'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
The merged InsuranceDekho-RenewBuy entity aims to significantly expand its distribution network across India, offering insurance, mutual funds, and loans, with a strong focus on 'Bharat' (rural India), according to CEO Ankit Agarwal.
The Supreme Court has agreed to hear a plea by senior advocate Kapil Sibal challenging the interpretation of the Tenth Schedule's 'deemed merger' provision, which allows MLAs and MPs to avoid disqualification under the anti-defection law, citing its 'huge repercussions on our polity'.
The Shiv Sena (UBT) has approached the Supreme Court to challenge Lok Sabha Speaker Om Birla's decision to approve the merger of six of its MPs with the Eknath Shinde-led Shiv Sena. The plea was mentioned before a bench for an urgent hearing.
Vodafone Idea (Vi) significantly reduced its losses in Q1 FY27 to approximately 3,754 crore, driven by an exceptional gain and increased average revenue per user (Arpu). The company also reported its first net subscriber additions since its 2018 merger, indicating a positive shift in its operational trajectory.
Lok Sabha Speaker Om Birla has approved the merger of six Shiv Sena (UBT) MPs with the Eknath Shinde-led Shiv Sena and allowed separate seating for 20 rebel TMC lawmakers who joined the Nationalist Citizens Party of India (NCPI), ahead of the Monsoon session.
A day after 20 rebel Trinamool Congress MPs announced their merger with the Nationalist Citizens Party of India (NCPI), a senior functionary of the outfit questioned the decision, claiming the party leadership had never been consulted on the move and that such a decision could not be taken unilaterally.
The Trinamool Congress (TMC) has dismissed "baseless" rumours of a possible merger with the Congress, despite recent meetings between TMC supremo Mamata Banerjee and Congress leaders Sonia Gandhi and Rahul Gandhi, which occurred amidst significant internal rebellion within the TMC following its recent electoral defeat in West Bengal.
Sashidhar Jagdishan, the managing director and chief executive of HDFC Bank, has opted out of being considered for reappointment after his current term ends on October 26, choosing to retire after nearly three decades with the lender.
'The sales pressure on the ground, a board and CEO not fully aligned, and a senior team that isn't pulling together -- that's when these things surface.'
Potential external candidates include Anup Bagchi, Rajiv Sabharwal and CSB Bank's Pralay Mondal.
Shares of HDFC Bank rose nearly 3 per cent after its Managing Director and Chief Executive Sashidhar Jagdishan decided not to seek reappointment after his current term concludes on October 26.
'The changes in its leadership team will help address the scepticism that has engulfed the bank over the recent period.'
Rebel leader Ritabrata Banerjee has declared his dissident camp as the 'real Trinamool Congress,' claiming the support of 64 MLAs and a growing number of MPs, and explicitly stating they have no plans to merge with the Congress.
Speculation about a possible rapprochement or merger between the Congress and the Trinamool Congress (TMC) has exposed deep divisions within the Congress's West Bengal unit, with senior state leaders vocally opposing any alliance with Mamata Banerjee.
The Trinamool Congress (TMC) is facing a deepening internal crisis marked by fresh resignations and an escalating rebellion, even as its national general secretary Abhishek Banerjee met Congress leader Rahul Gandhi to discuss opposition coordination and the future of the INDIA bloc.
The Sikkim home department has filed an FIR to investigate the creation and circulation of a forged document falsely attributed to Union Home Minister Amit Shah, which claimed a merger of Sikkim and Darjeeling.
The Janata Dal (United) is considering a proposal to rename the party as 'JD(U)-Nitish' to honour its leader Nitish Kumar, a move supported by key aides but criticised by the RJD, which suggests it indicates an impending split within the party.
Samsung India Electronics has initiated job cuts in its Consumer Electronics (CE) division, laying off 8-10 mid-to-senior-level employees with plans to let go of another 40-50 staff. This move is part of a cost-rationalisation exercise driven by rising input costs, muted consumer demand, and intense competition from rival Korean and Chinese players.
The Nationalist Citizens Party of India (NCPI), previously obscure, has gained national attention after 20 rebel TMC MPs merged with it. The Tripura-based party now claims to be the largest parliamentary bloc from West Bengal, holding 20 Lok Sabha seats. Its registered address in Howrah is linked to a couple running an NGO, and a founder member has expressed support for PM Modi and a desire to join the NDA.
Twenty rebel Trinamool Congress Lok Sabha MPs have merged with the obscure Nationalist Citizens Party of India (NCPI), a move seen by political observers as a strategic way to support the BJP-led NDA without immediately joining the saffron party and bypassing legal complexities.
The Lok Sabha Secretariat has issued notices to 20 rebel Trinamool Congress (TMC) MPs, seeking their replies within seven days regarding petitions filed by TMC leader Abhishek Banerjee for their disqualification under the anti-defection law.
Union Finance Minister Nirmala Sitharaman announced the government's plan to establish a high-powered committee to examine reforms for the banking sector, aligning it with the vision of a 'Viksit Bharat' (Developed India) and India's next phase of growth.
Competition Commission of India (CCI) chairperson Ravneet Kaur has warned that the rapid adoption of artificial intelligence (AI) could intensify anti-competitive practices in digital markets, including self-preferencing, discriminatory pricing, and market manipulation. She highlighted the CCI's ongoing study into AI's impact on competition and stressed the regulator's role in fostering growth while preventing abuse of dominance.
InsuranceDekho and RenewBuy have merged to establish India's largest artificial intelligence (AI)-enabled insurance distribution platform, targeting a significant premium book and extensive reach across the country.
HDFC Bank's share in active mutual fund schemes has fallen to multi-year lows, despite overall MF ownership in the bank rising, as the stock faces weak performance, soft margins, and governance concerns.
The Supreme Court has agreed to hear a plea from the Shiv Sena (UBT) challenging Lok Sabha Speaker Om Birla's decision to approve the merger of six of its MPs with the Eknath Shinde-led Shiv Sena faction. The UBT faction argues these defections violate anti-defection laws.
Air India Group has accumulated losses of about Rs 47,821 crore since its takeover, leaving its prolonged transformation among the biggest unfinished projects of N Chandrasekaran's tenure.
A widow in Kanpur has alleged that jewellery worth approximately Rs 50 lakh vanished from her State Bank of India (SBI) locker, leading police to register an FIR against the branch manager and unidentified staff members. The complainant, Rashmi Arora, discovered the locker empty after a period of non-operation and a bank merger.
Seven Aam Aadmi Party (AAP) MPs have officially merged with the BJP in the Rajya Sabha, reducing AAP's strength in the Upper House. The move increases the BJP's presence and has been criticised by AAP as unconstitutional.
Sony Pictures Networks India (SPNI) has seen its revenue grow by over 9 per cent to 7,064 crore, driven by the strong performance of SonyLIV, Sony SAB, and Sony Entertainment Television (SET), said Gaurav Banerjee, head of SPNI.
Prime Minister Narendra Modi has appealed to opposition parties to support the delimitation-linked Women's Reservation Bill, highlighting its 40-year struggle. The bill aims to provide 33 per cent reservation for women in legislatures and increase Lok Sabha seats, requiring a two-thirds majority for passage. Despite previous setbacks and ongoing efforts to secure numbers, the government continues to push for this crucial legislation.
Maharashtra NCP president Sunil Tatkare has acknowledged awareness of merger talks between his party and the Sharad Pawar-led NCP-SP, while reaffirming the party's commitment to the BJP-led NDA alliance.
'Wages have not risen. Rural wages have stagnated. The growth was 0.7 per cent last year. For casual and irregular labour, the wage growth is negative.'
An all-party meeting convened by the government ahead of Parliament's Monsoon Session on Sunday saw the entire opposition staging a symbolic walkout over the invitation to rebel Trinamool Congress MPs and a demand for a discussion on the issues of Ram temple donation 'theft', NEET paper leak and mixing of ethanol in petrol.
Tata Sons has the balance sheet to support them, for now.
'The BJP has all the instruments with them and they do have a sense of purpose, so I don't think there will be a challenge.'
At this point at 85, Sharad Pawar is like a mature but ageing trapeze artist who is assessing if he will still land on his feet if he jumps from the safe perch of INDIA to the NDA. Can a Great Betrayal be presented as a tactical move? Watch Sharad Pawar do it, predicts Aditi Phadnis.
As NSRCEL enters its next phase, the incubator plans to focus on AI, deep technology and global partnerships as it looks to expand its reach.
