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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 -
      11 August
      318

      RBI draft rules to streamline claim settlement for deceased account holders

      The RBI has proposed standardised forms and uniform procedures for settling claims related to deceased customers’ accounts and lockers within 15 days, including compensation for delays, to streamline processes and improve customer service across all banks Mumbai: The RBI plans to standardise forms to process claims on deceased customers’ bank accounts and lockers within a 15-day timeframe and provide compensation to nominees for any settlement delays. The Reserve Bank of India (RBI) proposes to come out with standard procedures for the settlement of claims in respect of bank accounts, and articles kept in safe custody or safe deposit lockers of deceased bank customers. The aim is to make the settlement more convenient and simpler. Towards this, the central bank has issued…

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    • 11 August
      266

      ICICI Bank hikes minimum average balance to Rs 50,000 — How will it affect you

      Customers of metro and urban branches must maintain a minimum average balance of Rs 50,000 under the new structure — up from the earlier limit of Rs 10,000 Mumbai: ICICI Bank on Saturday raised the minimum average balance (MAB) requirement for its savings accounts, with significant hikes for new and urban customers in metro cities. Customers of metro and urban branches must maintain a minimum average balance of Rs 50,000 under the new structure — up from the earlier limit of Rs 10,000. The change applies only to the new customers who have been acquired since August 1, 2025. Semi-urban customers are required to maintain Rs 25,000, while rural customers need Rs 10,000 in their accounts to stay clear of penalties. Customers who…

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    • 11 August
      241

      Income Tax Dept launches ITR-5 Excel utility for AY 2024-25 filing

      The Income Tax Department has released the ITR-5 Excel utility for AY 2024-25, enabling partnership firms, LLPs, and other eligible entities to file returns. Updates include MSME, startup, and crypto reporting provisions, with a September 15 deadline for non-audit cases New Delhi: The Income Tax Department on Saturday released the ITR-5 Excel Utility for Assessment Year 2024–25. This utility can be used by partnership firms, Limited Liability Partnerships (LLPs), and cooperative societies to file their annual returns. Associations of Persons, Bodies of Individuals, artificial juridical persons, cooperative societies, societies registered under the Societies Registration Act, local authorities, and certain business trusts and investment funds are other eligible entities. Entities other than individuals, Hindu Undivided Families (HUFs), companies, and those required to…

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    • 10 August
      203

      Indian Railways launches discounted round trip scheme for festive travel

      Indian Railways has launched a discounted ‘Round Trip Package’ for the 2025 festive season, offering a 20 per cent rebate on return fares. The scheme applies to confirmed tickets in both directions and aims to ease festival travel congestion New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit. The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains. “It has been decided to formulate an experimental scheme named as Round Trip Package…

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    • 10 August
      207

      India eyes global trade expansion: FTAs underway with US, EU, and more

      India is actively negotiating Free Trade Agreements (FTAs) with multiple countries including the US, EU, Oman, Chile, Peru, and New Zealand, Commerce Minister Piyush Goyal said during the BT India @100 event. With India now the world’s fourth-largest economy, Goyal affirmed that the nation is on track to become the third-largest. New Delhi: India is negotiating trade pacts with several countries, including the US, Commerce Minister Piyush Goyal said on Friday, adding that today, the world recognises the strengths of the country. Speaking at an event here, Goyal said several countries are keen to engage with India on the trade front. “We are in dialogue with many countries — the US, Oman, the European Union, Chile, Peru and New Zealand. Many others want…

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    • 10 August
      190

      Jio eyes global leadership in 6G technology

      As of March 2025, Jio had around 191 million 5G users on its network contributing about 45 per cent to its wireless data traffic New Delhi: Digital services company Jio is actively engaged in development of 6G technology with an aim to be a global leader in the segment, according to annual report of parent firm Reliance Industries.It is now the world’s largest data operator carrying over 17 exabytes of data traffic monthly with about 60 per cent share of wireless data traffic in India. “Jio continues to work on future communication technologies and is actively researching and developing 6G technology, aiming to be a global leader in its development and deployment. “In less than a decade, Jio has driven India’s transition from…

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    • 10 August
      158

      Mukesh Ambani draws no salary for 5th year

      However, the promoter group firms that Reliance Industries chairman controls earn a dividend income of Rs 3,655 crore New Delhi: Asia’s richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fifth year in a row and dividends remain his main source of earnings. Ambani, 68, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to the Covid-19 pandemic, until the company and all its businesses were fully back to their earnings potential. In 2024-25 (FY25), he got ‘nil’ as salary, allowances, and perquisites as well as retiral benefits, according to the latest annual report of…

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    • 8 August
      226

      Trump ups the ante with additional 25 pc tariff on India for buying Russian oil

      In a move to further escalate trade tensions, U.S. President Donald Trump signed an executive order on Wednesday imposing an additional 25% tariff on goods imported from India. The new levy is in retaliation for India’s continued import of Russian oil, despite U.S. sanctions Washington: US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi’s continued buying of Russian oil. Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect. After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent. While the initial duty becomes effective on August 7, the additional…

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    • 8 August
      198

      Paytm becomes 100 per cent Indian-owned as Ant Group exits completely

      Paytm is now fully Indian-owned after Ant Group exited by selling its residual 5.84 per cent stake. The move marks a major shift in the company’s ownership structure, aligning with its long-standing vision of building a homegrown tech champion New Delhi: Nearly nine years ago, Paytm founder and CEO Vijay Shekhar Sharma had remarked, “We are as Indian as Maruti,” in an interview with PTI, responding to queries about the company’s ownership structure at that time. That statement, once seen as symbolic, now reflects the reality, one where Paytm stands as a truly Indian company, both in spirit and shareholding. The mobile payments company is 100 per cent Indian-owned after Jack Ma’s Ant Financial exited One97 Communications, the parent company of…

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    • 8 August
      202

      WhatsApp introduces new safety feature to combat scam groups

      WhatsApp has rolled out a ‘Safety Overview’ feature to protect users from being added to unknown groups, as part of a broader anti-scam push. Over 6.8 million scam-linked accounts were banned, with operations disrupted across Southeast Asia New Delhi: WhatsApp has launched a new ‘safety overview’, which will alert a user when someone not in their contact adds them to a new WhatsApp group that they may not recognise, as the Meta’s messaging platform intensified its crackdown on scams and frauds. The safety overview will contain key information about the said group and tips to stay safe, it said. “From there, you can exit the group without ever having to look at the chat. And if you think you might recognise…

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