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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 -
      4 March
      220

      Xiaomi unveils Xiaomi 15 series at MWC 2025: AI, Leica cameras, cutting-edge tech

      Both devices run on the Snapdragon 8 Elite processor and Xiaomi’s HyperOS 2, built on Android 15. The series comes equipped with AI-driven features for writing, speech recognition, image enhancement, and video recording. Additionally, Xiaomi has collaborated with Google to integrate Gemini AI into its apps, enabling smarter functionality across Notes, Calendar, and Clock. Hyderabad: At the Mobile World Congress (MWC) 2025, Xiaomi made headlines with the launch of its flagship smartphones, the Xiaomi 15 and Xiaomi 15 Ultra. Both, equipped with everything that one can expect from AI-driven features and Leica camera enhancements to high-end hardware, would re-carve the premium smartphone experience. Both smartphones run on Snapdragon 8 Elite processor and Xiaomi’s HyperOS 2 based on Android 15. New in…

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    • 4 March
      213

      FIR: Bombay High Court asks ACB not to act against ex-Sebi chief Madhabi Puri Buch

      A special court had directed ACB to register an FIR against Buch, Bombay Stock Exchange MD Sundararaman Ramamurthy and others for alleged stock market fraud and regulatory violations Mumbai: The Bombay High Court on Monday asked the ACB not to act until March 4 on an order directing it to lodge an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials for alleged stock market fraud and regulatory violations. Buch, Bombay Stock Exchange MD Sundararaman Ramamurthy and the others moved the HC on Monday, seeking to quash the March 1 order passed by a special court here directing the State ACB to register an FIR against them pertaining to certain allegations of fraud committed in 1994 while listing…

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    • 4 March
      364

      Opinion: Union Budget fails to match cities’ growth

      With India’s urbanisation expected to touch 50% by 2050, there is a need to allocate significant portion of resources for scaling up infrastructure By Prof Alok Kumar Mishra, Pavan Kumar Thimmavajjala The middle class has much to be happy about the Union Budget 2025-26. The tax rebates are expected to increase disposable incomes and leave more money in people’s hands. Interestingly, a significant portion of India’s middle class is moving towards cities for better livelihoods. In line with this development, Finance Minister Nirmala Sitharaman, in her Budget speech, stated that urban development was a key agenda for the NDA government. So, are our cities well equipped to accommodate the increased urban migration? The numbers point to a different story. Rapid…

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    • 3 March
      283

      India’s growth becoming more balanced as private consumption’s share in GDP rises 2025: Report

      The mild revision of 10 basis points (bps) in the second advanced estimate to 6.5 per cent takes the expected real GDP growth this fiscal closer to the average of 6.6 per cent seen in the decade pre-pandemic New Delhi: The good news is that India’s growth is becoming more balanced as private consumption’s share in GDP rose in fiscal 2025, according to a Crisil report. The mild revision of 10 basis points (bps) in the second advanced estimate to 6.5 per cent takes the expected real GDP growth this fiscal closer to the average of 6.6 per cent seen in the decade pre-pandemic. ”And this is over a sharp upward revision of 100 bps in the previous year’s growth to…

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    • 2 March
      380

      India rapidly evolving into global tech hub: Jyotiraditya Scindia

      Scindia is expected to represent India at the MWC 2025 — one of the world’s largest and most influential technology and telecommunications events — scheduled from March 3-6, in Spain’s Barcelona New Delhi: India  is rapidly evolving into a global technology hub, and the country’s participation at the Mobile World Congress (MWC) 2025 is vital for accelerating innovation, said Union Minister for Communications Jyotiraditya Scindia on Saturday. Scindia is expected to represent India at the MWC 2025 — one of the world’s largest and most influential technology and telecommunications events — scheduled from March 3-6, in Spain’s Barcelona. The Minister will also unveil the curtain raiser of India Mobile Congress 2025 and inaugurate the ‘Bharat Pavilion’ at the MWC. ”India is…

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    • 2 March
      384

      India is not workforce but “world force”: PM Narendra Modi

      Modi says the world used to look at India as its back office for decades but the country is now emerging as the factory of the world New Delhi: Prime Minister Narendra Modi asserted on Saturday that his “vocal for local” campaign is bearing fruits as Indian products are going global and making their presence felt across the world. Speaking at the NXT conclave where the ‘NewsX World’ channel was launched, Modi said the world used to look at India as its back office for decades but the country is now emerging as the factory of the world. Now, India is not the workforce but a “world force”, the Prime Minister added. Modi said the country is manufacturing semiconductors and aircraft carriers…

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    • 2 March
      413

      India takes major step towards green mobility with demonstration ride of Green Hydrogen bus

      The demonstration was attended by global energy experts and investors who praised India’s commitment to clean energy New Delhi: India took a major step towards green mobility on Saturday with a demonstration ride of a Green Hydrogen-powered bus on the Taj Palace Hotel, Sardar Patel to Bharat Mandapam route. Speaking on the occasion, Umesh Shrivastava, Executive Director of Indian Oil, emphasised the significance of the initiative. “I did not just undertake the journey; I facilitated it, for you, our guests from the US, and everyone here. This is a statement from Indian Oil and the Government that India has arrived with respect to energy transition. We are moving towards green fuels, and Indian Oil has been focussing on hydrogen for the…

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    • 2 March
      444

      Narendra Modi seeks suggestions from agri-stakeholders

      Modi says the government has presented a full budget in the third term, ensuring consistency in policy and reflecting the vision of Viksit Bharat New Delhi: Prime Minister Narendra Modi on Saturday urged stakeholders to suggest ways to make ongoing schemes more effective and implement this year’s budget in a speedy manner on the ground level. Addressing virtually the post-budget webinar on “Agriculture and rural prosperity”, Modi said the government has presented a full budget in the third term, ensuring consistency in policy and reflecting the vision of Viksit Bharat. Modi said before the budget, inputs and suggestions from all stakeholders helped in framing it. “Now this budget needs to be implemented more effectively on the ground,” he said. Agriculture is…

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    • 2 March
      393

      Protests against Elon Musk hit Tesla stores across

      Demonstrators voiced their opposition to Musk’s push for slashing government spending and restructuring federal agencies, particularly under the banner of Trump’s administration US Boston: Across the US, protests erupted outside Tesla dealerships, targeting CEO Elon Musk in response to his controversial actions and his close alignment with President Donald Trump. Demonstrators voiced their opposition to Musk’s push for slashing government spending and restructuring federal agencies, particularly under the banner of Trump’s administration. These protests are part of a broader movement against Musk’s political involvement, which critics argue undermines Congressional authority and benefits his personal business interests. Demonstrators across various cities, including Boston, New York, and Palo Alto, California, gathered in an effort to publicly challenge Musk’s influence over both government spending and policy decisions.…

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    • 1 March
      236

      EPFO retains 8.25% interest rate on employees’ provident fund

      After the government’s ratification, the interest rate on EPF for 2024-25 will be credited into accounts of over seven crore subscribers of EPFO New Delhi: Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees’ provident fund (EPF) deposits for 2024-25, sources said. In February 2024, the Employees’ Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over seven crore subscribers, from 8.5 per cent in 2020-21. The 8.10 per cent rate of interest on EPF for…

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