BusinessLine (Kolkata)
IDFC First Bank appoints KPMG to probe ₹590 cr fraud
IDFC First Bank on Monday said it has appointed KPMG as the forensic auditor to investigate the ₹590 crore fraud at its Chandigarh branch, involving Haryana government accounts. The bank’s MD and CEO, V Vaidyanathan, said the lender will “spare no...
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SEBI board meet on Mar 23 may review conflict of interest rules
The Securities and Exchange Board of India (SEBI) board meeting scheduled for March 23 is expected to discuss the conflict of interest framework for senior officials again, along with likely proposals on netting of funds for foreign portfolio investor...
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Trump ups tariff to 15%, a day after levying 10% post SC ruling
The US reciprocal tariffs of 18 per cent on Indian goods, established under the framework IndiaUS interim trade deal, have been invalidated following a Friday ruling by the US Supreme Court striking down President Donald Trump’s “illegal” tariffs. In...
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In 6-3 ruling, US Supreme Court strikes down Trump’s global tariffs
The US Supreme Court on Friday struck down President Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, rejecting one of his most contentious assertions of his authority in a ruling with major...
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Tech titans hail India as emerging AI rule-maker
The AI Summit on Thursday saw the cream of global tech titans celebrate India’s progress in artificial intelligence with CEOs highlighting India’s role as not just a power user of AI, but also a rule maker demonstrating how AI can be used to achieve...
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Sarvam AI unveils two home-grown large AI models
Sarvam AI on Tuesday unveiled two new large language models (LLMs) at the India AI Summit — a 30billion and a 105billionparameter model — both outperforming comparable models in their respective size categories on key benchmarks. In April 2025,...
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India’s sovereign push gathers pace as local firms roll out AI models
India’s push for sovereign AI took concrete shape on Tuesday as BharatGen, Gnani.ai and Sarvam unveiled new models spanning language, voice and realworld interfaces, signalling a shift from being a user of global artificial intelligence tools to...
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Nifty50 firms take ₹13,000 cr hit in Q3 on new Labour Codes
The implementation of the new Labour Codes from November 21, 2025, resulted in companies having to make large one-time adjustments in their books in the third quarter of FY26 to increase the reserves maintained for employees’ social security...
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‘Needle hunting’ starts pricking stock investors
Index fund pioneer John Bogle’s famous line about buying the haystack, instead of hunting for the needle, feels like a cliché in bull markets. But in the last 12 months or so, stock investors searching for the needle felt the prick as the odds flipped...
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Bank credit, deposit rebound signal economic momentum
A robust pickup in credit and deposits in the last fortnight of January indicates that the Indian economy is gathering steam, shrugging off headwinds arising from higher US tariffs, global trade fragmentation and geopolitical tensions. Credit and...
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DAC clears ₹3.25 lakh crore deal for 114 Rafale fighter jets
The ₹3.25 lakh crore deal to acquire 114 Rafale fighter aircraft from France’s Dassault Aviation, set to be India’s biggestever defence purchase, advanced to its next stage on Thursday after the Defence Acquisition Council (DAC) cleared it ahead of...
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India’s first LLM takes shape as Sarvam expands AI stack
India’s effort to build a sovereign Large Language Model has moved from promise to platform, with Bengalurubased Sarvam AI unveiling the country’s most ambitious push yet to create an indigenous AI stack even as global giants race ahead on...
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US pushes India to remove digital tax, ease e-trade rules
The US has upped the ante on India’s digital and energy policies as the two countries work towards finalising the bilateral trade deal. The White House put out a factsheet on the bilateral trade deal on Monday, noting that India will remove its...
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Chronicling the journey of India’s pharma industry
From the need to take bold decisions, including making an early entry into the biological products segment, to pushing for greater ‘acceptability’ of Indian medicines in the domestic market, founders and promoterfamily members from top domestic...
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‘Every trade deal provides for a re-balancing of concessions’
Union Commerce Minister Piyush Goyal declined to spell out the specifics of the American claim that India committed to stop purchasing Russian oil as part of the IndiaUS framework interim trade agreement, even as it emerged that Washington could...
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Trump cuts duty on slew of goods from India; New Delhi reciprocates
New Delhi In a major relief for India’s exporters, the US has halved tariffs on labourintensive Indian goods — including textiles, leather, footwear and plastics — to 25 per cent through an executive order issued on Friday. Washington has also agreed...
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MPC holds repo rate on favourable growth and inflation outlook Budget heralds a new era of ‘competitive indigenisation’
The RBI’s Monetary Policy Committee, as widely expected, voted unanimously for a status quo on the repo rate amid a favourable growth outlook and low underlying inflation. Further, in an indication that interest rates in the economy may have bottomed...
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India-US trade pact timeline set; first tranche in 4-5 days
India on Thursday established a definitive timeline for its high-stakes Bilateral Trade Agreement (BTA) with the US. On the sidelines of a GCC event, Commerce Minister Piyush Goyal said the two sides will sign a joint statement on the first tranche of...
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Tech stocks tank as Anthropic AI tools raise questions on SaaS model
Fears that agentic AI tools, such as Anthropic’s Claude Cowork plugins, could automate core enterprise processes and disrupt the traditional SaaS model triggered a sharp selloff in global tech stocks, including US software majors, and wiped out over...
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Our deal with US better than that of competitors: Goyal
India has secured a better trade deal than its global competitors with the United States, leveraging Prime Minister Narendra Modi’s rapport with President Donald Trump, to slash reciprocal tariffs from 50 per cent to 18 per cent, said Commerce Minister...
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If you profit from secondary market SGB deal, govt deserves its share: FM
Finance Minister Nirmala Sitharaman firmly defended the new taxation regime for Sovereign Gold Bonds and the increased Securities Transaction Tax on futures and options (F&O). Talking to businessline on Monday, in her first postBudget interview, she...
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FM Sitharaman takes a shot at the future
Finance Minister Nirmala Sitharaman faced a challenge while framing the Budget for 202627. With tax reforms all done in recent times, what was it that she could do new this year? She turned to the future. Laden with intent, some backed with resource...
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Fiscal prudence: India holds the line, others slip
As the Finance Minister readies to present the Budget for FY27 on Sunday, all eyes will be on the fiscal deficit number. In this context it would be worth revisiting the contrasting fiscal trajectories that have emerged over the past few years, wherein...
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Crashing gold, silver drag ETFs down as investors book profits
The precious metals complex plunged on Friday with investors booking profits as they saw no more confrontation between US President Donald Trump and the Fed. Over the past few weeks, investors switched to gold from currencies and bonds seeing a threat...
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India is an oasis of stability in a turbulent world: Economic Survey
The Economic Survey on Thursday underscored India’s strongest economic performance in decades, projecting GDP growth for 202627 at 6.87.2 per cent at a time when the global system no longer rewards economic success with currency stability, assured...
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FTA: India sets up guardrails against EU’s green measures
India’s strategic inclusion of a rapid response mechanism (RRM) and a nonviolation complaints (NVC) provision in the IndiaEU Free Trade Agreement is extremely significant in the context of regulations, such as the EU’s Carbon Border Adjustment...
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India-EU ‘mother of all’ trade deals signals an era of shared prosperity
India and the European Union clinched a landmark free trade agreement (FTA), hailed by leaders as the ‘mother of all trade deals’, which is set to boost shipment of labourintensive Indian goods by eliminating tariffs on 90 per cent of exports (by...
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Govt plans Fertilizer Mission to cut imports, chemical use
The government is likely to announce a ‘Mission on Fertilizers’ in the upcoming Budget. The mission is aimed at reducing the use of chemical fertilizers and cutting the subsidy bill. Sources said the mission may also include incentives to promote...
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Nifty 500 ranks lowest globally in dividends
Over the past two decades, India’s equity market has recorded the lowest average dividend yield among major global markets. Bloomberg data show that the 20year average dividend yield yearonyear for Nifty 500 constituents stood at just 1.3 per cent —...
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Stocks slump on FPI selling spree; rupee hits a new low
Equity benchmarks closed sharply lower with the Sensex and Nifty 50 shedding 2.4-2.5 per cent for the week, even as the broader markets suffered the steepest weekly fall in four months, while the rupee crashed to a new low on Friday. The pain in the...
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Bulk of India’s exports lose EU duty preference benefits
In yet another blow to India’s exporters, already grappling with US tariffs, the EU extending import tariff preference to India under the Generalised System of Preferences (GSP) has been fully suspended on some 87 per cent of the country’s exports to...
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Trump says ready to pick the next Federal Reserve chair
US President Donald Trump said he has interviewed several strong candidates for the Federal Reserve chair, but complained that nominees tend to change once they take office. “Everyone that I interviewed is great. Everyone could do, I think, a...
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Govt sets up panel to allot slots vacated by IndiGo
The government has put in place a mechanism to redistribute slots vacated by IndiGo following a 10 per cent cut in its schedule even as the airline operator is stepping up pilot hiring to sustain operations. While a committee has been appointed to...
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Govt mulls reforms to help SEZs leverage home market
The government is considering announcing a reforms package for Special Economic Zones as part of Budget 202627 to boost manufacturing competitiveness and help exporters better leverage the domestic market as they grapple with global uncertainties and...
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Amid equity churn, select debt funds find winners
Even as equity markets have remained volatile over the past 1516 months, select debt fund categories have delivered good returns. The topperforming funds in the medium duration mutual fund category clocked doubledigit returns — up to 13.6 per cent...
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Infy Q3 PAT down 9.6% q-o-q hit by new Labour Code provision
Infosys reported a decline in profit for the Decemberended quarter, with PAT falling 9.6 per cent sequentially and 2.2 per cent yearonyear to ₹6,654 crore. Despite the dip, the IT major raised its constant currency revenue growth guidance for FY26 to...
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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 tariff 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 nonbanking financial companies (NBFCs) by mid2026, sources say, and could add large NBFCs promoted by banks and strong promoters in the list. NBFCs that could potentially...
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Govt relief on AGR payments opens doors for Voda Idea to get bank funding support
Debtridden Vodafone Idea will pay its dues to the government in instalments of ₹100124 crore over the next 10 years, paving the way for banks to provide funding support to the company. In an exchange filing, Vi confirmed receiving a communication...
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GDP seen growing 7.4% in FY26 led by manufacturing, services
Fuelled by strong performances by the services sector and manufacturing, the Statistics Ministry on Wednesday estimated the real GDP growth for 202526 at 7.4 per cent compared to 6.5 per cent in the last fiscal year. Although the nominal growth is...
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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 tariffs 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 26...
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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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‘Economy growing well, but faces near-term external risks’
While India’s economy continues to grow strongly and the domestic financial system remains sound, both face nearterm risks from external uncertainties from further escalation in geopolitical and trade tensions and widening geoeconomic fragmentation,...
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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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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 lowcost 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 activelytraded 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 AIbased services, midcap tech services company Coforge took a big plunge into Artificial Intelligence on Friday by acquiring Silicon Valleybased ‘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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Bharti & Warburg to buy 49% stake in Haier India
In a strategic move, Bharti Enterprises and Warburg Pincus announced that they will together acquire 49 per cent in Haier India, whollyowned subsidiary of the Chinese consumer electronics and appliance major Haier Group, for an undisclosed...
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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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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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Securities Markets Code Bill tabled in LS to replace 3 laws
Finance Minister Nirmala Sitharaman on Thursday introduced the Securities Markets Code, 2025, in the Lok Sabha, seeking to unify India’s fragmented securities laws into a single, principlebased framework to streamline regulation and enforcement. The...
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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 wideranging 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 (yearonyear) 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 highlevel 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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Bank credit expansion outpaces deposit growth
With bank credit expansion outstripping deposit growth, the gap between the two widened to 123 basis points (bps) as of November 28, a far cry from the near parity a year ago. As of November 28, all scheduled banks clocked a yearonyear credit and...
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Most major States report sluggish growth in ‘own tax revenue’ in FY26; Gujarat bucks trend
At a time when Goods and Services Tax rates have been lowered and the States don’t receive GST compensation cess either, their own tax revenue (OTR) becomes more significant. A businessline analysis of OTR data compiled by CAG shows that the growth of...
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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 sanctionshit Russia deploys billions of stranded Indian rupees, Russia’s stateowned Sberbank is launching a closedended mutual fund linked to the Nifty50, effectively opening a direct route for Russian investors to...
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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 tariffs, 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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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 effective 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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Q2 GDP hits 6-quarter high of 8.2% on services, manufacturing push
Boosted by strong growth in the manufacturing and services sectors, economic growth in the JulySeptember quarter (Q2) of 202526 surged to 8.2 per cent, data from the Statistics Ministry released on Friday showed. With two successive quarters of...
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