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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 -
      3 February
      345

      Opinion: Budget neglects agriculture again

      Despite emphasis on agriculture as growth engine, Finance Minister Sitharaman fails to earmark sufficient funds Dr Kedar Vishnu The Economic Survey 2024-25 states that for India to achieve its ambition of becoming Viksit Bharat by 2047 it must sustain an average growth rate of about 8 per cent at constant prices for several decades. For FY25, the National Statistics Office (NSO) projects a 6.4 per cent GDP growth rate, with a 3.8 per cent growth rate expected in the agriculture sector. To achieve our vision of Viksit Bharat, the growth should be mainly driven by agricultural and applied sectors as well as manufacturing. Is the current growth in agriculture and manufacturing sufficient? Agriculture grew by 3.5 per cent in the…

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    • 2 February
      371

      Budget 2025-26: Bihar gets big

      The Centre will create additional infrastructure in five IITs and provide support for enhancing the capacity of IIT Patna New Delhi: Bihar remained in focus in the Union Budget 2025-26 with Finance Minister Nirmala Sitharaman on Saturday making several announcements for the State, including setting up of a Makhana Board, financial support for the western Kosi canal and support for enhancing the capacity of IIT Patna. Bihar, currently ruled by the National Democratic Alliance (NDA), will go to polls later this year. Presenting the Budget in the Lok Sabha, the Finance Minister also announced that the Centre will set up a National Institute of Food Technology, Entrepreneurship, and Management in Bihar, besides facilitating greenfield airports in the state to meet future…

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    • 2 February
      304

      Nil tax for those earning up to Rs 12 lakh annually under new regime

      For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000 New Delhi: Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000. Higher exemptions and rejigs have been effected under the new income tax regime. “I am now happy to announce that there will be no income tax payable up to income of…

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    • 2 February
      284

      Budget 2025-26: Gross tax revenues to grow 11 per cent at Rs 42.70 lakh crore

      Personal income tax is projected at Rs 12.57 lakh crore, while corporate tax is at Rs 9.80 lakh crore in the current fiscal New Delhi: The Budget on Saturday pegged gross tax receipts of Rs 42.70 lakh crore for the next fiscal, an 11 per cent growth over the revised estimates for the current year. The revised estimates for the current fiscal has pegged gross tax revenues at Rs 38.44 lakh crore, higher than Rs 38.40 lakh crore provided in the Budget Estimates (BE). In the current fiscal, income from corporate taxes will lag budget estimates, while that from personal tax is projected to be higher than BE. Personal income tax is projected at Rs 12.57 lakh crore, while corporate tax is at…

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    • 2 February
      317

      Union Budget 2025-26: What’s cheaper, and what’s costlier

      Imported life saving drugs, medicines to cost less ; knitted fabrics, Smart meter turn costlier New Delhi: Imported life saving drugs and medicines used in the treatment of cancer, rare and other severe chronic diseases, along with imported premium cars and motorcycles, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2025-26. However, certain items like interactive flat panel (touch screen) displays imported as fully built units and certain knitted fabrics will become costlier due to increase in basic customs duties. Check out the full list.

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    • 2 February
      355

      Energy transition high on agenda, gets Rs 20,000 cr in Union Budget

      Finance Minister Nirmala Sitharaman announces Nuclear Energy Mission for Viksit Bharat for the development of at least 100 GW of nuclear energy by 2047 New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced a Rs 20,000-crore nuclear mission and duty exemptions for crucial minerals and capital goods for electric vehicles to step up energy transition. Boosting nuclear energy at this time is important as it can replace coal as the base load for the power sector in India. Presenting her eighth straight Budget in the Lok Sabha on Saturday, the Minister announced the Nuclear Energy Mission for Viksit Bharat for the development of at least 100 GW of nuclear energy by 2047. She said that the mission is essential for energy…

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    • 2 February
      282

      People’s Budget, force-multiplier: Prime Minister Modi hails Union Budget 2024-25

      Prime Minister Narendra Modi says Budget will increase investments and lead to growth New Delhi: Prime Minister Narendra Modi on Saturday lauded the Union Budget, presented by Finance Minister Nirmala Sitharaman, as a “people’s budget” that puts more money in the hands of people and said it is a force-multiplier that will increase investments and lead to growth. In televised remarks on the Budget, Modi said the government has opened up many sectors for the youth, who will drive the mission of ‘Viksit Bharat’ (developed India). “This Budget is a force multiplier. This Budget will increase savings, investment, consumption and growth,” the Prime Minister said, congratulating the Finance Minister and her team for presenting a “people’s budget”. He said a Budget…

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    • 1 February
      235

      Ola Electric rolls out Gen 3 scooters, check out the price, features here

      Company launches eight models under S1 brand; share price up 9.78 per cent from its previous close New Delhi: Ola Electric on Friday said it has launched eight scooter models under the S1 brand, developed on its Gen 3 platform, priced between Rs 79,999 and Rs 1,69,999. The company said it will continue to retail its Gen 2 scooters along with the latest Gen 3 S1 scooters. Ola will offer discounts on Gen 2 scooters of up to Rs 35,000, with S1 Pro, S1 X+ (2kWh, 3kWh, and 4kWh) now starting at Rs 1,14,999, Rs 69,999, Rs 79,999 and Rs 89,999, respectively, it added. “With our first generation of scooters we offered customers a truly aspirational electric scooter that kickstarted the…

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    • 1 February
      216

      Government’s Economic Survey expects India to grow at 6.3 to 6.8 per cent for 2025-26

      The Economic Survey expects the government’s emphasis on micro, small, and medium enterprises (MSMEs) and good rabi crop production to accelerate growth and employment in the economy New Delhi: The Economic Survey tabled by Finance Minister Nirmala Sitharaman in Parliament on Friday pegs India’s real GDP growth in 2025-26 between 6.3 and 6.8 per cent, “keeping in mind the upsides and downsides to growth”. The Survey expects the government’s emphasis on micro, small, and medium enterprises (MSMEs) and good rabi crop production to accelerate growth and employment in the economy. Looking ahead, India’s economic prospects for FY26 are balanced. Headwinds to growth include elevated geopolitical and trade uncertainties and possible commodity price shocks. Domestically, the translation of order books of the private capital goods sector into sustained investment pick-up, improvements in consumer confidence, and corporate wage pick-up will be key to promoting growth, the survey stated. Rural demand backed…

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    • 1 February
      224

      Over 60 work hours a week could affect health, says Survey citing studies

      Spending long hours at one’s desk is equally detrimental to mental well-being, notes Survey New Delhi: Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey on Friday cited studies to state that spending over 60 hours a week on work could have adverse health effects. The survey noted that spending long hours at one’s desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being. “While the hours spent at work are informally considered a measure of productivity, a previous study has documented adverse health effects when hours exceed 55-60 per week,” the survey said, citing findings by Pega F, Nafradi B (2021)…

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