Business

New Delhi, April 4 IDBI Bank, controlled by LIC, reported a 16 per cent increase in loan growth to ₹2.53 lakh crore for the quarter ended March 2025 on Saturday.The bank's total advances stood at ₹2.18 lakh crore as of March 31, 2025, IDBI Bank said in a regulatory filing.The lender reported a 12 per cent rise in total deposits to ₹3.46 lakh crore from ₹3.1 lakh crore at the end of the preceding financial year's fourth quarter.The bank's total business increased by 14 per cent to ₹6 lakh crore compared to ₹5.28 lakh crore as of March 31, 2025.Meanwhile, Kotak Mahindra Bank also reported higher credit growth compared to deposit expansion. The bank registered a 16.2 per cent rise in advances to ₹4.95 lakh crore from ₹4.26 lakh...

New Delhi, April 4: The share of micro, small, and medium enterprises (MSMEs) in India's GDP will rise to 40 per cent by 2030, from about 30 per cent currently, a report said on Saturday.The report from B2K Analytics stated that India's GDP is projected to reach Rs 537.96 trillion by 2030 if the current growth trend continues, which would increase the contribution of the MSME sector to approximately 40 per cent, or around Rs 215.18 trillion.The report also estimated that the total funding requirement for the MSME sector would be Rs 162.92 trillion by 2030.Out of the total funding requirement, formal credit availability is projected at Rs 78.02 trillion, comprising Rs 56.98 trillion from priority sector lending, Rs 18.57 trillion...

New Delhi, April 4: Europe's fragile economic outlook amid geopolitical tensions could have ripple effects on India's trade and sectoral competitiveness, with India potentially benefiting from a free trade agreement (FTA) with Europe, a new report has said.The report, from EY, noted that India could gain from deeper trade engagement with Europe and increasing competitiveness in sectors such as textiles.Changes in tariff and trade policies by the United States, as well as the West Asian conflict, will act as headwinds for Europe's economy, potentially affecting global trade flows and competition with countries like India.The report highlighted that the recently announced EU-India Free Trade Agreement (FTA) could have mixed sectoral...

New Delhi, April 4 The government on Saturday urged citizens to avoid panic buying of petrol, diesel, and LPG, saying fuel supplies remain adequate despite disruptions linked to the closure of the Strait of Hormuz.The Ministry of Petroleum and Natural Gas said the government is taking proactive steps to ensure the uninterrupted availability of petroleum products and cooking gas, while advising people to rely only on official information and conserve energy.The government has prioritized domestic LPG and piped natural gas (PNG) supplies, particularly for households, hospitals, and essential services, and has implemented measures to boost refinery output and manage demand, including extending LPG refill intervals.Authorities have...

New Delhi, April 4 – The National Agriculture Higher Education Project (NAHEP), launched by ICAR and the World Bank, has increased graduate placement rates and expanded practical training and industry links, a new report has said.The World Bank report stated that graduate placement rates for agricultural degree courses in India rose from 41 per cent to 67 per cent between 2018 and 2023, supported by over 800 formal agreements with companies for internships and placements.About 27 per cent of agriculture graduates earn at least 20 per cent higher remuneration than their peers outside the sector.University incubators supported over 120 start-ups, while private-sector placements at Assam Agricultural University rose from 5 per cent...

Mumbai, April 4 – The National Stock Exchange (NSE) has revised the order-to-trade ratio (OTR) framework for the equity derivatives options segment, with the changes set to come into effect from April 6, in line with SEBI guidelines issued earlier this year.Under the revised criteria, orders placed within a range of (+/-)40 per cent of the last traded price (LTP) of the options premium or (+/-)Rs 20, whichever is higher, will be exempt from the framework for imposing penalties on high OTR.This represents a significant relaxation compared to the earlier norm, under which only orders within 0.75 per cent of the LTP were excluded from OTR computation, resulting in a relatively narrow exemption band.The exchange also clarified that no...

New Delhi, April 4 India said on Saturday that there were no payment issues with Iran for crude imports, and that refiners continue to source oil from the country, as well as from a wide range of global suppliers.In a post on X, the Ministry of Petroleum and Natural Gas dismissed reports that an oil tanker carrying Iranian crude had rerouted mid-voyage from its previously indicated destination of India, which would have marked the first such shipment in nearly seven years, to China, saying the claims overlooked standard industry practice where cargoes can change destination during transit based on trade optimisation and operational flexibility.Describing assertions that the cargo was diverted from its previously indicated...

Mumbai, April 4 – Indian stock markets appear to be entering a consolidation phase, characterized by high volatility and limited clarity on direction, as global uncertainties and mixed domestic signals keep investors on edge, according to market experts on Saturday.Indian equity benchmarks ended the shortened week on a subdued note, reflecting the ongoing uncertainty in the market.The Nifty slipped by 0.47 per cent, while the Sensex also closed lower, marking the sixth consecutive week of decline.Despite the weak headline numbers, experts pointed out an important shift beneath the surface.“In perspective, the market appears to be transitioning into a consolidation phase with high volatility and low visibility,” said Hariprasad K...

New Delhi, April 4 – The United States' Federal Communications Commission (FCC) has proposed a ban on the import of telecommunications and surveillance equipment from select Chinese companies that are deemed to pose a national security risk.The FCC had already decided in 2022 to halt approvals of new models from Huawei, ZTE, Hytera, Hikvision, and Dahua entering the United States. Now, a complete ban, including previously authorized devices, is being proposed, according to a report from Channel News Asia (CNA). Financial news digestThe FCC has sought public comment on the proposed extension of the ban, stating that prohibiting the continued importation and marketing of such equipment is "necessary to protect national security by...

New Delhi, April 4 Sobha Ltd, a real estate firm, reported an 11 per cent increase in its sales bookings to Rs 2,039.3 crore during the fourth quarter of the last fiscal, driven by stronger demand for its residential projects.Its sales bookings, or pre-sales, stood at Rs 1,835.7 crore in the previous year.According to its regulatory filing on Friday, Sobha Ltd achieved its highest-ever annual sales bookings of Rs 8,135.9 crore during the 2025-26 fiscal, up from Rs 6,276.5 crore in the preceding year."Sobha concluded FY26 on a strong note, sustaining the momentum built over the previous three quarters. Despite global uncertainties, including shifts in trade policies and geopolitical tensions in West Asia, the Indian residential...

New Delhi, April 4 – The government on Saturday dismissed reports and social media claims that an Iranian crude oil cargo was diverted from Vadinar in India to China due to payment issues, calling them “factually incorrect” and misleading.The Ministry of Petroleum and Natural Gas has clarified that recent reports suggesting India lost an Iranian oil shipment due to payment problems are not true.The government said India imports crude oil from more than 40 countries, and oil companies have full flexibility to choose suppliers based on commercial needs.“The news reports and social media posts of an Iranian crude cargo being diverted from Vadinar, India to China due to ‘payment issues’ are factually incorrect,” the ministry said in a...

New Delhi, April 4 The Delhi government has tightened norms for the supply of commercial LPG cylinders, making it mandatory for businesses to either have or apply for a piped natural gas (PNG) connection in areas where the network is available, according to an official order.In an order issued by the Food, Supplies and Consumer Affairs Department on April 2, the government amended a key clause of its recently notified policy on distribution of commercial LPG cylinders.Under the revised rules, commercial and industrial consumers will be eligible to receive LPG supplies only if they are registered with the concerned oil marketing company (OMC) and have applied for a PNG connection, wherever the network exists.According to the order...

Jan Vishwas (Amendment of Provisions) Bill, 2026 Aims to Streamline Laws, Reduce Criminal Penalties The Jan Vishwas (Amendment of Provisions) Bill, 2026 proposes significant amendments across numerous Central Acts, targeting the simplification of laws and the reduction of criminal penalties for minor procedural lapses. The legislation seeks to create a more balanced and practical regulatory environment for citizens and businesses alike.The Bill proposes changes in 79 Central Acts administered by 23 Ministries, covering a total of 784 provisions across multiple sectors. Key to the reform effort is the removal of criminal penalties for minor procedural errors, replacing them instead with civil penalties or administrative mechanisms...

New Delhi, April 4: The new labor codes have changed gratuity rules, allowing certain eligible employees to claim gratuity after one year of continuous service, a reduction from the previous five-year rule.The new labor codes, implemented in November 2025, make gratuity available sooner for fixed-term and contract workers on a pro rata basis. Permanent employees still need to complete five years of service to claim gratuity, while there are exceptions in cases of death or disability, according to a report from NDTV Profit.Fixed-term employees are hired by companies for a specific period under a written contract, which may extend for one or two years. Gratuity for such employees will now be calculated on a pro rata basis, reflecting...

Hyderabad, April 4 Indian pharmaceutical exports reached nearly USD 29 billion by February of this financial year, registering a growth of five percent compared to the same period last year, a top official said on Saturday.K Raja Bhanu, Director General of the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), said that the sector, currently valued at approximately USD 60 billion, is projected to grow to USD 130 billion by 2030."Despite global challenges, pharmaceutical exports have been one of the few sectors that has maintained its growth momentum. Pharmaceutical exports during the April-February 2025-26 period stood at USD 28.29 billion, reflecting a growth of 5.6 percent compared to the same period in 2024-25...

Jaipur, April 4 The ongoing conflict in West Asia has begun to impact exporters in the Bikaner region. Shipments of popular food items, such as bhujia, papad, and spices to Gulf and European countries are facing severe disruptions, traders said.Bikaner, known for its namkeen industry, exports large quantities of snacks, spices, and other products to countries in the Gulf region and Europe.However, exporters said that the war has led to delays, rising freight costs, and container shortages, affecting both exports and imports.Ashish Agarwal, a namkeen trader associated with the Bhikharam group, said that escalating input and logistics costs are hurting the industry."Freight charges have increased sharply due to the war, and the...

Mumbai, April 4 – HDFC Bank reported on Saturday a widening gap between credit and deposit growth in the March quarter, as strong loan expansion continued to outpace relatively slower deposit mobilization, keeping the bank's credit-deposit ratio elevated.According to an exchange filing, the bank's gross advances rose by approximately 17 per cent year-on-year (YoY) to nearly Rs 25 lakh crore as of March 31, compared to about Rs 21.4 lakh crore a year ago.On a sequential basis, loan growth remained moderate, largely supported by the retail and SME segments, while corporate lending continued in a calibrated manner. Retail loans once again drove incremental disbursements during the quarter.On the liabilities side, total deposits stood...

New Delhi, April 4 – An LPG tanker bound for India has begun its journey through the strategically important Strait of Hormuz, offering some relief to concerns about energy supplies amid the ongoing conflict in West Asia.The vessel, Green Salvi, is carrying over 46,000 metric tonnes of liquefied petroleum gas (LPG) and is expected to exit the narrow waterway by early morning, according to sources.The shipment is likely to play a crucial role in supporting India's domestic cooking gas supply at a time when global energy routes remain under pressure.Sources said the tanker is not sailing alone. It is leading a convoy of three Indian LPG carriers moving through the Strait, making it the seventh India-bound vessel to cross the...

Mumbai, April 3 India's foreign exchange reserves declined by USD 10.288 billion to USD 688.058 billion during the week ended March 27, the Reserve Bank of India (RBI) said on Friday.In the previous reporting week, the overall reserves had declined by USD 11.413 billion to USD 698.346 billion.The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year, before the onset of the West Asia conflict.The rupee has come under pressure since the start of the West Asia conflict, and the RBI has been intervening in the forex market through dollar sales and has also taken some surprising policy measures to harness the fall.For the week ended March 27, foreign currency assets, a major...

New Delhi, April 3 The one-time duty concession for manufacturing units in SEZs will provide them with limited access to the domestic market while preserving their export-oriented nature, experts said on Friday.However, the relatively modest duty relief somewhat diminishes the potential benefits for these special economic zones (SEZs), as it is not structured around the principle of duty forgone, they added."Consequently, the measure falls short of fully addressing the import substitution objective or significantly incentivising domestic procurement by SEZ units for manufacturing for DTA (domestic tariff area) requirements," said Gulzar Didwania, Partner, Deloitte India.He added that the measure reflects a nuanced shift in India's...