MUMBAI: The RBI delivered its first rate cut since June 2025 on Friday, lowering the repo rate by 25 basis points to 5.25%. The move is expected to soften home loan rates, which may fall to a record low.The RBI also raised the growth projection for FY26 to 7.3% from 6.8% while lowering the inflation…
MUMBAI: Simone Tata (nee Dunoyer), a Swiss national who married into the Tatas and built India’s most enduring cosmetics brand, passed away in Mumbai Friday at 95.Lakme, a Tata venture born of an unusual request by then PM Nehru, who noticed that Indian women relied heavily on imported cosmetics, draining precious foreign exchange, was named…
BENGALURU: It’s something of a Francisco D’Souza redux. After stepping down as Cognizant CEO, D’Souza co-founded Recognize. Now, Bain Capital, in partnership with Recognize, has closed a multi-billion-dollar deal to acquire HealthEdge, the US-based healthcare software provider. During D’Souza’s tenure, Cognizant carved out a strong franchise in healthcare, with the former CEO playing a pivotal…
MUMBAI: Most tech-driven financial services platforms faced outages during Friday’s high-intensity late session due to tech-glitch at Cloudflare, one of the companies that runs the internet globally. Traders in India faced issues with trade execution and cancellations on a day when the RBI policy and weekend considerations led to higher trading intensity than most other…
Kolkata: 106-year-old Kesoram Industries, once the flagship of the B K Birla group, is being acquired by Frontier Warehousing, a city-based storage and logistics solutions company. The total value of the acquisition, as per stock exchange filings, would be close to Rs 100 crore.Frontier-owner Gautam Agarwal, told TOI he is drawing up plans for Kesoram,…
MUMBAI: RBI deputy governor Poonam Gupta has responded to recent IMF comments questioning the quality of India’s growth data and classifying the rupee’s exchange rate regime as a “crawling peg” within a managed float system.On the concern regarding data quality, Gupta said that the IMF’s critique is more procedural than substantive. “The point that they’re…
Noel tata, Ratan Tata, Simone Tata MUMBAI: Former Tata Group director Simone Tata had transferred ownership of her assets, including Tata Sons shares, to her son and Tata Trusts chairman Noel Tata, said people in the know.The move, which took place some years ago, increased Noel’s stake in Tata Sons to 1%, making him the…
Sebi on Friday proposed a comprehensive overhaul of the Foreign Portfolio Investor (FPI) framework, aiming to streamline registrations and introduce an abridged application option for related funds, even as the regulator seeks to ease compliance for global investors.In a consultation paper, the Securities and Exchange Board of India said the move is intended to enhance…
IndiGo CEO Pieter Elbers on Friday said the airline expects to cancel fewer than 1,000 flights on Saturday, adding that operations should return to normal between December 10 and 15.His message came on a day when the carrier scrapped more than 1,000 flights — over half its daily schedule — amid nationwide chaos triggered by…
If your net income-tax liability exceeds Rs 10,000 in a financial year, you are required to pay advance tax in four installments as per the Income Tax Act, 1961. Net tax liability refers to the estimated tax due after adjusting for TDS. While this rule applies to most taxpayers, the law also provides key exemptions…
