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Public sector banks must plan for appropriate and timely capital raising and strive to reduce intermediation costs to make banking products and services, particularly credit-related, affordable to the public, said M Nagaraju, secretary of the department of financial services on Monday. He was addressing bankers at the 77th annual general meeting of the Indian Banks' Association (IBA). «Each bank needs to identify its focus on building capacity and planning road maps for appropriate and timely capital raising or efficient allocation of resources, besides striving to bring down intermediation costs,» Nagaraju said. Speaking at the same event, State Bank of India chairman CS Setty said as new and unfamiliar industries emerge, banks must develop the expertise to assess these evolving business models and lending risks.

credit offtake, which was largely fuelled by uncollateralised retail advances. Those steps appear to have helped derisk the broader credit environment, as higher risk weights tied to such exposures helped limit loan disbursements. Expansion in credit card dues, as high as 34% in November 2023, declined to 13% in January 2025. Similarly, loans to nonbank lenders, which climbed 21.5% in November 2023, expanded 7.7% in January 2025. In November 2023, the Reserve Bank of India (RBI) increased risk weights on loans to non-banking financial companies (NBFCs), unsecured loans, and credit cards.

Centre for Public Interest Litigation (CPIL), calls for the creation of an independent committee, comprising the Prime Minister, Leader of Opposition, and Chief Justice of India, to appoint the CAG. The petitioner argued that the current selection process undermines the independence of the CAG. Advocate Prashant Bhushan claimed that the CAG's independence has diminished in recent years, pointing to a decline in reports and audits, especially in states ruled by the BJP.

Ford is understood to have finalised plans to use its mothballed factory near Chennai to manufacture and export engines and related components, people aware of the development told ET. Details of the plan will be announced in the second quarter of this year, they said. Vehicle manufacturing is not part of the India strategy. “Ford is going to be making engines at the Chennai plant,” one of the people said. “It (the facility) will be repurposed for export-focused production. This decision is part of Ford's broader global strategy.”

The ministry has also estimated a $4.43 billion trade surplus in goods and services in February, the first surplus after the Covid-19 pandemic. In February, India’s gold imports slipped to $2.3 billion from the past month’s $2.68 billion. Meanwhile, crude oil imports dropped to $11.8 billion from $13.4 billion in January, data showed. Sequentially, goods exports were up 1.31% from January 2025. “This was a difficult year for us for trade. We are positively moving in the direction of above $800 billion exports,” said commerce secretary Sunil Barthwal, adding that services exports are growing above 14%. Live Events E

Indian lenders as early as next month. Multiple-and simultaneous-central bank measures to boost systemic liquidity will help reduce the rates on instruments such as certificates of deposit (CD) and commercial paper (CP). Lower capital costs should also bring down lending rates earlier than expected. «The central bank's stance on liquidity management seems to have shifted toward 'accommodative' from 'neutral', as reflected in the large liquidity infusion through multiple tools,» said Soumyajit Niyogi, director-core analytical group at India Ratings. «If this continues, the overall rates in the economy, including lending rates by banks, may start softening.» However, the bet is on short-term rates easing first in FY26, when lower inflation is expected to help prolong the Reserve Bank of India's (RBI) easing cycle.

NASA astronauts Sunita Williams and Barry «Butch» Wilmore are set to return to Earth on 18 March after spending over nine months aboard the International Space Station (ISS). Their mission was extended due to propulsion issues with Boeing’s Starliner spacecraft, which was deemed unfit for their return journey. Instead, the astronauts will be flying back aboard SpaceX’s Crew Dragon, with splashdown expected near the Florida coast. Their journey home marks the end of an unusual mission. Williams and Wilmore had originally travelled to the ISS in June last year as part of the first crewed test flight of Boeing’s Starliner. However, multiple technical issues, including helium leaks and propulsion malfunctions, forced NASA to alter their return plans. The two astronauts were folded into the Crew-9 mission and had to wait for a safe return option.

Subscribe to enjoy similar stories. New Delhi: India is focusing its US engagement on a trade deal rather than Washington's contentious plans to impose reciprocal tariffs. According to three senior government officials, India is not engaging with the US on reciprocal tariffs; instead, discussions remain centered on shaping a proposed Bilateral Trade Agreement (BTA).

PC Jeweller Ltd on Monday said its board has approved allotment of 51.71 crore shares to a consortium of lenders through a preferential issue to settle Rs 1,510 crore debt. In a regulatory filing, PC Jeweller Ltd stated that the Board of Directors of the company approved the allotment of 51,71,14,620 equity shares by way of preferential allotment on private placement basis to a consortium of lenders comprising 14 banks. The shares have been issued at Rs 29.20 per share.

Chittagong port, Bangladesh Food Ministry said in a statement on Monday. "MV Tanais Dream carrying 22,500 tonnes of parboiled rice from India through an open tender and MV Hong Linh 1 carrying 12,500 tonnes of parboiled rice from Vietnam under the (Government-to-Government) G-to-G agreement executed on February 3, 2025 (2nd shipment) have arrived at Chittagong port", the statement said. It is to be noted that an agreement has been signed to import a total of 100,000 tonnes of rice from Vietnam on a G-to-G basis.

Subscribe to enjoy similar stories. New Delhi: When Bell Laboratories developed the first silicon solar cell in 1954, a technological breakthrough that converted sunlight into electricity, the invention made headlines. “It may mark the beginning of a new era," went a story in The New York Times, “leading eventually to the realization of one of mankind’s most cherished dreams—the harnessing of the almost limitless energies of the sun." That hope was born out of a humbling statistic: the amount of sunlight that strikes the earth’s surface in an hour and a half is enough to meet the world’s energy demand for a year.

Hip Hop India Season 2 for making inappropriate gestures during his performance. The actress, who is judging the show alongside choreographer-director Remo D'Souza, was visibly upset with the contestant’s behavior, which included winking and blowing flying kisses in her direction. A video of the incident has since gone viral on social media. In the clip, Malaika is seen confronting the contestant, demanding, «Mummy ka phone number do!» (Give me your mother's phone number!). Expressing her disbelief, she added, «He is winking. He is giving flying kisses.» Her stern reaction was supported by other contestants, who also questioned the participant's behavior. The contestant, from Uttar Pradesh, had appeared for an audition on the show. His actions during the performance left Malaika uncomfortable, leading her to firmly call him out. Remo D'Souza attempted to lighten the mood by jokingly asking whether the boy was more like his mother or father.

“They have come and enriched us here, created huge jobs. We must be an open progressive forward society not parochial like some of our neighbors, he said in a post on X. “The best and brightest of India are welcome here.” He was referring to data that showed most unicorn founders came from Maharashtra followed by Delhi, Uttar Pradesh, Rajasthan and Tamil Nadu. In a series of posts, he warned that Karnataka was on its way of losing out massively by the time the term of the present Congress regime ends, while urging chief minister Siddaramaiah to act for a “mid-course correction". The former Infosys board member said this in response to a reported remark by Telangana CM Revanth Reddy that his state was finding it difficult to pay salaries to employees on the first day of every month due to the weak financial position of the state.

Rajasthan Forest Department unveiled a groundbreaking discovery—Mukundra Hills Tiger Reserve has recorded its first photographic evidence of a caracal. This elusive wild cat was captured on a camera trap during the reserve’s winter Phase IV survey, marking a significant milestone in conservation efforts. The presence of the caracal, a medium-sized wild cat known for its striking tufted ears and stealthy nature, highlights the effectiveness of the reserve’s strong protection measures. Mukundra Hills Tiger Reserve, primarily known for its tigers, has now proven to be a thriving habitat for lesser-seen felines like the caracal, showcasing the region’s rich biodiversity.

Religare Enterprises on Monday said its board is seeking a governance review of the company and its units, and has also approached the billionaire Burman family for funding support after they took control of the company last month. The Burman family, who founded and control consumer goods conglomerate Dabur India, acquired control of the financial services provider in February after a 17-month takeover battle. The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing. Religare also said it observed a «cash-flow gap» over the next few months and has decided to approach the Burmans for immediate funding support to sustain the operations of the company. The company did not specify details regarding the extent of the funding.

logistics solutions provider Ecom Express has announced a strategic partnership with Truecaller for business to drive reliable and secure customer communication and enhance trust in logistics interactions. Ecom Express, which serves thousands of online sellers, direct to consumer or D2C brands, and e-commerce marketplaces, is leveraging Truecaller's communication solutions to minimise call rejection rates and provide greater transparency to its customers, according to a release. Ecom Express has adopted Truecaller's Customer Experience solution, with a view to ensuring seamless, secure, and reliable communication with customers across India, the release added. Leveraging Truecaller Verified Business Caller ID as part of the customer experience solution, Ecom Express ensures that its customers can instantly recognise verified calls through elements such as the company name, logo, a verified green badge, and a category name.

Reserve Bank of India (RBI) has reassured depositors of IndusInd Bank that “there is no cause for concern” amid recent worries about the bank’s financial health. IndusInd Bank recently revealed that it faced some financial discrepancies concerning its currency derivative transactions over the past seven to eight years, which will result in a financial hit of Rs 1,600 crore. “There has been some speculation relating to IndusInd Bank in certain quarters, perhaps arising from recent events related to the bank. The Reserve Bank would like to state that the bank (IndusInd Bank) is well-capitalised and the financial position of the bank remains satisfactory,” the RBI said in a press release on March 15, 2025. Also read: After DCB Bank, Shivalik SFB, this bank slashes FD interest rates: Check latest FD interest rates

Addressing the issue, Secretary (East) Jaideep Mazumdar in a special briefing of the Ministry of External Affairs stated, «About Khalistan, this was an issue that came up… We do alert our friends to the activities of anti-India elements in their countries and their abuse of freedom of speech and other democratic freedoms to glorify terrorism and to threaten attacks against our diplomats, our parliament or our events in India. So these were also conveyed. The government of New Zealand has been receptive and has taken our concerns on board in the past as well.» India has been vocal about its stance against separatist movements operating from foreign soil. The meeting with Luxon comes at a time when the Indian government has been urging international partners to take stronger action against individuals and groups involved in extremist activities. New Zealand has previously acknowledged such concerns, and India expects continued cooperation in addressing these threats. Meanwhile, India's concerns over Khalistani separatist activities are not limited to New Zealand. Recently, India formally raised the issue with the United Kingdom following a security breach during External Affairs Minister S Jaishankar's visit to London. Ministry of External Affairs spokesperson Randhir Jaiswal stated, «We have conveyed our deep concern to the UK authorities about the breach of security arrangements by UK-based separatist and extremist elements during EAM's visit.»

National Supercomputing Mission (NSM) has been extended to December this year. It was initiated in April 2015 by the Government of India with a budget outlay of Rs. 4,500 crore for seven years initially. Supercomputing systems under NSM have supported research in critical domains such as drug discovery, disaster management, energy security, climate modelling, astronomical research, computational chemistry, fluid dynamics, and material research. NSM has created opportunities for researchers from tier II and tier III cities to conduct research by providing access to supercomputing facilities.

A whole lot of chutzpah, leaps of faith, and a dash of putting yourself out there. You wouldn’t know from Manoj Pipersania’s demeanour that he’s painfully shy. Over a virtual call from Jaipur, the 46-year-old Founder and CEO of Softserv Solutions talks animatedly about everything from being visible for the sake of his employees (more on that later) to his penchant for shooting and getting a pilot’s licence. Softserv Solutions is more than a template IT firm specialising in business automation. Established as a private limited company in 2012, the company also offers tailored barcode solutions for use cases such as warehousing, clinical research, and RFID tagging for jewellery and other products. Its 20,000 sq ft headquarters in Jaipur belies the fact that Softserv is a micro enterprise employing just over 60 people. As Pipersania puts it, “We are the richest company in the world.” And scale has little to do with it. Pipersania started out in the early aughts as a CCNA (short for Cisco Certified Network Associate) IT specialist who configured ATMs for state-run Bank of Baroda before moving to Nepal to automate financial processes for a cooperative bank in the country. Running on just three hours of sleep a night, he’d write programmes and shop them to local businesses that needed to automate their processes. Thereon, he hopscotched from one job to another across countries — in India for Electronic Data Systems, now an HP subsidiary, then the US’ largest health insurer, UnitedHealth Group.

Shares of Axis Bank Ltd.(up 2.38 per cent), ICICI Bank Ltd.(up 1.52 per cent), IndusInd Bank Ltd.(up 0.76 per cent), Federal Bank Ltd.(up 0.42 per cent) and Kotak Mahindra Bank Ltd.(up 0.41 per cent) ended the day as top gainers in the pack.