brought Its “Denim Starts Here” Campaign to Life with a Can’t-Miss Pop-Up at Its New York Store

LOS ANGELES, July 28, 2026 /PRNewswire/ — Pacsun, the purpose-driven specialty fashion retailer rooted in youth culture, brought its “Denim Starts Here” campaign to life with a full day of celebration at its SoHo store in New York City. The consumer event transformed the flagship into an interactive back-to-school experience, giving guests a hands-on way to engage with the campaign built around self-expression and individuality.

Throughout the day, the SoHo store came alive with hands-on moments for guests. At a dedicated denim station, guests could customize their own jeans with embroidery and stitching, turning each pair into a one-of-a-kind expression of personal style, the kind of personal-touch experience that’s become a hallmark of Pacsun’s in-store activations. To keep the energy going, a coffee cart on-site served complimentary specialty beverages, including the Kaia Caramel Latte, named after Pacsun’s viral Kaia Ultimate Low Rise Baggy Jean, and the Denim Cloud Matcha Latte, a nod to the brand’s classic denim aesthetic.

The celebration extended beyond denim, too, built on Pacsun’s belief that the best ideas come from working alongside the brands its community already loves. The day also included a beauty station and branded photo moment courtesy of Ulta Beauty, marking the in-store debut of the Pacsun x Ulta Beauty Collaboration. Guests could also try their luck at a claw machine for the chance to win beauty products.

Just a few blocks away, Leon’s Bagels joined in on the celebration at its Thompson Street location with the exclusive Kaia Bagel, served with blue cream cheese as a nod to the brand’s signature denim hue and inspired by Pacsun’s newest denim style.

“Denim has always been at the heart of who we are, and back-to-school is one of the biggest moments of the year for our community to make it their own,” said Richard Cox, Chief Merchandising Officer at Pacsun. “We wanted this day to be a true celebration of co-creation, bringing together partners we love to meet young people where they’re already gathering. Activations like this give us the opportunity to bring that philosophy to life, creating authentic moments that deepen our connection with customers while celebrating their individuality.”

The SoHo experience brought Pacsun’s “Denim Starts Here” campaign to life, connecting fashion, culture, and community while celebrating customers’ individuality as they head into the back-to-school season. The denim collection is now live in select Pacsun stores and online, giving shoppers everywhere the chance to find their own back-to-school style.

About Pacsun

Pacsun is a purpose-driven, leading specialty retailer offering a cross section of emerging brands and trending fashion through the lens of youth culture. Delivering the latest contemporary, streetwear, and activewear, Pacsun partners with the best brands at the intersection of fashion, music, art, and sport to offer curated collections, rare and exclusive products, and creative collaborations on every level to inspire the next generation. Founded in 1980 in Newport, CA, Pacsun is now co-created in Los Angeles. Follow @pacsun on TikTok, Instagram, X, Facebook, and YouTube.

Press Contact:

Kate Fosha George

kgeorge@pacificsunwear.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/pacsun-celebrates-new-denim-collection-and-back-to-school-season-with-soho-flagship-experience-302837219.html

SOURCE Pacsun

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FETCi Deploys India’s First Operational AI-Powered MLFF Tolling System on NH48, Expands Deployment to NH44

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Taiwan’s proven MLFF ETC expertise helps advance India’s next generation of intelligent highway infrastructure.

NEW DELHI, July 29, 2026 /PRNewswire/ — FETC International (FETCi), a global leader in Multi-Lane Free Flow (MLFF) electronic toll collection (ETC) solutions, today announced the successful deployment of India’s first operational AI-powered MLFF electronic toll collection system at the Choryasi Fee Plaza on NH-48 in Gujarat, followed by a second MLFF deployment at the Gharaunda Toll Plaza on the Panipat–Jalandhar section of NH-44 in Haryana. Delivered in collaboration with ICICI Bank under the supervision of the Indian Highways Management Company Limited (IHMCL), the projects represent a significant milestone in India’s transition toward next-generation, barrier-free toll collection.

India continues to modernize its national highway infrastructure through digital transportation initiatives. Following the nationwide adoption of FASTag electronic toll collection, MLFF technology represents the next stage in the evolution toward fully barrier-free tolling, enabling vehicles to travel through tolling zones without stopping while improving operational efficiency and the overall driving experience.

Drawing on more than a decade of experience operating Taiwan’s nationwide MLFF ETC system, FETCi deployed an integrated tolling platform combining RFID technology, AI-powered vehicle classification (AI AVC), Automatic Number Plate Recognition (ANPR), AI-based axle counting, and transaction validation technologies. Under live traffic conditions, the system achieved contractual performance targets of 99% vehicle detection, 99% ANPR accuracy, and 99% AI-powered vehicle classification accuracy, enabling reliable toll transactions at highway speeds while enhancing traffic throughput, operational efficiency, and revenue assurance.

Taiwan operates one of the world’s most mature nationwide MLFF electronic toll collection systems, processing millions of toll transactions every day. Building upon this extensive operational experience, FETCi has successfully expanded its MLFF expertise to international markets, including Thailand and India, adapting proven technologies to meet local operational requirements.

Deploying MLFF ETC in India required adapting to one of the world’s most complex traffic environments. Unlike more homogeneous highway systems, Indian roads accommodate an exceptionally diverse mix of passenger vehicles, buses, trucks, agricultural vehicles, and other commercial traffic operating under varying driving behaviors. Environmental factors—including dust, heavy rain, extreme temperatures, and inconsistent license plate conditions—further increase the complexity of AI recognition and toll transaction processing. Leveraging deployment experience from Taiwan and Thailand, FETCi localized its AI models and system architecture to address these challenges while maintaining high levels of accuracy and operational reliability.

Since commissioning, the two MLFF sites have processed approximately 101,500 vehicle transactions every day under live operating conditions, including around 41,500 vehicles daily at Choryasi and 60,000 vehicles at Gharaunda. Their successful operation demonstrates the capability of AI-powered barrier-free tolling under real-world traffic conditions and provides an important reference for the future expansion of MLFF across India’s highway network.

By enabling vehicles to maintain highway speeds through tolling zones, MLFF technology reduces congestion at toll plazas while improving traffic flow, supporting freight mobility, reducing fuel consumption and vehicle emissions, and delivering a smoother and more convenient travel experience. As India continues investing in intelligent transportation infrastructure, barrier-free tolling is expected to play an increasingly important role in creating safer, smarter, and more sustainable highways.

“India is entering a new era of digital highway infrastructure,” said Richard Wu, Vice President of FETC International. “The successful deployments on NH-48 and NH-44 demonstrate that AI-powered MLFF technology can perform reliably under India’s highly diverse traffic conditions. Drawing upon Taiwan’s proven nationwide ETC experience, we are proud to contribute our expertise to India’s transportation modernization and look forward to supporting the continued development of intelligent mobility across the region.”

Building on these successful deployments, FETCi will continue working with government agencies, financial institutions, and transportation partners to support the digital transformation of highway infrastructure through AI-enabled tolling, intelligent transportation systems, mobility payment solutions, and other future-ready mobility technologies. The company remains committed to helping build safer, smarter, and more sustainable transportation networks across Asia.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/fetci-deploys-indias-first-operational-ai-powered-mlff-tolling-system-on-nh48-expands-deployment-to-nh44-302837126.html

SOURCE FETC International

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