Apple CEO Tim Cook opens India's first Apple store in Mumbai

Apple chief executive officer Tim Cook on Tuesday opened the doors of Apple’s first retail store in India, Apple BKC, in Mumbai's BKC (Bandra Kurla Complex) business district.

The Apple CEO arrived in Mumbai on Monday where he met Reliance Industries chairman Mukesh Ambani and Tata Sons chairman N Chandrasekaran.

Ahead of the launch of the Apple BKC store in Mumbai, Cook said the tech giant is excited to build on its over 25-year history in India. "India has such a beautiful culture and an incredible energy, and we’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity," the Apple CEO said.

Apple BKC is designed to be one of the most energy-efficient Apple Store locations in the world, with a dedicated solar array and zero reliance on fossil fuels for store operations. "The store is operationally carbon neutral, running on 100 percent renewable energy," the tech giant says. It employs more than 100 team members who collectively speak over 20 languages.

Apple will open its second retail store in Delhi's Saket this Thursday.

The opening of the two new Apple stores comes at a time when the iPhone maker's India business "set a quarterly revenue record and grew very strong double digits year-over-year."

Apple offers 4.15% interest on savings account

Apple Card has partnered with Goldman Sachs to launch a savings account, which offers a high-yield Annual Percentage Yield (APY) of 4.15% — a rate that's more than 10 times the U.S. average. With no fees, no minimum deposits, and no minimum balance requirements, users can easily set up and manage their savings account directly from Apple Card in Wallet.

"Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day," said Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet. "Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place."

"Once a Savings account is set up, all future Daily Cash earned by the user will be automatically deposited into the account. The Daily Cash destination can also be changed at any time, and there's no limit on how much Daily Cash users can earn. To build on their savings even further, users can deposit additional funds into their Savings account through a linked bank account, or from their Apple Cash balance," the tech giant said.

Users can also withdraw funds at any time through the Savings dashboard by transferring them to a linked bank account or to their Apple Cash card, with no fees, it added.