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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 -
      11 March
      202

      Ola stocks tumble on reports of raids, regulatory issues

      Since the beginning of 2025, Ola Electric’s stock has declined by 36 per cent and currently trades over 60 per cent below its peak since its listing in August New Delhi: Shares of EV company Ola Electric on Monday fell by nearly 4 per cent, following reports of raids, vehicle seizures, and showroom closures linked to the company. Reports suggested that the electric two-wheeler manufacturer is facing regulatory issues and has received warning letters from the government for allegedly violating rules under India’s Motor Vehicles Act. Due to customer complaints, transport authorities in multiple States have reportedly conducted raids, shut down showrooms, and seized vehicles. The company has also received show-cause notices regarding these alleged violations, the report added. However, an…

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    • 11 March
      228

      Delhi-bound AI flight returned to Chicago as lavatories were clogged

      On March 6, AI126 from Chicago to Delhi returned to the US city after being airborne for more than 10 hours as the crew found polythene bags, rags, and clothes stuck in the plumbing which led the lavatories to become unserviceable, AI said in a statement New Delhi: Days after its Delhi-bound aircraft returned to Chicago due to unserviceable lavatories, Air India on Monday said its probe found that polythene bags, rags, and clothes had been flushed down and were stuck in the plumbing. On March 6, AI126 from Chicago to Delhi returned to the US city after being airborne for more than 10 hours and on that day, the airline said the air return was due to a technical issue. The same…

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    • 10 March
      327

      Iraq fears power cuts as US ends sanctions waiver for electricity purchases from Iran

      The US embassy statement asserted that electricity imports from Iran were only 4 per cent of electricity consumption in Iraq Baghdad: The United States has declined to renew a waiver that had allowed Iraq to buy electricity from Iran without running afoul of sanctions, a US official said Sunday. The previous waiver expired Saturday and the US Department of State did not renew it, the US embassy in Baghdad said in a statement. The decision came as part of President Donald Trump’s “maximum pressure campaign” on Iran, which is “designed to end Iran’s nuclear threat, curtail its ballistic missile programme and stop it from supporting terrorist groups,” the statement said. “We urge the Iraqi government to eliminate its dependence on Iranian…

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    • 10 March
      378

      Goods and Services Tax rates to be reduced further: FM Nirmala Sitharaman

      FM Sitharaman mentioned that the revenue neutral rate (RNR), which was 15.8 per cent when GST was introduced in July 2017, has now come down to 11.4 per cent in 2023 and will decrease further New Delhi: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion. FM Sitharaman mentioned that the revenue neutral rate (RNR), which was 15.8 per cent when GST was introduced in July 2017, has now come down to 11.4 per cent in 2023 and will decrease further. Speaking at a media event in the national capital, FM Sitharaman said that the work on simplifying GST slabs is almost…

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    • 9 March
      269

      GST rates will come down further: Sitharaman

      Responding to a question at ‘The Economic Times Awards’ on whether it is time to rationalise GST rates and slabs, Sitharaman said “that work has almost reached a finale”. Mumbai: Finance Minister Nirmala Sitharaman on Saturday said the GST rates will come down further and the work on rationalising tax rates and slabs has “almost reached a finale”. She said that the revenue neutral rate (RNR) has come down from 15.8 per cent at the time of the launch of GST on July 1, 2017, to 11.4 per cent in 2023. “It will come down even further down,” the minister added. The GST Council, headed by Sitharaman and comprising her state counterparts, in September 2021, set up a group of ministers…

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    • 9 March
      271

      India lifts export ban on broken rice

      Though there was a ban on exports, the government allowed the shipments to friendly and needy countries on a request basis. New Delhi: The government has lifted the export ban on broken rice to promote its shipments. The ban was imposed in September 2022. “Export policy of broken rice has been amended from prohibited to free with immediate effect,” the Directorate General of Foreign Trade has said in a notification. Exporters have earlier urged the government to permit the shipments due to the rise in inventories. Last year, the government removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice and withdrew a blanket ban on the shipments of this variety. These measures…

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    • 9 March
      268

      Fresh trouble for SpiceJet as 3 aircraft lessors, former pilot file insolvency pleas

      Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling USD 12.68 million New Delhi: SpiceJet is facing fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults. Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling USD 12.68 million (about Rs 110 crore). SpiceJet, during the proceedings of the National Company Law Tribunal, earlier this week, sought some time to resolve the matter as settlement talks were going on. “Counsel…

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    • 8 March
      296

      100 per cent tariffs consistent with WTO norms: Nirmala Sitharaman

      When you are at a stage of development when your own industry has to grow, you will tend to make sure that, as per the WTO norms, whatever is the trade tariff which you can levy… you will levy, says Union Finance Minister Visakhapatnam: The trade tariffs running up to 100 per cent, consistent with the World Trade Organisation norms, are levied for national development and the growth of domestic industry, said Union Finance Minister Nirmala Sitharaman. Reacting to a query in defence of 100 per cent trade tariffs on some US imports, the Finance Minister said that tariffs are legitimate instruments. “So, when you are at a stage of development when your own industry has to grow, you will tend to make…

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    • 8 March
      290

      Sebi board members will have to reveal conflict of interest, says Chairman Tuhin Kanta Pandey

      US-based short seller Hindenberg had made allegations against Pandey’s predecessor Madhabi Puri Buch circling around potential conflicts of interest based on whistleblower documents Mumbai: Capital markets regulator Sebi’s new Chairman Tuhin Kanta Pandey on Friday promised to come out with a framework where Sebi board members will have to reveal conflict of interest to the public. Addressing his maiden public event, Pandey, who took charge as the Sebi chairman on March 1, said this is essential from the point of view of transparency and added that such moves will help the regulator gain the trust of the ecosystem. It can be noted that last year, US-based short seller Hindenberg had made specific allegations against Pandey’s predecessor Madhabi Puri Buch circling around potential conflicts of…

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    • 8 March
      257

      Indian tech startup ecosystem now ranks second, after US

      India is home to over 7,000 active women-led startups, accounting for 7.5 per cent of all active startups in the country. Bengaluru: The Indian tech startup ecosystem now ranks second, after the US, in terms of all-time funding raised by companies with women founders, with a total of $26 billion in this space to date, a report showed on Friday. India is home to over 7,000 active women-led startups, accounting for 7.5 per cent of all active startups in the country. These startups have collectively raised $26.4 billion in funding, with 2021 being the highest funded year at $6.3 billion, according to data by Tracxn, a leading startup research and analytics firm. Bengaluru leads in both the number of women-led startups…

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