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    BUSINESS

    HDFC Bank gets RBI approval to raise stake in IndusInd Bank to 9.5 per cent

    HDFC Bank has received RBI approval to raise its stake in IndusInd Bank up to 9.5 per cent. The clearance is subject to compliance with banking, securities and foreign exchange regulations, and bars board representation New Delhi: HDFC Bank has got the Reserve Bank’s nod to hike its stake in another private sector lender, IndusInd Bank, up to 9.5 per cent. “We would like to inform you that the Reserve Bank of India (RBI) vide its letter dated December 15, 2025, has accorded its approval to HDFC Bank (applicant) to acquire ‘aggregate holding’ of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank,” IndusInd Bank said in a regulatory filing. The RBI approval has been granted with reference to the application made by HDFC Bank, it said. “The approval granted by RBI is subject to compliance with the relevant provisions of the Banking Regulation…
    BUSINESS

    Unemployment rate falls to seven-month low of 4.7 per cent in November

    India’s unemployment rate fell to a seven-month low of 4.7 per cent in November 2025, driven by stronger rural employment and rising female participation, signalling improving labour market conditions despite urban joblessness remaining higher New Delhi: Unemployment Rate (UR) for persons aged 15 years and above declined to a record low of 4.7 per cent in November 2025, compared to 5.2 per cent in the previous month of October 2025. The UR among persons aged 15 and above decreased to 4.7 per cent in November 2025, the lowest level since April 2025, according to the Ministry of Statistics and Programme Implementation (MoSPI). The Ministry further stated that in November 2025, the rural UR fell to a new low of 3.9 per cent, while the urban UR decreased to 6.5 per cent, matching its previous lowest level recorded in April 2025. The joblessness rate was 5.1 per cent in April 2025. According…
    BUSINESS

    India seeks WTO consultations with EU over ferro-alloy import curbs

    India has sought consultations with the European Union at the WTO over safeguard measures imposing import quotas on certain ferro-alloy elements. New Delhi said the curbs would impact Indian exports, even as India and the EU negotiate a free trade agreement New Delhi: India has sought consultations with the European Union under the World Trade Organisation’s (WTO) safeguard agreement over the EU’s decision to impose import quotas on certain ferro-alloy elements, used in the iron and steel industry. According to a communication circulated by the World Trade Organisation (WTO), India has a major trade interest in the export of these elements. The imposition of duties under the safeguard measures over a certain quota will impact exports of these items from India to the EU. The measures will be in place for three years. “As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with the…
    BUSINESS

    Stock markets decline in early trade dragged by foreign fund outflows, weak global trends

    Indian equities opened lower as Sensex and Nifty fell amid persistent foreign fund outflows, weak global cues and risk-off sentiment. Asian and US markets declined, while select stocks gained. FIIs sold, DIIs supported, limiting deeper downside during early Tuesday trade Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Tuesday as persistent foreign fund outflows and weak global market trends dented investors’ sentiment. The 30-share BSE Sensex declined 363.92 points to 84,849.44 during initial trade. The 50-share NSE Nifty dropped 106.65 points to 25,920.65. From the Sensex firms, Eternal, Axis Bank, HCL Tech, Infosys, Tata Steel, and Bharat Electronics were among the major laggards. However, Bharti Airtel, Asian Paints, Tata Motors Passenger Vehicles, and Titan were among the gainers. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index quoted lower. US markets ended in negative territory on Monday.…
    BUSINESS

    With $600 bn net worth, Musk moves closer to becoming world’s first trillionaire

    Elon Musk has become the first person to cross a $600 billion net worth, driven by rising valuations of SpaceX, Tesla and xAI. The billionaire is now widely seen as moving towards becoming the world’s first trillionaire. New Delhi: Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports. With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion, according to reports. Musk is now the first person ever worth $600 billion or more, reports Forbes. SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion. Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options. Moreover, Musk’s xAI Holdings is reportedly in talks to raise new…
    BUSINESS

    Equity markets decline in early trade dragged by services, realty stocks, FII outflows

    Sensex and Nifty fell in early trade due to losses in services and  realty stocks and continued FII outflows. Despite strong economic indicators and expected earnings growth, volatility persists amid rupee depreciation and global cues ahead of key US inflation and Fed meetings Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Monday weighed down by losses in services and realty stocks and sustained foreign fund outflows. The 30-share BSE Sensex dropped 316.52 points, or 0.37 per cent, to 85,395.85 in the morning trade. The 50-share NSE Nifty declined by 106.70 points, or 0.41 per cent, to 26,079.75. From the Sensex firms, Bajaj Finance, Bharat Electronics Ltd, Axis Bank, Bajaj Finserv, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra, NTPC, ICICI Bank, PowerGrid, Hindustan Unilever and Larsen & Toubro were the laggards. However, Tech Mahindra, Infosys, Eternal, Reliance Industries, Tata Motors Passenger Vehicles, Tata Consultancy Services, Trent, HCL Technologies and…
    BUSINESS

    Rupee falls 16 paise to 90.11 against US dollar in early trade

    The rupee weakened to 90.11 per US dollar amid high crude prices and persistent FPI outflows. Strong corporate dollar demand, RBI’s recent rate cut impact, and anticipation of the Fed’s policy decision added pressure, while India–US trade talks begin December 10 Mumbai: The rupee depreciated 16 paise to 90.11 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and persistent foreign fund outflows. Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee. At the interbank foreign exchange, the rupee opened at 90.07 against the US dollar then dropped to 90.11, down 16 paise from its previous close. On Friday, the rupee settled at 89.95 against the US dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months. Forex traders said investors’ focus has now shifted to the Fed’s…
    BUSINESS

    UIDAI to mandate registration for Aadhaar offline verification entities

    UIDAI is set to notify a new rule requiring hotels, event organisers and other entities conducting Aadhaar-based offline verification to register for access to QR code and app-based authentication. The upcoming app aims to enhance privacy, reduce paper use and streamline verification. New Delhi: A new rule to discourage entities like hotels, event organisers, etc, from taking photocopy of Aadhaar cards of customers and storing them in physical form will be published soon, a senior government official said. Such practices are in contravention of the present Aadhaar Act.The Unique Identification Authority of India (UIDAI) CEO Bhuvnesh Kumar told PTI that the authority has approved a new rule mandating registration of entities that seek Aadhaar-based verification like hotels, event organisers, etc, to provide them access to a new technology that will enable them to verify an individual by scanning QR code or connecting with new Aadhaar app in the works, the top…
    BUSINESS

    Coking coal imports rise in Oct on winter restocking, general coal shipments decline

    In October, overall coal imports fell 3.9% due to surplus domestic supply, while coking coal imports rose 12% driven by winter restocking. Government initiatives like the Coking Coal Mission aim to boost domestic production and reduce reliance on imports New Delhi: Coal imports in October saw a mixed trend with general coal shipments declining while coking coal imports rose. The fall in overall coal imports was on account of availability of surplus coal in the domestic market. Coking coal shipments increased 12 per cent to 5.04 million tonnes (MT) during the month over 4.50 MT a year earlier, driven primarily by winter restocking activities by steel mills. Coking coal is a critical raw material used in steel production. Overall coal imports in October dropped 3.9 per cent to 20.97 MT over 21.84 MT in the year-ago period, according to B2B e-commerce platform mjunction services ltd. According to industry experts, steel manufacturers…
    BUSINESS

    Mcap of five of top-10 most-valued firms surges Rs 72,285 cr; TCS, Infosys biggest winners

    Five of India’s top-10 most valued firms, led by TCS and Infosys, added over ₹72,284 crore in market value last week, while Reliance, HDFC Bank, SBI, L&T and LIC saw declines. TCS gained the most, adding nearly Rs 36,000 crore New Delhi: The combined market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. While Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance were the gainers, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced erosion from their valuation. Last week, the BSE benchmark eked out a marginal gain of 5.7 points, while the NSE Nifty dipped 16.5 points. TCS added Rs 35,909.52 crore, taking its market valuation to Rs 11,71,862.37 crore. The market capitalisation (mcap) of Infosys jumped Rs 23,404.55…

    BUSINESS

    • Mar- 2025 -
      12 March
      195

      India to become world’s largest Web3 developer hub by 2028: Report

      The latest “India Web3 Landscape” report by Hashed Emergent showed that the country recorded the highest year-on-year (YoY) growth in developer participation in 2024, adding more than 4.7 million developers to GitHub Bengaluru: India is rapidly emerging as a global leader in the Web3 space and is expected to become the world’s largest Web3 developer hub by 2028, according to a report on Tuesday. The latest “India Web3 Landscape” report by Hashed Emergent showed that the country recorded the highest year-on-year (YoY) growth in developer participation in 2024, adding more than 4.7 million developers to GitHub. This accounts for 17 per cent of all new Web3 developers globally, making India the second-largest crypto developer base in the world. The report states…

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    • 12 March
      235

      RBI to issue Rs 100, Rs 200 notes bearing Governor Sanjay Malhotra’s signature

      The design of these notes is similar in all respects to Rs 100 and Rs 200 banknotes in Mahatma Gandhi (New) Series, RBI said in a statement Mumbai: The Reserve Bank of India on Tuesday said it will shortly issue banknotes of Rs 100 and Rs 200 denominations bearing the signature of Governor Sanjay Malhotra. “The design of these notes is similar in all respects to Rs 100 and Rs 200 banknotes in Mahatma Gandhi (New) Series,” it said in a statement. All banknotes in the denomination of Rs 100 and Rs 200 issued by the Reserve Bank in the past will continue to be legal tender. Malhotra took over as RBI Governor in December 2024 replacing Shaktikanta Das who demitted office after completion of…

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    • 12 March
      186

      IndusInd Bank’s Rs 2,100 cr accounting lapse: CEO says lender has enough reserves to cover for it

      I think RBI is uncomfortable with my leadership skills of running the bank and we have to respect that, says bank CEO New Delhi: IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100-crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management’s assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and Managing Director Sumant Kathpalia said the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week. The final number will be known after the external agency, which the bank has appointed, finalises its report…

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    • 12 March
      246

      Opinion: Cold War in AI era

      At the heart of the conflict is the battle to control the design and manufacturing of semiconductors By Stevenson Jacob, Dr Karamala Areesh Kumar The rising chip war between the US and China has become one of the top global concerns in recent times. The race for supremacy in semiconductor production has become the main focus in an increasingly tech-driven and turbulent world. The rivalry between the two world powers isn’t just about economics or technology but also about who will shape the future. It is a battle with high stakes, whose outcomes could reshape global equations and the balance of power for decades. At the heart of this conflict is the battle to control the production of semiconductors, which…

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    • 12 March
      188

      Editorial: India-Mauritius, unwavering bond of friendship

      New Delhi’s strengthening defence cooperation with Port Louis is seen as a strategic move to counter China’s growing influence in the region Mauritius is among the few nations which have retained an unwavering bond of friendship with India at all times. Prime Minister Narendra Modi’s ongoing visit to Port Louis, to participate as a chief guest at the island nation’s Independence Day celebrations, reflects the deep and enduring ties between the two countries. With a new government led by Navinchandra Ramgoolam in power, this visit offers an opportunity to reaffirm and deepen the strategic partnership, ensuring it remains a cornerstone of India’s foreign policy in the Indian Ocean Region (IOR). The two countries have strong maritime security cooperation. Mauritius’ strategic location in…

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    • 12 March
      194

      After Dharavi project, Adani Group wins Rs 36,000 cr redevelopment of Motilal Nagar in Mumbai

      Motilal Nagar I, II & III is one of Mumbai’s biggest housing redevelopment projects, covering 143 acres in western suburb of Goregaon (W) New Delhi: After the Dharavi slum redevelopment project, billionaire Gautam Adani’s group has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar in Mumbai, sources said. Motilal Nagar I, II & III is one of Mumbai’s biggest housing redevelopment projects, covering 143 acres in western suburb of Goregaon (W). Adani Properties Pvt Ltd (APPL) emerged as the highest bidder, offering more built-up area than its nearest rival, L&T, sources aware of the matter said. Letter of Allotment (LoA) will be issued in due course. This will be the second mega redevelopment project of…

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    • 12 March
      157

      Airtel joins hands with Elon Musk’s SpaceX to provide high-speed Starlink internet services in India

      This agreement is subject to SpaceX receiving authorisations to sell Starlink’s satellite communications-based services in India, Airtel said in a statement.   New Delhi: Telecom operator Bharti Airtel on Tuesday said it has partnered with Elon Musk’s SpaceX for providing Starlink‘s high-speed internet services to its customers in India. This agreement is subject to SpaceX receiving authorisations to sell Starlink’s satellite communications-based services in India, Airtel said in a statement. The agreement will enable Airtel and SpaceX to further explore how Starlink could complement and expand Airtel’s offerings, and how Airtel’s expertise in the Indian market could complement SpaceX’s direct offerings to consumers and businesses. Bharti Airtel Managing Director and Vice Chairman Gopal Vittal said that working with SpaceX to offer Starlink services to Airtel customers in India is a significant milestone and further demonstrates company’s commitment to next-generation satellite connectivity. “This collaboration enhances our ability to bring world-class high-speed broadband to even the most remote parts of India, ensuring that every individual, business, and community has…

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    • 11 March
      242

      India can become global hub for submarine telecom cable network

      The country currently hosts around 17 international subsea cables across 14 distinct landing stations located in Mumbai, Chennai, Cochin, Tuticorin and Trivandrum New Delhi: India, which plays a key role in the global submarine cable network, has the potential to further dominate the market due to its strategic geographical location. The country currently hosts around 17 international subsea cables across 14 distinct landing stations located in Mumbai, Chennai, Cochin, Tuticorin and Trivandrum. The total lit capacity and activated capacity of these cables stood at 138.606 terabits per second (Tbps) and 111.111 Tbps, respectively (at the end of 2022). Indian telecom operators involved in submarine cable infrastructure include Tata Communications, which owns five cable landing stations in Mumbai, Chennai, and Cochin; Global…

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    • 11 March
      271

      Opinion: Trump’s reciprocal tariffs and challenges

      The move towards protectionism could lead to a more fragmented and less predictable global trade environment By Vidyasagar Veesamsetty The announcement by US President Donald Trump to impose reciprocal tariffs on imports from India and China has sent ripples across the global economic landscape. This move, set to take effect from April 2, 2025, is not just a trade policy adjustment but a significant geopolitical statement that could have far-reaching implications for India’s economic strategies, the US economy and the future of globalisation. As Hyderabad, a burgeoning hub of technology and manufacturing, watches closely, it is imperative to analyse the implications of this decision on India’s economic well-being, its flagship initiatives like Atmanirbhar Bharat and Make in India, and the…

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    • 11 March
      239

      Zomato is now ‘Eternal’

      The shareholders of Zomato have approved a special resolution to rename the firm ‘Eternal’. The brand name of the company’s food delivery business Zomato will remain the same, along with the app New Delhi: The shareholders of Zomato have approved a special resolution to rename the firm ‘Eternal’, the company informed in a stock exchange filing. The brand name of the company’s food delivery business Zomato will remain the same, along with the app. Eternal will comprise four major businesses (as of now) — Zomato, Blinkit, District, and Hyperpure. The shareholders of Zomato passed a special resolution to approve change of name of the Company and consequent alteration in the Memorandum of Association and Articles of Association of the Company, according to a…

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