Business Standard - April 17, 2025

In this issue

April 17, 2025

NPCI, banks move in to tame API call overload

As UPI faces repeated outages, the concluding part of the series examines how various stakeholders are collaborating to find a durable fix

2 mins

Courts must flag cash deals worth ₹2 lakh or more to tax dept: SC

The Supreme Court on Wednesday ruled that courts must inform the relevant jurisdictional income tax authorities if a suit filed before them involves any claims of cash transactions of ₹2 lakh or more.

3 mins

Guardrails in place to check fraud: Sebi chief

Independent directors, boards, auditors must step up to rein in greed: Pandey

3 mins

Tighter norms, rising compliance failures driving scrutiny for startups

Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.

3 mins

Paytm founder-CEO gives up 21 mn Esops

Fintech firm One97 Communications' Managing Director and Chief Executive Officer Vijay Shekhar Sharma (pictured) has voluntarily surrendered 21 million shares worth about ₹1,800 crore, according to a regulatory filing and share closing price of the company.

1 min

Wipro May See Q1 Slump Amid Tariff Drag

CEO Srinivas Palia blames tariff war and macro woes for revenue slide

3 mins

AM/NS India aims for 70% green steel output by FY27

ArcelorMittal Nippon Steel (AM/NS) India plans to make 70 per cent of its steel production 'green' by financial year 2027 (FY27), aligning with India's rollout of a green steel taxonomy.

1 min

Airlines fear CORSIA's financial impact may clip their wings

Indian airlines on Wednesday voiced concerns over the new global emission standards CORSIA, set to take effect in 2027, calling the targets \"unrealistic\" and warning that the norms could impose a \"significant\" financial burden on them.

1 min

Panasonic's India arm aims for over 10% growth in FY26

Panasonic Life Solutions India is targeting double-digit growth in FY26, driven by strong sales of air conditioners, electrical devices, and B2B verticals.

1 min

CV sales may hit 1 mn after seven yrs: Crisil

After a lull spanning seven years, India's commercial vehicle (CV) industry is set to reclaim its pre-pandemic peak, with domestic sales expected to touch the one million mark in the current financial year.

1 min

Above-Normal Monsoon Forecast Brings Cheer to FMCG Companies

Fast-moving consumer goods (FMCG) companies expect demand to rise further across both rural and urban areas after the India Meteorological Department (IMD) forecast above-normal rainfall in the upcoming monsoon season.

2 mins

Moody's Cuts India's Growth Forecast for '25

Keeps growth estimates in the band of 5.5% to 6.5%

1 min

'Above-normal' monsoon no guarantee for softer inflation

The India Meteorological Department (IMD) on Tuesday forecasted that all-India average rainfall during the monsoon months may be 'above-normal' in 2025.

1 min

Kerala Logged Highest Inflation in March, Telangana Lowest

A few states recorded retail inflation above the Reserve Bank of India's (RBI)'s medium-term target of 4 per cent in March.

1 min

Smartphones ring loudest in exports

Value of shipments reaches $18.31 billion in 10MFY25

2 mins

Vance to visit India next week, meet Modi

US Vice-President J D Vance and his wife Usha Vance will travel to India next week, his office announced on Wednesday.

1 min

FY25 trade deficit with China close to $100 bn amid dumping concerns

US remains India's largest trade partner

2 mins

India Quick To Help Others, Global Share Still Modest

India, once again, has earned plaudits for being among the first responders during the moment of crisis next door, and a reliable partner to the Global South for humanitarian needs.

1 min

Tiruppur scales record ₹40K cr exports in FY25

Cashing in the most on the renewed interest of global majors due to the political crisis in Bangladesh during 2024-25, India's knitwear capital Tiruppur clocked a record ₹40,000 crore worth of exports for the first time in history, up from around ₹33,000 crore last financial year, said a top industry source.

1 min

Rupee Up For 3rd Straight Session As Dollar Weakens

The rupee extended its gains against the US dollar for the third consecutive day, tracking the fall in the dollar index, said dealers.

1 min

Experts: SC ruling backs legislation that pushes for cashless economy

Gouri Puri, a partner at law firm Shardul Amarchand Mangaldas & Co, said: \"The government has taken several tax and non-tax measures to move towards a cashless economy.

1 min

NTPC to buy unsold green energy

To absorb power from projects that failed to find any state to sign power purchase agreements

2 mins

Premiums, poor awareness hit insurance uptake

Policybazaar survey shows gap between intent and ownership of policy

1 min

Pandey to Meet Leading FPIs in US Next Week

The Sebi chief told Business Standard he will be in the United States next week, where he will meet top foreign portfolio investors (FPIs) and understand the barriers and challenges they face while investing in India.

1 min

IndusInd Derivatives Portfolio Discrepancies Impact to be marginally lower than internal review estimates, finds PwC

Shares of IndusInd Bank surged over 7 per cent on Wednesday, following its disclosure the previous day that the impact of discrepancies in its derivatives portfolio, ascertained by external agency PwC, would be marginally lower than its findings in the internal review.

2 mins

GAIL cuts cheap gas supply, replaces with costlier option

State-owned gas major GAIL has slashed the allocation of administered price mechanism (APM) gas by up to 20 per cent, replacing it with equal or more volumes of pricier New Well Gas (NWG), city gas distribution (CGD) firms said.

2 mins

Waqf properties should not be denotified: SC

In a significant development, the Supreme Court on Wednesday proposed to stay certain key provisions of the contentious Waqf (Amendment) Act, 2025, including the power to denotify properties declared as waqf by courts and inclusion of non-Muslims in central Waqf councils and boards.

1 min

Justice BR Gavai to be next CJI, swearing-in on May 14

Chief Justice of India Sanjiv Khanna on Wednesday recommended to the Centre the name of Justice Bhushan Ramkrishna Gavai as the next CJI.

1 min

UPI outages: RBI, govt monitoring situation

\"Any existing limits on the number of API calls made for transaction status checks are not enforced since the ecosystem works with trusted partners.

2 mins

Crude oil buys from US surge to 27-month high

India's crude oil purchases from the US surged to its highest in 27 months in April as state-run oil companies pressed the pedal on sourcing liquefied natural gas (LNG) from US projects.

3 mins

Global Chipmakers Feel the Pinch of Shifting Trade Policy

Nvidia, AMD shares were down nearly 6% in early trade

1 min

Trump Jumps In On Tariff Talks With Japanese Officials

US President Donald Trump said he will personally attend a meeting of Japanese and US trade officials on Wednesday, a surprise move that underlines his eagerness to oversee negotiations triggered by his barrage of tariffs on global imports.

1 min

ASML Records Lower Orders, CEO Puts Blame on US Tariffs

ASML Holding NV reported orders for the first quarter that were almost a billion euros less than expected and warned that it doesn't know how to quantify the impact from recent tariff announcements, which are threatening to upend the semiconductor industry.

1 min

China Q1 GDP logs 5.4% growth, beats estimates

Taking Stock

1 min

WHO members agree on draft 'pandemic treaty'

Five years after Covid-19 triggered national lockdowns, economic uncertainty and killed millions, the World Health Organisation's (WHO's) member countries agreed on a draft \"pandemic treaty\" that sets guidelines for how the international community might confront the next global health crisis.

1 min

US tariffs may drive global trade contraction this year: WTO

India's exports are likely to face strong headwinds, with the World Trade Organization (WTO) on Wednesday sharply downgrading its forecast for global merchandise trade volume in 2025—to a 0.2 percent contraction from its earlier estimate of 2.7 percent growth—after factoring in the 10 percent baseline tariffs imposed by the US.

2 mins

China Faces Up to 245% Tariff for Retaliation: US

China now faces tariffs up to 245 percent on imports to the United States due to its retaliatory actions, the White House has said, as the trade war escalated between the world's two largest economies.

2 mins

Changing Objectives

Govt must not lose sight of disinvestment

2 mins

Economics for the underprivileged

Don't judge this book by its clickbait title. The author actually agrees that poverty—no matter how defined—has reduced globally, though at a far slower pace than the rate at which wealth has concentrated at the top.

3 mins

Uncertain tides in oil

Oil demand will slow, but uncertainty doesn't help India

2 mins

Trade and Trump

We should coordinate with friends to make the Trump administration irrelevant to the world's progress

5 mins

Navigating the tariff shock

It is now clear that American President Donald Trump is determined to upend the global trade order.

4 mins

'I am sanguine IPO markets will take off soon'

Following a stellar 2024, initial public offering (IPO) activity has stalled, with no mainboard listings since mid-February. TUHIN KANTA PANDEY, chairman of the Securities and Exchange Board of India (Sebi), attributes this pause to market volatility triggered by US policy shifts, which have made economic prospects uncertain and forced companies to delay their listing plans. He remains optimistic about a revival in activity. In an interview with Khushboo Tiwari, Samie Modak, and Vikas Dhoot, Pandey highlighted Sebi's efforts to engage with foreign portfolio investors (FPIs) and market participants to streamline compliance. Edited excerpts:

6 mins

Moderate valuations, healthy prospects for ICICI Pru Life

ICICI Prudential Life Insurance Company (IPRU) reported a weak performance for the January-March quarter (Q4) of FY25, seeing a decline of 3 per cent year-on-year (Y-o-Y) in annualised premium equivalent (APE) to ₹3,500 crore.

2 mins

1947: A rally before freedom

The period leading up to Independence had been good for the stock market.

2 mins

Active, informed high-risk investors should stay put

Inflows into sector and thematic (S&T) funds fell sharply from ₹5,711.6 crore in February 2025 to ₹170.1 crore in March 2025—a decline of 97 per cent. With many of these funds underperforming, investors need to assess whether to remain invested or exit.

2 mins

Banking stocks, FPIs keep mkts in green for 3rd day

Sensex up 0.4%; index sees cumulative gain of 4.3% over past 3 sessions

2 mins

Of A Trade Promise Long Overdue

Over two decades on, the Bimstec Free Trade Area Agreement remains India's longest-negotiated trade deal, with niggling issues holding it back

4 mins

BluSmart Halts Services Amid Crisis at Gensol

Uber-BluSmart deal being re-evaluated, according to sources

1 min

Google Removed 247 Million Ads in India in 2024

Internet giant Google suspended 2.9 million advertisers' accounts in India and removed 247.4 million ads in 2024 for abusing its advertisement policy, the company said in a report on Wednesday.

1 min

Check in at Mumbai airport, check out the artefacts

With 5,500 pieces, the art museum at Mumbai's T2 is one of Asia's largest public art projects. Ahead of World Heritage Day, a walk through its mural-filled corridors

2 mins

Hotels Hop on Easter Boom as Travellers Chase Quick Escapes

Long Weekend, Short Distances

3 mins

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