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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

    • Apr- 2025 -
      11 April
      194

      Trump announces 90-day pause on tariffs over global uncertanity

      The moves triggered a powerful stock market rally on Wall Street but left businesses, investors and America’s trading partners bewildered about what the president is attempting to achieve WASHINGTON: President Donald Trump delivered another jarring reversal in American trade policy on Wednesday, suspending for 90 days import taxes he’d imposed barely 13 hours earlier on dozens of countries while escalating his trade war with China. The moves triggered a powerful stock market rally on Wall Street but left businesses, investors and America’s trading partners bewildered about what the president is attempting to achieve. The U-turn came after the sweeping global tariffs Trump announced last week set off a four-day route in global financial markets, paralyzed businesses and raised fears the US…

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    • 10 April
      154

      BharatPe receives licence from RBI to operate as an online payment aggregator

      The authorisation will allow Resilient to facilitate various payment-related services, including transactions through its own payment gateway, a statement from BharatPe said New Delhi: BharatPe Group firm Resilient Payments has received final authorisation from the RBI to operate as an online payment aggregator. The authorisation will allow Resilient to facilitate various payment-related services, including transactions through its own payment gateway, a statement from BharatPe said. “Resilient Payments Pvt Ltd, a BharatPe Group company, has received final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator,” the statement said. The company plans to scale its payment solutions across a broader merchant base, deepen its presence in tier 2 and 3 cities, and invest in building advanced…

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    • 10 April
      176

      RBI to expand ambit of co-lending to enhance credit flow

      The present framework limits co-lending to partnerships between banks and non-banking financial companies (NBFCs) to priority sector lending such as agriculture, micro-enterprises and loans to weaker sections New Delhi: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced a major proposal to liberalise the RBI‘s co-lending guidelines for banks and NBFCs to expand their ambit beyond priority sector lending to which they are currently restricted. The present framework limits co-lending to partnerships between banks and non-banking financial companies (NBFCs) to priority sector lending such as agriculture, micro-enterprises and loans to weaker sections. The RBI now plans to introduce a more inclusive framework that to include all regulated entities and all types of loans. The extant guidelines on co-lending are applicable only to…

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    • 10 April
      174

      RBI rate cut and accommodative stance welcomed by banks; Expected to boost loan demand, economic growth

      The 25 basis points rate cut is expected to boost demand for home, auto, and personal loans, particularly in tier 2 and tier 3 markets, where borrowers are more sensitive to interest rates, said Binod Kumar, MD and CEO of Indian Bank. With retail loans having grown over 18 percent year-on-year, a lower interest rate environment could further drive consumption and strengthen economic momentum. New Delhi: Leading banks on Wednesday said that the RBI rate cut, coupled with the revision in stance to accommodative, is a swift and timely move and a forward guidance to the market to stay supportive against evolving global uncertainties, along with empowering the consumers. The 25bps rate cut is likely to spur demand for home, auto,…

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    • 10 April
      241

      IIM Ahmedabad to open campus in Dubai

      The campus, which will be set up in Dubai International Academic City, is expected to be launched later this year. It will offer one-year MBA course for global market New Delhi: Indian Institute of Management (IIM) Ahmedabad is set to establish its international campus in Dubai and has signed an MoU with the UAE government, officials announced on Wednesday.The campus, which will be set up in Dubai International Academic City, is expected to be launched later this year. A Memorandum of Understanding (MoU) was signed on Tuesday between IIMA Director Bharat Bhasker and Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, in the presence of Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. “Signing of…

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    • 10 April
      203

      I’m not Sanjay of Mahabharat: RBI Governor

      The RBI Governor’s remarks came at a media briefing on being asked if more interest rate cuts are in the offing Mumbai: I am Sanjay but not Sanjay of Mahabharat who can predict future rate actions and at what level rate moderation will stop amid the ongoing global uncertainties, RBI Governor Sanjay Malhotra said on Wednesday. Malhotra’s remarks came at a media briefing on being asked if more interest rate cuts are in the offing, after he delivered the second straight interest rate cut since taking over as the RBI Governor. According to the Mahabharat, Sanjay was blessed with divine vision and used his power to relay actions at the Kurushetra battlefield to blind King Dhritarashtra at his palace. He further said…

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    • 9 April
      344

      LinkedIn unveils list of top 25 companies in India for 2025

      As per the list, Tata Consultancy Services retained the top spot, followed by Accenture (#2) and Infosys (#3) Hyderabad: LinkedIn, a professional network, on Tuesday unveiled the 2025 top companies list for India, showcasing 25 large companies where professionals can grow their careers. As per the list, Tata Consultancy Services retained the top spot, followed by Accenture (#2) and Infosys (#3). With Cognizant ranked (#5), this year’s list highlighted the dominance of Computer, IT and Software sectors in offering career progress opportunities in India. Core skills in development tools, data storage technologies and enterprise software remained central to companies hiring focus, particularly in Bengaluru, Hyderabad and Chennai. Nearly half – 12 out of 25 companies — are new to this year’s…

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    • 9 April
      230

      Rupee sinks 50 paise, settles at 86.26 against US dollar

      The Indian currency logs the maximum single-day loss on April 8. It earlier recorded such a steep loss in one session on January 13 this year, when it had depreciated by 66 paise  Mumbai: Declining for the third straight session, the rupee tumbled 50 paise to settle at 86.26 (provisional) against the US dollar on Tuesday, logging the maximum single-day loss in nearly three months amid a looming global trade war stoking fears of economic meltdown. According to forex traders, some recovery in crude oil prices and continued foreign capital outflows also dented sentiments. Besides, the global markets have been facing extreme volatility following a fresh threat by the US administration to impose a punitive 50 per cent tariff against China’s retaliatory 34…

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    • 9 April
      230

      Hyderabad-based Cyient to invest $100 million in semiconductor business

      The company is also looking at raising capital from an external investor by September and is in the process of appointing merchant bankers Mumbai: Domestic technology company Cyient has earmarked a USD 100 million investment for its newly carved out semiconductor business, a top official said on Tuesday. The Hyderabad-headquartered company is also looking at raising capital from an external investor by September and is in the process of appointing merchant bankers for the same, officials said. Without quantifying the amount that it is targeting to raise, its Executive Vice Chairman and Managing Director Krishna Bodanapu said the money will be deployed for the talent-intensive research and development efforts. Bodanapu said the board has already committed USD 100 million for the…

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    • 9 April
      205

      Apple may export more iPhones from India amid global uncertainties: Report

      The US tech giant is considering this move as a temporary solution to reduce the rising cost of importing products from China, according to a report by The Wall Street Journal. New Delhi: Tech giant Apple is planning to increase its iPhone exports from India to the United States to avoid the high tariffs placed on Chinese goods. The US tech giant is considering this move as a temporary solution to reduce the rising cost of importing products from China, according to a report by The Wall Street Journal. This comes after the US government recently imposed a 34 per cent tariff on Chinese imports, in addition to a 20 per cent duty announced earlier. In retaliation, China also slapped a 34 per cent…

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