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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

    • Sep- 2025 -
      6 September
      266

      TCS rolls out 4.5-7 per cent salary hikes for majority of employees

      The Tata group company starts sending letters of increment to employees; hike to be applicable from September Mumbai: Country’s largest IT services company TCS has rolled out salary hikes in the range of 4.5–7 per cent for a majority of its employees, sources said on Tuesday. The Tata group company started sending the letters of increment to the employees from late Monday evening, and the increments will be applicable from September, they said. An official response to an email query sent to the company was awaited. It can be noted that there has been a slew of headlines on the Human Resources front over the last two months, starting with an announcement to defer pay hikes amid hazy market conditions. This was followed…

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    • 6 September
      242

      Over 150 goods likely to get GST cut; big relief for households

      The GST Council will review proposals to cut rates on over 150 products, including food, snacks, vehicles, and education supplies. The move aims to ease household spending, expand the zero-GST list, and simplify the current four-rate structure Mumbai: The GST Council is expected to make a final decision during its two-day meeting this week regarding the Centre’s proposal to reduce GST rates on over 150 items as part of a comprehensive rate adjustment. The proposals to move various items from the 12 per cent and 18 per cent GST slabs to the 5 per cent slab or to the nil GST category aim to reduce the tax burden for households and boost spending. GST council plans to overhaul the rate structure,…

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    • 6 September
      219

      Sitharaman: Next-gen GST reforms to make economy open, transparent

      Finance Minister Nirmala Sitharaman said the next generation of GST reforms will simplify compliance, benefit small businesses, and boost transparency. She praised banks for improved asset quality, noted record GDP growth, low inflation, and underlined trust, technology, and transparency as guiding principles Chennai: The next generation GST reforms would ‘absolutely’ set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday. She was speaking at the 120th Foundation Day celebrations of Tamil Nadu-based City Union Bank, where President Droupadi Murmu was the chief guest. Sitharaman said Prime Minister Narendra Modi recently announced the creation of a Task Force for next-generation reforms with a clearer mandate to simplify regulations,…

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    • 6 September
      228

      RBI clears reappointment of R Gandhi as Yes Bank chairman

      The Reserve Bank of India has approved the reappointment of former Deputy Governor R. Gandhi as Yes Bank’s part-time chairman from September 2025 to May 2027. Gandhi, a veteran central banker with 37 years’ experience, previously served in RBI, SEBI, and IDRBT New Delhi: Private sector lender Yes Bank on Tuesday said the Reserve Bank has approved the reappointment of former RBI Deputy Governor R Gandhi as non-executive chairman of the bank. The Reserve Bank of India (RBI), through its letter dated September 1, 2025, has approved the re-appointment of Rama Subramaniam Gandhi as part-time Chairman of the bank for a further period from September 20, 2025, to May 13, 2027, at a remuneration approved by the RBI, Yes Bank said…

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    • 6 September
      244

      USD 18 bn semiconductor projects underway; next phase of mission, says PM Modi

      Prime Minister Narendra Modi announced that India is entering the next phase of its Semiconductor Mission, with 10 projects worth over USD 18 billion underway. He said the DLI scheme will be revamped as India aims for a major global chip market share New Delhi: Prime Minister Narendra Modi on Tuesday said 10 semiconductor projects worth over USD 18 billion are underway and the country is advancing towards the next phase of the India Semiconductor Mission and revamping the design-linked incentive scheme to tap the USD 1 trillion global chip market. “The day is not far when the smallest chip made in India will drive the biggest change in the world,” he said. “The day is not far when the world…

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    • 4 September
      516

      Urea shortage sparks protests, chaos in Warangal, Kothagudem

      Protests erupted across Warangal, Kothagudem and nearby districts as farmers faced acute urea shortage. A woman farmer fractured her leg during chaos over token distribution in Mahabubabad. Angry farmers staged rasta-rokos, blocked highways and demanded immediate government intervention Kothagudem/Warangal: Waiting in long queues for urea has turned costly for farmers, with a woman farmer suffering a leg fracture amid chaos over token distribution, while rasta-rokos were staged at several places in erstwhile Warangal and Kothagudem districts. A large number of farmers gathered at Kesamudram Rythu Vedika in Mahabubabad on Sunday night after officials announced that urea tokens would be distributed on Monday. Despite heavy rain, they waited until morning. When Agriculture Officer Venkanna began distributing tokens, chaos broke out as farmers…

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    • 3 September
      617

      Govt working on solutions to mitigate impact of US tariff hike: DEA Secy

      India is formulating an action plan to counter a 50% US tariff hike impacting key exports, Economic Affairs Secretary Anuradha Thakur said. Despite fiscal deficit concerns, the government remains confident in achieving targets amid strong economic fundamentals and domestic demand growth New Delhi: The government is working on an action plan to mitigate the impact of a steep tariff hike of 50 per cent imposed by the US on Indian shipments, Economic Affairs Secretary Anuradha Thakur said. “There are certain employment-heavy sectors which do have exposure to the US and to that extent may get affected. The government is well aware of that and is assessing the possible impact and working towards possible solutions,” she said. Besides, the Department of Economic…

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    • 3 September
      315

      US court strikes down Trump’s reciprocal tariffs, relief likely for India

      A US federal appeals court has struck down Donald Trump’s reciprocal tariffs, saying only Congress has the authority to impose them. The ruling offers potential relief for India, though tariffs remain until October 14 pending a Supreme Court challenge New York: In a possible reprieve for India, a federal appeals court has struck down the reciprocal tariffs imposed by US President Donald Trump, ruling he did not have the extensive powers to set them. The court, however, left the tariffs in place till October 14 to give the Trump administration time to appeal to the Supreme Court. Soon after the decision was announced on Friday afternoon, Trump denounced it as “highly partisan” and vowed to appeal to the Supreme Court, where…

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    • 3 September
      329

      Opposition states back GST rate cuts, urge genuine cooperative federalism

      Eight opposition-ruled States support GST rate slab reduction, consumer benefits, and compensation for revenue losses. Congress stresses the council meeting should advance cooperative federalism and fully transfer levies on sin and luxury goods to State New Delhi: Opposition-ruled states have extended their support for reducing the number of GST rate slabs and lowering the rates for mass consumption items, while demanding a mechanism to ensure the benefits are passed on to consumers, Congress leader Jairam Ramesh said on Saturday. He also said the Congress hopes that next week’s GST Council meeting would not be just a “headline-grabbing exercise so typical of the (Narendra) Modi government”. According to Ramesh, the eight opposition-ruled states have also demanded compensation for all states for a…

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    • 3 September
      324

      Jio forays into smartglasses with JioFrames

      Reliance Jio chairman Akash Ambani introduces “Riya” — a feature similar to Alexa or Siri; will allow hands-free access to calls, music, etc, in multiple Indian languages New Delhi: Digital firm Jio on Friday announced entry into the smartglass segment by unveiling JioFrames that will allow hands-free access to calls, music, recording of videos, etc, backed by AI voice assistant in multiple Indian languages. “JioFrames is an AI-powered wearable platform and ecosystem, made for India. With support for multiple Indian languages at launch, you can simply speak to Jio’s multilingual AI voice-assistant,” Reliance Jio Chairman Akash Ambani said while sharing the “first look” of the device at the company’s annual general meeting (AGM) on Friday. It is a hands-free, AI-powered companion designed for…

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