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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 -
      3 April
      206

      ‘Uber for Teens’ rolls out in Hyderabad, other major cities

      A key feature of ‘Uber for Teens’ is that it allows parents to have oversight on the rides their children book, says the company New Delhi: Ride-hailing major Uber on Wednesday announced the launch of a new service called ‘Uber for Teens’ in India, which, the company claimed, is designed to offer safe and reliable transportation options for teenagers aged 13 to 17 years in the country. This service has been rolled out across 37 cities in the country, including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai and Kolkata, among others. The service comes with a set of strict safety protocols, including GPS tracking, real-time ride tracking, and an in-app emergency button. “This is to ensure that both teens and their parents feel…

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    • 2 April
      188

      RBI at 90: Enduring partnership between RBI and government essential, says President Murmu

      Speaking at the closing ceremony of the commemoration of 90th year of Reserve Bank of India, President Murmu lauds RBI for taking proactive measures to strengthen and safeguard a secure banking environment Mumbai: President Droupadi Murmu on Tuesday said technological advancements are increasing the risks of financial frauds and underlined the need for an “enduring partnership” between the central bank and the government for maintaining macroeconomic stability. Speaking at the closing ceremony of the commemoration of the 90th year of the Reserve Bank of India, Murmu lauded the RBI for taking proactive measures to strengthen and safeguard a secure banking environment. “With the rapid advancement of technology, the risk of financial fraud and cyber threats is also increasing,” she said, adding that this…

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    • 2 April
      199

      ATF rates slashed. Will air travel get cheaper?

      The rates of commercial LPG that is used in hotels and restaurants were also reduced by Rs 41 per 19-kg cylinder. However, for cooking gas used in domestic households, the price remains unchanged at Rs 803 New Delhi: The price of jet fuel, or ATF, on Tuesday was cut by a steep 6.1 per cent and the rates of commercial LPG that is used in hotels and restaurants were reduced by Rs 41 per 19-kg cylinder in the monthly revision done in line with benchmark international prices. The Aviation Turbine Fuel (ATF) price was reduced by Rs 5,870.54 per kilolitre, or 6.15 per cent, to Rs 89,441.18 per kl in the national capital – home to one of the busiest airports…

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    • 2 April
      233

      Sensex crashes by 1,390 points as US ‘Liberation Day’ fear grips Indian markets

      US President Donald Trump plans to roll out a set of reciprocal tariffs on April 2, which he says will be ‘Liberation Day’ for the US Mumbai: Stock markets went into a tailspin on Tuesday with benchmark Sensex plunging by 1,390 points due to selling in IT and private banking shares amid heightened uncertainty ahead of the anticipated roll out of US reciprocal tariffs on April 2—termed as ‘Liberation Day’ by President Donald Trump. Starting the new financial year on a losing note, the 30-share BSE Sensex tanked 1,390.41 points or 1.80 per cent to settle at 76,024.51 as 28 of its components ended lower and only two advanced. During the day, the index plummeted 1,502.74 points or 1.94 per cent to 75,912.18.…

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    • 2 April
      209

      Zomato slashes 600 jobs; hits employees in Hyderabad, Gurugram

      According to reports, the company had hired nearly 1,500 employees last year through its Zomato Associate Accelerator Program to fill customer support roles. However, in recent weeks, many of these employees have been let go without any prior notice New Delhi: Zomato, the popular online food delivery platform, has reportedly laid off up to 600 customer support employees, just a year after hiring them. The reported layoffs came as the company faces challenges in its core food delivery business and rising losses in its quick commerce subsidiary, Blinkit. According to reports, the company had hired nearly 1,500 employees last year through its Zomato Associate Accelerator Program (ZAAP) to fill customer support roles. However, in recent weeks, many of these employees have been let go…

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    • 2 April
      217

      Opinion: Echoes of ‘Imperial Presidency’ — Unilateral America in a multipolar world

      Will Trump’s actions have enough firepower to bulldoze a new hierarchy in the American polity and the world order at large? By Monish Tourangbam America’s unipolar moment was long gone, with analysts singing swansong of its unchallenged power and trumpeting the rise of the rest. That the United States was still the largest economy in the world, with an unparalleled military power was undeniable, but it was also becoming increasingly clear that such an enormous power was being wielded amid a number of rising powers. One country in particular, China, had come threateningly close to becoming a peer competitor in the international system, and more starkly in the Indo-Pacific region. So, the geopolitical script that the world had gotten used to…

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    • Mar- 2025 -
      31 March
      264

      “Can y’all chill, our team needs sleep,” says OpenAI CEO Sam Altman after Ghibli images take over internet

      On March 25, OpenAI introduced its newest AI-powered image generator, integrated with ChatGPT’s GPT-4o model. This feature allows users to refine images iteratively and maintain consistency across multiple edits. New Delhi: OpenAI CEO Sam Altman on Sunday urged users to reduce their usage of ChatGPT’s latest image generation feature, citing overwhelming demand. In a post on social media platform X, he said: “Can yall please chill on generating images this is insane our team needs sleep (sic)”. Despite his appeal, many users were not convinced, with some even suggesting that he should fire his team. Responding to one such post, Altman defended his team, saying they had built one of the biggest websites in the world in just 2.33 years. “No thanks. In…

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    • 31 March
      256

      Explained: Key I-T rule changes for salaried employees from April 1

      From a higher tax-free income limit to changes in TDS rules, these revisions will impact every taxpayer in India. One of the biggest reliefs for taxpayers is the increase in the tax-free income limit under the new tax regime New Delhi: As the new financial year begins on April 1, several changes in income tax rules will come into effect. These updates, announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025, aim to simplify the tax system and provide relief to salaried employees. From a higher tax-free income limit to changes in TDS rules, these revisions will impact every taxpayer in India. One of the biggest reliefs for taxpayers is the increase in the tax-free income limit under the new tax…

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    • 30 March
      410

      Kapil Dev lauds Adani Group’s commitment to promoting golf in India

      Adani Group also announced its entry into Indian professional golf with the launch of the ‘Adani Invitational Golf Championship 2025’ Ahmedabad: Ahmedabad witnessed a landmark moment for Indian golf with the launch of the Adani-PGTI Golf Training Academy at the Belvedere Golf & Country Club. The initiative, a joint venture between the Adani Group and the Professional Golf Tour of India (PGTI), aims to elevate golf’s presence in India and cultivate a new generation of global champions. Adding to the excitement, the Adani Group also announced its entry into Indian professional golf with the launch of the ‘Adani Invitational Golf Championship 2025’. Cricket legend Kapil Dev, who attended the launch event, lauded the Adani Group’s commitment to promoting golf and other…

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    • 29 March
      334

      Rupee gains 18 paise to 85.56 against US dollar on strong foreign inflows

      According to forex dealers, foreign investors have injected over USD 2 billion into Indian equities over the past four days, while month-to-date inflows into Indian bonds have surpassed USD 3 billion. However, the local currency’s sharp appreciation remained limited as investors weighed the potential economic impact of rising global trade concerns. Mumbai: The rupee appreciated 18 paise to 85.56 against the US dollar in early trade on Friday, as sustained foreign fund inflows provided support to the local unit. Forex dealers said over the past four days, foreign investors have pumped over USD 2 billion into Indian equities, while month-to-date inflows into Indian bonds have exceeded USD 3 billion. However, sharp upside for the local unit was restricted as investors grappled…

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