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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 -
      24 August
      192

      Apple to make all iPhone 17 models in India

      Tata as one of Apple’s key partners is expected to handle nearly half of India’s iPhone output within the next two years New Delhi: Apple is stepping up its manufacturing push in India, with all models of the upcoming iPhone 17 series, including the high-end Pro versions, being assembled in the country from the start. This is the first time the company will produce every new iPhone variant in India, a move seen as part of its strategy to reduce reliance on China and safeguard against US tariff risks. According to sources, Apple has spread iPhone 17 production across five local factories, two of which have just begun operations. However, the sources confirmed that the tech giant is expected to manufacture fewer units…

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    • 24 August
      125

      Online gaming bill empowers authorities with search and arrest powers

      The Union government introduced the Online Gaming Bill 2025 in Lok Sabha, banning real-money gaming platforms and ads, empowering warrantless searches and arrests. It promotes e-sports, imposes strict penalties, and restricts financial transactions, despite potential Rs 20,000 crore tax revenue loss Mumbai: The Union government’s draft bill to ban online real-money gaming (RMG) platforms, tabled in the Lok Sabha on Wednesday, grants authorities the power to search any premise and arrest, without a warrant, any person under suspicion of violation. The bill, titled ‘the Promotion and Regulation of Online Gaming Bill 2025’, focuses on curbing online money games, where players stake money with the expectation of financial returns, regardless of whether they are skill-based or chance-based. Consequently, the bill aimed to…

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    • 24 August
      150

      HAL shares rally after Cabinet clears Rs 62,000 crore Tejas fighter jet deal

      Hindustan Aeronautics Ltd (HAL) shares surged after reports that the firm is set to secure one of its biggest government defence contracts, worth around ₹62,000 crore, for 97 Tejas Mk1A jets. The deal strengthens HAL’s indigenous fighter programme Mumbai: Public sector defence major Hindustan Aeronautics Ltd’s (HAL) shares gained 1.82 per cent to touch Rs 4,533 on Wednesday in the early trade, followed reports that the company is poised to secure one of its largest orders from the government. Shortly after the market opened, the shares surged 3.5 per cent to Rs 4,605, but the strong gains triggered a minor sell-off. The Cabinet Committee on Security has approved the acquisition of 97 Light Combat Aircraft (LCA) Mark1A fighter jets for approximately…

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    • 22 August
      297

      ITR filings rise 32 per cent in five years, says government

      With numbers rising from 6.48 crore in FY20 to 8.56 crore in FY25 officials attribute the surge to digitisation, policy reforms, and compliance measures New Delhi: The number of people filing income tax returns (ITR) in India has grown by over 32 per cent in the past five financial years, the Parliament was informed on Tuesday. While 6.48 crore people filed ITRs in FY 2019-20, the figure rose to 8.56 crore in FY 2024-25, Minister of State for Finance Pankaj Chaudhary, said in a written reply to a question in the Rajya Sabha. This is an increase of more than 2 crore taxpayers — reflecting a steady rise in tax compliance and expansion of the tax base, as per the data…

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    • 22 August
      273

      MakeMyTrip launches AI-powered tool to help book stays near India’s national parks

      MakeMyTrip has introduced a new AI-powered feature to simplify booking of hotels and homestays around more than 100 national parks in India. The platform now offers park details, entry gate proximity, and travel tips to enhance wildlife tourism experience New Delhi: NASDAQ-listed travel booking platform MakeMyTrip on Tuesday said it has introduced a new feature designed to simplify the discovery and booking of hotels and homestays in and around over 100 national parks across India. The Gurugram-headquartered firm said it has leveraged artificial intelligence to map over 2,000 hotels and homestays with their nearest national park zones. Users on the platform will also have access to key park information through the ‘Tips’ section, which provides details on the National Park’s operational hours, peak…

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    • 22 August
      264

      Cotton imports made duty-free till Sept 30

      The government has waived the 11 per cent duty on raw cotton imports till September 30 to ease supply pressures on the textile industry. The relief coincides with Indian exporters facing a steep 50 per cent tariff in the US Govt allows duty free import of cotton till Sept 30 New Delhi: The government has allowed duty-free import of raw cotton till September 30 to improve the availability of the key raw material for the textile sector. Cotton was so far subject to an 11 per cent import duty along with the Agriculture Infrastructure and Development Cess (AIDC). According to a Finance Ministry notification dated August 18, the duty exemption will take effect from August 19 and shall remain in force…

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    • 22 August
      274

      OpenAI launches Rs 399/month ChatGPT Go plan in India

      OpenAI introduces ChatGPT Go in India at Rs 399/month, offering higher message limits, GPT-5-powered image generation, file uploads, and UPI payments. India, OpenAI’s second-largest market, could soon become its largest, reflecting rapid AI adoption. New Delhi: OpenAI has announced ChatGPT Go, its new subscription plan priced at Rs 399 a month that packs in increased message limits, image generation and file uploads for users in India, a market ChatGPT counts as its second-largest and among the fastest growing. The company also announced that all ChatGPT subscriptions can be paid through UPI, a move that will make it easier for users across India to access OpenAI’s advanced AI tools. “OpenAI is today introducing ChatGPT Go, a new subscription plan designed to make…

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    • 21 August
      368

      Apple signs 10-year lease for Bengaluru office space worth over Rs 1,000 crore

      Apple India has leased 2.7 lakh sq ft of office space in Bengaluru’s Embassy Zenith for 10 years, starting April 2025. With rent beginning at Rs 6.3 crore per month, the iPhone maker is expected to pay over Rs 1,000 crore New Delhi: iPhone maker Apple India has leased around 2.7 lakh square feet of office space in Bangalore for 10 years with a starting monthly rent of Rs 6.3 crore, according to data analytics firm Propstack. Apple is the biggest exporter of mobile phones from India. It exported iPhones worth about Rs 1.5 lakh crore in the financial year 2024-25. The company has taken multiple floors including car parking space on lease from real estate firm Embassy Group. The iPhone maker is…

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    • 21 August
      265

      RBI says nearly all Rs 2,000 notes returned, only Rs 6,017 crore left

      Nearly all Rs 2,000 banknotes have returned to the RBI, with only Rs 6,017 crore—just 1.69 per cent of the total value—still in circulation as of July 31, Finance Minister Pankaj Chaudhary informed Parliament. The withdrawal began in May 2023 New Delhi: Only 1.69 per cent of the Rs 2,000 banknotes were yet to be returned to the Reserve Bank of India (RBI) from circulation (as on July 31), the Parliament was informed on Monday. As per the Reserve Bank of India (RBI), the total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 6,017 crore as on July 31. Before undertaking the exercise…

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    • 21 August
      248

      Microsoft plans three-day office attendance policy for employees

      Microsoft is reportedly planning to revise its flexible work policy, potentially requiring employees to work from office at least three days a week starting January. The company, which has allowed 50 per cent remote work since 2020, may announce the changes by September Mumbai: US tech giant Microsoft is planning to tighten its office attendance policy, potentially implementing changes as early as January for some employees. The new policy will likely require employees to work in the office at least three days a week. The implementation dates for this policy differ across regions. Employees at the Redmond, Washington, headquarters will be required to work from the office more consistently starting in January, according to multiple media reports. Microsoft spokesperson Frank Shaw…

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