The Economic Times

Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructu

Sebi Chairman Tuhin Kanta Pandey announced efforts to include insurance information in the Consolidated Account Statement. The initiative aims to provide investors with a comprehensive financial overview of their investments. Additionally, RBI's support for integrating bank deposits into the framework is also underway. A comprehensive review of existing regulations is being conducted to improve transparency and ease compliance for businesses.

IIFL Finance reported a significant increase in profit after tax for the quarter, rising to Rs 805 crore. This growth was attributed to stronger operating leverage and reduced loan losses during the period. The company's assets under management also rose substantially to Rs 1.24 lakh crore, primarily due to growth in gold loans.

New York City has announced plans to abolish the horse-drawn carriage industry by June 1, 2028. Ongoing criticisms from animal rights activists regarding the welfare of these horses have escalated following the death of a tourist. Although current regulations are in place to protect the horses' well-being, this decision highlights an increasing acknowledgement of animal rights and safety concerns in urban environments.

South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.

Indian women's batter Punam Raut announced her retirement from all formats of international cricket on Thursday.

L&T Finance reported a 33% increase in consolidated net profit for the quarter ending September 30, 2026. The company's consolidated loan book rose 28% year-on-year to reach Rs 1.36 lakh crore. Net interest margin improved to 10.48%, while total income increased by 26% to Rs 5,484 crore. Asset quality also showed improvement, with gross non-performing loans declining to 2.7%.

Sebi has announced changes to the closing auction session for the equity cash market, which will begin in December 2026. The revised session will run from 3.30 pm to 3.40 pm, with specific phases for order entry. Moreover, the methodology for calculating settlement prices for derivatives contracts has been updated. Unexecuted orders will transition under new rules while maintaining time priority differences.

Indian equities rallied as global technology stocks weakened amid AI valuation concerns and US inflation worries. Analysts recommend Bajaj Holdings and Adani Power for Friday, citing improving technical momentum, key support levels and potential upside, subject to market conditions.

Jio Financial Services reported a 51% year-on-year decline in Q2 FY27 profit to Rs 340 crore, despite total income rising 132% and net interest income surging 165%. Its NBFC business delivered 140% profit growth amid expanding financial services operations.

Akash Ambani said Jio can raise mobile tariffs but prefers growing revenue through digital services, broadband and enterprise solutions. Ahead of its Rs 30,213 crore IPO, Jio aims to expand margins and connect 100 million homes.

Indian Bank, UCO Bank, South Indian Bank and Karur Vysya Bank reported double-digit Q2 profit growth, supported by core income and loan expansion. However, rising bond yields hurt treasury earnings, while improving asset quality and provisions shaped quarterly performance.

Paras Healthcare has set its IPO price band at Rs 660-693 per share, targeting Rs 1,450 crore. Opening October 21, the issue will fund debt repayment and corporate needs, supporting expansion across its hospital network in India.

India's balance of payments showed a surplus of $45.4 billion in August, despite a current account deficit. Net transfers, which include remittances, increased to $12.8 billion compared to the previous year. The capital account saw inflows of $50.6 billion, significantly higher than last year's $0.5 billion. Central bank measures to attract capital inflows have resulted in substantial foreign-exchange deposits.

The United States can access up to $100 billion in loans for developing its critical minerals industry. Despite this financial resource, it struggles to compete with Chinas established dominance in rare earth processing and supply chains. Creating processing facilities and refining capacity requires long-term investments and strategic planning, which many private investors find unattractive.

India's edible oil imports fell by 7 percent in September, totaling 15.44 lakh tonnes. The decline was attributed to a sharp decrease in crude sunflower oil shipments, which dropped significantly. However, total edible oil imports increased by 3 percent for the first eleven months of the oil year. Refined oil imports saw a notable decline, while crude edible oil imports rose substantially during the same period.

Kotak AMCs Nilesh Shah cited Hindustan Zinc as an example of how strategic divestment combined with a retained minority stake can create long-term national wealth. He said the governments remaining stake is now worth over Rs 62,000 crore and expressed hope that IDBI Banks divestment would deliver similar value.

Christine Lagarde is likely to be appointed as the chair of the World Economic Forum next month. This change would require her to step down from her position as European Central Bank chief. Following Lagarde's exit, there will be a reshuffle within the ECB due to upcoming political changes in France. The WEF board is scheduled to meet on November 2 to discuss her potential role.

FASTag-based parking payments at Indira Gandhi International Airport were temporarily halted after misuse was identified. Authorities found that the parking operator misused the smart tag for vehicle entry control instead of fee collection. Concerns were raised by former NITI Aayog Vice-Chairperson Rajiv Kumar, highlighting passenger inconvenience. The Indian Highway Management Company Limited mandated that such restrictive practices must be discontinued immediately.

U.S. unemployment benefits applications slightly increased, with initial claims rising to 199,000 for the past week. Despite the increase, layoffs remain historically low, indicating job security for many workers. Hiring nonetheless showed sluggish trends, as evidenced by a disappointing 29,000 jobs added in September. While the unemployment rate ticked up to 4.2%, general confidence in the economy persists among employers.

The Election Commission of India recently announced a Special Summary Revision of electoral rolls in 17 states. This revision will implement Section 21 of the Representation of the People Act, with January 1, 2027, as the qualifying date. The move comes amid legal challenges and widespread protests from opposition leaders regarding the ongoing Special Intensive Revision process.

Punjab recorded 174 stubble-burning incidents between September 15 and October 13, 2026, up from 134 during the same period last year. Satellite monitoring detected 51 farm fire events on October 13 alone, with Amritsar and Tarn Taran accounting for most of the days cases. The rise comes as paddy harvesting accelerates, raising concerns over seasonal air pollution and Delhis winter air quality.

Jimmy Carter, the longtime Nashville entertainment reporter who interviewed stars such as Dolly Parton and Clint Eastwood, died on October 13 at the age of 73. Reports estimate his net worth at between $500,000 and $1.5 million, although his exact wealth has not been publicly confirmed. Here is a look at his earnings, career and legacy in entertainment journalism.

Sachin Pilot asserted confidence in the Congress forming the next Punjab government, emphasizing the party's united front led by Pargat Singh. He highlighted the lack of a chief ministerial face while affirming that the party would decide leadership after elections, noting strong competition from AAP and the weakened position of SAD and BJP.

Shreyas Iyer, currently the captain of Indian national T20 cricket team. His Mumbai home is located on the 48th floor in Lower Parel area. Reportedly the house costs approximately 12 crores. His luxurious home features a dedicated gym, gaming room and a seperate sneaker room.

Tech Mahindra announced a 1:1 bonus share issue and Rs 15 interim dividend as it celebrated its 40th anniversary. The company expects bonus shares to be credited by December 15, 2026, subject to approvals, with October 23 as dividend record date.

Iran's army reported a fire on an oil tanker in the eastern Strait of Hormuz. The vessel was allegedly disabled its tracking systems before entering a restricted area. The situation arose in the Gulf of Oman, where such incidents can escalate tensions. Authorities have characterized the tanker as a rogue vessel.

Jackie, a well-known bald eagle from Big Bear Lake, passed away due to bird flu. A necropsy revealed that bird flu caused severe complications and other overlapping health issues. While rodenticides were found, they were not the primary cause of her decline. Jackies remains were cremated to prevent the spread of avian influenza. Meanwhile, her longtime partner Shadow remains healthy and was recently seen with a new female.

The UK government has declared a severe drought in southern England, impacting many counties. Extreme weather and a record-breaking summer have caused water shortages across the region. Reservoir levels have dropped significantly, which is concerning for local communities. Farmers and fire services are facing increased challenges due to the dry conditions. Monitoring and consumption restrictions are being implemented as the drought persists into autumn.

Recent surveys reveal a troubling trend: Gen Z's mental health is deteriorating, with many grappling with depression. A mere 44% of young adults perceive themselves as thriving, a stark drop since 2010. Factors like economic strain and social media pressures intensify feelings of dissatisfaction. Moreover, this demographic struggles more than their older counterparts in achieving financial independence and personal aspirations, who are experiencing a boost in life satisfaction.

Wholesale inflation rose unexpectedly in September due to significant increases in fuel costs and other goods. The Labor Department reported a 6.3% rise in the producer price index compared to last year. Month-to-month wholesale prices increased by 1.3%, marking the largest monthly jump since March 2022. Core prices also saw a notable rise, up to 5% from the previous year.

The government signed contracts worth Rs 4,106 crore for the Indian Air Force and the Indian Navy. One contract is for a GSAT-7C satellite to improve communication capabilities. The other is for Varunastra torpedoes designed to enhance anti-submarine warfare capabilities. Both contracts aim to promote self-reliance in defense manufacturing in India. This move aligns with the governments Aatmanirbhar Bharat and Make-in-India initiatives.

Four BSE 500 stocks, including Sun TV Network, Allied Blenders and Distillers, Leela Palaces Hotels & Resorts and Shyam Metalics, hit fresh 52-week highs, gaining up to 32% over the past month amid a broader market rally.

IRDAI is working on a Public Insurance Registry to enhance insurance data sharing among stakeholders. The beta version is scheduled for January 2028, as announced by Chairman Ajay Seth. This digital platform aims to standardise and facilitate the exchange of insurance information. Feedback from industry participants is requested to improve the proposed system, with an extended deadline of October 17, 2026.

A building collapsed following an explosion at a house in the Sarnath area of Varanasi, Uttar Pradesh. Police officials reached the spot, and further details about the incident are awaited.

Jio Platforms plans to use IPO proceeds of up to Rs 27,500 crore to repay borrowings and move towards net debt-free status. Akash Ambani also highlighted opportunities in India's projected $1.4 trillion digital economy by FY31.

A failed college assignment by Isha Ambani helped spark the idea for Jio, which is now preparing for a Rs 30,213 crore IPO at a valuation of around Rs 10.3 lakh crore. Akash Ambani said the proceeds would go towards debt reduction, as Reliance seeks to unlock value from its digital business.

YES Bank is currently reviewing the Supreme Court decision that overturned its AT1 bond write-off. This ruling follows the Bombay High Court's earlier decision issued in January. The bank has stated that it will make necessary disclosures in light of the judgment. YES Bank shares experienced a significant drop of 14.43% following this news. The bank maintains it has complied with all regulatory disclosure requirements during the legal proceedings.

Only about 15 per cent of India's population and businesses are estimated to have effective insurance coverage, a figure that could double to 30 per cent over the next five years, Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth said on Thursday, highlighting the large protection gap in the country.

Tech Mahindra Q2 Results: Along with the earnings, Tech Mahindra's board declared an interim dividend of Rs 15 per equity share of face value Rs 5 each, equivalent to 300%, for the financial year 2026-27. It also approved a 1:1 bonus issue, under which shareholders will receive one bonus equity share for every existing equity share held, subject to the applicable terms and conditions.

Samajwadi Party president Akhilesh Yadav aims to broaden the anti-BJP coalition in Uttar Pradesh ahead of the 2027 assembly elections. He says the unison of Muslim-Yadav, backward classes and a growing number of disgruntled Gen Z voters would remove BJP from power. Yadav questions why people in plain clothes who attacked the protestors were not arrested. The SP leader also accuses the Centre of failing to protect Indian citizens during the conflict between the United States and Iran.

Akash Ambani said Reliance Jios partnership with Google on Gemini goes beyond distribution to create new markets, drawing a parallel with Jios approach to data. Speaking at Jios IPO press conference on Thursday, he said the collaboration had resulted in Gemini adding 13 million new subscribers to its paid service.

Government agencies in Haryana have successfully purchased 15.52 lakh tonnes of paddy during the Kharif procurement operations. A total of Rs 1,221 crore has been disbursed to farmers to support their financial needs. The Chief Secretary reviewed the ongoing procurement efforts and emphasized the importance of coordination among various stakeholders. Initiatives like Aadhaar-based biometric verification have been implemented for better oversight.

Current school assemblies are incorporating news segments to educate students on vital global and local happenings. Recently, a tragic school roof collapse in Pakistan resulted in multiple fatalities. Additionally, the IMF's recent pledge to aid Sri Lankas economic recovery stands out in business news. In sports, Kylian Mbappe has made headlines by becoming the youngest player to reach 100 appearances in the Champions League.

Akash Ambani is positioning Jio Platforms to capture a significant share of Indias projected $1.4 trillion digital economy by FY31. Ahead of its Rs 30,213 crore IPO, he highlighted 7,200 patents, 5G leadership and technology partnerships.

India's overall unemployment rate held steady at 5.0% in September 2026, compared to the previous month. The rural unemployment rate improved to 4.2%, while urban unemployment increased slightly to 6.9%. The gender-specific unemployment rates showed stability, although urban female unemployment rose to 9.2%. The Labour Force Participation Rate for September 2026 was reported at 55.5%, reflecting a year-on-year increase. Overall, the Worker Population Ratio also saw an increase, reaching 52.7%.