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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 -
      4 June
      227

      India’s approach to AI regulation is pro-innovation: IndiaAI CEO Abhishek Singh

      India’s AI strategy is pro-innovation and people-centric, focusing on responsible, ethical, and safe AI applications New Delhi: India’s approach to AI has been pro-innovation with an aim to build applications that are responsible, safe, and that make a difference to the lives of common people, IndiaAI CEO Abhishek Singh said on Tuesday. Singh, who is also the Additional Secretary at the Ministry of Electronics and Information Technology (MeitY), was speaking during the 5th and final Stakeholder Consultation on the AI Readiness Assessment Methodology (RAM) in India. “India’s approach has been pro-innovation. Our approach has been to have light-touch regulation with the objective of preventing harm… preventing user harm. “India’s strategy for AI is to build AI in India, make AI work…

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    • 4 June
      243

      Sitharaman urges DRI to boost coordination with state agencies to nab masterminds

      FM Nirmala Sitharaman asked the DRI officers to investigate “holistically,” keeping the big picture in focus and not merely chasing “isolated infractions” New Delhi: Finance Minister Nirmala Sitharaman on Tuesday asked revenue intelligence officers to develop better coordination with State and central agencies and expeditiously work on “actionable intelligence” to nab masterminds behind smuggling syndicates. Stressing that narcotics have become the “biggest threat” and schools and colleges are the “first victims” of drug abuse, Sitharaman said it is to be stopped by the DRI and then coordinated with the State police. “We need to have greater coordination and greater understanding of the size as well as scope of the threat,” she added. Sitharaman also asked the DRI officers to investigate “holistically,”…

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    • 3 June
      211

      RBI says Rs 2000 notes worth Rs 6,181 crore still in circulation

      Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation Mumbai: The high-value Rs 2000 notes worth Rs 6,181 crore are still in circulation after two years of the Reserve Bank withdrawing the currency, according to official data released on Monday. Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,181…

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    • 3 June
      207

      Royal Enfield sales jump 26 per cent to 89,429 units in May

      RE reported a 26 per cent jump in total sales at 89,429 units in May, as compared to 71,010 units in the same month last year New Delhi: Mid-size motorcycle maker Royal Enfield on Monday reported a 26 per cent jump in total sales at 89,429 units in May, as compared to 71,010 units in the same month last year. Domestic sales were at 75,820 units last month, as against 63,531 units in May last year, up 19 per cent, Royal Enfield said in a statement. Exports grew by 82 per cent to 13,609 units last month, as compared to 7,479 units in the year-ago month. “This month, we’ve continued to build on our momentum with steady growth in India and international markets,”…

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    • 3 June
      182

      Hyundai sales decline 8 per cent in May at 58,701 units

      The company’s total sales stood at 63,551 units in May last year, Hyundai Motor India Ltd (HMIL) said in a statement New Delhi: Hyundai Motor India on Monday said its total sales declined 8 per cent year-on-year to 58,701 units in May. The company’s total sales stood at 63,551 units in May last year, Hyundai Motor India Ltd (HMIL) said in a statement. The automaker said its dispatches to dealers in the domestic market declined 11 per cent to 43,861 units in May as compared with 49,151 units in the year-ago period. Exports stood at 14,840 units last month as against 14,400 units in May 2024. “May is a month of our routine week-long biannual maintenance shutdown at our Chennai manufacturing facility, which…

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    • 3 June
      203

      Sensex, Nifty slide over 750 points amid weak Asian cues, Trump’s steel tariff hike, and FII outflows

      Benchmark indices Sensex and Nifty slumped sharply on Monday amid weak Asian market cues, renewed trade war fears after Trump’s steel tariff hike, and continued FII selling. India’s strong Q4 GDP growth offered some support despite global market volatility. Mumbai: Benchmark equity indices Sensex and Nifty on Monday morning tumbled following weak trends in Asian markets and renewed global trade concerns. Moreover, foreign fund outflows also dented investors’ sentiment, experts noted. The 30-share BSE Sensex tanked 762.24 points to 80,688.77 in early trade. The NSE Nifty dropped 212.25 points to 24,538.45. From the Sensex firms, HDFC Bank, HCL Tech, Reliance Industries, Infosys, Tech Mahindra, Bajaj Finance, Larsen & Toubro, Titan, Tata Consultancy Services and Tata Steel were among the biggest laggards.…

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    • 3 June
      193

      Rupee gains 12 paise amid weak dollar, strong GDP growth and hopes of RBI rate cut

      The rupee rose 12 paise to 85.43 against the US dollar on Monday, buoyed by weak global cues and robust GDP data. Analysts await RBI’s rate decision and PMI data as markets remain volatile amid foreign fund outflows and high oil prices. Mumbai: The rupee appreciated by 12 paise to 85.43 against the US dollar in early trade on Monday on the back of a weak American currency and favourable macroeconomic data that fuelled hope of a further reduction in key interest rate in the RBI’s upcoming monetary policy. However, a volatile equity market, outflow of foreign funds and higher crude oil prices amid global trade related uncertainties weighed on the Indian currency, according to forex traders. Analysts also said that…

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    • 3 June
      187

      UPI transactions see 23 pc rise at Rs 25.14 lakh crore in May

      The Unified Payments Interface (UPI) has posted a robust recover in the month of May by processing 18.68 billion transactions, up from 17.89 billion in April New Delhi: The Unified Payments Interface (UPI) has posted a robust recover in the month of May by processing 18.68 billion transactions, up from 17.89 billion in April. As per data by the National Payments Corporation of India (NPCI), the UPI transactions mark a 33 per cent year-on-year (YoY) surge compared to 14.03 billion transactions in the same month last year. The UPI transactions rose to Rs 25.14 lakh crore (by value) last month, a 5 per cent increase from Rs 23.95 lakh crore in April. This reflects a 23 per cent rise from Rs…

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    • 3 June
      152

      India to raise issues on agriculture, fisheries, investment facilitation during WTO meet on June 3 in Paris

      The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris New Delhi: India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said. The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris. Commerce and Industry Minister Piyush Goyal will participate in this meeting. He is on a five-day visit to France and Italy from June 1. The official said that India will raise its…

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    • 3 June
      189

      Kia India dispatches up 14 per cent at 22,315 units in May

      Kia India reported a 14 per cent year-on-year increase in dispatches to dealers in the domestic market New Delhi: Kia India on Sunday reported a 14 per cent year-on-year increase in dispatches to dealers in the domestic market in May. The company billed 22,315 units last month as compared with 19,500 units in May 2024. The newly launched Carens Clavis received an overwhelming response from customers, reaffirming Kia’s ability to meet evolving consumer expectations and deliver aspirational, value-driven products, Kia India said in a statement. “Our strong sales performance in May reflects the growing resonance of Kia’s diverse offerings across segments,” Kia India Senior Vice President and National Head of Sales & Marketing Hardeep Singh Brar stated. The momentum validates the…

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