Business

Fraud-hit IndusInd Bank on Wednesday has reported a Rs 2,329 Crore loss for the March quarter, its worst performance ever, as the interim management opted to go for a deep-clean exercise beyond recognising the impact of wrong accounting practices. The bottom-line nosedived to Rs. 5,014 crores, largely due to the microfinance book, where a Rs. 1,800-crore incorrectly classified accounting was unearthed and reported as a gross non-performing asset, and also some misappropriations in the two-wheeler segment. The Banks financial debacles…

Gurgaon : REC Limited, a Maharatna CPSU and a leading NBFC under the Ministry of Power, has successfully raised ₹ 5,635 crore through private placement of bonds. The offering included ₹ 3,000 crore through 2 years 8 Month bonds at coupon of 6.52% p.a.  and ₹ 2,635 crore through 10-years 11 months bonds at coupon of 6.81% p.a. The bond issuance witnessed an overwhelming response from market participants, reflecting strong investor confidence in the company’s robust financial position and growth prospects. The bonds have been…

Consolidated Financial Highlights Stand Alone Financial Highlights Management comments Commenting on PFC’s performance, CMD Ms. Parminder Chopra shared that PFC continues to set new benchmarks as India’s highest profit-making NBFC — both on a consolidated and standalone basis. With a focus on delivering sustainable growth that is Realistic, Resilient, and Robust, we have delivered yet another year of strong financial performance. With a double-digit 13% growth in our loan portfolio, we are powering India’s power & infrastructure sector with confidence…

Indian Renewable Energy Development Agency Ltd. (IREDA), the largest pure-play green financing NBFC in the country, has been recognized as the top performer among Power and NBFC sector CPSEs by the Department of Public Enterprises (DPE) for the annual performance MoU signed by the company for FY 2023-24. According to the list issued by DPE for FY 2023-24, which includes ratings for 84 CPSEs, IREDA is among the top 4 CPSEs in the country, achieving a score of 98 and…

Indian Institute of Technology Madras’ (IIT Madras) Centre of Excellence for Road Safety (CoERS) has launched a landmark ‘Data Driven Hyperlocal Intervention’ (DDHI) programme to address road crashes across India. Taken up under the aegis of the Ministry of Road Transport and Highways (MoRTH), this initiative prioritises 100 districts identified as high accident-burden zones through comprehensive analysis of national crash data. The DDHI alignment session-cum-launch event was organized at Vigyan Bhawan, New Delhi, on Tuesday (20th May 2025) with presence of leaders…

To strengthen and enhance India’s cybersecurity audit ecosystem, the three-day national annual conference, ‘CERT-In SAMVAAD 2025,’ organized by the Indian Computer Emergency Response Team (CERT-In) in collaboration with SkillsDA, was inaugurated by Shri S. Krishnan, Secretary, MeitY, Shri Brajendra Navnit, Principal Secretary, Information Technology and Digital Services Department, Government of Tamil Nadu, Dr. Kamakoti Veezhinathan, Director, IIT-Madras, Dr. N. Subramanian, Executive Director, Society for Electronic Transactions and Security (SETS) and Dr. Sanjay Bahl, Director General, CERT-In on May 19, 2025…

Since the decades, Term insurance was considered to be the yardstick of financial security offering complete protection without the frills of savings or investment; Unlike traditional life insurance plans, which blend coverage with wealth-building, since the preterm of a term insurance is avidly simple: if the policyholder passes away during the policy term, their family receives a lump sum payout. No bonuses, no returns — just uncompromised protection. But as financial awareness grows, a nuanced question becomes deplorable – When…

Amendment gives regulatory clarity to enhance ease of doing business for brokers. The Department of Economic Affairs (DEA), Ministry of Finance, amended Contracts (Regulation) Rules (SCRR), 1957, via Gazette Rule 8 of the Securities Notification G.S.R. 318(E). Rule 8 – Qualifications for membership of a recognised stock exchange – Securities Contracts (Regulation) Rules, 1957: The rules relating to admission of members of a stock exchange seeking recognition shall inter alia provide that: (1) No person shall be eligible to be elected…

Union Minister Chirag Paswan Inaugurates IBSM in Patna with Strong Domestic and Global Participation Over 70 International Buyers Explore Sourcing Opportunities from Bihar’s Rich Agri and Food Ecosystem The Ministry of Food Processing Industries in partnership with Agricultural & Processed Food Products Export Development Authority (APEDA), Trade Promotion Council of India (TPCI), and Government of Bihar, is organizing International Buyer Seller Meet (IBSM) in Patna, Bihar on 19th & 20th May 2025. The event aims to bring together key stakeholders from the…

In a world racing towards electrification—from cars to villages—one thing remains crucial: affordable, fast, and safe batteries. While lithium-ion batteries have powered this revolution so far, they are costly. Besides, lithium resources are limited and geopolitically constrained. But scientists in Bengaluru may have just found a powerful alternative. A research team at the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), an autonomous institute of the Department of Science and Technology (DST) has developed a super-fast charging sodium-ion battery (SIB) based on…