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INDIA BUSINESS | Tue, 11 Aug 2026, 2:11AM IST ICICI Prudential AMC's board approved acquiring ICICI Securities' PMS business. This acquisition will broaden the company's existing portfolio management offerings. The PMS business caters to high net worth individuals with customized investment solutions. Assets under management stood at 2,910 crore as of March 31, 2026. The transaction is expected to be completed within a year after approvals.

Continue reading at Economic Times

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INDIA NEWS | Tue, 11 Aug 2026, 2:11AM IST Mumbai: ICICI Prudential Asset Management Co said its board has approved the acquisition of the portfolio management services (PMS) business of ICICI Securities through a slump sale.The PMS business caters primarily to high net worth individuals (HNIs) by providing professionally managed and customised investment solutions.Also read: Banks' Rs 20,000 crore credit guarantee plan misses the markThe PMS platform offers a diversified range of investment strategies across discretionary, non - discretionary and advisory mandates encompassing direct equity, smart beta and multi - asset approaches.Its revenue stood at 20.88 crore in 2026, compared with 25.3 crore in FY 2025. The transaction, which is subject to regulatory approvals, will broaden ICICI Prudential AMC's existing PMS offerings.The PMS business had assets under management of 2,910 crore as of March 31, 2026. The actual AUM to be transferred will be determined on the transfer date after receiving the necessary approvals. The transaction is expected to be completed within a year, subject to approvals and a consideration of 1.2% will be paid in cash of the actual AUM transferred.

Continue reading at Economic Times

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INDIA NEWS | Tue, 11 Aug 2026, 2:06AM IST Kolkata: Banks have disbursed just 17%, or about 3,300 crore, of the 20,000 crore credit guarantee scheme for microfinance companies, even as the extended deadline for the programme ends this month, two people aware of the matter said.Loan sanctions have been slow as banks exercise additional caution in lending to small non-banking financial companies-microfinance institutions (NBFC-MFIs), even as they need the assistance the most. Larger MFIs, meanwhile, are somewhat reluctant to borrow under the programme. Of the 3,300 crore disbursed, banks have lent about 1,000 crore to small and medium-sized MFIs while balance has gone to large ones for onlending.Also read: Indian banks' new hunt for diaspora dollars pumps up loans marketsThe government has already extended the deadline once, from June 30 to August 31. It has earmarked 3,000 crore for small and medium-sized MFIs and the remaining 17,000 crore for large ones with more than 2,000 crore of assets under management."Bank lending under the credit guarantee scheme is still slow mostly because the banks were trying to achieve their quota for small and mid segment ones," Sa-Dhan executive director Jiji Mammen said. "As regards large MFIs who are eligible to receive a maximum of 17,000 crore out of 20,000 crore, many of them are not showing the interest as they are able to get funding outside the guarantee scheme with better terms.""On the other hand, banks are very cautious to lend to the small and medium-sized MFIs who need the assistance the most," he said.Microfinance companies can seek bank loans of up to 20% of their assets under management (AUM), subject to a category-wise ceiling. The cap for small MFIs with less than 500 crore of AUM is 100 crore, for medium ones with 500 crore-2,000 crore of AUM it is 200 crore, and for large ones it is 1,000 crore.Sources said about 60 micro lenders have received bank loans under the guarantee cover, with 44 of them being small and medium-sized MFIs.Loans extended by banks under the special scheme are partially guaranteed by National Credit Guarantee Trustee Company, which operates the government's various credit guarantee funds. The trustee offers a partial guarantee of 70% of the amount in default for large NBFC-MFIs, 75% for medium-sized entities and 80% for small ones for a period of three years.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 2:06AM IST Banks have disbursed merely seventeen percent of the credit guarantee scheme funds. Loan sanctions remain slow as banks show caution with smaller microfinance institutions. Larger microfinance companies are hesitant to borrow under the government's guarantee program. About one thousand crore rupees went to small and medium-sized microfinance entities.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:59AM IST Five city gas distributors led national compressed biogas sales in 2025-26. The overall blending ratio reached 0.92%, nearing the government's one percent mandate. Torrent Gas and BPCL spearheaded efforts to blend biogas with natural gas supplies. India currently operates 207 functional compressed biogas plants to boost output. A new scheme aims to strengthen the biogas program through assured demand and stable pricing.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:43AM IST The Bombay High Court ordered Amazon to transfer expired goods to the FDA. This action follows the agency's earlier reprimand for its drastic warehouse measures. The court also mandated the FDA to file its affidavit by August 27. Amazon had challenged the suspension of its warehouse license. This directive ensures scientific disposal of perishable and expired items.

Continue reading at Economic Times

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INDIA MARKET | Tue, 11 Aug 2026, 1:38AM IST The Nasdaq closed lower as investors worried about the Strait of Hormuz. U.S. crude oil prices jumped significantly amid the ongoing Middle East crisis. Intel shares fell after the company announced plans for a large share sale. Traders are now less confident about a Federal Reserve interest rate hike. Strong corporate earnings results previously boosted the S&P 500 to a record high.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:30AM IST Sun Pharma recalled eleven eyecare products after an eye specialists' body issued a safety alert. This alert warned about bacterial contamination found in certain batches of their Predmet eyedrop medicine. The All India Ophthalmological Society stressed patient safety due to potential serious ocular infection risks. Sun Pharma stated the recall was a precautionary measure while investigations continued. The company assured that other products were manufactured at different qualified sites.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:25AM IST The ISL's media rights value has fallen from 275 crore a year paid by JioStar to 8.6 crore offered by FanCode for the 2025-26 season. JioStar had bid 5 crore for the property. FanCode and Sony Sports Network broadcast the league after intervention by the sports ministry helped facilitate the staging of the season, with the organisational burden falling disproportionately on the clubs.

Continue reading at Economic Times

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INDIA NEWS | Tue, 11 Aug 2026, 1:25AM IST Mumbai: Tata Steel's decision to withdraw Jamshedpur FC from the Indian Super League has put the spotlight on the league's commercial viability, with media-rights value falling sharply and several major corporate stakeholders either exiting or reconsidering their involvement in Indian football, industry officials said.The ISL's media rights value has fallen from 275 crore a year paid by JioStar to 8.6 crore offered by FanCode for the 2025-26 season. JioStar had bid 5 crore for the property. FanCode and Sony Sports Network broadcast the league after intervention by the sports ministry helped facilitate the staging of the season, with the organisational burden falling disproportionately on the clubs.The developments come amid a broader restructuring of the league. Manchester City owner City Football Group exited Mumbai City FC last year, while Football Sports Development's 15-year commercial agreement with the All India Football Federation ended following a prolonged impasse over the league's commercial structure last year. FSDL had proposed shifting to a joint ownership model through a holding company, with clubs owning 60%, FSDL 26% and AIFF 14%. The proposal was not accepted by the AIFF.133134764Market estimates suggest that FSDL, the clubs and the wider football ecosystem have collectively invested heavily over the past 15 years while incurring losses of more than 5,000 crore."Jamshedpur Football Club would like to confirm that it will not be participating in ISL from 2026-27 season onwards. JFSPL remains committed, in other capacities, to the continued growth and development of football in India," Jamshedpur FC said in a statement.A sports management CEO said governance and a lack of transparency in decision-making were among the biggest challenges facing Indian football."If corporations don't see a return on investment in football, why will they invest in it?" the CEO said, noting that none of the key stakeholders, FSDL, clubs and JioStar, the media rights partner, made money. The previous commercial rights holder, FSDL, owned by Reliance Industries, invested heavily during its 15-year partnership with the AIFF, which included 700 crore in commercial rights fees. In 2023, FSDL signed a broadcast deal with Viacom18 Media, now part of JioStar, valued at 550 crore for the 2023-24 and 2024-25 seasons."The exit of a reputed company like Tata Steel is deeply concerning. Dempo has also indicated that it is reconsidering its involvement in the Indian Football League. The knock-on impact of such exits could be harder to gauge, as groups considering investing in Indian football may now develop cold feet," said Shaji Prabhakaran, president of the Association for Sports Industry Professionals and former general secretary of the AIFF."There is a need to bring all stakeholders together, particularly those putting their money into the game. Indian football needs a clear, long-term roadmap to create stability, attract investment and move the sport forward," he added."Big corporates are exiting the ISL because they no longer see enough progress or long-term value in the league. Every investment, big or small, must deliver tangible or intangible returns. The ISL is struggling to keep pace with Indian consumers, while Indian football also lacks the institutional depth and ecosystem that cricket has built over the years," said Ajimon Francis, MD, Brand Finance India. Launched in 2014, the ISL is India's top-tier football league with 13 teams following Jamshedpur FC's exit. The league's team owners include JSW, Virat Kohli and Ranbir Kapoor.

Continue reading at Economic Times

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INDIA MARKET | Tue, 11 Aug 2026, 1:18AM IST Microsoft plans to launch its new Maia 300 AI chip this autumn. The company is securing production capacity for over 300,000 chips by 2027. This move aims to reduce reliance on Nvidia's expensive processors. Microsoft also seeks to attract major cloud customers like Anthropic. The tech giant eventually targets over one million Maia 300 chips.

Continue reading at Economic Times

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INDIA NEWS | Tue, 11 Aug 2026, 1:14AM IST New Delhi: Lenders have sought Reserve Bank of India's (RBI) approval to spread the mark-to-market (MTM) losses in their investment portfolios across the remaining three quarters, citing sharp market volatility triggered by the ongoing West Asia crisis."We have also apprised the government of the issue, and some banks have already raised the concern individually with the RBI. A formal representation through an industry association is also being discussed," said a bank executive aware of the developments.Yields on the ten-year g-sec touched 7.13% early in April during the peak of the West Asia crisis and have softened to 6.76% now after the market viewed the recent policy as dovish. Bond prices and yields have an inverse relationship. When yield goes up, bond prices fall, resulting in MTM losses.133134138In Q1, ICICI Bank reported an 87% drop in treasury gain to 151 crore; at HDFC Bank, net trading and MTM income fell 96% to 400 crore.During the Covid-19 pandemic in 2020-21, the RBI relaxed the held-to-maturity (HTM) limits for banks, allowing them greater flexibility in managing their government securities portfolios.However, in April, the RBI rejected a similar proposal to spread the loss across four quarters, stating annual results would not truly reflect the banks' performance for that year.The RBI did not respond to ET's request for comments. In April, banks pleaded with the RBI for regulatory dispensation as they faced the dual impact of losses arising from a sharp rise in government bond yields in the March quarter and the imposition of a $100-million cap on net open positions (NoP) just days ahead of the financial year-end.On March 30, the RBI mandated banks to wind down their open positions in the NDF or non-deliverable market by April 10, leading to huge treasury losses for many banks.Lenders have also flagged the widening spread between State Development Loans (SDLs) and central government securities, saying pricing pressures have intensified in long-term state-issued debt during the recent period of market stress. In preliminary discussions, bankers also highlighted that Financial Benchmarks India Pvt Ltd (FBIL) is reviewing market data and valuation methodologies to address pricing distortions.According to CareEdge Ratings' report titled 'Structural Shifts in Debt Market: Emerging Themes', India's bond market remains heavily dominated by government securities, with general government debt accounting for 55.4% of the country's GDP.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:14AM IST Indian banks have sought RBI approval to spread mark-to-market losses on investment portfolios across the remaining three quarters, citing bond-market volatility triggered by the West Asia crisis. Rising government bond yields have weighed sharply on banks treasury income.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:10AM IST The Centre has proposed limiting states powers to impose taxes, cess and other levies on mineral rights and mineral-bearing land, seeking a more uniform fiscal framework and lower costs for miners following a 2024 Supreme Court ruling allowing additional state taxes.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 1:06AM IST Finance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. Any future MDR would apply only to limited merchant transactions above a prescribed threshold, with its scope to be decided later.

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:54AM IST Indias payments network is shifting towards software-based channels, with UPI QR codes and online card transactions growing while ATMs and other hardware-based infrastructure stagnate or decline. UPI QR codes rose 16.9% year-on-year to 792.6 million in June.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:51AM IST The Telecom Regulatory Authority of India has rolled out a new numbering system with the 1601 series, aimed at service and transactional calls from utility companies. This initiative also includes courier and logistics services, ensuring these communications are distinct from other sectors. The goal is to safeguard essential financial and governmental transactions, while the 1600 series will still be designated for BFSI and government communications.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:45AM IST NBFCs outpaced banks in retail lending growth in June, with loans rising over 20% year-on-year compared with 16% for banks. Growth was driven by jewellery and consumer durable loans as banks remained cautious in unsecured and low-ticket lending segments.

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INDIA NEWS | Tue, 11 Aug 2026, 12:45AM IST Mumbai: Non-banking finance companies (NBFCs) led in retail loan growth in June, outpacing even the robust expansion in bank credit, showed latest data from the Reserve Bank of India (RBI).Retail loan growth by NBFCs at more than 20% year-on-year surpassed the 16% increase recorded by banks in June, lifted by strong demand from segments such as loan against jewellery (69%) and consumer durables (47%). Bank credit to this sector, however, got impacted by the deceleration in outstanding credit card growth to 2% from 7% a year ago, the data showed. The sluggish growth is also because banks have almost vacated the consumer durable finance space.Overall, non-food credit growth for NBFCs was stronger at 18% year-on-year in June, compared to 14% for banks in the same period.Aastha Gudwani, economist at Barclays, said NBFC credit growth is highly concentrated, with retail loans comprising the largest portfolio share and reflecting the strongest growth among the major sectors.133132557"The combination of the largest portfolio weight and the highest growth rate among the major sectors (driven by housing, vehicle, and loans against gold, similar to bank credit trends) means that retail has made the dominant contribution to aggregate NBFC-credit growth," Gudwani said in a report Monday.Siddharth Rajpurohit, lead analyst, bank and NBFCs, at Systematix Shares & Stocks said non-bank lenders are aggressively lending in the retail space, noting the relatively low risk in credit costs, while banks have turned more cautious in areas like unsecured credit. "There are segments like consumer durables which banks have avoided because of its low ticket nature," said Rajpurohit. "In credit cards too, the number of revolvers of credit has consistently come down which explains the low growth for banks there. On the other hand, NBFCs have aggressively grown even in unsecured segments which explains the strong growth from these companies in the retail segment."

Continue reading at Economic Times

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INDIA COMMODITIES | Tue, 11 Aug 2026, 12:41AM IST Oil prices rose significantly as Iran and the United States exchanged compensation demands. Prospects for reopening the Strait of Hormuz dimmed due to these escalating tensions. Ukraine continued to strike Russian refineries and tankers, further impacting supply. Saudi Aramco postponed a refinery restart after recent Houthi attacks. US Strategic Petroleum Reserve stocks reached their lowest level since 1983.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:26AM IST Hindustan Copper Limited announced a substantial profit increase for the first quarter. Total income also saw a significant rise compared to the previous year. Rising London Metal Exchange copper prices offer a positive outlook for the company. HCL is actively monitoring expansion projects to boost ore production. The company is also progressing with mine reopenings and exploration efforts.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:23AM IST The government said AAI has received a request to waive airport-airline cross-holding restrictions, though the civil aviation ministry has yet to examine it. Any relaxation could attract new airline investment but faces concerns over competition, airport access and potential conflicts of interest.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:12AM IST Lightstorm has raised 2,500 crore from IndusInd Bank to build AI-focused fibre infrastructure connecting major data centre clusters across India. The 10-year debt facility will support connectivity between hubs including Mumbai, Chennai and Hyderabad and international AI zones.

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INDIA NEWS | Tue, 11 Aug 2026, 12:12AM IST Mumbai: Network infrastructure provider Lightstorm has raised a 2,500 crore debt facility from IndusInd Bank to build "AI fibre highways" connecting AI data centre clusters across India. The 10-year fully underwritten debt facility will fund the next phase of the company's AI infrastructure expansion."This entire raise of 2,500 crore is going to fund what we think is the first large fundraise for AI cyber infrastructure across India," Amajit Gupta, group CEO and MD, Lightstorm, told ET.The debt raise comes weeks after Lightstorm announced the I-2SEA subsea cable system connecting India with Singapore and Malaysia. The consortium includes Microsoft, Tata Communications, Telekom Malaysia, Singtel, NEC and JCPL, with Lightstorm and Microsoft serving as co-owners of the cable. Gupta said the project would provide the connectivity backbone for AI data centres across India and Southeast Asia. The company plans to expand its domestic fibre capacity by creating a dedicated AI corridor connecting major data centre hubs such as Mumbai, Chennai and Hyderabad while linking them to hyperscale AI zones in Singapore and Malaysia.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:09AM IST Indias medical device industry and healthcare groups have opposed the draft Drugs, Medical Devices and Cosmetics Bill, 2026, arguing that treating medical devices like pharmaceuticals and imposing criminal penalties for regulatory lapses could hurt manufacturing, investment and innovation.

Continue reading at Economic Times

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INDIA MARKET | Tue, 11 Aug 2026, 12:07AM IST As treasury yields climbed on Monday, investors geared up for significant inflation data due later this week. The ongoing geopolitical tensions in the Middle East have added an extra layer of uncertainty to the markets. Traders are particularly focused on the upcoming consumer and producer price index reports, while expectations surrounding Federal Reserve rate hikes have eased slightly. Moreover, upcoming Treasury auctions could have a critical impact on bond pricing.

Continue reading at Economic Times

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INDIA BUSINESS | Tue, 11 Aug 2026, 12:05AM IST Brookfield India Reit and Prime Offices Fund will acquire 264,000 sq ft of Grade-A office space in Mumbai's Bandra-Kurla Complex in an equal partnership

Continue reading at Business Standard

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INDIA BUSINESS | Mon, 10 Aug 2026, 11:30PM IST Equitas Small Finance Bank aims to nearly triple advances to 1.2 trillion in five years, while preparing for a possible universal banking licence application within a year

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INDIA MARKET | Mon, 10 Aug 2026, 11:28PM IST US SPR falls below 300 million barrels for the first time since 1983 as Iran war disrupts global oil supplies.

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INDIA MARKET | Mon, 10 Aug 2026, 11:27PM IST Indian passport holders can get UAE entry visas at no extra cost when booking eligible Abu Dhabi stays.

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INDIA MARKET | Mon, 10 Aug 2026, 11:25PM IST Archer Aviation shares surged after agreeing to acquire Boeing's Wisk Aero and two other units. This strategic acquisition grants Archer access to Boeing's autonomous-flight technology and defence capabilities. Boeing will receive a significant stake in Archer and board representation as part of the deal. The move allows Archer to immediately generate revenue from the profitable Insitu drone business.

Continue reading at Economic Times

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INDIA MARKET | Mon, 10 Aug 2026, 11:23PM IST Bank certificates of deposit became the largest holding in debt mutual funds in FY26, overtaking government securities as taxation changes shifted investor preference towards shorter-duration schemes

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INDIA MARKET | Mon, 10 Aug 2026, 11:18PM IST Under such pacts, two trading partners provide duty concessions to each other on goods to boost two-way commerce.

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INDIA MARKET | Mon, 10 Aug 2026, 11:17PM IST UAE, Saudi Arabia and Qatar emerged as key sources of Trump's overseas real estate licensing income

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INDIA MARKET | Mon, 10 Aug 2026, 11:14PM IST Akshay Kumar is reportedly set to play Rajesh Khanna in Neeraj Pandey's upcoming RD Burman biopic.

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