BusinessLine (Delhi)
Europe warns of ‘downward spiral’ after US tariff threat
The eight European countries, targeted by US President Donald Trump with a 10 per cent tari for opposing American control of Greenland, blasted the move on Sunday, warning that the American leader’s threats “undermine trans-Atlantic relations and risk...
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CBDT not to reopen cases after Tiger Global SC ruling
In the wake of the Supreme Court ruling favouring the Income Tax Department in the matter of Tiger Global, the Central Board of Direct Taxes (CBDT) has confirmed to businessline that cases will not be reopened. This response seeks to reassure...
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Infy Q3 PAT down 9.6% q-o-q hit by new Labour Code provision
reported a decline in profit for the Decemberended quarter, with PAT falling 9.6 per cent sequentially and 2.2 per cent year-on-year to ₹6,654 crore. Despite the dip, the IT major raised its constant currency revenue growth guidance for FY26 to 3-3.5...
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India sees ‘little impact’ of US tariff for doing Iran business
US President Donald Trump’s latest announcement proposing a 25 per cent tari on countries doing business with Iran is likely to have “minimal impact” on India. Government sources told businessline that India’s trade with the sanctioned country is...
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Large NBFCs backed by banks may join RBI’s upper layer list
The Reserve Bank of India is likely to issue its updated list of upper layer non-banking financial companies (NBFCs) by mid-2026, sources say, and could add large NBFCs promoted by banks and strong promoters in the list. NBFCs that could potentially...
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Russia oil buy: Trump nod to 500% tariff Bill spooks markets
US Senator Lindsey Graham’s declaration that President Donald Trump has “greenlit” a Russia Sanctions Bill, which threatens 500 per cent taris on countries buying Russian energy, including India, China and Brazil, spooked the markets on Thursday,...
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Crorepati I-T filers surge 22% in AY26 even as tax base stagnates
The number of individuals declaring annual incomes of over ₹1 crore has increased sharply in India, even as the overall base of income-tax filers has seen minimal expansion, underscoring a growing concentration of reported income at the upper...
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Trump’s threat of higher tariffs on India could derail trade talks
US President Donald Trump has said that India is buying less oil from Russia because Prime Minister Narendra Modi is a “good guy” and wants to make him happy. But he warned that Washington can raise tari s on India “very quickly” if all purchases are...
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RBI may retain core components of flexible inflation targeting
The Reserve Bank of India (RBI) will likely retain the core components of the flexible inflation targeting (FIT) framework, as a majority of economists believe that the model of targeting headline inflation against core inflation, and maintaining a 2-6...
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‘Forest over trees’, the core message for 2026
“Forest over trees” is not a slogan here, it is a diagnosis. In early 2025, portfolios were built around what felt like the only two stories worth owning, AI and crypto. One had the promise of productivity miracles. The other had the promise of...
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Customs, CGST shortfall to derail FY26 indirect tax target
The spotlight is currently on the decline in income tax collections and falling direct tax revenue. But indirect tax collections of the Centre are also under stress in FY26. A businessline analysis of Controller General of Accounts (CGA) data shows...
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Net local GST mop-up dips 5% in Dec as festival sales end
With the end of festival sales and refunds surging, net domestic collection of the Goods and Service Tax in December declined over 5 per cent, data made public on the GST portal showed. However, a strong growth in Integrated Goods and Services Tax...
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With DPDP clock ticking, India Inc braces for ₹20,000 crore compliance spend
Privacy compliance is shaping up to be a major new cost centre for India Inc, with companies expected to spend nearly ₹20,000 crore in the first year of implementing the Digital Personal Data Protection (DPDP) Act, according to consulting...
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Defence forces get ₹79,000-cr boost to sharpen firepower
Proposals worth nearly ₹79,000 crore aimed at significantly enhancing the combat capabilities of the Army, the Navy and the Air Force were cleared by the Defence Acquisition Council (DAC) at its final meeting of 2025 on Monday. Chaired by Defence...
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Large banks mobilise record funds via certificates of deposit in 2025
Large banks raised record funds via certificate of deposit (CDs) issuances in calendar year 2025 as organic term deposit and low-cost current account and savings account (CASA) growth remained tepid, whereas credit growth saw sustained pickup, experts...
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8 of 10 BSE stocks did not beat ‘boring’ SBI FD
With just three trading sessions left this year, the Sensex is up 8.8 per cent in 2025. Yet, many investor portfolios have not felt that cheer. This is because nearly 79 per cent of actively-traded BSE stocks failed to beat SBI’s fixed deposit return...
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In a big AI push, Coforge acquires Encora for $2.35 b
At a time when Indian IT firms are recalibrating operations to deliver AI-based services, mid-cap tech services company Coforge took a big plunge into Artificial Intelligence on Friday by acquiring Silicon Valley-based ‘AI native’ company Encora for...
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Govt speeds up action to lease out 11 more airports
The proposal to lease 11 airports, including those at Amritsar, Varanasi, Bhubaneswar, Raipur and Tiruchirapalli, has gathered significant momentum. The plan was recently reviewed and approved by the Ministry of Civil Aviation, and the final...
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IndiGo to wet-lease 7 aircraft from Qatar Airways, Freebird
To boost domestic capacity, embattled airline IndiGo has entered into wet-lease agreements with Qatar Airways and Freebird Airlines, industry sources told businessline. In technical parlance, a wet-lease agreement involves leasing of aircraft along...
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India-NZ FTA: Delhi to get zero-duty access for all goods
India and New Zealand on Monday wrapped up negotiations for a free trade agreement (FTA) in a record nine months, setting the stage for zero-duty access for all Indian goods in the New Zealand market once the pact clears legal vetting and procedural...
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Securities Market Code likely to trigger early disclosure
The enactment of the Securities Market Code Bill, introduced in the Lok Sabha on the final day of the winter session and referred to the Standing Committee on Finance, could significantly alter market disclosures and add to the case load of the...
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What must change before FIIs return
Will FIIs’ return in 2026? Predictions in the past saying ‘FIIs cannot ignore India’, have fallen flat in recent years. This explains why instead of forecasting based on beliefs and biases as many experts have, investors would do well to pay heed to a...
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MUFG Bank picks 20% in Shriram Fin for ₹39,618 cr
Shriram Finance on Friday said it is entering into definitive agreements with Japan’s largest lender MUFG Bank for an investment of ₹39,618 crore ($4.4 billion) to pick 20 per cent stake in the NBFC via preferential issue of shares. This is the largest...
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Work days up but Centre may spend less in rural job scheme
The proposed increase in the statutory entitlement to 125 days of employment per household in the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G Bill) as compared with 100 days under the Mahatma Gandhi National Rural...
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LS passes Insurance Bill, hikes FDI cap to 100%
The Lok Sabha on Tuesday passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, ushering in wide-ranging reforms in the insurance sector, including raising the foreign direct investment (FDI) cap to 100 per cent from 74 per cent. The...
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Strong 19.4% export growth in Nov ‘evens out’ dip in Oct
India’s exports surged 19.4 per cent (year-on-year) in November to $38.13 billion, after contracting the previous month, powered by sectors such as engineering goods, gems & jewellery, pharmaceuticals, petroleum products and chemicals, along with a...
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US keeps up pressure on GM crops but India holds firm
The visiting high-level US trade delegation last week kept up pressure on India to approve access for American soya and corn as part of the bilateral trade pact under negotiation, despite concerns over the crops being genetically modified. The...
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FIIs sold ₹110 cr of equities every trading hour in 2025!
Foreign portfolio investors (FPIs) were relentless sellers of Indian equities through 2025 and are on course to recording the second-highest number of net sell days in a calendar year in two decades. With FIIs having been net sellers on 141 of 234...
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Now, Mexico hits India, others with 50% tariffs
In sync with the US, Mexico, too, has announced new import tari s on a range of products, mostly at 35 per cent but some up to 50 per cent, from India and several other Asian countries including China, Thailand and Indonesia. The tari s will come into...
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Stricter social media vetting delays visa interviews, triggering fresh uncertainties for H-1B workers
Sachin (name changed), an IT professional with an H-1B visa interview originally set for December, said he received an email notifying him that the appointment has been postponed to March. “I completed my biometrics and was preparing for the interview....
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Microsoft to invest $17.5 b to build India’s AI future
Tech giant Microsoft on Tuesday announced an investment of $17.5 billion in India between 2026 and 2029, the largest in Asia and among the biggest by a technology company so far. The announcement was made by Satya Nadella, Chairman and Chief Executive...
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Sberbank floats MF to invest Russia’s Re surplus in India
In a move that could reshape how sanctions-hit Russia deploys billions of stranded Indian rupees, Russia’s stateowned Sberbank is launching a closed-ended mutual fund linked to the Nifty50, eectively opening a direct route for Russian investors to put...
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IndiGo crisis: No one will go scot-free, says Aviation Minister
Asserting that accountability will be fixed for the ongoing chaos at airports across the country created by IndiGo’s mismanagement of the rollout of Flight Duty Time Limitations (FDTL) norms, Civil Aviation Minister Ram Mohan Naidu told businessline...
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Govt caps fares, asks IndiGo to clear refunds
The Centre has imposed a cap on airfares after taking cognisance of the unusually high tari¢s, even as the embattled IndiGo cancelled around 850 flights on Saturday. In addition, IndiGo has been directed to clear all pending passenger refunds without...
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Govt blinks, eases roster norms as IndiGo cancels 1,000 flights
The aviation regulator rolled back the recently implemented pilot rest-period norms after widespread flight disruptions left thousands of passengers stranded, with IndiGo cancelling more than 1,000 flights on Friday. Airports in Delhi, Chennai,...
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Chaos in the air as IndiGo cancels over 350 services
IndiGo will reduce its flight operations from December 8 to minimise disruptions caused by a shortage of pilots, the airline informed the Directorate General of Civil Aviation (DGCA). On Thursday, the airline cancelled over 350 flights, and more...
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Putin to address India’s trade gap while securing key deals
Russian President Vladimir Putin arrives in New Delhi on Thursday for a two-day visit, leading a delegation of senior Ministers and top business leaders across sectors, with a clear message that Moscow is ready to procure more from India and dent the...
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Rupee slide makes it one of the most undervalued EM units
As the rupee hit yet another lifetime low on Tuesday, losing 5.2 per cent so far this year, it still is one of the most undervalued emerging market currencies. With the rupee’s real eective exchange rate (REER), as computed by the Bank of...
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After rate cuts, GST mop-up rises a modest 0.7% in Nov
The first full month of GST rate cut yielded a moderate 0.7 per cent increase in November GST collections at ₹1.7 lakh crore, according to government data released on Monday. Government officials, however, maintained that the underlying consumption...
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Centre to table Bill for new national security, health cess
The Union government plans to introduce a new cess for national security and public health, with Finance Minister Nirmala Sitharaman set to table a Bill on Monday. Though not many details are available about the Bill, it seems the cess is expected to...
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Cryptocurrencies keep investors on edge
The world of cryptocurrencies is reeling from a massive $1.16 trillion wealth erosion over the past 50 days. Bellwether Bitcoin experienced a drawdown of 36 per cent from its peak of $126,198 on October 6 to a low of $80,660 on November 21, wiping out...
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RBI’s dollar sales soared to $26 b in Sept-Nov to steady Re
The rupee has been extremely weak this year, losing 6.5 per cent since May. While the RBI tapered its intervention in the rupee spot market after the first quarter of 2025, it stepped up forex interventions again since September. According to...
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Reliance JV’s $11 b investment signals data centre boom
Reliance Industries on Tuesday announced a major push into India’s fast-expanding data centre market, unveiling a $11 billion plan through its joint venture Digital Connexion to build a 1 gigawatt (GW) AI-ready data centre park in Visakhapatnam, the...
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NRI deposits dip 40% in H1 as India-US interest gap narrows
With declining interest rates and tougher economic conditions in economies like the US, fresh deposits into India by the diaspora have seen a sharp decline in FY26. RBI data show that additional NRI deposits garnered in April-September 2025 were $6.1...
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Banks mull criminal record check before loan sanction
Banks may soon go beyond checking credit scores, assessing cash flows and taking collateral when extending loans. They are considering adding a new filter — scanning applicants’ criminal records. Towards this end, lenders are weighing the legality of...
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MFI disbursements rebound sharply in Q2 after five quarters of slump
The worst may be over for microfinance institutions (MFIs) as disbursements showed meaningful year-onyear (y-o-y) growth in Q2FY26, after a hiatus of five quarters when disbursements were tepid or saw de-growth. LENDING MOMENTUM CreditAccess Grameen...
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Venu Srinivasan stopped new inductions in Sir Ratan Tata Trust
bl The Tata Trusts meeting on November 11 was not without drama. Venu Srinivasan, a trustee in the Sir Ratan Tata Trust (SRTT) and its Vice-Chairman, is learnt to have objected to the manner in which a resolution proposing to appoint Neville Tata and...
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Neville, Bhaskar Bhat named trustees of Dorabji Tata Trust
The Board of Trustees of Sir Dorabji Tata Trust, at a meeting on Tuesday, unanimously approved the induction of Bhaskar Bhat and Noel Tata’s son Neville Tata as trustees with e¨ect from November 12, 2025, for 3 years, a statement from Tata Trusts...
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8 killed, several injured in car blast near Capital’s Red Fort
A powerful explosion tore through a car parked near the Red Fort on Monday evening, setting nearby vehicles ablaze and leaving at least eight people dead and many injured, o¡cials said. According to the Delhi Fire Services (DFS), the blast occurred...
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SEBI detects ₹100-cr diversion in FOCL-linked SME IPOs
The Securities and Exchange Board of India (SEBI) has found evidence of siphoning of up to ₹100 crore of IPO funds in its ongoing probe into nearly 20 SME issues managed by merchant banker First Overseas Capital Ltd (FOCL), people familiar with the...
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Jitters in AI stocks put investors on alert
The week gone by was quite an eventful one for AI investors as they started feeling the tremors. Stocks such as CoreWeave, Super Micro Computer and SoftBank tanked over 20 per cent. These three stocks have lost 44 per cent, 40 per cent and 22 per cent,...
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HAL signs $1 b engine deal with GE to power LCA Mk1As
In a major boost to India’s indigenous fighter jet programme, Hindustan Aeronautics Ltd (HAL) on Friday signed a major contract with General Electric (GE), US, for the supply of 113 F404GE-IN20 engines and associated support packages to power the next...
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Developed India needs more big, world-class banks: FM
India needs many big and world-class banks. The government will engage with the RBI and banks towards this end, said Finance Minister Nirmala Sitharaman. This observation comes in the backdrop of the Modi government’s vision to transform the country...
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New AI regime prefers adaptive regulation to another law
The government on Wednesday unveiled the AI Governance Guidelines, which do not propose a new law to regulate artificial intelligence but underscore the urgent need for a comprehensive review of existing statutes to identify regulatory gaps in relation...
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Banks seek higher exposure limit for M&A financing
Banks have sought tweaks to the Reserve Bank of India’s draft acquisition finance guidelines, including higher exposure limits, permission to fund unlisted companies’ merger and acquisition (M&A) plans, and approval to finance corporates acquiring...
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Govt can reassess all AGR dues of Vi, says SC
The Supreme Court on Monday clarified that the Union government can comprehensively assess and reconcile all adjusted gross revenue (AGR) dues of Vodafone-Idea up to the financial year 2016-17 in accordance with the Deduction Verification Guidelines of...
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SEBI hits pause on T+0 settlement plan amid muted demand, liquidity fears
The Securities and Exchange Board of India (SEBI) is understood to have hit pause on its plan to expand the T+0 settlement cycle, extending the deadline indefinitely after negligible investor interest, wafer-thin pilot volumes and concerns that a dual...
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Auto sales vroom on GST 2.0, festival demand
Improved consumer sentiment, GST 2.0 reforms, discounts from Original Equipment Manufacturers (OEMs) and easy financing schemes helped automakers post healthy sales in October. The country’s largest passenger vehicle maker, Maruti Suzuki India,...
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In a first, Ford to make engines outside US at Chennai plant
US auto giant Ford will revive its Maraimalai Nagar factory near Chennai by setting up its first powertrain facility outside the US at a cost of ₹3,250 crore, Martin Everitt, Global Director, Powertrain Manufacturing Engineering, Ford Motor Company,...
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China opens rare earth exports in major relief to Indian firms
More than six months after it imposed export restrictions on rare earth materials, China has issued licences for the export of rare earth magnets to some Indian companies, the Ministry of External A airs has confirmed. The situation eased after the...
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Trump says trade deal with India on track; silent on tariffs
US President Donald Trump has indicated that the longnegotiated Bilateral Trade Agreement (BTA) with India is on track, but did not share details on where the discussions are stuck or whether a pact could be sealed despite New Delhi buying Russian...
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IndianOil to get Russia crude from non-sanctioned entities
India’s largest refiner and fuel retailer, Indian Oil Corporation, said on Tuesday that it will continue to buy Russian crude oil from nonsanctioned entities and use the services of non-sanctioned shipping lines as there were no sanctions on the...
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Economy humming on GST 2.0, festival boom
As the global economy battles policy volatility with slowing demand in China and sticky inflation in advanced economies, India remains an outlier with robust domestic demand and policy reforms, said the Finance Ministry’s Monthly Economic Review,...
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Municipal bonds now eligible for repo, reverse repo deals
The Finance Ministry has allowed the use of municipal bonds as security for repo and reverse repo transactions, enabling municipal bodies to raise funds for infrastructure projects. By making these bonds acceptable collateral for shortterm borrowing,...
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SIPs have the edge amid market swings
The frontline index Nifty 50 touched 26,000 levels on October 23 after nearly 13 months when it last closed at record highs (September 27, 2024). As markets chartered a volatile path over the past year or so, equity mutual funds from the top five...
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India will not do a deal with deadlines or gun to head: Goyal
India will not do a deal with deadlines or with a “gun to our head”, said Commerce Minister Piyush Goyal even as legal texts are being readied in areas of convergence in the ongoing India-US bilateral trade agreement (BTA) negotiations. “We are...
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Refiners cut down Russian oil buy as US intensifies pressure
Fresh sanctions by the US on Russian oil majors Rosneft and Lukoil have forced Indian refiners like Reliance Industries (RIL) to ‘recalibrate’ import strategies, with others confirming that they too are ‘evaluating’ supplies from Moscow. The US Oce...
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Tata trustees inch towards resolution of core issues
Following his reappointment to the board of the Tata Trusts, Venu Srinivasan emailed his fellow trustees on October 21. The mail read: “My dear fellow trustees, thank you very much for the confidence reposed in me, and for the kind words that have been...
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Festivals deliver blockbuster sales of vehicles & durables
A blockbuster Dhanteras-Diwali weekend topped a bigbang festival season sales for the consumer products industry, specifically automobiles and durables segments. Companies expect the robust sales momentum to continue with the onset of the wedding...
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Banks light up Diwali with cashback offers, rate cuts
From cashbacks to discounts, zero foreclosure charges, sharply discounted processing fees and lower interest rates, banks have rolled out a host of o ers to garner maximum business during Diwali 2025. The country’s largest private lender HDFC Bank is...
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Will FIIs return to Atmanirbhar markets this Samvat?
As Dalal Street gears up to celebrate Samvat 2082, Wall Street is in sombre mood again. A few bad loans at Zions and Western Alliance have rattled US bank investors, reviving memories of the 2023 regional banking mess after Silicon Valley Bank’s...
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After a dull year, markets look ahead to sparkling Samvat 2082
Samvat 2081 delivered the weakest performance since Samvat 2078, with precious metals such as gold and silver stealing the show by delivering better returns, but marketmen are hoping for a turnaround in Samvat 2082, though they advocate a selective...
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Diwali dhamaka: Durables sales sparkle on GST cuts
Consumer durables makers and retailers are seeing a blockbuster Diwali, with sales soaring 40-45 per cent since the GST 2.0 rollout on September 22. Companies said demand momentum had been strong across categories, led by premium products, and expect...
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Hyundai shifts into top gear in India with ₹45,000 cr plan
Signalling India’s growing centrality to its global vision, South Korean auto giant Hyundai Motor Company (HMC) on Tuesday announced a ₹45,000 crore investment plan through 2030, aimed at expanding capacity, strengthening R&D and launching 26 products,...
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Google to invest $15 billion over 5 years in AI hub at Vizag
Tech giant Google on Tuesday announced a $15 billion investment over 2026–2030 to set up India’s first artificial intelligence (AI) hub in Visakhapatnam, Andhra Pradesh, in partnership with the Adani Group and Bharti Airtel. The project, being...
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EPFO relaxes norms, early withdrawals up to 100% allowed
The Central Board of Trustees (CBT) on Monday approved a proposal to ease partial withdrawals, allowing up to 100 per cent from Employees Provident Fund (EPF). This will benefit more than 7 crore subscribers. In a statement, the Labour Ministry said...
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