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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 -
      16 August
      177

      Banks to clear cheques within few hours starting October 4: RBI

      From October 4, 2025, RBI will mandate banks to clear cheques within hours instead of up to two days. The Cheque Truncation System will shift to continuous clearing in two phases, enhancing efficiency, reducing settlement risks, and improving customer experience Mumbai: The Reserve Bank of India (RBI) has announced that bank cheques must be cleared within a few hours from October 4 — down from the current clearance time of up to two working days. Under the new mechanism, the banks will scan, present and pass cheques within a few hours and on a continuous basis during the business hours, cutting the clearing cycle down from the present T+1 days, a circular from central bank said. The current Cheque Truncation System…

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    • 16 August
      180

      Bitcoin touches record high on hopes of US Fed rate cut

      Bitcoin surged to a record \$124,210 before easing slightly, driven by expectations of US Fed rate cuts, Trump administration’s pro-crypto reforms, and institutional buying. Ether also hit a multi-year high as overall crypto market capitalisation crossed $4.18 trillion Mumbai: Leading cryptocurrency Bitcoin hit a record high of $124,210 on Thursday over increasing expectations for more lenient monetary policy from the US Federal Reserve. The development, coupled with supportive financial reforms, particularly under the pro-crypto stance of the US President Donald Trump’s administration, boosted investor sentiment. The world’s largest crypto asset by market capitalisation climbed over 0.9 per cent to $124,210, surpassing its previous peak in July. But as of 10.30 am, the BTC has dropped to $1,23,036.80. The second-largest crypto-token Ether…

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    • 14 August
      257

      Paytm Payments gets RBI nod to operate as online payment aggregator

      Move also removes restriction on Paytm Payments Services Limited from onboarding new merchants which was imposed on the company on November 25, 2022 New Delhi: Paytm Payments Services has received the Reserve Bank of India’s nod to operate as an online payment aggregator, its parent firm and Paytm brand owner One 97 Communications said in a filing on Tuesday. The move also removes restriction on Paytm Payments Services Limited from onboarding new merchants which was imposed on the company on November 25, 2022. “Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary of One 97 Communications Limited (OCL or the Company), for a Payment Aggregator (PA) licence. We would like to inform you that Reserve Bank of India (“RBI”) has granted ‘in-principle’ authorisation to…

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    • 14 August
      322

      India’s retail inflation drops to 1.55 per cent, lowest since 2017

      The RBI projects inflation at 3.1 per cent for 2025–26, with a likely uptick above 4 per cent by year-end. New Delhi: India’s inflation rate based on the Consumer Price Index (CPI) eased further to 1.55 per cent in July this year, compared to the same month of the previous year, as prices of food declined during the month. This is the lowest level of year-on-year retail inflation since June 2017, according to a statement issued by the Ministry of Statistics on Tuesday. The retail inflation in July was also lower by 55 basis points than the 2.1 per cent for the previous month of June this year which was the lowest level of retail inflation since January, 2019. Food Inflation…

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    • 14 August
      289

      Five MPs accuse Air India of ‘breach of privilege’ after diverted flight

      They allege safety lapses, misleading public statements, and demand a time-bound probe from the Civil Aviation Ministry New Delhi: Five MPs, including K C Venugopal of the Congress, wrote to Lok Sabha Speaker Om Birla on Tuesday over the incident of a Thiruvananthapuram-Delhi flight they were travelling in being diverted to Chennai and demanded action on alleged “breach of privilege” by Air India. Venugopal and party colleagues K Suresh, Adoor Prakash and Robert Bruce, along with CPI(M)’s K Radhakrishnan also wrote to Civil Aviation Minister Rammohan Naidu and demanded an immediate investigation into the incident. In their letter to Birla, the five MPs said they wanted to bring to his attention the matter involving a “grave breach of privilege” by Air…

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    • 14 August
      345

      India says no extra US tariffs on pharmaceuticals and electronics exports

      Trade talks on the India-US bilateral agreement continues, with the sixth negotiation round scheduled for August 24 in India New Delhi: The government on Tuesday said no additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics so far. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, effective August 7. It is estimated that around 55 per cent of the total value of India’s merchandise exports to the US is subjected to this reciprocal tariff, he said, adding that additional ad valorem rate…

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    • 13 August
      241

      India bans imports of more goods from Bangladesh

      India has expanded its ban on Bangladeshi imports via land ports to include more jute products, routing them only through Nhava Sheva seaport. The move, amid worsening ties, follows earlier restrictions on garments and processed foods, impacting $770 million in trade New Delhi: India has expanded the list of imports from Bangladesh that are banned from entry through any land port on the border by including more jute products amid deteriorating relations with the neighbouring country. These additional goods, which have been banned with immediate effect, include bleached and unbleached woven fabrics made of jute or other textile bast fibres; twine, cordage, and rope made of jute; twine, cordage, rope, and cables; as well as sacks and bags made of jute.…

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    • 13 August
      163

      Highway Infrastructure shares jump over 67 pc in market debut trade

      Highway Infrastructure Ltd debuted on BSE and NSE with over 64% premium to its IPO price of Rs 70, valuing the firm at Rs 881 crore. The Rs 130-crore IPO, oversubscribed 300.61 times, funds tollway, EPC, and real estate operations New Delhi: Shares of Highway Infrastructure Ltd on Tuesday listed with a premium of over 67 per cent against the issue price of Rs 70. The stock started trading at Rs 117, up 67.14 per cent from the issue price on the BSE. At the NSE, it listed at Rs 115, a jump of 64.28 per cent. The company’s market valuation stood at Rs 881.02 crore. The initial public offer of Highway Infrastructure Ltd garnered a whopping 300.61 times subscription on…

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    • 13 August
      152

      No regulation on minimum account balance, banks free to decide: RBI Governor on ICICI Bank hike

      RBI Governor Sanjay Malhotra said banks can decide savings account minimum balances, after ICICI Bank raised requirements up to Rs 50,000 for new customers in metros, while penalties and deposit charges also increased, contrasting with SBI’s zero-balance policy New Delhi: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Monday said that the minimum balance limit for savings accounts will be decided by banks as the decision does not fall under any regulatory jurisdiction, after India’s second largest lender, ICICI Bank, raised the monthly minimum average balance requirement for all customer segments. Asked on the sidelines of a financial inclusion programme in Gujarat about the RBI’s response to ICICI Bank’s new rules, Malhotra said the Central Bank has left it to the banks…

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    • 13 August
      163

      No proposal to restore Old Pension Scheme for central government employees: FM

      Finance Minister Nirmala Sitharaman told Parliament there is no proposal to restore the Old Pension Scheme for central government staff under NPS. Instead, the Unified Pension Scheme offers defined retirement benefits while ensuring fiscal sustainability. Household net financial position has improved New Delhi: There is no proposal under consideration of the Government of India for restoration of Old Pension Scheme (OPS) in respect of central government employees covered under National Pension System (NPS), Parliament was informed on Monday. The government had moved away from OPS due to its unsustainable fiscal liability on the government exchequer, Finance Minister Nirmala Sitharaman said in a reply in the Lok Sabha. NPS is a defined contribution-based scheme which was introduced for central government employees (except…

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