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PhonePe also continues to receive strong corporate backing from major global institutional investors, with Walmart (via WM Digital Commerce Holdings Pte Ltd) retaining a dominant 73.33% stake. File | Photo Credit: The Hindu Demonstrating strong top-line momentum, PhonePe’s consolidated revenue from operations rose to ₹7,920 crore in FY26, according to regulatory filings with the Registrar…
IDFC First Bank’s first quarter (Q1) FY27 net profit more than doubled year-on-year (YoY) to ₹1,075 crore, supported by strong business momentum., improved asset quality and better cost management. Net Interest Margin (NIM) improved to 5.96% in the quarter from 5.71% a year ago, up 25 bps basis points YoY. Loans and advances increased 20.6%…
Read More “IDFC First Bank Q1 net more than doubles to ₹1,075 crore” »
Bluevine, a US-based digital business banking platform focused on small businesses, is increasingly eyeing at a growing number of Indian firms seeking to set up establishments in the US as pat of their expansion strategy. “The owners, operators and entrepreneurs who generate revenue in the US, if they have a US entity, by definition, need…
Read More “US-based online banking platform Bluevine eyes Indian businesses” »
The Insurance Regulatory and Development Authority of India (IRDAI) has set timelines for insurers to submit documents related to complaints before the Insurance Ombudsmen and warned that non-compliance could result in ex-parte orders. The regulator has directed all the insurers, except reinsurers, to submit the self-contained note (SCN), along with all supporting documents, within seven…
Read More “Submit documents promptly to Ombudsmen or face ex-parte orders, IRDAI tells insurers” »
About 45% of India’s exports to the U.S. remains outside the purview of the new 10% tariff that Washington has levied on imports, the government said on Saturday. The government also said that it remained engaged with the U.S. regarding a quota-based system regarding India’s textile exports to the U.S. The office of the U.S….
File photo of a farmer seen travelling with a bag of urea in Sangareddy district of Telangana. | Photo Credit: Mohd Arif Amid concerns of fertiliser shortage during the ongoing kharif season due to the situation in West Asia, greater demand because of El Niño and complaints of over-use of chemical fertilisers such as urea,…
The Reserve Bank of India, the Securities and Exchange Board of India and the insurance regulator, are jointly executing the Central Know-Your-Customer 2.0 project. File | Photo Credit: Reuters Banks and insurers will launch a common customer identification system in August, with asset managers joining later, two regulatory sources and industry executives said, allowing customers…
Read More “Common customer ID for banks, insurers soon; mutual funds to follow” »
Maruti New Brezza to make further inroads in Indian compact SUV market | Photo Credit: The Hindu To capitalise on the fast-growing compact SUV market in India, Maruti Suzuki India Ltd on Friday launched the upgraded Brezza Turbo Boosterjet at price staring from ₹7.4 lakhs (ex-showroom). This segment, which now accounts for 30% of the passenger…
Read More “Maruti Suzuki unveils New Brezza at price starting from ₹7.4 lakhs” »
Generic drugmaker Laurus Labs’ consolidated net profit more than doubled year-on-year (YoY) to ₹361.99 crore for the June quarter, driven by a 29% jump in revenue. Revenue from operations rose to ₹2,026.31 crore, supported by a 67% surge in CDMO (Contract Development and Manufacturing Organization) business to ₹870 crore. Within CDMO, small molecules segment grew…
A worker holds a nozzle to pump fuel into a two-wheeler vehicle at a BPCL fuel station | Photo Credit: Reuters Bharat Petroleum Corporation Ltd (BPCL), the second largest Indian oil marketing company, has kept its expansion plans on as it said the refinery capacities are not expected to be affected by the recent flare-up…