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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 -
      1 May
      235

      Income tax department notifies ITR forms 1, 4 for AY 2025-26

      ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers New Delhi: The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now, individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1. Earlier, such persons were required to file ITR-2. With the notification, individuals, HUFs, and firms having income up to Rs 50 lakh and those having earnings from business and profession in the 2024-25 fiscal (April-March) can start filing I-T returns…

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    • 1 May
      259

      Pakistan Stock Exchange slumps amid escalating tensions with India

      Shares at the PSX fell over 2,000 points in intraday trade amid uncertainty over speculation that India might launch military strikes against Pakistan Karachi: Trading in the Pakistan Stock Exchange (PSX) remained in the negative on Wednesday, owing to the escalating tensions with India following the terror attack in Jammu and Kashmir’s Pahalgam that killed 26 people. Shares at the PSX fell over 2,000 points in intraday trade amid uncertainty over speculation that India might launch military strikes against Pakistan. On Tuesday evening, Information Minister Ataullah Tarar added to the uncertainty by claiming that Pakistan had credible intelligence that India intends to carry out military action against it in the next 24-36 hours. Earlier in the day, Prime Minister Narendra Modi, in…

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    • 1 May
      222

      Rupee falls 19 paise to 85.15 amid India-Pakistan tensions and stronger dollar demand

      According to forex traders, escalating geopolitical tensions between India and Pakistan have triggered a risk-off sentiment in the market, weighing on the rupee. However, steady foreign fund inflows and stable crude oil prices helped limit the domestic currency’s decline. Mumbai: The rupee depreciated 19 paise to 85.15 against the US dollar in early trade on Wednesday, driven by renewed geopolitical tensions and increased demand for the US dollar, which together exerted pressure on the local unit. Forex traders said geopolitical tensions between India and Pakistan have sparked risk-off sentiment in the market leading to the rupee weakness. However, foreign fund inflows and crude oil prices cushioned the downside for the domestic unit. At the interbank foreign exchange, the domestic unit opened…

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    • 1 May
      289

      Sensex, Nifty rebound after early losses amid US market rally and FII inflows

      The 30-share BSE Sensex slipped by 232.51 points to 80,055.87 in early trade, while the NSE Nifty dropped 67.15 points to 24,268.80. However, both indices later clawed back their losses and moved into positive territory, with the Sensex rising 76.72 points to 80,365.10 and the Nifty gaining 23.30 points to reach 24,359.25. 1/2 Mumbai: Equity benchmark indices Sensex and Nifty bounced back after falling in early trade on Wednesday amid sustained foreign fund inflows and a rally in the US markets. The 30-share BSE benchmark gauge declined 232.51 points to 80,055.87 in early trade. The NSE Nifty dipped 67.15 points to 24,268.80. Later, both the benchmark indices recovered the early lost ground and were trading in the positive territory. The Sensex…

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    • Apr- 2025 -
      30 April
      235

      HMD, Lava join hands to launch ‘Direct-to-Mobile’ phones in India

      The D2M technology is expected to be revolutionary, enabling affordable feature phones, smartphones, and tablets to receive broadcasted content directly Hyderabad: Finnish mobile phone maker HMD and Indian smartphone manufacturer Lava on Monday announced that they will jointly launch Direct-to-Mobile (D2M) phones in India. This initiative is part of a joint venture with Free Stream Technologies (incubated at IIT-Kanpur), Tejas Networks, and Sinclair. The D2M technology is expected to be revolutionary, enabling affordable feature phones, smartphones, and tablets to receive broadcasted content directly. Through TV broadcast airwaves, users will be able to access a wide range of services including sports broadcasts, emergency notifications, and more — without requiring mobile internet or Wi-Fi connectivity. The official unveiling of this technology is expected…

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    • 30 April
      181

      IndusInd Bank’s accounting lapses: Deputy CEO Arun Khurana resigns

      The private sector lender had informed that a bank-appointed external auditor has determined a cumulative adverse accounting impact on P&L at Rs 1,959.98 crore as on March 31, which is similar to the amount disclosed on April 15 Mumbai: IndusInd Bank’s Deputy CEO Arun Khurana, who was overseeing the treasury front office function of the bank, has resigned in the wake of accounting lapses costing Rs 1,960 crore in the fiscal ended March 2025 to the lender. “Considering the recent unfortunate developments, wherein the Bank determined an adverse accounting impact on P&L, on account of incorrect accounting for internal derivative trades, I having oversight of the Treasury Front office function, as the Whole Time Director, Deputy CEO and a part of…

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    • 30 April
      203

      COAI backs govt move to tackle spam calls, messages from OTT platforms

      The Ministry of Electronics and Information Technology (MeitY) has decided to take the lead on this issue, as was conveyed during a recent meeting of the Joint Committee of Regulators (JCoR) New Delhi: The Cellular Operators Association of India (COAI) on Tuesday welcomed the government’s decision to step in and address the growing menace of spam and scam calls originating from Over-The-Top (OTT) platforms. The Ministry of Electronics and Information Technology (MeitY) has decided to take the lead on this issue, as was conveyed during a recent meeting of the Joint Committee of Regulators (JCoR). The industry sees this as a much-needed move, especially since spam and scam activities are increasingly shifting to OTT communication apps like WhatsApp, Signal, and others.…

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    • 30 April
      219

      US Treasury Secretary says ‘India is likely to be one of first to finalise BTA with US’

      “We’ve had many countries come forward and present some very good proposals, and we’re evaluating those.” “I would guess that India would be one of the first trade deals we would sign. So watch this space,” Bessent said Washington: US Treasury Secretary Scott Bessent has said that India is likely to be among the first countries to finalise a bilateral trade agreement with the US to avert reciprocal tariffs by President Donald Trump. Bessent made these remarks on Monday during an interview with CNBC’s Squawk Box’ to discuss the latest developments on President Trump’s trade negotiations with other countries. “Negotiations with our Asian trading partners are going very well. Vice President JD Vance was in India last week and talked about…

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    • 30 April
      172

      India, Netherlands agree to strengthen bilateral trade and economic cooperation

      The Commerce Secretary Sunil Barthwal’s visit from April 24-26 underlined India’s commitment to strengthening its economic engagement with the Netherlands New Delhi: India and the Netherlands have agreed to strengthen bilateral trade and economic cooperation at high-level meetings held by Commerce Secretary Sunil Barthwal during his visit to the European nation, according to an official statement issued on Tuesday. The Commerce Secretary’s visit from April 24-26 underlined India’s commitment to strengthening its economic engagement with the Netherlands, a key European partner. The discussions at the Ministry of Foreign Affairs and the Ministry of Economic Affairs laid the groundwork for enhanced collaboration. The CEOs Roundtable fostered new business connections, with Dutch companies expressing keen interest in India’s growing market and investment opportunities,…

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    • 29 April
      311

      RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes

      According to the circular, by September 30, 2025, 75 per cent of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette  Mumbai: The Reserve Bank of India on Monday asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to enhance the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner. “As part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators (WLAOs) shall ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis…,”…

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