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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

    • Dec- 2025 -
      7 December
      105

      Airport check-in systems hit by outage; airlines switch to manual processing

      Multiple airports across India reported check-in system disruptions on Wednesday morning, forcing airlines to shift to manual processing and causing flight delays. A message at Varanasi airport cited a Windows outage, but Microsoft denied any such issue. Authorities are assessing the situation New Delhi: Check-in systems at various airports faced issues on Wednesday morning due to a system outage, according to a source. The source added that some flights have been delayed due to the issues. While a message displayed for passengers at Varanasi airport cited a Microsoft Windows outage, the tech company denied any such outage, calling it “factually incorrect”. Real-time outage monitoring website Downdetector also did not reflect any user reports of disruption. A message for the passengers at…

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    • 7 December
      171

      Indian Gas Exchange board decides to go public for raising funds

      Indian Gas Exchange (IGX), an IEX associate, plans to go public via an IPO through an offer for sale by existing shareholders; details on size and timing are yet to be announced New Delhi: Indian Energy Exchange on Wednesday said the board of Indian Gas Exchange (IGX) has decided to go public to raise funds through an Initial Public Offering. However the Indian Energy Exchange (IEX) did not divulge details about the size of the issue, opportune time and the modalities of the issue. According to a regulatory filing, the Board of Directors of IGX Ltd, an associate company of IEX, at its meeting held on December 2, 2025, has approved to start the process of Initial Public Offering (IPO) of…

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    • 7 December
      115

      India, UAE to make mobility easier for workers, tourists and businesses

      India and the UAE are streamlining visas, extradition, and legal cooperation to boost travel, business, and security. Talks focus on liberalised visas, faster extradition, mutual legal assistance, and smoother movement for workers, tourists, and professionals amid growing bilateral trade New Delhi: India and the UAE are taking major steps to make travel smoother and strengthen legal cooperation, marking a new phase in their fast-growing strategic partnership. Both countries are focusing on easier visas, faster extradition and closer coordination between their legal systems. The aim is to make movement simpler for workers, tourists and businesses, while also tightening the fight against financial crime and fugitives who operate between the two nations. At the sixth meeting of the India’s UAE Joint Committee on…

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    • 7 December
      115

      Vidya Wires IPO fully subscribed hours after start of bidding on Day 1

      Vidya Wires Ltd’s Rs 300-crore IPO was fully subscribed within hours, receiving bids for 5.07 crore shares against 4.33 crore on offer. Retail investors oversubscribed 1.91 times. Proceeds will fund new projects, debt repayment, and general corporate purposes New Delhi: The initial public offering of Vidya Wires Ltd got fully subscribed hours after opening for subscription on Wednesday. The Rs 300-crore IPO received bids for 5,07,44,160 shares against 4,33,34,009 shares on offer, translating into 1.17 times subscription, as per details available with the NSE till 12.12 hours. Retail Individual Investors (RIIs) portion attracted 1.91 times subscription while the category for non-institutional investors got subscribed 99 per cent. Winding and conductivity products maker Vidya Wires on Tuesday said it has collected Rs 90…

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    • 7 December
      117

      Rupee breaches 90-per-dollar for first time, hits new all-time low

      The rupee crashed to a record 90.13 per US dollar on Wednesday amid weak trade flows and uncertainty over the India–US trade deal. The sharp fall weighed on equities, with Nifty slipping below 26,000 and market sentiment turning cautious. New Delhi: The Indian rupee fell sharply on Wednesday, slipping past the crucial 90-per-dollar level for the first time ever. The currency dropped to a new record low of 90.13 against the US dollar, breaking its previous all-time low of 89.9475 touched just a day earlier. The decline in the rupee came amid weak trade and portfolio flows, along with growing uncertainty over the India-US trade deal. These factors kept the currency under continuous pressure throughout the session. The sharp fall in…

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    • 5 December
      93

      Govt to divest 6 per cent stake in Bank of Maharashtra

      At the floor price, the government would mop up about Rs 2,492 crore by divesting its 6 per cent stake in the state-owned lender New Delhi: The government on Tuesday decided to exercise green shoe option with clear intention to divest 6 per cent stake in Bank of Maharashtra (BoM) through offer-for-sale following overwhelming response from investors on the first day of subscription. The OFS of BoM opened for subscription earlier on Tuesday for non-retail investors at a floor price of Rs 54 per share. On the first day, it subscribed over 400 per cent of the base size 38.46 crore shares, triggering exercise of green shoe option of additional 1 per cent. The issue was subscribed 4.07 times of the base size,…

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    • 5 December
      103

      India’s new SIM-binding rule for WhatsApp and other apps. Here’s what you should know

      India has mandated active SIM linkage for messaging apps such as WhatsApp, Telegram and Signal, citing rising digital fraud. While telecom operators have welcomed the move for enhancing traceability, major tech firms have urged the government to pause implementation and review legal concerns New Delhi: India has mandated an active SIM linkage for messaging apps like WhatsApp, Telegram, and Signal to work on a device in the coming days, with the government asserting that “SIM binding” is essential to plug security gaps that cybercriminals exploit to perpetrate large-scale, often cross-border, digital fraud. The move has, however, polarised stakeholders, with mobile operators under COAI supporting the directive, while digital platforms under the Broadband India Forum (BIF) have raised “serious concerns” about overreach…

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    • 5 December
      101

      Govt to launch cooperative-led ‘Bharat Taxi’ ride-hailing app

      The government will launch ‘Bharat Taxi’, a cooperative-led ride-hailing app aimed at reducing drivers’ dependence on private aggregators. Operated by Sahakar Taxi Cooperative Ltd, the platform promises zero commission, transparent fares, multilingual support, security features, and full earnings for drivers New Delhi: Cooperation Minister Amit Shah on Tuesday said the government plans to launch a ride-hailing mobility app ‘Bharat Taxi’ that aims to free the country’s commercial vehicle drivers from dependency on private companies. The digital app, ‘Bharat Taxi’, will be operated by the Sahakar Taxi Cooperative Ltd, a multi-State cooperative society, registered under the MSCS Act 2002 on June 06, 2025, Shah said in a written reply to the Lok Sabha. “Yes, the government proposes to launch a cooperative-led digital app…

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    • 5 December
      91

      Over 6,300 recognised startups marked as closed, government tells Parliament

      A total of 6,385 recognised startups have been categorised as closed as of October 31, according to MCA data. Maharashtra accounts for the highest number. The government said no rise in startup closures has been observed, citing market and business factors New Delhi: As many as 6,385 recognised startups have been categorised as ‘closed’ as of October 31, according to the data from the Ministry of Corporate Affairs, Parliament was informed on Tuesday. Recognised startups are eligible for several incentives, such as income tax benefits under the Startup India initiative by the Department for Promotion of Industry and Internal Trade (DPIIT). As of October 31 this year, a total of 1,97,692 entities have been recognised as startups. “As on 31st October…

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    • 4 December
      116

      India’s Russian crude imports slide after US sanctions; deeper declines expected in December

      India’s Russian oil imports dropped by nearly a third after new US sanctions took effect on November 21, prompting refiners to cut purchases from designated companies. Analysts expect December arrivals to fall further as India turns to alternative suppliers and opaque trade routes New Delhi: India’s imports of Russian oil fell by nearly a third after stringent US sanctions on key Kremlin-linked exporters came into effect on November 21, and analysts expect further declines in December as refiners turned to alternatives to avoid breaching sanctions. India’s crude oil imports from Russia averaged 1.8 million barrels per day (bpd) in November and accounted for more than 35 per cent of its total crude import mix, according to real-time data analytics company Kpler.…

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