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Subscribe to enjoy similar stories.Mumbai: The TVS Venu Group has been expanding its financial services operations across multiple segments, including insurance and asset management, and their latest plan to acquire a 10% stake in Jana Small Finance Bank (SFB) marks a strategic extension into banking, giving access to the mass affluent and small-business segments.On Monday, the Chennai-based conglomerate said it will acquire a 9.9% stake in the bank through a combination of primary issuance of warrants and a secondary purchase. This includes acquisition of a 5.64% stake by TVS Venu for ₹317 crore and 4.9% by TVS Motor Company for ₹193 crore.Bengaluru-based Jana SFB has over 12 million customers, and advances and deposits of over ₹35,000 crore each as of 31 March 2026.

Subscribe to enjoy similar stories.NEW DELHI/MUMBAI: India’s largest banks are stepping up cyber defences, hiring, and insurance coverage as concerns grow that advanced AI systems could make cyberattacks faster and harder to contain, exposing gaps in preparedness and protection.The pressure has risen after a finance ministry meeting with top banking executives on 23 April focused on banks’ preparedness for AI-linked cyber threats. The meeting came weeks after Anthropic unveiled Claude Mythos, a frontier AI model the company said could identify vulnerabilities and conduct cyberattacks at unprecedented speed.Concerns around AI-enabled attacks have grown since September last year, when a cloud storage server exposed personal banking data of nearly 300,000 individuals, including loan account details linked to several large banks and non-banking finance companies.India’s largest private lender, HDFC Bank, told Mint it reviews cyber insurance annually and is now widening coverage as risks evolve.“The bank is continuously strengthening its cyber security posture, including hiring highly-skilled talent across security engineering, developer security operations, red-teaming or simulation of cyber attacks, and AI security,” said Ramesh Lakshminarayanan, group head of information technology and chief information officer at HDFC Bank.At Axis Bank, teams participate in programmes such as adversarial AI and ‘red teaming’ to simulate attacks.

Subscribe to enjoy similar stories.Policy planners expect some repayment stress to affect small-ticket loans disbursed under two flagship government schemes—PM SVANidhi Scheme and Pradhan Mantri Mudra Yojana—in the next few quarters as a fallout of the war in West Asia, according to three people aware of the issue.The PM SVANidhi Scheme provides working capital term loans to urban street vendors, while the Pradhan Mantri Mudra Yojana funds micro enterprises and small businesses. Many of the loan beneficiaries of these schemes are vulnerable to economic disruption and rising living costs.“We are expecting some stress in the PM SVANidhi Scheme portfolio as it directly caters to street vendors, who form an important part of the informal urban economy.

Subscribe to enjoy similar stories.MUMBAI: India’s alternative investment fund industry is seeking to widen access to a small but fast-growing pool of wealthy investors, arguing that a cumbersome accreditation system and limited incentives are slowing participation even as the sector scales sharply.The industry has made a representation to the Securities and Exchange Board of India (Sebi) seeking a simpler accreditation system and stronger regulatory benefits for accredited investors, according to two people aware of the development.“AIFs made a representation to Sebi last month to make the accreditation process more friendly for investors,” one of the people said on condition of anonymity. “Accredited investors also need proper incentives to grow this segment.

Subscribe to enjoy similar stories.Bengaluru: India’s listed office real estate investment trusts (Reits) are building artificial intelligence-resilient, GCC-driven tenant portfolios as they focus on expansion through acquiring premium assets and increasing occupancy in FY27.Reits have emerged from a strong year with good leasing and increased demand from global capability centres (GCCs). The publicly listed office Reits in the country—Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust (Biret) and Knowledge Realty Trust (KRT)—have seen their net operating income, occupancy levels and distribution grow in FY26.Bagmane Prime Office REIT was the fifth and latest to list in May.

Subscribe to enjoy similar stories.The finance ministry, on Monday, has directed all public sector banks, insurance companies, and financial institutions to implement austerity measures, including switching to electric vehicles (EVs), curtailing foreign travel, and shifting to video conferencing for meetings, as the government moves to reduce expenditure and protect the country's financial system from economic instability due to the West Asia war.“All organisations may aim at replacing the petrol and diesel cars hired by them in their head offices and branch offices with electric cars as far as possible,” according to an official circular of the department of financial services (DFS) reviewed by Mint.Earlier this month Prime Minister Narendra Modi had made seven big appeals, austerity measures so to speak, to cushion India from the economic uncertainties arising from the prolonged West Asia war. These included conserving petrol and diesel by using public transport and metro; avoiding purchasing gold for a year, and restricting foreign travel to conserve forex."It is time for us to use petrol, diesel and gas with great care,” Modi said on Sunday while inaugurating projects in Hyderabad, Telangana.

Subscribe to enjoy similar stories.MUMBAI: The government’s decision to curb silver bar imports could push exchange-traded funds (ETFs) tracking the white metal from trading at a discount to moving into a premium over spot prices, after two weeks, amid concerns of an impending supply squeeze, analysts said.This would mark a shift from ETFs trading at a discount to net asset value (NAV), which is calculated from spot prices, to potentially trading at a premium. It implies that if spot prices rise, ETF prices could rise more, and if spot prices fall, they would fall less than the spot.Premiums and discounts typically reflect demand conditions.

Subscribe to enjoy similar stories.Mumbai: Two strategic joint ventures have set the Sajjan Jindal-led JSW Steel on course to becoming one of the world's biggest steel companies outside of China.The first joint venture is with Japan's JFE Steel through a recent 50% stake sale in Bhushan Power & Steel Ltd (BPSL), a company it acquired through the bankruptcy court five years ago.Add to that another equal joint venture with South Korea's POSCO to set up a new 6 million tonnes per annum (mtpa) capacity steel plant in Odisha.Including planned capacity expansions at BPSL, the two partnerships would add about 16 mtpa capacity by 2032, setting it on course to reach 80 mtpa capacity by 2032, according to Jayant Acharya, the chief executive officer and joint managing director of JSW Steel.The company’s consolidated steelmaking capacity stood at just under 38 million tonnes per annum at the end of FY26, including BPSL.These capacity additions would make JSW Steel a strong contender to be the world's largest steelmaker outside China by 2032.At present, ArcelorMittal is the world’s largest steel company outside China, with a capacity of 65 million tonnes per annum, according to 2024 manufacturing capacity data from the Belgium-based World Steel, the latest figures published by the international trade body.The BPSL stake sale to JFE Steel brought JSW Steel about ₹37,250 crore, which sharply deleveraged its balance sheet, and gave the company the financial muscle to fund expansion. The Mumbai-headquartered steelmaker pared about ₹30,000 crore of debt in FY26, mostly in foreign borrowings.

Subscribe to enjoy similar stories.Telecom operator Vodafone Idea showed early signs of operational improvement in the March quarter, as its subscriber base stabilised and average revenue per user (Arpu) rose.Analysts, however, said the company’s long-term recovery still hinges on securing larger funding to manage spectrum liabilities and improve services.On Saturday, the company’s board approved a ₹4,730 crore fund infusion from promoter Aditya Birla Group entity Suryaja Investments Pte Ltd, through issuance of 4.3 billion equity-convertible warrants at ₹11 per share.The funding is largely seen as a signal to lenders that promoters are backing the company at a time when Vodafone Idea has been struggling to secure much-awaited bank financing, according to analysts.“The warrant issue is a positive signal because it reflects continued promoter commitment and brings fresh capital into Vodafone Idea. But ₹4,730 crore by itself is not large enough to resolve the company’s structural challenges,” said Parag Kar, an independent telecom analyst.The bigger challenge remains spectrum liabilities, future payment obligations, capex needs, and cash-flow generation.

Subscribe to enjoy similar stories.New Delhi/Mumbai: The Supreme Court’s decision to send the high-profile Kapur family dispute over late Sona Comstar chairman Sunjay Kapur’s estimated ₹30,000-crore estate to mediation under former chief justice of India D.Y. Chandrachud has drawn attention to how Indian courts are handling promoter-family battles outside traditional courtroom litigation.Mint explains whether mediation can really solve inheritance battles that carry financial and emotional stakes, and how mediation works in high-profile family business disputes.The inheritance battle emerged last year after Sunjay Kapur, the then chairman of Sona Comstar, one of India’s largest automotive technology and EV component makers, died following a heart attack.Sunjay Kapur’s children – Samaira and Kiaan – from his earlier marriage to actor Karisma Kapoor, moved the Delhi High Court, challenging a will that allegedly left his entire estate to his widow, Priya Kapur.

Subscribe to enjoy similar stories.Persistent tensions in West Asia and a worsening energy crisis at home dragged Indian equities to their worst weekly performance in two months. The Nifty 50 ended the week 2.2% lower at 23,643.50, while the Sensex fell 2.7% to 75,237.99.

Subscribe to enjoy similar stories.MUMBAI: In a move aimed at deepening India’s commodity derivatives market, the Securities and Exchange Board of India (Sebi) is holding early-stage discussions with market infrastructure institutions to allow foreign portfolio investors to trade bullion derivatives without participating in physical settlement, according to two people familiar with the matter.Foreign portfolio investors (FPIs) are currently allowed to trade only in non-agri commodity derivatives that are cash settled, such as crude oil and natural gas contracts. Sebi had opened up that segment to foreign investors in June 2022.

Subscribe to enjoy similar stories.India's gold imports from the United Arab Emirates (UAE) under the 2022 trade agreement are drawing fresh attention amid India's push to curb bullion imports to conserve foreign reserves.Gems and jewellery imports from the UAE, dominated by gold, have surged to one-third of India's total shipments in 2025-26, according to commerce ministry data reviewed by Mint.Even as India’s gems and jewellery imports hit a record $71.98 billion in 2025-26, imports from the UAE rose from $14.79 billion in 2022-23 to $27.09 billion in 2024-25, and stood at $24.08 billion during April-February 2025-26.Total gems and jewellery imports from the UAE stood at $15.93 billion in 2021-22, according to the Gem & Jewellery Export Promotion Council.At the same time, utilization of the tariff rate quota (TRQ), which allows a limited quantity of gold imports from the UAE at a duty rate one percentage point lower than the standard rate, has remained modest at about 140 tonnes in 2024-25 and just 8.58 tonnes so far in 2025-26.The trend has raised concerns that higher inflows under the concessional route could dilute the impact of 15% customs duty on gold and silver, as traders may increasingly route imports through the lower-duty quota, weakening efforts to curb imports and manage the trade deficit.It also assumes significance as Prime Minister Narendra Modi has appealed to citizens to avoid buying gold for at least a year, urging them to invest in productive assets instead to help reduce the country’s import burden and strengthen the economy.“The trade agreement does offer some price advantage due to differential duty and would hence need to be monitored.

Subscribe to enjoy similar stories.Bengaluru: Realty major DLF Ltd has set a sales target of ₹20,000 crore for FY27, unchanged from last year, as it prioritises margins and cash flows over aggressive pre-sales growth.“We are comfortable in the ₹20,000 crore sales trajectory. If we want, we can do sales of ₹50,000 crore in a year also,” DLF managing director Ashok Tyagi said during an analyst call on Thursday.

Subscribe to enjoy similar stories.India stands at a unique economic crossroads. It possesses massive household wealth that remains largely disconnected from its industrial engine. While the nation’s micro, small and medium enterprises (MSMEs) grapple with a staggering credit gap estimated at about $310 billion, Indian households are sitting on an estimated 34,600 tonnes of gold valued at roughly $3.8 trillion as of June 2025 as per a Morgan Stanley report.

Subscribe to enjoy similar stories.Days after Prime Minister Narendra Modi made a clarion call for austerity, the Centre sharply raised import duty on precious metals to save dollars, at a time when the Gulf crisis boosts energy prices, weakens the rupee, and eats into the nation's current account. While economists said the decision could dampen demand and arrest the rupee's fall, others said it may fuel smuggling and impact jobs in the jewellery sector.The finance ministry increased the total import duty on gold, silver and platinum from 9.18% to 18.45%.

Subscribe to enjoy similar stories.New Delhi: Tata Motors Ltd, India’s largest commercial vehicle maker, expressed caution about the industry’s growth in FY27, saying the true impact of the West Asia war on fuel prices and consumer sentiment is yet to be seen.The Mumbai company said it expects single-digit growth for the industry this fiscal year after retail sales grew 12% in FY26, crossing a million units for the first time as the goods and services tax (GST) cuts in September 2025 boosted consumer sentiment.Management’s comments came after the company reported a 5% dip in consolidated net profit in FY26 to ₹3,030 crore on Wednesday evening. Without a ₹1,428-crore loss on investments due to its equity stake in Tata Capital, which was listed during the fiscal year, the company’s profit grew by 9% to ₹4,458 crore.

Subscribe to enjoy similar stories.For strict institutional gatekeepers, Billboard has been quite lax about allowing fake artists on its charts. By November, several AI performers were featured, including country music’s Breaking Rust and R&B’s Xania Monet.It’s the kind of casual absurdity that AI music startups like Suno are hoping will become, well, casual. “The technology finally allows for billions of people to be creative, to have the fruits of their labor, to feel fulfillment in a different way,” Suno co-founder Mikey Shulman told Forbes in April.But the inclusion of those fruits—AI creations—on the music charts is an existential emergency signal, raising logistical questions for the music industry.

Subscribe to enjoy similar stories.The markets regulator has proposed easing physical settlement rules for select agricultural commodity derivatives to boost liquidity and participation in a market that has struggled with weak volumes and operational hurdles.In a Tuesday consultation paper, the Securities and Exchange Board of India (Sebi) proposed a phased framework under which some agri commodity contracts can initially trade as cash-settled contracts before transitioning to mandatory physical delivery.Mint explains:Sebi has recommended allowing exchanges to launch or revive select agricultural commodity derivatives contracts as financially settled products in the initial phase, before mandatorily shifting them to physical settlement once they meet predefined thresholds. These thresholds could include average daily traded volume, open interest levels or a maximum period of two years, whichever is earlier.The proposal marks a shift from the regulator's current framework, under which physical delivery is the preferred mode of settlement for commodity derivatives contracts.

Subscribe to enjoy similar stories.New Delhi: The apex drug regulator has directed all licensed blood centres to enrol in a national digital portal, as part of a crackdown after cases of Human Immunodeficiency Virus (HIV) infections in children due to contaminated transfusions across multiple states, according to two government officials and a document reviewed by Mint.The Central Drugs Standard Control Organisation issued a directive ordering all 4,153 licensed blood banks to complete registration on the Online National Drug Licensing System portal by 13 May, a single-window platform that centralizes licensing, tracks donor histories, and provides hospitals and patients visibility into verified blood supplies.“In order to strengthen regulatory oversight, enhance transparency in blood services, and ensure easy public access to blood and its components across the country, it has been decided to generate a database of all Blood Centres on the Online National Drug Licensing System (ONDLS) portal www.Statedrugs.gov.in,” the CDSCO directive to all State Licensing Authorities (SLAs) said.CDSCO has categorized this mission as a ‘priority’.“...all State Licensing Authorities (SLAs) are requested to direct all Blood Centres within their respective jurisdictions to complete this registration latest by 13.05.2026. Action taken may be informed to this directorate for submitting to the MoHFW (ministry of health and family welfare),” the letter said.The e-RaktKosh digital backbone for blood services and National Informatics Centre (NIC) teams are involved in the information flow to manage the technical rollout.The move, authorized by drugs controller general Dr.

Subscribe to enjoy similar stories.Fintech unicorn-turned-bank Slice is preparing to enter wealth management with an AI-powered “personal CFO” embedded in its banking app, according to twopeople familiar with the matter.The company has begun beta-testing the tool, which can track balances, flag idle funds, monitor maturing deposits, build savings prompts around user goals and warn users about potential cash crunches before they happen, the people said.Slice plans to eventually add investment offerings to the platform, though it could not be ascertained when those products would be launched.Many Indians still find investing intimidating because they are overwhelmed by product choices and are unaware of how to build their wealth and assess their risk appetite, the people said. The company believes the move could help it better understand customer behaviour and eventually sharpen the design and distribution of wealth products within the app, according to one of the people cited above.The move signals Slice’s aim to evolve beyond banking, payments and credit into full-stack financial distribution at a time when wealth-tech remains one of the few fintech segments continuing to attract investor interest.The company is pitching the tool as more than a generic chatbot for personal finance, the first person close to the project said.