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Mumbai: Banks are increasingly giving loans to borrowers rated prime and above, latest data from an assessor focused on individual credit showed, indicating risk aversion among lenders at a time when job expansions at corporate India have become rather tentative amid an AI-led onslaught on repetitive tasks.Data from credit bureau TransUnion CIBIL showed that the bulk of new loan originations are concentrated among borrowers with a CIBIL score of 730 and above. The shift away from riskier segments is also evident in the declining share of new-to-credit customers, whose proportion of total originations has fallen sharply to 16% in January 2026 from 22% two years ago."The industry's preference for prime and above has gone up and at the same time, the industry is preferring existing-to-credit customers," said Bhavesh Jain, MD and CEO, TransUnion CIBIL. "The industry is preferring higher ticket size loans. Within existing credit also, we have seen an increasing trend wher...

Mumbai: Bank lending to the commercial vehicle (CV) segment faces increasing pressure as the ongoing Iran war has sparked a surge in fuel costs and operating expenses for fleet operators across India.Higher fuel prices are inflating overall logistics costs, prompting fleet owners to defer new vehicle purchases and slowing credit offtake for CV loans. Small fleet operators face the twin threats of compressed cash flows and weakening repayment capacity, a combination that analysts warn could accelerate delinquencies in a segment already showing early signs of stress."We are already seeing customers postpone purchases due to prevailing uncertainty, which is likely to significantly impact fleet utilisation," the head of micro, small and medium enterprises lending at a leading private sector bank said on condition of anonymity. "Any increase in retail diesel prices will sharply affect the commercial vehicle segment, particularly lower-end vehicles. With India's exports cl...

New Delhi: Deloitte has lost senior executives in recent weeks amidst an influx of dealmakers from rival firms that changed its approach to the mergers and acquisitions advisory business, according to people familiar with the matter.Executives who quit include Rajesh Aggarwal, head of debt advisory, Ruchi Sarna, national head of consumer investment banking, and Suresh Atal, a senior partner in transaction advisory, multiple sources said.Their departure could lead to a movement of more executives as typically such moves at professional services firms trigger team movements, sources added.Aggarwal and Atal are likely to move to PwC while Sarna is also expected to move to a rival outfit.PwC recently named Anmol Bhandari, a former Deloitte executive, as head of its transaction services vertical.Deloitte has shifted its focus in mergers and acquisitions advisory to deals above $250 million in value after the firm brought in Rohit Berry from KPMG as president of that vertical about two years...

New Delhi: The Burman family has increased their stake in Religare Enterprises to about 30% in the past month through open market purchases following a restructuring announcement by the company in mid-February, as per multiple stock exchange filings.Purchases were made by investment companies they control and also by certain family members directly, data showed.Burmans are the promoters of consumer goods company Dabur. They also co-own Indian Premier League team Punjab Kings.They acquired 13 million shares in Religare Enterprises between March 18 and March 27, as per data. This took their ownership to more than 100 million shares. Religare has 332.7 million shares outstanding.On February 15, Religare Enterprises announced that it was transferring its lending, investment, broking, ancillary and support services into Religare Finvest. The entity would be listed and shareholders of Religare Enterprises would be offered shares in Religare Finvest in a ratio of 1:1.Religare Enterprises woul...

New Delhi: The Centre has firmed up the rules under all four labour codes and could notify them shortly for implementation in April, officials said.A senior government official told ET that the labour and employment ministry has finalised the rules and these will be notified soon after vetting by the law ministry. The four codes-the Code on Wages, the Code on Social Security, the Industrial Relations Code, and the Occupational Safety, Health and Working Conditions Code-have streamlined India's regulatory framework by consolidating 44 labour laws to 29 provisions.The government had notified the labour codes with effect from November 21, 2025, and had put out the draft rules across the 4 codes in public domain for consultation as mandated by law.Views were received till January, after which they were considered by the ministry to finalise the rules in the central sphere.The rules, once notified, will pave the way for social security for unorganised workers, including gig and platform...

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Jewar’s realty market is flying high as the much-awaited Noida International Airport (NIA) was inaugurated by Prime Minister Narendra Modi on Saturday. An investment of nearly Rs 11,200 crore ($1.2 billion) has been made in the first phase of the project, which will handle 12 million passengers annually. Once fully developed, the airport will have a total capacity of 70 million passengers.Billed as India’s largest upon completion, the six-runway airport is planned across 7,200 acres and counts Zurich Airport International AG as its sole investor.ALSO READ: PM Modi inaugurates Noida International Airport, Delhi-NCR’s second international airport at JewarIt is one of the biggest projects in India’s infrastructure overhaul that has seen billions being poured into building bridges, highways, ports and airports. The success of large-scale projects with foreign investment, such as the Jewar airport, is crucial for India’s economy to continue attracting overseas capital.The Jewar facility is ...

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Reliance Industries Ltd. has set investment banking advisory fees for the planned initial public offering of its telecom unit at about 0.65% of the issue size, according to people familiar with the matter, largely in line with those to be paid by National Stock Exchange of India Ltd.Based on a potential offering size of up to $4 billion for Jio Platforms Ltd., the total fee pool may be as high as $26 million, with the bulk likely to be shared among lead banks such as Kotak Mahindra Capital Co. and Morgan Stanley, the people said, asking not to be identified because the information is private.The fee distribution may ultimately depend on the client coverage from the banks and the company’s own discretion, two of the people said.A representative for Reliance didn’t immediately respond to requests for comment.Jio’s IPO could be India’s largest-ever listing and the first by a major unit of billionaire Mukesh Ambani’s flagship company, Reliance, in almost two decades.Jio’s banking fees are ...

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Mumbai: The sharp re-rating of Indian Premier League (IPL) franchise valuations following recent transactions in Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) is expected to prompt some team owners to explore stake dilution, even as near-term upside at current levels appears limited.Industry executives and analysts said the latest deals have pegged franchise valuations in the $1.6-1.8 billion range, marking a sharp jump from the roughly $900 million benchmark seen in earlier transactions such as Torrent Group's acquisition of a majority stake in Gujarat Titans.This repricing is likely to strengthen the IPL's positioning as a global sports asset class while also nudging existing owners to evaluate partial monetisation opportunities.According to people familiar with the situation, there are early indications that a couple of franchise owners could be informally assessing options around their holdings, potentially influenced by internal shareholder dynamics in one in...

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KOLKATA: A system error at Bank of Baroda may have led some of its home-loan customers to stump up more than what they were due to pay in scheduled monthly repayments in March, multiple people aware of the problem told ET. The public sector bank, its spokesperson said, has taken remedial steps.The bank, said multiple people ET spoke with, charged a higher interest rate by mistake, leading to the deduction of an amount exceeding the scheduled equated monthly instalment (EMI). Alternatively, the bank charged less interest in some cases than it ought to have, its spokesperson said.Several borrowers were also allegedly marked delinquent when there was insufficient balance in their accounts against the higher liabilities, causing panic. To add to their woes, private recovery agents have started chasing them as overdue amounts automatically trigger an alarm. These borrowers have also seen their credit score drop, raising their distress level.A bank spokesperson said that corrective measures ...

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Mumbai: Once sold in bulky tubs mostly to bodybuilders, whey protein is now showing up in sachets and single scoop packs as marketers emulate the playbook of everyday fast-moving consumer goods (FMCG) to drive penetration, affordability and on-the-go consumption amid rising demand."Everyone is becoming more aware of how short on protein they are," said Tarun Arora, chief executive officer of Zydus Wellness. This is pushing protein from a discretionary purchase toward a lifestyle staple.However, high costs, driven by expensive raw materials and supply chains, have historically kept the category out of reach for many, with kilogram packs often priced above ₹2,000. Hence the small packs, which are cheaper to try and easier to carry. 129738045 "Sachets should be a growth mechanism, not a margin lever. It is about lowering friction, not lowering price," Arora said.Companies such as Truebasics, MuscleBlaze, Wellbeing Nutrition and Optimum Nutrition now offer sachet bundle...

Mumbai: When it rains in Dubai, it pours in Mumbai. As the desert metropolis deals with a nervous property market, Indians who used credit cards to buy homes in Dubai are beginning to receive notices from the Enforcement Directorate (ED).These property buyers had either swiped international credit cards (ICCs) on visits to the Emirates to pay the initial deposit or had clicked on payment links sent by UAE developers-probably, oblivious that they were trampling on Indian laws.At least three persons were served notices by the central agency in February, questioning their source of funds for the deals, sources told ET.129737458 Credit card transactions are like short-term loans and foreign exchange regulations prohibit individuals from borrowing to buy foreign properties. The Reserve Bank of India (RBI's) liberalised remittance scheme (LTS) used by resident individuals to buy stocks and apartments abroad requires transfer of tax paid funds through official banking channels.Those stunn...

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SBI Mutual Fund, India's largest asset management company, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an IPO, which will be entirely an offer for sale (OFS) by its promoters. The offer will see the sale of up to 20.37 crore equity shares of face value Re 1 each, with no fresh issue component, implying that the company will not receive any proceeds.State Bank of India, the promoter, will offload up to 12.83 crore shares, while Amundi India Holding will sell up to 7.53 crore shares as part of the OFS. The weighted average cost of acquisition stands at Rs 0.15 per share for SBI and Rs 4.35 per share for Amundi. The total issue size in rupee terms has not yet been disclosed.SBI Mutual Fund operates as the investment manager to its flagship mutual fund business and also offers portfolio management services (PMS), alternative investment funds (AIFs) and offshore advisory services.The company serves over 1.6 crore unique investors as of December 2025 ...

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If there is one learning from the ongoing Iran War, it is this: Now is the perfect time to revisit our energy transition strategy and increase the share of electrons in our economy. They are already a key power source for electricity for Indian households, but we need to cannonball efforts to make it a source for industrialisation -- to manufacture molecules, materials as well as machine learning.Till recently, “electro-states” or countries that are weaning away from their legacy fossil fuel addiction to create an economy that underpins electrification was an abstract concept rooted to a Utopian zero carbon future. But Iran’s strategy of hitting critical oil and gas infrastructure across the Gulf has exposed how inexpensive weaponry like drones can wreak havoc on global energy markets. The ongoing war in the Middle East should be a good window to power our imagination.You may follow our live coverage of the West Asia war hereA core metric of an electro-state is how much of total final ...

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Options traders' fears of a U.S. stock market crash have pulled back nearly to levels seen before the U.S.-Israeli attacks on Iran that made oil prices soar. The Nations TailDex Index and ‌the Cboe ⁠Skew Index, ⁠two separate gauges that measure how much traders are paying for crash protection, have retreated to near where they stood before the February 28 strikes on Iran. The S&P 500 is still down 2% from pre-war levels. "TDEX is signaling that investors are now less worried about a "tail event," or a really steep drop in equity prices, than at any point since the war started," said ⁠Scott Nations, ‌president of Nations Indexes, an independent developer of volatility and option strategy index products. "Given the muted response from the S&P 500, this outlook makes ⁠sense, but it's an important metric to watch," he said. On Monday, the TailDex index was at 18.84, just below its closing level of 19.01 on February 27. The Cboe SKEW index finis...

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New Delhi: How tight is the job market in Bengaluru? How many people are unemployed in Mumbai or Hyderabad? Answers to questions like these may soon be just a dataset away with the statistics ministry planning to release employment data for about 50 cities having more than one million residents each, said government officials.The list of cities to be covered in the survey include Visakhapatnam, Lucknow, Kolkata, Pune, Meerut, Jaipur, Patna, Surat, Gwalior and Chennai, they said, adding that the data could be released in the first half of 2026.The annual periodic labour force survey for 2025 covering states and union territories is slated for release in the last week of March, but a city-wise survey report is expected only in the next few months.129595000 "The sample design (of PLFS) has been modified with district as the basic stratum, which has made it possible to generate estimates for cities," a government official told ET. The PLFS provides information on key labour marke...

BUENOS AIRES: Lionel Messi, perhaps the world's most famous soccer player, never publicly talks about politics.He maintained that silence during a meeting with President Donald Trump last week, but that did not prevent the Argentine star from being dragged into a heated political debate at home.Messi smiled sheepishly at a White House reception for his U.S.-based team, Inter Miami, after Trump seized the occasion to talk about the demolition of Iran's military and regime change in Cuba, turning a routine celebration of Inter Miami's 2025 MLS Cup victory into a polarizing firestorm.President Javier Milei of Argentina, a key ally of the Trump administration, applauded a handshake between his country's most celebrated soccer hero and Trump. At the same time, Trump critics accused Messi of cozying up to the polarizing U.S. president."It felt like a slap in the face," Ángel Cappa, a former Argentine soccer coach and longtime commentator, wrote in a blog post titled...

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New Delhi: Indian refinery executives expect supply pressures to ease partly after the IEA said Wednesday that its 32 member countries will make 400 million barrels of oil available to the market at a pace determined by each country.The timing of the release will be crucial, executives said. If a large volume is released quickly-sufficient to prevent those countries from seeking barrels from the international market -it would make it easier for buyers such as India to secure supplies, an executive said. As pressure on global supplies eases, prices will begin to reflect that, he added.Oil prices shot past $100 per barrel again on Thursday, overlooking the IEA's record release.India received its first crude cargo at Mumbai port from the Gulf region on Wednesday afternoon since the Iran war began on February 28, according to shipping data. It was a Liberia-flagged tanker that started its journey on March 3 from Saudi Arabia's Ras Tanura port and reportedly turned off its transpond...

China's leaders wrapped up nine days of annual legislative meetings in Beijing on Thursday, projecting an image of domestic stability seemingly unaffected by the war in key trading partner Iran.Officials under President Xi Jinping vowed to boost domestic consumption and invest in new technologies including artificial intelligence to drive growth, while making few changes to China's policy roadmap for the next five years.There was also little signalling whether the United States and Israel's ongoing strikes against Iran Would disrupt US President Donald Trump's expected visit to Beijing this month.This year's "Two Sessions" political gathering saw Beijing announce a steady seven-percent boost to China's annual defence budget, and approve laws on development planning, ethnic unity and a new environmental code. from Economic Times https://ift.tt/ut87OBz

Mumbai: The probability of a further cut in India's policy interest rates in the current easing cycle has significantly reduced, economists told ET, citing the risks of supply disruptions and oil-fed imported inflation due to the West Asia crisis, and the end to a favourable base effect that had made recent food price increases seem rather modest.They said the Reserve Bank of India's move to hit the 'pause' button on rates could quickly change if inflation rears its head yet again. Sustained foreign outflows from Indian growth assets and the consequent pummelling of the rupee - on course to be Asia's worst currency this year, - could force the RBI to act sooner on rates than previously thought."The chances of a long pause for which the market was preparing before this crisis have certainly diminished. Of course, the RBI would not take the call immediately," said Indranil Pan, chief economist, Yes Bank. "It is fair to assume that there will be no actio...

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New Delhi: As the mercury starts rising, leading room airconditioner makers are increasing prices in the range of 5-15% to offset sustained increases in raw material costs and supply chain expenses.The hikes, being rolled out between February and April, come just ahead of the peak summer season when demand typically surges.Leading players, including Daikin, Voltas, Blue Star, LG, Haier, and Mitsubishi, have announced increases across models, passing on higher input costs for key raw materials such as copper, a weaker rupee, new energy-efficiency norms and an increase in freight costs.Industry executives said while adjustments are unavoidable, they expect strong sales momentum this year, aided by forecasts of a hotter summer and improved energy savings from new star-rated models.Daikin India is going to increase prices by up to 12% from April, and the hike in prices would depend on model to model, its CMD, Jawa, told PTI."New energy norms have come, which have made products more ef...

New Delhi: India is cautiously optimistic after rapper-turned-politician Balen Shah's Rastriya Swatantra Party (RSP) swept the Nepal general election and is looking forward to working with the new government to advance economic and security partnership, said people familiar with the matter.Shah, 35, who is expected to become Nepal Prime Minister, has an Indian connection: he did his master's in structural engineering from Visvesvaraya Technological University in Karnataka after receiving a bachelor's degree in civil engineering in Nepal.Nepal's traditional political parties, which were removed from power after the September 2025 street protests, which left 70 people dead, have been trounced in the polls as they were seen as corrupt and non-performing. The RSP was earlier part of the Pushpa Kamal Dahal (Prachanda)-led government in 2022-23.Shah enjoys a massive following in the Himalayan Kingdom. As mayor of Kathmandu, he focused on improving the urban infrastructure, su...

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​President Donald Trump ​on Wednesday sent the U.S. Senate his nomination ​of former Federal Reserve governor Kevin Warsh to be the U.S. central bank's next chair, ticking off an early step in what ‌promises to ⁠be ⁠a contentious path toward his long-held goal of installing a rate-cut ​friendly Fed chief. Warsh, who would take over from Jerome Powell after ​his leadership term ends May 15, would serve a four-year-term that began February 1, according to a notice on ​the White House website. That's the ⁠seat currently ‌occupied by Fed Governor Stephen Miran, another ​rate-cut advocate ​whom Trump nominated in September.The next public ⁠step in the process is a hearing ​by the Senate Banking committee; a spokesman for ​the panel did not immediately respond to a request for information on the timing.One of the committee's members, Republican Senator Thom Tillis, has promised to block any Fed nomination as long as a Department of ‌Justice investigation into Powell regarding his...

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Reserve Bank of India governor Sanjay Malhotra told Sangita Mehta and Sruthijith KK in an interview that India's Goldilocks phase can be sustained as macroeconomic fundamentals have strengthened over the decades while cautioning that global uncertainty, climate risk and technology disruptions continue to pose challenges. Policy rates are likely to stay at current levels or even go lower for an extended period, he said, provided there are no shocks. Malhotra also touched upon the economy, inflation, electronic payments, non-bank lenders, artificial intelligence and the insolvency code among other matters. The interview took place before the West Asian conflict began. Edited excerpts:Given the change in tariff assumptions and the latest inflation and GDP data, have you revised your growth and inflation outlook?In the recent MPC (monetary policy committee) statement, we mentioned that in view of the forthcoming revision in the base year and methodology, we will be giving the full-year...