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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

    • Aug- 2025 -
      27 August
      171

      Real-money gaming ban may shrink digital payments by Rs 30,000 crore, hit gateways’ revenues

      Payment firms brace for 15 per cent revenue dip as online gaming law tightens; UPI may lose 25 crore transactions monthly New Delhi: The annual revenue growth of payment gateway firms operating in India is expected to dip by as much as 15 per cent following the suspension of real-money gaming (RMG) operations post the government brought new laws barring e-sports companies from offering such games. Following the development, the digital transaction volumes in the country may shrink by at least Rs 30,000 crore this year. According to media reports, the sharpest impact will be felt by smaller, gaming-focused payment players, while larger gateways may see only a partial dent thanks to their diversified portfolios. Nearly 80 per cent of the…

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    • 27 August
      211

      CBI charges Anil Ambani and RCom in Rs 2,929 crore SBI fraud case, raids Mumbai properties

      Ambani, RCom accused of conspiracy, cheating and diversion of funds; CBI raids ‘Sea Wind’ residence and RCom office in Mumbai New Delhi/Mumbai: The CBI searched the residence of Reliance Communication Ltd. (RCOM) Director Anil Ambani in Mumbai on Saturday after recently registering a case for allegedly defrauding the State Bank of India of Rs 2929.05 crore, officials said. Teams of CBI conducted the searches at two locations in Mumbai on Saturday — the official premises of Reliance Communication Ltd., and residential premises of Anil D Ambani, the agency said in a statement. The CBI registered an FIR on Thursday against Reliance Communication Ltd. (RCOM), Mumbai, its Director Anil D. Ambani, unknown public servants and unknown others on the basis of the complaint from…

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    • 27 August
      224

      Canada to lift counter-tariffs on US goods under free trade deal

      Canada will remove counter-tariffs on US goods covered by CUSMA starting September 1, following discussions between PM Carney and President Trump. Tariffs on steel, aluminum, and autos remain as both countries work to resolve trade issues. Ottawa: Canadian Prime Minister Mark Carney said that the country will lift its counter-tariffs on US goods specifically covered under the Canada-US-Mexico Agreement (CUSMA) starting September 1. Carney made the announcement on the prime minister’s website, one day after he spoke by phone with US President Donald Trump on Thursday. “Canada will retain our tariffs on steel, aluminum and autos as we work intensively with the US to resolve the issues there,” according to the statement. Canada and the United States have been in a…

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    • 27 August
      217

      Fantasy gaming apps suspend paid contests after Online Gaming Bill

      ndia’s leading fantasy and real money gaming platforms have suspended paid contests after the Online Gaming Bill 2025 came into effect, banning money-based games. The law imposes prison terms and hefty fines for offering, promoting, or sponsoring such games New Delhi: India’s leading real money gaming (RMG) companies, including Dream Sports, Gameskraft, Mobile Premier League (MPL) and Zupee, have started suspending games involving real money on their platforms, after the government passed the ‘Promotion and Regulation of Online Gaming Bill 2025’. The bill banned all online money games, where players stake money with the expectation of financial returns, regardless of whether they are skill-based or chance-based. Further it granted authorities the power to search any premise and arrest without a warrant…

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    • 26 August
      208

      Hiring momentum strong in H2 2025 with IT, AI skills in demand

      A Naukri report shows 94 per cent of Indian employers plan to hire in H2 2025, with 72 per cent expecting new job creation. IT, Business Development, and Operations will drive hiring, while AI is expected to create, not reduce, opportunities New Delhi: The Indian white-collar job market is expected to maintain strong hiring momentum, with 94 per cent of employers saying they plan to hire during the second half of 2025 (H2 2025), a report said on Friday. Additionally, hiring employers, nearly three-quarters (72 per cent) indicated they expect new job creation, while 22 per cent of employers specified they largely foresee only replacement hiring to fill existing vacancies, Naukari, a recruitment platform, said in a report. According to the…

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    • 26 August
      190

      OpenAI to open first India office in New Delhi, highlights ChatGPT’s rapid growth

      India is ChatGPT’s second-largest market, with rapid growth in students, developers, and businesses adopting AI tools New Delhi: ChatGPT maker OpenAI on Friday confirmed plans to open its first India office in New Delhi later this year, alongside new data highlighting the rapid adoption of its tools in the country. Opening an office in India reflects OpenAI’s support for the government’s IndiaAI mission and commitment to partnering with the government to build AI for India, with India, the company said in a statement. It will also allow OpenAI to better serve its users in India, including the millions of students, educators, professionals, and developers who use OpenAI’s tools to learn, be more creative, and solve problems for themselves and others. “The…

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    • 26 August
      196

      Rupee falls 11 paise to 87.36 against US dollar as traders await Fed Chair Powell’s speech

      The rupee slipped 11 paise to 87.36 against the US dollar amid rising dollar demand. Positive FII inflows and lower crude prices limited losses as traders awaited US Fed Chair Jerome Powell’s remarks at the Jackson Hole Symposium. Mumbai: The rupee declined 11 paise to 87.36 against the US dollar in early trade on Friday amid a rise in dollar demand. However, positive FII inflows and a decline in crude oil prices prevented sharper losses in the local unit as traders awaited US Fed Chief Jerome Powell’s speech at the Jackson Hole Symposium later in the day, forex traders said. The domestic unit opened at 87.37 against the US dollar and inched up to 87.36, down 11 paise from its previous…

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    • 26 August
      208

      Equity markets dip as IT and banking stocks drag Sensex, Nifty lower

      Equity markets fell in early Friday trade after a week-long rally, with IT and banking stocks leading losses. Sensex dropped 262 points, Nifty fell 81 points, as investors awaited US Fed Chair Powell’s remarks at the Jackson Hole Symposium. Mumbai: Equity benchmark indices declined in early trade on Friday, after about a week-long rally, dragged by IT and bank stocks. The 30-share BSE Sensex declined 262.05 points to 81,738.66 in early trade. The 50-share NSE Nifty dropped 81.55 points to 25,002.20. From the Sensex firms, HCL Tech, Asian Paints, Tech Mahindra, ICICI Bank, HDFC Bank, ITC, Tata Consultancy Services and NTPC were among the major laggards. However, Bharat Electronics, Mahindra & Mahindra, Bajaj Finance and Larsen & Toubro were among the…

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    • 26 August
      164

      GoM backs Centre’s GST slab overhaul; opposition-ruled states demand clarity on revenue loss

      GoM supports Centre’s proposal to simplify GST slabs, but opposition states seek clarity on revenue loss and compensation measures. New Delhi: A panel of ministers from different states on Thursday in principle approved the Centre’s proposed sweeping GST reforms through rate cuts, but some opposition-ruled states wanted to know the revenue loss from the move and how that would be bridged. The Group of Ministers, headed by Bihar Deputy Chief Minister Samrat Choudhary, discussed the Centre’s proposal of reducing the number of slabs under the Goods and Services Tax (GST) to 2 (5 and 18 per cent) from 4 (5, 12, 18, and 28 per cent). The Centre has also proposed a 40 per cent rate for 5-7 select goods.…

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    • 24 August
      208

      GST Panel Backs Centre’s Proposal for Two-Slab Structure of 5% and 18%

      GST GoM approves Centre’s proposal to replace 4-tier system with 5% and 18% slabs; luxury goods to face 40% tax. New Delhi: The GoM of state ministers on GST rate rationalisation on Thursday accepted the Centre’s proposal to move to a two-slab structure of 5 and 18 per cent. Bihar Deputy Chief Minister and convenor of rate rationalisation GoM Samrat Choudhary said the six-member state ministerial panel has also accepted the proposal of removing the 12 and 28 per cent slabs. “Both the proposals of the Centre have been accepted by the GoM on rate rationalisation,” Choudhary told reporters after the meeting of the panel. Uttar Pradesh Finance Minister Suresh Kumar Khanna said the Centre’s proposal also includes levying 40 per…

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