NON EXECUTIVE DIRECTOR
Vodafone Idea shares jump over 3% after KM Birla returns as non-executive chairman
Vodafone Idea shares rose as Kumar Mangalam Birla returned as non-executive chairman, succeeding Ravinder Takkar. This move comes as the company navigates significant financial challenges, including government equity stakes and revised AGR dues. The company has seen its AGR dues reduced and a moratorium on payments, providing some financial relief.
Kumar Birla back as Vodafone Idea’s non-exec Chair amid turnaround attempt
Kumar Mangalam Birla has returned as non-executive chairman of Vodafone Idea (Vi) to lead its turnaround. The company, bolstered by government relief and a $5 billion capital expenditure, aims to secure debt funding and achieve significant revenue and EBITDA growth. Birla expressed confidence in Vi's role in India's digital future.
Election cash doles may trigger short-term consumption boost in apparel, smartphones, liquor: CEOs
Cash handouts from recent state elections are expected to boost spending on items like apparel, smartphones, and electronics. Consumers, especially those with lower and middle incomes, may use this extra money for discretionary purchases. This could provide a welcome demand boost for retailers. Alcohol sales are also likely to see an immediate increase.
Kumar Mangalam Birla appointed Vodafone Idea's Non-Executive Chairman; Ravinder Takkar steps down
Vodafone Idea Limited announced significant leadership changes. Kumar Mangalam Birla will take over as Non-Executive Chairman on May 5, 2026. Ravinder Takkar will transition from Non-Executive Chairman to Non-Executive Vice Chairman on the same date. Both leaders continue in their directorial roles. This strategic move signals a new chapter for the telecom company.
Companies give Bond Street a pass, take bank route for funds
Corporate borrowers are increasingly favoring bank loans over bond issuances as rising capital market yields diminish the cost advantage of bonds. Spreads between bank lending rates and bond yields have significantly compressed, particularly for higher-rated entities, leading to a notable shift in fundraising strategies.
Ramkrishna Forgings set to foray into forged wheel production next month
Ramkrishna Forgings is set to make waves in the manufacturing sector as they commence operations at their Chennai facility in June. This venture into forged wheel production positions them to create Asia's second-largest wheel manufacturing unit. With an impressive order book of ₹9,635 crore, FY27 is shaping up to be a pivotal year, underlining the company's ambitious growth trajectory.
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Centre allows 100% FDI in insurance via auto route
"Foreign investment in this sector shall be subject to compliance with the provisions of the Insurance Act, 1938(4 of 1938), and the condition that companies receiving FDI shall obtain necessary licence or approval from the Insurance Regulatory and Development Authority of India to undertake insurance and related activities," the notification stated.
India notifies 100% foreign investment in insurance sector, LIC limit stays at 20%
The central government has notified 100% Foreign Direct Investment (FDI) in insurance companies under the automatic route, allowing foreign investors to fully invest in the sector without prior approvals, according to a report by ET Now citing agencies.
'My little brown boy, I f---ing own you': Who is Lorna Hajdini? Senior JPMorgan executive sued by junior staffer Chirayu Rana in sexual harassment case
JPMorgan Chase executive Lorna Hajdini faces a sexual harassment lawsuit filed by junior staffer Chirayu Rana. Rana alleges Hajdini used her power to drug him, make racially abusive remarks, and threaten his career after he rejected her advances. The complaint details a pattern of unwanted advances and propositions, leading to Rana's alleged PTSD and professional difficulties.
Fino eyes asset-light, tech-led small finance bank
Fino Payments Bank is moving forward with its plan to become a small finance bank. The bank will focus on technology and secured lending, avoiding a traditional branch model. This transition is on track despite ongoing leadership reviews. Fino aims to offer home loans, gold loans, and business loans.
Who is Lorna Hajdini? JPMorgan executive faces shocking abuse claims by married colleague
A lawsuit against a JPMorgan executive has raised serious claims of workplace harassment and abuse. A junior Indian employee has accused a senior official of misconduct, threats, and pressure linked to his career. The company has denied the claims after an internal review. The case has now brought attention to workplace safety, power misuse, and employee rights.
Infosys appoints Nitin Paranjpe as vice chairman
IT giant Infosys has appointed Nitin Paranjpe as its non-executive vice chairman. Paranjpe, currently non-executive chairman of HUL and non-executive vice chairman of Heineken NV, brings extensive experience. He will support Chairman Nandan Nilekani in guiding the board and strategic agenda. This appointment is effective immediately. Nilekani confirmed he will continue as Chairman as needed.
SC to examine PIL for dedicated revenue judicial service for land disputes
The Supreme Court on Thursday agreed to examine a Public Interest Litigation (PIL) seeking directions to the Centre and states to establish a separate Revenue Judicial Service cadre and prescribe minimum legal qualifications for officers adjudicating land disputes.
Syngene shares zoom 17% even as firm’s Q4 net profit drops 19% YoY. What's driving the surge?
Syngene shares surged despite a 19% YoY decline in Q4FY26 net profit to Rs 148 crore, as earnings rebounded sharply from Rs 15 crore in the previous quarter. The results included a Rs 20 crore gratuity credit and a Rs 25 crore exceptional loss from employee termination benefits, alongside management changes.
Bajaj Finance Q4 net rises 22%, AUM crosses Rs 5 lakh crore
Bajaj Finance reported a robust consolidated net profit of ₹5,464.6 crore for Q4FY26, a 22% year-on-year increase driven by a 20% rise in net interest income and 22% AUM growth. In a separate announcement, Rajiv Bajaj will step down from the company's board after the annual general meeting on July 30.
UCO Bank sees no MSME stress from US tariffs, Iran war
The public sector bank's chief executive, Ashwani Kumar, told ET that its loan portfolio performance behaviour is healthy on a year-on-year basis. The bank's special mention accounts in the MSME portfolio having exposure of ₹1 crore and above reduced to 1.05% of the MSME loan book in March, at ₹487 crore, as against ₹582 crore in December 2025, he said.
Indian Bank Q4 profit rises 5% to Rs 2,956 crore
Indian Bank announced a 5% increase in net profit for the fourth quarter. The bank saw its operating profit rise and its gross and net non-performing assets fall significantly. Despite challenges foreseen in treasury operations due to global events, the bank projects steady growth in advances for the current fiscal year. Deposits also showed robust growth.
Rajiv Bajaj to step down from Bajaj Finance board, opts out of re-election at 2026 AGM
Rajiv Bajaj is stepping down from the Bajaj Finance board. He will not seek re-election at the annual general meeting on July 30, 2026. This marks a significant leadership change after his long association. The board acknowledged his valuable service and contributions. Bajaj will cease to be a non-executive director post the AGM.
Induction cooktop: EPACK Durable expands into infrared cooktops as gas squeeze shifts demand
EPACK Durable Limited has launched infrared cooktops, expanding its electric cooking range. This move supports a national trend towards electric cooking, driven by global energy market disruptions. The company's expansion diversifies its product offerings beyond seasonal air conditioners. This strategy aims to enhance revenue streams and improve long-term profit margins.
Heatwave spurs surge in AC, beverage, ice cream output in India
Soaring temperatures have triggered a sharp demand rebound for ACs, beverages, and ice cream, with companies boosting output after a 50% sales surge, despite price hikes and supply chain challenges.
MFIs bounce back after 11 quaters of contraction and write-offs
India's microfinance sector showed a strong rebound. The loan portfolio expanded significantly in the March quarter. This marked a recovery after a long period of contraction and write-offs. Delinquency rates had also declined. This positive trend is expected to continue.
India Inc must give ‘Bharat’ a seat in boardrooms
Indian companies are focusing on growth in tier-2 and tier-3 cities, known as Bharat. However, their boardrooms do not reflect this market. Boards are dominated by individuals from tier-1 cities. This disconnect impacts strategy. Companies need directors with experience in these markets. This inclusion is vital for future success and competitive advantage. Bharat deserves a seat at the boardroom table.
AU Small Finance Bank files final application for universal banking licence: Vivek Tripathi
AU Small Finance Bank has submitted its final application for a universal banking license. This follows the Reserve Bank of India relaxing a key requirement regarding a non-operative holding company. The bank is fully prepared for this transition. AU Bank received its in-principle license last year and has been working towards this conversion.
One MobiKwik Systems shares soar 20% in two sessions. What’s triggering the sharp surge?
MobiKwik Systems shares surged on Tuesday. The Reserve Bank of India approved its application for a Non-Banking Financial Company license. This allows the launch of a new lending arm, MobiKwik Financial Services Private Limited. The company plans to expand regulated lending and introduce innovative credit products. This move strengthens its fintech platform strategy.
Microfinance sector returns to growth after 11 quarters of contraction, loan portfolio rises 5.3%
The microfinance sector has turned a corner, showing growth in the January-March period. This follows a period of contraction and write-offs. The market size has expanded, and loan portfolios are growing. Delinquency rates have also declined across lender categories. This positive trend indicates a steady recovery for the industry.
AU Small Finance Bank files for final universal bank licence
AU Small Finance Bank has submitted its final application for a universal banking license after the RBI relaxed the non-operative holding company requirement. The bank is fully prepared technologically and product-wise for the transition, having received in-principle approval last August. This move signifies a significant step towards becoming a full-fledged universal bank.
Digital lenders put small business on watch list
Digital lenders are becoming cautious about loans to small businesses like restaurants and petrol pumps. This move follows disruptions in West Asia that have increased costs for several sectors. Lenders are taking pre-emptive steps, especially for unsecured loans. Early signs of stress are visible, and while repayments have held up, future stress is a concern.
600 Google staff urge CEO Sundar Pichai to reject classified military AI contract
More than 600 Google employees demanded Monday that the company reject a proposed Pentagon deal that would allow its artificial intelligence technology to be deployed in classified military operations, a statement said. Google already holds a contract with the US Department of Defense on non-classified workloads through a program known as genAI.mil, and the proposed new deal would extend Gemini's capabilities into classified domains.
MobiKwik gets RBI nod for NBFC licence, to launch in-house lending arm
Fintech firm MobiKwik has secured a crucial Reserve Bank of India approval for a non-banking financial company license. This paves the way for MobiKwik to launch its own lending business through a wholly owned subsidiary. The company plans to offer new credit products for consumers and merchants.
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