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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 -
      1 March
      178

      Citigroup transfers $81 trillion to customer’s account instead of only $280

      The error was missed by two employees but was spotted by a third employee after 90 minutes. ‘No funds left Citi’ Hyderabad: Citigroup Inc erroneously credited $81 trillion to a customer’s account instead of $280 last April, according to the Financial Times. The bank, however, reversed the transaction hours later. The error was missed by two employees but was spotted by a third employee 90 minutes after it was posted, the report said. “The payment was reversed several hours later. No funds left Citi, which disclosed the near miss to the Federal Reserve and Office of the Comptroller of the Currency,” the report stated. “The bank said its detective controls promptly identified the inputting error between two Citi ledger accounts and…

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    • 1 March
      203

      Samsung unveils Galaxy M16 5G and Galaxy M06 5G in India with powerful features

      The Galaxy M16 5G features a 6.7-inch Full HD+ Super AMOLED display with adaptive high brightness, making it ideal for outdoor use. The Galaxy M06 5G, with a 6.7-inch HD+ display, ensures a smooth social media browsing experience. Hyderabad: Samsung has launched two new smartphones, the Galaxy M16 5G and Galaxy M06 5G, in India. These latest additions to the popular Galaxy M series come with refreshed designs, powerful performance, and advanced connectivity, targeting Gen Z and millennial users. Advanced Display & Stylish DesignThe Galaxy M16 5G features a 6.7-inch Full HD+ Super AMOLED display with adaptive high brightness, making it ideal for outdoor use. The Galaxy M06 5G, with a 6.7-inch HD+ display, ensures a smooth social media browsing experience.…

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    • 1 March
      209

      Over 50 per cent of total data traffic burden shouldered by Ericsson-Jio network during Maha Kumbh

      The unprecedented voice and data traffic demand during the event was met with pro-active planning, says Ericsson New Delhi: Reliance Jio’s network handled 20 million voice and 400 million data service requests successfully on peak day at Mahakumbh in Prayagraj, according to a statement. In preparation of the high density of visitors expected during the Maha Kumbh Mela, Ericsson and Jio collaborated to implement strategic solutions across the Jio True 5G SA network using SA features such as network slicing, carrier aggregation using 700 MHz band and VoNR, Ericsson said in a statement. “The Jio True 5G Standalone (SA) network delivered exceptional customer experience amidst record-breaking participation at Maha Kumbh 2025,” Ericsson said. Millions of visitors shared images and videos of…

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    • 1 March
      231

      Editorial: Health insurance companies penalising the suffering

      Health insurance companies’ proposal to up premiums by 10-15%, ostensibly due to a surge in claims in New Delhi, will set a dangerous precedent As if the burden of living in the world’s worst polluted city is not enough, the residents of the national capital are in for another shock. Health insurance companies have proposed to increase the premiums by 10% to 15%, ostensibly due to a surge in claims in New Delhi, largely linked to diseases caused by severe air pollution. If approved, this move will penalise the people already suffering from toxic air while setting a dangerous precedent for the future of health insurance in the country. Insurers argue that a massive spike in pollution-related claims, particularly for respiratory and cardiovascular illnesses, necessitates…

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    • Feb- 2025 -
      28 February
      289

      Boss Wallah acquires ffreedom app to build a platform for Bharat entrepreneurs 

      Boss Wallah expects to provide a comprehensive platform that will enable thousands of entrepreneurs to acquire the skills and get the advice they need to start and grow a business Hyderabad: Boss Wallah, an entity founded by investor and serial entrepreneur Sashi Reddi, has entered into a formal agreement with Suvision Holdings Private Limited to acquire its edtech platform ffreedom app. With an initial investment of $7 million (around Rs 60 crore) from Sashi Reddi and associates, Boss Wallah expects to provide a comprehensive platform that will enable thousands of entrepreneurs to acquire the skills and get the advice they need to start and grow a business. The initial focus of the platform is in a dozen categories, including digital businesses, home-based businesses, small scale manufacturing, handicrafts, farming, animal husbandry, retail, and food businesses. These are the kinds of businesses which can be built without…

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    • 28 February
      234

      Know what’s ahead for moon…

      A private company has launched a lunar lander aiming to get closer to the moon’s south pole with a drone that will hop into a jet-black crater that never sees the sun Cape Canaveral: A private company launched another lunar lander on Wednesday, aiming to get closer to the moon’s south pole this time with a drone that will hop into a jet-black crater that never sees the sun. Intuitive Machines’ lander, named Athena, caught a lift with SpaceX from NASA’s Kennedy Space Center. It’s taking a fast track to the moon — with a landing on March 6 — while hoping to avoid the fate of its predecessor, which tipped over at touchdown. Never before have so many spacecraft angled for the moon’s surface all at once. Last month, US and Japanese companies shared…

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    • 28 February
      231

      Markets turned volatile despite opening on positive note

      Foreign fund outflows, monthly derivatives expiry and weak global market cues pulls down Sensex and Nifty Mumbai: Equity benchmark indices Sensex and Nifty began the trade on a positive note on Thursday but later faced volatile trends amid unabated foreign fund outflows, monthly derivatives expiry and weak global market cues. The 30-share BSE benchmark Sensex climbed 231.97 points to 74,834.09 in early trade. The NSE Nifty went up by 65.75 points to 22,613.30. Later, the indices faced volatile trends and were trading between highs and lows. From the Sensex pack, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Axis Bank, Nestle and Tata Steel were the biggest gainers. UltraTech Cement, Mahindra & Mahindra, NTPC, HCL Tech, Tech Mahindra and Tata Motors were among…

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    • 28 February
      218

      6 in 10 Indian employers to deploy AI to improve reward systems

      According to the report by EY India, employers are increasingly turning to AI to streamline processes like salary bench-marking, real-time pay equity analysis, and creating customisable employee benefits Mumbai: Six out of 10 employers in India are looking to explore the potential of artificial intelligence (AI) to improve employee reward systems in the coming three years, a new report said on Thursday. This comes as businesses face a rapidly evolving job market, driven by technological advancements and shifting employee expectations. According to the report by EY India, the biggest change is the growing role of AI in shaping employee compensation. Employers are increasingly turning to AI to streamline processes like salary bench-marking, real-time pay equity analysis, and creating customisable employee benefits.…

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    • 28 February
      220

      Revenue Secretary Tuhin Kanta Pandey appointed as SEBI chairman

      Pandey will replace Madhabi Puri Buch, who completes her three-year tenure on February 28 New Delhi: The government on Thursday appointed Finance and Revenue Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey would replace Madhabi Puri Buch, who completes her three-year tenure on Friday (February 28). The Appointments Committee of the Cabinet has approved the appointment of Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of SEBI chairman, according to a government order issued late in the evening. Pandey’s appointment is initially for a period of three years from the day he assumes charge, the order said.

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    • 27 February
      214

      Zydus launches vaccine for new strain of influenza virus

      A quadrivalent vaccine, by covering strains of both influenza A and influenza B, provides a broader protection and significantly reduces the risk of vaccine mismatch New Delhi: Zydus Lifesciences on Wednesday said it is introducing a vaccine for protection against new strain of influenza virus. The company is introducing country’s first flu protection quadrivalent influenza virus vaccine as per WHO recommended composition, the Ahmedabad-based drug major said in a statement. Zydus’s Quadrivalent Inactivated Influenza vaccine VaxiFlu-4 will offer seasonal protection against four new virus strains, it added. A quadrivalent vaccine, by covering strains of both influenza A and influenza B, provides a broader protection and significantly reduces the risk of vaccine mismatch, it said. The vaccine has been cleared by the Central…

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