17 C 
Irdai's proposed insurance commission caps may hit smaller banks harder
The proposed curbs could erode more than half the bancassurance income at some small and mid-sized lenders, with losses reaching as much as 70% in certain product categories.
AU Small Finance Bank hit by a likely breach of 'limited' data
The lender is investigating a potential breach of limited data pertaining to its vehicle-loan customers. The data was hosted on a third-party software platform operated by Salesforce.
FCNR bounty in Q2 masks bank issues in growing deposits
An analysis of 10 banks shows that reported deposit growth averaged 21.1% year-on-year during July-September. However, excluding the special foreign currency inflows, domestic deposit growth was estimated at just 12.2%-a massive gap of nearly nine percentage points.
Big Tech returns smallest share of cash to shareholders in 15 years, given AI spending
USA-MARKETS-TECH:Big Tech returns smallest share of cash to shareholders in 15 years, given AI spending
Indian exporters get MAS support route to Russia through FIEO for MosBuild 2027
New Delhi [India], October 30: Indian manufacturers and exporters in the building materials and interiors sector can access Market Access Support (MAS) through the Federation of Indian Export Organisations (FIEO) to participate in MosBuild 2027 in Moscow, opening new opportunities to connect with Russian buyers and explore the wider Eurasian market.
Rahul Gandhi attacks govt on IDBI bank sale row; FM Sitharaman hits back
Amid the IDBI bank disinvestment row, Congress leader Rahul Gandhi has expressed solidarity with the employees and questioned the government's decision to sell off the profitable public bank to a Canadian firm. The Leader of Opposition in Lok Sabha asserted that public banks are not assets to be sold off, they are tools to build the nation. Hitting back, Finance Minister Nirmala Sitharaman said the Congress used banks and financial institutions as personal entities and pressured bank employees to extend loans at their whim, bypassing prudent lending norms. She also cited several instances from the Congress-led government, including the removal of SBI chairman R K Talwar in 1976 under Indira Gandhi's rule after he allegedly refused to give in to political pressure to relax lending norms for a company linked to Sanjay Gandhi. In a letter addressed to members of the IDBI bank family on Thursday, Gandhi said that in March last year, a group of employees of the bank came to meet him i
Spooky vibes at White House as First Lady Melania & Trump greet trick-or-treaters on Halloween
Manipur SoO Pact faces uncertainty ahead of polls
In Manipur, ethnic violence has led to significant casualties and displacement since May 2023. The Suspension of Operations agreement with Kuki militant groups has faced opposition by the Meitei and Naga communities. Several SoO cadres are accused of involvement in recent conflicts and violence. The future of the SoO agreement remains uncertain, raising concerns among local communities. Assembly elections will soon bring these issues to the forefront of political debate.
ISRO launches GSLV-F18 carrying NVS-03 satellite to strengthen Indias NavIC navigation system
Isro successfully launched its GSLV-F18 rocket carrying the 2,250-kg NVS-03 satellite from Sriharikota at 11:51 pm on Friday. The mission aims to strengthen India's indigenous NavIC navigation system through upgraded satellite capabilities, including an indigenous atomic clock and the addition of the L1 frequency signal alongside existing L5 and S-band signals.
36 Bangladeshis held for entering Assam without valid documents
Thirty-six Bangladeshi nationals were apprehended in Dhubri for allegedly entering India without valid documents. Authorities received a tip-off regarding a potential mass transit of infiltrators through the area. The arrests took place early in the morning at the Jogamaya ferry ghat of the Brahmaputra river. The individuals all came from Chapai Nawabganj in Rajshahi division of Bangladesh. Investigations are ongoing as police conduct document scrutiny and questioning.
UP CEO seeks explanation from Pilibhit poll officer over approval of erroneous forms
Uttar Pradesh Chief Electoral Officer Navdeep Rinwa is demanding answers regarding the validation of questionable voter registration forms. An investigation disclosed that 13,779 forms were wrongly included on the voter list, with 10,470 of these receiving improper approval. This situation has prompted scrutiny of both past and present district election officers, with clarifications anticipated from those overseeing the registration procedures.
Halloweens biggest treat? These 3 zodiac signs could find a reason to believe in the universe again
Threes zodiac signs are expected to get positive vibes from the universe. The festival may be spooky but it will turn to joy for them if they focus on the right things.
The court has imposed a penalty of 25 lakh on the builder and directed them to deposit the amount into the account of the Gulmohar Greens Residents Welfare Association within one month.
BofA Hires Senior Power Banker Manheimer From Morgan Stanley
Eddie Manheimer is joining Bank of America Corp. as head of global power and utilities investment banking from Morgan Stanley, as the firm invests in senior talent around AI-related energy and infrastructure dealmaking.
Mazagon Dock Shipbuilders scouts partners for proposed shipbuilding hubs
The defence shipbuilder plans clusters in Maharashtra and Andhra Pradesh, with a proposed investment of Rs 20,000 crore over five to seven years
J&K Police busts terror financing module, arrests 10 associates
Jammu and Kashmir Police arrested ten individuals in Shopian district for their involvement in a terror financing network. The accused were connected to various online financial transactions suspected of funding terrorist activities. Investigations indicated these individuals were raising money from the public to support terrorists like Lashkar-e-Taiba. Additionally, the funds were allegedly used for logistical support, including providing smartphones for terrorist operations.
Foreign secretary Vikram Misri to prepare ground for Nepal PM's India trip
Foreign secretary Vikram Misri is scheduled to visit Kathmandu to prepare for Balendra Shah's visit to India. Shah's visit will mark his first trip abroad as Prime Minister of Nepal, occurring in late November. Several India-funded projects are expected to be inaugurated, and new projects will be launched during this visit. Nepal is likely to request additional Indian investments in various sectors, including hydropower and hospitality.
India lifted 496 million people out of poverty between 2011 and 2023, says World Bank
Between 2011 and 2023, India successfully elevated about 496 million people from poverty, showcasing a significant reduction in those living below the poverty threshold. A steep decline in extreme poverty reflects improved living conditions. However, income inequality lingers across different job sectors and regions. The World Bank forecasts ongoing reductions in poverty levels, but at a more gradual rate than before.
Sitharaman says NDA revived IDBI Bank after UPA-era bad loan crisis
In response to Rahul Gandhi's opposition to IDBI Bank's privatisation, Nirmala Sitharaman stressed the successful recovery of the bank thanks to the NDA government's strategies. She pointed to the previous UPA government's fiscal mismanagement, which caused notable losses. Sitharaman also discussed the reviewed valuation process for the stake sale, criticising Gandhi for his attempts to politicize banking matters and the undue stress placed on bank staff during earlier administrations.
Gail's net profit zooms two-fold to 4,724 crore on robust volumes
GAIL's Q2 net profit jumps 138% to 4,724 crore, supported by strong gas transmission and marketing volumes; board approves plans to list subsidiary GAIL Gas through an IPO
Karnataka has hiked Nandini milk prices by 8 per litre from November 1, with 7 going to farmers and 1 to milk unions. Despite the increase, Nandini Shubham at 60 per litre remains cheaper than comparable milk varieties in most states, the governments price comparison shows.
Noida Authority has amended its Master Plan 2031 to create space for pending 5% residential plots for farmers. Nearly 13,000 claims remain unresolved, but public objections and state approval are still required.
A Trans Bharat Aviation helicopter crashed near Chai village in Joshimath while flying from Badrinath to Dehradun on Friday, killing the pilot and five passengers. The AAIB will investigate, while the DGCA has dispatched a team for a preliminary and regulatory assessment.
Reliance Retail Q2 results: Net profit falls 24% to 2,611 crore; revenue rises 6%
Company highlights macroeconomic trends hurting demand like rising inflation, weak rupee and monsoon deficit
Dixon, Syrma clock revenue jump while chip costs rose
Both contract electronics manufacturers beat the Street in September quarter, with higher revenues.
India made remarkable progress in reducing poverty: World Bank
Report says the country saw one of the fastest reductions in poverty in the world; extreme poverty fell to 2.6% in 2023 from 27.1% in 2011, driven by government transfers and rising employment
Reliance posts record profit, revenue in Q2 as O2C, Jio lead growth
The results underscore resilience across Reliances integrated energy and digital services despite volatile markets
IRDAI upgrades business analytics platform for health covers
IRDAI upgrades business analytics platform for health covers
Sun Pharma Q2 profit falls 36% as litigation costs hit earnings
Sun Pharma reported a 36% decline in Q2FY27 net profit to Rs 1,989 crore due to exceptional litigation and acquisition-related costs. Revenue grew 11.8%, supported by strong domestic and emerging market sales, while US formulations weakened.
IGL net profit plummets 93% on higher input gas cost and consumer price protection
Indraprastha Gas Ltds overall sales grew 8% on a year-over-year basis.
IGL net profit plummets 93% on higher input gas cost and consumer price protection
Indraprastha Gas Ltds overall sales grew 8% on a year-over-year basis.
Syrma SGS reports best-ever quarter; Q2 revenue up 73% to Rs 1,999.5 crore
Syrma SGS Technology reported an 87.2% increase in consolidated net profit for the quarter ending September 2026. Consolidated revenue increased by 73.2%, reaching a record high of Rs 1,999.5 crore. The companys exports grew by 91% year-on-year, showcasing strong international demand. Investments are planned in collaboration with Kaga Electronics to enhance the domestic supply ecosystem.
Policybazaars agent business may need to change under Irdais draft rules, says CEO Yashish Dahiya
The business could carry on if it evolved into something different, like maybe a services player, says PB Fintech's CEO Yashish Dahiya
Tata Motors takes control of Iveco in 3.43-billion deal; focus shifts to debt, integration
The takeover brings a major European commercial-vehicle business into Tatas fold, with integration and financial returns now under investor scrutiny
Zee Entertainment Q2 profit drops 40% to Rs 46 crore as EBITDA margin contracts to 3.2%
Zee Entertainment Enterprises reported a 40% decline in consolidated net profit for the quarter ended September 30, 2026. Operating revenue increased by 13%, largely due to growth in subscription revenue supported by the FIFA World Cup 2026. Total expenditure rose by 18% primarily driven by increased programming and promotional costs. ZEE5, the company's streaming platform, showed significant growth by doubling its revenue year-on-year.
Sun Pharma taking remedial action, following voluntary withdrawal of 11 eye drops: Management
Giving an overview of the companys performance, Ganorkar said, the integration of Organon was on track to be completed by the last quarter of FY27
Reliance Consumer Products revenue jumps 60% to 8,266 crore on Campa, Independence growth
The FMCG business is expanding its manufacturing footprint and overseas presence, even as separate profitability disclosures remain unavailable for investors.
IRDAI declares Nov grievance resolution month; 72% of cases pending for more than a year.
Unresolved grievances a concern, around 2.21 lakh cases pending as on March 31 before Consumer Commissions and judicial courts with 72.49% of them for more than a year, says the regulator
JioStar's Q2 profit falls 13% amid weak ad environment
JioHotstar's monthly active users fell sequentially as the IPL season ended, but were up year-on-year.
Spandana Sphoorty returns to profit at Rs 18 crore in Q2FY27
Spandana Sphoorty Financial reported consolidated Q2 profit of Rs 18 crore, reversing a Rs 249 crore year-ago loss. Assets under management grew 31% to Rs 5,364 crore, while improving asset quality reduced gross and net NPAs.
IOC Q2 profit soars 184% on higher refining margins
Indian Oils gross refining margins, after subtracting for special additional excise duty (SAED), during the reported quarter stood at $18.52 per barrel.
Bank of Baroda Q2 profit jumps 36% to Rs 6,532 crore on NSE stake sale
Bank of Baroda reported 36% year-on-year profit growth to Rs 6,532 crore in Q2FY27, boosted by NSE stake sale gains and higher interest income. The lender raised annual credit and deposit growth guidance amid strong loan demand.
Tata Sons infuses 1,100 crore in Tata Electronics
The fund infusion comes amid ongoing dispute between Tata Trusts and Tata Sons on issues of listing Tata Sons shares and a third term for Tata Sons chairman N Chandrasekaran
Reliance Retail profit falls 24% in Q2; FMCG revenue rises 60%
Reliance Retail Ventures Ltd (RRVL) reported a 24.3 per cent year-on-year decline in consolidated profit after tax, including its share of associates and joint ventures, to 2,611 crore in JulySeptember 2026 from 3,451 crore a year earlier, as digital-commerce investments, input-cost inflation and higher finance costs weighed on earnings.
Reliance Industries Q2 profit jumps 34% to record 29,550 crore on strong O2C, Jio growth
Strong refining margins and expanding digital services lifted earnings, while subdued retail performance partly offset gains across the conglomerates businesses.
GAIL profit more than doubles on strong gas marketing performance
Profit before taxes of their natural gas marketing business rose more than two-and-half times during the quarter.
Tata Motors completes Iveco takeover with 89.42% stake, buyout continues
A fresh tender window for minority shareholders will open on November 2, while Tata Sons Chairman N Chandrasekaran has been appointed Iveco's chairperson following the takeover
Reliance's refining business powers quarterly earnings beat as profit rises 40%
Indias most valuable company reported a profit of 25,548 crore, up 40% from the year-earlier period and nearly a fifth above market expectations.
Lodha Developers Q2 PAT rises 28%, expects to exceed FY27 profit guidance
The company's revenue from operations also increased by 17.6 per cent in Q2FY27 to Rs 4,468 crore, compared with Rs 3,798 crore in the corresponding quarter last year
The expansion of renewable energy capacity, rapid urbanisation and rising electricity consumption from data centres are expected to create significant investment opportunities across the power transmission and electrical equipment sectors.
RIL Q2 profit jumps 41% to 25,548 crore on O2C, Jio strength
The O2C business emerged as a key growth driver, with revenue surging 44.2% YoY, reflecting a sharp rise in crude and product price.
Microsoft's reported buyout offer to around 60,000 employees across India, the US, the UK and Canada raises questions about voluntary separation, severance payments and employee rights. Here's what Indian workers should know before signing an exit agreement.
Reliance Retail Q2 profit falls 24.5%, revenue up 6.4%
Revenue from operations of Reliance Retail Venture Ltd (RRVL) increased 5.78 per cent to 80,220 crore in the September quarter of FY27. It was 75,836 crore in the corresponding period of the last fiscal year.
The proposed merger is expected to bring complementary capabilities across speciality carbon black, R&D, manufacturing, and finished tyre production
Raymond Lifestyle seeing positive consumer sentiment on the back of premimuisation trends: CEO
Satyaki Ghosh says despite inflationary pressures, urban demand has been strong in the apparel segment
Sun Pharma Q2 net profit falls 36% on one-time charges, revenue rises 12%
Exceptional charges of Rs 1,268.8 crore, including a US antitrust settlement and Organon acquisition costs, weighed on profit, while India formulation sales grew 17.3 per cent
Reliance Retail Q2 profit falls 24.3%, revenue rises 5.8% to 80,220 cr
Reliance Consumer Products' gross revenue grew 1.6 times to Rs 8,266 crore in Q2FY27, while Reliance Retail's finance costs rose 53.9 per cent to Rs 905 crore during the quarter
Q2 Results Today, 30th October 2026 Highlights: businessline brings to you latest Q2 announcements, earnings updates and more.
Sagar Cements posts 51 cr net loss in Q2
The total revenueof the Hyderabad-based companyincreased by 17 per cent at Rs 707crore in the quarter under review compared to Rs 606 crore in the year-ago period
Binance is investigating a reported $6.3 billion crypto theft, potentially the biggest financial heist, with early findings pointing to North Korea-linked hackers. The exchange has frozen withdrawals, is tracing stolen assets and says customer funds are safe.
Three letters set the tone for Tata Sons board meeting on November 26
After truce meeting with Chandrasekaran, Noel wants Tata Sons restructuring and Shapoorji Pallonji fundraising on the board agenda
Reliance Retail Q2 Results: The company's gross revenue increased 6.4% YoY to Rs 91,716 crore in Q2FY27, compared with Rs 86,169 crore in the year-ago period. The growth came despite the absence of major festive occasions during the quarter, with the festive calendar shifting to the December quarter.
Flipkart kickback probe raises questions over internal controls, vendor oversight
The investigation, still ongoing, centres on allegedly facilitative practices within Flipkarts B2B channels, possibly tilting product visibility in favour of certain sellers
Reliance posts 40% rise in quarterly profit
The company, which operates the world's largest refining complex in western India, has benefited from Brent crude rising about 60% since the Iran war broke out at the end of February. Oil-to-chemicals accounts for more than half of Reliance's revenue.
How should law respond to deepfakes?: Justice Surya Kant flags AI-era legal challenges
Data Security Council unveils AI liability guide for Indian enterprises
The DSCI guide outlines how liability should be allocated across enterprises, AI developers and service providers, highlighting governance risks in autonomous AI systems
'Pedophiles, big corporations, billionaires': Brown attacks Trump-backed Ohio Senate rival Husted
'Sanctuary politicians supporting gangbangers': Mullin drops fierce warning, defends ICE crackdown
Bengaluru recorded 11.5% annual growth in prime office rents in Q3 2026, matching Tokyo, while Mumbai saw a 33% jump in leasing transactions, with year-to-date volumes already exceeding its full-year 2025 total, according to Knight Frank.
RIL Q2 results: Net profit jumps 40.6% to 25,548 crore, beats estimates
RIL Q2 results: Net profit jumps 40.6% to 25,548 crore, beats estimates
Sammaan Capital promoter raises stake to 33.32% after warrant conversion
Avenir Investment converted 8.69 crore warrants into equity shares for about Rs 906 crore, raising its stake in Sammaan Capital from 28.34 per cent to 33.32 per cent
Reliance Industries Q2 Results: Profit shoots up 41% YoY to Rs 25,548 crore, revenue surges 29%
Reliance Industries Q2 Results: Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a 41% year-on-year (YoY) growth in consolidated net profit to Rs 25,548 crore for the September quarter of FY27, compared with Rs 18,165 crore in the corresponding period last year.
AugurAI Raises 2 Crore from Campus Angels Network to Scale AI-Powered Precision Optics Solutions
Tiruchirappalli (Tamil Nadu) [India], October 30: AugurAI Private Limited, a deep-tech company building Precision Optics and AI-powered Visual Inspection Systems for industrial manufacturing, has raised 2 crore from Campus Angels Network (CAN). The entire round was funded by CAN investors.
Aditya Birla Capital Q2 net profit rises 38% to 1,288 cr on loan growth
Aditya Birla Capital's Q2FY27 profit rose 38 per cent to 1,288 crore, driven by strong lending growth, with its NBFC and housing finance arms reporting higher earnings
GAIL Gas IPO in FY28; parent to offload 25% stake
The proposed IPO will provide GAIL Gas with a stock market listing while allowing its parent to unlock value through a partial stake sale.
Govt sets up banking committee on reforms
Centre on Friday constituted a six-member High Level Committee on Banking for Viksit Bharat to review India's banking sector and recommend structural, regulatory and institutional reforms to prepare it for the country's development goals by 2047.The committee will be chaired by Suresh N. Patel, former Central Vigilance Commissioner, and will include Reserve Bank of India (RBI) Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru, and former RBI Deputy Governor N S Vishwanathan as members. The Joint Secretary (Banking) in the Department of Financial Services will serve as its Member Secretary.The committee will have six months to complete its work. Its formation follows the announcement made by Finance Minister Nirmala Sitharaman in the Union Budget 2026-27.The panel has been tasked with examining the existing banking framework and recommending changes to make Indian banks more globally competitive, financially inclusive and resilient as the country works towards the Viksit Bharat 2047 goal.Panel to examine banking regulations, capital requirementsThe committee will assess existing banking practices and prudential norms against global standards and identify practices that could be adapted to the Indian banking system. It will also prepare a roadmap for developing globally competitive banks.Its review will extend to the regulatory and legal frameworks governing banks, including Regional Rural Banks (RRBs) and cooperative banks. The panel will suggest changes aimed at improving operational efficiency and making banking easier for businesses and customers.Another key area of its mandate is the long-term capital requirement of the financial system. The committee will examine the funding needs of banks, Development Financial Institutions (DFIs) and Non-Banking Financial Companies (NBFCs), and recommend potential funding sources and mechanisms to support credit growth.It will also study differences in the cost of capital for businesses and suggest policy measures to encourage private investment and support sustainable economic expansion.AI adoption, priority sector lending also on agendaThe committee will draw up a roadmap for the adoption of artificial intelligence and digital innovation across banking institutions, while recommending safeguards against cyber risks.Its mandate also covers talent acquisition and capacity building, with a focus on ensuring that banks have the workforce and skills needed to adapt to technological changes.The panel will review the Priority Sector Lending (PSL) framework and the Lead Bank Scheme to assess whether they remain relevant and effective in delivering credit. It will examine how these mechanisms can improve coordination and support more inclusive, balanced and data-driven lending in line with changing economic priorities and financial inclusion objectives.The government has also left room for the committee to examine any other banking-related matter that may be referred to it.
Skyroot Aerospace eyes commercial rocket launches from early 2027
Following Vikram-1's maiden orbital launch in July, Skyroot plans to begin commercial operations in early 2027 and scale up to one rocket launch a month by the end of next year
Odisha cancels 28.8 acres of land allotted to Vedanta over non-utilisation
Idco terminates the 2013 land allotment after an inspection finds the site vacant. Vedanta had proposed using the land for future expansion and healthcare facilities
Intellect Design Arena net profit flat in Q2, shares tank 17%
Revenue from operations stood at 847 crore (758 crore)
World's top 50 marathons generated $6 bn economic impact in 2025: Report
TCS-partnered marathons accounted for 53 per cent of the $6 billion economic impact and 73 per cent of charitable fundraising by the world's top 50 marathons in 2025
PB Fintech's UAE insurance business grows 19-fold as it looks beyond motor cover
PB Fintech has achieved impressive growth within the UAE insurance landscape, notably boosting its premium volumes since FY22. With a strategic plan in place, the company intends to diversify its offerings by introducing health and life insurance solutions geared towards NRIs. Key features will include cross-border protection and simplified claims processing.
Cancer drug prices: Experts seek use of compulsory licensing, tighter checks on pharma pricing
Public health advocates argued that the government should assess affordability rather than rely only on the number of brands reporting price cuts
Jio Platforms Q2FY27 profit rises 14% in first post-listing results
Jio Platforms posted 40,475 crore in revenue and 8,389 crore in net profit in its first results after listing, as subscriber additions and digital services supported growth.
Jio Platforms' Q2 profit up 13.7% in first results since blockbuster debut
Jio Platforms reported a 13.7% rise in Q2FY27 net profit to 8,389 crore, marking its first quarterly results since the telecom and digital major's record $3.2 billion stock market debut.
Jio Platforms Q2 Results: Profit rises 14% YoY to Rs 8,389 crore; revenue up 11%
Jio Q2 Results: Jios profit growth was supported by healthy subscriber additions, expansion in its digital services business and a marginal rise in average revenue per user (ARPU).
A data leak reportedly exposing personal and job details of more than 40,000 Department of Homeland Security employees is under investigation. Distributed Denial of Secrets says the data came through Okta, but Okta says it has found no evidence its systems or data were compromised.
PSU banks cut fresh deposit rates more sharply than private lenders in September: RBI data
In September, public sector banks cut their interest rates on fresh term deposits by 10 basis points. Private sector banks only reduced their rates by six basis points during the same period. Fresh rupee loan rates declined by six basis points at public sector banks while private banks maintained their rates. The weighted average lending rate for fresh loans fell to 8.51% from 8.61% in August.
Trai proposes mandatory AI policies, incident reporting for telcos
Trais draft AI governance guidelines seek board-approved AI policies, risk-based classification, human oversight and mandatory reporting of serious AI-related incidents, while holding telecom operators accountable for outcomes even when systems are sourced from third-party vendors.
Indian Oils Q2 FY27 profit surges to 22,503 crore
IOCLs consolidated total income stood at around 2.69 lakh crore in Q2 FY27, compared to 2.82 lakh crore in Q1 FY27 and 2.07 lakh crore in Q2 FY26
