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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 -
      9 June
      186

      Starlink gets licence for satcom services in India

      Starlink is the third company to secure the licence from the Department of Telecom (DoT). DoT sources confirmed that Starlink has indeed received licence, and said they will be granted trial spectrum in 15-20 days of applying for it New Delhi: Elon Musk’s Starlink has got licence for satcom services in India, according to sources. Starlink is the third company to secure the licence from the Department of Telecom (DoT). DoT sources confirmed that Starlink has indeed received licence, and said they will be granted trial spectrum in 15-20 days of applying for it. Earlier, telecom operator Bharti Airtel said it has partnered with Elon Musk’s SpaceX for providing Starlink‘s high-speed internet services to its customers in India. This agreement is…

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    • 9 June
      178

      Very little scope for further policy rate cut: Sanjay Malhotra

      Reserve Bank Governor Sanjay Malhotra on Friday said there is very little scope for rate cut in the current circumstances after the central bank reduced the policy rate by 50 basis points Mumbai: Reserve Bank Governor Sanjay Malhotra on Friday said there is very little scope for rate cut in the current circumstances after the central bank reduced the policy rate by 50 basis points, taking the total reduction to 100 bps since February. Addressing media after unveiling bi-monthly monetary policy, Malhotra said, future monetary policy actions will depend upon incoming data. “There is now very limited space for the monetary policy, actually, given the current circumstances…growth (projection) is about 6.5 per cent, inflation, we are projecting at 3.7 per cent…

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    • 9 June
      164

      FM Nirmala Sitharaman says India now has 1.76 lakh registered startups, 118 unicorns

      The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns, thus fueling youth entrepreneurship: Finance Minister Nirmala Sitharaman New Delhi: The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns (startups with $1 billion valuation and above), thus fueling youth entrepreneurship, Finance Minister Nirmala Sitharaman said on Friday. In a post on social media platform X, the Finance Minister said that “youth in India are building startups and creating jobs”. This is “a glimpse of the work done for the youth in the last 11 years under the guidance of Prime Minister Narendra Modi“, she posted. Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said in…

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    • 9 June
      190

      OYO plans to double hotel revenue by FY26

      OYO expects to double revenue from its company-serviced hotels by FY26, raising their contribution to 44%. With over 1,300 such hotels in India, OYO plans further expansion across cities as part of its profitability and customer experience focus. New Delhi: IPO-bound global travel tech platform OYO on Friday said it expects to raise booking revenue from company-serviced hotels to 44 per cent from 22 per cent by the end of current financial year, as part of its increasing focus on India and premium property expansion. OYO presently operates over 1,300 company-serviced hotels in India, primarily featuring its mid to premium segment brands, including Townhouse, Townhouse Oak, Capital O, Palette, and SUNDAY. The share of company-serviced hotels in OYO’s portfolio is also…

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    • 9 June
      149

      RBI booster: EMIs, tenure set to come down for home loan borrowers

      RBI will directly benefit home loan borrowers, especially existing ones, by reducing their interest burden, experts said New Delhi: The jumbo 50 bps rate cut by the Reserve Bank of India (RBI) will directly benefit home loan borrowers, especially existing ones, by reducing their interest burden, experts said on Friday. The decision comes at a pivotal time, as India, now the world’s fourth-largest economy, is witnessing strong real estate momentum across metros as well as tier 2 and 3 cities. “Lower lending rates will directly enhance home loan affordability, particularly in interest-sensitive categories like mid-income and affordable housing. Reduced EMIs are expected to significantly improve buyer sentiment and encourage first-time homebuyers to enter the market,” said Shekhar G Patel, President, the…

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    • 9 June
      156

      RBI retains FY26 GDP forecast at 6.5 per cent; says Indian economy shows strength, stability, opportunity

      The FY26 growth projections are compared with the 6.5 per cent economic growth recorded in the 2024-25 fiscal year. The Reserve Bank of India (RBI) has projected economic growth at 6.5 per cent for the June quarter and 6.7 per cent for the September quarter Mumbai: Reserve Bank on Friday retained GDP growth projections for the current fiscal at 6.5 per cent, saying the Indian economy presents a picture of strength, stability and opportunity in the backdrop of global uncertainty. The FY26 growth projections are compared with the 6.5 per cent economic growth recorded in the 2024-25 fiscal year. The Reserve Bank of India (RBI) has projected economic growth at 6.5 per cent for the June quarter and 6.7 per cent…

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    • 9 June
      281

      RBI to raise gold loan-to-value ratio to 85 per cent for small borrowers of up to Rs 2.5 lakh

      The increase in the loan-to-value ratio for small loans means that if the gold pledged is worth Rs one lakh, borrowers can get up to Rs 85,000 as a loan, up from Rs 75,000 Mumbai: Reserve Bank Governor Sanjay Malhotra on Friday said the central bank will raise the Loan-to-Value (LTV) ratio for gold loans to small borrowers of up to Rs 2.5 lakh to 85 per cent from the existing 75 per cent. Speaking at a press conference after the monetary policy meeting, he said the final regulations on gold loans will be announced today or latest by Monday. The increase in the loan-to-value ratio for small loans means that if the gold pledged is worth Rs one lakh, borrowers…

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    • 7 June
      228

      Cryptocurrencies hamper financial stability: RBI Governor

      RBI Governor Sanjay Malhotra said the central bank is concerned about cryptocurrencies as it can hamper financial stability Mumbai: RBI Governor Sanjay Malhotra on Friday said the central bank is concerned about cryptocurrencies as it can hamper financial stability. Malhotra was replying to a question during a media interaction post the RBI monetary policy about the developments in the backdrop of the Supreme Court’s observation on cryptocurrency last month. “There is no new development as far as crypto is concerned. A committee of the government is looking after this. Of course, as you are aware, we are concerned about crypto because that can hamper financial stability and monetary policy,” Malhotra said. The Supreme Court last month asked the Centre to formulate…

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    • 7 June
      219

      Repo Rate and CRR cuts: A double boost for affordable housing amid global headwinds

      While the rate cut is a strong positive for real estate, especially for affordable housing, much now depends on how well it can adapt to higher input costs and ongoing global uncertainties By Anuj Puri As widely anticipated, the RBI decided to reduce the repo rates by 50 bps (to 5.5%) to the backdrop of moderating inflation in the country. This is the third consecutive time this year that the apex bank has cut the repo rates. This effectively lowers the cost of borrowing, making home loan EMIs easier on the pocket and thereby directly improving affordability for buyers. This can potentially boost demand in the Indian real estate sector, especially in affordable and mid-income segments. Affordable housing faced the sharpest pandemic…

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    • 7 June
      219

      RBI cuts repo rate by 50 bps to 5.5 pc as inflation eases to 3.2 pc

      RBI Governor Sanjay Malhotra announced a 50 bps repo rate cut to 5.5% amid falling inflation, now at 3.2%. The central bank also slashed CRR by 100 bps in phases, while shifting its policy stance from accommodative to neutral. Mumbai: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. A lower policy rate leads to a decline in interest rate on bank loans which makes borrowing easier for consumers as well as businesses resulting in higher consumption and investments in the economy leading to higher…

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