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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

    • Jun- 2025 -
      14 June
      234

      LIC relaxes claim settlement process of Air India plane crash victims, expedite process

      After the Air India crash, LIC and Bajaj Allianz have eased claim rules and are speeding up settlements for victims’ families. LIC accepts government proof instead of death certificates, and both insurers have simplified processes to quickly support affected claimants New Delhi: Life Insurance Corporation of India (LIC) on Friday said it has relaxed its claim settlement process for Air India plane crash victims and also expedited the process. The corporation said it is committed to supporting those affected in the plane crash and will expedite claim settlements for the victims. “LIC has announced many concessions to mitigate the hardships of the claimants of LIC policies. In lieu of death certificates, any evidence in government records of death of the policyholder…

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    • 14 June
      173

      Oil prices in international market jumps 9 per cent

      Oil prices jumped over 9% after Israel attacked Iran’s nuclear sites, raising tensions. Iran may retaliate, risking wider conflict. Despite supply risks, markets are well-stocked. India’s inflation and economy remain stable for now, says Emkay Global New Delhi: Oil prices in the international market jumped by more than 9 per cent on Friday after Israel’s attack on Iran’s nuclear facilities and missile production sites led to a further escalation in geopolitical tensions in the Middle East. The price of benchmark Brent crude surged by over $6 to cross a five-month high of $78 per barrel. Israel has further declared a state of emergency, expecting retaliation from Iran. US President Donald Trump has warned that this may lead to a massive conflict,…

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    • 14 June
      180

      SBI recruits 505 probationary officers to strengthen process and delivery

      SBI hired 505 probationary officers to strengthen its workforce across the country, offering diverse career opportunities in various banking sectors. Along with this, 13,455 junior associates were recruited to improve customer service New Delhi: State Bank of India (SBI) on Friday said it has hired 505 Probationary Officers (POs) to strengthen its process and delivery across the country. The recruitment aimed to fill vacancies across the country, makes it one of the significant hiring efforts in the industry in junior management grade, SBI said in a statement. These officers will have immense opportunities to work in diverse areas such as banking operations, corporate credit, agri-business, wealth management, treasury operations, banking compliance and regulations and many other verticals along with an opportunity…

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    • 14 June
      204

      Rupee falls 56 paise to 86.08 vs US dollar as crude spikes, Israel-Iran conflict deepens

      The rupee dropped 56 paise to 86.08 against the US dollar due to surging oil prices and geopolitical tensions after Israel’s attack on Iran. Weak equities, FII outflows, and a tragic Air India crash further dented investor confidence. Mumbai: Rupee declined 56 paise to 86.08 against the US dollar in early trade on Friday due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following a fresh Israel attack on Iran’s nuclear sites. A weak opening in domestic equity markets and heavy FII outflows further contributed to the fall in the local unit, forex traders said. At the interbank foreign exchange, the local unit opened at 86.25 against the greenback before inching…

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    • 14 June
      219

      Sensex crashes 1,337 points, Nifty down 415 as Israel-Iran tensions flare

      Indian markets tanked on Friday as geopolitical tensions escalated after Israel’s strike on Iran. Sensex and Nifty dropped over 1.6%, tracking weak global cues and a 12% spike in crude prices. The Air India crash in Ahmedabad added to investor anxiety. Mumbai: Equity benchmark indices Sensex and Nifty tumbled in early trade on Friday in tandem with weak Asian markets amid a sharp spike in Brent crude oil prices after Israel attacked Iran’s capital. The 30-share BSE Sensex tanked 1,337.39 points or 1.63 per cent to 80,354.59 in early trade. The 50-share NSE Nifty dropped 415.2 points or 1.66 per cent to 24,473. All the 30-Sensex firms were trading lower during the early trade. Kotak Mahindra Bank, Power Grid, Adani Ports,…

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    • 14 June
      181

      Asian shares slide while oil prices surge after Israel’s strike on Iran

      US benchmark crude oil rose by $5.6, or 8.2%, to $73.61 per barrel. Brent crude, the international standard, increased by $5.52 to $74.88 per barrel Hong Kong: Markets in Asia opened lower early on Friday while oil prices surged after Israel attacked Iran’s capital amid the ramping up tensions over Tehran’s rapidly advancing nuclear program. US benchmark crude oil rose by $5.6, or 8.2%, to $73.61 per barrel. Brent crude, the international standard, increased by $5.52 to $74.88 per barrel. In share trading, Tokyo’s Nikkei 225 fell 1.2% to 37,721.63 while the Kospi in Seoul edged 0.7% lower to 2,900.14. Hong Kong’s Hang Seng retreated 0.4% to 23,929.62 and the Shanghai Composite Index lost 0.2% to 3,394.52. Australia’s S&P/ASX 200 drifted 0.3% lower to 8,540.80. “An Israeli attack on Iran poses a top ten of our global risk, but Asian markets are expected to recover quickly as they have relatively limited exposure to…

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    • 13 June
      281

      NPCI, IDRBT join hands to bolster security for digital payments

      NPCI and IDRBT will jointly offer specialised training programmes for technology and cyber security professionals in the banking and digital payments sectors New Delhi: The National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad, on Thursday signed a memorandum of understanding (MoU) to work together on strengthening cyber security and resilience in India’s fast-growing digital payments ecosystem, including UPI. This partnership aims to improve the overall safety of digital transactions by focusing on training, awareness, and proactive risk management. Dilip Asbe, MD and CEO of NPCI, said that this collaboration with IDRBT, an RBI institute based in Hyderabad,  is a step towards enhancing cyber resilience not just through technology, but also through people…

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    • 13 June
      183

      Rupee slips 7 paise to 85.60 against US dollar amid equity selloff and higher crude prices

      The rupee fell 7 paise to close at 85.60 against the dollar on Thursday, tracking a sharp sell-off in domestic equities and rising crude prices. A weak dollar capped the fall, while traders await US PPI and India CPI data. Mumbai: The rupee declined 7 paise to close to 85.60 (provisional) against the US dollar on Thursday amid a steep fall in the domestic equity markets and a rise in global crude oil prices. However, a weaker dollar against major currencies capped the losses, forex traders said. At the interbank foreign exchange, the rupee opened at 85.43 against the US dollar and traded in the range of 85.43-85.65 before closing at 85.60 (provisional), down 7 paise from its previous close. The…

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    • 13 June
      176

      Coal India employees to wear uniforms from July; Rs 12,500 advance announced to each employee

      The objective behind the dress code is to bring uniformity and presentability among the PSU’s employees, while reinforcing the company’s brand through consistent employee appearance New Delhi: Starting July, male employees of Coal India will be seen in navy blue pants and sky blue shirt while female employees will be either in light sky blue kurta and dark navy blue salwar and dupatta or light sky blue colour saree with dark navy blue border and dark navy blue blouse. The Coal India Ltd (CIL) board in a recent meeting took the decision to implement the uniform dress code for its employees, according to a source. “The board of directors of CIL, in its meeting held on May 30, 2025 has given approval to the…

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    • 13 June
      174

      Building India’s rare earth magnet ecosystem: A strategic imperative

      As China clamps rare-earth exports, India charts a strategic roadmap; domestic mining, homegrown processing, alternative suppliers and R&D, to safeguard its automotive and clean-tech ambitions New Delhi: In April 2025, China imposed strict controls on seven key rare earth elements (REEs) used in high-performance magnets, accounting for roughly 70 percent of global REE production and 90 percent of processing capacity. This move sent shockwaves through international supply chains, leaving industries from electronics to automotive scrambling for alternatives. India relies heavily on Chinese REE imports. With existing stocks gradually depleting, electric-vehicle, hybrid and even internal-combustion engine production could face slowdowns as early as July 2025, particularly for premium models that depend on advanced magnet technologies. To cope, automakers may have to pivot…

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