Lending rates moving lower to raise pressure on bank NIMs
INDIA BUSINESS | Mon, 15 Dec 2025, 12:44AM IST
Bankers said the move will delay margin recovery since they cannot cut deposit rates sharply due to stiff competition from alternative investment avenues such as mutual funds.
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Cheap copper imports hurting domestic manufacturing, says industry body
INDIA BUSINESS | Mon, 15 Dec 2025, 12:31AM IST
Cheap copper imports are hurting Indian manufacturers. The Indian Primary Copper Producers Association is calling for government action. They want safeguard duties and limits on overseas shipments. Investments in domestic production are at risk. The association highlights issues with the India-UAE CEPA and an inflated tariff rate quota. Immediate intervention is sought to protect the industry.
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Global Chess League eyes big moves
INDIA NEWS | Mon, 15 Dec 2025, 12:30AM IST
Mumbai: After two seasons of testing the franchise model, the Global Chess League (GCL), a brainchild of Mahindra Group chairman Anand Mahindra, is preparing to expand.The league is betting on rising fan engagement, growing interest among women players and sponsors, and a format it believes is ready to scale. "In fact, we are looking to expand the league to two more franchises next year," said Peeyush Dubey, chairperson of GCL. "The league has grown, fan interest is high and now is the right time for us to expand."Interest in new teams is coming from outside India as well, including Central Europe, Scandinavia and the US, Dubey said. The league currently has six franchises: Ganges Grandmasters, Triveni Continental Kings, Alpine SG Pipers, PBG Alaskan Knights, upGrad Mumba Masters and Fyers American Gambits. Team owners include Jay Kotak, Ronnie Screwvala, cricketer R Ashwin and several corporate-backed franchises. India remains central to the league's growth strategy, with more than 90 grandmasters. Dubey described the country as the epicentre of global chess, from Viswanathan Anand, India's first grandmaster and five-time world champion, to reigning world champion Gukesh D and R Praggnanandhaa.125965863 Engagement data shows the strongest traction in the 18 to 34 age group, while women account for more than 25% of new subscriber additions on Chess.com, a segment the league is now actively targeting.Launched as a joint venture between Tech Mahindra and the International Chess Federation (FIDE), the franchise-based league is designed to drive year-round engagement rather than operate as a short-duration event. "In the first two seasons, it was only the league, the 10 days of competition," Dubey said. "This is the third season and we can confidently say the league is well established."Season three reflects a shift towards sustained engagement beyond the competition window. Activations launched ahead of the season in partnership with Chess.com drew participation from more than 20,000 players globally, with three winners earning the opportunity to participate in the league.The GCL has also deepened engagement with corporate sponsors, particularly global technology companies. Brands such as IBM, Microsoft, Google Cloud, AWS and AMD are on board this season. "Chess is still one of the most under-commercialised global sports," said Dubey, who is also the chief marketing officer of Tech Mahindra. "Because the largest group of chess enthusiasts comes from the technology ecosystem, it is a strong platform for talent branding."On the distribution front, matches are streaming live on JioHotstar, while Star Sports is airing a daily half-hour highlights capsule. Matches are also being streamed live on the league's YouTube channel.The season, currently under way at Mumbai's Royal Opera House, also marks an effort to widen the league's cultural footprint, with the venue hosting a global chess event for the first time.
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NCLT's valuation flags cloud IL&FS HQ sale
INDIA BUSINESS | Mon, 15 Dec 2025, 12:24AM IST
In a recent order, the National Company Law Tribunal (NCLT) rejected the proposed sale of two IL&FS-owned commercial properties -Mafatlal Chambers and Trade World -citing undervaluation.
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Parliamentary panel flags oil import dependence, urges diversification amid geopolitical risks
INDIA BUSINESS | Mon, 15 Dec 2025, 12:23AM IST
A parliamentary committee has highlighted India's significant reliance on crude oil imports, nearly 89%, and the escalating geopolitical risks. It urged the government to diversify supply sources and bolster risk management, including hedging and flexible contracts, to counter global disruptions and ensure energy security.
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Bombay High Court rules in favour of AB InBev in trademark case
INDIA BUSINESS | Mon, 15 Dec 2025, 12:17AM IST
The court ruled that using the "COX 5001" trademark amounts to "passing off", a term used in intellectual property rights (IPR) law referring to making a false representation that is likely to mislead someone into believing that the goods or services come from another source.
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Tata Capital anchors Rs 2,300-crore refinancing of Jayaswal Neco debt
INDIA BUSINESS | Mon, 15 Dec 2025, 12:15AM IST
The refinancing was anchored by Tata Capital with a commitment of about 800 crore, alongside Investec at 300 crore. Other lenders and investors in the syndicate include Vivriti Capital (200 crore), Hero FinCorp, Hero Corp, DSP, Oxyzo and a clutch of family offices, taking the total deal size to around 2,300 crore.
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Tata Capital anchors Rs 2,300-cr Jayaswal Neco
INDIA NEWS | Mon, 15 Dec 2025, 12:15AM IST
Mumbai: Tata Capital has led a 2,300-crore refinancing of Jayaswal Neco Industries' debt, providing an exit to Edelweiss Alternatives last week, according to people familiar with the transaction.The refinancing was anchored by Tata Capital with a commitment of about 800 crore, alongside Investec at 300 crore. Other lenders and investors in the syndicate include Vivriti Capital (200 crore), Hero FinCorp, Hero Corp, DSP, Oxyzo and a clutch of family offices, taking the total deal size to around 2,300 crore.Hero FinCorp is understood to have invested around 300 crore, while DSP has committed about 175 crore. Smaller family offices have chipped in roughly 75 crore. The entire syndicate has come in at a return of around 12.5%, people cited above said. Tata Capital has also earned a syndication fee of the deal size.125965638 Tata Capital and Jayaswal Neco did not immediately respond to requests for comment while others could not be reached.The refinancing replaces an earlier structure in which Edelweiss Alternatives was the primary lender to the asset. Edelweiss is said to have earned a total return of about 19% over the life of its investment, which was refinanced within two to three years. Jayaswal Neco exercised its early repayment option and fully redeemed the high-cost outstanding debentures, along with the final interest due, on December 14. The company has been steadily improving its credit profile by prepaying principal and accrued interest using internal cash accruals.The exit further adds to the track record of Edelweiss Alternatives' second performing credit fund, a $900 million fund focused on companies which are lower rated. Jayaswal Neco was among 17 deals executed from the fund, of which 13 have already been exited. Four investments remain, with exits expected in another 12 to 18 months. The fund has delivered returns of more than 18%, which has led to the company raising another $1 billion private credit."Our performing private credit strategy Edelweiss Special Opportunities Fund (ESOF-III) has recently exited from Jayaswal Neco, where the ESOF strategy aims at investing 300-1,000 crore with large corporates generating superior risk-adjusted returns through contracted debt returns plus upside sharing," said Amit Agarwal, CEO, EAAA Alternatives (earlier known as Edelweiss Alternatives). "Our current gross returns are 18%+. This was one of the larger investments in the fund and has successfully been refinanced within two years of investment."Jayaswal Neco's refinancing will lower borrowing costs and extend maturities, with promoters pledging their entire 55.2% stake as collateral. Half of the pledge is expected to be released once 50% of the debt is repaid, improving balance-sheet flexibility.The steelmaker had faced financial stress between FY14 and FY18 and was referred to the NCLT in 2018 by a bank consortium led by State Bank of India, though it avoided insolvency proceedings. The lenders later sold the loans to ACRE-managed trusts, leading to a restructuring that became effective in May 2022. Jayaswal Neco exited the restructuring by refinancing the debt through non-convertible debentures in December 2023.
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Regulatory hurdles likely to delay rollout of satcom internet services
INDIA BUSINESS | Mon, 15 Dec 2025, 12:06AM IST
So far, Starlink, Eutelsat OneWeb, and Jio Satellite have completed most of the licensing and space-regulatory steps, including obtaining the Global Mobile Personal Communication by Satellite (GMPCS) licence, and approvals from space-regulatory body In-SPACe. Commercial launch, however, hinges on the spectrum allocation based on pricing rules, and compliance with security and capacity rules.
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Fresh policy push to unlock Mumbais long-stalled Pagdi buildings
INDIA BUSINESS | Sun, 14 Dec 2025, 11:48PM IST
The countrys financial capital has over 19,000 pagdi buildings, with more than 13,000 still pending redevelopment, many in prime central areas where land is scarce. The move is expected to generate renewed investor interest and potential development opportunities across these high-value precincts.
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Fresh push to unlock Mumbais long-stalled Pagdi buildings redevelopment
INDIA BUSINESS | Sun, 14 Dec 2025, 11:48PM IST
The countrys financial capital has over 19,000 pagdi buildings, with more than 13,000 still pending redevelopment, many in prime central areas where land is scarce. The move is expected to generate renewed investor interest and potential development opportunities across these high-value precincts.
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New Education Bill to replace UGC, AICTE with regulatory council; Centre to hold more power
INDIA BUSINESS | Sun, 14 Dec 2025, 11:46PM IST
Marking a major shift, the Centre will also ensure that the new regulator is divested of all funding/grant mechanisms, which will instead be handled by the Union education ministry.
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2h
INDIA BUSINESS | Sun, 14 Dec 2025, 11:30PM IST
Mumbai's Dahisar radar will move to Gorai. This unlocks hundreds of acres for affordable housing. The decision follows a meeting with the Civil Aviation Ministry and Maharashtra government. Cabinet approval is sought for early construction. This move will allow redevelopment of old buildings.
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Bihar's Nitin Nabin likely to take over as youngest BJP president
INDIA MARKET | Sun, 14 Dec 2025, 11:02PM IST
45-year-old appointed national working president by Party's parliamentary board
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India beat SA by 7 wickets in third T20I
INDIA NEWS | Sun, 14 Dec 2025, 10:28PM IST
DHARAMSALA: The Indian pace-bowling quartet of Arshdeep Singh, Harshit Rana, Hardik Pandya and Shivam Dube tormented South Africa, dismissing the visitors for 117 in the third T20 International here on Sunday.Left-arm pacer Arshdeep (2/13) began the demolition work by dismissing Reeza Hendricks for a duck in the very first over, following which Rana (2/34) dismissed opener Quniton de Kock and and Dewald Brewis for 1 and 2 respectively, reducing the Proteas to 3 for 7.All-rounder Hardik Pandya (1/23) then completed 100 T20I wickets when he had Tristan Stubbs in the seventh over, which reduced South Africa to 30 for 4 in the seventh over.Shivam Dube (1/21) got the wicket of the dangerous Corbin Bosch (4) even as Proteas skipper Aiden Markram (61 off 46 balls) remained the only batter who stood firm against the hostile attack.Earlier, India brought in Rana for Jasprit Bumrah, who missed the match because of personal reasons, while Kuldeep Yadav came in for an unwell Axar Patel.The five-match series is locked 1-1.Brief scores: South Africa 117 all out in 20 overs (Aiden Markram 61; Arshdeep Singh 2/13, Harshit Rana 2/34, Hardik Pandya 1/23, Varun Chakravarthy 2/11, Shivam Dube 1/21).
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