MUMBAI: The Adani group’s dependence on Indian lenders has risen sharply. Domestic banks and financial institutions now account for half of its over Rs 2.6 lakh crore debt, up from 40% a year ago, helped by lower local funding costs after RBI rate cuts and narrower spreads following upgrades in credit ratings. The group’s overall…
MUMBAI: Paving the way for the sale of IDBI Bank, Sebi has approved the reclassification of Life Insurance Corporation as a public shareholder from promoter of the bank once the sale transaction is concluded. The regulator’s nod is subject to conditions, including LIC’s voting rights being capped at 10%, no board representation or control over…
IT secretary S Krishnan said the ban on money gaming doesn’t mean doom and gloom for the sector, with ample growth opportunities existing in the social games and e-sports categories. In an interview with TOI, Krishnan denied that companies were not given sufficient opportunities to provide their views, adding that action against money games was…
NEW DELHI: Stock market regulator Sebi is intensifying its fight against cyber fraud and has sought support from the states to prevent misuse of social media platforms and protect investors across the country from the menace.Sebi chairman Tuhin Kanta Pandey, who took charge in March, has written to chief secretaries, seeking collaboration to “spread awareness”…
European Central Bank president Christine Lagarde has warned that undermining central bank independence could unleash “dysfunction” and “instability,” issuing her remarks in the United States at a time when President Donald Trump is intensifying pressure on the Federal Reserve to cut interest rates.Speaking in an interview aired on Fox News after attending the Jackson Hole…
The Trump government has consistently expressed disapproval of India’s purchase of discounted Russian oil. (AI image) US Vice President JD Vance has said that Donald Trump applied secondary tariffs on India to force Russia to stop the war with Ukraine. Calling it ‘aggressive economic leverage’, Vance said that the measure would make it difficult for…
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal challenging the acquisition of Vadraj Cement by Nirma group company Nuvoco Vistas Corporation, upholding the resolution plan approved earlier by the National Company Law Tribunal (NCLT).The Delhi-based principal bench of NCLAT affirmed the April 1, 2025 order of the Mumbai NCLT, which had cleared…
Analysts suggest that domestic equity markets may respond positively to signals of a possible US Federal Reserve rate reduction. (AI image) Indian equity benchmark indices, Nifty50 and BSE Sensex, are expected to see a gap-up opening on Monday after US Federal Reserve chairman Jerome Powell indicated that the central bank may cut rates in its…
Industry body CII has unveiled a sweeping reform blueprint aimed at accelerating India’s economic transformation, calling for a simplified GST structure, rationalised tariffs, new employment policies, and greater trade competitiveness.The Confederation of Indian Industry (CII), in its report “Policies for a Competitive India”, has put forward over 250 actionable recommendations across 14 critical areas. The…
State-owned fuel retailers experienced significant profit surge in Q1 FY26, with a combined net profit of Rs 16,184 crore, driven by robust petrol and diesel marketing margins. BPCL led with a net profit of Rs 6,124 crore and a GRM of $4.88 per barrel. These gains offset inventory losses and unresolved LPG subsidy burdens. State-owned…
