Last Updated:September 17, 2025, 10:38 IST

Recent data shows across 60 Tier 2 & 3 cities, housing sales rose 20% y-o-y, with value of sales jumping. These cities now account for half of all land acquisitions by developers

Even in Tier 2 cities, rapid price rises mean affordability is shifting upward. Entry-level homes may still be affordable now, but continuous gains will push them out of reach for many.

India’s real estate landscape is undergoing a tectonic shift. Metro cities, which were once the go-to option for housing investment, are increasingly being outshone by Tier 2 and Tier 3 cities. Places like Lucknow, Indore, Jaipur, Bhubaneswar, Coimbatore, Patna, and Kanpur are seeing dramatic growth in property values.

The primary drivers are affordability, better infrastructure, increasing connectivity, and rising demand from homebuyers and investors searching for better living standards without metro-level costs.

Recent data shows that across 60 Tier 2 & 3 cities, housing sales rose 20% year-on-year, with value of sales jumping dramatically. These cities now account for nearly half of all land acquisitions by developers—an indicator that market sentiment and capital are actively shifting beyond traditional metros. (Land acquisitions by developers in non-metro cities now make up about 44% of the total in many reports.)

In another report, average capital appreciation in Tier-II cities is pegged at 17.6% year-on-year, significantly higher than many metro markets. Cities like Lucknow (23–24%), Indore (22–23%), Jaipur (21%), and Bhubaneswar (19.5%) are often cited as outperforming metro peers in terms of property price gains. Meanwhile, metros like Delhi, Mumbai and Chennai are registering lower rates of appreciation in many comparisons.

Why Is This Surge Happening?

Multiple interlocked reasons explain why property is booming in Tier 2 and 3 cities:

Infrastructure & Connectivity

New roads, highways, better rail networks, and improved air connectivity are shrinking the travel and time gap between smaller cities and metros. Government schemes for urban planning and connectivity—such as expressways, Smart Cities, metro corridors—are enhancing liveability and driving demand. When a city gains a modern airport or better civic infrastructure, it becomes more attractive for both end-users and investors.

Cost And Affordability

It is expensive to live in metros—not only in terms of property cost, but also the cost of commuting, maintenance, and daily expenses. In contrast, Tier 2 cities offer a much lower entry price per square foot. For the same money, buyers can get larger flats or nicer amenities in smaller cities. Even more, many people who once rented in metros are now able to buy in Tier 2 due to lower overall costs.

Remote Work And Lifestyle Shifts

The work-from-home trend and hybrid models have reduced the necessity of being physically present in metros. Buyers now value space, quality of life (less pollution, less crowding), and access to nature. This is prompting migration of demand away from large metro hubs to smaller cities with better environment and lower stress.

Developer Strategy & Investment Flow

With land in metros becoming scarce and expensive, developers are planting new projects in Tier 2 and 3 cities. Institutional and private investors are following. Data shows large rises in land acquisition and in new project launches in these cities. Also, housing projects in these regions have seen rapid growth in value even when volumes have increased more modestly—suggesting strong price appreciation.

Changing Buyer Aspirations

As incomes rise in non-metro cities, aspirations change. Middle-class buyers want modern amenities: gated societies, malls, good schools, and hospitals. They want a standard of living similar to metros but priced within reach. That shifts demand upward in these smaller cities. Investors, too, are more willing to bet on long-term gains in such cities.

How Tier 2 Cities Compare To Metros With Data

Here are some key comparisons to illustrate the scale of the shift:

Capital Appreciation: Tier-II cities average 17.6% year-on-year property appreciation, versus 11% in many metro markets.

Cities Outperforming: Lucknow (approximately 23.7%), Kanpur (19–20%), Jaipur (21.3%), Indore (22.8%), and Bhubaneswar (near 19.5%) are leading Tier 2 gains. In metros, gains are more modest in many cases.

Prices Per Square Foot: In Tier II cities, rates vary but are substantially lower than metros. For example, Kanpur properties may be around Rs 7,000 per sq ft in top micro-areas, while similarly sized homes in more central metro locations cost much more.

Sales Volume & Value Growth: In Top 15 Tier 2 cities, housing sales value increased to Rs 1.52 lakh crore in 2024 from around Rs 1.27 lakh crore in 2023, though the number of units sold rose modestly. Cities like Coimbatore saw value growth of 36%. Bhubaneswar recorded 47% jump in sales value year-on-year.

These facts show that while metros are still vital and dominant for premium segments, much of the growth momentum and new capital is coming from beyond.

A Closer Look At Bhubaneswar’s Housing Surge

Bhubaneswar offers a striking case study. Once known primarily as a city of temples and a hub for public administration, it is now being rebranded as a smart city. The Smart City Mission has pumped in funds for urban renewal, while IT-SEZs and educational institutions such as IIT Bhubaneswar have added to the city’s profile.

Property prices here average between Rs 4,500 and Rs 6,000 per sq ft in premium localities like Patia, Jaydev Vihar, and Khandagiri. Just five years ago, similar properties could be bought for 30–40% less. High demand from professionals, investors, and even NRIs from Odisha is sustaining the momentum.

Though Pune is often described as a Tier 1.5 city, it epitomises the growth trajectory of smaller markets. Once primarily an educational hub, Pune now houses IT parks, automobile plants, and start-ups. Its proximity to Mumbai and relatively lower costs gave it an edge.

Today, property rates in Pune’s prime locations like Kalyani Nagar, Baner, and Viman Nagar range between Rs 7,500 and Rs 10,500 per sq ft, comparable to some pockets of Mumbai suburbs. Demand is robust not only from locals but also from a steady influx of IT professionals.

Lucknow: Prices in Gomti Nagar and Shaheed Path have risen by over 20% in three years, driven by infrastructure upgrades and government jobs.

Indore: Known for its cleanliness and industrial base, Indore has seen property rates rise steadily, averaging Rs 4,500–Rs 5,500 per sq ft in prime areas.

Coimbatore: With its textile base and growing IT presence, Coimbatore has emerged as a strong residential market with property prices crossing Rs 6,000 per sq ft in hotspots.

Jaipur: Tourism, education, and proximity to Delhi have made Jaipur a magnet for real estate. Prime properties range from Rs 4,000 to Rs 6,000 per sq ft.

What This Means For The Future Of Housing?

This shift has implications for both buyers and the policy environment:

More Balanced Urban Growth

India’s growing population puts pressure on metros—traffic, pollution, and infrastructural strain. Growth in Tier 2 cities helps spread urbanisation more evenly. Over time, this might ease some of the affordability and liveability issues in big cities.

Rising Investor Interest and Speculation

As returns in Tier 2 cities outpace metros, investors are flocking in. That is good for development, but also could fuel speculative bubbles if supply (infrastructure, jobs) does not follow demand. Projects could overpromise, locations may become congested, and developers may face delays—leading to risk for buyers.

Housing Affordability Will Remain a Central Question

Even in Tier 2 cities, rapid price rises mean affordability is shifting upward. Entry-level homes may still be affordable now, but continuous gains will push them out of reach for many. So, housing policy, subsidies, and regulatory checks will need to work to ensure housing remains accessible, not just profitable.

Infrastructure Needs To Keep Pace

Connectivity, reliable utilities (water, power), good roads, schools, and health services will determine which Tier 2 cities succeed long-term. Without these, price gains may stagnate or reverse. Cities that fail to deliver infrastructure may see speculative bubbles burst.

Commercial Real Estate Growth Also Follows

It is not just residential demand. Office leasing in Tier 2 cities is growing too. As companies distribute their operations, setting up satellite offices and remote/hybrid workspaces, demand for Grade A office space is increasing in smaller cities. This further supports residential demand.

Role Of Government Policies

Policies like land use regulation, RERA enforcement, approval timelines, taxation, and infrastructural funding (roads, public transit, airports) will heavily influence how sustainable this growth is. Cities with strong governance will likely outperform poorly regulated ones.

What Prospective Homeowners And Investors Should Consider?

If you are considering buying property or investing in Tier 2 cities, here are key parameters:

Check location & connectivity: How far from transport hubs, highways, or upcoming infrastructure?

Track infrastructure projects: A new highway, airport expansion, or connectivity corridor can boost values.

Developer reputation & legal clearances: Crucial in newer cities. Delays or approvals can make or break returns.

Price trends over time: Look not just at last 6 months, but 2-3 years to understand the trajectory.

Lifestyle amenities: Schools, hospitals, malls, and green spaces are increasingly important to buyers and impact resale value.

Risk of oversupply/speculation: Ensure demand is real, not just investors. Some cities may flood with new units without demand to match.

What This Means for India’s Housing Landscape

The future of India’s real estate market is moving from being metro-centric to more decentralised. Tier 2 and 3 cities are no longer fringe or fallback; they are at the heart of India’s real estate growth story.

Metro cities will still have premium, luxury segments and remain valuable for many buyers and urban professionals. But for mass housing, mid-segment properties, and long-term investors, Tier 2 cities offer higher growth potential and better affordability today.

As more government investment goes into infrastructure and connectivity, remote work remains in some form, and incomes rise in non-metro areas, the trend is likely to sustain. The challenge for policymakers will be to ensure that infrastructure, governance, and housing regulation keep up so growth is sustainable and inclusive.

Shilpy Bisht

Shilpy Bisht, Deputy News Editor at News18, writes and edits national, world and business stories. She started off as a print journalist, and then transitioned to online, in her 12 years of experience. Her prev…Read More

Shilpy Bisht, Deputy News Editor at News18, writes and edits national, world and business stories. She started off as a print journalist, and then transitioned to online, in her 12 years of experience. Her prev… Read More

First Published:

September 17, 2025, 10:21 IST

News explainers Why Tier 2 Cities Like Bhubaneswar & Lucknow Are Driving India’s Property Boom And Housing Future

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Recent data shows that across 60 Tier 2 & 3 cities, housing sales rose 20% year-on-year, with value of sales jumping dramatically. These cities now account for nearly half of all land acquisitions by developers—an indicator that market sentiment and capital are actively shifting beyond traditional metros. (Land acquisitions by developers in non-metro cities now make up about 44% of the total in many reports.)

In another report, average capital appreciation in Tier-II cities is pegged at 17.6% year-on-year, significantly higher than many metro markets. Cities like Lucknow (23–24%), Indore (22–23%), Jaipur (21%), and Bhubaneswar (19.5%) are often cited as outperforming metro peers in terms of property price gains. Meanwhile, metros like Delhi, Mumbai and Chennai are registering lower rates of appreciation in many comparisons.

Why Is This Surge Happening?

Multiple interlocked reasons explain why property is booming in Tier 2 and 3 cities:

Infrastructure & Connectivity

New roads, highways, better rail networks, and improved air connectivity are shrinking the travel and time gap between smaller cities and metros. Government schemes for urban planning and connectivity—such as expressways, Smart Cities, metro corridors—are enhancing liveability and driving demand. When a city gains a modern airport or better civic infrastructure, it becomes more attractive for both end-users and investors.

Cost And Affordability

It is expensive to live in metros—not only in terms of property cost, but also the cost of commuting, maintenance, and daily expenses. In contrast, Tier 2 cities offer a much lower entry price per square foot. For the same money, buyers can get larger flats or nicer amenities in smaller cities. Even more, many people who once rented in metros are now able to buy in Tier 2 due to lower overall costs.

Remote Work And Lifestyle Shifts

The work-from-home trend and hybrid models have reduced the necessity of being physically present in metros. Buyers now value space, quality of life (less pollution, less crowding), and access to nature. This is prompting migration of demand away from large metro hubs to smaller cities with better environment and lower stress.

Developer Strategy & Investment Flow

With land in metros becoming scarce and expensive, developers are planting new projects in Tier 2 and 3 cities. Institutional and private investors are following. Data shows large rises in land acquisition and in new project launches in these cities. Also, housing projects in these regions have seen rapid growth in value even when volumes have increased more modestly—suggesting strong price appreciation.

Changing Buyer Aspirations

As incomes rise in non-metro cities, aspirations change. Middle-class buyers want modern amenities: gated societies, malls, good schools, and hospitals. They want a standard of living similar to metros but priced within reach. That shifts demand upward in these smaller cities. Investors, too, are more willing to bet on long-term gains in such cities.

How Tier 2 Cities Compare To Metros With Data

Here are some key comparisons to illustrate the scale of the shift:

Capital Appreciation: Tier-II cities average 17.6% year-on-year property appreciation, versus 11% in many metro markets.

Cities Outperforming: Lucknow (approximately 23.7%), Kanpur (19–20%), Jaipur (21.3%), Indore (22.8%), and Bhubaneswar (near 19.5%) are leading Tier 2 gains. In metros, gains are more modest in many cases.

Prices Per Square Foot: In Tier II cities, rates vary but are substantially lower than metros. For example, Kanpur properties may be around Rs 7,000 per sq ft in top micro-areas, while similarly sized homes in more central metro locations cost much more.

Sales Volume & Value Growth: In Top 15 Tier 2 cities, housing sales value increased to Rs 1.52 lakh crore in 2024 from around Rs 1.27 lakh crore in 2023, though the number of units sold rose modestly. Cities like Coimbatore saw value growth of 36%. Bhubaneswar recorded 47% jump in sales value year-on-year.

These facts show that while metros are still vital and dominant for premium segments, much of the growth momentum and new capital is coming from beyond.

A Closer Look At Bhubaneswar’s Housing Surge

Bhubaneswar offers a striking case study. Once known primarily as a city of temples and a hub for public administration, it is now being rebranded as a smart city. The Smart City Mission has pumped in funds for urban renewal, while IT-SEZs and educational institutions such as IIT Bhubaneswar have added to the city’s profile.

Property prices here average between Rs 4,500 and Rs 6,000 per sq ft in premium localities like Patia, Jaydev Vihar, and Khandagiri. Just five years ago, similar properties could be bought for 30–40% less. High demand from professionals, investors, and even NRIs from Odisha is sustaining the momentum.

Though Pune is often described as a Tier 1.5 city, it epitomises the growth trajectory of smaller markets. Once primarily an educational hub, Pune now houses IT parks, automobile plants, and start-ups. Its proximity to Mumbai and relatively lower costs gave it an edge.

Today, property rates in Pune’s prime locations like Kalyani Nagar, Baner, and Viman Nagar range between Rs 7,500 and Rs 10,500 per sq ft, comparable to some pockets of Mumbai suburbs. Demand is robust not only from locals but also from a steady influx of IT professionals.

Lucknow: Prices in Gomti Nagar and Shaheed Path have risen by over 20% in three years, driven by infrastructure upgrades and government jobs.

Indore: Known for its cleanliness and industrial base, Indore has seen property rates rise steadily, averaging Rs 4,500–Rs 5,500 per sq ft in prime areas.

Coimbatore: With its textile base and growing IT presence, Coimbatore has emerged as a strong residential market with property prices crossing Rs 6,000 per sq ft in hotspots.

Jaipur: Tourism, education, and proximity to Delhi have made Jaipur a magnet for real estate. Prime properties range from Rs 4,000 to Rs 6,000 per sq ft.

What This Means For The Future Of Housing?

This shift has implications for both buyers and the policy environment:

More Balanced Urban Growth

India’s growing population puts pressure on metros—traffic, pollution, and infrastructural strain. Growth in Tier 2 cities helps spread urbanisation more evenly. Over time, this might ease some of the affordability and liveability issues in big cities.

Rising Investor Interest and Speculation

As returns in Tier 2 cities outpace metros, investors are flocking in. That is good for development, but also could fuel speculative bubbles if supply (infrastructure, jobs) does not follow demand. Projects could overpromise, locations may become congested, and developers may face delays—leading to risk for buyers.

Housing Affordability Will Remain a Central Question

Even in Tier 2 cities, rapid price rises mean affordability is shifting upward. Entry-level homes may still be affordable now, but continuous gains will push them out of reach for many. So, housing policy, subsidies, and regulatory checks will need to work to ensure housing remains accessible, not just profitable.

Infrastructure Needs To Keep Pace

Connectivity, reliable utilities (water, power), good roads, schools, and health services will determine which Tier 2 cities succeed long-term. Without these, price gains may stagnate or reverse. Cities that fail to deliver infrastructure may see speculative bubbles burst.

Commercial Real Estate Growth Also Follows

It is not just residential demand. Office leasing in Tier 2 cities is growing too. As companies distribute their operations, setting up satellite offices and remote/hybrid workspaces, demand for Grade A office space is increasing in smaller cities. This further supports residential demand.

Role Of Government Policies

Policies like land use regulation, RERA enforcement, approval timelines, taxation, and infrastructural funding (roads, public transit, airports) will heavily influence how sustainable this growth is. Cities with strong governance will likely outperform poorly regulated ones.

What Prospective Homeowners And Investors Should Consider?

If you are considering buying property or investing in Tier 2 cities, here are key parameters:

Check location & connectivity: How far from transport hubs, highways, or upcoming infrastructure?

Track infrastructure projects: A new highway, airport expansion, or connectivity corridor can boost values.

Developer reputation & legal clearances: Crucial in newer cities. Delays or approvals can make or break returns.

Price trends over time: Look not just at last 6 months, but 2-3 years to understand the trajectory.

Lifestyle amenities: Schools, hospitals, malls, and green spaces are increasingly important to buyers and impact resale value.

Risk of oversupply/speculation: Ensure demand is real, not just investors. Some cities may flood with new units without demand to match.

What This Means for India’s Housing Landscape

The future of India’s real estate market is moving from being metro-centric to more decentralised. Tier 2 and 3 cities are no longer fringe or fallback; they are at the heart of India’s real estate growth story.

Metro cities will still have premium, luxury segments and remain valuable for many buyers and urban professionals. But for mass housing, mid-segment properties, and long-term investors, Tier 2 cities offer higher growth potential and better affordability today.

As more government investment goes into infrastructure and connectivity, remote work remains in some form, and incomes rise in non-metro areas, the trend is likely to sustain. The challenge for policymakers will be to ensure that infrastructure, governance, and housing regulation keep up so growth is sustainable and inclusive.

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Last Updated:September 16, 2025, 18:33 IST

CBDT extended ITR filing deadline for AY 2025-26 to September 16 due to portal glitches. Over 7 crore ITRs filed. Condonation requests can help avoid penalties for genuine delays.

News18

ITR Filing 2025 Last Date: The income tax department has granted a one-day relaxation by September 16 to non-audit taxpayers to file their income tax return (ITR) for the financial year 2024-25 (Assessment year 2025-26). The relaxation came after the portal suffered glitches and technical problems and several CAs demanded that the due date be extended for filing the return.

“The due date for filing of income tax returns (ITRs) for AY 2025-26, originally due on July 31, 2025, was extended to September 15, 2025. The CBDT has decided to further extend the due date for filing these ITRs for AY 2025-26 from September 15, 2025, to September 16, 2025,” the Central Board of Direct Taxes (CBDT) said in a late-night circular.

The tax department also updated that over 7 crore ITRs were filed by September 15.

Despite this extension, there may be a possibility that some taxpayers aren’t able to file their returns, given the website glitches and technical problems.

By chance, if taxpayers won’t be able to file their returns once the due date is over, they are required to file the belated return, which comes with a clause of penalty. However, the condonation of delay feature allows taxpayers to avoid the penalty.

In cases of genuine hardship, taxpayers can file a Condonation Request under Section 119(2)(b) of the Income Tax Act. If the competent Income Tax Authority accepts the request, the taxpayer is not required to pay any additional tax, interest, or penalty. This provision acts as a special relief, allowing taxpayers to regularize their delayed Income Tax Return (ITR) filing without facing financial consequences.

Avnish Arora, Executive Director, Direct, Tax, Forvis Mazars India. explains that screenshots that show what issues were associated with the portal can be part of the supporting documentation when requesting condonation of delay in filing the Income Tax Return. “These screenshots help show that the taxpayer was making a genuine effort to file the return on time, but was experiencing technical problems that were beyond their control,” he adds.

He further states that proper documentation of the timeline further supports the case for condonation, thereby increasing the chances of obtaining relief. “The representation for condonation should specifically outline the issue experienced, what attempts were made to correct the issue, and all supporting documentation should be submitted in conjunction with your representation,” he says.

Arora, however, cautions that acceptance of a condonation request is not assured, as it rests entirely with the discretion of the Income Tax Department.

“The Department may allow such requests only if the reasons for delay are found to be genuine and satisfactory. Nevertheless, in certain instances, some Courts have taken a favourable view and condoned the delay, even where the Department had earlier rejected the assessee’s request looking into the facts, circumstances and reasons for delay,” he adds.

CA Sonu Jain, Chief Risk and Compliance Officer, 9Point Capital, also urges taxpayers to document the attempt with screenshots for a stronger case for condonation later if they can’t file today due to technical issues.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

Last Updated:September 16, 2025, 10:24 IST

Dev Accelerator IPO allotment was finalized on September 15, 2025. Shares list soon on BSE and NSE.

News18

Dev Accelerator IPO Details

Dev Accelerator Limited, one of the largest flexible workspace operators in Tier-2 markets, launched its initial public offering (IPO) between September 10, 2025 and September 12, 2025. Investors bid for 49,61,11,320 equity shares against the 1,31,47,075 equity shares on offer, translating to a total subscription of 37.74 times.

The company has fixed the price band at Rs 56–61 per share with a face value of Rs 2. The IPO, entirely a fresh issue of shares worth Rs 143.35 crore, does not include any offer-for-sale (OFS) component.

Investors can bid for a minimum lot size of 235 shares.

Dev Accelerator Issue Objectives

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

ITR Filing Deadline 2025 Extension Live Updates: Today is the ITR filing last date for the assessment year 2025-26. Tax professionals and bodies are urging the income tax department to extend the deadline. However, the income tax department has clarified that the current September 15 deadline remains intact and warned taxpayers against a fake message that is spreading widely on social media and messaging app about the deadline extension.

So far, a total of 6.7 crore ITRs have been filed, as of 12:00 pm today, according to the income tax portal. Out of this, 6.03 crore ITRs have been verified by the taxpayers, and over 4 crore returns have been processed by the income tax department.

Last year, by July 31, 2024, 7.6 crore ITRs had been submitted.

Who Must File ITR Today?

The September 15 deadline is for non-audit taxpayers, including most salaried individuals, pensioners, NRIs, and those whose accounts do not require audit. For audit ITRs, the deadline remains October 31.

Usually, the ITR filing deadline every year is July 31. However, this year, the last date for filing non-audit returns was pushed to September 15 from the usual July 31 deadline, owing to delays in the release of updated ITR forms. The extension came after several tweaks were required following the interim Budget’s changes to the capital gains tax framework.

What Happens If You Miss Today’s Deadline?

Taxpayers filing after September 15 face a penalty of Rs 5,000 under Section 234F, though the fine is capped at Rs 1,000 for those with income below Rs 5 lakh. Late filers also lose the ability to carry forward certain losses, risk refund delays and may attract closer scrutiny from the tax department.

With the clock ticking, the department is urging taxpayers to file early to avoid last-minute issues. Whether the deadline is extended once again remains to be seen.

Last Updated:September 15, 2025, 10:26 IST

ITR Last Date 2025: Key FAQs answered for last-minute taxpayers

ITR Filing Deadline Today

ITR Filing Due Date 2025 Today: The Income Tax Return (ITR) filing deadline for Assessment Year (AY) 2025–26 ends today, September 15, with close to 1 crore filings expected on the final day. Last year, the e-filing portal processed a record 70 lakh returns within 24 hours — its highest ever. This year, taxpayers and professionals are again racing against time, with many reporting portal slowdowns as the last-minute rush intensifies.

Taxpayers can file online via the official portal: incometax.gov.in

What is the e-utility facility?

The Income Tax Department provides free Java and Excel-based e-utilities to generate and submit returns, with step-by-step instructions.

Do I need to attach documents with ITR?

No. ITR forms are attachment-free. However, documents like Form 16, investment proofs, or TDS certificates must be kept ready for verification if requested.

Is filing ITR mandatory if the income is negative?

Yes. Losses must be reported before the due date if you wish to carry them forward for set-off in future years.

Can I file ITR after the deadline?

Yes, as a belated return, but late fees under Section 234F apply.

What is the penalty for late filing?

• Rs 5,000 if income exceeds Rs 5 lakh
• Rs 1,000 if income is below Rs 5 lakh

Will I get a refund if I paid excess tax?

Yes. Refunds are credited directly to your bank account through ECS transfer.

Are there disadvantages to filing ITR?

No. On the contrary, failure to file when taxable income exists may attract penalties and prosecution.

Has the ITR deadline been extended for AY 2025–26?

No. The final deadline is September 15, 2025.

What are the penalties for not filing?

• Late fees under Section 234F (₹1,000–₹5,000)
• Ineligibility for certain deductions (Sections 10A, 80-IA, etc.)
• Prosecution risk (3 months–2 years; up to 7 years if tax evaded exceeds ₹25 lakh)

How can deductions under Section 80G be claimed?

Donations must be reported in Schedule 80G of the ITR form, categorized into four tables depending on the recipient.

What is the Section 87A rebate?

• Old Regime: Rebate up to ₹12,500 if income ≤ ₹5 lakh
• New Regime: Rebate up to ₹25,000 if income ≤ ₹7 lakh

Can deductions exceed gross total income?

No. Chapter VIA deductions cannot exceed the Gross Total Income, except for exempt categories like capital gains.

Who must file Form 10-IEA to switch tax regimes?

• Business/professional taxpayers: File Form 10-IEA to opt for the old regime.
• Others: Choose regime directly while filing.

Can salaried employees claim extra rent deductions?

No. Only HRA under Section 10(13A) is allowed (old regime only). Section 80GG does not apply if HRA is part of salary.

What documents are needed to file ITR?

Keep ready:

• PAN and Aadhaar
• Bank details
• Form 16 (for salaried)
• Form 26AS and AIS
• Capital gains statements
• Investment proofs
• Rent receipts/home loan details (if applicable)

Timely filing helps avoid penalties, ensures refunds, and keeps financial records clean. With the deadline expiring tonight, taxpayers are urged not to delay further.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

Read More

Last Updated:September 14, 2025, 20:29 IST

India aims to expand its footprint in the global banking landscape with strategic reforms, AI-driven growth and international expansion.

State Bank of India, India’s largest public sector bank, is ranked 43rd globally on asset size. (File Photo)

India has set an ambitious target of having at least two public sector banks break into the world’s top 20 banks by asset size as part of the country’s strategic vision for a Viksit Bharat by 2047, according to a report by CNBC-TV18.

A high-level meeting is underway in Delhi between senior Indian bankers and officials from the Department of Financial Services (DFS), with discussions centred on shaping the future growth path of India’s banking sector.

As of now, India’s largest public sector bank, the State Bank of India (SBI), is ranked 43rd globally by asset size. Closing the gap to the top 20 is a significant challenge, but sources confided to CNBC-TV18 that the government is confident that the milestone can be achieved with strategic reforms and international expansion.

Furthermore, India’s bold target of having two public sector banks among the global banking elite reflects the government’s ambition to not only reinforce the domestic financial sector but also enhance India’s standing in the global banking arena.

The push comes against the backdrop of growing global economic uncertainty, with geopolitical tensions and volatile markets bringing the spotlight on Indian banks as essential tools to expand India’s presence in emerging international markets, support cross-border business, and safeguard the economy against external shocks.

Artificial Intelligence (AI) is playing a key role in India’s banking strategy, with the government banking on its role in driving organic growth for banks and helping them enhance customer experience, strengthen risk management, boost operational efficiency, and access underserved customer segments, the sources said.

Moreover, regulatory reforms are reportedly being considered to simplify procedures and remove outdated obstacles that hinder public sector banks from expanding globally, as per CNBC-TV18. These reforms aim to enhance competitiveness, foster innovation, and support quicker decision-making in line with international best practices.

Aveek Banerjee

Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international…Read More

Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international… Read More

Last Updated:September 14, 2025, 09:54 IST

Kavin Bharti Mittal announces the shutdown of Hike Messenger after 13 years, citing challenges post India Ban.

Kavin Bharti launched Hike in 2012.

Bharti Airtel group scion Kavin Bharti Mittal has announced to wind down India’s messaging app, a competitor to WhatsApp, after its 13-year journey. 

“After regrouping with our investors and the team, I’ve made the difficult decision to wind down Hike completely”, said Kavin Bharti Mittal in his Substack post.

Mittal further said that after India Ban, scaling globally of the messaging platform would require a full recap, which he called “not the best use of capital or time”. “For the first time in 13 years, my answer is no. Not for me, not for my team, and not for our investors,” Mittal added.

He said that US business, which was launched nine months ago, is performing well.

Sharing the 13-year journey in the post, Mittal said Hike Messenger reached 40M MAUs and became the 35th most loved consumer brand in India at its peak.

He said that with Rush, they built a new kind of Casual PvP gaming platform and scaled it to 10M users and $500M+ in gross revenue (CEA) in just 4 years.

Hike was launched in December 2012 by Kavin Bharti Mittal as India’s answer to WhatsApp, with the vision of creating a homegrown messaging platform tailored to Indian users. Backed by Bharti Enterprises and early investors like SoftBank, it quickly gained traction among the youth, crossing 100 million downloads within a few years.

“To everyone who has been part of this journey – our users, our team, our investors, and our community – thank you. As a CEO, you’re only as strong as your team, and I want to give a special shout-out to mine – an incredible group of people who gave this everything (Hike),” Mittal noted.

Hinting at his upcoming plans, Mittal said that he will help build the future, where willpower is infinite, energy is abundant, and intelligence is at our fingerprints. “This is the future I will help build — and it’s where I’ll be contributing in the decades to come. This new chapter will look very different from the last one,” Mittal added.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

Last Updated:September 13, 2025, 15:48 IST

India’s office market is entering a defining decade, marked by both resilience and reinvention, according to CBRE India.

Flex space operators continue to hold a significant share of India’s office leasing, consistently accounting for over 15% of annual absorption.

Office space demand in India is set to get a major boost, with 85% of domestic firms planning to expand their portfolios over the next two years, according to real estate consultancy firm CBRE’s latest India Office Occupier Survey 2025. The intent marks a sharp rise from 73% in 2024, reflecting stronger business sentiment, digital adoption and a shift towards an office-first approach.

The report noted that companies have bounced back strongly since the pandemic years. Leasing by domestic firms during 2023-24 was nearly 86% higher compared to pre-Covid levels in 2018-19. “India’s office market is entering a defining decade, marked by both resilience and reinvention,” said Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, the Middle East & Africa.

Office-First Policies Gaining Ground

The survey found that 94% of firms now prefer employees to work from office at least three days a week. More than half the companies (52%) have already adopted a full return-to-office policy, compared with 36% last year.

Flexible Workspaces On The Rise

Flex space operators continue to hold a significant share of India’s office leasing, consistently accounting for over 15% of annual absorption. The trend is expected to accelerate, with more companies planning to allocate up to half of their office portfolios to flexible workspaces in the coming years. Smaller occupiers, in particular, are leading this shift, 58% of them intend to place more than 10% of their office footprint in flex spaces within two years, according to the CBRE report.

GCCs Fuelling Expansion

Global capability centres (GCCs) remain one of the strongest demand drivers, contributing 35-40% of total annual office absorption. The survey found that 65% of GCCs expect to expand in the next two years, especially in sectors such as banking and financial services, life sciences, and engineering. Average deal sizes by GCCs have also grown, rising to about 108,000 sq. ft. in the first half of 2025 from 91,000 sq. ft. in 2024, it added.

Ram Chandnani, Managing Director-Leasing, CBRE India, said, “GCCs alone account for about 35-40% of absorption, driven by their rapid evolution into high-value innovation hubs. Flexible workspaces are no longer a secondary option; they are becoming integral to occupier strategies.”

ESG and Smaller Cities Gaining Traction

Sustainability has emerged as a key focus, with nearly three-fourths of GCCs already setting ESG targets for their real estate portfolios. At the same time, more occupiers are eyeing tier-II and tier-III cities for growth, citing access to skilled talent, lower costs, and improving infrastructure, CBRE said.

CBRE expects these forces — office-first strategies, flex space adoption, GCC expansion, and sustainability — to shape India’s office market in the years ahead, reinforcing the country’s position as a global office hub.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

Binod Chaudhary, chairman of Chaudhary Group (CG Corp Global), has built a formidable empire of 136 companies.

Last Updated:September 12, 2025, 09:41 IST

In Mumbai, the price of 24-carat gold stands at Rs 1,11,280 per 10 grams, while 22k gold is available at Rs 1,02,000 per 10 grams.

Gold Prices Today, September 12.

Gold & Silver Prices Today, September 12: Gold prices saw an appreciation on Friday, supported by persistent expectations of looser US monetary policy, as inflation remained steady in line with forecasts, producer prices unexpectedly fell, and jobless claims hit a four-year peak, highlighting labour market weakness.

In Mumbai, the price of 24-carat gold stood at Rs 1,11,280 per 10 grams, while 22k gold was available at Rs 1,02,000 per 10 grams. Silver was available at Rs 1,32,900 per kg.

On the MCX, the price of gold rose 0.48% to trade at Rs 1,09,500 per 10 grams, while silver was also up by 1.14% to Rs 1,28,383 per kg in the futures market in the early trade.

Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, “Bullion prices remained firm this morning with gold climbing toward $3,650, approaching its all-time high. Silver saw a sharp rally, crossing $42 in the spot market for the first time since 2011. Both precious metals are on track to post a fourth straight week of gains. The rally was supported by persistent expectations of looser US monetary policy, as inflation remained steady in line with forecasts, producer prices unexpectedly fell, and jobless claims hit a four-year peak, highlighting labour market weakness.”

Markets already priced in a 25 basis point Federal Reserve rate cut, with speculation growing over a potential larger reduction. Safe-haven demand was further bolstered by geopolitical uncertainties, including US efforts to push G7 allies to impose higher tariffs on India and China over Russian crude purchases, intensified Middle East conflict, and Poland intercepting Russian drones amid attacks in western Ukraine, he added.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On September 12?

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:September 11, 2025, 18:11 IST

A critical survey conducted across all income groups highlighted India’s household struggles with monthly and annual expenses amidst rising inflation.

Indian household expenses are soaring every month. (representative image)

Rising inflation threatens to break the back of the Indian middle class. According to Worldpanel India’s Kharcha 3.0 report, average household expenses in India have jumped significantly in the last three years. From about Rs 42,000 in June 2022 to over Rs 56,000 in March, there has been a 33 per cent rise in monthly expenses.

Around 6,000 households were surveyed as part of a syndicated study, which revealed that around 45 per cent of families in India today are struggling to manage their expenses and only 17 per cent feel they are living comfortably.

Inflation and increasing expenses have swelled most drastically in urban cities, where average quarterly spending has gone from Rs 52,711 in June 2022 to Rs 73,579 in March 2025. Over the same period, rural households that spent Rs 36,104 are now paying Rs 46,623 every quarter to make ends meet.

Increasing Expenses Hurt All Income Groups

A multifold jump in expenses has resulted in major budget constraints and financial stress on Indian citizens across income categories. The urban NCCS AB households, who are considered the most affluent, have recorded a 15 per cent increase in their yearly expenses. The rural NCCS CDE households have undergone an 18 per cent jump in annual expenses.

“With rising expenses across both urban and rural segments and most families prioritising essentials, savings, and debt repayment, consumers are becoming increasingly cautious in their choices,” said K Ramakrishnan, Managing Director – South Asia, Worldpanel by Numerator.

Rising expenses have weakened an Indian citizen’s buying capacity and consumer sentiment. The Reserve Bank of India’s Consumer Confidence Index reflects the same, enduring a drop from 98.5 in March 2024 to 95.4 in May 2025. During the survey, a whopping 59 per cent of households expected no improvement in their financial condition for the coming quarter, while 30 per cent worried it could get worse.

Indians are now exercising great caution with their monthly or annual budgets and prioritising needs above wants, including essentials, education and debt repayment. In a hypothetical scenario, 54 per cent of households confirmed that if provided extra income, they would prefer to keep it in savings. Only 7 per cent said they would buy a luxury item with it.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Last Updated:September 11, 2025, 09:26 IST

Indian equities opened on a muted note on Thursday, tracking mixed global cues

Sensex Today

Sensex Today: Indian equities started Thursday’s session on a subdued note, tracking mixed global signals. The BSE Sensex was down 34 points, or 0.04%, at 81,391, while the Nifty50 slipped 9 points to 24,964.

Infosys shares were trading about 1% lower ahead of the company’s board meeting scheduled today to consider its fifth share buyback programme. Historically, the IT major’s stock has delivered mixed returns in the short to medium term following buyback announcements.

In the broader market, however, sentiment was more positive. The Nifty MidCap index edged up 0.04%, while the Nifty SmallCap index gained 0.22%, both outperforming the frontline benchmarks.

Global Cues

In Asia, markets traded mixed as investors assessed China’s August inflation print. Mainland China’s CSI 300 edged up 0.13%, while Hong Kong’s Hang Seng slipped 1%. Consumer prices in China fell 0.4% year-on-year in August, steeper than the 0.2% drop forecast by economists polled by Reuters. The producer price index also declined 2.9% Y-o-Y, though easing from a 3.6% fall in July.

Elsewhere, South Korea’s KOSPI gained 0.57% after hitting a record high, and Japan’s Nikkei climbed 0.61%.

On Wall Street, the S&P 500 closed at a record high, rising 0.3% on the back of a 36% surge in Oracle shares after strong cloud guidance. The Nasdaq ended marginally higher, while the Dow Jones fell 0.48%.

Investors in the US now await the release of August CPI data and weekly jobless claims, both of which are expected to provide fresh cues on the Federal Reserve’s policy outlook ahead of next week’s rate decision.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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Last Updated:September 10, 2025, 20:54 IST

Apple assembles iPhone 17 series in Tamil Nadu and Karnataka, but Indian buyers pay far more than US consumers due to taxes, import duties, and Apple’s premium pricing strategy

Apple’s market share in India is about 6% overall but surges to nearly 60% in the premium smartphone category.

The Apple iPhone, once considered a niche luxury product, has steadily gained popularity among Indian consumers. The company is now assembling its latest iPhone 17 series at factories in Tamil Nadu, Karnataka. Yet, the price tag continues to puzzle buyers. In India, the flagship iPhone 17 Pro Max retails at Rs 1,49,900, whereas in the United States it is priced at $1,199 (roughly Rs 1,00,812). Prices in Dubai and Singapore are lower still.

What makes this more striking is that India levies no import duty on iPhones assembled domestically, while the US imposes a 25% tariff on imported devices. Nevertheless, the American consumer still pays less. Industry analysts say the answer lies in India’s tax regime, supply chain realities and Apple’s own pricing strategy.

Heavy Taxes and Import Duties

According to market experts, as much as 40% of the iPhone’s final retail price in India is accounted for by taxes and duties. More than 70% of the components including OLED panels, A-series processors, camera modules, are sourced from Taiwan, South Korea, Japan and the US. These imports attract duties of 10-22%, along with a 2% Social Welfare Surcharge. On top of this, an 18% GST is levied on smartphones. Thus, an iPhone with a base cost of Rs 1,00,000 becomes Rs 1,18,000 after GST alone.

In contrast, sales tax in the US varies between 0–10% depending on the state, making the effective tax burden far lighter even after tariffs.

Assembly Is Not Manufacturing

Though Apple partners Foxconn, Pegatron and Tata Electronics assemble iPhones in India, the distinction between assembly and full-fledged manufacturing is significant. The bulk of high-value components are still imported, limiting cost reductions. The Global Trade Research Initiative (GTRI) notes that while assembly costs in India average just $30 (Rs 2,520), in the US they would be $390 (Rs 32,760). Labour costs further tilt the scale as Indian workers earn about $230 a month, compared with $2,900 in the US.

This cost differential enables Apple to absorb US tariffs without passing the burden on to consumers.

Apple’s Premium Strategy in India

Apple’s market share in India is about 6% overall but surges to nearly 60% in the premium smartphone category. Industry watchers say the company deliberately positions the iPhone as a luxury product, preferring to protect margins rather than expand volumes through lower prices.

Dealer margins further inflate costs. With only two official Apple stores, in Mumbai and Delhi, the company relies heavily on third-party retailers, who take a margin of 10–12%. In contrast, Apple operates 247 company-owned outlets across the US, where direct sales reduce distribution costs.

Why US Prices Stay Lower

Despite tariffs, US prices remain competitive thanks to Apple’s vast market size, around 60 million units annually, and a robust supply chain. Reports suggest that Apple even shipped large consignments of iPhones to the US ahead of tariff deadlines, minimising cost escalation.

Will Prices Ever Fall in India?

There are some signs of relief. Under the government’s Production-Linked Incentive (PLI) scheme, Apple reportedly saves $35–50 million annually through tax breaks and subsidies. The Rs 15,000 price cut on the iPhone 16 Pro earlier this year was seen as a result of these incentives.

Analysts believe that if India begins large-scale domestic production of key components such as batteries and chips, prices could drop by 5–10% over the next few years. Until then, Indian consumers are likely to keep paying a “luxury premium” for Apple’s most sought-after device.

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Last Updated:September 10, 2025, 09:23 IST

Indian benchmark indices Sensex and Nifty50 are set for a positive opening on Wednesday, tracking firm global cues

Sensex Today

Sensex Today: Indian benchmark indices Sensex and Nifty50 are set for a positive opening on Wednesday, tracking firm global cues and upbeat comments from US President Donald Trump. In a series of posts on Truth Social, Trump said that India and the US are continuing negotiations to address “trade barriers” and added that he looks forward to speaking with Prime Minister Narendra Modi.

At last count, GIFT Nifty futures were trading 52 points higher at 25,002, indicating a green start for domestic equities.

Global Cues

Asian markets opened on a stronger note as investors awaited China’s August consumer price index (CPI) and producer price index (PPI) data. The CSI 300 in mainland China rose 0.27%, Hong Kong’s Hang Seng gained 0.39%, Japan’s Nikkei advanced 0.21%, while South Korea’s KOSPI jumped 1.3%.

On Wall Street, all three major US indices closed at record highs on optimism that the US Federal Reserve will cut interest rates at its meeting next week. The Dow Jones climbed 0.43%, the S&P 500 gained 0.27%, and the Nasdaq advanced 0.37%.

Meanwhile, investors in the US are awaiting the release of August PPI data later in the day, which could provide further clues on the Fed’s rate-cut path.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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Last Updated:September 09, 2025, 19:24 IST

According to Forbes, his 2023 wealth is $1.8 billion. While smaller than Elon Musk or Mukesh Ambani, it’s a remarkable feat for a small country like Nepal

His business acumen led him to partner with global brands like Suzuki and Panasonic. (News18 Hindi)

In the heart of the Himalayas, Nepal’s only billionaire, has built a fortune of $1.8 billion (around Rs 15,000 crore), showcasing a remarkable journey of entrepreneurship.

At 69, Binod Chaudhary, chairman of Chaudhary Group (CG Corp Global), has built a formidable empire of 136 companies, from ‘Wai Wai’ noodles to Taj Hotels, spanning sectors like banking, hotels, FMCG, energy, education, and health.

Born into a Marwari family in Kathmandu, Chaudhary’s roots trace back to Rajasthan, India. His grandfather migrated to Nepal and laid the foundation of their business legacy. His father then opened Nepal’s first departmental store, a significant achievement at the time.

Although Chaudhary was expected to take over the family business, he initially aspired to become a chartered accountant and began his studies in India. However, he had to return home at the age of 18 due to his father’s illness, leaving his academic pursuits behind and entering the business world.

From Disco To ‘Wai Wai’

Chaudhary’s journey into entrepreneurship began with opening Nepal‘s most famous disco in Kathmandu in 1973, which quickly became a youth hotspot.

In 1984, Chaudhary launched ‘Wai Wai’ noodles, now a staple in kitchens across India and Nepal, especially loved by children and adults in North and Northeast India

His business acumen led him to partner with global brands like Suzuki and Panasonic, further bolstering his ventures.

Nabil Bank To Taj Hotels

In 1995, Binod Chaudhary made a strategic move by acquiring a controlling stake in Nabil Bank from the Dubai government, which has since become Nepal’s leading bank. His most successful endeavour, however, lies in the hospitality sector. Chaudhary Group boasts 143 hotels, including several 5-star establishments in collaboration with India’s renowned Taj Hotels, spread across Nepal, India, and Sri Lanka, epitomising luxury.

Empire Of 136 Companies

Chaudhary Group’s influence extends far beyond noodles and hotels. It encompasses sectors such as banking, real estate, telecom, energy, education, and health, with projects ranging from power initiatives in Nepal to electronics in India.

According to Forbes, Binod Chaudhary’s wealth in 2023 was $1.8 billion. Although this is modest compared to giants like Elon Musk ($247 billion) or Mukesh Ambani ($107.1 billion), it is a significant achievement for a small country like Nepal.

Bollywood Dreams, Tata-Mandela Inspiration

Chaudhary is an ardent fan of Bollywood, particularly of Amitabh Bachchan’s films. He draws inspiration from JRD Tata, who revolutionised Indian business, and Nelson Mandela, who demonstrated the power of change. Besides being a successful businessman, Chaudhary serves as a Member of Parliament in Nepal, adding another dimension to his illustrious career.

Sons Take The Helm

At 69, Binod Chaudhary has entrusted the future of Chaudhary Group to his three sons, Nirvan, Rahul, and Varun, who are poised to elevate the business further, ensuring the continued success of ‘Wai Wai’ and Taj Hotels.

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Last Updated:September 09, 2025, 09:13 IST

Indian equities are likely to open on a firm note on Tuesday, tracking mixed global cues

Sensex Today

Sensex Today: Indian equities are likely to open on a firm note on Tuesday, tracking mixed global cues. As of the latest update, GIFT Nifty futures were trading 74 points higher at 24,967, indicating a positive start for domestic benchmarks.

Global Cues

In Asia, markets showed a mixed trend. Mainland China’s CSI 300 slipped 0.19 per cent, while Hong Kong’s Hang Seng gained 0.3 per cent and South Korea’s KOSPI added 0.49 per cent. Japan’s Nikkei 225 surged 0.9 per cent to a fresh record high, marking a second straight day of gains after Prime Minister Shigeru Ishiba announced his resignation on Sunday.

Overnight, Wall Street indices closed in the green, supported by strength in technology stocks. The Nasdaq Composite hit a new record, ending 0.45 per cent higher, while the Dow Jones gained 0.25 per cent and the S&P 500 added 0.21 per cent. Optimism is building among US investors that the Federal Reserve could cut rates at its meeting next week.

On the commodities front, gold extended its rally past the $3,600 mark for the first time on Monday, highlighting continued investor demand for safe-haven assets.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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Last Updated:September 08, 2025, 19:08 IST

Samsung has signed a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India (ESSCI) to train 10,000 students in emerging technologies

The programme will upskill 20,000 students in future-tech skills such as Artificial Intelligence (AI), Internet of Things (IoT), Big Data, and Coding & Programming during 2025.

Samsung, India’s largest consumer electronics brand, on Monday announced a major expansion of its flagship CSR programme, Samsung Innovation Campus (SIC), reaffirming its commitment to empowering India’s youth with future-ready skills while supporting the Government’s vision of Digital India and Skill India.

The skilling programme, will expand to 10 states this year, up from four in 2024. It will upskill 20,000 students in future-tech skills such as Artificial Intelligence (AI), Internet of Things (IoT), Big Data, and Coding & Programming during 2025, a six-fold increase over last year’s 3,500 students. Alongside technical training, the students will also receive instruction in soft skills to enhance workplace readiness, while eligible candidates will be supported with placement assistance in relevant industries.

JB Park, President and CEO, Samsung Southwest Asia, said Samsung Innovation Campus, which is aligned with the Government of India’s Skill India and Digital India initiatives, reflects our shared vision of harnessing technology to unlock opportunities for the youth.

“Through Samsung Innovation Campus, we are equipping India’s youth with future-ready skills, helping them prepare for the digital economy and drive the country’s progress. We remain committed to expanding access to skilling and employment opportunities, especially for students from underserved communities, and to support the Government’s vision of a digitally-empowered India,” said JB Park.

Strategic Focus On Scale & Inclusion

Samsung has signed a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India (ESSCI) to train 10,000 students in emerging technologies across Uttar Pradesh, Karnataka, Andhra Pradesh, Telangana, and West Bengal. A second MoU with the Telecom Sector Skill Council (TSSC) will extend the programme to another 10,000 students in Tamil Nadu, Delhi, Haryana, Punjab, and Maharashtra.

A key emphasis this year will be on Uttar Pradesh and Tamil Nadu, with 5,000 students from each state set to receive training in future technologies. The initiative is designed to democratize access to future-tech skills by reaching both urban and semi-urban areas, ensuring that underserved communities are not left behind in India’s digital transformation.

Electronics Sector Skills Council of India (ESSCI) and Telecom Sector Skill Council (TSSC), both National Skill Development Corporation (NSDC)-approved entities, will implement the programme through their networks of accredited training partners and centres. Since its launch in India in 2022, Samsung Innovation Campus has trained 6,500 students in future technologies.

Saurabh Verma

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

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Last Updated:September 08, 2025, 08:55 IST

John D. Rockefeller was the first billionaire. Now, Elon Musk may become the first trillionaire if Tesla achieves targets as per proposed $ 1 trillion pay package.

If the proposal is approved, Elon Musk stands to gain around 423.7 million extra Tesla shares. (File Photo)

Elon Musk Pay Package: The American businessman John D. Rockefeller was the first billionaire, who achieved the massive wealth accumulation on the back of the expansive growth in the Oil industry in the early 1900s. Since then, thousands of wealthy individuals have joined the coveted list globally, and there are now approximately 3,000 billionaires in the world.

As the wealth of these wealthiest people has been increasing exponentially in recent decades, a new race has kicked off: who will be the first trillionaire?

Tech titans have amassed a whopping wealth in current times, thanks to the stratospheric growth in the online segment at the global level, leading to an interconnected and interdependent world.

Tech billionaire Elon Musk is the primary contender in the race to become the first trillionaire. Musk is the chief of Tesla, the EV company, social platform X (former Twitter), space company SpaceX, and a few other ventures.

A new pay package approved by Tesla board could shoot Elon Musk into that glorious milestone – first trillionaire in the world, if the company were successful in achieving targets and goals, including market capitalization, vehicle sales, and robotics deployment, in the next 10 years.

The pay package worth $1 trillion is being called the largest executive compensation in history.

However, shareholders of Tesla have to approve the pay plan in a voting scheduled for November, 06, 2025.

Tesla shares regained the upward momentum after dropping substantially in 2025 over many reasons, including Musk’s role as DOGE head. After his exit from the Federal role, the confidence of investors returns, as the stocks are up 7 per cent in the past one month and 33 per cent in the past six months.

What’s The Component Of the Package?

According to reports, the proposed package has a component of stocks’ allotment of approximately 423.7 million additional (or 12 per cent) over the next 10 years, if he meets the targets. These will be applicable with two conditions, followed by Musk: 7.5 years of continued leadership and full vesting, requiring a full 10-year commitment.

What Are Targets And Milestones In Tesla Pay package?

Tesla has set ambitious goals for Musk, which include:

• Increasing the company’s market capitalization from about $1.1 trillion to a minimum of $8.5 trillion.

• Launching one million autonomous “robotaxis” into commercial service.

• Rolling out one million humanoid robots.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Last Updated:September 06, 2025, 18:22 IST

It is essential to carefully review the terms and conditions of a health insurance policy, paying close attention to clauses related to accidental coverage and exclusions

Injuries during exercise at the gym are quite common. (Representative/Shutterstock)

In recent times, there has been a significant increase in fitness awareness among people. Gyms have emerged not only in large cities but also in small towns, attracting a considerable number of individuals seeking workouts. However, injuries during exercise at the gym are quite common. A pertinent question arises: are such injuries covered by health insurance?

Most health insurance policies cover sudden gym injuries, such as a dumbbell falling, cuts from a machine, or strains and fractures, under “accidental hospitalisation”. This means that treatment costs for these injuries are generally paid for.

According to a report by Business Standard, Rajendra Upadhyay, Chief Growth Officer of Choice Insurance Broking, confirms that gym injuries are included in most health policies. Nevertheless, claims can be rejected if the injury results from activities against a doctor’s advice, or the use of steroids or narcotic drugs.

Free Treatment For These Types Of Injuries

It’s important to note that for the treatment to be covered, the injury must necessitate hospitalisation. Surgeries due to such injuries are also covered under the policy. Some policies now extend to day care procedures, which involve treatments lasting less than 24 hours. However, injuries from professional and adventure sports, such as bodybuilding competitions, marathons, and boxing, are often excluded from coverage.

If an accident occurs in the gym and the affected individual is admitted to a network hospital associated with the policy, cashless treatment can be availed.

Check Terms And Conditions Carefully

It is crucial to thoroughly read the terms and conditions of the health insurance policy, especially the sections related to accidental coverage. Regular gym-goers or those involved in sports activities might consider obtaining a personal accidental insurance cover for added protection.

Exclusive Policy For Gym And Sports Injuries

In India, specialised policies for gym and sports injuries are available from insurers like ACKO Health Insurance and Bajaj Allianz. ACKO’s policy covers gym or sports-related injuries under “Accidental Injury” and includes ambulance charges.

Bajaj Allianz offers a ‘Gym Injury Policy’ with a low premium, providing up to Rs 2 lakh coverage specifically for fitness or gym-related accidents.

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Last Updated:September 06, 2025, 19:39 IST

Nirmala Sitharaman thanked state finance ministers for supporting the GST overhaul, unanimously approved at the GST Council, and promising relief for the common man.

Finance Minister Nirmala Sitharaman.

Union Finance Minister Nirmala Sitharaman wrote to finance ministers of all states, expressing gratitude for their support and active role in helping implement the landmark overhaul of the goods and services tax (GST) regime.

In an interview with news agency PTI, Sitharaman said states made their view on the proposal to rejig tax rates but ultimately agreed that it was for the benefit of the common man, an argument that helped reach a unanimous decision at the GST Council meeting earlier this week.

The revision, set to take effect on September 22 and expected to reduce rates on a broad range of products—from butter and chocolates to shampoos, tractors, and air conditioners—was approved at a GST Council meeting on September 3. The council, chaired by Sitharaman, comprises representatives from all states and Union Territories.

“Yesterday, I wrote a letter to each finance minister thanking them, saying, you can have any number of intense discussions and arguments, but finally, the Council rose to the occasion and gave relief to the people of India, to all people of India. And, I am grateful for that gesture. So, I wrote that letter,” she said.

Seh called the work at the Council, truly ‘remarkable’. Despite concerns about potential revenue loss from reclassifying most products into two main categories—5% for essential goods and 18% for all others, eliminating the 12% and 28% slabs—the council unanimously approved the GST overhaul.

The panel was to meet for two days, starting September 3, to discuss the proposal made by the Centre, but ended up approving it on the very first day after a marathon day-long meeting.

“So the sense of the house was, this is a proposal which is going to undoubtedly benefit the common man. There is no point in standing against it… Ultimately, everybody came together for a good cause, and I’m truly very grateful,” the Finance Minister said.

The minister stated that while states have consistently supported rate reductions, their primary concern has been the impact on revenue following the tax cuts.

“I even appealed to them, saying, for the sake of the people of India, please. It’s not just the states. It’s even the Centre that is going to be affected by the reduction. But we’ll make up for it because once the rates come down, people are going to come out to buy, and that will take care of it (revenue impact). That’s how consensus was arrived at,” she said.

Speaking at a press conference following the GST Council meeting, Sitharaman expressed her gratitude to the states for their cooperation and collaborative efforts in implementing one of India’s most significant tax reforms.

On Saturday, she observed that the Council had patiently considered every comment and suggestion from its members. “All points were carefully discussed before reaching a consensus,” she said.

She also emphasised the inclusive nature of the discussions, noting that several ministers who wished to speak again after their initial points had been addressed were allowed to do so.

“Their additional inputs were heard and taken into account,” the Finance Minister emphasised. She also credited states for their constructive participation in the GST Council and their commitment to driving tax reform.

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Last Updated:September 06, 2025, 07:00 IST

The government disbursed a total of Rs 20,500 crores into the accounts of over 9.7 crore farmers registered in the PM Kisan Yojana in the 20th instalment.

Farmers await the 21st instalment of the PM Kisan scheme. (Photo Credit: X)

Launched on December 1, 2018, the Pradhan Mantri Kisan Samman Nidhi Yojana or PM Kisan Yojana is a central government scheme that provides financial assistance to farmers in India. The scheme gives eligible farmers Rs 6,000 on an annual basis, distributed in three equal instalments directly into their registered bank accounts.

In August, the Prime Minister Narendra Modi-led Indian government transferred the 20th instalment of the PM Kisan Yojana worth Rs 2,000 into the bank accounts of all the beneficiaries. The government transferred a total of Rs 20,500 crores into the accounts of over 9.7 crore farmers registered in the scheme. Farmers are now awaiting the 21st instalment of the PM Kisan Yojana to continue their farming services.

PM Kisan Yojana 21st Instalment

The upcoming 21st instalment of the PM Kisan Yojana will take the total disbursement under the scheme past Rs 3.9 lakh crores that the government has already given to the farmers since the assistance was introduced. Not all farmers of India, however, will receive the 21st instalment of the scheme, which is due to only the eligible citizens who fulfil the necessary conditions required.

To be the eligible recipient of the PM Kisan Yojana’s benefits, the applicant should: (a) have agricultural land which is (b) registered in the name of the applicant before 1/2/2019, and (c) a bank account linked to Aadhaar and NPCI (DBT Enabled).

Which Farmers Are Not Eligible For The PM Kisan Yojana?

– Farmers with a family member who is already a beneficiary of this scheme.

– Those who do not have their own cultivable land.

– Whose age is less than 18 years as of 01.02.2019

– Owner of an institutional land.

– If the applicant or the other family members are NRIs.

– Farmer whose family members are holding constitutional posts.

– If the farmer has family members who have been or are ministers in the central or state government.

– Whose family member has been the Chairman of Zilla Parishad, Mayor of Municipal Corporation/present/former member of Lok Sabha, Rajya Sabha, Legislature.

– Farmers with family members working/retired officers/employees of Central/State Government departments and regional offices/public undertakings/present/former officers and employees (except Class IV employees) of any government attached/autonomous institution.

– One whose family members are retired employees of the institute mentioned above with a monthly pension of Rs 10,000 or more (except fourth-class employees).

– Farmer whose family member has paid income tax in the previous financial year.

– One with a family member registered with a professional body related to a Doctor/Engineer/Lawyer/Chartered Accountant/Architect and currently practising.

Eligible farmers can register for the PM Kisan Yojana using its official portal, i.e. pmkisan.gov.in.

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Last Updated:September 05, 2025, 17:29 IST

‘The rupee fall issue is related to the volatility as a result of the strengthening dollar’: FM Nirmala Sitharaman in interview with Network18 Group Editor-in-Chief Rahul Joshi.

Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman on Friday said it is only against the dollar that the rupee is highly volatile, whereas the rupee is not affected similarly against other currencies. She added that the issue is related to the volatility as a result of the strengthening dollar.

In an exclusive interview with Network18 Group Editor-in-Chief Rahul Joshi, the finance minister said, “It is only against the dollar that the rupee is highly volatile, whereas the rupee is not affected similarly against other currencies. And, there are countries in emerging markets and even in developed countries, whose currencies against the US dollar are also weakening.”

She added that it is an issue related to the volatility as a result of the strengthening dollar.

“It’s not the rupee getting weakening (but the dollar is strengthening). I know I have been trolled immensely for saying this but this is the truth,” the finance minister said.

The rupee on Friday declined 15 paise to close at an all-time low of Rs 88.27 (provisional) against the US dollar amid sustained outflow of foreign funds and fear of additional US tariffs against India. A weak greenback and falling crude oil prices failed to prevent the fall in local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and touched the lowest-ever intra-day level of 88.38 before ending the session at a fresh all-time low closing mark of 88.27 (provisional), down 15 paise from its previous close.

The local unit lost 10 paise to close at 88.12 against the US dollar on Thursday. The previous all-time low for the rupee against the US dollar was at 88.15 on September 2.

“The rupee fell to its record low on rumour of the Trump administration imposing tariffs on the Indian IT sector, taking shares down and USD/INR pair up. However, as news agencies denied the rumour, the rupee recovered slightly though the dollar was still well bid at 87.25 levels,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

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Last Updated:September 05, 2025, 00:25 IST

Amid a tariff tussle between India and the US, Commerce Minister Piyush Goyal said the ties between the two countries are “multidimensional and will only strengthen with time”

Commerce Minister Piyush Goyal with US Secretary of Commerce Howard Lutnick during a meeting, in USA, in May. (Image: @PiyushGoyal/PTI)

Commerce Minister Piyush Goyal has hinted at a resumption of trade deal negotiations between India and the United States by November.

Amid worsening ties between India and the US due to a tariff tussle, Goyal said the relationship between the two countries is “multidimensional and will only strengthen with time”.

“Well, if you recall when Prime Minister (Narendra) Modi and President Donald Trump met in February, they had tasked the two teams to conclude the first tranche of a bilateral trade agreement by the fall of 2025, which is about November,” Goyal told News18 when asked if the now-stalled trade deal will be back on track soon. 

ALSO READ: Piyush Goyal Lauds ‘Transformative’ GST Reforms, Says US Trade Talks On | Top Points

During an exclusive interview with Network18 Group Editor-in-Chief Rahul Joshi, he said India-US ties are one of the most consequential and the two countries are “allies and friends”. The friendship between the two is much stronger than a few isolated comments, he added.

“We will continue to be engaged to try and find solutions to reach that outcome. A few days, a few weeks, a few months in a nation’s history… such small periods will not define long-term objectives and goals,” he said.

Watch the video here:

In reference to aides of US President Donald Trump – like White House adviser Peter Navarro – calling the Ukraine conflict “Modi’s war” or India “the laundromat of the Kremlin”, the Union minister said there could be “misunderstandings” reflecting “personal opinions”, which had resulted in “erratic and incendiary language”.  

“I think they could be either some misunderstandings or some personal opinions that may be reflected in that. I do not think that deters the US and India from continuing to maintain our strategic alliance and partnership,” he said.

‘WE’LL NEVER COMPROMISE ON INTERESTS OF FARMERS…’

Trade talks between India and the US collapsed earlier this year as the former did not agree to opening its vast agricultural and dairy sectors. Bilateral trade between the world’s largest and fifth largest economy is worth over $190 billion.

Reiterating Prime Minister Narendra Modi’s stand on not compromising on the interests of the agrarian sector, Goyal said any issue of national interest can constitute “red lines” or “no-go areas” when it comes to making an important deal with another country.

“I think any issue that can hurt national interests, that can hurt the interests of our farmers, our fishermen, our MSME industry, issues with religious sensitivity — those would be broadly the issues where India would need an understanding when we finalise the framework of our agreement. And we will never compromise on the interests of our farmers, our fishermen, our MSMEs or our religious sensitivities,” he said.

‘WE NEGOTIATE BEHIND CLOSED DOORS’

In what can be seen as a swipe at US President Donald Trump’s recent claims that India “offered” to cut its tariffs on American goods to “nothing”, Goyal said he negotiates “behind closed doors” and not “with the media”.

“…I never negotiate such agreements and free trade deals with the media. We negotiate behind closed doors and once the negotiations are complete, we will certainly come back to you,” he said.

On how China has hit the US with retaliatory tariffs and if India will take similar action, he said India believes in dialogue and diplomacy as its ultimate goal is to strengthen relations.

“Well, India is a patient country and I believe we should give it every effort to come to a better, deeper understanding within the framework of international trading laws. We have always believed in dialogue and diplomacy and an effort to strengthen rather than weaken relations,” he said.

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Last Updated:September 04, 2025, 17:13 IST

With the new GST reforms, a middle-class family can save around Rs 1,165 monthly, plus extra on big purchases, offering substantial relief ahead of Navratri and Diwali

The GST on items related to children’s studies, such as pencils, notebooks, and books, has been eliminated. (Representative/PTI)

The GST Council announced significant changes to the GST structure on September 3, set to take effect on September 22, 2025. These reforms are poised to bring substantial savings for the common man through GST reduction.

To illustrate, let us a middle-class resident of Delhi earning Rs 50,000–60,000 per month and living in a rented house with two children. He would see noticeable savings in his monthly budget due to these changes.

Savings On Food Items

Under the new GST reforms, the tax on everyday items like paneer, ghee, namkeen, and packaged drinking water has been reduced from 12% or 18% to 5%. For instance, if a family spends Rs 5,000 per month on these items, the GST at the old rate (12%) was Rs 600, making the total expenditure Rs 5,600.

Now, with the reduced GST rate of 5%, the tax will be Rs 250, bringing the total expenditure to Rs 5,250. This results in a saving of Rs 350.

Savings On Clothes And Shoes

Previously, there was a 12% GST on clothes and shoes up to Rs 2,500, which has now been lowered to 5%. Suppose a family spends Rs 2,000 per month on children’s clothes and shoes. At the old rate (12%), the GST was Rs 240, making the total expenditure Rs 2,240.

Now, with the new GST rate of 5%, the tax will be Rs 100, and the total expenditure will be Rs 2,100, saving Rs 140.

Savings On Health And Life Insurance

Personal care products such as shampoo, toothpaste, and hair oil, which had an 18% GST, now have a reduced rate of 5%. If a family spends Rs 1,500 on these items, the GST at the old rate (18%) was Rs 270, making the total expenditure Rs 1,770.

With the new rate of 5%, the tax will be Rs 75, and the total expenditure will be Rs 1,575, saving Rs 195.

Additionally, the GST on health and life insurance premiums has been reduced from 18% to 0%. If a family pays Rs 2,000 per month for health insurance, the previous GST was Rs 360, making the total cost Rs 2,360.

With the new rate of 0%, the expenditure will be Rs 2,000, saving Rs 360.

Savings On Items Related To Children’s Studies

The GST on items related to children’s studies, such as pencils, notebooks, and books, has been eliminated, dropping from 12% or 5% to 0%. If a family spends Rs 1,000 on these items, the old GST rate (12%) was Rs 120, making the total expenditure Rs 1,120.

Now, with 0% GST, the expenditure will be Rs 1,000, saving Rs 120.

Monthly Savings Calculation

In total, the monthly savings for a middle-class family can be calculated as follows: Rs 350 (food items) + Rs 140 (clothes) + Rs 195 (personal care) + Rs 360 (insurance) + Rs 120 (study material), amounting to Rs 1,165 per month. Annually, this results in a saving of Rs 13,980.

If the family makes significant purchases, such as an AC (GST reduced from 28% to 18%) or a small car (GST reduced from 28% to 18%) during the festive season, the savings will be even greater. For instance, an AC worth Rs 30,000, which previously cost Rs 38,400 (28% GST), will now be available for Rs 35,400 (18% GST), saving Rs 3,000.

Therefore, with the new GST reforms, a middle-class family’s monthly savings can amount to approximately Rs 1,165, with additional benefits on larger purchases. This presents a substantial benefit from the government to the middle class ahead of Navratri and Diwali.

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Last Updated:September 04, 2025, 05:23 IST

By weaving together healthcare, education, and livelihood interventions, HCCB aims to create resilient, self-sustaining communities in Maharashtra’s rural belts

Commenting on the initiative, CM Devendra Fadnavis said that Maharashtra’s development journey hinges on inclusive growth, and partnerships such as these strengthen the government’s vision of bridging gaps between urban and tribal communities. Pic/News18

Hindustan Coca-Cola Beverages (HCCB), one of India’s leading FMCG companies, has formalised multiple Memorandums of Understanding (MoUs) with the district administrations of Pune, Ratnagiri, Palghar, and Jalgaon to accelerate inclusive development in Maharashtra. The agreements, signed in the presence of Chief Minister Devendra Fadnavis, Water Resources and Disaster Management Minister Girish Mahajan, and Environment & Climate Change Minister Pankaja Munde, mark a significant push to extend CSR-driven development initiatives to rural and tribal regions. Project SHINE, HCCB’s flagship CSR programme, will focus on empowering women, improving access to water and healthcare, strengthening education, and creating sustainable livelihood opportunities across these districts. The programme’s design emphasises alignment with district-level development plans, ensuring initiatives are relevant, scalable, and impactful.

Through the partnership, HCCB will co-create interventions with local administrations, led by District Collectors Shri Devender Singh (Ratnagiri), Dr. Indu Rani Jakhar (Palghar), Shri Ayush Prasad (Jalgaon), and Shri Jitendra Dudi (Pune). These interventions include rejuvenation of water bodies, construction of overhead tanks, upgradation of Anganwadis and Primary Health Centres (PHCs), and strengthening of hygiene, sanitation, and nutrition awareness through WASH initiatives. The MoUs also cover the deployment of electric vehicles for waste collection, expansion of Nagrik Soochna Kendras (NSKs) to improve access to government schemes, digital literacy, and skill-building initiatives for youth. Women’s Self-Help Groups (SHGs) will be supported with training and resources to promote entrepreneurship and sustainable livelihoods. By weaving together healthcare, education, and livelihood interventions, HCCB aims to create resilient, self-sustaining communities in Maharashtra’s rural belts.

Commenting on the initiative, CM Devendra Fadnavis said that Maharashtra’s development journey hinges on inclusive growth, and partnerships such as these strengthen the government’s vision of bridging gaps between urban and tribal communities. Echoing the sentiment, Himanshu Sekhar Priyadarshi, VP & Chief PACS Officer, HCCB, emphasised the company’s long-term commitment to community empowerment and sustainable growth. He noted that the programme would directly address district-specific challenges—from water security in tribal hamlets to upskilling youth for future-ready jobs. To date, HCCB’s CSR programmes have already touched over 1.2 lakh individuals across Maharashtra. With the new MoUs, the company aims to deepen its footprint by aligning with local administrations and scaling its initiatives for maximum social impact. Project SHINE is anchored on five pillars—environmental sustainability, health and hygiene, women’s empowerment, education and skills, and community empowerment—providing a comprehensive model for rural development.

Mayuresh Ganapatye

Mayuresh Ganapatye, News Editor at News18.com, writes on politics and civic issues, as well as human interests stories. He has been covering Maharashtra and Goa for more than a decade. Follow him at @mayuganapa…Read More

Mayuresh Ganapatye, News Editor at News18.com, writes on politics and civic issues, as well as human interests stories. He has been covering Maharashtra and Goa for more than a decade. Follow him at @mayuganapa… Read More

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Last Updated:September 03, 2025, 17:29 IST

The GST Council is likely to have approved measures to reduce the registration time for non-risky MSMEs and start-ups from the current 30 days to just three.

The GST Council is likely to have cleared the proposal to issue exports refunds within seven days, based on risk analysis.

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising ministers from all states, is likely to have approved measures to reduce the registration time for non-risky MSMEs and start-ups from the current 30 days to just three. According to CNBC-TV18 citing sources, the risk classification will be based on parameters and data analysis by GSTN, which is the IT backbone for implementing the indirect tax regime.

The GST Council is also likely to have approved two-rate GST structure, involving 5% and 18% rates, according to sources.

According to the report, the Council, in its ongoing 56th meeting, is also likely to have approved an optional simplified registration scheme with automatic approvals for businesses whose monthly tax liability does not exceed Rs 2.5 lakh.

It is also likely to have cleared the proposal to issue exports refunds within seven days, based on risk analysis, according to CNBC-TV18.

Refunds stuck under the inverted duty structure in sectors such as textiles, pharma, chemicals, and fertilisers will also be released on a provisional basis within seven days.

According to the report, small refunds up to Rs 1,000 will be facilitated through ICEGATE for faster export refund claims. Nearly 1.5 lakh shipping bills currently pending are expected to be cleared.

56th GST Council Meeting

The two-day GST Council meeting began on Wednesday, to discuss the much-awaited rate rationalisation, GST slab restructuring into two rates, and compensation cess.

The Council is expected to cut rates on a large number of items from 28% to 18% and from 12% to 5%. However, the final decision of the GST Council will be announced by Sitharaman tomorrow, Thursday, September 4.

Currently, the GST regime has four slabs — 5%, 12%, 18% and 28%. Apart from this, there is a 3% slab for jewellery items.

The 56th GST Council will, over the next two days, discuss the Centre’s ‘next-gen’ GST reform proposal of having just two tax rates of 5 and 18 per cent. A special 40 per cent rate has been proposed to be levied on a select few items.

If the Council agrees to the Centre’s GST reform proposal, most of the common use food items like ghee, nuts, drinking water (20 litre), non-aerated drinks, namkeen, certain footwear and apparel, medicines and medical devices are likely to move from a 12 per cent to a 5 per cent tax slab.

Common use items, ranging from pencils, bicycles, umbrellas, to hairpins, may also move to a 5 per cent slab. Prices of electronic items like a certain category of TV, washing machine and refrigerator are likely to fall because of being taxed at a lower rate of 18 per cent, as against 28 per cent currently.

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Last Updated:September 02, 2025, 19:54 IST

Apart from retirement planning and pension, the EPF scheme also offers tax benefits, which are not available under mutual fund equity investments.

For FY 2024-25, the EPF interest rate has been set at 8.25 per cent. (Photo Credit: Instagram)

The Employees’ Provident Fund (EPF) scheme offers an opportunity to salaried workers in the private sector to build a retirement corpus. The government-backed scheme has been designed to offer financial protection to the private sector employees in their retirement years. Under the scheme, an employee contributes 12% of the basic salary and dearness allowance every month. An equal amount is also contributed by the employer.

It offers a secure and fixed interest rate, which has been set at 8.25 per cent per annum for FY 2024-25.

On the other hand, there are equity assets, such as stocks and mutual funds, that come with the potential of delivering much higher long-term returns than most fixed-rate investment options.

However, the question here is, can 8.25% EPF returns beat a potential 16 per cent annual return from equity schemes over a horizon of 5 years?

CA Compares EPF and Equity Returns

In a recent LinkedIn post, Chartered Accountant Nitesh Buddhadev explained how the EPF investments can beat the equity schemes despite lower returns.

He took the example of two employees having a gross income of Rs 26 lakh and a basic pay of Rs 1 lakh each. Both of these individuals began their employment after September 1, 2014, with a base wage and dearness allowance (DA) of more than Rs 15,000 per month. Both have opted for the new tax regime for filing their income tax returns (ITRs).

Adding to this, he shared that if the first employee chooses a 12 per cent EPF limit, the monthly EPF contribution will be Rs 12,000. As the employer matches the amount and pays Rs 12,000, the total monthly contribution to EPF will be Rs 24,000.

For the employees who joined after September 1, 2014, and get a basic salary of more than Rs 15,000, the entire 24 per cent goes to EPF, as they are not eligible for the Employees’ Pension Scheme (EPS).

Contrary to this, the CA uses the example of another employee who decided to opt out of EPF and instead invests Rs 24,000 in equity. New employees who join after September 1, 2014, and have a base salary of more than Rs 15,000 have the option to opt out of the EPF.

Now, according to the CA, since this employee is liable to pay tax on the increased portion of salary of Rs 12,000 (which would have been the employer’s EPF contribution), the effective equity investment will be Rs 20,256 rather than Rs 24,000.

The CA estimated a total of Rs 3,744 per month as tax liability, which included a 30 per cent flat tax rate and a 4 per cent health and education cess.

How Does Taxation Impact Overall Returns

The CA estimated the first employee’s EPF corpus at an interest rate of 8.25 per cent over a five-year period to grow into Rs 17.75 Lakh.

However, at an estimated 11 per cent return on equity investments during the same 5-year period, the corpus for the second employee (after capital gain tax) would grow into Rs 15.75 lakh.

Result? Even though the equity investments provided higher returns of 11 per cent, PF outperformed them with only 8.25 per cent returns due to the tax advantage.

Going by the calculation, the CA suggested that in order to reach a corpus of Rs 17.75 lakh, the equity investor must receive a 16 per cent (post-tax) annualised return over 5 years.

Though it may sound surprising, EPF can help you get higher returns compared to equity investments due to tax benefits.

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Last Updated:September 02, 2025, 17:26 IST

Both the PPF and SIPs are popular investment instruments for long-term wealth accumulation.

PPF offers steady returns, while SIPs come with market-linked growth. (Representative Image)

Long-term wealth creation needs thorough planning and consistent investment. For investors, looking forward to long-term wealth accumulation, mutual fund Systematic Investment Plans (SIPs) and Public Provident Fund (PPF) are the two most popular options. While SIPs offer market-linked returns, government-backed PPF scheme ensures secure growth of your money.

Both investment instruments are popular choices among Indian instruments for long-term goals, but they differ significantly in terms of returns, risks, tenure and other aspects.

Choosing between the two should be based on the investment goal, risk appetite and tenure as per the financial position of the investor. While SIPs allow better flexibility in terms of investment amount and tenure, PPF comes with a fixed lock-in period. Investors can choose the tenure and amount in SIP schemes as per their needs and ability to invest money every month. There is no upper limit to the amount you can invest in an SIP scheme. On the other hand, under PPF, the maximum deposit is capped at Rs 1.5 lakh per annum.

Investors can start their SIP journey with a minimum sum as low as Rs 500. On the other hand, the minimum amount to invest in the Public Provident Fund is Rs 500 per financial year.

The PPF provides a fixed interest rate of 7.1 per cent per annum, whereas market-linked SIPs are subject to risks and fluctuations and therefore come with no fixed returns on investments. However, the recent market trends indicate equity mutual fund SIPs offer an average return of 12-14 per cent per annum.

SIP vs PPF: Investing Rs 1,25,000 Per Annum For 10 Years

If you are planning to invest Rs 1,25,000 per annum for 10 years, choosing between the SIP and PPF for this investment should be decided based on your risk appetite and financial goals.

The government-backed PPF could be a suitable choice for risk-averse investors looking for steady returns through a secure scheme. On the other hand, SIPs could be a suitable choice for investors eyeing high returns from a market-linked instrument despite the risks.

Let’s see how your investment could grow in 10 years under both schemes:

PPF Investment:

Amount: Rs 1,25,000 per annum

Interest Rate: 7.1%

Tenure: 15 Years

Total Investment: Rs 18,75,000

Estimated Returns: Rs 15,15,174

Total Corpus: Rs 33,90,174

Here, the investments and total corpus have been calculated for a tenure of 15 years, as per the lock-in period under the PPF scheme.

SIP Investment:

Amount: Rs 1,25,000 per annum

Interest Rate: 12%

Tenure: 10 Years

Total Investment: Rs 12,50,000

Estimated Returns: Rs 12,06,823

Total Corpus: Rs 24,56,823

Here, mutual fund SIP clearly emerges more rewarding as your corpus fund would grow into more than Rs 24.5 lakh in 10 years, and in 15 years, the amount would grow into more than Rs 52 lakh. On the other hand, the PPF investments would grow into nearly Rs 34 lakh in 15 years. However, choosing an option between PPF and SIPs should depend on your risk appetite and financial objectives.

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Last Updated:September 01, 2025, 21:08 IST

A Bengaluru man with a Class 10 degree saved over Rs 1 crore through discipline and a simple lifestyle, securing his family’s future without loans or credit cards over 25 years

For 25 years, he has lived in rented accommodation across the city, changing homes only four times. (News18 Hindi)

Financial independence may be a dream for many, but one proofreader from Bengaluru has shown that it does not require a fancy degree or a high-paying job. With nothing more than discipline, patience, and a simple lifestyle, the 53-year-old has built savings of over Rs 1 crore, securing his family’s future.

His journey began in 2000, when he left his small village with just Rs 5,000 in hand and arrived in the city. Armed with only a Class 10 degree, he landed a job as a proofreader with a modest starting salary of Rs 4,200. Over the years, through consistency and dedication, his income gradually rose to Rs 63,000. Remarkably, he stayed in this one profession throughout his career, never seeking alternate ways to earn money.

At a time when most households rely heavily on loans and credit cards, he made a conscious choice to avoid both. He never borrowed from anyone, never owned a credit card, and always lived within his means. This discipline became the foundation of his financial success. By the time of his retirement, he had accumulated about Rs 1.01 crore in fixed deposits and an additional Rs 65,000 in equities. Today, those savings bring him a passive monthly income of Rs 60,000, while his family’s expenses remain limited to around Rs 25,000.

For 25 years, he has lived in rented accommodation across the city, changing homes only four times. He currently resides in a modest 1BHK apartment, paying a rent of Rs 6,500. His reputation as a reliable tenant comes from his habit of paying rent on time. A minimalist at heart, he sold off his scooter years ago and now prefers walking. Despite suffering from high myopia, he maintains good health and is capable of running 5 kms without difficulty.

His wife has never worked, and his daughter has only recently started earning. Yet, his lifestyle choices ensured that the family never felt deprived. He holds a firm belief that the true assets in life are “education, health, time, patience, and discipline”. With retirement on the horizon, he plans to return to his ancestral village, but for now, continues to live in Bengaluru, where his life stands as proof that financial freedom is not about luxury cars or sprawling bungalows, but about living debt-free and content.

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Last Updated:September 01, 2025, 16:59 IST

Gold Rates In 2015 Vs 2025: Bullion, which was earlier believed to be a slow mover when it comes to the return on investment, has surprised investors by outperforming markets.

Gold Vs Sensex Returns.

Gold Rates In 2015 Vs 2025: Gold prices have surprised investors this year after they have delivered more than 35% returns in just nine months of 2025. Moreover, the yellow metal has outperformed the Nifty and the Sensex in the past 10 years, with the yellow metal surging from nearly Rs 25,000 a decade ago to above Rs 1,05,000 now.

Gold & Silver Historical Returns

Gold prices had stood at Rs 25,000 per 10 grams a decade ago in 2015. It has surged 320% since then to currently trade at Rs 1,05,000 per 10 grams in India.

Silver prices have also given an impressive return of 270% between 2015 and 2025, as its prices have increased from Rs 33,300 a decade ago to Rs 1,23,000 now.

Sensex, Nifty Historical Returns

The Sensex had stood at 25,700 in September 2015. It has risen by 210% till now, as the BSE benchmark currently trades near the 80,000 level.

Also Read: Gold, Silver Prices Hit All-Time Highs On MCX: Why Is Bullion Shining, Is It Right Time To Invest?

Similarly, the Nifty had stood at nearly 7,800 a decade ago, which has increased to 24,500 currently, registering a growth of about 215% during the period.

Gold & Silver Vs Sensex & Nifty: Returns Comparison

The bullion market, which was earlier believed to be a slow mover when it comes to the return on investment, has surprised investors in the past decade by outperforming the equity market. Gold’s 320% and silver’s 270% returns turn out to be way higher than the Sensex’s 210% and the Nifty’s 215% returns over the past decade.

Why Has Gold Outperformed Sensex Over The Decade?

The precious metal prices have surged amid geopolitical and global economic uncertainties, especially the COVID-19 pandemic, the Russia-Ukraine war, the Middle East tussles, and the global economic slowdown amid supply chain disruptions. However, these factors have dragged the equity market returns over the period amid weak economic outlooks.

Analysts also cite a weakening rupee as a key factor behind the continued rise in precious metal prices in India.

Are Gold Prices Expected To Rise Further?

Experts say gold is expected to rise further during the upcoming festive and wedding seasons.

“Gold prices remain near record highs amid ongoing uncertainty surrounding US President Trump’s reciprocal tariffs following a recent court ruling, as well as concerns about the central bank’s independence. With US markets closed for a holiday, global cues are limited, shifting the focus to the Indian rupee. Its continued depreciation has led to elevated domestic gold prices. Meanwhile, domestic buying is expected to pick up ahead of the Shraddh period, which begins on September 7,” said Darshan Desai, chief executive officer of Aspect Bullion & Refinery.

Renisha Chainani, head of research at Augmont, said that if macroeconomic risks remain elevated, gold prices could feasibly target $3700 (Rs 1.10 lakh) in the next few weeks in September and $4000 (Rs 1.20 lakh) in the next few months by the end of 2025.

Gold: A Technical View

“Gold has support at $3420-3395, while resistance at $3465-3480. Silver has support at $39.35-39.10, while resistance is at $40.05-40.35. In rupee terms, gold has support at Rs 1,03,340-1,02,940 while resistance at Rs 1,04,450-1,04,750. Silver has support at Rs 1,19,450-1,18,850, while resistance at Rs 1,20,950-1,21,650,” Rahul Kalantri, vice-president (commodities) of Mehta Equities.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 31, 2025, 18:21 IST

Tata Capital plans a USD 2 billion IPO in late September, with Tata Sons and International Finance Corporation selling stakes, marking the Tata Group’s second major listing.

Tata Capital IPO is expected to open in the last week of September.

Tata Capital IPO: The wait is finally over. Tata Capital, an NBFC, is set to launch its much-awaited USD 2 billion (Rs 17,200 crore) IPO in the last week of September, with a likely market debut on September 30, according to a report of PTI citing people familiar with the matter.

The proposed IPO of 47.58 crore shares comprises a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares, according to the updated draft red herring prospectus (DRHP) filed in August.

Under the OFS component, Tata Sons will offload 23 crore shares, while the International Finance Corporation (IFC) will divest 3.58 crore shares.

Currently, Tata Sons holds an 88.6 per cent stake in Tata Capital, while IFC owns 1.8 per cent holding, the PTI report said.

Proceeds from the IPO will be used to strengthen the company’s Tier-1 capital base, supporting future capital requirements, including onward lending.

If successful, this IPO will become the largest public issue in India’s financial sector. It will also mark the Tata Group’s second public listing in recent years, following the debut of Tata Technologies in November 2023.

Earlier, IPO-bound Tata Capital launched a series of institutional roadshows to engage both global and domestic investors.

Investor sentiment turned bullish amid optimism that the Tata Capital IPO could unlock value and strengthen the Tata Group’s presence in the listed financial services segment.

The move is in line with the Reserve Bank of India’s directive requiring all ‘upper layer’ non-banking financial companies (NBFCs) to go public by September 2025.

Tata Group’s financial services firm Tata Capital has reported strong financial performance ahead of the listing. In the March 2025 quarter, the company’s consolidated profit after tax (PAT) surged 31% year-on-year to Rs 1,000 crore, while revenue from operations jumped nearly 50% to Rs 7,478 crore. For the full FY25, PAT rose to Rs 3,655 crore from Rs 3,327 crore in FY24, and total revenues climbed to Rs 28,313 crore from Rs 18,175 crore.

In April 2025, Tata Capital filed draft papers with markets regulator Sebi to launch its initial public offering. The draft papers for the $2-billion IPO was filed through a confidential pre-filing route.

Tata Capital’s decision to opt for the confidential pre-filing route is part of a growing trend among Indian companies. This route allows companies to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 31, 2025, 17:09 IST

The Income Tax Department extended the ITR filing deadline for FY2024-25 to September 15, 2025, for non-audited taxpayers. Audited accounts must file by October 31, 2025.

Income Tax Filing Deadline 2025

ITR 2025 Deadline: Individual taxpayers who don’t require audit must hurry up to file their income tax return (ITR) filing for FY2024-25 (Assessment year 2025-26) as only 15 days are left for the deadline, September 15, 2025. Once it’s over, they need to pay a penalty and can’t avail some benefits like offset of losses or carry forward.

The Excel utility for ITR forms from 1 to 7 is now available. Moreover, taxpayers can choose ITR forms depending on requirements and eligibility to complete their tax duties on the income tax portal.

Why Taxpayers Shouldn’t Wait For Last Date/Week?

It is prudent to file ITR before the last date. Near the end of the deadline, the portal may witness a surge in filing by taxpayers, as those who have been delaying the filing will turn to do so before the deadline.

During that time, the portal may face technical glitches, outages, and longer buffering due to overload. Thus, it’s better to complete your tax duties as soon as possible.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 30, 2025, 18:07 IST

Commerce Minister Piyush Goyal had reaffirmed that India is open to trade talks with the United States but will never succumb to pressure amid a tariff hike.

Union Minister Piyush Goyal. (File Photo: PTI)

Union Commerce Minister Piyush Goyal on Saturday assured that the Indian government is committed towards sustainable economic growth, after India’s GDP grew at 7.8% in the first quarter ending on June 30, 2025, as per official data.

“We are committed to working with all of you, and we would like to ensure that this GDP growth of 7.8% is sustainable,” he was quoted as saying by NDTV at an event organised by the Confederation of Indian Industry in Mumbai.

“It can happen, as in adversity, we Indians shine out. We all have the ability to put that little extra,” Goyal said. His remarks came after US President Donald Trump imposed 50% tariffs on Indian imports as a penalty for purchasing Russian oil, impacting key trade sectors such as textiles and shrimp.

India has condemned the tariffs as “unfair and unreasonable”, citing the US and Europe’s own imports from Russia. The Finance Ministry has said that the immediate impact of recent US tariffs on Indian exports may appear limited but their secondary and tertiary effects on the economy pose challenges that must be addressed.

‘India Will Never Back Down’

On Friday, Goyal said India was open to trade talks with the US, but would never succumb to pressure or appear weak in the face of punitive tariffs. “We are always ready if anyone wants to have a free trade agreement with us,” he said at the curtain raiser event of Bharat Buildcon in Delhi.

“However, any form of discrimination affects the self-respect of India’s 140 crore Indians, and we will neither bow down nor ever appear weak. We will continue to move together and capture new markets,” he added.

Goyal also expressed confidence that the recent trade agreements with various countries will help the Indian economy to grow. He also assured that the government will soon introduce various measures to expand the domestic outreach and boost exports.

He also said there was “no need to fear”, citing India’s management of nuclear sanctions and the Covid-19 pandemic. “The government is committed to make sure that all of you do not face any stress or difficulties in managing the current situation emanating from some unilateral actions,” he said.

Aveek Banerjee

Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international…Read More

Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international… Read More

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Last Updated:August 29, 2025, 17:50 IST

Here’s Reliance Chairman Mukesh Ambani’s Full Address To Shareholders During 48th RIL AGM.

Mukesh Ambani speaks at 48th RIL AGM.

Mukesh Ambani’s Full Speech At RIL AGM 2025: Reliance Industries Chairman Mukesh Ambani on Friday announced key growth initiatives at the company’s 48th AGM, including a timeline for Jio’s IPO, the launch of a new AI-focused subsidiary ‘Reliance Intelligence’, and partnerships with Google and Meta to accelerate India’s artificial intelligence ecosystem.

Here’s Mukesh Ambani’s Full Address To Shareholders During 48th RIL AGM.

“My Dear Shareowners,

Namaste, and a very warm welcome to the 48th Annual General Meeting of Reliance Industries Limited.

We meet today on the most auspicious occasion of Ganesh Chaturthi. Lord Ganesh has arrived in our homes and in pandals on our streets. Let us begin this meeting by seeking the blessings of Bhagwan Ganesh – for you, your families, the entire Reliance Parivar, and for all the people of India and the world.

Friends,

The global economy today is navigating through an era of great uncertainty. Geopolitical tensions are rising, volatility is persistent, and predictability is scarce.

The world is realising that conflict produces no winners, whereas co-operation ensures shared prosperity. When nations co-operate, trade flows freely, investments flourish and everyone wins.

In today’s inter-dependent world, the prosperity of each country is inseparably linked to the prosperity of all. Paradoxically, while uncertainty surrounds us, humanity also stands at the threshold of a golden age in the 21 century – an age defined no longer by scarcity, but by super-abundance and super-affordability for all eight billion people on this planet.

This has become possible because of the convergence of three powerful technological transformations:

· Breakthroughs in Clean Energy are unlocking a future of abundance, sustainability, and security, raising hopes for overcoming the climate crisis.

· Breakthroughs in Genomics promise dramatic improvements in cure of diseases, longevity, and overall health.

· Breakthroughs in Artificial Intelligence and allied Deep Technologies have already begun to boost productivity, efficiency and human potential to unimaginable levels.

Owing to its miraculous power, AI can now be called the new Kamdhenu – the divine wish-fulfilling cow of our age.

At Reliance, we see these three convergent transformations not as distant possibilities, but as immediate opportunities for India. Therefore, we are building the world’s most advanced Clean Energy ecosystems. We are expanding into the frontiers of Digital Health, Life Sciences and Genomics. And we are developing AI as a new growth engine, besides embedding AI across all our businesses – from retail to telecom, from energy to entertainment.

India, with its scale, talent, and entrepreneurial spirit, is uniquely positioned to lead in this new era of AI, Clean Energy, and Genomics. And Reliance has positioned itself confidently to lead our nation’s mission to ensure that abundance and affordability become the birthright of every Indian.

This is our solemn promise.

Friends,

The possibilities created by these new technologies are staggering. The global GDP, at $110 trillion today, has the potential to reach $500 trillion within the next 25-30 years.

Imagine, in our own lifetime, we can end poverty globally and ensure that every human being has access to all basic needs. For this vision to be realised, it is our hope that the world leaders choose co-operation over conflict, dialogue over discord, and win-win agreements over zero-sum rivalries.

Despite geopolitical uncertainty, one truth is crystal clear. India is on the rise, and India’s rise is unstoppable. Today, India already ranks among the world’s top four global economies.

Under the determined leadership of our visionary Prime Minister, Shri Narendrabhai Modiji, India’s GDP is growing faster than all major economies. With the right set of reforms, advanced manufacturing capabilities, and a national priority on Deep Tech, our economy can grow at 10% annually.

This will mean that the per capita income of Indians could rise 4-5 times within the next two decades, making India not just a prosperous nation but also a more equal nation.

More importantly, India need not copy any foreign model. We have the ability, and the responsibility, to create an India-first model of development.

This model will use Deep Tech to bring prosperity and security to India, improve the quality of life of each and every Indian, and protect the environment. This model will also harmonise technology with democracy, economy with culture, spirituality with science, and national aspirations with friendship across all nations.

This is the collective dream of nearly 1.5 billion Indians – to build a nation that leads with both prosperity and compassion. This, my dear shareholders, is the Indian Dream.

Dear Shareholders,

As Reliance approaches the close of its Golden Decade, we rededicate ourselves to the rapid realisation of this Indian Dream. We are resolutely transforming our operating model to become a Deep-Tech company with advanced manufacturing capabilities. We are making every one of our businesses AI-native, positioning them for hyper-growth.

Our corporate philosophy of “We Care” compels us to continuously improve the quality of our products and services in ways that promote the wellbeing of both People and Planet. Our operating model is now led more by innovation than capital intensity. That is why we are attracting and empowering super-talented young leaders who will drive the next wave of value creation with bold innovations.

Reliance has never rested on its past laurels. Our Founder and Forever Guide, Shri Dhirubhai Ambani, instilled in us a DNA of relentless reinvention and reimagination. Again and again, we will reimagine and re-engineer ourselves to create greater wealth for our nation and higher value for society.

This is my solemn commitment to you.

Business & Financial Performance

Dear Shareholders,

I am happy to share with you the details of yet another stellar year of business and financial performance, achieved in spite of multiple challenges.

In FY-25, Reliance delivered record consolidated revenue of Rs 10,71,174 crore ($125.3 billion), becoming India’s first-ever company to cross $125 billion in annual revenues.

Reliance’s EBITDA stood at Rs 1,83,422 crore ($21.5 billion) and net profit grew to ₹81,309 crore ($9.5 billion).

Reliance’s exports were ₹2,83,719 crore ($33.2 billion), contributing 7.6% of India’s total merchandise exports.

Your company invested cumulatively ₹5.6 lakh crore ($65.5 billion) over the last three years.

And it remains the single largest contributor to the national exchequer, contributing Rs 2,10,269 crore ($24.6 billion) in FY-25. In the last six years, Reliance’s contribution to national exchequer has crossed Rs 10 lakh crore ($117.0 billion).

I am also proud to report that Reliance’s CSR spending in FY-25 rose to ₹2,156 crore ($252 million). Our cumulative CSR expenditure over the last three years has crossed ₹5,000 crore ($585 million).

This is a clear reflection of our unwavering commitment towards creating a societal impact.

Friends,

Employment generation for India’s talented youth is a national priority. It is also a priority for Reliance.

Globally, the dynamics of employment are undergoing a shift towards flexibility, driven mainly by AI and automation. Reliance has also adopted modern engagement formats that combine opportunities for upskilling, entrepreneurial drive, job satisfaction, and higher earning potential.

Today, our conventional and non-conventional workforce has grown to nearly 6.8 lakh people. I see this growing to more than 10 lakh people over the next few years. It gives me immense satisfaction to say that we rank among the most admired employers and largest job creators in India.

Reliance continues to lead across every key growth parameter – revenues, profitability, exports, market value, investments, contribution to the exchequer, and societal impact. I am confident that Reliance will keep breaking its own records in business performance next year and beyond.

Digital Services

Dear Friends,

Let me begin by sharing with you the impressive performance of our digital business. Just a week from now, Jio will enter its 10th year of service to the nation. Looking back, these years have been the most glorious in India’s digital history.

Today, I am proud to share with you that the Jio family has crossed 500 million customers. The 500-million milestone is a symbol of your unwavering trust and support. I offer my heartfelt gratitude to each and every one of you.

I have heard people say: “Jio changed my life”, and “I love Jio”. But I say from my heart: “Actually, each and every Indian built Jio by simply making it a part of their lives.”

Let me present a short video of our Jio journey – how 500 million Indians made Jio.

Friends,

Jio was conceived at a time when India’s road to digital transformation was blocked. Prohibitive data prices, poor connectivity, and poorer speeds had stifled the digital aspirations of Indians. That is when we said, “This must end.” And Jio ended India’s digital poverty within a few years.

Jio’s bold Deep-Tech initiatives sparked India’s technological revolution and became the backbone of our Prime Minister’s Digital India Mission. Let me mention only five major achievements of Jio, which were previously unimaginable:

· First, Jio made voice calls free from anywhere to everywhere in India.

· Second, Jio made it a habit for common Indians to watch videos on their mobile and do digital payments, also through mobiles.

· Third, Jio laid the foundation for India’s Digital Public Infrastructure such as Aadhaar, UPI, Jan Dhan, Direct Bank Transfer, and empowered a confident new generation.

· Fourth, Jio enabled creation of the world’s third-largest startup ecosystem in India comprising over 100 unicorns.

· Fifth, Jio’s nationwide 5G rollout, the fastest in the world, has laid the foundation for the AI revolution in India.

Dear Shareholders,

As a result of these achievements, the financial performance of Jio is scaling new heights with every passing year.

Jio’s revenue was Rs 1,28,218 crore ($15.0 billion), a growth of 17% YoY in FY-25; and EBITDA was Rs 64,170 crore ($7.5 billion). These figures are a testimony to the enormous value Jio has already created, and even greater value it is destined to create.

Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first-half of 2026, subject to all necessary approvals.

I assure you that this will demonstrate that Jio is capable of creating the same quantum of value like our global counterparts. I am sure that it will be a very attractive opportunity for all investors.

Friends,

Jio’s plans for the future are even more ambitious. They rest on five assurances:

· One: Jio will connect every Indian on mobile and home broadband.

· Two: Jio will equip every Indian home with digital services such as Jio Smart Home, JioTV+, Jio TV OS, and seamless automation.

· Three: Jio will digitise every Indian business and enterprise with simple, scalable, and secure platforms.

· Four: Jio will herald the AI revolution in India. Our motto is AI Everywhere for Everyone.

· Five: Jio will expand its operations outside India, taking our home-grown technology to people around the world.

I am extremely confident that the path ahead for Jio is even brighter than its journey so far…

We are proud of Akash and the entire Jio leadership team for their achievements. I am sure that you will surpass your successes in the future.

Dear Friends,

Disney, which is amongst the largest entertainment companies globally, has partnered with Reliance to form JioStar…

We look forward to a very strong partnership with Disney.

Dear Shareholders,

Let me update you on our news and current affairs business.

Network18 is pioneering disruptive models with a sharp focus on credible journalism, creative content, and innovation.

Moneycontrol has consolidated its leadership as India’s largest platform for business news, financial markets data, and investment analytics.

With over one million paid subscribers, Moneycontrol Pro ranks among the top 15 subscription platforms globally, alongside The Wall Street Journal and The New York Times.

Firstpost is growing rapidly as India’s digital-first global view of the world, with a strong presence across platforms. In May this year, it recorded over 400 million video views, becoming the most-viewed Indian English news channel on YouTube globally. It is now India’s first truly global news brand for geopolitics, strategic affairs, culture, and lifestyle. In the coming year, Firstpost will expand further with new bureaus in key world capitals.

Network18 continues to lead with CNN-News18, the No. 1 general news channel for three consecutive years.

CNBC-TV18 has retained its leadership in business news for more than two decades, with an overwhelming market share. With CNBC-TV18 Prime and CNBC-TV18 Access, it is delivering premium content to CXOs and decisionmakers nationwide. It is now looking beyond India for global mindshare, market share, and revenue share, delivering delight across screens and platforms.

I am counting on the leadership team at Network18 to carry the flag of Indian journalism around the world.

Reliance Intelligence

Dear Shareholders,

I am proud that Artificial Intelligence is already at the heart of Reliance’s transformation into a Deep-Tech enterprise. To bring even more focus and speed to this agenda, today, it is my great pleasure and privilege to announce the formation of a new wholly-owned subsidiary called Reliance Intelligence.

This new company is conceived with four clear missions:

· First, to house India’s next-generation AI infrastructure. Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at national scale. Work has already begun on the gigawatt-scale, AI-ready data centres in Jamnagar. These facilities will be delivered in phases aligned to India’s growing needs, powered by Reliance’s new-energy ecosystem, and custom-made for AI training and inference.

· Second, to house global partnerships. Reliance Intelligence will bring the world’s best tech-companies and open-source communities together with Reliance’s deep-domain expertise and execution strength, to deliver performance leadership, resilient supply, and India-first compliance for AI.

· Third, to build AI services for India. Reliance Intelligence will deliver trusted, easy-to-use AI services for consumers, small businesses, and enterprises, and solutions for sectors of national importance such as Education, Healthcare, and Agriculture. The services will be reliable at scale and affordable for every Indian.

· Fourth, to house talent for AI. Reliance Intelligence will create a home for world-class researchers, engineers, designers, and product builders, combining the speed of research with the rigour of engineering, so that ideas become innovations and applications, providing solutions to India and the world.

Friends,

Today, I am delighted to announce a deeper, holistic partnership for AI with our long-standing partner, Google. Through this partnership, we are marrying Reliance’s proven capability to build world-class assets and execute at India’s scale with Google’s leading cloud and AI technologies, so that developers, start-ups, and enterprises can innovate faster, operate more securely, and reach every corner of India…

Dear Shareholders,

Today, I am also pleased to unveil a new, India-focused AI joint venture with our close partner, Meta. Together, we want to pair the power of open-source AI with Reliance’s deep domain knowledge across industries.

That is why, we are forming a dedicated joint venture with Meta to combine open models and tools with our execution in Energy, Retail, Telecom, Media, and Manufacturing, and to deliver sovereign, enterprise-ready AI for India…

Our joint venture with Meta is a game-changer for Indian enterprises and for sectors of national importance. It will bring transparency, portability, and community-driven progress; enable sovereign hosting and governance within India; and lower inference costs while raising safety and trust, so that adoption accelerates from pilot to production across the economy.

Dear Friends,

Another exciting frontier for AI is Robotics, especially Humanoid Robotics. Astonishing advances are taking place in this field. Intelligent automation will transform factories into adaptive production systems, warehouses into autonomous supply chains, and hospitals into centres of precision care.

We are investing to make India a leader in human-centric robotics powered by AI, creating new types of industries and services, new types of agriculture, new types of jobs, and attractive new opportunities for our youth.

Dear Shareholders,

A decade ago, digital services became a new growth engine for Reliance. Now, the opportunity before us with AI is just as large, if not larger.

Jio promised and delivered digital everywhere and for every Indian. Similarly, Reliance Intelligence promises to deliver AI everywhere for every Indian.

With Reliance Intelligence and our strong partnerships, green infrastructure, and India-first governance, we are building for the next decade with confidence and ambition. I am excited about what we will achieve, and I look forward to keeping you updated on our progress in the coming years.

Retail Business

Dear Shareholders,

It fills me with immense pride to stand before you today and speak about one of the most impactful growth journeys in modern India – the journey of Reliance Retail.

We have today, India’s most advanced, scalable, and inclusive retail ecosystem, delivering the highest quality and widest choice at affordable prices across the country. And it is amongst the fastest growing retailers globally, with scale and depth that is unparalleled in the world. Reliance Retail is now ready to write the next chapter of super growth

Reliance Consumer Products Limited (RCPL) had an outstanding growth in just the first year of operations. It has achieved a turnover of Rs 11,500 crore ($1.4 billion), making it the fastest-growing FMCG company ever. It is bringing some of India’s most loved brands like Campa to the consumers in a new avatar, making everyone love them once again…

Dear Shareholders,

Let us applaud Isha and the entire Retail Team for their superlative achievements. Isha has presented a truly ambitious growth path for our Retail and Consumer Products businesses. We will achieve these ambitious goals by riding India’s growth wave, powered by technology, and driven by our passion to create products that inspire loyalty and love.

Dear Shareholders,

Now we turn to our energy business…

Let me congratulate the entire leadership team of Energy Business for their operational excellence in challenging times. I am sure that they will set global benchmarks in executing all their projects, making New Energy a large growth engine for Reliance…

Reliance Foundation

What Reliance Foundation has achieved in the past 15 years is, of course, highly impressive. But you have raised the bar higher by aiming to amplify its impact five-fold by 2035, when Reliance Foundation celebrates its Silver Jubilee. More power to you and your highly motivated team.

Value Creation Roadmap

Dear Shareowners,

I shall now share with you our Value Creation Roadmap for the coming year and beyond.

It is with immense pride – and even greater humility and gratitude – that I look back on our shared extraordinary journey of value creation over the past five decades. In just one generation, Reliance has transformed itself from a Fortune 1000 company to a Fortune 40 global powerhouse, creating over $200 billion in value – all within India.

We have achieved this by staying true to the First Principles I have often shared with you:

· One, what is good for India is good for Reliance.

· Two, build businesses of the future.

· Three, build them world-class, and at mega scale – the largest and most competitive globally, with the highest standards of governance.

· Four, invest in world-class talent and cutting-edge technologies.

Faithful adherence to these principles has been our value-creation dharma.

Dear Shareholders,

As I look to the future, I see our O2C business achieving substantial growth and delivering stable returns as geopolitical tensions subside. I also see rapid, innovation-driven growth in our materials business. We are well-positioned to produce high-value green fuels and chemicals which India and the world will need.

Our New and Clean Energy business is being built with a singular purpose: to make India self-sufficient in energy, and to resolve India’s energy trilemma of security, affordability, and sustainability through world-scale giga manufacturing, through round-the-clock renewable electricity, and through green fuels and chemicals at global scale.

This goal may look impossible to achieve now. But we are laying a robust foundation for our country’s energy transition so that freedom from imports can be achieved by the time India celebrates 100 years of independence in 2047.

I am sure that our New Energy business will be a major driver of growth for many decades, with the potential to become as big as our Oil-to-Chemicals business within the next 5-7 years. In scale, ambition, and impact, it will surpass everything Reliance has done so far. It will create unprecedented, perpetual value for both India and Reliance.

Dear Shareholders,

Jio today is the largest data company globally. Its multiple inherent strengths guarantee accelerated growth. All of Jio’s 500 million – and growing – subscribers will move to 5G and eventually 6G by 2030. Jio’s home and enterprise digital services businesses are growing at phenomenal speed.

Reliance Retail, now synonymous with the consumption basket of over 300 million Indians every month, is another testament to our ability to create hyper-value. In just five years, it has leap-frogged from the Top-100 to the Top-25 global retailers – powered by an unbeatable physical-digital-B2B network that reaches every corner of India.

Retail will continue to grow in both B2B and B2C spaces with our customer-centric, omni-channel strategy. I can clearly see its revenues grow multifold in the coming years.

This year, I announced the creation of two new large growth engines –RCPL and Reliance Intelligence. Each of them has the potential to grow larger than our existing business segments.

RCPL, as a subsidiary of RIL, is a strategic move to create India’s largest FMCG company. RCPL’s phenomenal growth is guaranteed by the consumption boom in India, our world-class supply chain, and advanced manufacturing capabilities.

Our new Intelligence business will drive the AI revolution in India. This will enable Indians to adopt AI at scale and make our country a global force in AI.

Recognising these strengths, Gartner, the globally reputed technology research and advisory firm, has ranked Reliance Industries alongside Microsoft, Amazon, Google, Meta, and Alibaba, stating that these entities are the new superpowers, and are “setting the terms for the next global economy”.

Dear Shareholders,

Our value creation philosophy is deeply rooted in our work culture. The work culture of Reliance is guided by a wise principle Mahatma Gandhi propagated nearly a century ago: “A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him.”

With this principle, we have fundamentally changed the operating model of all our consumer-facing businesses – we do not sell, we serve. Our engagement with customers, suppliers, and partners is not transaction-based – it is trust-based, and therefore enduring.

The national wealth, employment, and societal impact created by our businesses and philanthropic initiatives are already so huge that they make me both humble and proud.

But the best of Reliance is yet to come. In 2022, I made a promise that we will double Reliance by the end of our Golden Decade in 2028. At that time, our EBITDA was about Rs 1.25 lakh crore ($14.6 billion). I reiterate that Reliance will more than double its EBITDAby the end of its Golden Decade.

Thank you for your trust, your partnership, and your belief in our shared vision.

Institutional Strengthening

Dear Friends,

At Reliance, we believe that institutional longevity and perpetual growth are guaranteed only by constant self-renewal.

This demands four elements:

· A deep bench of capable leadership at all levels

· Unshakable core values

· A resilient work culture

· A never-changing commitment to the original purpose of the organisation

We are strengthening all four – deliberately and decisively.

A major milestone in this journey has been the evolution of our next-generation leaders – Isha, Akash, and Anant – who have now completed two transformative years on the Board of Reliance Industries.

Fully embedded in operations and decision-making, they are shaping our businesses with energy, conviction, and clarity of purpose. Under the mentorship of senior leaders and independent directors, they are becoming the kind of leaders this era demands – agile, accountable, ambitious, empathetic, and consultative. They are supported by hundreds of young leaders in their 30s and 40s, with domain expertise and the same passion and ambition that built Reliance.

Friends,

Leadership development at Reliance is not a programme, but a foundational strategy. We have institutionalised systems to identify high-potential talent across businesses, empowering them with responsibilities, global exposure, and AI tools to lead boldly in the complex world of today.

We are also constantly perfecting our HR practices to enrich our People Capital. I want everyone at Reliance to feel the pride of being part of the Reliance Parivar, united by a commitment to serve India and the larger humanity.

As Reliance, what sets us apart – and grounds us – are the virtues of Purpose, Philosophy, Passion, and Pioneering Spirit of our Founding Chairman, Shri Dhirubhai Ambani. His legacy continues to guide us as we innovate and grow, ensuring we stay rooted in our Indian identity and values.

As India accelerates into her next horizon, so must Reliance. Expectations are rising from all quarters – our people, partners, our country, as well as the international community. We are not just preparing for that future. We are shaping it.

Conclusion

Dear Shareholders,

It has been my privilege to serve your company since its inception and to attend every single AGM of Reliance for the past 48 years. This has given me the opportunity to watch, and participate in, every phase of Reliance’s evolution.

I have also witnessed India’s incredible journey in these five decades ─ from a “Third World” country to one now on the threshold of becoming a First World Power.

The most important lesson this journey has taught us is that there is no substitute for economic strength. This lesson is reinforced by recent geopolitical developments. India must gain greater economic strength ─ and do so with a sense of urgency.

Our Prime Minister, Shri Narendra Modi ji, rightly exhorted us in his Independence Day speech that the yardstick of aatma samman – self-respect is atma nirbharata – self-reliance. India must become self-reliant to the maximum extent in key technologies, critical industries, and other vital sectors of the global economy.

Throughout our history, Reliance has contributed to this mission of building a strong India, a Balwaan Bharat. I assure our respected Prime Minister that Reliance will follow his command with redoubled efforts.

However, the magnitude of the challenge is so large that all Indian businesses must work together with unity as a grand coalition – in the spirit of cooperation, mutual learning, and mutual support.

I had made this suggestion in last year’s AGM, and I repeat it today. There is strength in unity and collective endeavour. And this is what the nation today expects from its business community.

Acknowledgements

On behalf of all our shareholders, I extend my heartfelt thanks to our Board of Directors for their guidance and oversight.

My deepest appreciation goes to all our employees – our greatest asset – whose dedication and commitment have enabled the company to reach new heights.

I also thank our business partners for their unwavering support in delivering quality solutions.

Above all, I remain profoundly grateful to India and all Indians for their enduring faith in Brand Reliance.

Thank you, Jai Hind, and Jai Shri Krishna!”

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 29, 2025, 17:08 IST

The RIL chairman said ‘the most important lesson this journey has taught us is that there is no substitute for economic strength’

Mukesh Ambani speaks at RIL AGM.

Reliance Industries Chairman Mukesh Ambani on Friday quoted Prime Minister Narendra Modi to call for ‘aatma nirbharta’ [self-reliance], noting the immediate need for India to become self-reliant “to the maximum extent”.

Addressing shareholders at the 48th Annual General Meeting, Ambani said: “Our Prime Minister, Shri Narendra Modi ji, rightly exhorted us in his Independence Day speech that the yardstick of aatma samman [self-respect] is atma nirbharata [self-reliance]. India must become self-reliant to the maximum extent in key technologies, critical industries, and other vital sectors of the global economy.”

He added: “The most important lesson this journey has taught us is that there is no substitute for economic strength. This lesson is reinforced by recent geopolitical developments.”

Ambani’s comments come at a time when the United States has levied a 50 per cent tariff on India—among the highest in the world—including a 25 per cent penalty for the country’s transactions with Russia.

India, however, has shown no signs of going back on its purchases and has called the tariffs “unfair”, emphasising that it will choose the “best deal” on buying oil to protect its 1.4 billion people.

Touching upon the geo-political dynamics, Ambani said: “I have witnessed India’s incredible journey in these five decades—from a “Third World” country to one now on the threshold of becoming a First World Power. The most important lesson this journey has taught us is that there is no substitute for economic strength. India must gain greater economic strength ─ and do so with a sense of urgency.”

The RIL chairman also called upon all businesses to work together to overcome the challenge. “The magnitude of the challenge is so large that all Indian businesses must work together with unity as a grand coalition—in the spirit of cooperation, mutual learning, and mutual support. I had made this suggestion in last year’s AGM, and I repeat it today. There is strength in unity and collective endeavour. And this is what the nation today expects from its business community.”

Disclaimer: Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

News Desk

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More

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Last Updated:August 28, 2025, 23:16 IST

IndiGo welcomed the decision, citing operational stability and continuity amid ongoing global tensions.

A photo for IndiGo flight (PTI)

The Directorate General of Civil Aviation (DGCA) has extended the deadline to IndiGo to operate two leased Boeing 777 aircraft from Turkish Airlines. However, the extension has been granted with some conditions.

“We acknowledge the acceptance of IndiGo’s request for extension to its wet lease arrangement with Turkish Airlines, subject to conditions laid down by the regulator. This approval comes at a crucial time and will help mitigate losses to Indian aviation due to geopolitical restrictions, and greatly benefit Indian travellers during the peak travel season by ensuring a seamless, direct connection to Istanbul and points beyond,” the airline said in a statement.

According to PTI sources, DGCA has granted a six-month extension, allowing the continued operation of two Turkish Airlines aircraft under a wet/damp lease arrangement until February 28, 2026.

The wet lease arrangement involves the leasing of foreign aircraft, along with crew, maintenance and insurance. The extension has been given subject to certain conditions, including that IndiGo may consider getting these or other suitable aircraft on dry lease and operate the same on their AOC (Air Operator Certificate), the sources said.

Under dry lease, only the aircraft is leased. Beyond this extension, IndiGo may either operate the India-Turkey route with their own aircraft or any other wet/damp leased aircraft compliant with existing norms, they added.

IndiGo currently uses the Turkish-leased aircraft for direct flights between Delhi, Mumbai, and Istanbul.

In a statement issued Thursday, IndiGo welcomed the decision, citing operational stability and continuity amid ongoing global tensions.

“We are thankful to the authorities for accepting our request for extension. As always, we continue to be fully compliant with the relevant regulations and conditions of extension laid down by the authorities,” the airline said.

This development comes in the backdrop of strained diplomatic ties between India and Turkiye. In May, following Ankara’s support for Pakistan and its criticism of India’s anti-terror operations, India’s aviation security regulator BCAS revoked the security clearance of Celebi Airport Services India Pvt Ltd, a Turkish ground-handling company, citing national security concerns. In response, some travel portals and associations had even issued advisories urging Indian travellers to avoid visiting Turkiye.

(With PTI inputs)

News Desk

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More

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Last Updated:August 28, 2025, 17:00 IST

Manubhai ran into trouble with the tax department after receiving cash gifts ahead of his son’s wedding.

Authorities claimed the money was part of undisclosed income. (Representative Image)

In India, cash gifts during weddings are a common tradition. But for Manubhai, receiving Rs 4.31 lakh as cash gifts before his son’s wedding led to a long tax dispute. The Income Tax Department claimed this was “unexplained income” since the money was received almost a month before the wedding, not on or after the ceremony.

Despite showing proof, including the marriage certificate, the invitation card, and even a full list of guests who gave the gifts, the tax officer was not convinced. He added the wedding gifts along with contract income, declaring a total of Rs 18.51 lakh as unexplained income.

Manubhai challenged the ruling at different levels, eventually taking the matter to the Income Tax Appellate Tribunal (ITAT), Ahmedabad. On August 12, this year, the tribunal ruled in his favour, giving him relief in the case.

How the tax dispute began

The issue started when Manubhai filed his income tax return on April 11, 2018, declaring Rs 4.61 lakh as income, which included salary and presumptive taxation income under Section 44AD from contract work. During scrutiny, the Assessing Officer noticed large cash deposits, Rs 14.2 lakh in SBI and Rs 15 lakh in HDFC Bank.

When questioned, Manubhai explained the deposits came from different sources: Rs 14.2 lakh from contract work, Rs 9 lakh from selling agricultural land, Rs 1 lakh from his wife’s account, and about Rs 5 lakh from his son’s wedding gifts and savings. However, the officer rejected his explanation for both the contract income and the cash gifts, adding them as unexplained income.

Why did the ITAT Ahmedabad rule in favour of the father?

The two-member bench of ITAT Ahmedabad, comprising Dr. BRR Kumar (Vice-President) and Siddhartha Nautiyal (Judicial Member), found no strong grounds in the tax department’s arguments. They noted that Manubhai had already offered his contract income to tax under Section 44AD and had provided full details of the parties involved. The officer, however, made no independent effort to verify those claims.

On the issue of wedding gifts, ITAT observed that Manubhai submitted a complete list of people who gave cash. The tribunal said the fact that the gifts were received before the wedding date did not automatically make them invalid.

Importantly, the Assessing Officer did not highlight any specific problems in the evidence provided. Based on this, the tribunal decided that the addition of Rs 4.31 lakh as unexplained income was not justified.

What the experts say about marriage gifts and tax rules

Mihir Tanna, Associate Director at S.K. Patodia LLP, explained that two provisions were under discussion here, presumptive taxation and wedding gifts. “As per the income tax provisions, if the assessee has opted for presumptive taxation under Section 44AD, the assessee is not required to maintain the books of account as well as the details of purchases made. The assessee is required to maintain sales only,” he was quoted as saying by The Economic Times.

On wedding gift rules, he added that gifts received in excess of Rs 50,000 are generally treated as taxable income. However, gifts received on the occasion of an individual’s marriage are exempt.

The law, though, specifies that this applies only to the marriage of the taxpayer himself, not for the weddings of children or relatives. In Manubhai’s case, the main dispute was about the source of cash deposits, not the identity of the people giving gifts.

What taxpayers should learn from this ruling

Tax experts say the case highlights the importance of proper documentation.

As quoted by The Economic Times, Dr. Suresh Surana, Chartered Accountant, explained: “This judgment highlights the importance of maintaining clear and substantiated documentation for wedding gifts, especially when questioned by the tax authorities.”

To avoid such disputes, taxpayers should keep a record of all gift-givers with names, amounts, and dates, along with the wedding invitation card and certificate.

Even though wedding gifts are exempt, it is safer to declare them under “Exempt Income” while filing returns. This ensures transparency and helps avoid unnecessary litigation.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Last Updated:August 27, 2025, 21:23 IST

Bhagwat’s remarks echoed Prime Minister Narendra Modi’s call for balancing economic self-interest with the promotion of local enterprise

Beyond economics, Bhagwat also addressed the current global situation, noting that discussions on peace, environmental sustainability, and economic inequality are ongoing, yet concrete solutions look distant. File pic/PTI

The global trade must take place and continue “voluntarily” and it should be devoid of any pressure tactics or tricks, RSS chief Mohan Bhagwat stated on Wednesday, stressing a balanced approach to global commerce. Speaking on the second day of the three-day lecture series, “100 Years of the Sangh Journey—New Horizons” in New Delhi’s Vigyan Bhawan, he elaborated on the principles of self-reliance and Swadeshi.

“International trade should happen only voluntarily, not under pressure,” said Bhagwat, adding that “self-reliance” is the key to the way forward for India.

“Aatmnirbharata (self-reliance) or Swadeshi is important. Being self-reliant does not mean stopping imports. The world functions because it is interdependent. So, export-import will continue. However, there should be no pressure in it. Swadeshi means not importing goods that we already have or can easily manufacture. We should always support local businesses. Bringing outside goods hurts local vendors,” Bhagwat explained.

The RSS chief’s remarks echoed Prime Minister Narendra Modi’s call for balancing economic self-interest with the promotion of local enterprise, highlighting the need for trade policies free from coercion.

Beyond economics, Bhagwat also addressed the current global situation, noting that discussions on peace, environmental sustainability, and economic inequality are ongoing, yet concrete solutions look distant. “For this, we must think and deliberate authentically, bring sacrifice into life, and develop balanced intellect and dharmic vision,” he said, emphasising that thoughtful action and moral grounding are essential to meaningful global change.

Mentioning India’s international conduct, Bhagwat lauded the nation’s restraint in the face of adversities. “We have always exercised restraint even in our losses. Those who caused us harm were helped in their crisis. Enmity arises from individual and national ego, but beyond ego is our Bharat or Hindustan.”

He urged Indian society to serve as a model for the world, demonstrating that ethical behaviour and measured response can build credibility and trust.

Bhagwat further underlined that the Sangh’s reputation is rooted in consistent service and societal commitment. “What the Sangh says, society listens to,” he stated, reiterating that the RSS’s credibility has been earned over decades through steadfast dedication to social welfare.

By linking self-reliance with ethical engagement, Bhagwat highlighted a vision where India not only strengthens its domestic economy but also sets a global example. The stress is on voluntary participation in trade, local empowerment, and moral leadership, creating a framework where economic growth and societal responsibility go hand in hand.

Madhuparna Das

Madhuparna Das, Associate Editor (policy) at CNN News 18, has been in journalism for nearly 14 years. She has extensively been covering politics, policy, crime and internal security issues. She has covered Naxa…Read More

Madhuparna Das, Associate Editor (policy) at CNN News 18, has been in journalism for nearly 14 years. She has extensively been covering politics, policy, crime and internal security issues. She has covered Naxa… Read More

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Last Updated:August 27, 2025, 17:11 IST

Kirti Vardhan Singh said that tariffs won’t hinder India’s economic growth while highlighting that its trade with African nations has surpassed the $100 billion milestone.

At the India-Africa Conclave, Union Minister Kirti Vardhan Singh said tariffs were unfair but hailed booming trade and investments that bind the two regions closer. (IMAGE: @FollowCII/X)

Union Minister of State for External Affairs Kirti Vardhan Singh on Wednesday described the recent tariff measures imposed on India as “highly unjustified and unfair,” stressing that New Delhi must prioritise actions that “serve our national interest best.” Singh was speaking with CNN-News18 on the sidelines of the 20th CII India-Africa Business Conclave in the national capital.

“The reasons cited for imposing these tariffs on our country apply equally to many others who continue importing energy from the same sources, yet they face no such restrictions,” Singh said. “This is a clear case of unjustified and discriminatory tariff imposition.”

Singh pointed out that India will always focus on ties that are mutually beneficial and take steps that serves its national interest.

“In this changing landscape, we must focus on what serves our national interest best, which is fostering linkages that are mutually beneficial rather than exploitative.”

Despite these challenges, the minister highlighted India’s economic resilience. “Our economy remains strong, capable of withstanding pressures and continuing on the path of growth,” he said.

Singh also underscored the importance of India-Africa ties. He highlighted that decision by PM Modi was to include the African Union in the G20 in a bid to give Africa its rightful voice on the global stage was a landmark decision as G20 host in 2023.

India-Africa trade has crossed USD 100 billion, with New Delhi emerging as one of the top five investors on the continent, Singh highlighted.

“India has extended concessional loans worth over USD 12 billion and USD 700 million in grant assistance for projects across Africa, apart from offering 50,000 scholarships for African youth, of which more than 42,000 have already been utilised.”

“Our trade with Africa goes back hundreds of years. It is a relationship built on trust and continuity. Africa has immense potential and resources; India sees the continent as a natural partner. The Indian diaspora has not only settled in Africa but has deeply integrated into local societies,” he said.

Siddhant Mishra

Siddhant Mishra is a Senior Special Correspondent at CNN-News18, covering foreign affairs and international relations. With over 12 years of experience in journalism, he has also reported extensively on crime, …Read More

Siddhant Mishra is a Senior Special Correspondent at CNN-News18, covering foreign affairs and international relations. With over 12 years of experience in journalism, he has also reported extensively on crime, … Read More

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Last Updated:August 26, 2025, 20:44 IST

Donald Trump Tariffs: Trump’s 50 percent tariffs on Indian imports, sharply raises US prices on textiles, jewellery, shrimp, chemicals and more, impacting consumers, manufacturers.

Donald Trump India Tariffs: A person shops in a supermarket as inflation affected consumer prices in Manhattan, New York City, US. (IMAGE: REUTERS FILE)

Donald Trump India Tariffs: The United States is bracing for a wave of price increases as US President Donald Trump’s administration is set to impose sweeping tariffs on Indian imports to the country, doubling duties to 50 per cent in retaliation for New Delhi’s purchase of Russian oil. The move, covering $48 billion worth of Indian goods, is one of the most punitive tariff actions US has ever taken against an ally.

The sectors most affected include textiles, gems and jewellery, shrimp, carpets, handicrafts, furniture, leather, organic chemicals and machinery.

That means everyday items for American households, ranging from linens, rugs and apparel to jewellery, mattresses and shrimp, will now carry a sharply higher price tag. Diamonds, gold jewellery and household furnishings will attract more than 50 per cent duty, while knitted clothes face nearly 64 per cent.

A Moneycontrol report said that apparel and home textiles face particularly sharp hikes: knitted clothing could see duties near 64 percent, woven garments around 60 percent, and bed linens and towels roughly 59 percent.

Americans who love jewellery will also feel the pinch as diamonds, gold, and other Indian-made ornaments are now subject to more than 52 percent in import duties. Also burdened are leather goods and footwear, a staple in US wardrobes, the news report by the financial news outlet said.

Even non-fashion categories aren’t spared—organic chemicals now face duties up to 54 percent, while mechanical appliances and engineering goods cross the 51 percent threshold, making mid-range equipment markedly less affordable for American buyers. Seafood such as shrimp, another Indian export, will also become costlier and on top of existing anti-dumping duties, the new tariff will push the total levy beyond 33 percent.

Blow to US Manufacturers Too

Tariffs were pitched as a way to protect American manufacturing jobs, but survey data from the Dallas Fed, accessed by broadcaster CNN, shows the opposite effect. Nearly 70 per cent of manufacturers report being hurt by higher tariffs this year, with many passing on costs to industrial and military clients. One Texas furniture maker told the Fed, “We are probably going out of business within 90 days.”

Postal services in Europe and Asia are already suspending shipments to the US after the scrapping of a tariff exemption on low-value packages. That means fewer options for American online shoppers relying on e-commerce platforms like Etsy, Shopify and TikTok Shop.

American Consumers Caught in the Middle

The tariff escalation, which leaves India facing one of the highest US import duties alongside Brazil, may shift supply chains toward competitors like Vietnam, Bangladesh and Mexico. But for US shoppers, the immediate result is fewer choices and higher prices.

“Tariffs will raise input costs for American companies, strain profit margins, and disrupt supply chains with long-term inefficiencies even if the policy is reversed later,” said Professor Trilochan Tripathy of XLRI Jamshedpur while speaking to news agency PTI.

In the short term, American households are set to pay more for Indian goods they rely on.

Economists speaking to the US broadcaster CNN called it “sneakflation”, defining it as small, incremental price hikes that quietly eat into household budgets.

For lower-income Americans, already living paycheck to paycheck, such gradual increases mean tough choices: skipping groceries to pay utility bills or cutting back on healthcare to afford children’s clothes.

From toys and sporting goods to furniture and shrimp cocktails, tariff-driven inflation is expected to spread over the next year. The Federal Reserve Bank of Atlanta noted that both tariff-exposed and non-exposed US businesses plan to raise prices in 2025, raising fears of another inflationary impulse.

Shankhyaneel Sarkar

Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev…Read More

Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev… Read More

Location :

Washington/New Delhi

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Last Updated:August 26, 2025, 16:51 IST

Form-16 is a document detailing an individual’s salary, taxable income, and tax deducted. It can be downloaded conveniently from the TRACES portal

Employers are required to submit Form-16 by June 15 each year, with a fine of Rs 500 per day for non-compliance. (Representative/Shutterstock)

The deadline for filing Income Tax Returns (ITR) is nearing, and salaried employees preparing their ITR for the financial year 2024-25 must ensure they have Form-16. The Income Tax Department has extended this year’s filing deadline to September 15, 2025.

Form-16 is a document containing detailed information about an individual’s salary, taxable income, and tax deducted. It can be downloaded from the TRACES portal. The following is a guide on how to obtain Form-16 and key points to consider during the process

Two Parts Of Form-16

Form-16 consists of two parts. Part-A includes information about an individual’s salary and the tax deducted from it. Part-B details various components of the salary such as allowances, facilities, exemptions, and tax. This form is prepared based on the tax return (Form 24Q) filed quarterly by your employer on the TRACES portal.

Where To Get Form-16?

Downloading Form-16 is a straightforward process. Users must visit the TRACES website and log in using their user ID, password, and TAN number. After logging in, the download tab allows selection of the Form-16 option, which can be obtained for one or multiple PANs. The details of the authorised person and the receipt or token number of the TDS return for the fourth quarter must be entered, along with PAN and tax information for three employees. Once the download request is submitted, Form-16 is typically ready within 24 to 48 hours. The form is provided in .txt format and must be converted to PDF using TRACES’s PDF converter tool before being signed digitally or manually.

Important Points To Remember

Employers are required to submit Form-16 by June 15 each year, with a fine of Rs 500 per day for non-compliance. Employees receiving benefits such as car or house allowances must be provided Form 12BA along with Form-16, detailing these perks.

Individuals who have worked at multiple organizations within a year must obtain separate Form-16 from each employer and include them in their ITR. Form-16 serves as proof of income and is useful for financial processes like loan applications. It should be cross-checked with Form 26AS or the Annual Information Statement, and any discrepancies must be corrected promptly.

Why Is Form-16 Necessary For Non-Tax Payers?

Form-16 is essential even for individuals who do not pay tax, as it records their income and facilitates ITR filing. The document includes the certificate number, TRACES watermark, details of tax deducted and deposited each quarter, as well as the employee’s PAN and the employer’s TAN. It also outlines the salary provided by the company and any deductions claimed under sections 80C, 80D, or other applicable provisions.

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Last Updated:August 25, 2025, 20:29 IST

Dream11 has shut down all its paid gaming contests following the government’s recent ban on real-money gaming (RMG)

Dream11 CEO Harsh Jain. (Image via X/@harshjain85)

Harsh Jain, Co-founder and CEO of Dream Sports, has said that the company will not challenge the government’s ban on real-money gaming (RMG), stating that while the move has dealt a major blow to the industry, the company will continue to comply with the law.

Dream11, India’s largest fantasy sports platform and until recently the jersey sponsor of the Indian cricket team, shut down all its paid gaming contests after the Promotion and Regulation of Online Money Gaming Bill, 2025 was passed by both houses of Parliament last week.

“I don’t think this is personal. This is business, and the government has to make decisions for the country,” Jain said in an interview with Storyboard18, adding that Dream11, despite losing nearly 95% of its revenue due to the ban, respects the decisions made by lawmakers in a democracy.

“India is a democracy, and lawmakers decide what’s best. As a businessman, I want to protect my company and industry, but we’ve always been law-abiding,” he added.

He explained that while Dream11’s business model was constitutionally protected earlier, the company immediately complied with the new law even before the ban was formally signed. “And I can say clearly: Dream11 will not challenge this law in court,” he said.

When asked if the company was walking away from any legal fight, Jain Jain noted, “Not at all. It’s about respecting the law. When GST was raised, we complied without going to court, even though it hurt us. Similarly, today’s law prohibits RMG, so we won’t challenge it.”

“However, if someone tries to retroactively claim our past operations were illegal gambling, we will defend ourselves, because back then we were constitutionally protected,” the CEO clarified.

Meanwhile, following the passage of the bill, Dream11 also ended its sponsorship deal with the BCCI. On Monday, BCCI secretary Devajit Saikia confirmed the development, stating that the board “will not indulge with any such organisations” in future.

“BCCI and Dream 11 are discontinuing their relationship after the Promotion and Regulation of Online Gaming Bill, 2025, was passed. BCCI will ensure not to indulge with any such organisations ahead in future,” Saikia said.

News Desk

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More

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Last Updated:August 25, 2025, 17:05 IST

Experts warn there is no straightforward answer. Gold prices could stay volatile through September, with multiple global events pulling them in different directions

If the Fed cuts rates as expected, gold prices could edge up further. But if tariffs rise or inflation worsens, the Fed may hold off, potentially stabilising prices. (AI-generated image)

As September approaches, investors and buyers in the country are keeping a close watch on gold prices. With major global economic events lined up, especially the US Federal Reserve meeting on September 16-17, the big question is: Will gold get costlier, or are prices likely to cool down?

Gold has always been more than just a metal for Indians. It is a cultural symbol of wealth and security, something families invest in during weddings, festivals, and times of uncertainty. Globally, too, gold is viewed as a safe-haven asset, a fallback when markets turn volatile. So, when its prices fluctuate, it impacts everyone from large-scale investors to middle-class families planning to buy jewellery for Diwali.

Why September Matters For Gold Prices

The US Federal Reserve (Fed) meeting is the key event that traders are keenly watching. Experts say gold prices in the short term will depend on:

• US economic data: Inflation, job growth, and economic recovery numbers.

• Geopolitical factors: The Russia–Ukraine peace talks and global trade tensions.

• Interest rate decisions: Any rate cut or delay by the Fed can directly influence gold prices.

Currently, gold prices (24-carat/ 10 gm) in Mumbai are Rs 1,01,637, Hyderabad around Rs 1,01,510, Delhi Rs 1,01,783, and Bengaluru Rs 1,01,625.  But analysts warn this could change quickly based on the Fed’s decisions.

What Experts Are Saying

Pratamesh Mallya, research analyst at Angel One, says there is growing optimism that the Fed will cut interest rates in September, with a second cut likely by the end of the year.

Such rate cuts often weaken the US dollar, making gold cheaper for investors holding other currencies, and this usually pushes gold demand and prices higher.

At the Jackson Hole Symposium, Fed Chair Jerome Powell hinted at the possibility of a rate cut but added a caveat: If US tariffs under the Donald Trump administration push domestic inflation higher, the Fed could delay the cut to avoid worsening price pressures.

Meanwhile, Manav Modi, a precious metals analyst at Motilal Oswal Financial Services, points out that global uncertainty—be it geopolitics or trade tariffs—means gold will continue to attract buyers looking for safety.

The Factors Driving Gold Prices

US Fed Decisions: A rate cut lowers the opportunity cost of holding gold, making it attractive.

Dollar Strength: A weaker dollar usually pushes gold prices higher.

Global Tensions: Wars, trade disputes, and sanctions often drive investors toward safe assets like gold.

Inflation: High inflation generally boosts gold demand as a hedge.

But experts warn there is no straightforward answer. Gold prices could stay volatile through September, with multiple global events pulling them in different directions.

What This Means For Indian Buyers

For Indian households planning to buy gold this festive season, analysts suggest keeping an eye on global cues before making big purchases.

If the Fed cuts rates as expected, gold prices could edge up further. But if tariffs rise or inflation worsens, the Fed may hold off, potentially stabilising prices.

In short, September will be a make-or-break month for gold investors.

News Desk

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More

The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More

Gold has always been more than just a metal for Indians. It is a cultural symbol of wealth and security, something families invest in during weddings, festivals, and times of uncertainty. Globally, too, gold is viewed as a safe-haven asset, a fallback when markets turn volatile. So, when its prices fluctuate, it impacts everyone from large-scale investors to middle-class families planning to buy jewellery for Diwali.

Why September Matters For Gold Prices

The US Federal Reserve (Fed) meeting is the key event that traders are keenly watching. Experts say gold prices in the short term will depend on:

• US economic data: Inflation, job growth, and economic recovery numbers.

• Geopolitical factors: The Russia–Ukraine peace talks and global trade tensions.

• Interest rate decisions: Any rate cut or delay by the Fed can directly influence gold prices.

Currently, gold prices (24-carat/ 10 gm) in Mumbai are Rs 1,01,637, Hyderabad around Rs 1,01,510, Delhi Rs 1,01,783, and Bengaluru Rs 1,01,625.  But analysts warn this could change quickly based on the Fed’s decisions.

What Experts Are Saying

Pratamesh Mallya, research analyst at Angel One, says there is growing optimism that the Fed will cut interest rates in September, with a second cut likely by the end of the year.

Such rate cuts often weaken the US dollar, making gold cheaper for investors holding other currencies, and this usually pushes gold demand and prices higher.

At the Jackson Hole Symposium, Fed Chair Jerome Powell hinted at the possibility of a rate cut but added a caveat: If US tariffs under the Donald Trump administration push domestic inflation higher, the Fed could delay the cut to avoid worsening price pressures.

Meanwhile, Manav Modi, a precious metals analyst at Motilal Oswal Financial Services, points out that global uncertainty—be it geopolitics or trade tariffs—means gold will continue to attract buyers looking for safety.

The Factors Driving Gold Prices

US Fed Decisions: A rate cut lowers the opportunity cost of holding gold, making it attractive.

Dollar Strength: A weaker dollar usually pushes gold prices higher.

Global Tensions: Wars, trade disputes, and sanctions often drive investors toward safe assets like gold.

Inflation: High inflation generally boosts gold demand as a hedge.

But experts warn there is no straightforward answer. Gold prices could stay volatile through September, with multiple global events pulling them in different directions.

What This Means For Indian Buyers

For Indian households planning to buy gold this festive season, analysts suggest keeping an eye on global cues before making big purchases.

If the Fed cuts rates as expected, gold prices could edge up further. But if tariffs rise or inflation worsens, the Fed may hold off, potentially stabilising prices.

In short, September will be a make-or-break month for gold investors.

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Last Updated:August 24, 2025, 14:24 IST

Odisha will play a central role in making India a global economic leader, says Chief Minister Mohan Charan Majhi.

The hub has been launched by the Odisha government in collaboration with GFTN, National University of Singapore, and the Asian Institute of Digital Finance.

Odisha Chief Minister Mohan Charan Majhi has launched an Integrated Global Financial Technology Capability Hub, called the BharatNetra Initiative, in Bhubaneswar. Describing it as a transformative step that will shape the future of finance in Odisha, Majhi said it would strengthen India’s global leadership in the digital economy.

“Odisha will play a central role in making India a global economic leader,” he added.

The hub has been launched by the Odisha government in collaboration with Global Finance & Technology Network Singapore (GFTN), the National University of Singapore, and the Asian Institute of Digital Finance, according to an official statement.

Union Education Minister Dharmendra Pradhan, Odisha Electronics & IT Minister Mukesh Mahaling, and Global Finance & Technology Network (GFTN) CEO Sopnendu Mohanty were also present at the event.

Speaking on the occasion, Majhi said the initiative would skill more than 7,000 students across all 30 districts of Odisha. It will run certification programmes designed by the Asian Institute of Digital Finance at the National University of Singapore.

The chief minister said the collaboration had been forged during the historic visit of Singapore President Tharman Shanmugaratnam to Odisha in January this year.

Majhi added that the state would nurture start-ups and entrepreneurs by establishing a dedicated Centre of Excellence within the hub. In addition, the project will also establish a Global Capability Centre (GCC), which will act as a strong foundation for attracting global financial institutions and new investments into Odisha.

Highlighting efforts to improve digital infrastructure, Majhi announced that a cable landing station connecting Bhubaneswar to Singapore is being established.

Noting that Odisha is the first state to formulate an AI Policy, he said preparations are underway to launch a dedicated FinTech Policy and GCC Policy to attract global investments.

The CM further said that the initiative is aligned with the vision of the Prime Minister, who during his Independence Day speech this year had envisioned skilling three crore youth with an investment of ₹1 lakh crore. “Odisha is ready to contribute to this grand vision,” he remarked.

Underscoring the state’s talent pool, he said Odisha produces around 1.8 lakh graduates annually in engineering, polytechnics, and IT streams, along with skilled youth from 950 ITIs.

Emphasising the importance of research, Majhi noted that in addition to skilling, Odisha has established a Deep Neural Network Laboratory and other Centres of Excellence. “Our vision is to make Odisha the ‘Research Capital of the East’,” he underlined.

He also thanked the Prime Minister for central government approval of two semiconductor fabrication units in Odisha. “Semiconductors are the building blocks of the digital economy, and Odisha is proud to play a leadership role in this national mission,” he said.

On the occasion, Majhi launched the BharatNetra Hackathon website, and a GCC+ overall programme was also announced.

Union Education Minister Dharmendra Pradhan said Odisha’s vision aligns with India’s national priority of skilling youth for the global digital economy. “The BharatNetra Initiative will not only open pathways for employment and entrepreneurship but also strengthen India’s leadership in financial inclusion and innovation,” he added.

Odisha Minister for Electronics & IT, Dr Mukesh Mahaling, said the state is emerging as India’s innovation frontier, outpacing national growth and securing over $23 billion in new investments this year. “With progressive IT and AI policies, we are creating an ecosystem where advanced infrastructure, world-class talent, and start-up energy converge,” he added.

GFTN Group CEO Sopnendu Mohanty said: “The BharatNetra Initiative and the Integrated Global Financial Technology Capability Hub will redefine Odisha’s role as India’s strategic gateway to the Asia-Pacific financial technology corridor. This partnership with GFTN will empower talent, foster innovation, and connect Odisha to the world’s most dynamic financial ecosystems.”

It may be noted that the I-GFTCH in Odisha will focus on four pillars: Global Learning, Global Mindshare, Global Innovation, and Global Capability Hub — developed in partnership with Singapore-based GFTN.

Over the next five years, the initiative will equip 7,000 students across the state with critical skills in technology, regulation, and business for careers in financial technology.

The programme has already selected its first batch of 375 students from more than 3,800 applicants representing over 60 colleges across all districts of Odisha. The first batch is set to graduate by January 2026.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 24, 2025, 15:41 IST

In terms of sales bookings, Bengaluru-based Prestige Estates Projects Ltd emerges as the leading listed player in the April-June quarter of FY26, with pre-sales of Rs 12,126 crore.

DLF Ltd, the country’s biggest realty firm in terms of market capitalisation, stood at the second position, with pre-sales of Rs 11,425 crore, driven by the Gurugram luxury home market.

India’s 28 listed real estate companies have together sold properties worth nearly Rs 53,000 crore in the April-June quarter, with Prestige Estates achieving the highest sales bookings. According to the data compiled from regulatory filings, the total combined sales bookings of these 28 listed realtors stood at Rs 52,842 crore in the first quarter of the current financial year.

In terms of sales bookings, Bengaluru-based Prestige Estates Projects Ltd emerged as the leading listed player in the April-June quarter of FY26, with pre-sales of Rs 12,126.4 crore.

DLF Ltd, the country’s biggest realty firm in terms of market capitalisation, stood at the second position, with pre-sales of Rs 11,425 crore, driven by the Gurugram luxury home market.

Mumbai-based Godrej Properties clocked sales bookings of Rs 7,082 crore, while Lodha Developers sold properties worth Rs 4,450 crore during the June quarter.

Delhi-NCR-based Signature Global achieved sales bookings of Rs 2,640 crore in the June quarter.

Notably, these top five developers contributed 71 per cent to the total combined sales bookings achieved by the 28 listed realty firms.

The bulk of these sales bookings pertained to residential properties, whose demand has surged post-COVID pandemic. Big branded real estate developers have benefited most from this strong revival, both in volume and value terms, in India’s housing market, as homebuyers have become risk-averse.

Among other listed players, Bengaluru-based Sobha Ltd and Delhi-based Omaxe Ltd sold properties worth Rs 2,079 crore and Rs 2,001 crore, respectively.

Mumbai-based Oberoi Realty Ltd and Kalpataru Ltd posted sales bookings of Rs 1,639 crore and Rs 1,249 crore, respectively.

Bengaluru-based Puravankara Ltd and Brigade Enterprises Ltd sold properties worth Rs 1,124 crore and Rs 1,118 crore, respectively.

Sales bookings of Mumbai-based Keystone Realtors, which markets under the Rustomjee brand, stood at Rs 1,068 crore.

In the below-Rs 1,000 crore pre-sales category, there were many players.

Mumbai-based Sunteck Realty sold properties worth Rs 657 crore, while Pune-based Kolte-Patil Developers Ltd clocked Rs 616 crore in pre-sales numbers.

Mahindra Lifespace sold properties worth Rs 449 crore, and Bengaluru-based Shriram Properties Ltd pre-sales stood at Rs 441 crore.

Sales bookings of Delhi-based Ashiana Housing Ltd were Rs 430.97 crore.

Mumbai-based Aditya Birla Real Estate Ltd and Raymond Realty Ltd reported pre-sales at Rs 422.5 crore and Rs 306 crore, respectively.

Delhi-NCR-based TARC Ltd sold properties worth Rs 225 crore, while Lucknow-based Eldeco Housing & Industries Ltd did Rs 221.11 crore worth pre-sales and Max Estates Ltd nearly Rs 220 crore.

Bengaluru-based Embassy Developments Ltd sold properties worth Rs 198 crore in the April-June period of this fiscal.

Ahmedabad-based Arvind Smartspaces Ltd’s sales bookings were Rs 175 crore.

Sales bookings of Mumbai-based Arihant Superstructures Ltd, Arkade Developers Ltd, Ajmera Realty & Infrastructure Ltd and Suraj Estate Developers Ltd stood at Rs 150.6 crore, Rs 142 crore, Rs 108 crore and Rs 81 crore, respectively.

Some of the listed players have not reported their sales bookings numbers, an important metric to evaluate their performances.

Revenue recognition of sales bookings achieved by these developers takes time, as it is linked to the completion of real estate projects.

Real estate developers, which are not listed on stock exchanges, generally do not report their quarterly and annual sales bookings.

During the 2024-25 financial year, the country’s 26 major listed real estate firms sold properties valuing Rs 1.62 lakh crore.

Godrej Properties Ltd was the largest player last fiscal in terms of sales bookings as it sold properties worth nearly Rs 30,000 crore.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

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Last Updated:August 23, 2025, 21:43 IST

Vikram Solar IPO saw 54.63 times subscription, listing on BSE and NSE expected at Rs 373 with a 12.35 percent premium. FY25 revenue rose 37 percent to Rs 3,459.53 crore.

News18

Vikram Solar IPO GMP: The initial public offering of Vikram Solar Limited, a solar photovoltaic modules manufacturer, opened between August 19, 2025 to August 21, 2025. The mainboard issue received a total bids for 2,47,81,57,965 shares, against the offered shares of 4,53,61,650, reflecting a total subscription of 54.63 times.

The allotment of unlisted shares of Vikram Solar IPO was completed on Friday, August 22, 2025. Investors who have been allotted the lot/lots are looking forward to the listing on the BSE and NSE on Tuesday, August 26, 2025. Meanwhile, they are keenly watching the GMP of Vikram Solar IPO to gauge the expected listing.

Vikram Solar IPO Listing Price Prediction

Shares of Vikram Solar IPO are trading at Rs 373 apiece, over the cap of the price band of Rs 332 apiece. It reflects a GMP of Rs 41, with the expected listing at 12.35 per cent premium.

How To Check Allotment Status Of Vikram Solar IPO

Method 1: Through Registrar (MUFG Intime India Pvt. Ltd.)

1. Visit the registrar’s website: MUFG Intime India IPO allotment page.

2. Select Vikram Solar Limited from the dropdown list of IPOs.

3. Choose one of the identification options:

   • PAN number

   • Application number

   • DP/Client ID (with NSDL/CDSL details)

4. Enter the details correctly, fill the captcha, and click Submit.

5. The allotment status will be displayed on the screen.

 Method 2: Through BSE Website

1. Go to the BSE IPO Allotment page.

2. Select Equity under issue type.

3. From the dropdown, select Vikram Solar Limited.

4. Enter your Application Number or PAN.

5. Click Search to view your allotment status.

Vikram Solar IPO: More Info

The IPO is a combination of a fresh issue of 4.52 crore shares worth Rs 1,500 crore and an offer for sale (OFS) of 1.75 crore shares aggregating to Rs 579.37 crore. The price band has been fixed at Rs 315-332 per share, with a lot size of 45 shares. At the upper price band, the minimum investment for retail investors is Rs 14,940.

The company has already raised Rs 620.81 crore from anchor investors on August 18 by allotting 1.87 crore shares. Half of these will be under a 30-day lock-in, while the rest will be locked in for 90 days.

Proceeds from the fresh issue will be used to partially fund capital expenditure for Phase-I (Rs 769.73 crore) and Phase-II (Rs 595.21 crore) projects, besides meeting general corporate purposes. JM Financial is the book running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

For FY25, the company reported a revenue of Rs 3,459.53 crore, up 37% year-on-year, while net profit surged 75% to Rs 139.83 crore. Post-issue, promoters’ holding will reduce from 77.64% to 63.11%.

With a market capitalization of about Rs 12,009 crore at the IPO price, Vikram Solar is betting big on India’s clean energy transition and rising demand for high-efficiency solar modules.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 23, 2025, 15:33 IST

India’s office real estate surged 40 percent in H1 2025, led by Bengaluru and Pune.

News18

India’s commercial office real estate sector achieved exceptional growth in the first half of 2025, with net office leasing surging 40% year-on-year to 26.8 million square feet across the top 7 cities. Bengaluru maintained market leadership with 6.55 million square feet of absorption, while Pune emerged as the fastest-growing market with 188% growth.

Peush Jain, MD – Commercial Leasing & Advisory, ANAROCK Group, says, “New office supply increased 25% to 24.51 million square feet, creating balanced market dynamics. Vacancy rates improved marginally to 16.3%, and average rentals grew 4% to INR 88 per square foot per month. The IT-ITES sector dominated with 29% market share, followed by co-working spaces at 22%.”

Market fundamentals remain healthy, supported by Global Capability Centre expansion and sustained corporate confidence, positioning the sector for continued growth through 2025.

• Net Office Absorption: 26.8 million square feet in H1 2025, representing a robust 40% year-on-year increase from 19.08 Mn sq ft in H1 2024

• Top Markets: Bengaluru leads with 64% growth, Pune rockets 188% in office absorption & 533% in new supply

• New Office Supply: 24.51 Mn sq ft delivered in H1 2025, marking a 25% growth compared to 19.65 Mn sq ft in the previous year

• Average Office Rentals: INR 88/sq ft per month in H1 2025, reflecting a steady 4% increase and demonstrating stable pricing dynamics despite strong demand

• Office Vacancy: Dips to 16.3%, rentals rise 4% amid strong demand in India’s top cities

• Tech Sector:  Drives 29% of leasing share, co-working & BFSI also strong performers

• Market Vacancy Rate: 16.3% in H1 2025, showing marginal improvement from 16.7% in H1 2024, indicating healthy market equilibrium

• Large Transaction Dominance: 57% of all office deals exceeded 0.1 Mn sq ft, up from 52% in H1 2024, reflecting corporate preference for larger consolidated spaces

• Global Capability Centres: GCCs drove office demand in H1 2025, leasing 5.45 Mn sq ft in Bengaluru, 2.81 Mn sq ft in NCR, 2.77 Mn sq ft in Pune, 0.95 Mn sq ft in Chennai, and 1.93 Mn sq ft in Hyderabad

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 22, 2025, 23:37 IST

The Reserve Bank of India is selling three Lonavala bungalows near Lonavala Lake for Rs 6.55 crore, with bids open until September 9, 2025, managed by Cushman and Wakefield India.

Representative Image. (AI Generated)

The Reserve Bank of India (RBI) has put three bungalows in Lonavala up for sale, inviting bids at a base price of Rs 6.55 crore. Situated close to the scenic Lonavala Lake, the ground-plus-one structures were earlier used by the RBI as holiday homes for its staff.

According to the tender document, the properties will be sold on an ‘as is, where is’ basis. The three bungalows are on a freehold land on a plot measuring over 3,800 sq meters.

As per the tender notice issued on August 18, 2025, the bungalows can be inspected until September 8, 2025, while the deadline for submitting bids is September 9, 2025.

The RBI has kept the reserve price for the three bungalows at Rs 6.55 crore and an earnest money deposit (EMD) for submission along with the bids at Rs 10 lakh, the Hindustan Times reported.

The tender notice noted that the prospective buyers will be responsible for clearing all pending taxes with the local authorities.

According to sources, the RBI wants to sell the bungalow to liquidate its assets.

In the tender notice, the RBI stated that it has appointed property consultant Cushman and Wakefield India to conduct and manage the sale process through sealed offer bidding.

Lonavala, a hill station located 100 km from Mumbai and 60 km from Pune, is one of the most frequented hill stations during the weekends, especially during the monsoon and winter.

Lonavala is largely known as a second-home destination, attracting buyers interested in villas, farmhouses, and bungalows. Most second-home investors in the area come from Mumbai, Pune, and Gujarat, while many Non-Resident Indians (NRIs) have also purchased properties there.

Local brokers say villa prices in Lonavala can exceed Rs 15,000 per sq ft, with 3–4 BHK villas and serviced apartments typically priced upwards of Rs 2–3 crore. The gross rental yield in the area is estimated at around 10%–15%.

Location :

Lonavala (Lonavla), India, India

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Last Updated:August 22, 2025, 16:25 IST

Avadhut Sathe is a financial influencer and trading educator known for his flamboyant teaching methods — dancing mid-lecture, using giant charts, and motivational sessions.

Avadhut Sathe.

The Securities and Exchange Board of India (Sebi) conducted a meticulously planned two-day raid on Pune-based financial influencer Avadhut Sathe’s Karjat-based academy from August 20 to 21, according to Business Standard. The operation, led by a deputy general manager and supported by prior court permissions and reconnaissance, resulted in the confiscation of digital devices, trading records, and other materials for forensic analysis.

Sathe has come under Sebi’s lens due to unregistered advisory services, according to NDTV Profit citing sources. It added that illegal gains from his operations is likely to be in the range of Rs 400-500 crore

This move is part of a broader Sebi crackdown on unregistered “finfluencers” providing investment advice under the guise of education, and potentially engaging in manipulative practices such as promoting penny stocks.

Sebi has emphasised that giving stock recommendations or guaranteed returns without proper registration is strictly prohibited — even under educational pretences.

Who Is Avadhut Sathe?

Avadhut Sathe is a financial influencer and trading educator known for his flamboyant teaching methods — dancing mid-lecture, using giant charts, and delivering motivational stock market sessions. He heads the Avadhut Sathe Trading Academy (ASTA) and commands a strong retail following through his YouTube channel with over 900,000 subscribers.

Sathe claims to have three decades of trading experience and has turned his ASTA programmes into a national training network.

ASTA did not just stop at training. Sathe also advised students on penny stocks and provided other tips over private WhatsApp groups, according to Moneycontrol.

Sathe’s dramatic rise — marked by theatrical teaching, live stock market sessions, and motivational coaching — had earned him popularity but also regulatory attention. Sebi’s intensified oversight reflects increasing concern about retail investors being misled by unregulated influencers.

Avadhut Sathe Case: All You Need To Know

The operation was meticulously planned, with Sebi securing court approvals beforehand and conducting surveillance to track activity patterns. Authorities seized digital devices, trading records, and other relevant data for forensic examination, according to sources cited by Moneycontrol.

Although Sebi has not publicly named anyone, Kamlesh Chandra Varshney, Sebi’s whole-time member, confirmed at a FICCI event that the regulator had executed “a major search operation targeting a prominent figure in this industry.” He said the action is part of Sebi’s ongoing efforts to crack down on market influencers who mislead retail investors under the pretext of education.

Varshney highlighted that promising guaranteed returns, providing trading calls in classroom settings, and using live trading data without proper Sebi registration is illegal, as reported by CNBC-TV18. He added that the regulator is stepping up enforcement against such practices.

Media reports indicate that Sebi is also investigating claims that some trading academies may be colluding with market operators to manipulate penny stocks, with influencers allegedly promoting these low-value shares during training sessions to artificially boost prices.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 21, 2025, 19:34 IST

Kenstar launched India’s first 5 Star BEE-rated air coolers, offering up to 35 percent energy savings and a five-year warranty, aiming for 45 percent growth.

Kenstar Bets on Efficiency: New Range of 5-Star Coolers Promises 30–35% Power Savings

Kenstar, the consumer appliances manufacturer, has launched India’s first range of 5-star BEE-rated energy-efficient air coolers. The new range was unveiled on Thursday in Gurugram, Haryana, where the company’s headquarters is located.

The line-up is designed to cater to diverse customer segments, with prices starting at Rs 6,000 for entry-level models and going up to Rs 20,000 for premium variants.

Under the ‘Power of 5’, these coolers come with BLDC Maxx Technology, Quadra Flow Technology for powerful air delivery, Hydro Dense Mesh Honeycomb Cooling Pads for better cooling and durability, and a Heavy Duty Double Ball Bearing Motor for long-lasting performance.

This new range of air coolers offers the perfect blend of energy savings and modern technology, giving customers superior cooling while also reducing electricity bills.

Speaking at the launch event, Sunil Jain, CEO of Kenstar, explained the timing of the launch despite the summer season being over. “Generally, coolers are a summer product, but for us July to December is crucial. Nearly 50% of our annual sales come during this period. That is why we start production in July and introduce new technology and product ranges in the market,” he said.

“This new range of coolers, which are energy efficient laced with cutting-edge technology, can cut down the customers’ electricity bills by 30-35 per cent in comparison to normal coolers,” said Jain during the conversation.

In addition to the efficiency upgrades, Kenstar is offering an industry-first five-year warranty on motors and pumps, the core components of a cooler. “The motor and pump are the heart of a cooler. With this warranty, consumers can enjoy peace of mind and reliability for five years,” Jain noted.

Kenstar has set an ambitious 45 per cent growth target for FY2025-26 with the existing products and the new energy-efficient range.

“The new range gives consumers not only cost savings but also a quality-oriented product. Our mantra is clear—quality with affordability,” said Jain.

Moreover, the company has already started taking bookings for the new range of energy-efficient coolers from July. “I am happy to share that we have already received bookings equal to 50% of what we sold in the entire last year,” he said.

At the event, Santosh Bhamre, National Sales Head at Kenstar, explained that affordability will not compromise efficiency. “Whether it is the entry-level model or the higher-end one, every product in this range carries the 5-star BEE rating,” he said.

On concerns about misleading claims of energy savings in the market, Bhamre stressed Kenstar’s credibility. “Some gimmicks do exist, but what we are saying translates into real benefits for customers. With BLDC Maxx technology, our coolers deliver up to 60% energy savings compared to regular coolers. And with the newly launched 5-star rated coolers, consumers can immediately save around 30% on electricity bills compared to non-rated models,” he said.

He further added that the Bureau of Energy Efficiency (BEE), a Government of India body, independently certifies these ratings. “When you see a BEE 5-star label, you can trust that the product delivers the promised efficiency,” Bhamre noted.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 21, 2025, 16:43 IST

During refuelling, both the meter reading and fuel density should be monitored. Density updates occur in the morning, and values outside the standard range must be questioned

Petrol pump employees sometimes alter the density while customers are distracted, leaving them unaware of the tampering. (Representative/PTI)

Many motorists who commute daily to work or the market by car or bike are familiar with the routine of refuelling at petrol pumps. After requesting petrol or diesel from the pump attendant, they see a zero on the meter and are reassured that everything is in order. However, this assurance often masks a deeper issue. Fraud at petrol pumps is more common than one might think.

Zero On The Meter Isn’t Enough

Merely seeing zero on the meter is insufficient. The real trick lies in the density meter, an aspect that many customers overlook. Density indicates the purity of the fuel, revealing whether the petrol or diesel being dispensed into the vehicle is adulterated.

Petrol pump machines have screens displaying data on price, quantity, and density. Yet, attendants usually only ask customers to check the zero, rarely advising them to pay attention to the density. This is where fraud can occur.

What Is Petrol Density

Density refers to the thickness or purity of the fuel. The government has established standards for this: petrol should have a density of 730 to 800 kg per cubic metre, and diesel should have a density of 830 to 900 kg per cubic metre. Deviations from these ranges may indicate adulteration, which can affect both finances and the vehicle’s engine. Employees sometimes alter the density while customers are distracted, leaving them unaware of the tampering.

Additional Precautions When Refuelling

While refuelling, it is important to monitor both the meter reading and the fuel’s density. Petrol pumps update density early in the morning as prices fluctuate daily. If the density falls outside the specified range, it should be questioned immediately. Even with stable petrol and diesel prices, vigilance can prevent financial loss. Attendants can be asked to check the density, and if there is doubt, the pump manager can be consulted.

This small step helps protect both the vehicle’s health and finances. Simply checking the meter is not enough; verifying the fuel density ensures that money is not wasted.

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Last Updated:August 20, 2025, 20:44 IST

The Jackson Hole Conference, formally known as the Jackson Hole Economic Symposium, has been organised annually since 1978 by the Kansas City Federal Reserve

Infosys, TCS and Mphasis saw gains up to 4% in a single day.

Indian IT stocks, which had been sluggish for much of the past year, suddenly lit up the markets on Wednesday, August 20. Leading players such as Infosys, TCS and Mphasis rallied sharply, with gains of up to 4% in a single day. The unexpected surge left many investors asking, what changed so suddenly for a sector that had been under pressure for months?

The trigger lies not in Bengaluru or Mumbai, but in a quiet valley thousands of miles away in Jackson Hole, Wyoming, in the United States. The annual Jackson Hole Economic Symposium, a meeting of the world’s top central bankers, economists and policymakers, has begun there this week. And the expectations from this gathering have fueled a wave of optimism for IT companies.

IT Stocks That Gained The Most

On Wednesday, the Nifty IT index posted its sharpest single-day jump in months, rising 2 percent. Here’s how the majors performed:

• Infosys rose 3.90% to Rs 1,496.20
• TCS gained 2.73% to Rs 3,098.60
• Coforge surged 3.37% to Rs 1,708.40
• Mphasis added 3.39% to Rs 2,835.50
• Persistent Systems climbed 2.07% to Rs 5,345.00
• Tech Mahindra, HCL Tech, Wipro, LTIMindtree and Oracle Financial Services also ended in the green.

Why Does Jackson Hole Matter?

The Jackson Hole Conference, formally known as the Jackson Hole Economic Symposium, has been organised annually since 1978 by the Kansas City Federal Reserve. For global markets, it has become one of the most closely watched events of the year. What makes it influential is the keynote address by the US Federal Reserve Chair, currently Jerome Powell.

Every word of the Fed Chair’s speech is dissected by investors, as it often signals the direction of interest rates in the world’s largest economy. Lower US interest rates mean cheaper borrowing costs for American companies, which in turn boost spending on outsourcing and technology services, a direct advantage for Indian IT exporters who earn the bulk of their revenues from US clients.

Powell is scheduled to speak on August 22 at this year’s symposium, which runs from August 21 to 23. Markets are already betting that the Fed will cut interest rates by 0.25% in September. That expectation alone has been enough to send Indian IT stocks rallying ahead of the event.

Historically, whenever the Fed has lowered rates, sectors such as technology and pharmaceuticals have seen the sharpest gains. With IT valuations having cooled off over the past year, many stocks were already looking attractive, and the Jackson Hole factor gave investors the final push.

Just on August 20, the IT index jumped 2 percent, its strongest showing in several months. Despite the optimism, nothing is guaranteed. If Powell signals that inflation remains high or that the US job market is still too strong, the Fed may delay any rate cut. A cautious or data-dependent tone could also keep markets on edge, leaving investors in a wait-and-watch mode.

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Last Updated:August 20, 2025, 16:09 IST

The jump in new subscribers is due to growing job opportunities, more awareness of employee benefits, and EPFO’s outreach programmes, says the labour and employment ministry.

EPFO enrolled 10.62 lakh new members in June, a 12.68% month-on-month increase and a 3.61% rise year-on-year.

The Employees’ Provident Fund Organisation (EPFO) registered its highest-ever net addition of 21.89 lakh members in June 2025, marking the strongest payroll growth since the retirement fund body began releasing such data in April 2018, according to an official statement.

The June figure reflects a 9.14% increase in net payroll additions compared to May 2025 and a 13.46% rise year-on-year from June 2024, underscoring rising employment opportunities and growing awareness of employee benefits, said the Ministry of Labour & Employment in the statement.

Surge in New Subscribers

EPFO enrolled around 10.62 lakh new subscribers in June 2025, representing a 12.68% increase over May 2025 and a growth of 3.61% compared to June 2024, it said.

“This increase in new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs,” according to the statement.

A majority of these new subscribers were young entrants, with the 18-25 age group contributing 6.39 lakh new members, or 60.2% of total enrolments. Net payroll addition in this age bracket reached 9.72 lakh, reflecting an 11.41% increase over May 2025 and a 12.15% rise from June 2024, highlighting the entry of first-time job seekers into the organised workforce.

Rejoining Members and Female Participation

Around 16.93 lakh members, who had exited earlier, re-joined EPFO in June 2025, a 5.09% increase from May 2025 and a sharp 19.65% jump from June 2024, according to the latest data.

“These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding long-term financial well-being and extending their social security protection,” the ministry said.

Female participation also showed strong momentum. EPFO added 3.02 lakh new female subscribers in June, a 14.92% increase over May. Net female payroll additions stood at 4.72 lakh, marking a 10.29% year-on-year rise, reflecting a broader shift towards an inclusive workforce.

State and Industry Trends

Maharashtra led the state-wise tally, accounting for 20% of net payroll additions. Along with Karnataka, Tamil Nadu, Gujarat, Haryana, Delhi, Uttar Pradesh, and Telangana, these states together contributed 61.5% of the total additions in June.

On an industry basis, establishments engaged in schools, construction, engineering, trading, financing, and expert services recorded significant growth. The expert services category—which includes manpower suppliers, contractors, and security services—accounted for 42.1% of the total net membership addition, with manpower suppliers alone contributing nearly half.

Continuous Update of Payroll Data

EPFO noted that the payroll data is provisional, as records are continuously updated with late filings, modifications, and exit declarations. Since April 2018, EPFO has been publishing monthly payroll data, covering membership trends from September 2017 onwards.

With June 2025 setting a new benchmark in member additions, the trend points to robust formal job creation and deeper penetration of social security coverage across India’s workforce.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 19, 2025, 19:38 IST

Analysts calculated that an investment of around $11,000 at the start of the rally would have been worth close to $1 million by the end of the day

Kaili Resources’ stock surged from 36 cents to a peak of $3.18, hitting its highest level in 52 weeks.

Investors and market watchers were left stunned on Monday after a little-known Australian mining company, Kaili Resources, saw its stock price explode by an unprecedented 8,700% in a single trading session. The rally was so dramatic that the Australian Stock Exchange (ASX) was forced to halt trading in the company’s shares to contain the frenzy.

According to market data, Kaili Resources’ stock surged from 36 cents to a peak of $3.18, hitting its highest level in 52 weeks. For perspective, the company’s 52-week low had been just $0.006, making Monday’s performance one of the most extraordinary price swings in the exchange’s recent history.

The sudden boom instantly turned modest investments into staggering sums. Analysts calculated that an investment of around $11,000 at the start of the rally would have been worth close to $1 million by the end of the day.

The trigger behind the meteoric rise was an announcement made on August 15, in which Kaili Resources confirmed it had secured government approval to drill for rare earth minerals in South Australia’s limestone coast region. The company plans to carry out exploration across three separate sites. Rare earth metals, crucial in the manufacture of high-end technology and electric vehicles, have been in rising demand globally, making the announcement a magnet for investors.

The surge, however, raised immediate concerns about speculative trading. On August 18, the company itself wrote to the exchange requesting a suspension of its stock, citing the need to issue a formal clarification over the unusual trading activity. ASX later confirmed that trading would remain suspended until Wednesday, August 20, 2025.

Market experts have cautioned that while such eye-popping returns draw headlines, the risks in sudden spikes are equally steep. “When a stock multiplies this fast without fundamental financial backing, it often attracts speculative bubbles that can burst quickly,” one analyst told Australian media.

For now, Kaili Resources’ overnight transformation has become one of the most talked-about stories in Australia’s financial markets, sparking both excitement and unease among investors worldwide.

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Last Updated:August 19, 2025, 16:37 IST

Patel Retail IPO GMP: Patel Retail IPO opens today, August 19, aiming to raise Rs 242.76 crore. The issue closes on August 21, 2025.

Founded in 2008, Patel Retail operates a chain of supermarkets under the brand “Patel’s R Mart,” largely in tier-III cities and suburban Maharashtra.

Patel Retail IPO GMP Today: Patel Retail IPO opens today, August 19 for a three-day subscription. The mainboard issue is aiming to raise Rs 242.76 crore through a mix of fresh equity issuance and an offer for sale (OFS). The issue will close on August 21, 2025.

The IPO proceeds will be used for debt repayment (Rs 59 crore), working capital needs (Rs 115 crore), and general corporate purposes.

Patel Retail IPO witnessed a strong response from investors on the first day of bidding, with the issue subscribed 6.19 times overall till 4:30 pm. In total, against 78.15 lakh shares on offer, Patel Retail IPO received bids for 4.83 crore shares.

Patel Retail IPO Price Band

The IPO comprises a fresh issue of 0.85 crore shares worth Rs 217.21 crore and an OFS of 0.10 crore shares worth Rs 25.55 crore. The price band is fixed at Rs 237 to Rs 255 per share, with a face value of Rs 10. The minimum lot size is 58 shares, requiring a retail investment of Rs 13,746. For high-net-worth investors, the lot size stands at 14 lots (812 shares) for sNII and 68 lots (3,944 shares) for bNII.

Fedex Securities Pvt Ltd is acting as the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar.

The company’s shares are proposed to be listed on both BSE and NSE with a tentative listing date of August 26, 2025.

Patel Retail IPO Reservation

Out of the total issue, 44.76% is reserved for retail investors, 29.84% for QIBs, 24.87% for NIIs, and 0.54% for employees, who also enjoy a Rs 20 discount per share.

Patel Retail Financials

Founded in 2008, Patel Retail operates a chain of supermarkets under the brand “Patel’s R Mart,” largely in tier-III cities and suburban Maharashtra. As of May 2025, the company runs 43 stores across Thane and Raigad districts, with a total retail space of about 1.78 lakh sq. ft.

Financially, the company reported a revenue of Rs 825.99 crore in FY25, with a 12% rise in net profit to Rs 25.28 crore from the previous year.

Patel Retail IPO: Should You Subscribe?

Anand Rathi in its report said: 

Patel Retail Limited, headquartered in Ambernath, Maharashtra, is a value retail supermarket chain operating under the brand Patel’s R Mart, with 43 stores across Thane and Raigad and a retail space of about 1.79 lakh sq. ft. Incorporated in 2008, the company has expanded into nonretail operations, including food processing, packaging, exports, and trading, offering products under in-house brands such as Patel Fresh, Indian Chaska, Blue Nation, and Patel Essentials.

They aim to strengthen their retail presence in Maharashtra by deepening market penetration and expanding their store network. Their stores are spread across 17 cities and suburban areas in the Thane and Raigad districts of Maharashtra. Following a cluster-focused expansion strategy, they plan to strengthen their presence in the western suburbs of the MMR, including Mira Road, Bhayander, Virar, and Vasai, as well as expand into the municipal region of Pune, Maharashtra.

At the upper price band, the company is valued at a FY25 P/E of 33.6x, with a post-issue market capitalization of Rs 8,504 million. Each retail store offers over 10,000 SKUs, and the company’s strategy focuses on providing a wide product range at value-for-money prices with strong customer service, sustaining competitiveness through everyday low prices driven by efficient procurement, supply, and operations. Based on these factors, the IPO appears fully priced, with a “SUBSCRIBE – LONG TERM” recommendation.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:August 18, 2025, 17:14 IST

Easy access to Delhi’s IGI Airport, plus connectivity to Cyber City, Udyog Vihar, and the Delhi-Mumbai Expressway, makes the area highly attractive to investors

Experts attribute this price surge to the excellent connectivity provided by the Dwarka Expressway. (PTI/File)

Prime Minister Narendra Modi inaugurated the Delhi section of the Dwarka Expressway and Urban Extension Road-II (UER-II) on Sunday. These projects are expected to significantly reduce traffic congestion in the national capital and enhance connectivity with neighbouring cities. The Haryana section of the Dwarka Expressway is already operational.

Since the announcement of the Dwarka Expressway construction, property prices in the surrounding areas have surged and show no signs of slowing. Over the past four years, property values around the expressway have nearly doubled, with experts predicting a further 15-20% increase over the next two years. According to a study by PropEquity, the launch price on the Dwarka Expressway has risen from Rs 9,434 per square foot in 2020 to Rs 18,668 per square foot in 2024.

Similarly, the price of a standard 3BHK flat has escalated from Rs 1.8 crore in 2022 to between Rs 2.6 crore and Rs 4 crore this year.

Experts attribute this price surge to the excellent connectivity provided by the expressway. The easy access to Delhi’s IGI Airport, and connectivity to major economic centres like Cyber City and Udyog Vihar, along with a direct link to the Delhi-Mumbai Expressway, have made this area highly attractive to investors.

Property Demand Set To Rise

Navdeep Sardana, founder of real estate company Whiteland Corporation, describes the Dwarka Expressway as the most promising corridor of the NCR. The direct connectivity of Gurugram, Sonipat, and Panipat with UER-II is expected to create substantial opportunities for investors, with a rapid increase in demand for high-quality residential and commercial projects.

Pradeep Aggarwal, founder and chairman of Signature Global (India) Ltd, notes that property prices around the expressway have doubled in the past five years, driven by infrastructure that supports large-scale residential and retail development and connects to economic hubs like Cyber City.

Rising Demand For Commercial Projects

Other experts suggest the area’s development will extend beyond residential projects, with large-scale logistics hubs, retail spaces, and office developments emerging rapidly. Surinder Singh, director of GLS Group, highlights that the reduced travel time between Gurugram and IGI Airport, now just 20 minutes, and the direct link to the Delhi-Mumbai Expressway will make this area a prime location for corporates, retail companies, and service industries.

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Last Updated:August 18, 2025, 16:03 IST

The Indian stock market witnesses a major rally in auto and consumer goods stocks, including Ashok Leyland, Voltas, Hyundai Motor India, Hero MotoCorp, and Maruti Suzuki.

The rally in the Indian stock market comes amid firm domestic signals and steady global trends.

The domestic equity markets on Monday started the week on a bullish note, with the BSE Sensex surging by 676.09 points or 0.84% to settle at 81,273.75 and the NSE Nifty jumping 245.65 points or 1% to close at 24,876.95. The rally in the Indian stock market came amid firm domestic signals and steady global trends.

The stock market witnessed a major rally in auto and consumer goods stocks, including Ashok Leyland, Voltas, Hyundai Motor India, Hero MotoCorp, Maruti Suzuki, and PG Electroplast.

On Nifty indices, the auto sector was up 4.18%, followed by consumer durables (3.38%), realty (2.17%), financial services (2.11%), metal (1.86%), and FMCG (1.19%).

Key Factors Behind Stock Market Rally Today

PM Modi’s Announcement On GST Reforms: Prime Minister Narendra Modi in his Independence Day Speech during the weekend announced a major overhaul in the Goods and Services Tax (GST) structure. Though he did not announce any details, reports said the Centre is considering scrapping the current 12% and 28% GST slabs, realigning most items into the 5% and 18% categories. Certain sin or luxury goods may be placed in a new 40% bracket.

The Centre is reportedly expected to lower the GST on passenger vehicles (PVs) and two-wheelers, enhancing their affordability quotient.

S&P Global’s Rating Upgrade On India: US-based rating agency S&P Global has upgraded India’s sovereign rating to ‘BBB’ after more than 18 years, citing strong economic fundamentals that are likely to support growth in the next two to three years. It also pointed out that monetary policy has become “increasingly conducive to managing inflationary expectations”.

A day after, it also upgraded the ratings of India’s 10 financial institutions, including seven Indian banks (SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank) and three finance companies (Bajaj Finance, Tata Capital, and L&T Finance).

Positive Developments On Russia-Ukraine Issue: US President Donald Trump and Russian President Vladimir Putin met during the weekend in Alaska to discuss the Ukraine issue. Though the meeting remained inconclusive, India welcomed the Trump-Putin summit and said “India appreciates the progress made in the summit”.

The outcome of today’s meeting at the White House between Trump and Ukrainian President Volodymyr Zelensky for finding a solution to the Russia-Ukraine conflict will be keenly watched by the market

Lower Crude Oil Prices: Oil prices on Monday struggled as US President Donald Trump backed away from threats to place more restrictions on Russian oil exports. Brent dropped 0.2% to $65.74 a barrel, while US crude eased 0.1% to $62.76 per barrel.

Positive Global Markets: Share markets edged higher in Asia on Monday ahead of what is likely to be an eventful week for US interest rate policy, while oil prices slipped as risks to Russian supplies seemed to fade a little. A general risk-on mood saw indices in Japan and Taiwan make record peaks, while Chinese blue chips reached their highest in 10 months.

Shares across the Asia-Pacific region traded mixed as investors assessed the outcome of the US-Russia summit, which ended without a ceasefire. Japan’s Nikkei 225 climbed 0.62 per cent, while the Topix index was up 0.42 per cent. South Korea’s Kospi slipped 1.06 per cent and the Kosdaq shed 1.44 per cent. Futures linked to Hong Kong’s Hang Seng index were at 25,214, suggesting a firm opening.

US Softens Stance On Tariffs: The Indian stock market remained positive on Monday after US President Donald Trump signalled that Washington may not impose secondary tariffs on countries continuing to buy Russian crude, easing concerns of a potential hit to India.

Rupee Gains: The rupee rose 20 paise to 87.39 against the US dollar in early trade, tracking firm domestic equities. It had closed at 87.59 in the previous session.

“There are strong tailwinds for the market with potential to take it higher. Declarations by the prime minister on the next major reforms in GST by Diwali, is a big positive. The expectation is that most of the goods and services will be in the 5% and 18% tax slabs. Sectors like autos and cement which are presently in the 28% tax slabs are expected to benefit. TVS Motors, Hero, Eicher, M&M and Maruti are likely to respond positively to the news. Insurance companies are also expected to benefit from the GST revision,” V K Vijayakumar, chief investment strategist of Geojit Investments Limited, said.

S&P 500 upgrading India’s sovereign credit rating is another major positive. But, the market ignored this announcement since the negative news flows are also strong. India-US trade talks are unlikely to happen before August 27th deadline. The ‘Trump Sword’ of 50% tariff dangling on India will restrain the market enthusiasm which can be triggered by the positive news mentioned earlier. The outcome of today’s meeting at the White House for finding a solution to the Russia-Ukraine conflict will be keenly watched by the market, he added, he added.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:August 18, 2025, 00:01 IST

PM Narendra Modi said the revised GST framework proposed by the Centre has been circulated among states. He sought their cooperation to implement the proposal before Diwali

PM Narendra Modi had announced the proposal to reform the GST law during his Independence Day speech on August 15 from the ramparts of the Red Fort. (Image for representation: News18)

The three panels of state finance ministers will meet on August 20 and 21 to review the draft of the next-generation GST reforms, including proposals to rationalise the tax structure.

The panels, called the Groups of Ministers (GoM), have been set up by the Goods and Services Tax (GST) Council to look into rate rationalisation, insurance, and compensation cess.  

Prime Minister Narendra Modi on Sunday said the revised GST framework proposed by the Centre has been circulated among states. He sought their cooperation to implement the proposal before Diwali.

According to a report by Money Control, the recommendations of the three GoMs will be taken to the GST Council, which is expected to meet next month to deliberate on the tax reform proposal.

WHAT DOES THE REVISED GST FRAMEWORK PROPOSE?

Modi had announced the proposal to reform the GST law during his Independence Day speech on August 15 from the ramparts of the Red Fort.

The present GST tax rates of nil/zero on essential food items, 5 percent on daily use products, 12 percent on standard goods, 18 percent on electronics and services and 28 percent on luxury and sin goods will be replaced by two tax slabs of 5 percent and 18 percent plus a special 40 percent top bracket for five to seven demerit goods.

Here’s what the proposed two-slab regime looks like:

• If approved by the GST Council, the two-slab regime will replace the current four slabs doing away with the 12% and 28% slabs.
• As many as 99% of items in the 12% category, such as butter, fruit juices and dry fruits, will move to a 5% tax rate.
• Similarly, electronic items like air-conditioners, televisions, refrigerators, and washing machines, as well as other goods like cement, will be among the 90% of the items that will move from 28% to a lower 18% slab.
• According to highly placed sources, a special tax rate of 40% — the maximum rate allowed under the GST law — will be charged for demerit and sin goods like tobacco, gutka, and pan masala, as well as online gaming.
• About 20% of items, including packaged food and beverages, apparel and hotel accommodation, are currently taxed at 12% GST and account for 5% to 10% of consumption and 5% to 6% GST revenue. Moving them to a lower 5% slab may lead to revenue loss, but the Centre is hopeful that a boost in consumption will be able to make up for the deficit.

The move comes amid the Trump administration’s 50 percent tariff imposition on all goods India exports to the United States, so as to punish New Delhi for buying Russian oil. The tariffs are likely to impact $40 billion of non-exempt Indian exports such as gems and jewellery, textiles and footwear.

(With PTI inputs)

News Desk

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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More

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Last Updated:August 17, 2025, 16:08 IST

Prime Minister Narendra Modi says the reform in GST would benefit poor and middle-class people, as well as small and big businesses.

Prime Minister Narendra Modi in Delhi. (PMO)

Prime Minister Narendra Modi on Sunday said the Centre has circulated the draft of the next-generation GST reforms among states and sought their cooperation to implement the proposal before Diwali.

He said the reform in GST would benefit poor and middle-class people, as well as small and big businesses.

Addressing an event here after the inauguration of two expressways, the Prime Minister said the Centre intends to make the GST law simpler and revise tax rates.

Modi had announced the proposal to reform the GST law in his Independence Day speech on August 15 from the ramparts of Red Fort.

“For us, reform means the expansion of good governance,” he said.

Therefore, Modi said the government is continuously focusing on bringing reforms.

In the coming months, the Prime Minister said, “We are going to do many big reforms so that the lives of people and businesses become easier”.

The Centre is bringing the “next generation reform” in the GST.

“This Diwali, people will get a double bonus from GST reform,” he noted.

Modi said the Centre has sent the draft proposal of the GST reform to the states.

“I hope that all states will cooperate in the initiatives of the central government,” he said, urging them to complete the process at the earliest so that the Diwali festival becomes more fabulous.

The objective of this reform is to make GST simpler and revise rates, he added.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

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Last Updated:August 16, 2025, 20:01 IST

In the early 2000s, he purchased Titan Company shares at Rs 30-Rs 40 apiece and the investment eventually delivered returns of over Rs 15,000 crore

Rakesh Jhunjhunwala was born on July 5, 1960, in Mumbai to a middle-class Marwari family. (PTI Photo)

Rakesh Jhunjhunwala, fondly called the ‘Big Bull’ of Dalal Street, transformed a modest investment of just Rs 5,000 into a fortune exceeding Rs 40,000 crore, leaving behind one of the most inspiring legacies in the stock market history.

Born on July 5, 1960, in Mumbai to a middle-class Marwari family, Jhunjhunwala grew up watching his father, an Income Tax Department officer, discuss the stock market with friends. Those conversations ignited his curiosity about equities. On his father’s advice, he began reading newspapers daily to sharpen his understanding of business and market trends.

Although he qualified as a chartered accountant after studying at Sydenham College, Jhunjhunwala shunned the security of a stable job. Instead, he plunged into the volatile world of stocks. His first investment, funded by borrowing Rs 5,000 from his brother, marked the beginning of a remarkable journey.

In 1986, he took a bold gamble, raising additional capital from market experts at steep interest rates. His maiden big win came with Tata Tea, bought at Rs 43 a share, it surged to Rs 143 within three months, netting him about Rs 5 lakh. He followed this with smart bets on Tata Power and Sesa Goa.

But his most iconic move came in the early 2000s, when Titan Company was struggling. Trusting the brand’s long-term potential, he purchased shares at Rs 30-Rs 40 apiece, an investment that eventually delivered returns of over Rs 15,000 crore.

“Always go against the crowd. Buy when everyone is selling and sell when everyone is buying,” Jhunjhunwala’s simple yet powerful mantra became synonymous with his investing style.

Through his firm RARE Enterprises, named after himself and his wife Rekha, he invested in several market leaders, including Star Health, Metro Brands, Tata Motors and CRISIL. From the 1992 securities scam to the 2008 global financial crisis, Jhunjhunwala demonstrated an uncanny ability to identify resilient companies during turbulent times.

In 2021, he ventured into aviation with Akasa Air, which became the world’s fastest-growing airline within a year. By the time of his passing in 2022, the Sensex had crossed the 59,000 mark, up by 150 points. In 2023, he was posthumously awarded the Padma Shri.

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Last Updated:August 16, 2025, 16:16 IST

Knowing alimony, spousal, and child support rules in India is vital. Both parties should assess assets, liabilities, joint property, accounts, investments, and loans

Hiring a divorce lawyer to protect financial interests and a financial planner for post-divorce financial planning is recommended. (Representative/News18 Bangla)

Amid the emotional turmoil of divorce, many individuals face the added concern of alimony, which can bring significant financial implications. Courts step in to provide this support, aiming to ease the financial strain and ensure stability for the affected spouse.

In India, alimony is governed by various personal laws and the Code of Criminal Procedure, 1973 (CrPC), ensuring that financially weaker spouses can maintain a life of minimum dignity post-separation. The form of alimony can vary based on case specifics.

Types Of Alimony:

• Permanent Alimony: This is extended to spouses who require ongoing financial support post-divorce, ceasing only upon the recipient’s remarriage or death, as stipulated under Section 25 of the Hindu Marriage Act, 1955, and other personal laws.
• Temporary Alimony/Interim Maintenance: Provided during divorce proceedings, it covers legal fees, living expenses, and other related costs, according to Section 24 of the Hindu Marriage Act, 1955, and Section 125 of the CrPC.
• Rehabilitative Alimony: Offered for a limited period, it aims to help the financially weaker spouse become self-sufficient, often through education or employment opportunities.
• Reimbursement/Compensatory Alimony: This compensates a spouse who sacrificed career opportunities for family obligations. Equitable principles guide its provision.
• Lump Sum Alimony: A one-time payment that spares the recipient from monthly legal battles, allowing them to settle debts, purchase property, or fulfil other needs.
• Nominal Alimony: A minimal amount set to preserve the legal right to claim more significant support in the future, used when immediate financial need is absent but anticipated.

Alimony Under Various Personal Laws

• Hindu Law: The Hindu Marriage Act, 1955 (Sections 24 and 25) covers interim and permanent alimony.
• Muslim Law: Alimony is paid during the iddat period post-divorce as per Sharia law and the Muslim Women (Protection of Right to Divorce) Act.
• Christian Law: The Indian Divorce Act, 1869 (Sections 36 and 37) governs alimony for Christian spouses.
• Parsi Law: The Parsi Marriage and Divorce Act, 1936 provides for maintenance both during and post-divorce.
• Special Marriage Act, 1954: Applicable to inter-religious marriages, it permits maintenance under Sections 36 and 37.

Future Earning Capacity

The ability to earn in the future, even if currently unemployed, affects alimony amounts. Courts encourage self-reliance, as seen in Kalyan De Chowdhury v. Rita De Chowdhury, (2017) 14 SCC 200.

Income Disclosure And Special Needs

In a notable case, the Jharkhand High Court increased a wife’s monthly maintenance to Rs. 90,000 after RTI findings revealed the husband’s income. The court also acknowledged the special needs of the couple’s autistic child, factoring in the mother’s full-time caregiving role.

Understanding alimony, spousal support, and child support under Indian law is crucial. Both parties must evaluate their assets and liabilities, including jointly owned property, bank accounts, investments, jewellery, and vehicles, as well as joint liabilities like loans. Removing one’s name from joint loans or credit cards is advisable to avoid future liabilities.

For financially dependent individuals, budgeting for post-divorce living expenses is essential. Opening a separate bank account, updating nominees on insurance and investment portfolios, and planning finances to manage alimony payments are important steps. Alimony received in lump sums is tax-free, whereas monthly payments are taxable. Understanding capital gains tax on donated property is also necessary.

Child support for education, health, and daily expenses must be decided, considering the custodial parent’s role. Updating wills, insurance policies, bank nominations, and property documents to exclude the ex-spouse might be necessary. Ensuring all financial settlements are documented in the divorce decree is critical.

Hiring a divorce lawyer to protect financial interests and a financial planner for post-divorce financial planning is recommended. Saving and investing for long-term security, acquiring new skills, and seeking employment or business opportunities can help rebuild a financially independent life post-divorce.

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Last Updated:August 15, 2025, 21:05 IST

The proposal also signals that some goods will become significantly costlier

The finance ministry has reportedly put forward a proposal to the GST Council to move from the existing four-slab system to a two-slab model, with rates of 5% and 18%. Representational image

India is on the brink of a major GST overhaul that promises to simplify the tax structure and significantly alter the cost of goods and services for millions of consumers. The finance ministry has reportedly put forward a proposal to the GST Council to move from the existing four-slab system to a two-slab model, with rates of 5% and 18%.

This strategic shift is designed to make the tax system more straightforward and, as promised by the Prime Minister, to provide a “Diwali bonanza” to citizens.

Cheaper: Processed food, phones

Under the new proposal, a vast majority of items used by the common person are slated to become cheaper. The plan outlines that 99% of commodities currently taxed at 12% would be shifted to the lower 5% bracket. This change is expected to bring down the prices of a wide range of goods, including processed food items like butter, ghee, and packaged fruit juices.

Other products, such as mobile phones, which are essential for students and the aspirational middle class, are also likely to see a rate reduction from 12% to 5%. This move would not only make these items more accessible but also boost consumption, which the government believes will fuel higher GDP growth.

Boost for rural livelihood, essential services

For sectors that are crucial to rural livelihoods, such as handicrafts and certain agricultural equipment, the new structure could mean much-needed financial relief. Essential services like medicines, health, and insurance premiums, which are currently taxed at higher rates, are also expected to see a reduction, making them more affordable for a wider population.

The simplified tax structure is also intended to streamline business operations for traders and MSMEs, with promises of benefits like quick refunds and easier calculations.

‘Sin tax’ items, luxury goods to get costlier

While many items are poised to get cheaper, the proposal also signals that some goods will become significantly costlier. The new plan introduces a “special rate” of 40% for a select few “sin items” and luxury goods, as an additional punitive tax. These products, which are considered injurious to health or are non-essential, include tobacco, cigarettes, and pan masala.

By moving these items to a much higher tax slab, the government aims to curb their consumption and generate higher revenue from them, thereby offsetting any potential revenue loss from the rate rationalisation on other goods.

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Last Updated:August 15, 2025, 15:52 IST

The Bombay High Court quashed a tax notice to a Mumbai woman in a Rs 6.75 crore property deal, citing her lack of financial contribution.

News18

The Bombay High Court has given a relief to a Mumbai woman on a tax notice following a joint ownership with her husband in a Rs 6.75 crore property deal.  According to Economic Times Wealth report, the HC set aside a tax notice issued to a Mumbai woman who was made a joint owner of a Rs 6.75-crore property bought entirely with her husband’s funds.

The court observed that the woman, a housewife with an annual income of just Rs 4.36 lakh, had made no financial contribution to the purchase, the ET Wealth report added.

The case arose after the Income Tax Department alleged possible tax evasion and sent notices under Section 148 of the Income Tax Act to both husband and wife. While the wife’s notice has been quashed, the husband’s case remains pending.

Understand The Full Case

According to the court order dated August 4, 2025, the wife’s name was added to the property documents purely for convenience. Bank statements confirmed the husband paid the entire amount from his HDFC Bank account, as per ET Wealth report.

The court cited its earlier decision in Kalpita Arun Lanjekar vs. ITO (2024), where a similar notice to a non-contributing joint owner was cancelled.

Justice B.P. Colabawalla and Justice Firdosh P. Pooniwalla noted that no income had escaped assessment in the wife’s case and that all payment details were traceable to her husband. They questioned why the Assessing Officer targeted her despite clear evidence.

Experts told ET Wealth Online that joint property ownership can raise red flags for tax authorities if not documented properly.

Chartered Accountant Dr. Suresh Surana told ET Wealth the purchase deed should record each co-owner’s financial contribution and ownership percentage. Proper records of bank transfers, receipts, and agreements must be kept.

CA Ashish Karundia advised documenting contributions made as gifts or loans, and reflecting the correct share of income in each person’s tax return.

If a co-owner hasn’t contributed any money, the agreement should declare that the entire purchase was funded by the primary owner, and all related income should be shown only in their ITR.

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Last Updated:August 14, 2025, 18:23 IST

The agency has raised India’s long-term unsolicited sovereign credit ratings to ‘BBB’ from ‘BBB-‘, and its short-term ratings to ‘A-2’ from ‘A-3’

This is seen as a significant acknowledgement of India’s growth story, especially given the cynicism within the Congress and Rahul Gandhi endorsing American President Donald Trump’s comment that India was a dead economy.
Representational image

The mood is upbeat with the S&P rating system upgrading India. They have raised India’s long-term unsolicited sovereign credit ratings to “BBB” from “BBB-“, and its short-term ratings to “A-2″ from “A-3″. The outlook on the long-term rating is stable. This is seen as a significant acknowledgement of India’s growth story, especially given the cynicism within the Congress and Rahul Gandhi endorsing American President Donald Trump’s comment that India was a dead economy.

The global ratings agency stated, “The stable outlook reflects our view that continued policy stability and high infrastructure investment will support India’s long-term growth prospects. That, along with cautious fiscal and monetary policy that moderates the government’s elevated debt and interest burden, will underpin the rating over the next 24 months.”

This is significant considering the uncertainty over the Indian market and trade, given the face-off between India and the US. There is concern that high tariffs could impact India’s economy. However, the agency acknowledged these apprehensions and said, “Though the U.S. is India’s largest trading partner, we do not expect the 50% tariffs (if imposed) to pose a material drag on growth. India’s exports to the U.S. constitute about 2% of GDP. Factoring in sectoral exemptions on pharmaceuticals and consumer electronics, the exposure of Indian exports subjected to tariffs is lower at 1.2% of GDP. Though this may eventually result in a one-off hit to growth, we envisage the overall impact to be marginal and will not derail India’s long-term growth prospects.”

The Indian government has been appreciated for its political stability. The agency mentioned that with the BJP having a majority in Parliament, the formulation of laws and schemes becomes easier. It has predicted a GDP growth of about 6.5%. Many government schemes and initiatives by Prime Minister Narendra Modi, like Jan Dhan, push to MSMEs, Ayushman Bharat, to name a few, have helped the economy.

Additionally, the commerce ministry has released data showing that this quarter alone, trade has increased in many critical sectors like gems, mechanical goods, and auto parts. While there is concern about trade ties between the US and India, the ministry remains hopeful. The ministry stated, “Commerce ministry—negotiations with US are ongoing… talks are on… BTA talks are engaged… the US is an important trade partner for us just as we are for them.”

These ratings are also important as India is poised to sign several bilateral trade agreements with other countries. A good rating will give India more power to negotiate.

Pallavi Ghosh

Pallavi Ghosh has covered politics and Parliament for 15 years, and has reported extensively on Congress, UPA-I and UPA-II, and has now included the Finance Ministry and Niti Aayog in her reportage. She has als…Read More

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Last Updated:August 14, 2025, 16:14 IST

A day ahead of India’s 79th Independence Day, the country’s short-term rating has also been revised to ‘A-2’ from ‘A-3’ by S&P Global.

S&P Global says the stable outlook reflects its view that “continued policy stability and high infrastructure investment will support India’s long-term growth prospects”.

Ratings agency S&P Global has upgraded India’s sovereign rating to ‘BBB’ from its earlier ‘BBB-‘ on Thursday, August 14, while maintaining the outlook as ‘stable’. The move comes a day ahead of India’s 79th Independence Day.

The short-term rating has also been revised to ‘A-2’ from ‘A-3’, and the transfer and convertibility assessment has been upgraded to ‘A-‘ from ‘BBB+’.

“India is prioritising fiscal consolidation, demonstrating the government’s political commitment to deliver sustainable public finances, while maintaining its strong infrastructure drive,” S&P said in a statement.

S&P Global said the stable outlook reflects its view that “continued policy stability and high infrastructure investment will support India’s long-term growth prospects. That, along with cautious fiscal and monetary policy that moderates the government’s elevated debt and interest burden will underpin the rating over the next 24 months”.

In May 2024, the agency had shifted its outlook on the Indian economy to positive from stable, noting it could raise the sovereign rating if the fiscal deficit narrowed sufficiently for the net change in general government debt to fall below 7% of GDP on a structural basis.

‘Govt Of India Welcomes S&P’s Upgrade’

Reacting to this, the finance ministry in a statement said, “The Government of India welcomes the decision by S&P Global Ratings to upgrade India’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and its short-term rating to ‘A-2’ from ‘A-3’, with a Stable Outlook. S&P last upgraded India in January 2007 to ‘BBB-’, hence, this rating upgrade comes after an 18-year gap.”

The ratings upgrade reaffirms that under Prime Minister Narendra Modi’s leadership, providing stability, India’s economy is truly agile, active, and resilient, it added.

“India has prioritised fiscal consolidation, while maintaining its strong infrastructure creation drive and inclusive growth approach, that has led to the upgrade. India will continue its buoyant growth momentum and undertake steps for further reforms to attain the goal of Viksit Bharat by 2047,” the ministry stated.

S&P’s is the second sovereign rating revision this year. DBRS had recently upgraded India to BBB status, it said.

According to S&P Global, India is prioritising fiscal consolidation, demonstrating “the government’s political commitment to deliver sustainable public finances, while maintaining its strong infrastructure drive”.

The agency also noted that the country’s robust economic expansion is improving credit metrics and that it expects sound fundamentals to sustain growth momentum over the next two to three years.

“In addition, monetary policy settings have become increasingly conducive to managing inflationary expectations,” the note stated.

S&P Global added it could consider another upgrade if fiscal deficits narrow to the extent that the net change in general government debt falls below 6% of GDP on a structural basis.

S&P Global’s ‘BBB’ rating is an investment-grade rating that indicates a country’s adequate capacity to meet its financial commitments, subject to adverse economic conditions.

“We believe the effect of US tariffs on the Indian economy will be manageable. India is relatively less reliant on trade and about 60 per cent of its economic growth stems from domestic consumption,” S&P said.

Though the US is India’s largest trading partner, S&P does not expect the 50 per cent tariffs (if imposed) to pose a material drag on growth, it added.

‘Economy is dead?’

BJP national spokesperson Shehzad Jai Hind (Modi Ka Parivar) said in a post on X, “Economy is dead? BIG: S&P upgrades India’s sovereign rating to BBB (stable outlook). Global markets are acknowledging India’s growth momentum, fiscal consolidation, and infrastructure push. So much for the ‘dead economy’ chants from Rahul Gandhi.”

According to the post, S&P noted ‘India is prioritising fiscal consolidation… while maintaining its strong infrastructure drive’. Robust economic expansion is having a constructive effect… monetary policy settings have become increasingly conducive to managing inflationary expectations. We therefore raised our sovereign credit ratings on India to ‘BBB’ from ‘BBB-‘.

“Reforms deliver,” he added.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

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Last Updated:August 13, 2025, 22:05 IST

Ethereum surged to near $4600, driven by institutional investment and ETF inflows. ETH outperformed Bitcoin with a 25% gain in August.

Crypto news: ETH jumps 25% in August, outperforming Bitcoin.

Ethereum Price: Ethereum, the second most popular cryptocurrency after Bitcoin, reached a near record high at $4600, driven by institutional investment, ETF inflows, positive sentiment, and increased on-chain activity.

Ethereum price jumped 9 per cent in the past 24 hours as per CoinMarketCap, with market cap rising to $560.56 billion.

In the recent market surge, Ethereum has significantly outperformed Bitcoin. ETH posted impressive gains of 25% in August alone, compared to Bitcoin’s modest 3% rise, argued Piyush Walke – Derivatives Research Analyst, Delta Exchange.

Ethereum jumped approximately 9% since yesterday, breaking past the $4,600 level—just 200 points shy of its all-time high from November 2021.

Walke added this rally is driven by strong bullish momentum fueled by institutional inflows, technical breakouts, and optimism surrounding Ether ETFs. On Monday, spot Ether ETFs recorded their highest-ever single-day net inflows, totaling $1.01 billion. This surge in capital coincides with Ethereum’s 90% gain over the past 40 days and a shift in key technical indicators to bullish territory.

With the jump of Ethereum price, its founder Vitalik Buterin has once again joined the ranks of crypto’s 10-figure holders, with his portfolio now valued at approximately $1.04 billion.

Since its inception, ETH has given an approximately 163392 per cent return to investors.

Institutions like Bitmine and SharpLink have notably increased their ETH holdings, in some cases by several hundred percent, signaling growing institutional confidence. These inflows are reinforcing bullish technical patterns and pushing prices through key resistance levels like $4,600.

Meanwhile, Bitcoin price retreated to $118,989 after jumping near its ATH. Bitcoin price is up 4.25 per cent in the past 7 days.

Vikas Gupta, Country Manager for Bybit India said, Ethereum’s recent surge is being driven by record-breaking institutional participation with the U.S. spot Ethereum ETFs, attracting over $1 billion in net inflows within one week, the largest inflows in a single week since inception. This surge shows early trends observed with Bitcoin ETFs post-approval, highlighting increasing appetite from wealth managers, hedge funds, and RIAs for ETH exposure. Leading asset managers like BlackRock, Fidelity, and Grayscale are observing institutional demand for ETH, reflecting Ethereum’s transformation from a retail-heavy asset to a mainstream institutional investment.

Edul Patel, CEO and Co-Founder of Mudrex argued that in the last 2 days alone, ETH ETFs saw about $1.5 billion in net inflows, further supporting the rally. Historically, when Ethereum rallies, it is followed by a rally in the broader market, leading to an altcoin season. If the uptrend continues, we could see capital rotation into promising assets across the market.

Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin and others, it goes beyond Bitcoin’s primary function as digital money by offering programmable blockchain capabilities. Ethereum’s native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the network.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

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Last Updated:August 12, 2025, 22:31 IST

The Union Cabinet, led by PM Modi, approved four semiconductor projects worth Rs 4,600 crore, creating 2,034 jobs.

India approves four new semiconductor projects.

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved four new semiconductor projects under the India Semiconductor Mission (ISM), marking another milestone in India’s bid to build a robust chip-making ecosystem.

The fresh approvals, worth a cumulative Rs 4,600 crore, are expected to create 2,034 skilled jobs directly and many more indirectly. With this, the total number of projects approved under ISM rises to 10, with total planned investments of about Rs 1.60 lakh crore spread across six states.

The newly approved proposals are from 3D Glass Solutions Inc., Continental Device India Private Limited (CDIL), and Advanced System in Package (ASIP) Technologies. SiCSem and 3D Glass will set up facilities in Odisha, CDIL will expand in Punjab, and ASIP will set up operations in Andhra Pradesh.

SiCSem, in collaboration with UK’s Clas-SiC Wafer Fab Ltd., will establish India’s first commercial compound semiconductor fab in Bhubaneshwar with a capacity of 60,000 wafers and 96 million packaged units annually. The devices will cater to sectors such as defence, EVs, railways, data centres, and renewable energy.

3D Glass Solutions will also set up a unit in Bhubaneshwar to bring advanced packaging technology, producing glass interposers, silicon bridges, and 3D Heterogeneous Integration modules for high-performance computing, AI, photonics, and defence applications.

ASIP Technologies, in a tie-up with South Korea’s APACT Co. Ltd., will set up a semiconductor packaging facility in Andhra Pradesh with an annual capacity of 96 million units for use in mobile devices, automobiles, and consumer electronics.

CDIL will expand its Mohali plant to manufacture high-power devices such as MOSFETs, IGBTs, and Schottky diodes, with an annual capacity of over 158 million units.

With the approval of these projects, the semiconductor ecosystem in the country would get a significant boost as these projects include the country’s first commercial compound fab as well as a highly advanced glass-based substrate semiconductor packaging unit.

These would complement the growing world-class chip design capabilities coming up in the country, which are propelled by design infrastructure support provided by the Government to 278 academic institutions and 72 start-ups.

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Last Updated:August 12, 2025, 16:02 IST

Net direct tax collection dropped 3.95% to Rs 6.64 lakh crore this fiscal due to higher refunds.

India Net Direct Tax Collection Falls

Net direct tax collection dipped 3.95 per cent to Rs 6.64 lakh crore so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday.

Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.

Net corporate tax collection stood at about Rs 2.29 lakh crore, while non-corporate tax (which includes individuals, Hindu Undivided Families (HUFs) and firms) was at Rs 4.12 lakh crore. Securities Transaction Tax (STT) mop-up was Rs 22,362 crore between April 1-August 11.

Total net collections stood at about Rs 6.64 lakh crore, a 3.95 per cent fall over Rs 6.91 lakh crore collected in the same period last fiscal (2024-25).

Refunds issued so far this fiscal jumped 10 per cent to Rs 1.35 lakh crore.

Gross collections (before refunds) stood at Rs 7.99 lakh crore between April 1-August 11, a 1.87 per cent dip over Rs 8.14 lakh crore in the year-ago period.

In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

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Last Updated:August 07, 2025, 21:00 IST

UPI services experienced an outage on Thursday, causing payment difficulties for users across India.

UPI system. (Image: File Pic)

UPI Outage: Unified Payment Interface (UPI) services suffered an outage as several users across India reported difficulties in making payments on Thursday.

Several users said that they were unable to use UPI apps like Google Pay, PhonePe, Paytm, and other leading platforms to complete transactions.

As per Downdetector, which tracks outages by collating status reports from several sources, including user-submitted errors on its platform, there were around 200 complaints from users with respect to the UPI outage by 8:30 pm.

Nearly 80% of these complaints cited issues while attempting payments.

The glitch disrupted transactions across major public and private banks, including HDFC Bank, State Bank of India, Bank of Baroda, Punjab National Bank, and Kotak Mahindra Bank.

Netizens Storm X

Several users took to X to share that they were unable to do transactions via mobile applications.

A X user Utkarsh Singh wrote, “Upi has been down from the past 1 hour without any scheduled maintenance note.”

Another user said, “The UPI is down since before this time mentioned. And the website site is down NOW before 7th Aug 11pm!”

What Is UPI?

The Unified Payments Interface (UPI) is a platform that integrates multiple bank accounts into a single mobile app, regardless of the bank involved. It combines various banking services, enables smooth fund transfers, and facilitates merchant payments within one unified system.

India’s real-time payment technology has emerged as the global leader, surpassing Visa, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability. The IMF report states that UPI has powered 85 per cent of India’s digital payments and nearly 60 per cent globally.

UPI is handling 640+ million transactions daily, head of Visa, the report stated, adding that Rs 24 lakh crore processed via 18.39 billion UPI transactions in June 2025. The transaction percentage rose 32 per cent YOY compared to the same month last year at 13.88 billion.

Shobhit Gupta

Shobhit Gupta is a sub-editor at News18.com and covers India and International news. He is interested in day to day political affairs in India and geopolitics. He earned his BA Journalism (Hons) degree from Ben…Read More

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Last Updated:August 07, 2025, 16:21 IST

Stock Market Today, August 7: Market sentiment remains cautiously optimistic, dampened by persistent volatility and mixed global cues, says Choice Broking in its note.

Sensex Today.

Stock Market Today, August 7: The domestic equities markets on Thursday opened in red marginally after the US’ additional 25% tariffs on India, extended losses, but then finally saw a sharp recovery towards the fag end to reclaim the green territory. The BSE Sensex recovered nearly 925 points or 1.1% from the day’s low to close at 80,623.26, which is 79.27 points or 0.1% higher than the previous close.  The NSE Nifty also recovered losses sharply and closed near the 24,600 mark, at 24,596.15, which is 21.95 points or 0.1% higher.

With this, the Indian equity market has snapped its two-day falling streak.

During the afternoon trade around 1 pm, the NSE Nifty fell below the 24,350 mark to hit the day’s low of 24,344.15 and the BSE Sensex had declined below the 80,000 mark to trade at 79,811.29.

Vinod Nair, head of research, Geojit Investments Limited, said, “Domestic equities recovered sharply from the intraday lows amid a volatile weekly expiry day. Although the earlier trade was weighed down by broad-based selling following steep US tariff hikes on India, sentiment improved toward the close as reports of potential peace talks involving Trump, Putin, and Zelensky, which raised hopes of a softer US stance on trade.”

This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green, he added.

Among the Sensex pack of 30 shares, a total of 18 stocks ended the day in green, against just five in the morning. Among the top gainers were Tech Mahindra, Eternal, HCL Tech, Axis Bank, and HDFC Bank rising up to 2.11%.

On the other hand, Adani Ports, Trent, Hindustan Unilever, Mahindra & Mahindra, and Kotak Mahindra Bank closed in red with losses up to 1.55%.

In the broader market, the BSE Midcap Index closed 0.30% higher, whereas the BSE Smallcap ended the day marginally lower by 0.18.

“Market sentiment remains cautiously optimistic, dampened by persistent volatility and mixed global cues,” Hardik Matalia, derivative analyst (research) at Choice Equity Broking Private Limited.

Stock-Specific Action

Godfrey Phillip India closed lower by 7.89% on Thursday, after surging over 24% in the previous two days. BHEL also fell 4.95%, Adani Enterprises slipped by 2.2%, and Adani Green Energy declined 2.18%.

On the other hand, Bajaj Holding jumped 1.27% following its Q1 results. Hero MotoCorp also rose 4.15% after its Q1 earnings.

IT pack saw the biggest buying during the end of the session with Coforge, Persistent, TCS, Tech Mahindra, HCL Tech closing in green with decent gains.

US President Donald Trump on Wednesday announced an additional 25% tariffs on Indian goods. This is over and above the 25% tariff plus penalty he imposed on India earlier.

Technical Analysis

“The Nifty index opened with a gap-down around the 24,460 zone and came under sustained selling pressure during the first half of the session, dragging the index lower towards 24,350. Bears remained in control for most of the day. However, in the last hour, bulls made a strong comeback, with the index recovering over 250 points from the day’s low and reclaiming the 24,600 zone,” said Chandan Taparia, head of derivatives & technical (wealth management) at Motilal Oswal Financial Services.

After sharp intraday selling, this sharp recovery brought much-needed relief for the bulls. On the daily chart, Nifty formed a Hammer candle, indicating support-based buying and a potential reversal from the lower levels. On the weekly chart, a Doji candle has formed once again, highlighting ongoing indecision and a tug of war between bulls and bears, he added.

“Throughout the week, Nifty faced selling pressure from higher levels and failed to see sustained momentum. Going forward, Nifty needs to hold above the 24600 zone to extend the recovery towards 24750 and then 24900. On the flip side, a move below 24600 could trigger weakness again with support seen at 24442 followed by 24350,” Taparia said.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

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Last Updated:August 06, 2025, 23:40 IST

US President Donald Trump announced an additional 25% import duty on goods coming from India, effectively doubling the total tariff to 50%

US President Donald Trump (Image Credit: Reuters)

A fresh wave of US tariffs is set to severely hit several of India’s key export sectors, including textiles, gems and jewellery, leather, chemicals, footwear, and shrimp, according to industry experts.

On Wednesday, US President Donald Trump announced an additional 25% import duty on goods coming from India, effectively doubling the total tariff to 50%. The move is being seen as a penalty for India’s continued import of oil from Russia, and will take effect in two stages, the first on 7 August, and the second on 27 August.

Notably, India appears to be the only country facing such penalties over Russian oil imports. Other major buyers like China and Turkey have not been subjected to similar tariff hikes.

Indian Exports Could Fall By Nearly Half

Experts at trade think tank GTRI (Global Trade Research Initiative) warn that these steep tariffs could make Indian goods significantly more expensive in the US market, potentially slashing exports by 40–50%.

“The tariffs are expected to make Indian goods far costlier in the US, with potential to cut US-bound exports by 40–50 per cent,” GTRI said.

After the new tariff, it said, organic chemicals’ exports to the US will attract additional 54 per cent duty. The other sectors which will attract high duties include carpets (52.9 per cent), apparel – knitted (63.9 per cent), apparel – woven (60.3 per cent), textiles, made ups (59 per cent), diamonds, gold and products (52.1 per cent), machinery and mechanical appliances (51.3 per cent), furniture, bedding, mattresses (52.3 per cent).

In the financial year 2024–25, bilateral trade between India and the US stood at $131.8 billion, with Indian exports at $86.5 billion. Key sectors at risk include textiles and clothing ($10.3 billion), gems and jewellery ($12 billion), shrimp ($2.24 billion), leather and footwear ($1.18 billion), chemicals ($2.34 billion), and machinery ($9 billion).

Exporters Raise Alarm

Yogesh Gupta, MD of Megaa Moda in Kolkata, said India’s shrimp exports are already under pressure from Ecuador, which faces only a 15% tariff in the US.

“We are already facing huge competition from Ecuador as it has only 15 per cent tariff. Indian shrimp already attracts a 2.49 per cent anti-dumping duty and a 5.77 per cent countervailing duty. After this 25 per cent, the duty will be 33.26 per cent from August 7,” Gupta said.

The Confederation of Indian Textile Industry (CITI) expressed “deep concern” over the situation. “The US tariff announcement of August 6 is a huge setback for India’s textile and apparel exporters as it has further complicated the challenging situation we were already grappling with and will significantly weaken our ability to compete effectively vis-à-vis many other countries for a larger share of the US market,” it said.

Similarly, Colin Shah, MD of Kama Jewelry, said, “Many export orders have already been put on hold as buyers reassess sourcing decisions in light of higher landed costs. For a large number of MSME-led sectors, absorbing this sudden cost escalation is simply not viable. Margins are already thin, and this additional blow could force exporters to lose long-standing clients.”

(With inputs from PTI)

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Last Updated:August 06, 2025, 17:34 IST

Highway Infrastructure IPO GMP Today: Its grey market premium currently stands at 54.29%, indicating strong listing gains for investors.

Highway Infrastructure IPO Day 2.

Highway Infrastructure IPO GMP: The initial public offering of Highway Infrastructure Ltd is witnessing its second day of bidding today, Wednesday, August 6. It will be closed on August 7. The price band of the mainboard IPO, which plans to raise Rs 130 crore, has been fixed in the range of Rs 65 to Rs 70 apiece. Till 5:00 pm on the second day of bidding on Wednesday, the issue received a strong 72.92 times subscription, garnering bids for 1,16,98,86,124 shares as against the 1,60,43,046 shares on offer.

The retail and NII participation stood at 73.55x and 97.90x, respectively. The QIB category has received a 7.10x subscription.

The IPO’s grey market premium currently stands at 54.29%, indicating strong listing gains for investors.

Highway Infrastructure IPO Key Dates

The IPO will remain open for public subscription between August 5, 2025, and August 7, 2025. The share allotment will likely be finalised on August 8, and the company is expected to be listed on both BSE and NSE on August 12.

Highway Infrastructure IPO Price & Lot Size

The price band of the IPO has been fixed in the range of Rs 65 to Rs 70 per share.

For investors, the minimum lot size for the IPO is 211. It means investors will have to apply for a minimum of 211 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 13,715 to apply for the IPO.

Highway Infrastructure IPO GMP Today

According to market observers, unlisted shares of Highway Infrastructure Ltd are currently trading at Rs 108 against the upper IPO price of Rs 70. It means a grey market premium or GMP of Rs 38, which is 54.29% over its issue price, indicating strong listing gains.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Highway Infrastructure IPO: Should You Subscribe?

The IPO of Highway Infrastructure Ltd (HIL), a company operating in the tollway collection and EPC infrastructure space, has garnered mixed recommendations from leading brokerages. While majority firms have issued a ‘subscribe’ rating, especially for long-term investors or listing gains, several have urged caution citing valuation and operational risks.

Swastika Investmart: Subscribe

Swastika Investmart is also bullish, recommending a ‘subscribe’ rating for both listing gains and long-term investment. The firm appreciated the company’s investment in advanced technologies such as ANPR for toll management and noted that its order book, primarily driven by EPC projects, provides visibility for future revenues. At 18.06x FY25 earnings, the brokerage feels the IPO is “fully priced” but sees room for upside given the sector outlook and company’s execution capabilities.

Anand Rathi Shares & Stock Brokers: Subscribe for Long-Term

Anand Rathi is optimistic about HIL’s long-term prospects, citing the government’s increased focus on road infrastructure development and the company’s efforts to strengthen its tollway and EPC businesses. The brokerage believes HIL is well-positioned to ride on this momentum. “It presents a niche opportunity in India’s tollway and EPC infrastructure space, supported by consistent growth and a robust order book,” the note said. It also highlighted HIL’s use of ANPR (automatic number plate recognition) technology as a key differentiator that improves operational efficiency. The brokerage has issued a ‘subscribe for long-term’ recommendation.

Arihant Capital Markets: Subscribe for Listing Gains

Arihant Capital took a balanced stance, recommending investors subscribe for listing gains. It acknowledged HIL’s strong presence across toll operations in 11 states and one union territory, and its diversified business model spanning toll collection and EPC infrastructure. As of May 31, 2025, the company’s consolidated order book stood at Rs 666.3 crore. “With a focus on cost optimization and project execution, HIL is well-positioned to benefit from India’s growing investment in national highway development,” the note added. The IPO is valued at a P/E of 22.41x on FY25 projected EPS of Rs 3.1.

SBI Securities: Avoid

Taking a contrarian view, SBI Securities advised investors to avoid the IPO. It pointed out that HIL is still a relatively small player in the infrastructure sector, with short-term toll collection contracts that are subject to frequent rebidding and intense competition. The brokerage raised concerns over the company’s high dependency on public sector clients, which account for 91 per cent of its revenue.

“The low margin profile, higher working capital cycle and geographical concentration fail to justify these valuations,” it noted. Based on post-issue capital, the stock is valued at 25.5x FY25 P/E and 17.8x EV/Ebitda, levels SBI believes are not justified given the company’s fundamentals.

Highway Infrastructure IPO: More Info

The Highway Infrastructure IPO, which is a book-building of Rs 130 crore, is a combination of a fresh issue of 1.39 crore shares aggregating to Rs 97.52 crore and an offer for sale of 0.46 crore shares aggregating to Rs 32.48 crore.

Highway Infrastructure Limited (HIL), established in 1995, is an Indian infrastructure development company primarily engaged in tollway collection and EPC (Engineering, Procurement, and Construction) projects, with a smaller presence in real estate. The company operates toll systems across 11 states and one Union Territory, leveraging technologies like ANPR and RFID-based ETC. As of August 31, 2024, it had completed 24 toll projects and was operating 7.

HIL has executed 63 EPC projects and is currently working on 20 more, mainly in Madhya Pradesh, covering roads, bridges, irrigation, and civil construction. Its real estate division focuses on residential and commercial developments, though it remains a minor part of the business. The company employs 398 people across its operations.

Its revenue fell 13% and profit after tax (PAT) rose 5% between the financial year ending with March 31, 2025 and March 31, 2024.

Pantomath Capital Advisors Pvt Ltd is the book-running lead manager of the Highway Infrastructure IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

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Last Updated:August 05, 2025, 18:00 IST

IEPFA is finalizing its Integrated Portal to streamline claim processes. It urges timely data submission and reviews low-value claim documentation.

IEPFA to Roll Out One-Stop Digital Platform for Investors and Companies

The Investor Education and Protection Fund Authority (IEPFA) is in the final phase of testing its Integrated Portal, a unified digital platform designed to streamline claim processes and enhance accessibility for both investors and companies. The portal will integrate key stakeholders—including depositories and the Public Financial Management System (PFMS)—to provide a seamless and efficient experience.

To ensure the accuracy of data submitted by companies and enable smooth claim processing, public notices under Rule 1(A) have been published on the official IEPFA website. These notices urge companies that have not yet uploaded their IEPF-1/7 SRNs along with the prescribed Excel template to complete the process at the earliest. Timely compliance is crucial for uninterrupted claim processing.

In parallel, IEPFA is undertaking a comprehensive review of documentation requirements for low-value claims, with the aim of introducing a simplified and faster claim settlement approach. Additionally, to strengthen its grievance redressal system, IEPFA is launching an Integrated Call Center that will offer more efficient, responsive, and stakeholder-friendly communication.

While these technological and procedural upgrades are being implemented, minor temporary disruptions may occur. IEPFA sincerely regrets any inconvenience and seeks the continued cooperation of stakeholders as it works towards building a more robust and investor-centric ecosystem.

About IEPFA

The Investor Education and Protection Fund Authority (IEPFA), functioning under the Ministry of Corporate Affairs, Government of India, is dedicated to safeguarding investor interests by facilitating the return of unclaimed shares and dividends and advancing financial literacy nationwide. Through flagship initiatives such as Niveshak Didi, Niveshak Panchayat, and Niveshak Shivir, IEPFA empowers individuals to make informed financial choices and fosters a financially aware citizenry.

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Last Updated:August 05, 2025, 17:35 IST

Airtel Q1’26 Results: Bharti Airtel’s customer base stood at 605 million across 15 countries by the end of Q1FY26.

Airtel declares Q1FY26 results.

Airtel Q1FY26 Results: Bharti Airtel on Tuesday reported that its consolidated net profit saw a growth of 43 per cent year-on-year to Rs 5,948 crore for the first quarter of the financial year 2025-26. On a sequential basis, the net profit declined by 46 per cent.

Bharti Airtel reported quarterly revenues of Rs 49,463 crore growing 28.5% YoY & 3.3% QoQ, attributed to strong performance in India and rebound in Africa on reported currency.

India business posts quarterly revenues of Rs 37,585 crore – up 29.0% YoY, up 2.3% QoQ, backed by improved realizations in mobile segment & strong momentum in Homes business.

India mobile services reported a 21.6% YoY revenue growth driven by ARPU improvement and continued strong additions of smartphone customers.

Operational Metrics & Capex

• Customer base: 605 million across 15 countries

• Mobile data consumption: 26.9 GB/month (Up 21.6% YoY)

• Smartphone users: Added 21.3 million YoY

• Capex: Rs 8,307 crore (Q1 FY26); India Capex: Rs 7,273 crore

• Net Debt/EBITDAaL: 1.26x (excluding lease obligations)

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

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Last Updated:August 04, 2025, 23:32 IST

Switzerland is facing 39% US tariffs on its products, the fourth-highest amount of duties after Brazil, Syria, Myanmar and Laos.

Switzerland says it is prepared to make a better offer for US President Donald Trump after being slapped with a whopping 39% tariffs that have shocked the country, causing ripples in the Swiss stock market.

The stock market tumbled by over 2% when it opened on Monday before paring its losses later in the day, ending the day down just 0.15%, after Trump announced one of the highest tariffs on the Alpine country among dozens of economies.

The new tariffs are expected to come into force from Thursday (June 7). Switzerland is facing the fourth-highest amount of tariffs after Brazil, Syria, Myanmar and Laos. Brazil is facing a 50% tariff on its products, Syria 41% and Myanmar and Laos have been slapped with 40% each.

Trump had originally threatened in April to slap a 31% tariff on Switzerland, which swiftly decided to negotiate with the United States. Swiss President Karin Keller-Sutter has said Trump believes that Switzerland “steals” from the US by enjoying a trade surplus of 40 billion Swiss francs ($50 billion).

Switzerland To Continue Talks

After an emergency meeting on Monday, the Swiss Federal Council said it would “continue negotiations with the aim of reaching a trade deal”, even beyond the Thursday deadline.

“Switzerland enters this new phase ready to present a more attractive offer, taking US concerns into account and seeking to ease the current tariff situation,” the council said in a statement, adding that it was at a distinct disadvantage as compared to other trading partners with similar economic profiles.

Hans Gersbach, deputy head of the KOF Swiss Economic Institute, said the tariffs could cut the country’s annual growth by between 0.3 and 0.6%. It could further rise if Trump targets the pharmaceutical industry, which has so far been exempt from tariffs.

Analysts at Swiss investment managers Vontobel said in a note that they believed “there is some hope for an agreement on US tariffs for Switzerland” that would bring them down to the 15% set for other countries.

The chocolate industry association, Chocosuisse, said the tariffs were a “tough blow” for the sector, which is already reeling from a 10% duty. “It is particularly shocking that Switzerland finds itself at a distinct disadvantage compared to all other Western industrialised countries,” it said in a statement.

Trump’s Tariffs

Trump has imposed tariffs on several economies, including 25% levies on Indian goods, that have injected a fresh dose of uncertainty for consumers and businesses worldwide. The legality of these tariffs are also under question as a US appeals court last week heard that Trump had exceeded his authority by declaring an “emergency” to charge the tariffs.

Critics have argued that Trump’s aggressive trade policy could gradually erode America’s power and prosperity and may lead to recession, a concern that initially led to Trump imposing a 90-day negotiating period with countries.

US Trade Representative Jamieson Greer warned on Sunday that “the coming days” were not likely to see changes in any duties as the “tariff rates are pretty much set”.

(with AFP inputs)

Aveek Banerjee

Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international…Read More

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Last Updated:August 04, 2025, 17:23 IST

The Indian government is considering a proposal for a 5-day work week for public sector banks. Currently, only the second and fourth Saturdays are holidays.

5-day work week: The government of India has clarified that the proposal of the Indian Banks’ Association (IBA) suggesting a 5-day work week for the public sector banks (PSB) is under consideration. In a written reply in Lok Sabha on July 28, 2025, Ministry of Finance said that the IBA has proposed to declare all Saturdays as holidays in banks for PSBs, according to a report of Economic Times.

As of now PSBs follow a system where only the second and fourth Saturdays are official holidays.

The ET report added that MP K C Venugopal had asked the government about the Indian Banks’ Association (IBA) proposal, staff shortages, and possible timelines for implementation.

The government hasn’t shared any specific timeline for rolling out the 5-day banking week, according to ET report.

On the question of staffing crunch in Public sector banks, the government said each based decides its staffing based on business needs, retirement, and other factors. As of March 31, 2025, PSBs have 96% of required staff in place. The small gap is due to retirements and other normal exits.

Here’s a simplified summary of the government’s response:

Proposal Status:

The IBA has proposed making all Saturdays bank holidays, moving to a 5-day work week.

Current Situation:

Since 2015, only second and fourth Saturdays are official bank holidays, as per a government notification following the 10th Bipartite Settlement between IBA and bank unions.

Who Decides Staffing Needs:

Public Sector Banks (PSBs) are managed by their own boards. Each bank decides its staffing based on business needs, retirements, and other factors.

Staff Shortage Issue:

As of March 31, 2025, PSBs have 96% of required staff in place. The small gap is due to retirements and other normal exits.

Implementation Timeline:

The government did not share a fixed timeline for rolling out the 5-day banking week.

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Last Updated:August 03, 2025, 22:32 IST

The Press Information Bureau dismissed false claims that India is suspending agreements with the US.

The Press Information Bureau’s Fact Check unit on Sunday officially dismissed social media posts which falsely claimed, citing the Ministry of External Affairs, that India is considering suspending or reviewing bilateral agreements with the United States over “hostile economic policies”.

The fact-check by the Press Information Bureau comes amid speculations over the state of India-US ties after the US administration under President Donald Trump imposed 25% tariff on Indian exports.

The social media statement by PIB clarified that no such statement was issued and labeled the claims as misinformation. “The External Affairs Ministry has not made any such statement. Stay alert and do not fall for misleading information. above is from Govt of India,” the PIB social media post on X said.

It also shared photos of the misleading post where some accounts were seen posting false information with respect to ties between Washington and New Delhi.

This rebuttal comes amid escalating tensions over US tariff actions. The MEA earlier in the week reiterated that India remains in active negotiations with Washington over a trade deal and assured the public that diplomatic ties and economic engagements are intact and ongoing, unaffected by such rumours.

On July 30, 2025, US President Trump announced a 25% tariff on Indian imports, effective August 1, citing high Indian tariffs, restrictive trade barriers and India’s continued energy and defense ties with Russia.

This move sent immediate ripples through export and import sectors of both countries — particularly in the textiles, apparel, gems, jewellery and electronics sector – where exporters and importers fear the new duties could lead to widespread disruptions.

Shankhyaneel Sarkar

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Last Updated:August 03, 2025, 14:14 IST

Minister Pankaj Chaudhary has given the update on the 8th pay commission in a written reply to the Rayja Sabha.

8th Pay Commission: Bringing a cheerful smile on over 1 crore central government employees and pensioners, Minister of State in the Ministry of Finance Pankaj Chaudhary in a written reply to the Rajya Sabha, said that the government has received inputs from various stakeholders and will announce the official notifications in “due course”, according to a report by Financial Express.

Chaudhary noted that the 8th pay commission will make its recommendations within the stipulated timeline that will be given in the ToR.

After an unexpected delay in the constitution of the 8th Pay Commission since the announcement in January 2025, the Central government had geared up to expedite the process by taking consultations with key stakeholders including states, the Ministry of Defence, the Ministry of Home Affairs, and the Department of Personnel and Training, as informed by the Finance Ministry in the Parliament on Monday.

He added that the chairperson and members of the 8th CPC will be appointed once the commission is formally notified by the government.

Every 10 year the government revises the basic salary of its employees and pensions of pensioners in align with the rising cost of living and other expenses.

More than six months after the Centre announced the formation of the 8th Central Pay Commission (CPC), there has been little to no progress on the ground. The expected timeline is now slipping, raising concerns among central government employees and officials alike.

The 7th Pay Commission was implemented in 2016, with revisions effective from January 1 that year. As per the 10-year cycle, the 8th CPC was expected in 2024–25, but delays have sparked concern among government staff and pensioners amid rising inflation.

This commission is set to guide future pay revisions for millions of central government employees and pensioners.

Over 1 crore central government employees and pensioners have been awaiting further details on the 8th Pay Commssion since the announcement of formation in January 2025. While the effective date of the increased income and pensions is six months away, the Centre has yet to finalized the detailed ToR.

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Last Updated:August 02, 2025, 18:49 IST

Salaried individuals earning up to Rs 12 lakh may soon no longer need old-regime deductions, as the new tax system offers near-zero tax.

If you are a salaried employee earning up to Rs 12 lakh annually, this year might be the last time you benefit from deductions under the old tax regime. Starting from the next financial year (FY 2025–26 / AY 2026–27), the new tax regime will make income up to Rs 12 lakh almost tax-free, reducing the need for old-regime tax planning.

Currently, you still have the option to choose between the old and new tax regimes when filing your Income Tax Return (ITR) for FY 2024–25 (AY 2025–26). The deadline to file is September 15 this year. But with new changes coming in, many salaried individuals may shift permanently to the new regime next year.

What You Get Under the Old Regime

The old tax regime allows you to claim several deductions and exemptions:

– House Rent Allowance (HRA)

– Leave Travel Allowance (LTA)

– Interest on home loan (Section 24b)

– Deductions under Sections 80C to 80U (This includes savings in PPF, ELSS, LIC, tuition fees, etc.)

These benefits help reduce your taxable income but come with documentation and planning.

What the New Regime Offers

The new tax regime has fewer deductions but higher income thresholds for rebates. Here is how it compares:

– Rebate under Section 87A: Rs 5 lakh (old) vs Rs 7 lakh (new)

– Standard deduction: Rs 50,000 (old) vs Rs 75,000 (new)

– Maximum rebate: Rs 12,500 (old) vs Rs 25,000 (new)

While some deductions like the standard deduction (Section 16) apply to both regimes, popular ones like HRA, LTA, and home loan interest are only available under the old regime.

Under the new structure, only limited benefits such as employer contribution to NPS (Section 80CCD(2)) and Agniveer Corpus Fund (80CCH(2)) are allowed. Most other tax-saving instruments under Section 80C are excluded.

What This Means for You

The government is encouraging taxpayers to switch to the simpler new regime, which is more straightforward but doesn’t reward investment-based tax savings.

For those earning up to Rs 12 lakh, the new system will result in little to no tax, even without claiming deductions. So, if you are filing your return this year using the old regime, make sure you make the most of it, as it could be the last year these tax breaks are available to you.

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Last Updated:August 02, 2025, 16:55 IST

The annual pass for FASTag will be priced at Rs 3,000 per annum.

Tired of stopping at every toll booth and watching your FASTag balance vanish faster than your weekend plans? The National Highways Authority of India (NHAI) is going to introduce a new annual pass that could be a game-changer for frequent travellers.

The government is rolling out the FASTag annual pass for Rs 3,000 per year, which will provide 200 toll-free travels. The annual pass will expire at the end of the validity period or the maximum limit of the total number of travels, whichever is reached earlier.

The FASTag annual pass is scheduled to be launched on August 15. Your system automatically switches back to ordinary FASTag mode after you reach 200 tolls or the expiry of the one-year validity period, unless you buy a new yearly pass.

Price of FASTag

The FASTag annual pass will be priced at Rs 3,000 per annum. If you are taking 200 trips every year, which makes it to Rs 15 per trip, compared to typical toll rates of Rs 100 or more. So, this will save vehicle owners between Rs 6,000 to Rs 7,000 every year, according to the National Highway Authority of India (NHAI).

How to get FASTag?

· You can apply through the Rajmarg Yatra app, or the NHAI website.

· Enter your registered mobile number, vehicle registration number and FASTag ID.

· Pay Rs 3,000 one time either via UPI, net banking, or debit/credit card.

· Upon successful verification, FASTag will be activated within 2 hours of verification.

· After completing 200 trips or one year, you can renew.

What counts as a single trip under the Annual Pass?

For point-based fee plazas: Each crossing of fee plaza counts as one trip. A round trip (to and fro) counts as two trips.

For Closed Tolling fee plazas: One pair of entry and exit counts as one trip.

Which toll plazas are covered?

It will allow free passage of private car/jeep/van at designated National Highway (NH) and National Expressway (NE) fee plazas. The FASTag will function as a standard FASTag at fee plazas on State Highways (SH), Expressways, etc. that are run by local or state governments.

Is FASTag annual pass mandatory?

The annual pass is not mandatory. Your current FASTag is still completely functional for making per-trip toll payments just like usual if you decide not to buy it.

Is FASTag transferable?

No, FASTag is not transferable, as it is linked to a specific vehicle registration number (VRN) and cannot be transferred from one vehicle to another. Using your FASTag in a different vehicle may result in blacklisting, penalty charges or deactivation of your FASTag.

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Last Updated:August 01, 2025, 17:51 IST

Commerce minister Piyush Goyal outlined the two pillars of the negotiations: one, Viksit Bharat, and two, Atmanirbhar

No fear, no pressure—the government has made it clear that when it comes to dealing with the United States on trade tariffs, this will be the mantra. Commerce minister Piyush Goyal outlined the two pillars of the negotiations: one, Viksit Bharat, and two, Atmanirbhar.

The US negotiating team is expected to arrive for a scheduled meeting on August 25. While New Delhi aims for a favourable deal with one of its biggest trade partners, it has made clear to American negotiators that India does not make deals under pressure or deadlines.

Several reasons support the government’s confidence, as highlighted by the commerce minister. India is a trillion-dollar growing economy and has risen to be the world’s fifth-largest. This growth has captured the attention of global economies and economic experts, giving India a strong bargaining position. Additionally, the recently concluded trade agreement with the United Kingdom sends a strong message to the US and the world: India will negotiate deals that align with its national interest.

Even regarding oil, India refuses to succumb to American pressure. Despite Trump imposing a 10% penalty for buying Russian oil, India has made it clear that it will buy from the supplier offering the best rate to benefit consumers. The ministry of external affairs echoed this stance, stating, “In securing our energy needs, we are guided by what is on offer in the markets and by the prevailing global circumstances.”

According to government sources, Trump has also offered low tariffs to Pakistan and Bangladesh, but this does not concern India, as their trade is negligible. India remains powerful, strong, and resilient. Unlike other heads of state who have sought to persuade the American president to reduce tariffs, the Indian side has refused to compromise. In upcoming meetings with American negotiators, Indian representatives will firmly state their positions: no concessions in the agro sector, no easy access for American products to Indian markets, no GM foods, and no harm to the labour-intensive sector. The government believes American consumers could suffer from these stances since Indian products have flooded the market. Moreover, Tim Cook, the Apple CEO, has publicly praised Indian manpower for its unmatched excellence.

With this high stance, the commerce minister has made it clear that India has nothing to worry about.

Pallavi Ghosh

Pallavi Ghosh has covered politics and Parliament for 15 years, and has reported extensively on Congress, UPA-I and UPA-II, and has now included the Finance Ministry and Niti Aayog in her reportage. She has als…Read More

Pallavi Ghosh has covered politics and Parliament for 15 years, and has reported extensively on Congress, UPA-I and UPA-II, and has now included the Finance Ministry and Niti Aayog in her reportage. She has als… Read More

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Last Updated:August 01, 2025, 17:21 IST

Sri Lotus Developers IPO GMP Today: Its grey market premium currently stands at 28%, indicating strong listing gains for investors.

Sri Lotus Developers IPO GMP Today: The initial public offering of Sri Lotus Developers has been closed today, Friday, August 1. The price of the mainboard issue, which aims to raise Rs 792 crore, has been fixed at Rs 150 per share. On the final day of bidding on Friday, the issue received a 74.10 times subscription, garnering bids for 2,74,25,55,800 shares as against the 3,70,13,726 shares on offer.

The retail and NII participation stood at 21.77x and 61.82x, respectively. The QIB category has received a 175.61x subscription.

The IPO’s grey market premium currently stands at 28%, indicating strong listing gains for investors.

Mumbai-based Sri Lotus Developers, founded in 2015, focuses on luxury and ultra-luxury residential and commercial redevelopment projects, with a developable area of 0.93 million sqft as of June 30, 2025.

Sri Lotus Developers IPO Allotment And Listing Date

The IPO will remain open for public subscription between July 30 and August 1. Its basis of allotment will be finalised on August 4, while its listing is scheduled to take place on August 6, 2025.

Sri Lotus Developers IPO Price & Lot Size

The price band of the mainboard IPO, which plans to raise Rs 792 crore, has been fixed at Rs 150 apiece.

For investors, the minimum lot size for the IPO is 100. It means investors will have to apply for a minimum of 100 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,000 to apply for the IPO.

Sri Lotus Developers IPO GMP Today

According to market observers, unlisted shares of Sri Lotus Developers Ltd are currently trading at Rs 192 against the upper IPO price of Rs 150. It means a grey market premium or GMP of Rs 42, which is 28% over its issue price.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Sri Lotus Developers IPO Quota

Sri Lotus Developers said half of the IPO (49.86%) has been reserved for qualified institutional buyers, 34.9% for retail investors and the remaining 14.96% for non-institutional.

Sri Lotus Developers IPO: Should You Apply?

The IPO of Sri Lotus Developers and Realty Ltd, a Mumbai-based real estate developer focused on luxury and ultra-luxury redevelopment projects in the city’s western suburbs, has received positive feedback across brokerage houses. Analysts cite the company’s asset-light business model, strong financials, and premium positioning in high-barrier micro-markets as key strengths.

SBI Securities

Rating: Subscribe

SBI Securities underscored the company’s asset-light model and net debt-free status, with industry-best EBITDA and PAT margins in FY25.

“We recommend investors to ‘subscribe’ to the IPO at the cut-off price,” the brokerage said.

Reliance Securities

Rating: Subscribe

Reliance Securities noted the company’s significant financial growth, stating that “revenue grew 3.4 times and PAT expanded nearly 7.5 times over FY23–FY25.” The brokerage highlighted improvements in EPS and fixed asset turnover as signs of efficient capital deployment.

“Strong pricing power, a premium brand image, and robust project visibility position it well for sustained growth. Overall, Lotus presents a high-margin, capital-efficient play on Mumbai’s luxury housing boom. Owing to such developments, we recommend to subscribe,” it added.

Anand Rathi Shares & Stock Brokers

Rating: Subscribe for long-term

Anand Rathi emphasised the company’s presence in premium micro-markets like Mumbai’s western suburbs and its customer-centric approach.

“Their asset-light model executed through development agreements with landowners and housing societies minimises capital outlay, supports financial flexibility, and ensures robust operating cash flows,” the brokerage said.

Angel One

Rating: Subscribe (for long-term)

Angel One found the post-issue P/E of around 32.2 times to be reasonable, given the company’s focus on Mumbai’s high-entry-barrier luxury redevelopment space.

“We recommend a ‘subscribe’ rating for long-term investors,” it stated, while also flagging risks such as geographic concentration, regulatory dependence, and execution challenges.

Canara Bank Securities

Rating: Subscribe (for long-term)

Canara Bank Securities highlighted the company’s in-house execution model and unique ‘Blue & Green’ strategy combining prime locations with serene surroundings.

“The brand commands a 20–22 per cent pricing premium, backed by high customer satisfaction and a celebrity client base… we recommend subscribing to the issue for the long term,” it said.

KR Choksey Finserv

Rating: Subscribe

KR Choksey acknowledged that the IPO is priced higher than peers (at 24.5x FY25 EBITDA vs. peer average of 20.7x), but believes it is justified.

“Given its strong growth, asset-light business model, and superior return profile… we assign a ‘subscribe’ rating to its initial issue,” it said.

Mehta Equities

Rating: Subscribe for long-term

Mehta Equities cited expansion into high-value micro-markets like Prabhadevi and Nepean Sea Road, along with strong demand fundamentals.

“We recommend ‘subscribe’ to the issue for long-term,” it said, while noting the premium valuation and high expectations set by notable pre-IPO investors, including Bollywood personalities.

Sri Lotus Developers IPO: More Info

The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component.

Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes.

The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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Last Updated:July 31, 2025, 23:54 IST

Both the investment experts and fund managers said if women are financially independent, it is the first step to investing more

One should be in so much control of their finances that it feels like oxygen or independence day, said investment experts who advised women to achieve financial freedom before anything else. 

“Financial freedom is like oxygen. For women, it should be like independence day. The goal is to be in so much control of your finances that you can say it feels like oxygen to you,” said Bajaj Finserv group president designate (investments) Lakshmi Iyer during her session on ‘The ROI of being she’ at the first-ever Mumbai edition of News18 SheShakti.

Her co-panelist for the session, HDFC MF senior fund manager (equities) Roshi Jain, said if women are financially independent, it is the first step to investing more.

“Investing is all about risk and reward and women inherently have the ability to assess risk a lot better. They know it’s not only about reward but also risk mitigation,” Jain said.

On whether women find it more difficult to navigate personal finance and rely on their male counterparts for it, Iyer said managing money is “gender agnostic”.

“When I started, there was barely one woman in the room. Navigation is all in the mind, you should just go ahead and do it,” she said.

Sharing a light moment, both the women said there are studies to show that women are “better fund managers” than men. 

“Emotional quotient (EQ) and intelligence quotient (IQ), coupled with digital quotient (DQ) these days, are required for this job and women are better at balancing all three and, hence, have a small edge over males,” Iyer said, who enjoys food and films and gave plenty of Bollywood-style advice when it comes to making the right investment.

“Like Vidya Balan said in Dirrty Picture, entertainment-entertainment-entertainment, my mantra for investment is compounding, compounding, and compounding,” she said.

Jain, meanwhile, stuck to asset allocation and equities for all ages.

“Equities is like the Red Bull to your portfolio, gives you the kicker while debt is like ‘nimbu paani’. If you want a kick in your portfolio, you can have equity and if you want stability, you can have nimbu paani any season,” Iyer quipped.

Jain said while there was plenty of financial advice going around when it comes to investment, her father gave her some basic advice.

“Just be yourself and do whatever you want. We don’t realise but this translates into a lot of stuff we do and helps build the confidence we need,” she said.

She also said Indians start investing late in life. “The best time for investment was the last 30 years. We would’ve come very late to the equity market,” she said, adding her only tip for budding investors would be, “mutual funds sahi hai.”

ABOUT SHESHAKTI

The Mumbai edition of SheShakti sets the stage for the grand national celebration in Delhi on August 21. The theme for this year, ‘From Breaking Barriers to Building Bharat’, captures the journey of Indian women.

The event features a diverse line-up of trailblazers, including diplomats, policymakers, business leaders, sportspersons, artists, and media voices. Key dignitaries include Maharashtra Chief Minister Devendra Fadnavis and Ashwini Bhide, Principal Secretary to the CM and MD, Mumbai Metro Corporation from the government; foreign dignitaries like H.E. Ambassador Chavanart Thangsumphant, Thailand Ambassador to India; celebrities like actors Nimrat Kaur, Shriya Pilgaonkar, and Renuka Shahane; sportspersons like Olympian Anjali Bhagwat among others.

News18 SheShakti 2025 celebrates the women who are building India’s future, not just by breaking barriers, but by building the Bharat of tomorrow. The theme of this year, “From Breaking Barriers to Building Bharat,” spotlights women making real change on the ground- creating jobs, driving innovation, transforming communities, and making systems more inclusive. From rural change-makers to tech trailblazers, the initiative brings to life how women are not just disrupting the status quo but building the very framework of a stronger, self-reliant Bharat.

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Last Updated:July 31, 2025, 16:53 IST

Despite billion-dollar offers from Meta, not a single employee from Mira Murati’s Thinking Machines Lab has accepted.

Meta CEO Mark Zuckerberg has been on a high-stakes hiring spree, trying to bring the brightest minds in AI under the Meta Superintelligence Lab. But his latest target, Mira Murati’s Thinking Machines Lab, isn’t budging. Despite Meta offering massive financial packages, not a single employee from Murati’s startup has accepted the deal.

According to Wired, Murati confirmed, “So far at Thinking Machines Lab, not a single person has taken the offer.” These weren’t just generous offers; some employees were reportedly offered between $200 million and $500 million, and in one case, as much as $1 billion spread over multiple years.

Murati’s Team Chooses Mission Over Money

Thinking Machines Lab, founded by the former OpenAI Chief Technology Officer (CTO), has become one of the most-watched startups in AI. What makes it unique is that the company has achieved a $12 billion valuation, all without launching a single product.

Murati’s long-term vision and leadership have been praised in the tech world, and it seems her team is fully aligned with her.

Insiders suggest that employees are staying because of the strong mission and the creative freedom that comes with being in a small, independent company.

Many researchers feel that Meta, despite the money, can’t offer the same sense of purpose or impact. Thinking Machines Lab employees reportedly value the opportunity to help shape AI from the ground up, without being tied to a giant tech firm’s priorities.

Meta Pushes Back, But Concerns Remain

As per the Times of India, Meta’s communications director, Andy Stone, challenged the claims, saying, “We made offers only to a handful of people at TML, and while there was one sizeable offer, the details are off.” Stone’s comment also hinted at tensions over how the story is being portrayed in the media.

Another sticking point may be Meta’s choice to bring in ScaleAI founder Alexandr Wang to lead the Superintelligence Lab. Some Thinking Machines Lab staff reportedly have concerns about his leadership style and experience. There is also a belief that Meta’s AI roadmap focuses more on “AI slop” for platforms like Facebook and Instagram, rather than groundbreaking research.

In the end, it seems money isn’t everything, at least not for Murati’s team.

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The Indian government said it is studying the implications of Trump’s announcement to impose 25 per cent tariffs on Indian goods, along with a penalty from August 1

After announcing 25% tariffs on Indian goods, US President Donald Trump appeared to have softened his stand and kept the doors open for negotiations with India over the trade agreement.

Trump referred to the BRICS grouping and the “tremendous” trade deficit with New Delhi for announcing the 25 per cent tariff.

Calling Prime Minister Narendra Modi his friend, Trump said India doesn’t do much business in terms of business with the US. He also pointed out that India is a part of the BRICS, which he referred to as “a group of countries that are anti the United States.”

When asked if he is open to negotiating with India on the tariffs, Trump said, “We are talking to them now. We will see what happens. India was the highest or just about the highest-tariff nation in the world…We will see. We are negotiating with India right now. They sell a lot to us, but we don’t buy from them…Because the tariff is so high. They have one of the highest tariffs in the world. Now, they are willing to cut it very substantially. But we will see what happens. We are talking to India now. We will see what happens. It doesn’t matter too much whether we have a deal or we charge them a certain tariff. But you will know at the end of this week…”

“Well, we’re negotiating right now, and it’s also BRICS. You know, they have BRICS, which is basically a group of countries that are anti-US, and India is a member of that… It’s an attack on the dollar, and we’re not going to let anybody attack the dollar,” Trump said in the White House.

Trump has said in the past that the BRICS group of Brazil, Russia, India, China, and South Africa wanted to try and take over the “dominance of the dollar”, and he threatened to impose 10 per cent tariffs on the group’s member nations if they did so.

Trump Announces 25% Tariff On Indian Goods

Earlier on Wednesday, Trump announced to impose a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.

The surprise announcement came a day after Indian officials said that a US trade team would visit from August 25 to negotiate a trade deal.

“India is our friend, but we have… done relatively little business with them because their tariffs are far too high… and they have the most strenuous and obnoxious non‑monetary trade barriers of any country,” Donald Trump wrote.

He further criticised India’s defense and energy relationship with Russia, saying, “They have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE- ALL THINGS NOT GOOD!”

Studying Implications of Trump’s Tariff: India

The government on Wednesday said it is studying the implications of US President Donald Trump’s announcement to impose 25 per cent tariffs on Indian goods, along with a penalty from August 1.

“The Government has taken note of a statement by the US President on bilateral trade. The Government is studying its implications,” an official statement said.

India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months.

“We remain committed to that objective,” the statement said.

“The government attaches the utmost importance to protecting and promoting the welfare of farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,” it added.

(with inputs from agencies)

Saurabh Verma

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

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Last Updated:July 30, 2025, 01:32 IST

The US may impose a 20-25% tariff on India, as stated by Trump. Trade talks between the two countries are ongoing, following a Reuters report on US tariffs.

The United States may impose a 20-25 per cent tariff on India. However, the trade talks between the two countries have not concluded yet.

When asked to comment on a report in Reuters that India is preparing to face higher US tariffs likely between 20% and 25%, Trump said, as reported by Bloomberg, “Yes, I think so.”

When the reporter asked if the deal with India had been finalised, the US president said: “No, it’s not.”

Speaking to reporters aboard Air Force One, Trump also called India a “good friend” but said it charges more tariffs than any other country.

Trump said on Monday that most partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. His administration will notify some 200 countries soon of their new “world tariff” rate.

India-US Trade Talks

Union Minister Piyush Goyal has recently said India will secure a good trade agreement with the US by November this year.

“India today negotiates from a position of strength, a position of confidence. It is this very confidence that continuously encourages us to make good free trade agreements… In the future as well, whether it is New Zealand, Oman, the United States, or the 27-nation European Union, India’s agreements will be made with a well-thought-out strategy. Our discussions with the United States are progressing very well. I am fully confident that by the October-November 2025 timeline, we will secure a good agreement, as decided by Prime Minister Modi and US President Trump for a bilateral trade agreement,” he had said.

Meanwhile, US Trade Representative Jamieson Greer told CNBC on Monday that talks with India required more negotiations as Trump was more interested in good deals than quick deals.

India has shown “strong interest in opening portions of its market” though its trade policy had long focused on protecting domestic interests, Greer said.

(with inputs from agencies)

Saurabh Verma

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

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Last Updated:July 29, 2025, 16:53 IST

iPhone maker Apple says its Parkland Mall store, located in the Zhongshan District of Dalian City, will shut its doors on August 9.

iPhone maker Apple is closing one of its retail stores in China for the first time, signalling a rare retreat in a crucial market where the company has been working to revive its sales momentum. The company said its Parkland Mall store, located in the Zhongshan District of Dalian City, will shut its doors on August 9.

Citing shifts at the shopping complex, Apple said, “Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there.”

The Parkland Mall store is one of two Apple locations in Dalian. The other, situated in the Olympia 66 shopping centre about 10 minutes away, will continue operating. Apple added that employees from the closing store will be offered roles at other locations.

In a statement, the company said, “We’re always focused on providing an exceptional experience for all of our customers both online and at more than 50 Apple Store locations across Greater China.”

Apple currently operates about 56 stores in the region, accounting for over 10% of its global retail presence.

The move comes at a time when China’s economy is under pressure from deflationary trends, weakening consumer demand, and declining home prices. Retail sales have underperformed expectations, and global tariffs continue to strain the country’s export-led growth model.

Apple’s sales in China fell 2.3% year-on-year to $16 billion in the quarter ended March 29, falling short of analysts’ estimates of $16.8 billion. Still, the company is continuing to invest in the Chinese market. A new store is set to open at Uniwalk Qianhai in Shenzhen on August 16, with more planned in Beijing and Shanghai over the next year. A location in Anhui province was inaugurated in January.

Apple’s global retail strategy remains in flux. While it continues to expand in key markets such as India, Saudi Arabia, the United Arab Emirates, and the United States, the company is becoming more selective about its physical presence. Recent global closures include stores in Bristol (UK), Partridge Creek (Michigan), and Hornsby (Australia). Apple has also been emphasising online expansion, launching e-commerce operations in new markets like India and Saudi Arabia.

The Parkland Mall exit mirrors a broader exodus by major international retailers. Brands such as Coach, Sandro, and Hugo Boss have reportedly not renewed their leases at the mall in recent years. Earlier this year, the majority shareholder of the complex assumed full operational control.

While Apple continues to grow in select regions, the Parkland Mall closure underscores the company’s evolving approach to retail, shaped by shifting market realities and changing consumer behaviour.

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Last Updated:July 28, 2025, 22:40 IST

Trump’s remark comes days before the August 1 deadline that he has set for countries to finalise bilateral trade agreements with Washington

US President Donald Trump on Monday said his administration will impose a blanket tariff between 15% and 20% on imports to the United States from countries that have not negotiated separate trade agreements.

“For the world, I would say it’ll be somewhere in the 15% to 20% range … I just want to be nice,” Trump said in Scotland, alongside United Kingdom Prime Minister Keir Starmer.

“I would say in the range of 15% to 20% probably one of those two numbers,” he continued, as reported by CNBC.

Trump’s remark comes days before the August 1 deadline that he has set for countries to finalise bilateral trade agreements with Washington. If this 15% to 20% tariff range is imposed by the US, it would be a hefty increase from the 10% baseline tariff Trump announced in April of this year.

The United States has accelerated negotiations with key trading partners as it prepares to impose steeper tariffs starting August 1, targeting dozens of economies with significant trade surpluses.

These tariff hikes stem from a package first announced in April under former President Donald Trump’s directive, introducing a 10 per cent “baseline” levy on most U.S. trade partners. However, the administration has since outlined plans to raise duties further, with new rates exceeding 10 per cent for many nations.

The deadline for these increases — initially set for July 9 — was postponed twice, and is now firmly scheduled for Friday, August 1.

Washington has since expanded the list of countries facing higher tariffs, while simultaneously striking deals to mitigate or cap rates with several partners. Notable agreements have been reached with the European Union, the United Kingdom, Japan, Vietnam, Indonesia, and the Philippines.

One such agreement, unveiled on Sunday, will see a 15 per cent tariff applied to certain EU exports — significantly lower than the 30 per cent rate Trump originally threatened.

Despite these deals, a host of countries, including South Korea and Taiwan remain in line for higher tariffs, with reciprocal rates set to rise beyond the initial 10 per cent. Brazil, which was not on the original list, is also expected to face increased duties following a special directive from Trump citing its trade imbalance with the U.S.

The upcoming tariff increases — imposed under controversial emergency powers — mark a sharp escalation in U.S. trade policy as the administration pushes for more “reciprocal” treatment in global commerce.

Saurabh Verma

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19

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Last Updated:July 28, 2025, 17:04 IST

Omaxe Group secured Rs. 500 crore from Oaktree Capital to boost project delivery in New Chandigarh, Lucknow, and Faridabad.

Omaxe Group has secured Funding of Rs. 500 crore from funds managed by Oaktree Capital Management L.P. (“Oaktree), a Leader among global investment managers specializing in alternative investments.

The funding will strengthen the company’s core and accelerate delivery timelines for residential, commercial, and public-private partnership (PPP) developments, including its infrastructure, commercial, and residential projects. It will also provide growth capital for Omaxe’s ongoing projects across key markets such as New Chandigarh, Lucknow, Ludhiana, and Faridabad, along with flagship developments like Omaxe State in Dwarka, the upcoming integrated township in Amritsar, and a new township project in Indore, to name a few.

“This partnership with Oaktree marks an important milestone in Omaxe’s growth journey. The confidence that a global investor like Oaktree places in our business is a reflection of the strength of our delivery record and our long-term vision. This Fund infusion enables us to move faster on construction, reduce Market Dependence, and strategically invest in new opportunities that align with our core markets. We believe this partnership will enable us to enhance our geographical presence in many more growth cities, multiplying value for both of us.” said Mr. Mohit Goel, Managing Director, Omaxe Ltd.

Mr. Atul Banshal, Director – Finance, Omaxe Ltd., added, “We have taken meaningful steps to strengthen our balance sheet and improve financial flexibility in the last few years, repaying significant debt while delivering consistent sales growth and creating easily monetisable projects funnel. With no immediate liability to repay, most of the funds would be used for faster execution and create additional headroom to explore expansion in select markets. We would like to thank Team Oaktree, for Partnering with us in this Growth Journey”

In the last two financial years, Omaxe has repaid net Rs. 1285 crore to lenders as principal payment, reducing overall net debt to Rs 300 Crores. The company sold properties over Rs. 3000 crore in FY25, further demonstrating its operational momentum and ability to generate strong cash flows.

Omaxe has delivered over 140.17 million sq. ft. of real estate and construction contracting projects to date as of March 31, 2025, with presence in 8 states and 31 cities. Its portfolio includes integrated townships, group housing, shopping malls, office spaces, and infrastructure-led developments, with a focus on timely delivery and long-term value creation for customers and investors alike.

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Last Updated:July 27, 2025, 16:00 IST

Tata Consultancy Services (TCS) will reduce its workforce by 2%, impacting over 12,000 employees, to become more agile and future-ready, according to CEO K Krithivasan.

TCS Layoffs 2025: Tata Consultancy Services (TCS), Indian IT giant, will trim 2% of its workforce, affecting roughly over 12,000 employees at middle and senior levels over the next year, as informed by CEO K Krithivasan in an interview with Moneycontrol.

The move aims to make the IT giant more agile and future-ready amid rapid disruptions in technology.

TCS will cut the employees across the globe where the company has a presence through the fiscal year 2026 (April 2025 to March 2026).

When asked the rationale behind the move, TCS CEO K Krithivasan told Moneycontrol that ways of working are changing and there’s a requirement to be future-ready and agile. He added that they have been calling out new technologies like AI and operating model changes.

Krithivasan said that they have been deploying AI at scale and evaluating skills they will be requiring for the future. “We have invested a lot in associates in terms of how we can provide them with career growth and deployment opportunities,” he added.

Krithivasan argued that they found that there were roles where redeployment hasn’t been effective. “This will impact roughly 2 per cent of our global workforce, primarily at middle and senior levels,” he added in the interview with Moneycontrol.

India’s largest IT services company added 6,071 employees during the April-June 2025 quarter. With this, the total number of TCS employees stood at 6,13,069 as of June 30, 2025. On a net basis, TCS’ headcount increased by 5,090 employees in the first quarter of the fiscal, according to a regulatory filing. Its IT services attrition rate (last twelve-month basis) inched up to 13.8 per cent in Q1 FY26, compared with 13.3 per cent in the previous quarter. The attrition had stood at 13 per cent in the December 2024 quarter.

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Last Updated:July 27, 2025, 16:32 IST

The RBI set the final redemption price for the Sovereign Gold Bond 2017-18 Series II at Rs 9,924 per gram, maturing on July 28, 2025, offering a return of 250.67%.

SGB 2017-18 Series II: The Reserve Bank of India (RBI) has declared the final redemption price for the Sovereign Gold Bond (SGB) 2017-18 Series II, which is due for maturity on Monday, July 28, 2025. This tranche of the gold bond was originally issued in July 2017 and carries an 8-year maturity period.

As per the RBI press release dated July 25, 2025, the final redemption price has been fixed at Rs 9,924 per gram, calculated based on the simple average of closing gold prices between July 21 and 25, 2025.

The original issue price for the bond in 2017 was Rs 2,830 per gram, with online investors receiving a discount of Rs 50. Ignoring interest payouts, this gives investors an absolute return of Rs 7,094 per gram over the 8-year period.

In percentage terms, the return amounts to 250.67%, excluding the semi-annual interest of 2.5% per annum offered under the scheme.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Last Updated:July 26, 2025, 16:23 IST

To analyse stocks and make informed investment decisions, one needs to know market trends, investor sentiment and the financial health of the company.

Investing in equity shares of companies could be lucrative, but it requires more than just following market trends or choosing well-known names. To make the most out of the stock market investments, investors should research every stock they want to buy in advance. The two most popular approaches are technical analysis and fundamental analysis.

Even though each serves a different purpose, understanding both could help you create a prudent financial plan.

Fundamental Analysis: Understanding The Business

The core method focuses on examining the health of the finances of a company, the quality of management, the market situation and the ability to expand. The approach supposes that the intrinsic value of the stock is determined by the performance and fundamentals of the firm.

The key things to remember are:

Financial statements: Review the firm’s income statement, balance sheet and statement of cash flows. Look for revenue expansion, profit margins, debt levels and cash reserves.

Earnings and ratios: Financial statistics like earnings per share (EPS), price-to-earnings (P/E) ratio, return on equity (ROE) and debt-to-equity ratio give information regarding profitability and valuation.

Industry position: Discover how the company is positioned versus the competition. Good market positioning and a competitive edge are key to the value of the company.

Management and governance: Transparency of corporate governance and leadership quality also play significant roles in the long-term performance of a company. Any operational issues or leadership problems could be a red flag.

Macroeconomic factors: More general economic indicators such as interest rates, inflation and government policies affecting a particular sector can also affect a company’s performance.

Long-term investors who are willing to hold on to the stock for many years and understand a company’s value could rely on fundamental analysis to assess the potential growth.

Technical Analysis: Reading Price Movements

Technical analysis relies on the examination of stock price charts and volume. Instead of examining a company’s fundamentals, it considers market psychology, trends and momentum. Technical analysis is often used by analysts, market experts and frequent traders to minimise risks and devise strategies as per emerging trends.

The things to keep in mind are:

Trend lines: They are a useful tool for determining and validating a stock’s movement direction. They serve as support or resistance levels and help traders in identifying upward or downward trends.

Support and resistance: These show the levels where there is significant buying or selling pressure. Support means a price at which further decline is prevented due to potential increases in demand. Resistance stops upward momentum by indicating a level at which selling may increase.

Volume: This indicates how aggressively a stock is traded. The strength of a trend, whether upward or downward, is confirmed by high volume.

Technical analysis is of greater value for short-term to medium-term traders who want to time their entry and exit based on the movement of prices.

Using Both To Make The Right Decision

Most investors combine both approaches. For instance, you may select a company that is fundamentally sound and apply technical analysis to determine when to buy.

Knowledge of both methods does not promise higher gains always, but minimises risks. These analyses help in devising more effective investment strategies.

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A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Delhi, India, India

First Published:

Last Updated:July 26, 2025, 16:43 IST

While 999 gold is the purest form of the yellow metal one can own, 995 gold is used as a standard for trading purposes.

Buying gold on festive occasions and major life events has been an integral part of Indian culture. Apart from its cultural significance, gold is also one of the most popular investment options across the country. Gold is also often preferred as a safe-haven asset globally in case of geopolitical and economic uncertainties.

In the last few months gold price has significantly surged in India amid global uncertainties and rising domestic demand. The price of 24K gold has surged from around Rs 7,800 per gram on January 1, 2025, to nearly Rs 10,000 per gram in July.

With increasing demand, it has also become unaffordable for many potential buyers. For this reason, people are opting for lightweight gold jewellery products made of the yellow metal of lower purity.

With more options, investors also need to maintain higher caution to ensure that they are paying for the right product. Whether it’s 24-karat, also known as 999 gold, or other versions, there is a way to find out the difference.

According to the World Gold Council, gold purity is measured in two main ways: karats and fineness. Karat measures how much gold is mixed with other metals. Fineness shows purity in parts per thousand. For example, 24-karat gold has a fineness of 1.000 (24 ÷ 24) and it’s considered pure gold. On the other hand, 22-karat gold has a fineness of 0.916 (22 ÷ 24). This means that it is 91.6% gold and 8.4% other metals.

What is 999 versus 995 gold?

In simpler terms, 999 gold is also understood as 99.9% pure gold. Also known as 24-karat gold, it is considered the standard for pure gold and is typically available as coins and gold bars. In 999 gold, the remaining 0.1% refers to trace impurities, which can be tiny amounts of other metals.

On the other hand, 995 gold is also a variant of 24-karat gold with slightly more impurities. In this case, for 1,000 grams of purchase, one will get 995 grams of gold mixed with 5 grams of other metals.

While 999 gold is the purest form of gold one can own, 995 gold is used as a standard for trading purposes.

How To Check If a Product Is 999 Gold?

The government-backed Bureau of Indian Standards introduced the hallmarking scheme in 2000 to protect consumers against the adulteration of gold. This scheme was further strengthened by the BIS in 2023.

After March 2023, traders are not allowed to sell gold items without a six‑digit alphanumeric Hallmark Unique Identification Number (HUID). The BIS has also launched a BIS Care application, where consumers can share the details of the HUID embedded on any jewellery to check their authenticity. Based on HUID, the app will share the details of the item, its purity, manufacturer and other aspects.

While HUID-based hallmarking is mandatory for jewellery, the same is not the case for bars and coins. It will still come with a BIS logo and mention of purity, such as 999 or 995 gold on its surface.

You can also put the coin or bar through a vinegar test for any discolouration, which will imply impurity. Additionally, genuine gold is non-magnetic, so using a magnet can help detect the extent of mixed metals.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Location :

Delhi, India, India

First Published:

Last Updated:July 25, 2025, 19:30 IST

Whether it’s a sudden medical expense or any unplanned big-ticket spending, an emergency fund could help to meet such unexpected financial needs.

Life is full of surprises, and emergencies can occur when we least expect them. Just when you believe you have everything under control, life throws a curveball at you. This is why building an emergency fund is crucial for financial stability at any age, especially for senior citizens. Whether it’s a sudden medical expense or a family emergency, having a financial safety net can bring peace of mind and reduce stress.

An emergency fund is a dedicated pool of money set aside to take care of unexpected expenses, guarding you against potential debt. It allows you to cover unforeseen expenses without resorting to high-interest loans or going into debt. Having this financial cushion will also make sure that you don’t borrow money and be stressed with its accompanying interest payments.

For senior citizens, who have reached 60 years of age and above, building an emergency fund is of utmost importance. Here are some key investment instruments for senior citizens to consider:

National Pension Scheme (NPS)

It is a government-backed savings plan scheme for senior citizens. The National Pension Scheme provides financial security and a regular income to secure their future post-retirement. If needed, the scheme allows limited, tax-free withdrawals for specific needs like medical expenses. This scheme also offers tax benefits under Section 80C of the Income Tax Act, 1961, and an additional Rs 50,000 under Section 80CCD (1B).

Senior Citizen Savings Scheme (SCSS)

SCSS offers a secure, risk-free way for retirees to manage savings while earning interest, often at higher rates than standard savings accounts. Specially tailored for individuals aged 60 and above, this government-backed scheme offers secure returns. Currently, the government offers an 8.2% interest rate per annum under the SCSA scheme.

Post Office Monthly Income Scheme (POMIS)

The next savings plan you can consider is the Monthly Income Scheme by the post office. It is a reliable savings plan for senior citizens, providing a fixed income to investors every month. In this government-backed scheme, the investors can put a lump sum amount, and every month it pays 7.4 percent interest on the amount invested. After five years, the scheme matures and individuals can withdraw or reinvest the principal amount.

RBI Bonds

Another investment option, backed by the Indian government, that you can consider is RBI bonds. It offers a fixed interest rate of 8.05 percent per annum, paid semi-annually, ensuring regular income. With a lock-in period of 7 years, the scheme allows senior citizens to withdraw the money after 4 years.

Equity Linked Savings Scheme (ELSS)

Designed with equity exposure, it is a mutual fund that helps investors accumulate wealth while saving on taxes. This scheme has the shortest lock-in period among tax-saving investments, making it the most preferred during emergencies. Moreover, it offers tax benefits within the overall Rs 1.5 lakh per annum limit under Section 80C.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Location :

Delhi, India, India

First Published:

Last Updated:July 25, 2025, 17:02 IST

The tech firm founder rose to fame in 2023 after criticising Elon Musk, who then offered him a job. His latest revelation shows the sky-high offers top AI talent is receiving today

Daniel Francis, an AI expert and founder of the US-based tech firm Abel, has sparked a social media frenzy after revealing he turned down a jaw-dropping Rs 10,400 crore job offer from Meta. The four-year offer from the tech giant has raised eyebrows across the industry, leaving many wondering what made Meta so keen, and why Francis walked away.

The reason for Meta’s interest in Daniel has now been revealed. On social media, he wrote, “Friends! I was offered a salary of Rs 10,400 crore for four years. Even I have never seen this height before. What is going on?” In another post, he added, “I want to tell you that I have turned down that job offer.”

Daniel’s AI Tech Stands Apart

Daniel possesses a unique AI technology, which Meta was keen to acquire to ensure it didn’t fall into the hands of competitors. His technology includes algorithms that generate police reports from body cam footage and send call data automatically.

Daniel first gained prominence in 2023 when he publicly voiced his displeasure towards Elon Musk, who surprisingly offered him a job in one of his companies. His recent revelation highlights the immense offers AI talent is now attracting.

Meta On A Hiring Spree For Top Tech Talent

Meta is actively recruiting top technical staff, with OpenAI CEO Sam Altman stating last month that Meta plans to spend $100 million on hiring. Despite such large offers, no experts from other companies have joined Meta yet.

Meta’s goal is to acquire all innovations in the technical field and build a ‘Superintelligence Lab’, offering substantial packages to AI experts.

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First Published:

Last Updated:July 24, 2025, 23:31 IST

The companies are among 26 other British firms that have secured new business in India under the historic free trade agreement signed by India and UK

In a significant deal for the aviation sector under the historic free trade agreement signed between India and UK on Thursday, Airbus and Rolls-Royce will soon begin delivering aircraft and engines to major Indian airlines as part of contracts worth 5 billion GBP.

More than half of the Airbus aircraft are powered by Rolls-Royce engines. This lucrative deal will not only boost India’s aviation sector but help sustain jobs in various company sites in the UK – namely, Filton, Broughton and Derby. Airbus is headquartered at Blagnac in France, while Rolls-Royce is based out of Derby in the UK.

This deal is part of 26 British companies that have secured new business in India. Deccan Chronicle reported that the International Aerospace Manufacturing Private Limited (IAMPL) – a joint-venture between Rolls-Royce and Hindustan Aeronautics Limited (HAL) – is expanding its manufacturing in Hosur facility with an investment of 30 million GBP.

This deal will further give India access to advanced aircraft and efficient engines like the Rolls-Royce Trent XWB, enhancing connectivity and supporting India’s ambition to expand its commercial aviation infrastructure. 

The free trade agreement (FTA) is aimed at eliminating or reducing tariffs on goods and services traded between India and the UK. This will ultimately increase bilateral trade to USD 120 billion by 2030 and create multiple jobs in both the countries.