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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 -
      13 June
      193

      No Merchant Discount Rate will be charged on UPI transactions: Finance Ministry

      Merchant Discount Rate is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. Finance Ministry’s clarification comes following reports that the government is planning to impose MDR on large-ticket UPI transactions New Delhi: The Finance Ministry has said no Merchant Discount Rate (MDR) will be levied on transactions through Unified Payments Interface platforms. “Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading,” the Ministry said in a post on X on Wednesday. “Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI,” it said. MDR is the cost paid by…

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    • 13 June
      172

      Sensex and Nifty open higher but fall on global cues, Middle East tensions

      Indian benchmark indices opened higher on Thursday but soon turned negative, pressured by weak global markets, geopolitical tensions in the Middle East, and continued FII outflows. Analysts expect the flat trend to persist without strong positive triggers. Brent crude volatility remains a concern. Mumbai: Benchmark indices Sensex and Nifty began the trade with modest gains on Thursday and later traded lower in-tandem with sluggish global market trends amid growing tensions in the Middle East. Fresh foreign fund outflows also dented investors’ sentiment. The 30-share BSE Sensex climbed 108.02 points to 82,623.16 in early trade. The 50-share NSE Nifty went up by 38.7 points to 25,180.10. However, later both the benchmark equity indices slipped in the negative territory and were trading lower.…

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    • 13 June
      158

      Rupee rises 7 paise to 85.46 against US dollar amid weak greenback, crude drop

      The rupee appreciated by 7 paise to 85.46 against the US dollar, supported by a weak dollar index, falling crude oil prices, and positive equities. However, FII outflows and anticipation of CPI data capped further gains, traders said. Mumbai: Rupee rose 7 paise to 85.46 against the US dollar in early trade on Thursday, supported by a weak American currency, a drop in global crude oil prices, and a positive opening in the domestic equity markets. However, FII outflows capped further gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.43 against the greenback before falling to 85.46, up 7 paise from its previous close. The rupee had settled at 85.53 against…

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    • 12 June
      165

      Syria’s economic recovery will require ‘substantial’ support, says IMF

      Following the 2024 ousting of Bashar al-Assad, countries are renewing ties with Syria. The IMF is planning reforms and capacity-building, but reconstruction could cost up to $400 billion Damascus: Syria will need “substantial international” support for its efforts to rehabilitate the economy, meet urgent humanitarian needs, and rebuild essential institutions and infrastructure, the International Monetary Fund said on Tuesday. Syria cannot afford hundreds of billions of dollars of damages and losses from the conflict that first started as protests in 2011 against former President Bashar Assad’s totalitarian government. Since current President Ahmad al-Sharaa led an insurgency that ousted the Assad dynasty in December 2024, countries have gradually restored ties with Syria. During a five-day visit by the IMF in early June…

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    • 12 June
      214

      Sensex, Nifty rise in early trade on global rally, US-China trade optimism, FII inflows

      Benchmark indices Sensex and Nifty opened higher on Wednesday, tracking global gains and optimism over US-China trade negotiations. Positive FII inflows and firm Asian markets contributed to the upward momentum, while Brent crude saw a marginal dip. Mumbai: Equity benchmark indices Sensex and Nifty climbed in initial trade on Wednesday following a rally in global markets amid US-China trade talks optimism and foreign fund inflows. The 30-share BSE Sensex rose 118.11 points to 82,509.83 in early trade. The 50-share NSE Nifty went up by 33.3 points to 25,137.55. From the Sensex firms, Eternal, Reliance Industries, Mahindra & Mahindra, Tata Motors, NTPC and Tata Steel were among the biggest gainers. Kotak Mahindra Bank, HDFC Bank, Power Grid, Larsen & Toubro, IndusInd Bank…

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    • 12 June
      190

      Rupee gains 6 paise to 85.51 against US dollar on FII inflows, soft crude prices

      The Indian rupee strengthened by 6 paise to 85.51 against the US dollar on Wednesday, aided by foreign fund inflows and easing global crude prices. Traders expect range-bound movement amid demand from oil firms and government-related payments. Mumbai: The Indian rupee rose 6 paise to 85.51 against the US dollar in early trade on Wednesday, aided by strong FII inflows and a decline in global crude oil prices. The rupee could move within a range of 85.40-90 during the day, with the mid-month demand coming up for oil, defence, and government payments, forex traders said. At the interbank foreign exchange, the rupee opened at 85.53 against the greenback before inching up to 85.51, higher by 6 paise from its previous close.…

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    • 11 June
      279

      Piyush Goyal invites Swiss companies to invest in India

      Commerce and Industry Minister Piyush Goyal held a meeting in Bern with the leadership from several premier Swiss companies across diverse sectors and urged them to see India as a strategic hub for manufacturing, talent, and innovation New Delhi: Commerce and Industry Minister Piyush Goyal has invited Swiss companies to expand their footprint in India and take advantage of the country’s dynamic and rapidly growing market. The minister held a meeting in Bern with the leadership from several premier Swiss companies across diverse sectors and urged them to see India as a strategic hub for manufacturing, talent, and innovation. The discussions focussed on enhancing synergies between Indian and Swiss enterprises, with a special emphasis on innovation, technology transfer, and sustainable manufacturing,…

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    • 11 June
      295

      Crypto’s trend: Publicly traded companies buying bunches of bitcoin

      President Donald Trump’s media company just announced a plan to raise USD 2.5 billion to buy bitcoin, joining a growing number of so-called “bitcoin treasury companies” as the world’s most popular cryptocurrency hits all-time highs Washington: It’s one of crypto’s hottest trends: publicly traded companies buying bitcoin and then buying even more. President Donald Trump’s media company just announced a plan to raise USD 2.5 billion to buy bitcoin, joining a growing number of so-called “bitcoin treasury companies” as the world’s most popular cryptocurrency hits all-time highs. The companies buy bitcoin for different reasons: Some hold it as a hedge against inflation or to signal support for the cryptocurrency industry, while some firms have made using debt and stock sales to…

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    • 11 June
      378

      Indian Overseas Bank rolls out “Locate IOB” initiative; offers easy access to branches, ATMs

      Indian Overseas Bank’s ‘Locate IOB’ offers customers a simple and smart way to access addresses, directions, and IFSC codes for all IOB branches and ATM networks Chennai: Public sector Indian Overseas Bank announced the launch of the ‘Locate IOB’ facility enabling customers to easily find the nearest branches and ATM networks. The feature allows bank customers to access IOB’s new location tool directly at http://locate.job.in or at the bank’s website www.iob.in. ‘Locate IOB’ offers customers a simple and smart way to access addresses, directions, and IFSC codes for all IOB branches and ATM networks. It also enables users to call a branch directly from the website,” the city-headquartered bank stated in a press release on Tuesday. As more people use mobile phones…

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    • 11 June
      302

      TVS Motor launches 2025 TVS Apache RTR 200 4V with OBD2B compliance, enhanced features

      TVS launched the 2025 Apache RTR 200 4V with better performance, safety, and updated design. It’s OBD2B compliant, features ride modes, ABS, and LED lights. Priced from Rs 1.53 lakh, it celebrates 20 years of Apache motorcycles and 6 million riders Chennai: Two and three-wheeler manufacturer TVS Motor Company has unveiled 2025 TVS Apache RTR 200 4V range of motorcycles, now OBD2B compliant and equipped with advanced technology, superior performance and improved safety features. The new range of the motorcycle is available at all the company dealerships with prices starting at Rs 1,53,990 (ex-showroom Delhi). The launch also marks 20 years of Apache range of motorcycles, which already has six million riders worldwide. Besides OBD2B Compliance, the motorcycle has received additional…

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