City Mumbai Financial News

Subscribe to enjoy similar stories. In the sprawling suburbs of Bengaluru rises El Dorado, a city of gold in legends but now an upcoming township. For developer Brigade Group which tagged its launch campaign as #StrikeGold, the name signals the rich potential of the project, the largest in the city's Bagalur special economic zone.

Subscribe to enjoy similar stories. Mumbai: Poonam Gupta, the newly appointed deputy governor of the Reserve Bank of India, has less than a week to prepare for the three-day monetary policy committee meeting beginning Monday. But, while it maybe be her first stint at the RBI, Gupta’s academic papers and articles point to a person who has strong views on inflation targeting framework and exchange rate stability.

HDFC Bank, India's biggest private lender by assets, said on Thursday its growth in deposits outpaced that of loans in the three months to March 31, compared with the preceding quarter. Deposits rose 5.9% to 27.15 trillion rupees ($318.5 billion), the Mumbai-based bank said, higher than the 2.5% rise in the October-December quarter. Its low-cost current and savings account deposits rose 8.2%.

New India Cooperative Bank's former chairman Hiren Bhanu and his wife Gauri Bhanu as proclaimed offenders in connection with the Rs 122 crore embezzlement case, a police official said on Thursday. The Bhanu couple fled the country separately days before the embezzlement case came to light in February. The Economic Offences Wing (EOW) of the city police, which is probing the case, has so far arrested eight persons, including the bank's former General Manager Hitesh Mehta and former CEO Abhimanyu Bhoan. «The EOW had moved an application before the court seeking that Bhanu and his wife be declared as proclaimed offenders. The court has accepted the plea,» an official told PTI. The court had earlier issued a non-bailable warrant against the duo, he said. While Hiren Bhanu fled the country on January 26, his wife and the bank's former vice-chairperson Gauri Bhanu left on February 10, just a few days before the scam came to light. «As both of them are out of the country, and finding their location was necessary for the probe, a Blue Corner Notice was issued against them earlier,» the official said.

Subscribe to enjoy similar stories. Mumbai: Indian equities, bonds and currency showed some resilience even as US president Donald Trump’s reciprocal tariffs sent global markets into a tailspin. Trump fired up global trade tensions by announcing a baseline 10% tariff on all imports starting 5 April, with additional reciprocal tariffs on specific countries from 9 April.

Subscribe to enjoy similar stories. MUMBAI : Parag Parikh Financial Advisory Services (PPFAS) Ltd’s flagship flexi-cap scheme has a cult following in the mutual fund space. After all, it has generated a compound annual growth rate (CAGR) of 18% since its launch in 2013.

Delhi Metro Rail Corporation (DMRC) has been awarded a contract by Chennai Metro Rail Limited (CMRL) for Operation and Maintenance of three corridors of its Phase-II: Corridor-3 (Madhavaram Milk Colony to Siruseri SIPCOT-II Metro — Indigo Line), Corridor- 4 (Lighthouse to Poonamallee Bypass -Orange Line) and Corridor-5 (Madhavaram Milk Colony to Sholinganallur — Red Line) including Maintenance Depots at Madhavaram, Poonamallee & Semmancheri. The term of the contract is 12 years from date of Commercial Operation date of the last stage of Phase II. An official statement said DMRC will be responsible for the day-to-day operations of three corridors consisting of 116.1 Kms and 112 stations.

Securis Finance, a subsidiary of FirstPay Technologies, has received approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC). The company plans to disburse Rs 100 crore in education loans in its first year, initially targeting key educational hubs such as Bengaluru, Mumbai, Delhi-NCR, Hyderabad, and Pune on a pilot basis. Securis Finance is a fully owned subsidiary of FirstPay Technologies, which operates Junio, a digital pocket money smart card for teenagers. Securis Finance aims to offer loans ranging from Rs 50,000 to Rs 5 lakh, addressing a major gap in access to credit for teenagers. Its lending solutions will cover diverse educational needs, including school fees, college tuition, coding boot camps, and entrance exam coaching.

Subscribe to enjoy similar stories. It wasn’t an April Fool’s Day joke after all. As soon as the invite to Vivienne Westwood’s 1 April show in Mumbai landed as a WhatsApp text, many thought it was a prank.

Mumbai Police have prohibited the flying of drones, remote-controlled microlight aircraft, paragliders, and hot air balloons in the city for a month to prevent potential sabotage attempts. The ban, issued under Section 163 of the Bharatiya Nagrik Suraksha Sanhita, will be in effect from April 4 to May 5, officials said on Thursday.

“In FY26, investors should be inclined towards investing in categories such as Flexi Cap, Multi Cap, and Large & Mid Cap. These provide the fund managers with an option of maneuvering depending upon the market circumstances as an alternative during volatile times. Excessive exposure in very high-risk categories should be avoided,” recommended Rajesh Minocha, a Certified Financial Planner (CFP), Founder of Financial Radiance Also Read | Technology-based mutual funds lost up to 18% in 2025. Time favourable to allocate more?

Thyrocare took only 10 minutes. Finally, in 2021, he exited his company in a mere 60 seconds. His philosophy? 'Decide first, discuss later". His journey proves that speed and conviction in decision-making can shape extraordinary success. Dr. Arokiaswamy Velumani, the founder of Thyrocare, built a billion-dollar enterprise from humble beginnings. Born in a small village in Tamil Nadu to a family of landless farmer and despite severe financial struggles, he became the first graduate from his village in 1978, marking the start of an extraordinary journey.

Mahindra Lifespace Developers shares will be in focus on Thursday after the company secured two housing redevelopment projects in Mumbai, expecting a revenue of Rs 1,200 crore. In a regulatory filing on Wednesday, Mahindra Lifespace informed that the company has been «appointed as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri West, Mumbai, with a project value of approximately Rs 1,200 crore.

Subscribe to enjoy similar stories. MUMBAI : India’s insurtech startups are no longer content with the domestic market. Facing intensifying competition at home and comparatively smaller transaction sizes, these firms are aggressively expanding into West Asia, Southeast Asia, and Europe—regions where insurers are ramping up digital adoption and willing to pay more for advanced tech solutions.

Subscribe to enjoy similar stories. Wockhardt Ltd that built its name as a maker of generic drugs is shifting its focus in the US market to developing new antibiotics, turning away from generics and entering a space largely vacated by Big Pharma in recent years. The company is working on new antibiotics and has identified segments for a push into biosimilar drugs, chairman Habil Khorakiwala said, in the wake of promising results shown by Zaynich, an antibiotic it developed in-house.

Subscribe to enjoy similar stories. Mumbai/Bengaluru: A stock price plunge and, in some cases, a cash crunch has prompted creditors to take control of shares pledged by promoters of at least 15 small-cap companies over the past six months. Solar project consultant and contactor Gensol Engineering Ltd and payment solutions provider AGS Transact Technologies Ltd, two companies that recently defaulted on loans, are among the small-cap firms that reported invocation of pledged shares, according to Prime Database, a Mumbai-based markets data tracking firm.

Subscribe to enjoy similar stories. Mumbai: India’s largest lender State Bank of India (SBI) is scouting for fintechs which can help it gain an edge over competitors with debt card solutions, including an option for customers to print their own cards at kiosks. The bank is looking to partner with fintechs who can provide services for these kiosks, allowing customers to upload photos or select from design templates, according to a document seen by Mint.

Lupin on Wednesday said it has acquired UK-based Renascience Pharma for 12.3 million pounds (around Rs 135 crore). Lupin Healthcare (UK) Ltd, a wholly-owned subsidiary of the Mumbai-based drug maker, is acquiring a 100 per cent stake in Renascience, which supplies products in the UK. With the acquisition, Lupin Healthcare (UK) Limited gains full ownership of Renascience which, going forward, will trade as its subsidiary, Lupin Ltd said in a statement. Renascience is the sole supplier for branded injectable cephalosporines for infectious diseases, a topical treatment for ear pain and a branded quinasoline-like diuretic for cardiovascular and renal indications in the UK market.

Mahindra Lifespace Developers Ltd has bagged two projects for the redevelopment of housing societies in Mumbai and is expecting a revenue of Rs 1,200 crore. In a regulatory filing on Wednesday, Mahindra Lifespace informed that the company has been «appointed as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri West, Mumbai, with a project value of approximately Rs 1,200 crore. The project will be pursued under the state's cluster development scheme.

GLP-1 drugs gain traction despite cost and safety concerns, Mumbai-based gut health startup The Good Bug has introduced ‘Metabolically Lean’, a GLP-1-based formulation designed to help manage weight naturally. The startup claims that, unlike injectable drugs such as Ozempic and Mounjaro, which can have side effects, its solution is a non-invasive formula that naturally boosts the GLP-1 hormone level to suppress appetite and support metabolism. What is GLP-1?

Subscribe to enjoy similar stories. Recent monetary policy decisions in both the United States and India indicate a shift towards easing interest rates. The US Fed has been signaling that there is a need to keep the policy rate accommodative and is open to rate cuts if the data supports this.