The Indian rupee experienced a significant upswing against the US dollar, closing at 86, a jump of 36 paise, according to market data released today. The surge reflects a positive sentiment in the forex market, driven by a combination of factors. The strengthening of the rupee indicates a favorable shift in its value, requiring fewer…
The Reserve Bank of India (RBI) is under focus as speculation grows about a potential repo rate cut following the U.S. Federal Reserve’s decision to hold its interest rates steady at 4.25%-4.50%. The Fed’s pause has sparked discussions on how central banks globally, including the RBI, might respond to evolving economic conditions. The RBI had…
Benchmark stock market indices closed higher for the third consecutive session on Wednesday, continuing its positive momentum this week. However, information technology (IT) stocks dragged the markets down. The S&P BSE Sensex gained 147.79 points to settle at 75,449.05, while the NSE Nifty50 added 73.30 points to close at 22,907.60. Aditya Gaggar, Director of Progressive…
The Union Cabinet has approved the extension of the Rs 1,500 crore incentive scheme for small-value UPI transactions. The move is aimed at supporting small merchants and encouraging digital payments by reducing costs for stakeholders in the UPI ecosystem. The scheme covers transactions up to Rs 2,000 and will be in place for one year, from April…
The country is going to be the third largest by fiscal 2028 with the GDP likely to expand to USD 5.7 trillion—from USD 3.5 trillion in 2023 and USD 4.7 trillion in 2026, says a foreign brokerage. By fiscal 2028, the country will also be the world’s most sought-after consumer market and gains share in…
IndusInd Bank’s CEO Sumant Kathpalia and Deputy CEO Arun Khurana collectively earned ₹157 crore through share sales in 2023 and 2024. Both executives utilized the Employee Stock Option Scheme (ESOPs) to sell and buy shares of the bank. Kathpalia sold nearly 9.5 lakh shares worth ₹134 crore while purchasing shares worth ₹34 crore, resulting in…
On March 6, 2025, the Indian Rupee fell by 6 paise to settle at 87.12 against the US Dollar. This decline came after a three-day rally where the Rupee had gained 18 paise over the preceding two sessions. The Rupee’s performance was influenced by several factors, including uncertainty over trade tariffs and persistent foreign fund…
Rajneet Singh Kohli, the CEO of Britannia Industries, has resigned from his position, effective March 14, 2025. Kohli joined Britannia as CEO in September 2022 and has previously held leadership roles at Domino’s India, Asian Paints, and Coca-Cola. His resignation was submitted on March 5, 2025, and the Board of Directors acknowledged it through a…
Shares of Tata Motors and Tata Investments rose up to 3 per cent on March 4, amid reports that Tata Capital, the financial services arm of the Tata Group, is eyeing a valuation of $11 billion for its upcoming public offering. While Tata Motors holds about 4 per cent stake in Tata Capital, Tata Investments…
A London court has ruled in favor of IDBI Bank, directing Axcel Sunshine Ltd, linked to former Aircel promoter Chinnakannan Sivasankaran, to pay $143.7 million (approximately ₹1,250 crore) towards principal and interest on a defaulted loan. The dispute stems from a $67 million loan taken in 2014 by Axcel Sunshine Ltd, a subsidiary of Siva…
