The Economic Times

Canara Bank recovered all dues totaling 510 crore from Rajesh Exports. This recovery followed an order by a debt recovery tribunal. The bank initiated this action after the company blocked other recovery attempts. Rajesh Exports faced allegations of financial misrepresentation from SEBI. The bank was the largest creditor for the gold and jewellery exporter.

HDFC Bank's board faces a difficult CEO succession task with a thin internal leadership pipeline. Regulatory tenure limits may push the bank towards a wider external executive search. Analysts suggest candidates from other banks and NBFCs could be considered. Jagdishan's exit offers an opportunity for a strategic reset and narrative change. The bank's strong franchise and financial profile should mitigate transition risks.

As of October first, banks will bear the new burden of overseeing cross-border payment transactions. They are required to confirm the validity of service contracts and foreign entities involved. Furthermore, banks will also be tasked with tracking export revenues and handling overdue export bills, creating a challenging landscape in service imports and exports aimed at curbing money laundering and suspicious trading practices.

Manufacturers will slightly increase product prices over the next fortnight. This move aims to protect crucial festive season demand and sales. Companies are absorbing some cost increases to avoid larger price hikes. Smartphone and automobile makers are implementing these adjustments now. Further price revisions are unlikely until at least November end.

Individuals over forty hold most bank deposits, while younger workers contribute less. Term deposits grew significantly, outpacing savings and current accounts. Large deposits of one crore and above formed a substantial portion. Bank credit growth accelerated, driven by corporate sector loans. Interest rates on loans below nine percent increased notably.

HDFC Bank is actively searching for a new chief executive officer. The bank expects to appoint an executive search firm soon. Several internal and external candidates are being considered for the top position. The new leader will focus on restoring investor confidence and driving growth. This succession occurs as the bank navigates a crucial leadership transition.

ITC Infotech will merge with Happiest Minds Technologies creating a significant IT services entity. This merger aims to establish an AI-first enterprise with a substantial turnover by FY28. ITC Infotech is acquiring a significant stake from Happiest Minds promoters as a precursor. The combined entity will become India's eleventh largest listed IT services player by revenue. Upon completion, the merged company is proposed to be listed on Indian stock exchanges.

A new five-member bench will decide Subhash Chandra's repayment plan. This personal insolvency case involves claims exceeding twenty-two thousand crore rupees. A previous division bench failed to reach a majority verdict on the plan. Dissenting lenders have approached the insolvency appellate tribunal regarding the matter. The bench will commence hearings on Tuesday morning.

Sebi barred nine entities, including Tarapur Transformers and its promoters, from securities markets for up to five years. The regulator found fund diversion through interest-free loans and fictitious transactions in company books. Rajendra Kumar Choudhary, a promoter, received a five-year ban and a Rs 30 lakh fine. Other entities faced three-year market bans for their involvement in these fraudulent activities.

Bank credit to industry grew by twenty percent in July, while agriculture advances expanded faster. Non-food bank credit saw nineteen point one percent growth year-on-year. Large and medium industries experienced accelerated credit growth, and micro and small industries showed steady expansion. Services sector credit grew by twenty-two point nine percent, supported by financial companies and trade.

The Delhi High Court has appointed a forensic auditor to examine transactions. This audit aims to trace the dissipation of Fortis Healthcare shares. The former promoters, Malvinder and Shivinder Singh, are involved in these dealings. A Rs 3,500 crore arbitral award favors Japanese firm Daiichi Sankyo. The court seeks to reconstruct events and identify involved parties.

Conservationists have successfully reversed dramatic wildlife declines through dedicated efforts. Bold partnerships and investments have brought species back from the brink of extinction. The bald eagle and California condor exemplify these remarkable recovery achievements. These successes demonstrate the power of investing in wildlife conservation initiatives. Such collaborative work prevents species from becoming endangered in the first place.

Quote of the day by Nikola Tesla, A new idea must not be judged by its immediate results, explains why new ideas need time before their value can be understood. The quote from Teslas 1919 autobiography My Inventions focuses on patience, persistence, long-term vision and trust in creative work. Teslas own career also shows how inventions can face rejection, financial problems and doubt before influencing technology.

Iran launched missiles at two United States air bases in Jordan overnight. This action followed a United States strike on Iran's Larak Island earlier. United States President Donald Trump vowed a strong response to the Iranian missile attacks. New United States economic sanctions are reportedly impacting Iran's struggling economy. Both nations are engaged in escalating hostilities and retaliatory actions.

Altaf Bukhari criticizes J&K Bank's perceived partisan approach towards the union territory. He suggests the bank's focus has shifted away from Kashmir's credit growth. Bukhari also expressed concerns about job opportunities for local youth. He questioned the representation of J&K people on the bank's board. Reports of shifting the bank's headquarters from Srinagar were also mentioned.

The Living Bog Project began Ireland's largest raised bog restoration in 2016. This initiative aimed to recreate over 750 hectares of active raised bog habitat. Peat dams were installed to block drains and restore water flow to the bogs. Pioneer vegetation and species returned as restoration work progressed across 12 sites.

The Companies Compliance Facilitation Scheme has seen a two-week extension, allowing companies more time to fulfill their statutory filing obligations. Stakeholders voiced their need for this additional compliance window to the Ministry of Corporate Affairs. Now, businesses can rectify any pending submissions in the MCA-21 registry, as they have until September 15 to take advantage of this second extension.

GRT Jewellers will acquire a 74.12% controlling stake in TBZ for up to Rs 1,033.71 crore, expanding its store network and national footprint. The deal combines two longstanding jewellery brands, subject to regulatory approvals and a mandatory open offer.

Indian markets fell as rising US bond yields, hawkish Fed signals, renewed US-Iran tensions and crude above $90 pressured sentiment, while broader indices declined and technical indicators pointed to continued near-term volatility.

Subhash Chandra's insolvency case: The National Company Law Tribunal has not issued a final order in the Rs 22,000 case. A two-member bench could not reach a majority verdict due to a third member's differing opinion. The matter has been sent back to the NCLT President for further direction. This personal insolvency case involves claims exceeding twenty-two thousand crore rupees. The President may appoint another member or issue an order to resolve the deadlock.

Blackstone-backed Epsilon Bidco plans to sell its 26.4% stake in packaging firm EPL Ltd through a block deal valued at approximately Rs 1,985 crore. The shares are offered at Rs 235 each, marking a discount to the current market price.

Bank gold loans grew significantly, though at a slower pace. Personal loans also saw increased growth, driven by housing and vehicle financing. New regulations adjusted loan-to-value ratios and repayment tenures for gold loans. Housing and vehicle loans experienced notable year-on-year increases in their outstanding amounts. Overall bank credit expanded robustly, with services sector leading the growth.

Deepa Jewellers Ltd successfully raised Rs 138 crore from anchor investors this past Monday. Their initial public offering opens for subscription on September 1 and includes both fresh share issuance and an offer-for-sale. The proceeds are intended for enhancing working capital and supporting various corporate objectives. The shares are set to be listed on the BSE and NSE beginning September 8.

The National Stock Exchange saw substantial turnover in its Closing Auction Session. This session accounted for twenty-two percent of total cash market turnover on Monday. More than ninety-eight thousand investors participated in this significant trading period. The session coincided with the MSCI August 2026 Index Review implementation. This marks a successful first month for the closing auction mechanism.

On Monday, shares of the Adani group experienced notable downward pressure, with Adani Enterprises declining by nearly eight percent amid overall market instability. The recent alterations in MSCI Global Standard Indexes were implemented at the end of August, affecting several Adani firms through index rebalancing and fund reallocations. This situation added to the volatility observed throughout the trading day.

In August, foreign investors channeled an impressive $3.1 billion into Indian equities, marking the largest monthly inflow in nearly two years. This surge in investment was bolstered by robust domestic earnings and proactive measures from the central bank. However, despite this positive trend, annual outflows are still trending towards a record high, with broader markets seeing an upswing even as major stocks faced declines.

The National Stock Exchange

The Reserve Bank of India reported that its foreign exchange forward position hit a new record in July, fueled by enticing measures that drew overseas deposits. This remarkable growth not only surpassed last months statistics but also eclipsed the previous peak from May, indicating a robust inflow of dollars into the nations financial system.

In a move to strengthen its market position, Muthoot Finance plans to incorporate Muthoot Money, its wholly-owned subsidiary, into its operations. This merger is designed to foster operational synergies and improve resource allocation. It is expected to streamline the management structure and optimize operational costs, thereby building a more competitive gold loan venture. The plan is subject to approvals from the Reserve Bank of India and various authorities.

Alaska Clean Harbors works with communities to prevent pollution and reduce waste. Four harbors achieved certification, and three are working towards it by November 2025. The program offers free technical assistance and resources to participating harbor staff. Best management practices are implemented to protect water quality and reduce waste. Future grants will continue this important work through 2027.

Quote of the Day by Freddie Mercury: Freddie Mercurys quote, You can have everything in the world and still be the loneliest man, explores the complex relationship between success, fame, wealth, and emotional fulfillment. The quote suggests that having material wealth, public admiration, and worldly success does not always guarantee happiness or meaningful companionship. Even when a person appears to have everything, they may still experience loneliness if they lack genuine love, emotional conne

Neelam Kothari house tour: Filmmaker Farah Khan visited Neelam Kothari and Sameer Soni's spacious Mumbai residence. The home featured an all-white exterior and warm, understated interiors. Farah Khan expressed surprise at the house's considerable size during her visit. The tour revealed an entertainment room with London vibes and a dedicated bar. The episode concluded with a gift exchange and a shared meal.

Dissenting lenders have challenged the NCLT order approving Subhash Chandra's personal insolvency plan. The Essel Group chairman's plan proposes a Rs 6.5 crore payment against creditor claims. Lenders argued that five entities linked to Chandra's family improperly influenced the voting process. The NCLT approved the plan after a third member ruled in its favor. The appellate tribunal will now hear the lenders' challenge on Tuesday.

A pit bull named Sasha alerted her family to a house fire. The quick-thinking dog then dragged a baby to safety by her diaper. Flames engulfed the apartment building, destroying most of the four-plex. Firefighters arrived and managed to save a portion of the structure. The family hopes this story changes negative perceptions of pit bulls.

The Securities and Exchange Board of India (Sebi) has imposed a Rs 25 lakh penalty on three directors of Citrus Check Inns for disobeying its orders. The firm had unlawfully gathered funds from investors despite Sebi's prohibitory instructions. The directors claimed these collections were unintentional, attributed to agents and automatic setups. However, Sebi dismissed their argument, holding the directors accountable for the agents' actions.

The Soviet Bion program studied weightlessness effects using rhesus macaques. Bion 8 launched in 1987 with two monkeys, Yerosha and Dryoma. Despite hardware issues and a landing mishap, significant scientific data was collected. Experiments revealed nervous system adaptations to microgravity conditions. Lessons learned improved subsequent Bion missions and animal space research.

Warrior Run water quality has improved after years of work across Pennsylvanias agricultural watershed. In 1998, the state listed 67 miles for siltation and flow problems. Now, 8.5 miles have been removed from the impaired list. Farmers, conservation groups and agencies helped reduce sediment and improve water conditions. The change took 26 years, but it offers a clear example of how steady conservation can restore damaged streams.

Novak Djokovic experienced his earliest Grand Slam exit in twenty years. He lost to Mariano Navone in a grueling five-set match. Djokovic struggled physically throughout the contest and appeared distressed. Navone capitalized on Djokovic's declining condition for a career-defining victory. This surprising defeat opens up the US Open draw significantly.

A group of researchers has pioneered a groundbreaking technique that transforms landfill plastic into hydrogen gas, a valuable energy source. By employing flash Joule heating, this process effectively disintegrates plastic waste, resulting in a cleaner alternative for hydrogen production. Additionally, it produces graphene, a byproduct that can finance the hydrogen generation costs entirely, thus tackling plastic pollution and energy challenges simultaneously.

A 12-year-old inventor Kim Ji On has won a $2,120 prize for creating a smartphone breathing mask inspired by a deadly hotel fire. Her emergency breathing mask is built into a smartphone grip, allowing it to be used during a fire. The young inventor plans to donate her youth invention festival prize money $2,120 to help people in developing countries.

India's domestic economic momentum remains strong in the near term, but uncertainties over global interest rates, energy supplies and food prices could weigh on growth going forward, India's Chief Economic Advisor, V Anantha Nageswaran said on Monday. He said the economy had demonstrated considerable resilience despite geopolitical disruptions and external shocks, but warned that global developments could eventually have an impact on domestic activity.

Indian businesses are actively redesigning supply chains for resilience and growth. Supplier diversification and strategic inventory are key priorities for companies. Technology adoption and entry into new markets are also significant drivers. India's trade growth will be defined by resilience and connectivity. Businesses are positioning inventory closer to customers for better market access.

Experiments conducted aboard the Space Shuttle demonstrated that pond snails bred in microgravity possessed larger gravity-sensing structures known as statoconia compared to their Earth-reared counterparts. Additionally, swordtail fish embryos showed an increase in otolith size during their development in orbit. Conversely, juvenile fish with pre-formed structures exhibited little change. This research underscores the essential influence of gravity on the development of balance structures in aqu

Prime Minister Narendra Modi met with President Vladimir Putin at the Shanghai Cooperation Organisation summit, where he expressed that war detracts from human advancement. He highlighted the importance of moving towards peace and reconciliation. Their discussions are anticipated to revolve around key areas such as defense collaborations, energy exchanges, trade, and investments, underscoring India's continuing strategic alliance with Russia in the context of broader international conversations.

An Instagram user has argued that employees who consistently deliver high-quality work can end up carrying more responsibilities because managers rely on them. He said dependable workers may also inherit tasks from colleagues who avoid responsibility and urged employees to establish boundaries. His advice has prompted discussion about balancing strong performance with a manageable workload.

The BJP will contest all 117 Punjab assembly seats alone. This decision rules out any alliance for the upcoming state elections. The party's leadership has conveyed this direct message to state units. Former chief minister Amarinder Singh and Sunil Jakhar's views differ from this mandate. The BJP plans a dedicated campaign against drugs and corruption in Punjab.