Public sector bank Union Bank of India on Friday announced waiving penalty charges for not maintaining the minimum balance amount in general savings accounts. The direction is effective from the quarter ending September 2025. “In alignment with the spirit of financial inclusion and customer-centric banking, Union Bank of India now waives charges for non-maintenance of
Bajaj Finserv on Thursday reported a 30 per cent year-on-year rise in consolidated net profit at Rs 2,789 crore for the first quarter of FY26, compared to Rs 2,138 crore in the same period last year. However, its lending arm Bajaj Finance has reported a decline in asset quality. Bajaj Finserv: Revenue rises 12.5 per
Indian equity markets closed on a lower note for the second consecutive session. The Nifty 50 closed the session over 200 points lower, just saving 24,800, and the Sensex ended the day more than 700 points or 0.88% points lower at 81,460. The Nifty Bank settled almost 530 points lower at 56,500. In line with
The government will adopt a “prudent debt management” strategy while deciding on launching new tranches of Sovereign Gold Bonds (SGBs) since the priority now is to lower the cost of borrowings, the finance ministry has said. The last tranche of SGBs (Series IV 2023-24) was launched in February 2024. Since February 2024, the precious metal
Dr Reddy’s kicks off India’s big pharma earnings season with a narrow profit miss. The pharmaceutical company reported a profit of Rs 1,409.6 crore, up 1.26 per cent from the same quarter last year (Q1FY25). Revenue rose 11.37 per cent year-on-year to Rs 8,545.2 crore from Rs 7,672.7 crore. Here are key highlights from Q1FY26
Over the past one-week leading IT service companies have reported lackluster June 2025 quarter results and investors on Dalal Street did not expect anything different from Infosys. The company reported its results after the close of Wednesday trading. The Infosys stock ended Wednesday trade 0.9 % lower at Rs 1556. Performance in the June 2025
Central government employees and pensioners across India are closely watching developments around the upcoming 8th Pay Commission, which is expected to significantly increase salaries and pensions. According to a recent report by Ambit Capital, the new pay structure could lead to a 30–34% hike in overall remuneration, impacting over 1 crore employees and retirees nationwide.
HDFC Bank has reported a 1.31 per cent decline in its consolidated net profit to Rs 16,258 crore in its first quarter results against Rs 16,475 crore a year ago. However, it reported a 12.2 per cent increase in its standalone net profit to ₹18,155 crore, up from ₹16,175 crore last year. The bank’s performance was
Health insurers may need to raise premiums by 3–5% to offset the loss of input tax credit (ITC) after the full GST exemption on individual life and health policies, Kotak Institutional Securities said in a report. The brokerage noted that despite a possible price hike, customers would still benefit from a 12–15% reduction in prices
The tax reforms unleashed by the government has missed an important segment of fast-moving consumer goods (FMCG), namely, detergents. The Rs 45,000-crore category, among the largest FMCG segments in India, continues to attract an 18% GST. There has been no rationalisation of tax there, even as some other daily-use items such as soaps, hair oils
Quant Mutual Fund is all set to make a first entry into the new-asset class Specialised Investment Fund allowed by Sebi. Founder & CIO Sandeep Tandon tells Ananya Grover that investors should not look at it in isolation but as a combination with other mutual funds. Excerpts: How should an investor look at SIFs from
To make India’s tax system simple and transparent, the government has announced historic reforms in the 56th GST Council meeting. The four tax slabs applicable till now have been reduced to only two major rates – 5% and 18%, while a special 40% slab has been introduced for luxury and harmful products or ‘sin goods’.
Kaynes Semicon, the semiconductor subsidiary of Kaynes Technology, is set to deliver its first chip from its outsourced semiconductor assembly and testing (OSAT) facility in Sanand, Gujarat, by the first week of October. The milestone comes less than 11 months after receiving approvals in September last year, reflecting one of the fastest execution timelines in
