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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 -
      21 August
      248

      Govt launches PM Viksit Bharat Rozgar Yojana portal to boost job creation

      The government has launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) portal to create 3.5 crore jobs in two years. The Rs 1-lakh crore scheme offers incentives to both employers and first-time employees to encourage fresh hiring and job creation New Delhi: The government has launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) portal on Monday, Union Minister Mansukh L Mandaviya said, urging employers and first-time employees to take benefit of the Rs 1-lakh crore central scheme. The Union Cabinet approved the Employment Linked Incentive Scheme on July 1, 2025. With an outlay of nearly Rs 1 lakh crore, the central sector scheme aims to incentivise the creation of more than 3.5 crore jobs in the country, over a…

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    • 20 August
      209

      GST rationalisation: Cars, two-wheelers likely to get cheaper ahead of Diwali

      The Centre plans GST rationalisation by Diwali, lowering tax on passenger vehicles and two-wheelers from the current 28% to 18%, benefiting entry-level models. The proposal, expected in September’s GST Council meet, aims to boost affordability, sales, and economic growth Mumbai: In the upcoming Goods and Services Tax (GST) rate rationalisation, the Centre is expected to lower the tax on passenger vehicles (PVs) and two-wheelers, making them more affordable ahead of Diwali. The Finance Ministry has sent its proposal to the GST Council for two GST rates of 5 per cent and 18 per cent across all goods, which will replace the existing four slab structure. The GST Council, comprising State Finance Ministers, is expected to meet in September to approve the…

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    • 20 August
      207

      Sensex jumps over 1,000 points, Nifty tops 24,953.50 level

      Sensex and Nifty surged in early trade on Monday, driven by GST reform plans and S&P’s sovereign rating upgrade for India. Auto, consumer discretionary and cement stocks led gains, while select IT and infrastructure stocks lagged amid global mixed cues Mumbai: Benchmark indices Sensex and Nifty surged in early trade on Monday, buoyed by plans for big bang reforms in the GST regime by Diwali and S&P upgrading India’s sovereign credit rating. Auto, consumer discretionary and consumer durables stocks propelled the rally in the equity market. The 30-share BSE Sensex jumped 1,021.93 points to 81,619.59 in early trade. The 50-share NSE Nifty surged 322.2 points to 24,953.50. From the Sensex firms, Maruti, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Trent and…

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    • 20 August
      193

      Average daily UPI transactions touch Rs 90,446 crore in August; SBI leads as top remitter

      Average daily UPI transactions in India reached Rs 90,446 crore in August 2025, with SBI as the top remitter. Peer-to-merchant payments surged, groceries dominated volume, and digital payments increasingly replaced cash, reflecting robust growth and financial inclusion, according to SBI Research. New Delhi: The UPI transactions have expanded significantly and the average daily value has increased from Rs 75,743 crore in January to Rs 90,446 crore in August, with SBI as the top remitter member with 5.2 billion transactions, a report showed on Monday. Maharashtra emerges as the consistent leader in digital payments with 9.8 per cent share in July alone, followed by Karnataka (5.5 per cent) and Uttar Pradesh (5.3 per cent), according to SBI Research. “The share of peer-to-merchant…

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    • 17 August
      220

      Ola unveils Bharat Cell, Ferrite Motor tech to cut reliance on rare earth magnets

      Ola Electric announced its Gen-3 initiative with the launch of Bharat Cell 4680, Ferrite Motor technology to replace rare earth magnets, and AI-powered MoveOS6. Founder Bhavish Aggarwal also unveiled the Pro Sport scooter and futuristic Diamond Head motorcycle prototype Krishnagiri: Ola Electric has drawn up aggressive plans under its Gen 3 initiative, including an indigenously developed Bharat Cell and AI-enabled MoveOS software for electric vehicles, a top company official said on Friday. The company, at its factory here, has commenced development of Ferrite motor technology that would replace the use of rare earth magnets, used in the development of its products, Ola Electric founder-CEO Bhavish Aggarwal said. Addressing the gathering at the annual “Sankalp” on the theme ‘India Inside’, Aggarwal said,…

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    • 17 August
      210

      Finance Ministry proposes two-slab GST system

      The Finance Ministry has proposed a simplified two-tier GST system with “standard” and “merit” slabs, aiming to reduce taxes on essential and aspirational goods. Linked to PM Modi’s Independence Day pledge, reforms target relief for citizens, MSMEs, and sustainable long-term growth New Delhi: The Finance Ministry on Friday put forth the proposal about a simplified, two-tier Goods and Services Tax (GST) system with a “standard” and “merit” slab, alongside special rates for select goods. The proposal came after Prime Minister Narendra Modi said during his Independence Day address from the Red Fort that the next generation reforms in GST will be unveiled by Diwali, which will provide “substantial” tax relief to the common man and benefit small businesses. The government has…

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    • 17 August
      200

      Four amendments to Income Tax Act to apply from FY26

      The government has passed four key amendments to the Income Tax Act, effective FY26. These cover sovereign fund exemptions, block assessment reforms, correction of a standard deduction error, and tax parity for the Unified Pension Scheme with the National Pension System New Delhi: The government has introduced four amendments to the Income Tax Act, 1961, relevant for FY 2025-26, but included in the Income Tax Bill, 2025, applicable for FY 2026-27, Union Finance Minister Nirmala Sitharaman has said. The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and pension funds investing in infrastructure from April 1, 2020, to December 31, 2030, subject to notification. The Public Investment Fund (PIF) and its wholly-owned subsidiaries…

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    • 17 August
      189

      Cognizant to give November pay hikes to 80 per cent of eligible staff

      Cognizant will give salary hikes to about 80 per cent of eligible employees from November 1, with high single-digit increases for top performers in India. The move follows similar pay revisions by TCS, despite slowing bookings in early 2025 Mumbai: Global Information Technology (IT) major Cognizant announced that around 80 per cent of its eligible employees will receive a salary hike from November. The company indicated that the hike will be in a “single high digit” (7 to 9 per cent) of the employees’ current salary. During its second-quarter earnings, the company had indicated plans to award merit-based pay rises to the vast majority of staff in the second half of 2025. “Cognizant today said that approximately 80 per cent of…

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    • 16 August
      231

      India can reshape Southeast Asia’s semiconductor and rare earth supply chains

      A PRF report says India can play a pivotal role in reshaping Southeast Asia’s semiconductor and rare earth supply chains amid US-China tensions. Ongoing ASEAN trade renegotiations and bilateral pacts could help counter Chinese dominance and strengthen regional partnerships New Delhi: As Southeast Asia emerges as a transformative critical player in the global semiconductor and rare earth mineral industries, India can play a significant role amid the reshaping of the world trade and supply chain order as US tariff tensions escalate. Although no single silver bullet exists to overturn decades of Chinese dominance, yet the combination of US defence funding, EU market regulations, JOGMEC diplomacy and Indian exploration is already reshaping the supply map, said a new report. JOGMEC diplomacy refers…

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    • 16 August
      175

      WPI inflation dips to -0.58 per cent in July; retail inflation at 1.55 per cent

      Cheaper food and fuel prices drive down wholesale and retail inflation; RBI projects CPI at 3.1 per cent for 2025–26 New Delhi: India’s annual rate of inflation based on the Wholesale Price Index (WPI) fell further in the negative zone to a two-year low of (-) 0.58 in July this year, compared to the same month of the previous year — primarily due to a decrease in the prices of food articles and fuels such as petrol, diesel and natural gas, according to data released by the Commerce and Industry Ministry on Thursday. The WPI inflation for July is also lower than the -0.13 per cent that was recorded in the previous month of June. WPI-based inflation has been steadily easing…

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