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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

    • Mar- 2025 -
      21 March
      257

      RBI appoints Indranil Bhattacharyya as new Executive Director

      Prior to his promotion as ED, Indranil Bhattacharyya was serving as Adviser in the Monetary Policy Department of the RBI Mumbai: The Reserve Bank of India (RBI) on Thursday said it has appointed Indranil Bhattacharyya as executive director (ED). As executive director, Bhattacharyya will look after the Department of Economic and Policy Research, the RBI said in a statement. The appointment is effective from March 19. Prior to his promotion as ED, Bhattacharyya was serving as Adviser in the Monetary Policy Department of the RBI. Over a span of nearly three decades, he has worked in the areas of monetary policy, fiscal policy, banking, and international economic relations in the Monetary Policy Department, Department of Economic and Policy Research and the International…

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    • 21 March
      227

      Amazon, Intel, other global giants to slash huge workforce amid AI boom

      The rise of AI and global economic uncertainties are key reasons behind these layoffs. Amazon, one of the world’s largest e-commerce companies, is planning to eliminate approximately 14,000 managerial roles, according to reports New Delhi: Several major global companies, including Amazon, Morgan Stanley and Goldman Sachs, are planning massive job cuts in 2025 as they focus on reducing costs and streamlining operations in the artificial intelligence (AI) era. The rise of AI and global economic uncertainties are key reasons behind these layoffs. Amazon, one of the world’s largest e-commerce companies, is planning to eliminate approximately 14,000 managerial roles, according to reports. The company aims to save around $3 billion annually through this move. CEO Andy Jassy has set a goal to increase the ratio of individual contributors…

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    • 21 March
      166

      Ola’s sales figure mismatch: Government orders probe

      While the total number of registrations by Bhavish Aggarwal-owned Ola Electric on Vahan portal for February stood at 8,652, the company reported sales of over 25,000 units during the period New Delhi: The Heavy Industries Ministry has directed Automotive Research Association of India (ARAI) to probe the mismatch between Ola Electric’s reported sales figures and actual vehicle registrations along with numerous consumer complaints against the Bhavish Aggarwal-owned electric two-wheeler maker and submit a report within 15 days, sources said. While the total number of registrations by Ola Electric on the Vahan portal for February stood at 8,652, the company reported sales of over 25,000 units during the period. As of March 20, the company’s registrations stood at 11,781 on the Vahan portal. Ola…

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    • 21 March
      240

      Opinion: Union Budget 2025-26, MSME-friendly but ignores women workers

      While many reforms in the Budget focus on financial support to entrepreneurs, unfortunately, they do not address wage security or provide adequate support for women workers By B Renuka Ramakrishna, Dr Soumen Ghosh The Union Budget 2025-26 came out with several measures to ensure India’s faster development. The current year’s GDP growth is estimated to be around 6.4 per cent and it is appreciable to note that the government has brought down fiscal deficit from 4.8 per cent to 4.4 per cent, and aims to bring it further down in the following years. The Budget also strongly focuses on providing improved support to the MSMEs through various schemes and financial aids. Focus on Quality Micro, Small and Medium Enterprises (MSMEs)…

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    • 20 March
      237

      Adani Group enters Indian professional golf

      Adani Group to launch Adani Invitational Golf Championship 2025 in partnership with Kapil Dev-led Professional Golf Tour of India New Delhi: The Adani Group is set to enter Indian professional golf with the launch of the Adani Invitational Golf Championship 2025 in partnership with the Professional Golf Tour of India (PGTI), the official sanctioning body of men’s professional golf in India. “This Adani Group initiative intends to promote and broaden golf’s accessibility and elevate its status as a mainstream sport, and also to cultivate the next generation of global champions from India,” a company statement said. The inaugural tournament, offering a Rs 1.5-crore prize, will be held at Jaypee Greens Golf & Spa Resort, Greater Noida, from April 1-4, 2025, marking PGTI’s return…

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    • 20 March
      223

      Steel dump from China: India’s Commerce Ministry recommends 12 per cent safeguard duty on certain products

      Domestic steel players have raised concerns over increasing imports of steel from nations like China New Delhi: The Commerce Ministry’s investigation arm DGTR has recommended the imposition of a 12 per cent provisional safeguard duty for 200 days on certain steel products with an aim to protect domestic players from a surge in imports. Last year in December, the Directorate General of Trade Remedies (DGTR) started the investigation into the sudden surge in imports of ‘Non-Alloy and Alloy Steel Flat Products’, used in various industries, including fabrication, pipe making, construction, capital goods, auto, tractors, bicycles, and electrical panels. The investigations were conducted following a complaint from the Indian Steel Association. The directorate in its probe has preliminarily found that there is…

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    • 20 March
      225

      Uber India narrows losses to Rs 89 crore, expenses surge 26 per cent

      Employee costs accounted for nearly 68 per cent of overall spending, up 29.4 per cent to Rs 2,690 crore in the fiscal year ending March 2024 New Delhi: Ride-hailing major Uber India continued to struggle with profitability despite strong revenue growth, as rising expenses weighed heavily on its financial performance, its latest financials showed. The company’s total expenditure surged 26.4 per cent to Rs 3,977 crore in FY24, driven largely by employee costs, legal fees, advertising and operational expenses. Employee costs alone accounted for nearly 68 per cent of overall spending, growing by 29.4 per cent to Rs 2,690 crore in the fiscal year ending March 2024. However, Uber India managed to reduce its losses significantly. The company’s losses shrank by 71.4 per cent to…

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    • 20 March
      221

      Registrations of homes priced over Rs. 1 cr rise by 1 per cent in Hyderabad, overall registrations witness 16 per cent decline

      A strong shift toward premiumisation has emerged and homes priced at Rs.1 crore and above increased by 1 per cent YoY, accounting for 18 per cent of total registrations in February 2025 Hyderabad: In Hyderabad, registrations of homes priced above Rs.1 crore rose by 1 per cent year-on-year (YoY), even as overall registrations declined 16 per cent YoY. Knight Frank India’s latest assessment released on Wednesday while highlighting Hyderabad’s ongoing shift toward premium homes also documented that in recent months, registrations for homes priced below Rs. 50 lakh, which still makes up for more than half of the total transactions, have steadily declined. In February 2025, this segment saw a 20 per cent YoY drop. A strong shift toward premiumisation has emerged…

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    • 20 March
      230

      Rs 10,600 crore fertilizer project in Assam gets Cabinet nod

      The ammonia-urea complex will come up on the existing premises of the Brahmaputra Valley Fertiliser Corporation Limited at Namrup New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday, approved the proposal for setting up a new brownfield ammonia-urea complex in Assam with an annual capacity of producing 12.7 lakh tonnes of urea with an estimated total project cost of Rs 10,601.40 crore The new project will come up on the existing premises of the Brahmaputra Valley Fertiliser Corporation Limited (BVFCL) at Namrup in Assam. It will have a debt to equity ratio of 70:30 through a joint venture (JV), under the New Investment Policy, 2012 read with its amendments on October 7, 2014. The tentative overall…

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    • 20 March
      262

      India banned over 1,000 betting, gambling websites in 2024

      Ashwini Vaishnaw, Minister for Electronics and Information Technology, told the Lok Sabha that both State governments and the Centre have to work together to deal with such activities New Delhi: The government on Wednesday said there has been a significant improvement in tackling online gambling and betting activities, with more than 1,000 betting and gambling websites banned in 2024. Ashwini Vaishnaw, Minister for Electronics and Information Technology, told the Lok Sabha that both State governments and the Centre have to work together to deal with such activities. Responding to supplementaries during the Question Hour, the Minister asserted that whenever any instances of violations come to the notice of the central government, action is taken within the constitutional framework. Various members raised concerns about…

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