Axis Bank weighs raising stake in its insurance venture to 30%
INDIA BUSINESS | Mon, 20 Jul 2026, 1:11AM IST
In June 2026, Axis Bank announced a further investment of up to ?381 crore in Axis Max Life Insurance, taking the combined shareholding of Axis Bank and its subsidiaries-Axis Capital and Axis Securities-from 19.02% to 19.99%. Max Financial Services holds 80.01%.
Continue reading at Economic Times
1h
RBI asks banks to clear old trade and payment mismatches
INDIA BUSINESS | Mon, 20 Jul 2026, 1:04AM IST
The RBI has asked banks to resolve long-pending mismatches between trade and payment records worth thousands of crores. Banks must verify documents and transactions to regularise genuine export-import cases. Clearing old EDPMS and IDPMS entries could improve compliance, prevent businesses from being flagged and ensure more accurate trade data.
Continue reading at Economic Times
1h
Banks to clear old trade, payment mismatches
INDIA NEWS | Mon, 20 Jul 2026, 1:04AM IST
Mumbai: For years, missing numbers, lost documents, and wrong entries have led to mismatches between trade and payment flows, growing over time and lying unreconciled with banks. Now, the Reserve Bank of India (RBI) has told banks in a recent meeting to reconcile the figures and close the matters.Banks will have to find ways to regularise the cases, worth thousands of crores, cross-check other documents, client statements, and track-records to conclude that these old exports and imports were indeed backed by actual, even if delayed, transfer of funds. "We were told to look into this, take a call and sort it out. But, in the absence of any regulatory waiver, banks would want to be in a position to explain their position if asked during annual inspection," a senior banker, who attended the meeting in June, told ET.Last October, the RBI permitted exporters and importers to close outstanding or unmatched entries up to 10 lakh per shipping bill or bill of entry with their authorised dealer banks on the back of a simple self-declaration. This helped in reconciling many small cases, long unattended and mostly with state-owned banks.Addressing other cases pertaining to larger amounts could help businesses avoid being grey-listed in future and make some of the macro numbers more authentic.132501147"A large chunk of the backlog is comparatively small-value transactions. Chasing full documentary reconciliation can be unjustifiably costly. There's a flip side too: rulings and Enforcement Directorate (ED) actions show how unreconciled export bills left unattended for long can escalate. An open EDPMS entry isn't dormant data - it's a compliance flag that Customs and ED can and do act on. Here's what I feel RBI maybe signalling to banks: clear the genuine backlog quickly through self-declaration, but don't let that efficiency drive be an excuse to stop watching the entries that actually carry risk," said chartered accountant Isha Sekhri.EDPMS (or Export Data Processing and Monitoring System), introduced by RBI in 2014, is a digital platform to monitor forex flows related to exports. But exporters and banks have faced challenges in resolving entries. Such outstandings stem from stating different purposes in the Foreign Inward Remittance Certificate, credit notes from exporters, and unavailability of supporting documents against old entries, particularly posy mergers and amalgamations.According to Suhas Bendre, former banker and FEMA consultant, sometimes banks charge up to 3,000 a entry to reconcile such outstandings. "RBI," said Bendre, "should explore an amnesty window, similar to the one introduced for Overseas Direct Investments in August 2022, for a period of one to two years for closure of EDPMS entries outstanding for over 7 years - the standard retention period for records - based on audited statements and other documents. It may also impose a late submission fees on exporters."An exporter 'caution-listed' by regulator or ED can face financing and shipping restrictions. Some think resolving pending issues would help banks. "With RBI decentralising the administration of export and import regulations from October, banks are expected to face a significant increase in workload. Besides handling cases that earlier required RBI approval, they will also begin processing service export form filings. So, any regulatory nudge to clear pending EDPMS/IDPMS entries may be prudent," said Harshal Bhuta, partner at the CA firm P.R. Bhuta & Co which deals with international tax and FEMA matters.
Continue reading at Economic Times
1h
DTH, cable companies seek tech-neutral rules under new telecom regime
INDIA BUSINESS | Mon, 20 Jul 2026, 1:03AM IST
The television distribution industry in India is calling on the government to adopt technology-neutral regulations as the Ministry of Information and Broadcasting prepares new authorization guidelines. Industry stakeholders are advocating for equitable treatment across satellite, cable, and internet platforms, while pressing for the implementation of the long-overdue recommendations from the Telecom Regulatory Authority of India to combat regulatory imbalances and a shrinking pay-TV sector.
Continue reading at Economic Times
1h
West Asia war woes have hospitality pros looking homeward
INDIA BUSINESS | Mon, 20 Jul 2026, 1:00AM IST
Indian hospitality professionals are increasingly seeking jobs back home from West Asia. Regional tensions and industry slowdown have triggered this significant influx of applications. Professionals cite fewer tourists and pay cuts as key reasons for their return. India's expanding hospitality landscape offers more senior leadership opportunities. Architects and designers are also exploring opportunities within India.
Continue reading at Economic Times
1h
India emerges top bet for global realty capital, says Simon Shaw, Group CEO, Savills
INDIA BUSINESS | Mon, 20 Jul 2026, 12:59AM IST
India is emerging as a preferred destination for long-term global real estate investment amid geopolitical uncertainty, driven by its strong economic growth, young workforce, expanding talent pool and infrastructure development, Savills Group CEO Simon Shaw said.
Continue reading at Economic Times
1h
INDIA BUSINESS | Mon, 20 Jul 2026, 12:57AM IST
Alcon is significantly increasing its investments in India's eye care market. The company sees India as a crucial emerging growth market for its future. Rising eye disorders among younger Indians are a key driver for Alcon's expansion. Alcon plans to enhance innovation and surgeon training programs across the nation. Future manufacturing in India is also being actively evaluated by the company.
Continue reading at Economic Times
1h
Ethanol could soon make its way to Indian kitchens
INDIA BUSINESS | Mon, 20 Jul 2026, 12:54AM IST
India's petroleum ministry is developing a policy for ethanol as a mainstream cooking fuel. This initiative aims to reduce dependence on imported liquefied petroleum gas. The government may introduce subsidies to encourage ethanol adoption and build necessary infrastructure. India's significant ethanol production surplus supports this potential transition. Oil companies are researching and developing ethanol-based stoves and dispensing systems.
Continue reading at Economic Times
1h
Ethanol could make its way to Indian kitchens
INDIA NEWS | Mon, 20 Jul 2026, 12:54AM IST
Mumbai: The petroleum and natural gas ministry is working on a policy framework to introduce ethanol as a mainstream cooking fuel, according to industry executives aware of the development.To promote ethanol usage, the policy will look at the terms of providing subsidies and building the supply chain. Industry bodies representing fuel suppliers are also said to be in parallel consultations with the government on the framework."An alternative clean cooking policy is in the works that would help ethanol to be adopted alongside LPG (liquified petroleum gas) as a household cooking fuel," said one of the executives, who did not wish to be identified adding that the policy could be ready by September.Queries sent to the ministry did not elicit a response till press time.Ethanol is a green fuel produced by the fermentation of sugars and good grains.In April, ET had reported that at the behest of the government, ethanol-based cooking stoves were being tested as a cleaner household fuel alternative.132501009Using ethanol as a cooking fuel will help India reduce its dependence on LPG and save on its expanding fuel bill."To promote ethanol cooking, the government may roll out some sort of a subsidy scheme too that would be capital-driven (a one-time investment support) or an ongoing fiscal commitment," said a second industry executive.The push for ethanol as a cooking fuel comes as India is flush with ethanol supply. The country's ethanol production capacity has crossed 20 billion litres a year, with another 4 billion set to come onstream in this financial year, CareEdge Ratings said in a May report.After about 11 billion litres a year is used for the government's E20 blending programme, liquor makers, pharmaceutical companies and chemical manufacturers consume another 3-3.5 billion litres, leaving nearly 7 billion litres of unused capacity.With this surplus capacity India may also look at exporting ethanol to neighbouring countries, including Nepal, Bangladesh and Indonesia, which have 10% ethanol blending targets but lack adequate feedstock and distilling capacity.Oil marketing companies are also said to be engaging on the issue and have undertaken research and development of ethanol-based stoves, and are also looking for a possible partnership or acquisition of available ethanol cooking technologies.Industry executives added that to launch the scheme, the oil marketing companies could be asked to launch ethanol automated teller machines (ATMs) for users to procure ethanol in canisters for the stoves. These ATMs could be positioned at the fuel retail outlets of the oil companies."We all saw how the West Asia war impacted India's LPG supply. It is a good option to use excess ethanol capacity as an alternative fuel to LPG and reduce imports of the fuel," said another industry executive.Though India has diversified its LPG sourcing since the West Asia war began on February 28, the country still depends heavily on Gulf nations for LPG imports, a significant portion of which moves through the Strait of Hormuz. The state-run oil marketing companies are preparing a nearly 30-day strategic LPG storage plan to bolster energy security after the Iran war exposed India's supply risks through the critical waterway.Transitioning to e-cooking and biogas could save India more than Rs 2 lakh crore ($24 billion) in cumulative LPG subsidies by 2050, said a report titled 'India's Clean Cooking Shift: Scaling non-fossil fuel solutions' by the International Institute for Sustainable Development, released in February.
Continue reading at Economic Times
1h
As things change, IIMs take a new course with engineering
INDIA BUSINESS | Mon, 20 Jul 2026, 12:48AM IST
Top Indian IIMs are admitting more non-engineers into their programs. This shift reflects a growing recruiter demand for interdisciplinary thinking and varied problem-solving. Non-engineers now form a significant portion of new batches at leading management institutes. This trend is driven by admissions policies that value academic and gender diversity. Recruiters are actively seeking candidates from a wider range of educational backgrounds.
Continue reading at Economic Times
1h
INDIA BUSINESS | Mon, 20 Jul 2026, 12:48AM IST
Expected FCNR(B) deposit inflows are now projected at fifty to fifty-five billion dollars. Taxation complexities for nonresidents and tighter West Asian liquidity are impacting these mobilizations. Early estimates had not fully factored in the tax impact on non-resident Indians. The Reserve Bank of India's special incentives for this program will conclude on September thirtieth. HDFC Bank is pursuing a three-pronged approach to maximize its deposit mobilization efforts.
Continue reading at Economic Times
1h
In Graphics: Ancient epic racks up wiki traffic amid movie buzz
INDIA BUSINESS | Mon, 20 Jul 2026, 12:48AM IST
Movie buffs are turning to Wikipedia to do their homework before heading to theatres: traffic on the page with the entry on Odyssey the epic crossed 300,000 a day over the weekend, making it the second-most read page after the one about the film itself.
Continue reading at Economic Times
1h
Regime change lifts hopes of realtors in West Bengal
INDIA BUSINESS | Mon, 20 Jul 2026, 12:43AM IST
West Bengal's new government is expected to boost real estate activity significantly. Developers anticipate land reforms, including the repeal of a key act, to unlock development. Investment commitments exceeding 28,000 crore have already been secured by the state. Enhanced connectivity and swifter government approvals will further accelerate sector growth. The state is well-positioned to become a leading growth engine for Eastern India.
Continue reading at Economic Times
2h
Manufacturing emerges as new growth engine for Indias GCC office demand
INDIA BUSINESS | Mon, 20 Jul 2026, 12:26AM IST
India's Global Capability Centres are expanding significantly into manufacturing and other industries. These centers are now handling product development and innovation, not just back-office tasks. GCCs leased substantial office space, driving demand for Grade A assets across cities. This diversification reduces reliance on technology firms for commercial real estate growth. India's skilled talent and cost advantages continue to attract global companies for these functions.
Continue reading at Economic Times
2h
Middle East peace, reconstruction can help stabilise steel market: JSW Steel JMD Jayant Acharya
INDIA BUSINESS | Mon, 20 Jul 2026, 12:22AM IST
JSW Steel Joint Managing DirectorJayant Acharyasaid global reconstruction efforts, particularly in theMiddle East, Ukraine and Palestine, are expected to support steel demand and help stabilise global markets. He said India's steel demand remains strong, though rising imports are a concern, adding that government measures such as anti-dumping duties could help protect the domestic industry.
Continue reading at Economic Times
2h
India and Japan opt for indigenous bullet trains
INDIA BUSINESS | Mon, 20 Jul 2026, 12:10AM IST
"This is a flagship project for India and Japan. Both countries are working on a common goal of commercial operations in 2027," a senior official told ET, adding Japanese experts are supervising work from the beginning of construction in 2021.
Continue reading at Economic Times
2h
Spain vs Argentina LIVE SCORE FIFA WC Final: Messi vs Yamal in New York; Closing ceremony begins
INDIA MARKET | Sun, 19 Jul 2026, 11:19PM IST
Beyond the battle for the trophy, the final also carries a symbolic passing-of-the-torch narrative from Messi to Yamal.
Continue reading at Business Standard
3h
India, Spain Advance Talks On UPI-Bizum Payment Interoperability
INDIA MARKET | Sun, 19 Jul 2026, 11:16PM IST
India, Spain agree to fast-track UPI-Bizum linkage and deepen trade, investment and business ties.
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3h
Air India Group expects 50-60 new planes in 18 months: Nipun Aggarwal
INDIA BUSINESS | Sun, 19 Jul 2026, 11:14PM IST
Air India Group expects to get 50-60 new aircraft in the next 18 months and the transformation programme is on track even as the airlines' industry has been impacted by multiple black swan events, according to a senior executive.
Loss-making Air India was acquired by Tata Group in January 2022 and the airline is in the middle of an ambitious transformation plan.
Nipun Aggarwal, Chief Commercial Officer of Air India and Chairman of Air India Express, said there have been "tonnes of learning" in the last few years and that it was a complex as well as challenging" project.
"I think this industry itself has gone through several challenges. And we have been hit by multiple black swan events, which I don't think anybody could have forecasted when we started this transformation journey.
"The supply chain issues, the airspace issues, the oil price volatility, and the geopolitical issues," he said.
Aggarwal, who spoke after a panel discussion in Abu Dhabi on July 15, said the group was dea
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3h
Spain vs Argentina Live Streaming: Starting XI, How To Watch FIFA World Cup Final On TV, Online?
INDIA MARKET | Sun, 19 Jul 2026, 11:10PM IST
Lionel Messi of Argentina and Lamine Yamal of Spain face off in FIFA World Cup 2026 final.
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3h
Israel To Receive More US Tanker Aircraft Amid Intensifying Iran Attacks
INDIA MARKET | Sun, 19 Jul 2026, 11:01PM IST
The US has stationed dozens of refuelling aircraft in Israel since the conflict with Iran began on Feb. 28.
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3h
Madhya Pradesh police breaks up 17-day protest against Ken-Betwa Link
INDIA NEWS | Sun, 19 Jul 2026, 10:57PM IST
Police on Sunday broke up a 17-day protest against the Ken-Betwa Link and other development projects in Madhya Pradesh's Chhatarpur district by dispersing protesters and shifting movement leader Amit Bhatnagar, who has been on an 11-day fast, to hospital.
Bhatnagar, however, remained defiant by stating he had not ended his fast and would not do so "even if it costs me my life".
In a video message circulated to the media, Bhatnagar also said he would would not accept intravenous fluids and "will only take water and lemon water".
Police justified the early morning action, citing a serious safety risk from the rising level of Barana river as the protest was being staged beneath an under-construction bridge and partly in the river.
The protest, mainly by tribal women, had been underway since July 3 on the banks of Barana river near Kupi village. Protesters had also staged 'jal' satyagraha, 'chita' (funeral pyre) satyagraha and a symbolic 'faansi' (hanging) satyagraha.
Protesters alleg
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3h
Nagaland Landslide: 4 Dead, Several Feared Trapped In Mon District
INDIA MARKET | Sun, 19 Jul 2026, 10:55PM IST
The landslide washed away several houses and triggered flash floods.
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3h
INDIA MARKET | Sun, 19 Jul 2026, 10:43PM IST
Maharashtra allows restaurants, cafes and hotels to stay open till 4 am for the FIFA World Cup 2026 final.
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4h
Nolans The Odyssey Brings in $124.5 Million at the Box Office on Opening Weekend
GLOBAL NEWS | Sun, 19 Jul 2026, 10:24PM IST
Christopher Nolans nearly three-hour epic was No. 1 over the weekend, with about $124.5 million in ticket sales in the United States and Canada.
Continue reading at The New York Times
4h
The Odyssey Opens Big at the Box Office, Powered by Its Director
GLOBAL NEWS | Sun, 19 Jul 2026, 10:24PM IST
Christopher Nolans nearly three-hour epic was No. 1 over the weekend, with about $124.5 million in ticket sales in the United States and Canada.
Continue reading at The New York Times
4h
INDIA MARKET | Sun, 19 Jul 2026, 10:11PM IST
The photos featured Katrina with husband Vicky Kaushal and their eight-month-old son.
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4h
IRGC Says Two Ships Involved In Strait Of Hormuz 'Accident' After Taking 'Unsafe Route': Report
INDIA MARKET | Sun, 19 Jul 2026, 10:03PM IST
The IRGC said two of the vessels were involved in incidents and were forced to stop, while the other two turned back and abandoned their course.
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4h
GameStop Tightens Grip On eBay With Nearly 10% Ownership
INDIA MARKET | Sun, 19 Jul 2026, 9:54PM IST
GameStop raises eBay stake to 9.8%, signalling takeover push despite board's rejection.
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4h
India's GDP Growth Seen At 6.5-6.8% In FY2026-27: Deloitte
INDIA MARKET | Sun, 19 Jul 2026, 9:47PM IST
Inflation and geopolitical tensions remain key risks to India's FY2026-27 growth, Deloitte says.
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4h
Wangchuk to end fast if House focuses on education accountability: Angmo
INDIA MARKET | Sun, 19 Jul 2026, 9:46PM IST
Sonam Wangchuk will end his hunger strike if political parties assure him that education accountability will be taken up in Parliament, says Gitanjali Angmo
Continue reading at Business Standard
4h
Spain vs Argentina LIVE SCORE FIFA WC Final: Messi vs Yamal in New York; Kickoff at 12:30 AM
INDIA MARKET | Sun, 19 Jul 2026, 9:40PM IST
Beyond the battle for the trophy, the final also carries a symbolic passing-of-the-torch narrative from Messi to Yamal.
Continue reading at Business Standard
5h
INDIA MARKET | Sun, 19 Jul 2026, 9:25PM IST
A Reliance Digital store in Mumbai, operated by Reliance Retail.
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5h
FIFA World Cup Drives 3 Million New Users To Kalshi, Fuels Record $1.2 Billion In Trades: Report
INDIA MARKET | Sun, 19 Jul 2026, 9:07PM IST
Kalshi saidthat more than $1.2 billion has been traded on its World Cup winner contracts.
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5h
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