28 C 
Growth spurt: On data by Federation of Automobile Dealers Associations
Alternative powertrains are now mainstream in automobiles
Fintechs must treat data as fiduciary duty, not business asset, says RBI Governor Sanjay Malhotra
Mumbai fintechs must treat user data as a fiduciary responsibility, not a business asset. RBI governor Sanjay Malhotra stressed trust is key for financial system adoption and endurance. Firms growing significantly must take systemic responsibility beyond their balance sheets. Operational resilience and cybersecurity are essential prices for achieving scale.
Advent, Temasek in talks for Fairfax stake in IIFL Fin
Advent International and Temasek Holdings are reportedly in talks to acquire Fairfax Financial's stake. Fairfax is looking to exit IIFL Finance as part of its IDBI Bank acquisition plan. This stake sale will help Fairfax comply with regulations and fund the IDBI Bank buyout. Fairfax currently holds a significant stake in IIFL Finance, which is valued at approximately 3,500 crore.
Global Conference on Sustainable Development & Business Excellence Held at UNESCO House, New Delhi
New Delhi [India], September 10: The Global Conference on Sustainable Development & Business Excellence was held at the UNESCO Auditorium, UNESCO House, Chanakyapuri, bringing together Ambassadors, diplomats, policymakers, industry leaders and MSME entrepreneurs for a full day of dialogue, recognition and knowledge-sharing. Held under the theme Advancing the SDGs through Innovation, Inclusion and Enterprise Excellence, the conference was organised in association with the World Association for Small and Medium Enterprises (WASME), an international NGO holding UN ECOSOC Consultative and Observer Status.
Canara HSBC Life fined Rs 1 crore for mis-selling policy to 88-yr-old via Canara Bank
Canara HSBC Life Insurance Company received a 1 crore penalty from IRDAI. The fine was imposed for mis-selling a deferred annuity policy to an 88-year-old individual. IRDAI identified several procedural and disclosure deficiencies in the sales process. The insurer subsequently refunded 4.09 lakh to the affected customer. This action highlights regulatory scrutiny over insurance sales practices.
'Fintechs must treat data as fiduciary duty, not business asset,' says RBI Governor Sanjay Malhotra
Reserve Bank of India governor Sanjay Malhotra stressed data fiduciary responsibility for fintechs. He stated that user data must be treated as a trustee asset, not a business asset. Firms must use data strictly within user consent, protecting it diligently. He warned that eroding trust through data misuse leads to irreversible damage. Operational resilience and cybersecurity are essential for firms achieving significant scale.
NSE Downsizes India IPO, Showing Mounting Valuation Concern
National Stock Exchange of India Ltd., the worlds largest derivatives exchange by volume, has downsized its initial public offering, a sign of rising concern over the willingness of investors to buy into the deal at the valuation the firm had been seeking.
Pocket Entertainment crosses $500 mn ARR as business grows 70%
Pocket Entertainment says AI-led growth across content creation, production and distribution has helped it cross $500 million in ARR, with a healthy bottom line
NCLAT sets aside NCLT order directing Home Derivatives liquidation
The appellate tribunal said the liquidation process had begun before the amended regulations were notified, making retrospective application impermissible
Ultraviolette to establish BIGGA factory in Hosur
The project is expected to create approximately 2,000 job opportunities in its initial phase, scaling further over the next five years, as the facility scales its operations
Unilever CEO calls India blueprint for emerging market growth
Rising incomes, urbanisation and changing consumption patterns are creating significant opportunities for Unilever across Indias evolving consumer and retail landscape
Foreign Currency Non-Resident Bank deposits are significantly enhancing banking liquidity, providing an essential boost for lending opportunities. This heightened liquidity is expected to meet the anticipated consumer demand during the festive season. To avoid financial losses from idle deposits, banks must judiciously allocate these funds. Additionally, this surge in inflows has contributed to stabilizing the rupee against the US dollar.
Kotak Mahindra Bank Group President and Head of Commercial Bank Manish Kothari has resigned after 31 years. He will leave on September 30, 2026, with Kotak initiating a planned transition and integrating his commercial banking portfolio into its retail and institutional business segments. Kothari has indicated that he may explore an entrepreneurial venture.
Capital Group fund buys 1.95% stake in Sri Lotus Developers for 190 cr
Smallcap World Fund acquired the stake through an open-market transaction as promoter Anand Kamalnayan Pandit sold 2% to meet minimum public shareholding norms
CCI invites public comments on PVR INOX proposal to discontinue VPF charges
PVR INOX proposes ending upfront VPF payments and offering producers a choice between a per-show exhibition service charge and a revised revenue-sharing arrangement
Ambani calls upon India Inc to collectively launch ecosystem that supports working women
Mukesh Ambani, at the Hindi launch of Arundhati Bhattacharya's memoir Indomitable, called on corporate India to build a stronger support ecosystem for working women and mothers, pledging Reliance Foundation's full participation and asking Bhattacharya to lead the initiative. He said India is moving from women's development to women-led development, describing women today as architects of progress rather than mere beneficiaries.
SBI chief Setty says $127 billion FCNR inflow wont trigger lending surge
State Bank of India Chairman CS Setty addressed concerns regarding foreign currency deposit inflows. He stated these funds will be absorbed gradually over the coming months. The central bank's swap facility attracted significant foreign capital inflows. Commercial banks received substantial FCNR(B) deposits, exceeding market expectations. Setty also highlighted structural shifts towards asset tokenization in capital markets.
A recent study by the University of Minnesota reveals that trees may emit less carbon dioxide with rising temperatures as young trees, subjected to a 3.4C rise, showed only a five percent increase in carbon release. The surprising result do not suggest that warming has little impact on forests. Instead, they show that trees may be better able to adapt to long-term changes in temperature than scientists previously thought.
'Jon Ossoff is right there with Hasan Piker': Collins goes off on Democrat Senator at GOP convention
Through a combination of education and innovative green infrastructure projects, water quality in the Passaic River has seen remarkable improvements. Led by Rutgers Cooperative Extension and various partners, these initiatives focused on managing stormwater runoff effectively, ultimately leading to the removal of the Lower Passaic River from the impaired waters list. This success highlights the effectiveness of nonpoint source pollution control in urban environments.
MCD suspends 3 engineers over dereliction of duty; 8 removed so far after Delhi building collapse
The Municipal Corporation of Delhi announced on Thursday the suspension of three engineers as part of a broader crackdown on negligence in unauthorized construction. This decision follows the prior suspension of a Deputy Commissioner and four engineers related to similar issues. The corporation is reinforcing its commitment to safety by focusing on dangerous buildings, instructing officials to stay alert and respond immediately to any breaches of regulations.
Job creation will come from millions of small enterprises not big companies: Nandan Nilekani
According to Nilekani, tokenisation levels the playing between small and big companies by providing the access to digitise locked assets for the smaller enterprises.
NPCI launches tap-to-pay, unified UPI services window
The Tap & Pay feature allows users to make UPI payments at point-of-sale terminals by unlocking their phones and tapping them on compatible devices, without opening a UPI app.
Ahead of Market: 10 things that will decide stock market action on Friday
Indian markets ended higher after Sensex and Nifty reversed losses during the closing auction, snapping a three-session decline. Crude above $102, weak global cues and rising yields kept sentiment cautious, while Nifty formed a hammer and stocks showed buying interest.
OPEC forecasts Indias oil demand to accelerate by 0.06 mb/d in 2026
OPEC trimmed their forecast for global oil demand growth for 2026 and expects it to be rebound in 2027.
SC questions FSSAI on thresholds for high sugar, salt, fat warnings
This inquiry came as part of a broader initiative to introduce prominent front-of-pack warning labels aimed at protecting public health, particularly that of children.
PepsiCo is bullish on India, targets top-10 global market status
Global food and beverage major PepsiCo expects India to break into its list of top 10 global markets in the coming years, as the country continues to draw investment for its expanding manufacturing footprint and rising consumption potential, its India & South Asia CEO Jagrut Kotecha said on Thursday. Calling India one of its most promising markets globally, he said the company remains very bullish on the country's growth potential, backed by an investment of around Rs 5,700 crore by 2030 to scale up capacity and strengthen its regional footprint. PepsiCo, which is investing to enhance capacity and scale up its supply chain network, inaugurated its fifth manufacturing plant in Nalbari, Assam, on Thursday, with an investment of Rs 778 crore. The company, which earlier this year opened a concentrate facility at Ujjain in Madhya Pradesh, is also setting up a plant at Tiruchirappalli in Tamil Nadu to widen its presence in south India. Replying to a PTI query on whether India will ...
OALP deepwater bidding deadline extended by two months to November 15
Bidding for onland and shallow water blocks under both rounds have been closed.
Sagar Defence Engineering gets industrial licence to make military vessels
Sagar Defence Engineering Ltd, a vertically integrated deep-tech start-up, has been granted an industrial licence by the government for the manufacturing of surface and underwater vessels for use by the military, people familiar with the matter said on Thursday. The company is among a handful of private entities to get the licence to produce vessels for use by the Indian Navy and Coast Guards. The licence enables the company, subject to applicable regulatory approvals and licence conditions, to undertake activities relating to the design, manufacture, construction, integration, assembly, testing and supply of specified naval defence platforms and associated systems, the people cited above said. The development follows the grant of an industrial licence for the manufacture of arms, explosives and ammunition to Sagar Defence Engineering earlier this year. The earlier approval covered the manufacture of specified arms, explosives and ammunition, while the latest licence relates to the
International flights from Navi Mumbai gets a fee waiver boost
An airline already flying to Dubai from CSMIA can now launch Navi Mumbai-Dubai flights and still qualify for the fee waiver. Under the earlier rule, it would not have qualified.
Kisshts Next Phase of Growth: From Lender to Financial-Services Company
Ramakrishna Forgings to invest 300 crore in 2026-2027
Cars24 August GMV rises 37% to 937 crore, net revenue grows 46%
Monthly performance translates into annualised transaction GMV run-rate of around Rs 11,000 crore; adjusted net revenue run-rate crosses Rs 2,000 crore
With new Assam unit, PepsiCo eyes India as one of its top 10 global anchor markets
The multinational companys foods manufacturing plant in Nalbari district, spread across 44.2 acres, will cover 80,000 smallholder farmers through agri-entrepreneurs
RBI Guv asks fintechs to treat customer data as fiduciary responsibility
RBI Governor Sanjay Malhotra cautions fintechs against exploiting regulatory gaps, urges them to protect customer data and focus on responsible, inclusive innovation
Market Trading Guide: Finolex Cables among 3 stock recommendations for Friday
Indian markets remained volatile on expiry day as crude prices, a weaker rupee and rising bond yields weighed on sentiment. Analysts recommend Finolex Cables, Jindal Saw and Emmvee Photovoltaic Power, citing bullish breakouts, strong momentum, technical indicators and upside targets.
Adyen steps up India expansion after licence approval, plans to grow local team
Adyen plans to expand its local product, commercial and operations teams as it targets Indian businesses going global and multinational companies entering India.
Milky Mist commissions new high-protein Skyr and Yoghurt plant
The unit is located within the companys integrated manufacturing facility in Perundurai, Erode in Tamil Nadu
Raana Semiconductors to launch 12-inch CZ ingot machine for solar module makers
The company is banking on the increasing vertical integration within Indias solar module manufacturing industry.
FSSAI widens food safety crackdown to dark stores, cloud kitchens, labels and trademarks
The food safety regulator has also asked States to ramp up surveillance, especially of dairy products, ahead of the upcoming festival season
JSW Infrastructure completes acquisition of NCR Rail Infrastructure
Under approved resolution plan
OfBusiness deepens manufacturing across metals, chemicals and apparel
Tapping value-added production opportunities may boost supply-chain control and margins; owned capacity now spans over 40 products and direct headcount has crossed 35,000
Mumbai (Maharashtra) [India], September 10: GreenEx Environmental today hosted India's 1st EPD Conference 2026 at Taj Lands' End, Bandra West, Mumbai, bringing together policymakers, regulators, international EPD programme operators, sustainability experts, and leading Indian and multinational manufacturing companies for a significant dialogue on the future of environmental transparency and sustainable manufacturing.
HDFC Bank wins all seven Bahrain cases over Credit Suisse AT1 bonds
HDFC Bank said the Bahrain court found that the investors had failed to provide sufficient admissible evidence to substantiate the allegations or establish that they suffered losses because of the bank.
Tata Steel commissions India's first coke oven gas injection project
The project at Tata Steel's Meramandali plant will use coke oven gas as a reductant and partial substitute for conventional fossil fuels in blast-furnace operations
CoverSure launches insurance gift cards to pull Gen Z, new buyers into protection net
The card, available on the CoverSure app, can be loaded with any amount between 100 and 10,000
Indian Bank launched new digital banking solutions at the Global Fintech Fest. AI-TARA, a voice-based assistant, offers banking services in ten languages. Smart Wealth provides a consolidated view of customer finances and spending analytics. IND Cash Optima digitizes cash management for corporate clients. These innovations aim to enhance customer experience and accessibility for all.
Godrej Properties sees 70 cr impact from Gurugram project settlement
Realty firm says disputes with Orris Infrastructure over Godrej Air have been amicably settled; actions under the settlement agreement are currently being implemented
Canara Bank to raise up to 4,500 crore via AT1 bonds next Wednesday
The Basel III-compliant perpetual bonds will have a call option after five years, while the coupon rate is expected to be in the range of 7.85-7.90 per cent
Hero Motors revives M&A plans, eyes tech acquisitions after IPO
This move not only supports the companys organic growth but also positions it for competitive advantage in the global market.
Sebi launches Demat 2.0 pilot for tokenised corporate bonds using DLT
Three companies have issued tokenised bonds worth Rs 1,025 crore so far; the pilot will test issuance, holding, trading and settlement using distributed ledger technology
Darjeeling tea output drops as climate change threatens northeast India's iconic tea industry
Darjeeling tea has experienced significant climatic shifts over the past few decades, contributing to its categorization under the very high climate severity zone.
Rupeeflo launches nuvanta to streamline cross-border investor onboarding
nuvanta supports over 14,000 document types and has verified 30,000+ documents to date
Citi launches eFPI to cut foreign investor registration time in India to 5 days
Citi has launched eFPI@Citi, a digital solution that can cut foreign portfolio investor registration in India to five business days. The service uses technology to simplify onboarding as global investor interest rises, supporting faster access to Indian capital markets overall.
EV start-up BGauss crosses 1 lakh sales, targets 50,000 units by FY27-end
Ram Ratna Group-backed electric two-wheeler maker BGauss has crossed 1 lakh cumulative retail sales and is targeting close to 50,000 units by the end of FY27 as it The company is set to launch the C12 MaxR and pushes for a place among Indias top five EV two-wheeler makers
Cement firms to invest 13,000 crore in green energy capacity by FY28
Major cement companies are expected to raise clean energy capacity to 6 GW by March 2028 from around 4 GW in March 2026, generating significant annual savings
Sebi launches Demat 2.0 pilot for tokenised corporate bonds
Sebi has launched Demat 2.0, a pilot for tokenised corporate bonds using distributed ledger technology and wholesale e-rupee settlement. REC, L&T and IIFL have raised Rs 1,025 crore, while future phases will enable trading and retail investor access in India.
Rally in oil prices continues to batter the INR
The Indian rupee slumped sharply on Thursday as Brent oil hit 104 and soaring nearly 15% since the start of September amid escalatory strikes between Iran and the US. INR depreciated 38 paise to close at 95.46 (provisional) against the US dollar. Brent crude breaching crucial levels are mounting concerns over the country's import cost trajectory. The domestic currency is currently facing opposing forces, with downside pressure driven by a resumption of foreign portfolio outflows, following positive flows in July and August and crude oil trading at elevated levels. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar, then lost ground to close at 95.46 (provisional) against the American currency, registering a loss of 38 paise from its previous close. Local shares however fluctuated before ending slightly higher on Thursday. Benchmark indexes snapped a three-day losing streak even as Brent crude prices rose to reach their highest level since May, ..
Greaves overtakes Ola Electric, enters top five E2W makers in September
Greaves Electric Mobility recorded 2,645 registrations and a 4.6 per cent market share in the first nine days of September, moving ahead of Ola Electric
Welspun Corp among 6 smallcap stocks that hit 52-week highs & rallied up to 51% in a month
Six stocks in the BSE 250 Small-cap Index hit fresh 52-week highs as the Sensex gained 138 points to close at 74,902. Welspun Corp led with a 51% monthly gain, followed by Finolex Cables, Chennai Petroleum and Maharashtra Seamless.
Hero Motors IPO: 79-84 price band targets 3,815-crore valuation as EV business grows
The company will use 190 crore of the fresh proceeds to repay or prepay borrowings and 200 crore to buy equipment for expanding capacity at its UP facilityHero Motors has priced its 1,000-crore IPO at 79-84 a share, targeting a valuation of about 3,815 crore as the Tier-1 automotive component maker, which counts BMW and Ducati among its global customers, raises capital to cut debt and expand powertrain capacity while electric mobility becomes a bigger growth engine
At 16, Vyasji Mishra, a Class 11 student from Devsar in Madhya Pradesh, developed a hybrid stove that used kerosene and steam as alternative heat sources. The innovation won him a first prize at a science exhibition in 2003. Developed with his elder brother, the stove was designed to reduce kerosene consumption and smoke, though later testing found it could save about 20 per cent fuel.
PepsiCo India opens fifth food plant in Assam with 778 crore investment
The 44.2-acre Nalbari facility will make Lay's and Uncle Chipps, support over 5,000 farmers and create around 700 direct and indirect employment opportunities
Psychology says you may want something more the moment someone else wants it, heres why
Psychology suggests that this surprisingly common reaction may be influenced by social comparison, envy, perceived value, scarcity and psychological reactance. However, it does not necessarily mean that you are jealous or competitive. Sometimes, seeing another person show interest in something simply changes the way your brain perceives and evaluates its value.
School holiday tomorrow: In anticipation of the BRICS Summit, Delhi schools will be closed on September 11, 2026. Weather-related closures may also affect schools in Uttarakhand and Bihar. Meanwhile, Odisha and Himachal Pradesh are keeping a vigilant eye on weather conditions. Schools in Uttar Pradesh and West Bengal are generally expected to remain open; therefore, parents should verify their local school's status before sending kids to classes.
Manipur CM Yumnam Khemchand Singh visits home of slain musician Chongtham Vikram
Chongtham Vikram, a respected musician and music teacher from Manipur, died following a brutal assault at his residence in Kilokri, New Delhi. He is survived by his wife and son.
ECB raises interest rates as Iran war fuels inflation fears
The European Central Bank increased interest rates again this year. This action aims to control inflation fueled by energy prices and conflict. The bank now forecasts inflation remaining above its target for some time. Economic growth projections were also adjusted upwards by the central bank. Markets anticipate further rate hikes while the ECB awaits more data.
Goa [India], September 10: Borecha, the functional beverages arm of Latambarcem Brewers, has expanded its Bun-Taa! range with the launch of Bun-Taa! Orange Pop, a modern take on one of India's most nostalgic soft drink flavours. Inspired by the orange sodas that defined generations of Indian childhoods, the new beverage combines a familiar flavour with a contemporary functional formulation featuring zero sugar, probiotics and botanicals traditionally associated with digestive wellness.
Mobile chain SS Retail to raise 500 crore via IPO
Issue priced in a band of 403 to 424 per equity share
Putin, Xi, Modi in one room: Why the world is watching Delhi as BRICS summit takes centre stage
Manipal Payment and Identity Solutions IPO subscribed 31%
The offer received bids for 39.87 lakh shares as against 54.43 lakh shares on offer.
Steamhouse India IPO subscribed 2.21 times
The offer received bids for 8.30 crore shares as against 3.76 crore shares on offer.
Asset Reconstruction Company (India) IPO subscribed 87%
The offer received bids for 3.20 crore shares as against 3.69 crore shares on offer.
Karamtara Engineering IPO subscribed 3.61 times
The offer received bids for 9.16 crore shares as against 54.43 lakh shares on offer.
Birla Estates eyes 10,000-15,000 crore business development in FY27
The developer plans Rs 9,600 crore worth of launches in H2FY27 and aims to record annual bookings of Rs 15,000 crore over the next three fiscal years
SC: Won't agree to any changes in reconstitution of high-powered committee in NEET protests case
The Supreme Court rejected requests to change its five-member committee. This committee will examine police actions against student protesters in Delhi. The court stated it would not presume bias in its appointed panel. It will allow public input and consider all submitted evidence. The committee's findings will assist the Supreme Court's deliberations.
Sebi completes first phase of Demat 2.0 bond pilot; secondary trading next: Tuhin Kanta Pandey
The Securities and Exchange Board of India (SEBI) has completed the first phase of its Demat 2.0 pilot for corporate bonds and will next bring secondary-market trading into the new technology framework, SEBI Chairman said on Thursday.
India key to Anthropic's global strategy and AI playbooks: Irina Ghose
Anthropic India MD Irina Ghose says Indian developers' high tech intensity and willingness to experiment are helping shape AI playbooks for global markets
Sonaselection India IPO opens on September 17 at Rs 94-99 per share
Sonaselection India will launch its IPO on September 17 at Rs 94-99 per share, targeting around Rs 141.6 crore. The Rajasthan-based fabric maker will use proceeds to repay borrowings, buy machinery and fund corporate purposes before NSE-BSE listing.
Mumbai Global Fintech Fest 2026: Small Finance Banks seen taking big steps
Utkarsh Small Finance Bank Limited announced the introduction of modernised Retail Internet Banking and Mobile Banking platform at the GFF 2026
Veefin Solutions plans to migrate to mainboard
The company has submitted its Information Memorandum to BSE on Tuesday for migration and will apply for direct listing on NSE after receiving BSE approval
JioFinance launches membership programme and financial health tool
JioFinance360 functions as a consolidated financial health dashboard, aggregating data across bank accounts, investments, loans, insurance policies and recurring expenses into a single report
Sebi Chairman Tuhin Kanta Pandey stated the Closing Auction Session is here to stay. Traders express concerns about sharp expiry-day swings linked to this new mechanism. Global index provider MSCI acknowledged its recent rebalancing went well under the new framework. Sebi is reviewing derivative settlement price calculation methods after CAS implementation. The regulator will issue a consultation paper on potential changes to reduce shocks.
Sensex, Nifty stage late recovery to end higher after three-day slide
The domestic equity benchmarks staged a late recovery on Thursday, snapping a three-session losing streak. Buying during the closing auction helped the Nifty and Sensex overcome losses seen during regular trading.
Quick Wrap: Nifty Metal Index falls 0.65%
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Hiranandani enters Goa realty market with 450-crore partnerships
Under its Eleva model, Hiranandani Communities will provide project management consultancy services for two residential projects spread across five acres in Goa
HDFC Bank, Vodafone Idea and Reliance Industries were top traded contracts.
In the cash market, the Nifty 50 index rose 46.30 points or 0.20% to 23,477.80.
Benchmarks snap three-day losses; media shares climb
Media, PSU bank and private bank shares advanced while metal, pharma and auto shares declined.
Noida (Uttar Pradesh) [India], September 10: In a significant achievement in the field of medical care, a highly skilled team of doctors at Yatharth Hospital, Noida Extension successfully performed a Simultaneous Liver-Kidney Transplant (SLKT) on a 50-year-old patient.
Organised apparel retail sector likely to clock 12-13% growth this fiscal: CRISIL Ratings
A CRISIL Ratings report indicates that strong traction in value fashion, expansion of organised retail beyond large cities, and sustained demand for branded apparel will drive growth
