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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

    • May- 2025 -
      20 May
      330

      Smartphones surpass petroleum and diamonds to become India’s top export in FY25

      For the first time, smartphones have become India’s top export in FY25, overtaking traditional leaders like petroleum products and diamonds. The shift signals a major transformation driven by domestic manufacturing push and global demand for India-assembled mobile device New Delhi: Smartphones have officially become India’s top exported good in FY25, overtaking traditional heavyweights like petroleum products and cut diamonds, as per latest government figures. Backed by government support and strong local manufacturing by tech giants like Apple and Samsung, smartphone exports rose 55 per cent to $24.14 billion in 2024-25, compared to $15.57 billion in the previous fiscal and $10.96 billion in 2022-23. According to the data, the United States and Japan saw the biggest jump in shipments over the last…

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    • 20 May
      344

      India, Maldives sign 13 MoUs to enhance ferry services, implement projects under Indian grant assistance

      The signing ceremony took place at the Ministry of Foreign Affairs, marking another milestone in the ever-strengthening partnership between the two countries, the Maldives’ Ministry of Foreign Affairs said in a statement Male: India has signed 13 MoUs with the Maldives for enhancing ferry services in the island nation with an MVR 100 million grant, expanding maritime connectivity and uplifting community livelihoods. The MoUs signed on Sunday are for projects to be implemented under the Indian grant assistance scheme—High Impact Community Development Project (HICDP) Phase III. The signing ceremony took place at the Ministry of Foreign Affairs, marking another milestone in the ever-strengthening partnership between the two countries, the Maldives’ Ministry of Foreign Affairs said in a statement. The 13 projects…

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    • 20 May
      336

      Restrictions on Bangladesh readymade garment imports to empower Indian RMG manufacturers: CITI

      In a recent notification issued by the office of the Director General of Foreign Trade (DGFT), India has suspended imports of all types of readymade garments from Bangladesh through land ports New Delhi: The move by the government to restrict all types of readymade garments (RMG) from Bangladesh through land ports is going to increase cost of imports of Bangladesh garments and create new opportunities for domestic RMG manufacturers, the Confederation of Indian Textile Industry (CITI) said on Sunday. In a recent notification issued by the office of the Director General of Foreign Trade (DGFT), India has suspended imports of all types of readymade garments from Bangladesh through land ports. As per the trade data, India imported RMG worth $634 million…

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    • 19 May
      373

      Power Minister to attend BRICS Energy Ministers’ Meeting in Brazil

      Lal will showcase the country’s achievements in the power sector over the past decade at BRICS Energy Ministers’ Meeting on May 19 New Delhi: Union Minister Manohar Lal will showcase the country’s achievements in the power sector over the past decade at BRICS Energy Ministers’ Meeting on May 19, an official statement said on Saturday. Lal is on an official visit to Brazil to attend the meeting, a power ministry statement said. He will showcase the country’s achievements in the energy sector over the past decade, including a 90 per cent increase in power capacity, leadership in renewable energy, green hydrogen, and biofuels, as well as innovations and sustainable development. India will also reaffirm its commitment to ensuring equitable access to…

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    • 19 May
      368

      Govt to develop digital platform for e-filing of documents in trade remedy probes

      The trade remedy investigations are carried out by the commerce ministry’s arm Directorate General of Trade Remedies (DGTR) New Delhi: The government is developing a digital platform to enable the electronic submission of documents in trade remedy investigations with a view to further promoting transparency, efficiency, and ease of access for all stakeholders, an official statement said on Saturday. These investigations are carried out by the commerce ministry’s arm Directorate General of Trade Remedies (DGTR). Since 1995, India has initiated over 1,200 trade remedy investigations and recent interventions have protected domestic sectors, including solar energy and advanced materials, such as solar cells and copper wire rods, from unfairly priced imports and subsidised goods. “Looking ahead, the government is developing a digital…

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    • 19 May
      389

      India will play lead role in shaping upcoming 6G technology regulations: Scindia

      The Union Minister of Communications also asserted that in the days to come, India will play a leading role in tailoring rules for 6G technology Gwalior: A telecommunication revolution is rapidly unfolding across the globe and India is at the forefront of this movement under the leadership of Prime Minister Narendra Modi, said Union Minister Jyotiraditya Scindia on Saturday. The Union Minister of Communications also asserted that in the days to come, India will play a leading role in tailoring rules for 6G technology. “The rollout of 5G technology has taken place, and in just 22 months, the information revolution has reached 82 per cent of the population of 99 percent of districts in the country. India will take the lead…

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    • 19 May
      320

      India’s seafood exports increase despite global uncertainties

      The country exported 16.85 lakh metric tonnes of marine products in the financial year ended March 31, 2025, which represents an over 60 per cent jump. In value terms, the exports grew to $7.2 billion from $5.4 billion in FY15 New Delhi: India’s seafood exports have recorded a robust growth of 17.81 per cent in April this year to $0.58 billion as the country continues to play a key role as the fourth largest producer of marine products in the international market, according to figures compiled by the Commerce and Industry Ministry. The country exported 16.85 lakh metric tonnes of marine products in the financial year ended March 31, 2025, which represents an over 60 per cent jump. In value terms,…

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    • 19 May
      417

      US-based firm Vast keen to collaborate with ISRO on Bharat Antariksh Station

      Vast has offered to collaborate with ISRO. India plans to launch the first module of the Bharat Antariksh Station in 2028 and complete it by 2035. New Delhi: US-based space habitation company Vast has offered to collaborate with ISRO for the Bharat Antariksh Station that the Indian space agency plans to set up by 2035. Vast CEO Max Haot held discussions with Indian Space Research Organisation (ISRO) officials earlier this month for a possible collaboration in the field of space technology and offered to host Indian scientists and engineers on the space station his company plans to send to orbit next year. The California-based company plans to launch Haven-1, a single-module space station, on a SpaceX Falcon 9 rocket in May…

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    • 19 May
      457

      Bangladesh faces Rs 6,600 crore hit due to India’s curbs on trade

      India’s Directorate General of Foreign Trade (DGFT) issued a notification imposing land port restrictions on the import of goods such as readymade garments, processed food items etc., from Bangladesh to India with immediate effect New Delhi: India’s decision to restrict imports from Bangladesh is expected to hit goods worth $770 million (Rs 6,600 crore) that flow in through the cross-border trade points with the neighbouring country. “Readymade garments, valued at $618 million (Rs 5,290 crore), now face strict routing through only two Indian seaports. This severely limits Bangladesh’s most valuable export channel to India,” said Ajay Srivastava, founder of think-tank Global Trade Research Initiative (GTRI). The other goods that have been barred from entry into India through the land customs stations…

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    • 19 May
      351

      Restrictions on Bangladesh readymade garment imports to empower Indian RMG manufacturers: CITI

      In a recent notification issued by the office of the Director General of Foreign Trade (DGFT), India has suspended imports of all types of readymade garments from Bangladesh through land ports New Delhi: The move by the government to restrict all types of readymade garments (RMG) from Bangladesh through land ports is going to increase cost of imports of Bangladesh garments and create new opportunities for domestic RMG manufacturers, the Confederation of Indian Textile Industry (CITI) said on Sunday. In a recent notification issued by the office of the Director General of Foreign Trade (DGFT), India has suspended imports of all types of readymade garments from Bangladesh through land ports. As per the trade data, India imported RMG worth $634 million…

      Read More »
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