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India supplies Wall Street with CEOs but has a shortage at home
Indias biggest private banks are finding it increasingly difficult to identify executives with the breadth of experience needed to lead large, complex institutions. HDFC Bank and Kotak Mahindra Banks CEO searches have highlighted a surprisingly narrow talent pool, as regulatory requirements, limited succession pipelines and competing financial sectors constrain potential candidates.
Mirae Asset AIF settles with Sebi for Rs 12.7 lakh over investment limit breach
Mirae Asset Venture Opportunity Trust and its managers settled with Sebi for Rs 12.7 lakh. This settlement followed a breach of regulatory investment limits in a single company. The fund had invested significantly more than permitted in Supermarket Grocery Supplies Pvt Ltd. This action was taken after the regulator's examination revealed the investment percentage. The entities agreed to the settlement to resolve the legal proceedings.
New UPI MDR Explained: Impact on mutual funds, brokers & investors
The implementation of a new 0.02% merchant discount rate will influence certain UPI transactions, including one-time contributions to mutual funds and topping up broker wallets. Notably, recurring SIPs using UPI AutoPay will remain exempt from this fee. Discount brokerage firms may see a rise in operational costs, which could lead to indirect cost implications for their clients.
Foxconn, Tata Electronics in overdrive for making iPhone 18 Pro and Pro Max models for exports
While this is the second time Apple will be selling made-in-India iPhones on the start date, its a first for Pro and Pro Max models. Last year, India-made iPhone 17s were launched on the first day of sales, with the Pro and Pro Max following. The Duo, Apples first foldable phone, is not being made in India.
Aramco closes supply tap for Indian refiners, new oil barrels to cost more
Saudi Arabia has sold some spot cargoes to traders expected to deliver small volumes to Indian refiners through Hormuz. The risk-taking traders are likely to follow the same modus operandi they have used in recent weeks, buying Iraqi crude at a deep discount and moving it through the strait to the Gulf of Oman, where they transfer the cargoes ship-to-ship for onward delivery to Indian and other customers.
End of free era for UPI: Here's what changes, what doesn't
Starting 15 Oct, UPI will introduce a capped merchant fee on transaction values above 2,000, while remaining entirely free for consumers and most small vendors. The policy shift provides a sustainable revenue model to upgrade digital infrastructure and align UPI with global payment standards.
Centre seeks NPPA report on high markups in hospital consumables
The Centre has requested a report from the NPPA regarding price discrepancies. Maharashtra FDA flagged significant gaps between trade prices and MRPs for hospital items. A survey revealed markups of over 2,800 percent on certain medical consumables. This situation may revive discussions on trade margin rationalisation for medical devices. The medical device industry supports calls for fair pricing and ethical practices.
MDR effect: Retailers, apparel makers warn of price hikes
Various retailers across categories may increase prices or lower festive discounts, since they are, as it is, dealing in an inflationary environment and higher costs of logistics this festive season because of disruptions linked to the West Asia war earlier in the year, said Kumar Rajagopalan, chief executive, Retailers Association of India (RAI).
UPI MDR could create Rs 27,000 crore revenue pool by FY28: Bernstein
A 40-basis-point MDR on UPI transactions could create a large revenue pool. Issuing banks and UPI apps will receive substantial portions of this estimated revenue. Merchant-side payment apps and acquiring banks will also capture significant revenue shares. This levy aims to sustain UPI infrastructure and support its continued expansion. The charges remain well below card fees and exempt many smaller transactions.
Counterpoint Research data showed an almost identical drop in online contribution to smartphone sales. Researchers and industry executives attributed the reversal to weaker demand for entry-level products, fewer online discounts and wider availability of EMI financing at physical stores.
RBI clarifies principal business rules for NBFCs, CIC definition after Tata Sons CoR rejection
The Reserve Bank of India has clarified definitions for financial activity and core investment companies. This clarification follows the rejection of Tata Sons' application to surrender its registration. Companies must meet specific asset and income thresholds to be regulated by the central bank. Tata Sons, an unlisted holding company, now faces enhanced regulatory scrutiny. The central bank's decision effectively pushes Tata Sons towards a mandatory public listing.
Hormuz crisis lifts ONGC oil business, squeezes petrochemical unit as feedstock costs surge
The financial landscape for ONGC's petrochemical unit OPaL is alarming, as it faces considerable losses amid skyrocketing naphtha and gas prices. This situation starkly contrasts with ONGC's thriving oil exploration sector. To stabilize its finances, OPaL intends to divest from specific product lines and plans to import lower-cost ethane feedstock by the fiscal year 2029-30.
UPI MDR could cost 47.2 bps with GST for merchants
The new framework introduces a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, capped at ?300 on transactions of Rs 75,000 and above, while consumers will not be charged. It takes effect from October 15. GST is paid by the service provider who typically recover the amount from whoever receives service.
Gail India Gets PNGRB approval to transfer city gas assets to subsidiary
The PNGRB has approved Gail India's transfer of six city gas distribution areas. This move paves the way for Gail Gas to proceed with its initial public offering. Gail Gas plans to raise 3,000 crore through this upcoming public offering. The subsidiary aims to list its shares by the end of the current financial year. Gail India will then dilute a minority stake in its wholly owned subsidiary.
Delhi Airport ranks No 28 in world's most-connected international airports list
Delhi airport secured a strong position at 28th globally. This marks the highest ranking for an Indian airport in the report. Mumbai airport also showed significant connectivity in its category. IndiGo played a major role in flights at both airports. These airports serve as India's primary international gateways.
India clears 642 UK car imports under FTA in two months of implementation
India has approved import quotas for 642 passenger vehicles from Britain. These imports will benefit from concessional tariffs under a new trade pact. Seven companies secured allocations for the remainder of this year's quota. The Directorate General of Foreign Trade had invited applications for vehicle imports. This move facilitates trade under the India-UK Comprehensive Economic and Trade Agreement.
NFRA to release second Staff Series on Technology in Audit
The series is in line with NFRA's obligations to suggest measures to improve overall audit quality and promote awareness of the significance of accounting and auditing standards, auditors' responsibilities, audit quality and other such matters.
Before handing over your flat for redevelopment, check these 6 safeguards
It is important for residents to complete their due diligence and secure adequate safeguards before handing over possession of the existing building to the builder
India slashes windfall tax on petrol, diesel, ATF exports
The government has reduced windfall taxes on petroleum exports. Levies on petrol, diesel, and aviation turbine fuel have been lowered. This change follows the government's regular fortnightly review of export duties. The duty on petrol exports is now Rs. 0.5 per litre. Diesel and ATF exports will see duties of Rs. 20 and Rs. 15 per litre respectively.
Credit card EMI vs personal loan: Which costs less for big-ticket purchases?
A lower EMI does not necessarily mean a cheaper loan. Before choosing between a credit card EMI and a personal loan, calculate the total amount payable under both options.
NMDC recovers 27.29 carat gem diamond from Panna
Based on its colour, carat weight,and clarity (CCC), and add one S-Shape ,the newly recovered 27.29-carat diamond is initially estimated to be valued at around Rs 1 crore. The final value will be determined through the prescribed evaluation and auction process, the company said.
Fujifilm to invest Rs 800 cr in semiconductor materials manufacturing facility in India
Japanese firm Fujifilm will invest USD 83 million in a new manufacturing facility. This facility will produce essential semiconductor materials in two phases. Commercial production is anticipated to commence in fiscal year 2028. The company plans to support front-end process chemicals initially. Fujifilm seeks to align with India Semiconductor Mission's vision and policies.
US names India, China, Pakistan among drug transit, illicit drug-producing nations for FY27
The United States has designated India, China, and Pakistan as major drug producing or transit countries. This presidential determination covers twenty-three nations for fiscal year twenty twenty-seven. Afghanistan, Bolivia, Burma, and Colombia were separately identified for failing counternarcotics obligations. Inclusion on the list considers geographic and economic factors for drug production and transport. This designation does not necessarily reflect current government efforts or US cooperation.
Should you choose zero copay for your health insurance? Why? Why not? Explained
A zero-copay health insurance policy reduces hospitalisation costs but often comes with higher premiums. It's crucial to compare coverage, premiums and potential expenses before selecting one.
New UPI charge may put netbanking back in play for Indian stockbrokers
Netbanking costs a flat Rs 8-12 per transaction, making it cheaper than UPI for large transfers by brokers after a 0.02 per cent MDR takes effect on October 15
Government reviews use of ship-recycled steel to boost manufacturing
Ministers reviewed using ship recycling steel to boost domestic production. Key stakeholders examined regulations for secondary steel usage. Discussions focused on expanding recycled steel applications to new sectors. This aims to enhance value generation from ship recycling operations. The government promotes circular economy and sustainable global benchmarks.
Air India's consolidated loss widens to Rs 22,238 crore in FY26
Air India's consolidated loss widened to over Rs 22,000 crore in fiscal 2025-26. Total income declined while total expenses increased during the same financial period. Aircraft repair costs rose, but fuel expenses saw a decrease. Foreign exchange losses significantly increased, impacting the airline's financial performance. The company expects insurance to cover liabilities from the AI171 accident.
EPF wage ceiling hike: Lesser take home salary for these employees; know how you will be impacted
In a significant update, the EPFO wage ceiling limit has been modified to Rs 25,000 monthly. This modification will add fifty-one lakh workers to the social security umbrella. With this change, both employee and employer contributions will go up from Rs 1800 to Rs 3000, potentially cutting monthly take-home pay by Rs 1200.
On September 17, Prime Minister Modi's birthday, 3,000 will be credited to 1.58 crore eligible women under the Annapurna Yojana.
SC asks RBI to secure compliance of norms on seizure of financed vehicles by NBFCs, banks
The Supreme Court mandated the RBI to enforce lawful vehicle repossession rules. Financial institutions cannot seize vehicles without due legal process. The court ordered a finance firm to close loan accounts and refund money. Compensation was awarded for mental agony and livelihood loss. This ruling ensures borrowers are not dispossessed of vehicles arbitrarily.
The Union Cabinet raised the EPFO wage ceiling from 15,000 to 25,000, potentially increasing the life insurance cover under the EDLI scheme from 7 lakh to an estimated 10.5 lakh. This change could benefit between 50 lakh and 1 crore new EPFO members.
Adidas begins layoffs at India Tech Hub in Gurgaon, over 350 employees affected
Adidas has initiated layoffs at its India Tech Hub in Gurgaon. Approximately 350 employees, including engineers and data scientists, are affected. Affected staff received exit letters or are transitioning until December. The company cited business needs for organizational simplification and strengthening capabilities. India remains a strategically important market for Adidas' growth.
Moving funds from NRO to NRE? Crucial tax rules and transfer limits you need to know
Transferring capital from an NRO account to an NRE account is fully permitted, but it remains strictly regulated by tax and foreign exchange rules.
Manipur faces 90 MW power shortage, MSPDCL says rotational power cuts continue
The shortage is linked to the prevailing power crisis being experienced across India, MSPDCL said. Despite the availability of funds, the state is facing difficulties in ensuring adequate power supply, it added.
Creating an effective emergency fund involves assessing essential expenses and estimating recovery time based on personal situations.
Inheritance of online businesses in India: What happens to a creators digital assets after death?
Succession planning for account access, earnings, intellectual property and commercial agreements is essential.
India targets 25-30% food processing level to boost value addition, exports
India aims to raise the share of agricultural produce undergoing food processing to 25-30 per cent from the current 16-17 per cent, as the government seeks to expand value-added production, reduce post-harvest losses and improve the sector's export potential, a senior Ministry of Food Processing Industries official said in a press release issued by Anuga Select India.
Karnataka to build end-to-end electronics hub: Minister MB Patil
The state already has more than 20,000 chip designers and over 10,000 analogue engineers, while more than 100 companies are engaged in chip design, Patil said.
Indian steel industry creating new opportunities for ferro-alloy sector: IFAPA
As India's steel sector expands, local ferro-alloys producers find exciting prospects ahead. The industry emphasizes the need for secure access to raw materials and competitive input costs to fuel growth. Prioritizing quicker exploration of domestic mineral resources is vital, alongside negotiating for zero import duties on select raw materials to cater to increasing domestic and international steel demands.
Karnataka HC quashes Rs 482-crore penalty on ACC, directs govt to execute mining lease
The standoff escalated in 2025 when the department issued a revised royalty demand of Rs 367.51 crore (after adjusting Rs 125 crore already deposited by the firm), followed by a separate penalty notice of Rs 482.70 crore under the Mines and Minerals (Development and Regulation) Act.
Take steps to accelerate discovery of new mineral resources, says NITI Aayog
NITI Aayog suggests improving access to geological data and capital for exploration companies. Streamlining approvals and procedures will help reduce project delays significantly. Promoting domestic production of specialized alloys and integrating suppliers is also recommended. Establishing traceable collection systems for batteries and e-waste is crucial. The report highlights India's mineral trade share and key export markets.
The EPFO wage ceiling has been raised to 25,000, bringing an additional 51 lakh employees under mandatory provident fund cover, and widening social security coverage for workers. Today, we calculate how this can impact your pension payout.
Sensex Reclaims 74,300 and Nifty Settles Above 23,200 Led by Banking and FMCG Buying
Can visiting India bring your overseas salary under the tax net? What NRIs should know
An NRI in Singapore for 12 years visited India to manage inherited assets after their mother's death. They anticipate a three-month stay and are questioning whether it will make their Singapore salary taxable in India.
HUDCO and Tata Elxsi among top 5 midcap stocks that saw highest mutual fund selling in August
Mutual funds recorded their highest net selling in five midcap stocks during August, led by Tata Elxsi, HUDCO and Rail Vikas. Laurus Labs and UPL also saw significant selling, according to a Motilal Oswal Financial Services report.
ICICI Bank, HDFC Bank, and RIL among 8 stocks owned by 600 mutual funds in August
Eight stocks were held by more than 600 mutual fund schemes in August, making them the most widely owned stocks based on scheme holding count, according to ACE MF data. ICICI Bank topped the list with 775 funds, followed by HDFC Bank and SBI. Bharti Airtel, Reliance Industries, Axis Bank, Infosys and L&T also featured among the stocks with the highest mutual fund ownership.
Your FD and debt fund may face the same tax, heres what should decide where you invest
Debt funds and FDs may face the same slab-rate taxation, but they differ significantly in return certainty, liquidity and market risk. FundsIndia CEO Rishabh Garg explains when investors should favour the certainty of FDs and when short-duration or liquid debt funds may fit better.
New UPI charges: what changes for your QR payments, SIPs and mutual fund investments
While the new MDR introduces another cost for UPI investments, a mutual fund investor will not directly pay the fee or see it deducted from the investment amount.
Gold hallmarking fee hiked to 75 from 45: What it means for jewellery buyers ahead of festive season
BIS has raised the hallmarking fee for gold jewellery to 75 per article from 45, while keeping the silver fee unchanged at 35, effective 14 September 2026. The increase comes ahead of the festive season, but it does not automatically mean buyers will pay 30 more for every gold jewellery article.
The US Federal Reserve is widely expected to raise interest rates for the first time in three years, as persistent inflation, higher oil prices and rising bond yields add to pressure on policymakers. The move could have implications for Indian equities, the rupee, bond yields, gold and foreign investor flows, with the Feds forward guidance likely to remain crucial.
Tata Steel, HDFC Bank and RIL among JioBlackRock MFs top 10 stock holdings in August
The fund house had its highest allocations to two bank stocks, HDFC Bank and ICICI Bank, at around 5.54% and 4.97%, respectively, of equity AUM.
NPCIs new UPI MDR framework from 15 October will impose a 0.4% charge on select merchant transactions above 2,000, but consumers will continue to make UPI payments for free. NPCI has also clarified that there will be no monthly cap or platform fee for users.
UPI, net banking or bank transfer: What does funding your broker cost?
UPI may remain free for investors, but brokers could face a new cost every time customers move money into their trading accounts - even if they never make a trade
Quant Mid Cap Fund exits ICICI Bank, 2 others and adds 5 stocks in August
Quant Mid Cap Fund exited ICICI Bank, Ambuja Cements and L&T Technology Services in August, while adding six stocks including IDBI Bank, Concor and Sona BLW Precision Forgings. The fund also increased exposure to three stocks and maintained holdings in 16 stocks.
Tech utility spends: AI Pro tools and extra storage are becoming regular outflows
AI tools and cloud storage are emerging as a new category of recurring household spending, but experts say users should regularly assess their utility, avoid overlapping subscriptions and protect personal data.
A Mumbai ITAT ruling has deleted a 23.94 lakh penalty imposed on a taxpayer who had omitted 38.37 lakh of cash deposits from his original ITR but disclosed the income during scrutiny and paid the tax due.
'Inevitable, more competition': Nithin Kamath backs UPI MDR but flags cost burden for brokers
Nithin Kamath, Zerodha co-founder, backed Merchant Discount Rate (MDR) on UPI, calling it inevitable and saying it could boost competition. But he flagged the cost burden on brokers, suggesting a 0.02% MDR capped at 5-10, rather than 300.
Why global bond markets matter for your family finances
US Treasury and Japanese bond yields can ripple through equities, currencies, commodities and even domestic borrowing costs, making global rate moves relevant to Indian families planning for long-term financial goals.
Do you pay tax on credit card cashback, referral bonus or old phone sale? Explained
Credit card cashbacks, referral bonus or proceeds from selling an old phone online may all put money or benefits in your hands but the tax rules differ. Here's all you need to know.
What will happen to investors on digital broking platform? INDmoney CEO responds to UPI MDR charges
What would it cost to run an investment app that adds 200 crore to wallets for stock and derivative trading / invested into mutual funds every day? INDmoney CEO explains
MFs raise healthcare bets for 4th straight month to 71-month high. Should investors follow?
Mutual funds raised their healthcare allocation for the fourth straight month in August 2026 to 8.4%, the highest in 71 months. Experts attribute the increase to resilient demand, earnings visibility, structural growth and opportunities in hospitals, specialty pharma and healthcare outsourcing. However, they caution investors against chasing the rally and suggest focusing on valuations, earnings quality and long-term prospects.
Indian markets trade higher in early deals; FMCG, banking shares lead
Digital Desk | Mumbai, Sep 16 (IANS) Indian stock markets traded higher on Wednesday with equity benchmarks rising around 0.7 per cent each in early deals amid buying in FMCG, banking, cement and auto stocks. Nifty was at an intraday high of 23,281, an increase of 162 points or 0.70 per cent in morning trade, while Sensex rose over 500 points or 0.67 per cent to 74,505. Sector-wise, Nifty FMCG, Nifty PSU Bank, Nifty Cement and Nifty Auto were top gainers which gained up to 1.45 per cent. Meanwhile, Nifty Oil & Gas rose 0.54 per cent, while Nifty Private Bank gained 0.33 per cent. On the other hand, Nifty MidSmall IT & Telecom fell 0.68 per cent, while Nifty MidSmall Healthcare, Nifty500 Healthcare, Nifty Pharma and Nifty Chemicals declined between 0.18 per cent and 0.51 per cent. According to market experts, the market structure remained weak with elevated US bond yields and high crude oil prices weighing on sentiment. Foreign institutional investors have remained sellers over the past five sessions, and could continue to sell on rallies as the US 10-year Treasury yield remains elevated, they said. Analysts said the US Federal Reserve's expected 25-basis-point rate hike was largely priced in making its commentary on the economic outlook and future rate actions more important for markets. Despite the broader weakness, experts said stock-specific opportunities remained, with the appointment of a new MD and CEO at HDFC Bank and new NPCI norms for digital transactions among events that could influence the market. On the technical front, experts said the inability of the Nifty to sustain above 23,515 had invalidated the recent upside attempt. Consecutive closes below the lower Bollinger Band and Tuesday's bearish engulfing candle reflected strong bearishness, although they also suggested that fear may be peaking. Nifty remains within the 23,260-23,000 support band, offering hopes of a revival. A close below this zone could bring the 22,600-21,800 range into focus, they said.
Smallcap, midcap stocks give 85 multibaggers but pro investors are betting elsewhere
In 2023, while small and mid-cap stocks experienced notable increases, a trend among professional investors is emerging towards largecap companies. This shift stems from concerns over stretched valuations in the smaller sectors, which present limited investment potential. Largecap stocks are viewed as safer bets, boasting greater earnings predictability and attractive price points.
Best arbitrage mutual funds to invest in September 2026
Arbitrage funds are taxed like equity mutual funds. This means they qualify for long term capital gains tax of 12.5% if investments are held for more than a year. If investments are for less than a year, short term capital gains tax of 20% will be applicable.
Gold prices in India rose nearly 0.65% today amid US-Iran conflict uncertainties. Check retail rates of both gold and silver in top metro cities of India today.
Bajaj Finance Share Price Live Updates: Bajaj Finance Current Market Status
UPI MDR from October 15: Will your mutual fund SIP, insurance premium or OTT AutoPay get costlier?
UPI will introduce MDR on select merchant payments above 2,000 from 15 October, but the new charge does not apply uniformly to all UPI transactions. Mutual fund SIPs through UPI AutoPay remain outside the prescribed MDR, while one-time capital-market payments get a lower 0.02% rate.
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Tamil Nadu Minister Vijay Balaji inspected a spinning mill and inaugurated a new Co-optex showroom. He also reviewed the mill's operations and addressed worker grievances during his visit. Meanwhile, Chief Minister C Joseph Vijay held discussions with corporate leaders in London. Key commitments were secured to bolster the state's automotive and renewable energy sectors. These engagements followed a significant MoU signed in August 2026.
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From 15 October, NPCI's new MDR policy will apply to certain UPI transactions. Here's how the merchant charges compare with credit card and debit card fees, and credit-linked UPI.
A postgraduate medical student received 18.34 lakh as a stipend from Aligarh Muslim University, but the Income Tax Department treated it as taxable salary. The Delhi ITAT held that the stipend was linked to her education and compulsory residency training and allowed the Section 10(16) exemption.
How Mahindra Made Rugged SUVs Desirable | The Brand Equity Show
Wealth Management in India: 7 trends reshaping how wealthy Indians invest
Indias affluent investors are moving beyond traditional savings towards diversified portfolios, alternative assets, professional advice, and longer-term wealth planning. Read on to know where the money is flowing!
Worried about your security deposit? Landlords can't keep it for normal wear and tear or upgrades. Learn what legitimate deductions are, when you should get your money back, and your legal options if your landlord unfairly withholds it. Protect yourself with proper documentation before you move out.
