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Business Standard - February 26, 2025
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In this issue
February 26, 2025
Big-ticket issuers rush to debt market despite rising yields
State-owned firms look to raise ₹30,000 crore via bonds in coming days
1 min
RBI Frees Up Bank Capital With NBFC Risk Weight Rollback
With bank loan growth slowing over the past year, the Reserve Bank of India (RBI) has decided to reverse its decision to increase the risk weight of bank loans to non-banking financial companies (NBFCs), which will result in a substantial release of capital for banks.
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2 mins
EU seeks stronger commitment from India on tariff cuts
The European Union (EU) expects stronger commitments from India on reducing 'high' import tariffs on cars, wines, and spirits as part of the ongoing negotiations for a free-trade agreement (FTA), a senior EU official said on Tuesday, ahead of the meeting of Prime Minister Narendra Modi and European Commission President Ursula von der Leyen later this week.
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1 min
Centre readies plan to sell up to 20% in 5 PSBs
Govt may consider both OFS and QIP routes for diluting its stake
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2 mins
Next decade about value realisation of AI: McKinsey
For India's over $244 billion IT services industry, growth remains slow amid macroeconomic uncertainties.
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1 min
SAP Labs looks to double productivity gains from GenAI
SAP Labs India is looking to double its customers' productivity gains from using generative artificial intelligence (GenAI) by the end of this year, as the research arm of the German software company applies the technology across the value chain of its clients.
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2 mins
Create ecosystem for banks to offer equity support for startups
SBI Chairman C S Setty (pictured) on Tuesday pitched for creating an \"eco-system\" where banks can offer \"equity support\" to startups in the country.
1 min
CtrlS Datacenters Plans IPO, Eyes ₹9K Cr Investment
Asia's largest Rated-4 data centre operator, CtrlS Datacenters Ltd, is expecting an additional investment of ₹5,000 crore in its datacentre park in Chennai in the next two to five years, taking its entire capacity to around 75 megawatts (Mw).
1 min
Cred detected ₹11K cr in credit card hidden charges
Credit management platform Cred on Tuesday announced a suite of products under the Svalbard brand, including a credit line against mutual funds (MFs), a tool to predict and improve customers' credit scores, and a non-profit entity called Cred Foundation aimed at financial literacy, representing 1 per cent of the Bengaluru-based company's cap table. Founder KUNAL SHAH explains the rationale behind rolling out the machine learning (ML)-powered offering, plans to extend secured credit products, and potential initial public offering (IPO) plans in an interview with Ajinkya Kawale. Edited excerpts:
2 mins
Outcomes matter, not hours of work: India Inc heads
Even as the debate on the work hours continues to divide companies and employees, head honchos from India Inc said that what matters is the outcome.
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2 mins
India has lower exposure to US tariffs than APAC peers: Moody's
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks.
1 min
Delinquencies in 2W segment rose in September: Report
Asset quality of lenders in the two-wheeler portfolio has deteriorated substantially with September 2024 registering the highest portfolio at risk (PAR) in the 31-180 days past due (DPD) segment in the last six quarters driven by top 11-20 lenders, according to a CRIF Highmark report.
1 min
Madras HC upholds 12% GST for rail contracts
In a major relief to contractors in railway projects, the Madras High Court has upheld the 12 per cent concessional rate of goods and services tax (GST) for contract services provided to Rail Vikas Nigam Ltd (RVNL), rejecting the tax department's demand for 18 per cent GST.
1 min
Tata Capital board approves IPO, rights issue
Company must list by September to meet central bank norms
2 mins
EPFO: Fresh formal hirings decline by 3% in December
TAKING A DIP
1 min
ShipMin eyes salt lands for port infra expansion
Last year, DPIIT had sought unused salt lands from Centre and states
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2 mins
Women Spent 71 Mins a Day on 'Work-Related Activities' in '24
10 Minutes More Than in 2019: Mospi Survey
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2 mins
Ericsson to help Airtel shift to 5G standalone
Ericsson will be supplying key 5G equipment to telecom operator Bharti Airtel for seamless transition to a commercially live, full-scale 5G Standalone (SA) network over time, the Swedish telecom gear maker said on Tuesday.
1 min
Revolt Motors expects sales volume to jump 3x in FY26
Electric motorcycle maker Revolt Motors expects its sales volume to nearly triple to approximately 40,000 units in 2025-26 (FY26), driven by new product launches, strong demand, and an expanding dealership network, Anjali Rattan, chairperson, RattanIndia Enterprises Limited, said on Tuesday.
1 min
Maruti Begins Production at Kharkhoda Unit
Maruti Suzuki India (MSIL) on Tuesday said it has started production at its new manufacturing facility at Kharkhoda in Haryana that has an annual production capacity of 250,000 units.
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1 min
After Zara exit, Purple Style Labs leases Mumbai's Ismail Building
After Spanish fashion brand Zara shut its flagship store in Mumbai's Ismail Building, Purple Style Labs (PSL Retail) leased the retail space of 59,350 square feet (sq ft) for five years.
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1 min
UltraTech Lines Up ₹1.8K Cr Capex for Cables Biz Foray
India's largest cement maker UltraTech Cement on Tuesday announced plans to enter the wires and cables business, with an initial capital expenditure (capex) of ₹1,800 crore to be spent over two years.
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1 min
Tesla's India entry likely to be 'slow'
Amid increased buzz around Tesla's entry into the Indian market, analysts feel that the US firm will have to price its models competitively, which is below $30,000 (around ₹26 lakh), to gain a good foothold on the country's roads or volumes may be limited.
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1 min
Creditors Greenlight KTM Debt Restructuring Plan
The restructuring plan for embattled European two-wheeler maker KTM AG, a wholly owned subsidiary of Pierer Mobility AG and backed by India's Bajaj Auto, has been approved by creditors, clearing the way for production to ramp up by March 2025.
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2 mins
FinMin defers PSB review meet to Mar 5
The finance ministry has deferred performance review meeting with heads of public sector banks (PSBs) by a day to March 5.
1 min
Microfinance loan book shrinks 3.5% to ₹3.85 trillion in Dec qtr
The gross loan portfolio in the microfinance segment shrunk by 3.5 percent year-on-year (Y-o-Y) to ₹3.85 trillion during the third quarter of financial year 2025 (Q3FY25) as the period was marked by curtailed funding and strict credit underwriting.
1 min
CBSE okays norms to conduct Class X exams twice a year
The Central Board of Secondary Education (CBSE) on Tuesday approved draft norms for conducting Class-10 board exams twice a year from 2026, officials said.
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1 min
RBI Resets Microloan Risk Weights, Easing Lending Constraints
\"Lowering risk weights will free up banks' capital. It is a positive move for the overall NBFC sector.
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1 min
Delhi lost ₹2K cr due to liquor policy: CAG
A Comptroller and Auditor General (CAG) report, tabled in the Delhi Assembly on Tuesday, has faulted the excise policy introduced by the previous Aam Aadmi Party (AAP) government in 2021 to have caused cumulative losses worth over ₹2,000 crore to the Delhi government.
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1 min
Two PSBs Have Raised ₹8.5K Cr So Far in FY25
Sanjay Agarwal, senior director, CareEdge Ratings, said: \"During the post-AQR (asset quality review) period, the government had infused substantial equity to support credit losses of PSBs. With the banks turning around and having good profits, the government now has significant surplus equity stakes in some banks (vis-a-vis Sebi guidelines). This surplus stake at current values exceeds ₹43,000 crore. A part of the surplus would be used by banks for growth, while the government may look at offloading some of the balance in the secondary markets.\"
1 min
India, EU May Discuss Shared Concerns Over China
Other key areas will include India's role in the Ukraine peace process, shared concerns over China, the India-Middle East-Europe Corridor (IMEC), and artificial intelligence (AI), a senior EU official said on Tuesday.
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1 min
₹ Records Steepest Single-Day Fall in 3 Weeks Against $
The rupee on Tuesday recorded its steepest single-day decline in more than three weeks since February 3 as the Reserve Bank of India (RBI) settled around $5-6 billion offshore forward contracts that were set to expire, said dealers.
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1 min
Advantage Assam Summit: Proposals Worth Over ₹90k Cr Inked
Investment proposals worth over ₹90,000 crore were signed on the first day of the Advantage Assam business summit on Tuesday, with the figure expected to increase substantially by the end of the two-day meet, a senior official said.
1 min
Gap between yields on govt securities and AAA-rated corporate bonds widens to 40 bps
Earlier this week, Indian Renewable Energy Development Agency (Ireda) raised ₹820 crore at 7.40 per cent through 11-year bonds.
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2 mins
MP Investors' Meet Attracts ₹26.6 Trillion in Commitments
The Madhya Pradesh Global Investors' Summit (MP-GIS) concluded here on Tuesday, with Chief Minister Mohan Yadav announcing that they have received a record ₹26.61 trillion worth of investment proposals over the last two days across verticals, which would help create almost 1.73 trillion new job opportunities in the state.
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2 mins
Venus Remedies to develop AMR blocker with UK firm
Venus Remedies is working with UK-based Infex Therapeutics for the clinical development of a drug that helps reduce resistance to beta-lactam antibiotics like Meropenem.
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2 mins
Bitcoin slides below $90K as crypto selloff gathers steam
The Fall
1 min
DeepSeek to Launch New AI Model as China Goes All In
Chinese startup DeepSeek triggered a $1 trillion-plus sell-off in global equities markets last month with a cut-price AI reasoning model that outperformed many Western competitors.
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1 min
Unilever ousts CEO Schumacher, elevates CFO Fernandez
The sudden but consensus move by board is to push for faster growth
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2 mins
Google Loses Fight on Android Auto Access in EU
Alphabet unit Google's refusal to allow an e-mobility app developed by Enel access to its Android Auto platform can be considered an abuse of its market power, Europe's top court said on Tuesday as it sided with Italy's antitrust authority.
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1 min
US sides with Russia on Ukraine vote at UN
In New York on Monday, the US and Russia both voted against an European-backed resolution in the UN General Assembly that calls out Moscow's \"full-scale invasion,\" exactly three years ago.
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2 mins
Anti-US Sentiment in West Bank Bolsters Demand for Local Soda
Order a Coke to wash down some hummus in the Israeli-occupied West Bank these days and chances are the waiter will shake his head disapprovingly — or worse, mutter \"shame, shame\" in Arabic — before suggesting the popular local alternative: a can of Chat Cola.
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1 min
Reply to job mail or get fired: Musk to federal workers
Elon Musk said that federal workers will be given a second opportunity to respond to a government-wide email detailing what they did last week, and threatened to fire any employee who doesn't meet his demands.
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1 min
The Xi Enigma
Ever since Xi Jinping came to power in 2013, there has been a rush among scholars and policymakers to understand him.
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3 mins
Unprecedented visit
Whole-of-government approach to India-EU relations needed
2 mins
More bang for your buck
The Union government's civilian staff is on the rise, but the crucial question is whether it is leading to efficiency gains
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5 mins
Road to Decentralisation
Rural local bodies need to be strengthened
2 mins
Making Every Budget Rupee Count for Cities
As the dust settles on this year's Budget allocation discussions, let's look at a few measures that need attention from the three tiers of government and other involved agencies to get the most bang for the buck from allocations meant for India's cities.
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4 mins
Sebi slaps ₹5 cr fine on ICCL for audit, cybersecurity lapses
The Securities and Exchange Board of India (Sebi) on Tuesday imposed a ₹5.05 crore penalty on Indian Clearing Corporation Ltd (ICCL), a wholly owned BSE subsidiary, for failing to comply with cybersecurity and system audit norms.
1 min
Nifty nears 2nd-worst losing streak in 30 yrs
Amid the fall, one in every five Nifty stock is more than 28% down over the past five months
2 mins
Capex slows in FY25 but key infra, power players set to benefit
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25.
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3 mins
Mkt volatility fails to lift interest in hybrid funds
Inflows, folio additions decline for third month
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2 mins
F&O trading faces reset as Sebi revisits open interest formula
New futures and options risk metrics aimed at closer alignment with cash market
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3 mins
Strong film line-up, lean ops may flip PVR script
Asset-light model, attractive valuation limit downside risks for the stock
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3 mins
CRACKS IN CO-OPS?
Despite RBI's initiatives and interventions, cases of irregularities in urban cooperative banks keep cropping up. A closer scrutiny of the sector might be in order
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5 mins
RIL touts 'brain mapping' to lure IPL advertisers
After striking an $8.5-billion media merger with Walt Disney, Mukesh Ambani is targeting small businesses and promoting unconventional neuroscience studies to boost its revenues from the IPL, the world's most valuable cricket league.
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1 min
IPCC gathers to draft outlines of seventh assessment report
The Intergovernmental Panel on Climate Change (IPCC) gathered in Hangzhou, China, to draft the Seventh Assessment Report (AR7) and a methodology report on carbon dioxide removal technologies.
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2 mins
India's tunnel sector booms amid ecological challenges
As country 'digs deeper', experts stress need for mindful development
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2 mins
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