28 C 
MRPL boosts delivered oil buying as Iran war raises shipping risks
Mangalore Refinery and Petrochemicals Ltd plans to increase crude oil purchases on a delivered basis. This strategy aims to reduce shipping risks related to the ongoing Iran war. The company is also looking to diversify its crude sourcing to maintain full refinery capacity. CFO Devendra Kumar expressed hope for annual supply deals with Middle Eastern oil producers. Additionally, MRPL's fuel exports may decline as local consumption is projected to rise.
Sugar prices jump Rs 4/kg in a month, rise Rs 12-13 over year despite supply steps
Sugar prices in India have risen significantly over the past month in both retail and wholesale markets. Retail prices have now reached Rs 59.50 per kg while wholesale prices stand at Rs 55.40 per kg. Kolkata has the highest retail price at Rs 65 per kg followed closely by Delhi at Rs 64. The government is implementing measures to manage supply, including stock limits and imports. India produced 8.
OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
OneStack, a fintech provider, secured 12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
India's natural diamond industry eyes revenue stabilisation at $15 billion, not recovery
An analysis indicates India's natural diamond industry's revenues are projected to stabilize rather than rebound. Domestic demand is expected to cushion export weaknesses, particularly from the US and China. Lab-grown diamonds are reshaping the entry-level segment, affecting market dynamics and pricing. While profitability faces pressure, supply discipline is helping maintain stability in credit profiles. Overall, improved inventory and consumption trends could support a more robust industry outlook.
Indian airlines seek to boost domestic MRO capabilities as aircraft fleets expand
Indian airlines are focusing on building in-house capabilities for maintenance and repair as the aircraft fleet grows. Air India plans to establish an MRO facility in Bengaluru by 2027, while IndiGo emphasizes the need for self-reliance. Akasa Air's maintenance facility at Noida airport is expected to be operational by 2028. The commercial aircraft fleet in India, currently around 800, is predicted to double in coming years as air traffic increases.
Renewable energy key to India's energy security, German envoy Jasper Wieck says
Germany underscores the critical role of renewable energy in fortifying energy security for India. During recent discussions, German Ambassador Jasper Wieck highlighted the necessity for India to domestically produce solar panels and batteries. The Bharat Renewable Energy Summit is instrumental in establishing partnerships between Indian and German firms for local production.
As per the BIS guidelines, there are several gold articles on which the Rs 75 gold hallmarking fee is not applied. These include gold watch and fountain pain, among others. Many jewellery pieces also include two or more parts which may be joined together, like in earrings or necklaces. For such articles, buyers should ensure that each article in a pair and all detachable parts should be hallmarked with different HUIDs.
Pensioners can easily submit their Digital Life Certificate from the comfort of their home using the Jeevan Pramaan app. This innovative app employs Aadhaar-based face authentication through a smartphone camera. To aid the pensioners, a dedicated campaign is forthcoming to guide them through the submission process. Upon successful authentication, a Pramaan ID will be issued for future use, benefiting both central and state government retirees.
L&T Finance Pitch Point 2.0: Where an AI startups big idea meets enterprise scale
Pitch Point, L&T Finances contest for AI startups, is back for a second edition. Last years winners, Arrowhead AI and SpoofSense, talk about what they got out of it and what they would tell this years new applicants.
Car already insured? Add passenger cover mid-policy
Scotch whisky in Delhi may get cheaper after Diwali as excise department begins price revision
Scotch whisky prices in Delhi could drop by around 7% due to changes in import duties. The new rates will likely affect popular brands like Johnnie Walker and Glenfiddich. Price revisions will be implemented initially in hotels, clubs, and restaurants, followed by retail outlets. Existing inventories must be cleared before new stocks can be sold under revised rates. The anticipated price changes are expected to occur before the wedding season.
IndiGo to buy 100 jets from Brazil's Embraer
FD interest rates up to 8.50%: Check revised rates of 4 banks
Essar Power to invest Rs 4,500 crore in 300 MW renewable energy project in Andhra Pradesh
Essar Power is planning a significant investment in a 300 MW Firm and Dispatchable Renewable Energy project. The project aims to combine solar and wind power generation with Battery Energy Storage Systems for improved reliability. This initiative follows a power purchase agreement with NHPC Ltd, enhancing Essar's renewable energy portfolio. It also contributes to India's target of 500 GW of non-fossil fuel electricity by 2030.
Amid the growing debate over LTCG tax relief on equities, SBI Research suggested a level playing field between equity investments and bank deposits. It has proposed tax relief on savings account interest to make bank deposits more attractive to savers.
The debt mountain behind middle class' retail itch
EPF pension calculator: How can 50 lakh grow to 63 lakh after retirement?
One year after its commission, the 8th Pay Commission has completed 66% of its tenure. Its ToR indicates that employees and pensioners can expect final recommendations, the fitment factor and the revised pay structure soon.
Kotak Mahindra Bank gets CCI nod to acquire Deutsche Bank India's retail, private banking businesses
The transaction will be undertaken as a going concern on a slump sale basis by Kotak Mahindra Bank Ltd (acquirer) from the seller
What investment mistakes should investors avoid this Diwali? Experts share 5 lessons
As the Diwali festivities unfold, investors should exercise caution and resist the urge to make hasty decisions based on the current market climate. It's vital to adhere to preset financial objectives and strategies rather than chasing after recent high-performers, which can lead to recency bias and unnecessary risk. A thorough evaluation of asset allocations, particularly in gold and silver, is essential to safeguard long-term wealth without succumbing to emotional impulses.
How Students Can Use AI to Study Smarter Without Letting AI Do the Thinking for Them
Join the Winter Cohort of the AI Bootcamp for Students by Times of India, where learners will harness cutting-edge AI tools like Claude, Gemini, and NotebookLM. This program aims to transform education by empowering students to explore difficult concepts and craft customized learning materials. Participants will also learn to sharpen their questioning abilities, design interactive review content, and strengthen their overall study habits.
EloElo Group raises $80 Million in Series C funding led by Hornbill Capital, NBCUniversal
EloElo Group has successfully raised $80 million in a Series C funding round to expand its AI-driven entertainment ecosystem. The company's focus will be on producing new original content and launching international micro-dramas. With over 40 million active users, EloElo plans to enhance its AI production capabilities through Dolphin AI. The funding will also support the company's aggressive growth strategy across diverse language offerings.
Robotic surgery is increasingly covered by health insurance in India, but not without complications. Despite having a high sum insured, policyholders must navigate sub-limits and exclusions that can significantly reduce payouts. Understanding these nuances before undergoing surgery is crucial to avoid unexpected out-of-pocket expenses when the final bill arrives.
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
Closed loan still showing up as active on your credit report? Here is how to fix it in 3 steps
Loan closed but CIBIL still shows it as active? Gather your NOC, contact your lender and raise a dispute with the credit bureau. Here is the full process.
Festive shopping on EMIs? Beware the debt trap of stacking them
Festive deals and small monthly payments make big-ticket purchases easier, but stacking EMIs can strain cash flows, erode savings and hurt future borrowing prospects.
Diwali 2026: Will banking stocks shine in Samvat 2083? Analysts list top picks
With Diwali 2026 on the horizon, banking stocks like HDFC Bank, ICICI Bank, and Karur Vysya Bank are drawing attention from analysts as potential winners for Samvat 2083. Following a period of volatility, these stocks are anticipated to regain momentum, driven by consistent loan growth and enhanced management practices. Investors are advised to navigate the changing landscape prudently as opportunities unfold.
BLS International Services net profit rises 8.6% to Rs 201.7 cr in July-September
BLS International Services reported an 8.6 percent growth in profit after tax for the quarter ended September 2026. The company's revenue from operations rose by 32 percent compared to the same period last year. Investments in AI technology, automation, and employee upskilling are part of their growth strategy.
BHEL bags orders worth up to Rs 28,000 crore from Adani Power for four 1,600 MW projects
Bharat Heavy Electricals Limited has received orders from Adani Power Limited for four power projects. Each project has a capacity of 2x800 MW and is valued between Rs 5,000 crore to Rs 7,000 crore. The total contract value for all projects is estimated to be between Rs 20,000 crore and Rs 28,000 crore. The contracts involve the supply of equipment and services for the projects.
Taxpayer wins GST refund denial case after depositing GST on airline ticket with the govt and later refunding the GST back to passengers due to cancelled ticket; GSTAT orders GST department to issue GST refund with interest to taxpayer
Best large cap mutual funds to invest in November 2026
One may invest in large cap mutual funds with a minimum investment horizon of five to seven years. Look out for our monthly updates where we keep discussing the performance of these schemes. We typically come up with our updates in the first or second week of every month.
Gold and silver prices declined in India on 4 November, ahead of Dhanteras and Diwali 2026. Check the latest retail rates of 24K, 22K gold and 999 fine silver across major cities, along with domestic and international market trends.
Bajaj Finserv Share Price Live Updates: Bajaj Finserv's Price and Volatility Overview
The Ministry of Railways has approved a 30-day non-productivity-linked bonus for FY 2025-26. Here are the eligibility conditions, the calculation formula, the 7,000 monthly calculation ceiling and the special provisions for employees across different service categories.
Titan Company Share Price Live Updates: Titan Company Trading Insights
Maruti Suzuki Share Price Live Updates: Maruti Suzuki's Current Market Position
Drought threatens India's 20% ethanol blending target as food takes priority
India faces a significant challenge in its ethanol production due to the lowest monsoon rainfall experienced in over a decade. This situation has prompted New Delhi to prioritize food security over its ethanol blending targets. Estimates suggest that the ethanol blending ratio may decrease this supply year from 20% to around 15%. Producers are being squeezed by increased corn prices and reduced purchasing prices for ethanol.
Asian Paints Share Price Live Updates: Asian Paints Price Movement Analysis
Bajaj Auto Share Price Live Updates: Bajaj Auto News
Britannia Share Price Live Updates: Britannia's Stock Performance Today
Cipla Share Price Live Updates: Cipla's Current Trading Status
The Punjab HC issued a contempt notice to the state Chief Secretary and directed to file a compliance affidavit within 10 days regarding the non-compliance of the High Court's earlier order. The next hearing on November 17.
PFRDA has revised NPS scheme naming rules, removing category codes from MSF scheme names while requiring separate risk-category disclosures. It has also clarified how PoPs must display pension fund schemes during subscriber onboarding.
Sensex, Nifty soar to a two-month high as FPIs ramp up buying activity
Indian benchmark indices Sensex and Nifty closed at their highest levels in nearly two months. Foreign investors have been net buying Indian equities, contributing to market gains over the past sessions. HDFC Bank was a significant contributor to the Nifty's gains, along with other major stocks like ICICI Bank. Decreasing crude oil prices have improved market sentiment among investors recently.
Indus Towers equips 50,000 sites with solar power; plans to double count by FY29
Indus Towers has installed solar systems at 50,000 telecom sites, adding around 300 MW of capacity, and aims to double the number by FY29. The company says the initiative, combined with battery storage and energy-management systems, has helped cut energy costs by 8-10% per kilowatt and reduce diesel consumption.
Explained: Why Sebi wants mutual fund investors to switch to direct plans
Sebi has directed mutual fund houses to make direct plans the default option on digital platforms. This change will take effect from November 1, when investors will see direct plans pre-selected for investment. Direct plans have lower expense ratios compared to regular plans, benefiting long-term investors through compounded returns. These changes aim to reduce conflicts of interest associated with higher commission payments in regular plans.
Shapoorji Pallonji to monetise 3,000-acre land, eyes Rs 10,000 cr from plotted developments
Shapoorji Pallonji Real Estate aims to develop a substantial plotted township in the Mumbai-Pune corridor. The project covers 900 acres and has an estimated gross development value exceeding Rs 6,000 crore. The company has secured approvals for the first phase, which spans 200 acres and will generate about Rs 1,800 crore.
Irdai mandates four-tier structure for motor insurance from Dec 15
Irdai will implement a four-tier structure for motor insurance covering private cars and two-wheelers. Customers will have the option to select separate covers, including mandatory third-party liability and optional personal accident cover. Existing policyholders can add occupant liability coverage without canceling their current policies.
Lenders accept Supreme Housing's Rs 522-crore settlement offer
Canara Bank along with other lenders accepted a 522-crore one time settlement offer from Supreme Housing and Hospitality. This settlement will help the company resolve debts close to 700 crore, representing a 75% recovery for involved banks. The one-time settlement includes both fund and non-fund exposure from corporate guarantees given to subsidiary entities.
NBFCs redesign lending models ahead of revolving credit curbs
Non-banking financial companies are innovating loan products to align with upcoming Reserve Bank of India guidelines. These guidelines aim to limit revolving credit facilities, prompting firms to develop term loans. Bajaj Finance has already begun launching new term loan variants, while Tata Capital is testing modified flexi-loan products. Other NBFCs are reviewing their positions on revolving credit exposure ahead of the final regulations.
Jio hunts for partners for wireless broadband tech
AI boom to drive demand for clean, affordable power: Pralhad Joshi
Union Minister Pralhad Joshi highlighted the importance of affordable, clean electricity access amid rising artificial intelligence adoption. He stated that this necessity will become a strategic imperative for reshaping economies. India has been re-elected as president of the International Solar Alliance, with plans for continued investment and solar deployment.
Tata-Iveco aim for global CV business: Chandra
Mumbai: Tata Motors and Iveco Group are aiming to build a global commercial vehicle business focused on growth rather than consolidation, N Chandrasekaran, chairman, Tata Sons, said on Tuesday, outlining the rationale behind the transatlantic deal.The $4.32 billion acquisition of the Italian truck and bus maker marked the biggest overseas deal for Tata Motors in the CV segment and the largest by a Tata Group automotive entity since the 2008 acquisition of Jaguar Land Rover from Ford Motor Company for $2.3 billion. This should not be seen as a consolidation effort, said Chandrasekaran, also the chairman of Tata Motors and Iveco Group, at a press conference in Turin. This is about the future.Also read: Indian auto's real test lies ahead after firecracker start to festive season135512105Announced July 30, 2025, the Iveco deal got completed on October 30, 2026, with Tata Motors announcing settlement of its tender offer, securing an 89.42% stake in the CV maker and making it an indirect unit. Remaining steps towards acquiring the balance stake and delisting Iveco are underway.The combined entity will have annual revenues of about $24 billion and sales volume of nearly 600,000 vehicles, with a presence in more than 130 countries, over 73,000 employees and 9,300 sales and service touchpoints.Girish Wagh, managing director and chief executive of Tata Motors said the companies' complementary geographical presence offered significant opportunities. While Tata Motors brings leadership in India and a growing presence in Asia, the Middle East and Africa, Iveco has established operations across Europe and Latin America, he said. The opportunity is not to make one organisation more like the other, he said. It is to bring out the best in both.Also read: Tata Projects wins contract to build global automaker's plant in MaharashtraChandrasekaran expects volumes and revenues in the combined enterprise to grow significantly in the coming five years, alongside an improvement in margins. He didn't provide specific targets, saying the management teams would outline the business plan.A key area of collaboration will be bringing Iveco vehicles to India and leveraging Tata Motors' platforms for international markets. Chandrasekaran said some Iveco products identified as relevant to India would initially be introduced through semi-knocked-down manufacturing and subsequently localised.It is not simply about greater scale or wider footprint, said Wagh. It is about the new possibilities that this footprint creates, giving us a significantly greater runway for growth across markets, products and technologies.He also pointed to opportunities in components and batteries, while Tata Motors' platforms could be taken to other markets through Iveco. On powertrains, Chandrasekaran said Iveco's FPT engine business could expand into industrial applications across India, Africa and Asia, leveraging Tata Motors' distribution network. Tata Motors will, however, continue its more than three-decade-old joint venture in India with Cummins for heavy commercial vehicle engines.Tata Motors and Iveco will also collaborate on electric and hydrogen technologies, connected vehicles, software-led platforms and decarbonisation. Post acquisition, Iveco will retain its headquarters in Turin, Chandrasekaran said, reiterating the group's commitment to its existing industrial footprint.Wagh said the combination would bring together the companies' strengths in engineering, frugal product development and technology.
Wockhardt seeks 14-year data shield for India-made drugs
Mumbai-based Wockhardt has struck success in its innovative research on a range of antibiotic drugs, bridging a global pipeline gap for difficult-to-treat infections. In May this year, the company secured approvals from Indian and US drug regulators for a breakthrough drug, Zaynich (cefepime + zidebactam), to treat complicated urinary tract infection, including acute pyelonephritis or severe kidney infections. Wockhardt has showcased six drugs to treat antimicrobial resistance (AMR).
Big-budget Ramayana set for a slow start at theatres
Advance ticket sales for The Ramayana: Part 1 have not met the expectations of trade analysts and distributors. Data shows that ticket sales are underwhelming despite the film's grand scale and marquee cast. Concerns have been raised about the film's music not resonating with audiences and the quality of its VFX. Experts have highlighted inflated advance booking figures, suggesting lower actual sales than reported.
Air India CEO targets lower costs, higher passenger yields to steer airline towards profitability
Air India CEO Tewolde Gebremariam said the airline is working to reduce operating costs and improve passenger yields as it pursues a financial turnaround. The plan includes bringing unit costs in line with industry levels, restructuring its Delhi network, expanding international flights from Mumbai and exploring Bengaluru as a third hub.
EV maker Eka plans production in line with infra readiness
Eka Mobility, a Pune-based electric vehicle maker, is facing delays with electric bus deliveries due to charging infrastructure issues. The company can only deliver around 2,000 electric buses from an order book of approximately 11,000 over the next two years. Depot readiness takes about a year as state transport needs to establish necessary infrastructure. Chairman Sudhir Mehta suggested that the government should separate depot development from bus procurement.
Gold smuggling jumps to 50 tonnes as 15% import duty widens gap for unofficial supply
Gold smuggling in India is estimated to have surged to 50 tonnes in the September quarter from three tonnes a year earlier after import duty rose to 15% from 6%, according to the World Gold Council. Meanwhile, demand remained 29% lower year-on-year as record-high prices weighed on purchases.
Indian oil refiners expect healthy margins amid global supply disruptions
A combination of these factors offer Indian refiners an opportunity to capitalise on stronger diesel, gasoline and aviation turbine fuel (ATF) cracks. Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation and Hindustan Petroleum Corporation (HPCL) reported record refining performances in the September quarter (Q2) and expect the run to continue.
An Income Tax search uncovered 8.66 crore in cash transactions on a woman's computer, triggering a massive tax demand. But ITAT ruled that the expenditure belonged to a real estate company, not the woman, and deleted the tax addition.
Many consumers may not know how to distinguish genuine gold from jewellery containing a higher proportion of other metals. While professional laboratory testing remains the most reliable way to establish gold purity, certain simple checks at home can help identify possible irregularities
Delhi airport working with regulators to further ease security clearance for transfer passengers
Delhi airport is working with security regulators to ease clearance procedures for transfer passengers, who account for 30-35% of its annual traffic, GMR Airports Executive Director S G K Kishore said. He also defended airport charges, saying higher infrastructure investments push up tariffs, which could decline over time.
PNB and Canara Bank have revised their fixed deposit interest rates from November 1 and 2, 2026, respectively. The changes affect select tenures and returns for general customers and senior citizens, while Axis Bank has also revised rates on bulk deposits of 3 crore and above from November 3.
An Instagram reel showing the facilities inside the Vande Bharat Sleeper train has crossed 2 million views. Shared by @vlogwithprateek_, the video offers a glimpse of the onboard meals, bedding arrangements and sleeper coach interiors during a Varanasi-New Delhi journey. The new service connects the two cities via Prayagraj, Kanpur Central, Aligarh and Ghaziabad.
Small-cap mutual funds offer growth potential but carry high risks. Experts recommend allocating 10-20% of equity portfolios to small caps, depending on risk appetite and investment horizon, while preparing for sharp market corrections.
NPPA updates list of reduced MRP of 1,085 anti-cancer drugs
The National Pharmaceutical Pricing Authority updated the maximum retail price for 1,085 anti-cancer medicines. This revision follows a previous decrease of prices for 543 anti-cancer drugs announced on October 28. The updated list contains prices based on information submitted by pharmaceutical companies up to November 3. The NPPA will continuously update this list as more manufacturers submit revised prices.
While hallmarking provides an important means of verifying the purity of precious metals, consumers should not rely solely on the appearance of a silver coin. There are several simple tests that can offer preliminary indications of whether a silver coin is genuine.
PNB staffer, Pune man arrested in alleged Rs 10.24 crore bank fraud case
An office assistant of Punjab National Bank in Greater Noida and a private individual have been arrested for alleged fraud. The fraudulent activity involved Rs 10.24 crore in unauthorized withdrawals from multiple customer accounts. Punjab National Bank's investigation began after a customer reported suspicious debit transactions in her account. The accused allegedly carried out the transactions over three years using compromised banking credentials.
Titled Vision 2047: Solar Manufacturing from Polysilicon to Power Plant, the report presents a pathway for India to move beyond module assembly and set up manufacturing capabilities across the entire solar value chain -- from polysilicon and ingots to wafers, cells and modules, the statement said.
8th Pay Commission: Will pensioners get 15-year commutation period slashed after high courts say no?
The demand comes after two High Courts, in separate judgments delivered within 18 months of each other, declined to shorten the existing restoration period.
Nexus Select Trusts Q2 NOI rises 8% to Rs 504 cr, consumption up 13%
Nexus Select Trust reported an 8% year-on-year increase in net operating income for the second quarter. The company's retail assets experienced a 13% rise in consumption compared to the previous year. Nexus declared a distribution of Rs 359 crore, maintaining a 100% payout to unitholders for 13 consecutive quarters. The firm is expanding its portfolio with plans to develop a Grade-A mall and hotel in Guwahati.
Physical gold and gold ETFs have different capital gains tax rules. While gold ETFs qualify for LTCG taxation after 12 months, physical gold requires a 24-month holding period. Compare tax rates, GST and other costs before investing on Dhanteras 2026.
CCI clears Kotak-Deutsche deal, KKR vehicle's Gentari investment
Kotak Mahindra Bank has received approval for the acquisition of Deutsche Bank's retail and wealth management business. The acquisition will take place on a slump sale basis from Deutsche Bank's branches in India. This business includes services such as deposits, loans, investments, insurance, and foreign exchange products. KKR-backed Sapphire US Holdco will also subscribe to securities of Gentari Renewables India, which specializes in renewable energy.
Gulf Oil eyes market leadership in India
Silver ETFs have outperformed gold ETFs over one and three years, according to Value Research data. However, gold has proved more resilient during the recent correction. Here are the top-performing ETFs and five risks investors should check before investing.
Airbus plans to increase its annual sourcing of components and services from India to USD 2 billion before 2030, up from the current USD 1.6 billion. India head Jurgen Westermeier called the country a very important market and stressed the need to strengthen local manufacturing, MRO infrastructure and aviation training as the country's aircraft fleet expands.
Road ministry signs MoU with Bihar to use river silt for national highways construction
The ministry of road transport and highways signed an MoU with the Bihar government for river desilting. This initiative aims to use excavated silt in ongoing and future National Highway construction projects. A total of 1,078 lakh cubic metres of silt is planned for utilization in 43 highway projects in Bihar.
India elected as President of International Solar Alliance for third straight term: Pralhad Joshi
Addressing media at the summit, Joshi said, At the ninth session of the ISA, we reaffirm a fundamental belief: progress becomes truly meaningful when its benefits are shared. He congratulated France on the occasion of being reelected co-President of the ISA.
SBI targets 14-15 pc credit growth, govt may revisit LTCG tax amid FPI outflows: Chairman CS Setty
Speaking exclusively to following the bank's Q2 FY27 financial results presentation, Setty expressed confidence in sustaining credit growth despite concerns over rising borrowing costs and competition for deposits.
Regional airline FLY91 plans to expand its fleet from six to around 60 aircraft over five years, backed by an order for 40 planes scheduled for delivery between 2027 and 2032. The airline also aims to operate nearly 350 weekly flights this winter, prioritising domestic expansion before exploring international routes.
According to Tanishqs official website, gold prices across different purity categories increased on November 3, compared with the previous day.
Kotak - Deutsche Bank deal gets CCI nod
The Competition Commission of India (CCI) on Tuesday approved Kotak Mahindra Bank Limiteds proposed acquisition of Deutsche Bank AG's retail banking, private banking and wealth management businesses in India.The proposed transaction also includes referral arrangements between the parties through their affiliates, it said in a release.Earlier in June this year, Kotak Mahindra Bank and Deutsche Bank AG entered into a definitive agreement for acquisition, comprising approximately Rs 29,000 crore (Euro 2.7 billion) in loans, Rs 16,000 crore (Euro 1.5 billion) in deposits, and Rs 10,500 crore (Euro 1.0 billion) of assets under management, serving around 150,000 customers through a team of approximately 1,000 employees.This transaction aligns well with our focus on the affluent and SME segments, Ashok Vaswani, Managing Director and CEO, Kotak Mahindra Bank had said.It is a strong strategic fit and makes sound commercial sense. It also brings a high-quality customer franchise and experienced teams and adds incremental scale and adjacency opportunities. We look forward to warmly welcoming these customers and colleagues to the Kotak family, and our priority will be on disciplined integration and ensuring continuiy, while building further depth and capability in this business, he added as the lender announced the deal in June.Amid the transition, approximately 1,000 Deutsche Bank employees in India are expected to join Kotak, underscoring the importance both banks place on continuity for customers and long-term opportunities for employees.
15+ features of India's first Bullet Train
The 8th Pay Commission completes one year on 3 November 2026. From its constitution and stakeholder consultations to employee demands and the fitment factor debate, here are five key developments and what central government employees and pensioners can expect on salary and pension revision.
Tata-Iveco combo to form world's 4th largest CV co
Listed realty firm Phoenix Mills Ltd appoints Parveen Mahtani as group legal head
An alumna of Government Law College (GLC), Mumbai, Mahtani began her career at the law firm Desai & Diwanji as an associate, then joined another firm, Nishith Desai Associates. In 2005, she moved to an in-house role and joined IL&FS Trust Company Ltd. as legal head for the debt recovery division.
Indias illegal gold imports surge 1,500% after tax hike
India's illegal gold imports surged dramatically in the third quarter of 2023, reaching 50 metric tons. This rise is attributed to the government's recent duty hike on gold and silver imports. The increase in informal shipments is linked to previous tax increases that incentivized smuggling and cash sales. Gold demand typically rises during major festivals, though year-on-year metrics indicate a decline.
India adds 34 new universities to QS Asia rankings; top six slip
QS Asia University Rankings 2027: India has strengthened its higher education system, with 325 universities ranking in QS World University Rankings: Asia 2027. While the country added 34 new institutions, its leading universities experienced declines in their rankings. Indian Institute of Technology Delhi remained the highest-ranked institution but fell to 66th position. Despite setbacks, India excelled in research output relative to academic staff among Asian countries.
Lighthouse Learning in talks to acquire Hyderabad's Kennedy School
Lighthouse Learning Group, previously EuroKids International, is negotiating to acquire Kennedy High and Meru International School. These acquisitions, valued at Rs 400 crore each, are expected to finalize in the coming weeks. The company aims to expand its network of K-12 schools to 100 over the next few years. Lighthouse Learning has undertaken several acquisitions since 2021 to grow its education portfolio.
NCRTC to run 20 additional Namo Bharat Trips from November 4 amid rising pollution
The additional services will run along the entire corridor between Sarai Kale Khan in Delhi and Modipuram in Meerut, the NCRTC said in a statement. The AQI in the national capital recorded in the 'very poor' category with a reading of 350 at 4pm, according to the CPCP Sameer App.
