The Economic Times

The Economic Times 40 under Forty celebrates its twelfth edition, honoring diverse young leaders. This year's cohort reflects evolving leadership across many professional and creative fields. Financial services and venture capital lead representation, showcasing key economic sectors. Women comprise twenty-seven point five percent of honorees, marking significant progress. These forty individuals are poised to shape India's next chapter.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

A customer base of more than 12 million, rapidly diversifying product suite, and AI integration at enterprise scale perfectly positions digital lender Kissht to become a financial services company with a broad range of products and services. The companys Founder & CEO, Ranvir Singh, says financial prudence and deeper understanding of the customers was a necessity moving forward. He spoke to ET at the Global Fintech Fest. Read on!

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.

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.

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.

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.

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.

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.

Delhi government is forming a State Disaster Response Force for quick calamity response. This initiative follows a recent building collapse which claimed several lives. The National Disaster Response Force will provide essential training and equipment. Delhi's fire department and Civil Defence volunteers will also receive specialised training. The government aims to establish a capable and rapid response mechanism for disasters.

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.

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.

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.

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.

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.

The settlement relates to an investigation into banking transactions and inter-corporate security deposits involving PMC Projects (India) Private Limited, Adani Ports and Special Economic Zone Ltd (APSEZ), and the port operator's subsidiaries.

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.

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.

The landscape of digital finance is evolving as India's payments authority creates a registry specifically for AI agents. This registry aims to verify and oversee AI transactions, initially targeting UPI payments, with potential future expansions. By facilitating agentic payments, AI will be enabled to engage in frequent, minor digital transactions, resonating with global initiatives aimed at the identification and validation of AI-driven financial agents.

BharatPe unveiled BharatPe Flex, a new consumer credit offering built on UPI. This innovative product allows users to access credit limits up to sixty thousand rupees. Eligible users can utilise this credit for everyday UPI merchant payments seamlessly. Spends can be settled in full within forty-five days or via flexible monthly installments. The company also launched a new brand campaign featuring Rohit Sharma to promote this service.

India-listed US ETFs are trading at steep premiums to their indicative NAVs, with some reaching 65%. The divergence appears driven by limited supply due to overseas investment caps, strong demand for US equities and changes in ETF circuit-limit calculations. Investors buying at elevated premiums risk losses if the gap narrows.

On September 10, the BSE faced a brief disruption that impacted various cash segment partitions and specific scrips. Once the exchange addressed the technical glitch, regular operations were restored. However, traders using Zerodha reported issues with outdated prices and order placements on certain contracts. Although Zerodha confirmed the resolution, some users experienced lingering technical difficulties.

Regulators and central banks expressed concerns regarding cryptocurrencies and stablecoins. Nandan Nilekani highlighted tokenization's potential within a regulated framework. He discussed three live pilots implementing tokenization across different sectors. These pilots involve tokenizing dairy assets, warehouse receipts, and securitized assets. The underlying technology enables a unified architecture for various asset types and situations.

Blackstone has secured a dominant share in Sanha Logistics Park II, located in South Korea. This strategic acquisition reinforces Blackstone's foothold in the East Asian market, with the logistics park slated for completion by 2028. Management of the development and assets will remain under ESR. This initiative enhances Blackstone's logistics real estate portfolio throughout the region.

HDFC Bank has won all seven Bahrain cases filed by Credit Suisse AT1 bond investors, who accused the lender of mis-selling the risky securities. The Bahrain court rejected all allegations, saying investors failed to provide sufficient evidence linking HDFC Bank to their losses.

HFCL shares hit the 5% lower circuit on Thursday, extending their two-day decline to 7% despite a 240% rally so far in 2026. The stock is currently consolidating in the Rs 257218 range, with technical indicators pointing to a sideways bias, according to SBI Securities Sudeep Shah.

Promoters raised stakes in eight Nifty largecaps despite stock declines in 2026, with Jio Financial, Bharti Airtel and Reliance among the companies seeing higher holdings. The moves suggest continued promoter confidence amid a challenging phase for largecap equities.

Molbio Diagnostics shares have surged nearly 30% in two sessions, extending their post-listing gains to around 80% from the IPO price. The sharp rally comes as the newly listed company reported a strong Q1 FY27 performance, swinging to a profit of Rs 58.75 crore from a loss in the year-ago quarter.

Agentic AI's growing use in finance necessitates new checks beyond customer identification. Banks may develop a 'Know Your Agent' framework for autonomous systems. This framework will address AI identity, authentication, and transaction limits. Such systems require accuracy, accountability, and unbiased access for trust. India aims for intelligent inclusion by scaling AI financial services.

Dilip Buildcon shares rallied after the company received an LOI from PNGRB to develop an LPG pipeline from Paradip to Raipur. The project gives the company an exclusive licence to develop, finance, construct and operate the pipeline, as well as levy and collect transportation tariffs up to the designated delivery point.

Jefferies retained a Buy rating on Adani Enterprises with a Rs 3,830 target, citing its infrastructure incubation model and strong growth potential. The brokerage expects a 23% EBITDA CAGR through FY31, led by airports, data centres and ANIL.

Manipal Hospitals acquisition-led expansion is entering a key phase, with Jefferies initiating coverage with a Buy rating and Rs 870 target. The brokerage expects strong earnings growth, driven by the turnaround of Sahyadri Hospitals, new bed additions, higher utilisation and operating leverage. However, execution risks at Sahyadri and intensifying competition in Bengaluru remain key concerns for the investment case.

Jefferies retained a Hold on CDSL with a Rs 1,315 target, implying 7% downside from Rs 1,414.90. While the IPO revival could add 34% to earnings, CDSLs EPS is expected to grow 19% CAGR over two years, driven by new demat accounts, IPO income and margin expansion.