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Sebi probing IndusInd Bank's senior management for 'egregious violations'
Sebi is investigating IndusInd Bank's senior management for potential securities market violations related to a Rs 3,400 crore accounting fraud. The RBI is conducting the primary investigation. The bank acknowledged employee involvement and initiated internal audits after identifying discrepancies in derivatives, microfinance, and balance sheet disclosures. Despite a significant net loss in the March quarter, IndusInd Bank shares recovered slightly.
FLY91 announces 50% discount on base fares for defence personnel
FLY91 is now offering a 50% discount on base fares for Indian armed forces personnel and their immediate families as a token of appreciation. The regional airline is also providing dedicated seating and an additional 5 kg baggage allowance. This initiative reflects FLY91's commitment to national service and acknowledges the dedication of the armed forces.
When will Trump’s $5 million gold card visa be launched? US Commerce Secretary Lutnick provides big update
The US Commerce Secretary announced a new "gold card" visa program, initiated by President Trump, aimed at attracting wealthy international investors. Requiring a $5 million investment, it offers permanent residency, work authorization, and a path to citizenship, potentially replacing the EB-5 program. Strong interest is anticipated, with the initiative framed as a strategy to reduce the national debt.
BSE Sensex rejig: BEL to replace IndusInd Bank, Tata Group’s Trent to oust Nestle from June 23, 2025
The BSE Sensex is set for a rejig in June 2025, with Trent replacing Nestle India and Bharat Electronics Limited (BEL) stepping in for IndusInd Bank. This change reflects Trent and BEL's strong performance compared to Nestle India and IndusInd Bank's struggles.
Lupin introduces Honeywell Solstice Air inhalers for sustainable respiratory care
Lupin is now utilizing Honeywell’s Solstice Air in its respiratory inhalers, significantly improving respiratory care with propellants that have near-zero global warming potential. This advancement, designed for asthma and COPD patients, reduces greenhouse gas emissions by up to 99.9% compared to traditional HFC-based propellants, marking a substantial stride in decreasing carbon emissions.
RBI set to announce dividend payout to government for 2024-25 FY
The RBI is likely to announce a higher dividend payout to the government for fiscal year 2024-25, potentially exceeding the previous year's record of Rs 2.1 lakh crore. This decision follows a review of the Economic Capital Framework and aligns with the Union Budget's expectations of increased dividend income.
Khandelwal steps down as Deutsche India CEO, to focus on startups
Dilipkumar Khandelwal has resigned from his roles as CEO of Deutsche India, head of global technology centres, and MD & global CIO corporate functions at Deutsche Bank after five years. He is set to explore opportunities in the startup ecosystem.
Accenture to promote 43,000 employees in India in FY25
Accenture is set to promote 43,000 employees in India during the 2025 financial year, marking a significant increase. This is part of a larger global promotion cycle impacting 50,000 employees. The company shifted its promotion cycle to June for better client demand visibility. In addition to promotions, a substantial majority of employees in India will receive base pay increases.
Adani Group posts record EBITDA of nearly Rs 90,000 crore in FY25; boosted by infrastructure growth
The Adani Group reported a record pre-tax profit of nearly Rs 90,000 crore for FY25, driven by strong operational performance and financial management. EBITDA grew significantly, reaching Rs 89,806 crore, with a notable improvement in the net debt-to-EBITDA ratio. The group's expansion into infrastructure and renewable energy contributed to increased gross assets and enhanced international credit ratings.
Government to auction Rs 27,000 crore in securities, split into two tranches
The government is set to re-issue dated government securities totaling Rs 27,000 crore on Friday, split between securities maturing in 2029 and 2054. The Reserve Bank of India will conduct the underwriting auction using a multiple price-based method. This move aims to enhance transparency and promote better investment planning, contributing to the stability of the Government Securities market.
‘One of the biggest gaps…’: When Anupam Mittal slammed 'haan haan samajh gaya' culture, said asking questions not a sign of weakness
Anupam Mittal, Shark Tank judge, recently addressed workplace miscommunication on LinkedIn. He noticed Indian employees hesitate to seek clarity due to fear of embarrassment. Mittal contrasts this with US culture, where asking questions is encouraged. He suggests strategies like asking employees to repeat instructions and observing body language. Mittal emphasizes that effective communication means being understood well.
Fitch upgrades India's medium-term economic growth outlook to 6.4%, Chinese forecast trimmed
Fitch Ratings has increased India's medium-term GDP growth potential to 6.4%, driven by a stronger labor force participation. Conversely, China's growth forecast has been lowered to 4.3% due to property market stress and declining labor participation. This revision indicates a shift in global growth dynamics, with India showing promising economic prospects while China faces structural challenges.
Honda announces massive Rs 920 crore investment to expand capacity at Vithalapur plant
Honda Motorcycle & Scooter India (HMSI) is significantly expanding its Vithalapur plant in Gujarat with a Rs 920 crore investment. This expansion will boost the plant's annual production capacity by 650,000 units, reaching a total of 2.61 million by 2027. The move is expected to generate 1,800 new jobs and help HMSI meet rising demand in the Indian two-wheeler market.
Donald Trump's trade policy volatility deters business investment; could trigger global slowdown: Report
Nomura Research Institute's analysis reveals that trade tariff uncertainty under President Trump is causing businesses to postpone or reduce investments, potentially leading to a global economic slowdown. The unpredictability of US trade policy is dampening investor sentiment, with financial markets experiencing declines in equities, bonds, and the dollar.
India's private sector growth touches 13-month high in May, buoyed by services: HSBC
India's private sector experienced a significant acceleration in May, achieving its fastest expansion in over a year, according to HSBC Flash PMI data. The surge was primarily driven by the services sector, which saw a 14-month high in output. While manufacturing showed mixed signals, overall private sector activity reached a 13-month peak, fueled by strong demand and renewed business confidence.
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