The Kerala-based Federal Bank and South Indian Bank showed quarter-on-quarter growth in non-resident deposits inflow, indicating that the lifeline to Kerala remains largely stable despite the Iran war.

Remittances and overseas deposits play a pivotal role in the southern state’s economy.

The rise in flow also reflects a 5.4% rupee depreciation between January and March. A depreciating local currency automatically translates into higher remittances on the same base amount.

ET Bureau

Life as usual so far The state accounts for one-fifth of foreign money sent by Indian diaspora

Indians working abroad deposit their surplus money mostly in non-resident external (NRE) accounts in banks operating here, while they remit money to family members for monthly expenses using online platforms or bank wire transfers. The money deposited in foreign curreny gets converted to rupee in both the cases.

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Federal Bank’s non-resident deposits grew 7% quarter-on-quarter to ₹1.03 lakh crore at the end of March. The fact that the growth rate was more than rupee depreciation suggests that there has been a rise in transaction in foreign currency. The bank also enjoys a substantial market share in inward remittances.
“Remittances, as of now, remain elevated. My sense is that unless you see significant job losses and returning Indians from UAE for good into India, I don’t think this story is likely to change immediately,” Federal Bank managing director KVS Manian told analysts in a post-earning interaction.South Indian Bank reported a 4.2% growth in inbound flows to ₹35,371 crore growth for the same period, largely reflecting the impact of currency depreciation.

These two banks along with State Bank of India hold the first three positions in terms of attracting NRI deposits in Kerala, people aware said.

“We have a large business in the Middle East in the area most impacted by the current crisis. Our view is that in the short run, it will be a positive for us in the sense that people living in those areas may want to transfer money back home so as to protect themselves in the future. So, there will be increased flows,” South Indian Bank managing director PR Seshadri told ET.

Experts however warned that a prolonged West Asia conflict could threaten these inflows in the long run.

“The problem will happen if the issue continues over a longer period and people’s livelihoods in those countries are impacted… Those balances will get drawn down when those individuals come back home,” Seshadri said.

The Reserve Bank of India (RBI) data showed that more than a third of India’s remittances, totalling ₹3.74 lakh crore in 2023-24, came from Gulf countries such as the UAE, Saudi Arabia, Qatar, Kuwait and Oman.

Daniel Marshall
Senior Manager of Communications & Ownership

Good evening. I’m Daniel Marshall, Senior Manager of Communications and Ownership at Ginkgo. I’m joined by Jason Kelly, our Co-Founder and CEO; and Steve Coen, our CFO. Thanks, as always, for joining us. We’re looking forward to updating you on our progress.

As a reminder, during the presentation today, we will be making forward-looking statements, which involve risks and uncertainties. Please refer to our filings with the SEC to learn more about these risks and uncertainties, including our most recent 10-K. Today, in addition to updating you on the quarter results, we’re going to provide insight into how and why we see autonomous labs like Nebula, our autonomous lab, replacing the lab bench, which is where nearly all of biological science is done today. As usual, we’ll end with the Q&A session, and I’ll take questions from analysts, investors and the public. You can submit those questions to us in advance via X. #GinkgoResults or e-mail, investors@ginkgobioworks.com. All right.

Over to you, Jason.

Jason Kelly
Co-Founder, Co-COO, CEO & Director

Thanks, Daniel. We always start with this. Ginkgo’s mission is to make biology easier to engineer. And I mentioned this at the last earnings call, but in 2026, our focus will be on investing to win the category of autonomous labs. And I’m really excited, even since we just spoke a few months ago, this category has really been growing in attention, new companies in Silicon Valley pursuing this, a lot of interest from the AI Frontier labs about the application of AI models in science via autonomous labs. Government talking more about this. So I

BEIJING — A 16-year-old girl plunged to her death at a newly opened adventure park in Sichuan province on Sunday after her safety harness failed during a high-altitude cliff swing ride, prompting an immediate shutdown of the facility and a criminal investigation into staff negligence.

The tragic incident occurred at Malewa Adventure Park, which had been operating for only about 40 days since opening in March 2026. According to eyewitness accounts and preliminary reports, the young tourist from mainland China was pushed off the platform by staff despite alerting them that her safety rope was not securely fastened. Almost immediately after leaving the ledge, the harness appeared to snap or detach, sending her falling over a 200-meter drop where she struck the cliff face multiple times.

She was pronounced dead while being rushed to a local hospital. The case has been preliminarily classified as a work safety liability accident, and local authorities have reached a compensation agreement with the victim’s family. Operators of the park and responsible personnel remain under criminal investigation for suspected negligence.

Details of the Fatal Ride

The cliff swing, a bungee-style attraction offering adrenaline seekers a dramatic free-fall experience high above a mountainous landscape, was one of the park’s flagship activities. Video footage circulating on Chinese social media, later referenced in news reports, showed the girl expressing concern moments before the push. Staff reportedly proceeded anyway, leading to the catastrophic failure.

Safety experts have criticized the apparent lack of double-check protocols and emergency stop mechanisms. The park’s short operational history raises questions about rushed safety certifications and staff training in a country where adventure tourism has boomed post-pandemic but regulatory oversight sometimes lags.

Broader Context of Adventure Tourism Risks in China

This incident is the latest in a series of high-profile accidents at Chinese adventure parks and extreme sports venues. Similar harness failures and equipment malfunctions have occurred in recent years at bungee jumps, zip lines and rope courses, often linked to cost-cutting, inadequate maintenance or insufficient regulation.

China’s adventure tourism sector has grown rapidly as young people seek thrilling experiences, but safety standards vary widely between established operators and newer facilities chasing quick profits. Malewa Adventure Park marketed itself heavily on social media with dramatic footage of its cliff swing, attracting visitors eager for shareable content.

Authorities in Sichuan have ordered an indefinite closure of the park pending a full safety investigation. Provincial tourism regulators announced they would conduct province-wide inspections of similar high-risk attractions.

Public Reaction and Calls for Accountability

News of the tragedy spread quickly on Weibo and Douyin, sparking outrage over perceived negligence. Many commenters questioned how staff could ignore the girl’s warnings and why the equipment failed so dramatically. Hashtags related to adventure park safety trended briefly before being moderated.

Parents and safety advocates called for stricter licensing requirements, mandatory third-party audits and better emergency response protocols at extreme sports venues. Some compared the incident to past tragedies, urging authorities to prioritize lives over tourism revenue.

The victim’s family, while accepting compensation, is reportedly cooperating with investigators. Details about her identity have not been publicly released out of respect for privacy.

Industry Response and Safety Concerns

China’s State Administration for Market Regulation and tourism authorities have previously issued guidelines for adventure activities, but enforcement remains challenging in a vast country with thousands of small operators. Experts recommend that visitors always check recent safety records, insist on visible double-harness systems and avoid parks with short operating histories.

The incident highlights broader tensions between economic development through tourism and public safety. Sichuan, known for its scenic mountains and growing adventure offerings, faces pressure to balance visitor appeal with rigorous oversight.

Lessons and Moving Forward

As the investigation continues, this heartbreaking case serves as a stark reminder of the risks inherent in extreme sports when safety is compromised. Families grieving the loss of a young life have called for systemic changes to prevent similar tragedies.

Adventure park operators nationwide are expected to review protocols in the coming weeks. For thrill-seekers, the message is clear: excitement should never come at the expense of verified safety measures.

The young girl’s death has left a community in mourning and reignited national conversations about accountability in China’s booming leisure industry. While compensation has been arranged, the loss of a 16-year-old with her whole life ahead remains an irreplaceable tragedy that underscores the need for unwavering commitment to safety standards.

Authorities have urged the public to report unsafe attractions, and tourism boards are promoting certified operators with transparent safety records. In the aftermath of this Sichuan cliff swing disaster, one hope remains: that meaningful reforms will emerge so no other family has to endure such preventable pain.

NEW YORK — “Today” co-anchor Savannah Guthrie quietly stepped away from the NBC morning show Wednesday, roughly 90 minutes into the broadcast, prompting immediate speculation that the departure was linked to the still-unsolved abduction of her 84-year-old mother, Nancy Guthrie.

Co-anchor Craig Melvin informed viewers that Guthrie “had to leave a little early,” without providing further details. She did not return for the remainder of the episode. The abrupt exit comes as the high-profile investigation into Nancy Guthrie’s disappearance from her Tucson-area home enters its fourth month with few public breakthroughs.

Nancy Guthrie was last seen Jan. 31, 2026. She was reported missing the following day after missing a virtual church service. Authorities discovered blood on the porch, a propped-open back door and doorbell camera footage showing a masked, armed individual at the front door around 2 a.m. Feb. 1. Her pacemaker lost its phone connection minutes later, suggesting a sudden and forceful removal.

Emotional Toll on Savannah Guthrie

Savannah Guthrie returned to “Today” in early April after a two-month leave to be with family in Arizona. She has spoken candidly about the anguish of not knowing her mother’s fate while balancing her high-profile role. The May 6 departure marks at least the second time this year she has left the set unexpectedly, reigniting concern among viewers and colleagues.

NBC has not commented officially on Wednesday’s incident. Insiders previously revealed the network established a special protocol, including a code phrase, to remove Guthrie immediately if any significant development emerged in her mother’s case. “We would pull her immediately, mid-segment if we had to,” one source familiar with the arrangement told reporters earlier this spring.

Whether Wednesday’s early exit was tied to new information remains unclear. Pima County Sheriff’s Office and the FBI continue describing the case as active, with advanced DNA analysis underway on evidence recovered from the home.

Chilling Theories Emerge in Nancy Guthrie Case

A recent NewsNation special hosted by Brian Entin featured criminal profilers who raised the possibility that the masked suspect seen on camera — dubbed “Porch Guy” — may himself be dead, potentially killed by an accomplice or organizer to eliminate loose ends. Forensic nurse Dr. Ann Burgess and psychologist Dr. Gary Brucato described the operation as planned yet amateurish, consistent with a hired operative later silenced.

No ransom has been paid, and no verified proof of life has surfaced despite unverified notes received by media outlets. Experts note the unusual silence from any kidnappers after initial activity. Some speculate Nancy Guthrie may have known or trusted the perpetrator enough to open the door, though blood evidence points to a struggle.

The case has drawn parallels to other high-profile abductions, with tips investigated including possible sightings in Mexico. The family, including Savannah and her siblings, has offered a $1 million reward and cooperated fully with authorities while being cleared as suspects.

Savannah’s Return and Ongoing Struggle

When Guthrie returned to “Today” on April 6, she told co-host Hoda Kotb it felt “good to be home” but acknowledged the emotional difficulty. She has continued working while staying closely involved in the search, splitting time between New York and Arizona when possible.

Colleagues have praised her resilience. The sudden departures highlight the personal toll of balancing a live national broadcast with a private family crisis. Viewers have flooded social media with messages of support, many expressing hope for a positive resolution.

Investigation Challenges Persist

More than 95 days since Nancy Guthrie vanished, authorities face the reality that time works against resolution in abduction cases. DNA from the scene is undergoing advanced FBI lab processing. Surveillance footage from the neighborhood and surrounding areas continues to be reviewed.

FBI Director Kash Patel has publicly noted early delays in federal involvement, though local officials say coordination has since improved. The affluent Catalina Foothills community remains uneasy, with residents enhancing home security.

Profilers have explored motives ranging from financial gain to possible retribution linked to Savannah’s public profile. The targeted nature — including prior surveillance suggested by additional footage — points away from a random crime.

Public and Media Attention

The case has captivated national audiences, blending a high-profile family with a genuine mystery. True crime enthusiasts and media outlets continue dissecting developments. Savannah Guthrie has asked for privacy while urging anyone with information to contact authorities.

As the search stretches into its fourth month, the family clings to hope. Wednesday’s events on “Today” serve as a visible reminder of the personal stakes behind the headlines for one of television’s most recognizable anchors.

NBC has not announced any schedule changes, and Guthrie is expected to resume her duties soon. For now, the focus remains on Nancy Guthrie — a mother, grandmother and beloved community member whose sudden disappearance has left an enduring void and countless unanswered questions.

Authorities continue to appeal for tips. Even small details from late January or early February in the Tucson area could prove vital. As one profiler noted in the recent special, cases like this can break with a single piece of information — a hope the Guthrie family holds onto daily.

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