Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Kamal has a crisp pen when it comes to writing short and yet powerful film dialogues. But while speaking ex tempore -- and that has been his style -- he looks every bit a confused man, observes N Sathiya Moorthy.
The bench referred to three reports submitted by the cyber cell police which said the beneficiaries were added to the bank account without any message or OTP received on the registered mobile number and email to the registered email account.
'I don't think it is going to be easy for India to get him back.'
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
Macrotech Developers (Lodha), the country's second-largest listed real estate company, exceeded its 2024-25 (FY25) guidance, aided by a strong pre-sales performance in the January-March quarter (Q4), driven by launches. The company had guided for Rs 17,500 crore in pre-sales for FY25 and surpassed that with bookings of Rs 17,630 crore.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
Ahmedabad civic authorities launched a massive demolition drive on Tuesday, razing over 2,000 illegally constructed houses and properties in the Chandola Lake area. The operation, which involved around 50 teams equipped with earthmovers and 2,000 police personnel, was carried out days after illegal Bangladeshi immigrants were detained from these settlements. The Gujarat High Court declined to stay the action, observing that the dwellings were situated on the periphery of the water body and therefore subject to demolition under the Land Revenue Code. Authorities also demolished the illegal farmhouse of Lalu Pathan, alleged mastermind behind the encroachments, who is suspected to have helped illegal immigrants obtain rental accommodation and Aadhaar cards.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Private sector lender Yes Bank on Saturday reported a 46.7 per cent growth in net profit to Rs 502 crore for the June 2024 quarter, helped by a reduction in provisions. The city-headquartered bank's core net interest income rose 12.2 per cent to Rs 2,000 crore. Its net interest margin stayed flat at 2.4 per cent.
Companies may foot less of the tax bill for some time yet. The corporate share of net direct tax collections has been lower in 2024-25 than in previous years. The corporate segment accounted for 45.6 per cent of total net direct tax collections as of March 16, compared to 48.1 per cent on the same date in 2023-24 (FY24).
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Numerous players and coaches, including England captain Harry Kane, have voiced concern over player welfare with the revamped Club World Cup meaning less time off between seasons.
States are mandated to develop and implement 'heat HAPs' for prevention of heat-induced diseases. But most do not go beyond standard advisory on heat prevention.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
Israelis and Palestinians rejoiced as they reunited with loved ones after the hostages-prisoners swap deal between Hamas and Israel.
Modi alleged that the Congress government in Karnataka gave reservations in tenders based on religion, "snatching the rights of SCs, STs and OBCs." But Ambedkar had said there would not be reservation based on religion and there is a bar on giving reservation on the basis of religion in the Constitution, he stressed.
India's flexible (flex) office segment, having breached pre-pandemic levels, is thriving as corporates, startups, multinational corporations, and global capability centres (GCCs) expand in India, seeking low-capital yet Grade A plug-and-play facilities. In the first quarter (Q1) of 2025, the flex office segment continued to grow, with flex space leasing rising by 22 per cent to 2.2 million square feet (msf), according to Colliers.
The escalating military tension between the two nations, a deluge of information, and the inability to sift through fake and real news can significantly affect the psychological well-being of individuals, said mental health experts.
Dubai is positioning itself as a springboard for Indian companies looking to tap into fast-growing emerging markets, including Africa, banking on low tariffs, long-standing trade relations, and a shared vision for regional economic growth, said Mohammad Ali Rashid Lootah, president and chief executive officer, Dubai Chambers, at the Dubai-India Business Forum in Mumbai.
'Earlier, our cost of funds was higher than most in the peer group.'
The growth was primarily driven by domestic investments, which accounted for 60 per cent of the total inflows during the first quarter of the financial year.
Billionaire Gautam Adani's group is in advanced talks to acquire real estate company Emaar India for an enterprise value of around $1.4-1.5 billion as it looks to expand its property business, according to sources. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
... resulting in a Rs 2 trillion economic spinoff.
The glimpses of the "Maha Kumbh Mela", or the Great Pitcher Festival, in Prayagraj, January 13, 2025.
'He surprised us by telling us he wanted to make a career in acting.' 'We were scared since we knew nothing of this profession but then, he landed a role in Mira Nair's Monsoon Wedding.' 'After seeing him holding his own on screen, we decided to let the boy pursue his passion.'
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
The recent stampede at New Delhi Railway station, which claimed the lives of at least 18 people, highlights a recurring issue in India: deadly stampedes. This tragedy is not an isolated incident, as numerous stampedes resulting in significant casualties have occurred over the years. This article explores some of the most devastating stampedes in India, including the deadly event at the Mahakumbh in Prayagraj just a few weeks ago, the 2024 tragedy at a 'satsang' in Hathras, and the 2013 stampede during Navratri festivities in Madhya Pradesh.
'Balancing tunnel developments with ecological realities is a major challenge and, when overlooked, can contribute to mishaps.'
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
MBSG have added the ISL trophy to their League Winners' Shield they had won earlier in the season for a ISL double.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
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