CATEGORIES

₹100 trn AUM just 3-4 yrs away: MF CEOs

The mutual fund (MF) industry's strong growth in recent years is backed by structural changes in the household investment pattern and that is why the industry is unlikely to see a major slowdown if the equity market were to enter the bear phase, according to top MF executives.

Fintechs had ample time to comply with regulations

Regulations surrounding financial technology (fintech) companies have evolved over time, giving firms ample opportunity to comply. Now, these companies must prioritize corrective actions as they scale operations, industry players said at the Business Standard BFSI Insight Summit 2024.

'Esma being extra-jurisdictional is RBI's stand'

India is well-equipped to manage any excess volatility in the exchange rate due to the outcome of the US election results, said T RABI SANKAR, deputy governor of the Reserve Bank of India (RBI), in a conversation with Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit 2024. Separately, he also spoke about how the RBI is looking to internationalise the Unified Payments Interface (UPI), and the plans for the Unified Lending Interface (ULI) and central bank digital currency (CBDC). Edited excerpts:

'Trump whale' wins $50 mn in US poll bet

French trader took 'ask the neighbour' approach to make correct predictions

Nissan to axe 9,000 jobs, cuts profit outlook by 70%

Nissan Motor will cut 9,000 jobs and 20 percent of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a slump in China and US sales.

Germany's coalition collapses, Scholz to lead minority govt

New finance minister appointed amid opposition calls for early election

Govt in wait-and-watch to study regime change in US

The government is closely monitoring the developments and trying to comprehend the impact of Donald Trump coming back to power as President of the United States (US).

₹ hits another low on rise in oil prices, equity selloff

Caution ahead of the US Fed meet outcome weighs on currency

SECI bars R-Power for 3 years over fake bank document

Solar Energy Corporation of India (SECI) has debarred Reliance Power (R-Power) from participating in any of its future tenders for three years for submitting a fake document for a tender floated by the state-run entity in June this year.

Crude benefits, climate Woes may be in store as Trump takes hot seat

COP29 may be impacted, where it is feared there will be no representation from leading nations

M&M Q2 profit jumps 35% on auto sales surge

Driven by booming auto sales and market-share gains, Mahindra and Mahindra (M&M) posted a 35 per cent year-on-year (Y-o-Y) rise in profit after tax (PAT) for the second quarter of FY25, reaching ₹3,171 crore.

Include land authorities in CoC for realty insolvency

The inclusion of land authorities such as Real Estate Regulatory Authority (RERA) in the committee of creditors (CoC) to get their inputs without granting them voting rights for real estate insolvency process is among the several suggestions proposed by the Insolvency and Bankruptcy Board of India (IBBI) on Thursday.

ED searches 'preferred' vendors of Amazon, Flipkart in Fema probe

The Enforcement Directorate (ED) on Thursday conducted searches against some of the \"main vendors\" operating on platforms of e-commerce giants Amazon and Flipkart as part of a foreign direct investment (FDI) \"violation\" investigation, official sources said.

Trent net soars 44%

Fashion and lifestyle retailer Trent saw its consolidated net profit rise 44.3 per cent in the July-September quarter in the financial year 2025 (FY25) compared to the same period last year, despite witnessing headwinds in the quarter.

Indian smartphone mkt 2nd largest by volume

India's smartphone market emerged as the second largest globally by unit volume and the third largest by value in the third quarter (Q3) of calendar year (CY) 2024, according to estimates by Counterpoint Research.

JB Pharma CEO: New launches likely to fuel domestic growth

Mumbai-based pharmaceutical company JB Pharma is targeting a 12-14 per cent revenue growth and 26-28 per cent Ebitda (earnings before interest, taxes, depreciation and amortisation) margin in the short to medium term, with new launches expected to fuel growth in the domestic market.

PHILANTHROPY IN MOTION

THE POWER OF GIVING YOUNG & GENEROUS: NIKHIL KAMATH DEBUTANTS:

At current steel prices, margins don't justify investments

A bunch of factors were at play in the second quarter of FY25 for Tata Steel – restructuring in the UK, Kalinganagar expansion, and weak market conditions. In a telephonic interview, TV NARENDRAN, managing director and chief executive officer (MD & CEO), Tata Steel, tells Ishita Ayan Dutt that in many ways, Q2 was the worst, and that Q3 also comes with challenges. Edited excerpts:

Rural demand lifts FMCG growth to 5.7% in Jul-Sep

Rural volume growth outpaces urban mkts for 3rd straight qtr: NielsenIQ report

Jet flies into sunset as SC orders liquidation

Kalrock's bid funds forfeited; lenders permitted to encash bank guarantee

SC restores DRI's key powers

Setback for Vedanta, Vi, Adani Enterprises, Canon, and 104 others

'NBFC action not punitive, but corrective'

Reserve Bank of India RBI) Governor SHAKTIKANTA DAS refused to drop his guard on inflation, citing major upside risks while remaining sanguine on growth. In an interaction with Tamal Bandyopadhyay during the Business Standard BFSI Insight Summit, he said the Indian financial sector was resilient enough to deal with any spillover from the external world ona day markets turned volatile following the US election results. Edited excerpts:

'SAP to step up hiring in India: CEO

30% of the company's deals now include artificial intelligence

Tata Steel back in black with ₹833 cr Q2 profit

Conditions in China continue to weigh on steel prices, says CEO & MD Narendran

MVA lists five poll guarantees, promises ₹3K/mth to women

The Maha Vikas Aghadi (MVA) Opposition alliance in Maharashtra unveiled \"five guarantees\" for the upcoming Assembly polls on Wednesday, which include a monthly allowance of ₹3,000 and free travel in state transport buses for women.

Indian markets celebrate the 'Red' win

Register biggest one-day gains in six weeks on Trump's victory

COSTS VARY: DO COST-BENEFIT ANALYSIS BEFORE BUYING RIDER

Tata AIG General Insurance recently introduced five new riders that can be purchased with its health insurance policies and provide more than 60 benefits to customers.

Wall Street indices hit new highs

Wall Street's main indices soared to record highs on Wednesday, as Republican Donald Trump won the 2024 US presidential election in a remarkable comeback four years after he was voted out of the White House.

Dollar set for biggest one-day jump since '20

The US dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan and Mexican peso were among the biggest losers on potential new tariffs in the regions.

Hindustan Zinc OFS garners bids worth ₹3,385 cr

Hindustan Zinc's (HZL's) share sale on Wednesday garnered bids for 67 million shares - worth ₹3,385 crore - as against 105.6 million on offer.