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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

    • Feb- 2025 -
      12 February
      206

      Digital Arrest, the con that thrives on fear of law enforcement

      There is no such thing as Digital Arrest in the law. Call 1930 for help, says Reserve Bank of India Hyderabad: A family in Noida was recently duped of over Rs 1 crore after they were kept under ‘digital arrest’ for five days by some unknown people who posed as government officials. This is just the latest in the fast-growing number of digital arrest cases in the country. While for political leaders and business honchos, the CBI and the ED can come calling anytime, and their visits may just be a routine affair, for the common man, this is a scary thing and s/he will do anything to stay out of it. Fear of the police and other law enforcement agencies in India…

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    • 12 February
      212

      Relief to Gautam Adani in US bribery case?

      US President Donald Trump signs order to pause enforcing of 1977 Foreign Corrupt Practices Act that prohibits firms from bribing officials of foreign governments Washington: US President Donald Trump signed an executive order directing the Department of Justice (DoJ) to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business. The President directed US Attorney General Pam Bondi to pause enforcement of FCPA, which was at the heart of some of the US Department of Justice’s most high-profile cases, including…

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    • 11 February
      223

      Stock market trades lower as Trump threatens new tariff on all steel, aluminium imports

      New tariffs are expected to be imposed from Monday (US time), with additional import duties expected later in the week. Mumbai: The domestic benchmark indices opened lower on Monday as US President Donald Trump threatened to start imposing a new 25 percent tariff on all steel and aluminium imports, including those from Canada and Mexico. The new tariffs are expected to be imposed from Monday (US time), with additional import duties expected later in the week. Speaking to reporters aboard Air Force One on Sunday, Trump said he would also announce reciprocal tariffs, which would take effect almost immediately. At 9.30 am, Sensex was trading at 77,575.91, down 284.28 points (0.37 percent) while the Nifty was down 87.95 points (0.37…

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    • 11 February
      244

      PMKSY cold chain scheme cuts wastages in vegetables, dairy, fisheries

      In addition to above, silos of 5.5 LMT capacity at 7 locations have already been constructed and put to in use in 2007-09 under circuit base model. New Delhi: The Integrated Cold Chain and Value Addition Infrastructure Scheme of the Ministry of Food Processing Industries has resulted in a significant reduction in wastages in vegetables, dairy and fisheries sectors, apart from some benefits in other sectors as well, according to a NABARD study. The Ministry of Food Processing Industries (MoFPI) has been implementing Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) since 2016-17 to create post-harvest infrastructure and processing facilities to boost the overall development of the food processing sector including reduction in post-harvest losses, according to information tabled in the Rajya Sabha by…

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    • 11 February
      250

      Rupee rises 5 paise to 87.45 against USD

      On Friday, the rupee recovered 9 paise from its all-time low level to close at 87.50 against the US dollar. Mumbai: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump’s plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China’s reciprocal duties coming into effect, they said. At the interbank foreign exchange, the rupee opened at…

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    • 10 February
      312

      Market Outlook: Delhi polls’ outcome, Q3 earnings, inflation data set to drive D-Street action

      January inflation is projected to drop to 4.69 per cent from 5.22 per cent in the previous month, which could influence RBI’s next policy decision. Mumbai: The market outlook for the next week of February will be guided by key factors like Delhi polls outcome, inflation data and Q3 earnings. The announcement of the Delhi Assembly election results was another significant event as the Bharatiya Janata Party (BJP) secured a strong victory in the Assembly elections, winning 48 out of 70 seats. Analysts believe this win could contribute to positive investor sentiment. Macroeconomic data will be another major focus for investors. Inflation and industrial output data will be released on February 12. January inflation is projected to drop to 4.69…

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    • 10 February
      319

      Meta likely to lay off thousands of employees, says leaked memo

      The memo states that affected employees will receive an email on Monday morning informing them about their job status. New Delhi: Tech giant Meta is expected to lay off around 3,000 employees, which is about 5 percent of its total workforce, as per a leaked internal memo, reports said on Sunday, February 9. According to the report, the memo, posted by Janelle Gale, Meta’s Vice President of Human Resources, was shared on the company’s internal Workplace forum. The memo states that affected employees will receive an email on Monday morning informing them about their job status. For some international employees, the layoff process will begin on Sunday at 2.30 am IST. In the US, employees will be notified at 6.30…

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    • 10 February
      1,482

      Stock market trades lower as Trump threatens new tariff on all steel, aluminium imports

      New tariffs are expected to be imposed from Monday (US time), with additional import duties expected later in the week. Mumbai: The domestic benchmark indices opened lower on Monday as US President Donald Trump threatened to start imposing a new 25 percent tariff on all steel and aluminium imports, including those from Canada and Mexico. The new tariffs are expected to be imposed from Monday (US time), with additional import duties expected later in the week. Speaking to reporters aboard Air Force One on Sunday, Trump said he would also announce reciprocal tariffs, which would take effect almost immediately. At 9.30 am, Sensex was trading at 77,575.91, down 284.28 points (0.37 percent) while the Nifty was down 87.95 points (0.37…

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    • 9 February
      353

      Hyderabad: HYDRAA saves 15 acres of Tukkuguda lake from encroachment

      On complaints from locals on the lake encroachment, HYDRAA officials went there and demolished the boundary walls on Saturday. Hyderabad: The sleuths of Hyderabad Disaster Response Assets Monitoring and Protection Agency (HYDRAA) demolished boundary walls constructed by encroachers at Suram Cheruvu (Suroni Cheruvu) in Tukkuguda municipality of Rangareddy district on Saturday, February 8. Encroachers moved into the lake spread across 60 acres, and occupied 15 acres of land. They built boundary walls in the encroached land, out of which layouts were made to be sold. Drainage pipelines were also laid by the encroachers. On complaints from locals on the lake encroachment, HYDRAA commissioner AV Ranganath inspected the lake and spoke with the residents, after which demolition was ordered by him.

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    • 9 February
      279

      Fiscal, monetary policies are working in tandem to boost economic growth: FM Sitharaman

      FM Sitharaman further said that the basic customs duty (BCD) changes were not a knee-jerk reaction to any global developments and had been in the works for the last two years. New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday said that the government’s monetary and fiscal policies are working in tandem and would further benefit the growing economy with the robust Budget and recent RBI decisions. Addressing the media along with the Reserve Bank of India (RBI) Governor Sanjay Malhotra here, FM Sitharaman said there has been good coordination between the central bank and the government, and no one encroaches on the other. She met the Central Board of Directors of the RBI, along with Union Minister of State for…

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