Mint New Delhi - February 14, 2025

In this issue

February 14, 2025

Big businesses may take longer to get benefit of rate cut

The recent policy rate cut by India's central bank should turn out to be good news for individuals and small businesses.

3 mins

Cash crunch at AGS hits banks' ATM ops

A cash crunch at India's second-largest ATM manager AGS Transact has begun to impact cash dispensers of some of India's top domestic banks, after sparking defaults on bank loans, statutory payments and staff salaries.

2 mins

Interim REL chief to replace Saluja

An 18-month public spat over control of Religare Enterprises Ltd (REL) finally ended on Thursday with the company confirming chairperson Rashmi Saluja's ouster and the appointment of independent director Praveen Kumar Tripathi as interim chairman.

2 mins

Romancing the chatbot, in the age of AI

Director-writer Spike Jonze's 2013 sci-fi film Her, coincidentally set in 2025, depicts a gentle but doomed romance between a lonely writer Theodore and his personal operating system Samantha.

3 mins

GST Council weighs rate rejig to lift consumption

Council may drop 12% slab, shift several items to 5%, and others to 18%

3 mins

Tax relief in budget for middle class, not rich: FM

Finance minister Nirmala Sitharaman on Thursday defended the tax relief measures in the Budget, emphasizing that they primarily benefit middle-income earners.

1 min

FY26 to see drop in road execution

The execution of road construction by the ministry of road transport and highways (MoRTH) will decline by 5% in fiscal year 2026 (FY26) to 9,500-10,000km from the estimated road construction of 10,000-10,500km in FY25, ratings agency Icra said in a report.

1 min

Income tax bill tabled; FM seeks review by LS panel

Legislation gives priority to simplicity, clarity, reduction in litigation arising from complexity

2 mins

Karnataka MFI ordinance isn't that bad, but industry is still worried

The new ordinance notified by the Karnataka government to regulate microfinance loan recoveries may have come as a relief to non-bank microfinance companies regulated by the Reserve Bank of India (RBI), but experts warn that collections could get impacted in the next two quarters.

2 mins

India comfortable near $70-a-barrel crude price

The current situation is good; if it comes down from $73-74 per barrel, it's even better. Hardeep Singh Puri Union minister for petroleum and natural gas

3 mins

Imagicaaworld to raise ₹345 crore

The board of Imagicaaworld Entertainment Ltd, an amusement and water park operator owned by Maharashtra-based Malpani Group, has approved a proposal to raise ₹345 crore through a preferential issue of a mix of equity and warrants at ₹73.50 apiece.

1 min

Pristyn Care Grapples With Exits, Cash Crunch

The firm became a unicorn in 2021 after raising $100 million in Series E

2 mins

IFC Invests in India's First Sustainable Road Bond

International Finance Corporation (IFC), the private sector arm of the World Bank, has invested ₹860 crore ($98.35 million) in India's first sustainability-linked bond (SLB) issue in the highways sector.

1 min

Leyland's margin run may go on

Climbing up Ashok Leyland's better sales mix in Q3FY25 led to strong margin performance.

2 mins

Bullish or bearish? Mint tests market mood

Stocks have taken a sharp fall, tumbling 12% since their September peak.

2 mins

Carlyle auto parts platform takes shape with $600 mn buyouts

Global investment firm Carlyle on Thursday said it has built a diversified auto components platform under which it has consolidated Highway Industries and Roop Automotives Ltd by acquiring a controlling stake in the two companies.

1 min

Domestic demand saves the day for SAIL in Dec quarter

Steel Authority of India Ltd's (SAIL) shares have risen 9% in the past two trading days as the Q3FY25 results did not disappoint in an otherwise weak market for metal stocks.

1 min

Sebi seeks greater access to social media records

WhatsApp groups and Telegram channels have become popular among market participants

1 min

Canva aims to democratize design: Co-founder Adams

The company sees significant growth potential in India, its fourth-largest market

2 mins

TaMo confident of EV leadership

Tata Motors will maintain its leadership in the electric cars segment of India's automobile market, and is not perturbed by launches by other carmakers, managing director Shailesh Chandra said on Thursday.

1 min

Showcasing India ingenuity on the global stage

Bindwel Technologies, South Asia's largest bookbinding machine manufacturer, is set to make history as the first Indian equipment maker at Hunkeler Innovation Days (HID).

1 min

JioCinema, Disney OTT apps merge

ioStar, the joint venture owned by Mukesh Ambani's Reliance Industries Ltd and the Walt Disney Company, has set ambitious goals for its video streaming business as it sets to merge the two OTT apps—JioCinema and Disney+ Hotstar—into a new single OTT platform, Jio-Hotstar today (14 February).

1 min

Fantasy sports may see 10% revenue dip

Fantasy sports in India may be in for a rough season. The industry may see a 10% year-on-year decline in revenue for FY25 amid the changes in tax policy, according to Deloitte India and the Federation of Indian Fantasy Sports.

1 min

Draft bill sets stage for entry of foreign law firms into India

Proposed changes give Centre overriding powers over Bar Council of India; restrict strikes

2 mins

Arab states wake up to fact that Trump means what he says on Gaza

Egypt leads race for alternative to Trump plan it fears could destabilize the Middle East

4 mins

China Tries To Play The Role Of Peacemaker In Ukraine

As President Trump and Russian President Vladimir Putin signal they are prepared to start negotiations to end the war in Ukraine, China is pushing to play a role.

5 mins

Russian bitcoin exchange co-founder to be freed in deal for American's release

The Russian co-founder of a popular bitcoin exchange will be released from U.S. custody Wednesday, a day after a deal between Washington and Moscow freed American Marc Fogel, a U.S. official said.

4 mins

Tata Steel Set to Tap Bond Mkt After 1 Yr

Tata Steel is set to tap the corporate bond market after a gap of nearly one year, two people familiar with the matter said on Thursday.

1 min

Adani Green Exits Projects in Sri Lanka

Adani Green Energy Ltd won't build two wind power projects in Sri Lanka after the new government sought lower tariffs, the latest setback to the Gautam Adani-led conglomerate's overseas ambitions.

1 min

Public sector general insurers achieve financial turnaround

Public sector general insurance companies that have historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said on Thursday.

1 min

PV Dispatches to Dealers Up 1.6% in January

Passenger vehicle (PV) dispatches from factories to dealers increased 1.6% year-on-year in January at 399,386 units, aided by robust demand for utility vehicles, Society of Indian Automobile Manufacturers (SIAM) said.

1 min

Baba Kalyani to meet siblings

Baba Kalyani, chairman and managing director of Bharat Forge, has agreed to meet his brother and sister to discuss the construction of a Samadhi, or a memorial, to their late mother Sulochana Kalyani even as the siblings feud over the division of Group's assets.

1 min

HC bars Adyar Gate from 'Dakshin'

In a relief for ITC Ltd, the Delhi high court on Thursday restrained Chennai-based Adyar Gate Hotels Ltd from using the name and trademark \"Dakshin\" for their standalone restaurant.

1 min

Hindalco Beats Q3 Profit View

Hindalco Industries, one of India's largest aluminium and copper producers, reported a better-than-expected third-quarter profit on Thursday, helped by higher aluminium prices.

1 min

Nissan and Honda ditch $60 bn merger talks, face uncertainty

Nissan and Honda ended merger talks to forge a $60 billion car company on Thursday, pitching Nissan deeper into uncertainties and highlighting the pressure on the legacy automakers from Chinese rivals upending the industry.

1 min

Trump, Modi to discuss trade pact as reciprocal tariffs loom

The leaders meet amid a tariff threat that may roil relations between the two nations

1 min

Inside the e Vitara's Passage to India

It's made in India, but Suzuki chose to launch its first electric vehicle in Europe. Here's why.

8 mins

Can you say no to EPF? If so, how?

However, the decision to opt out could impact retirement savings, tax-free benefits, insurance coverage and your employer's matching contribution

4 mins

A Future-Ready Tax Bill: Fewer Rules, Simpler Language and a New Tax Year

The new tax bill and charter aim to bring reforms rooted in both transparency and justice

3 mins

India's Income Tax Bill Sets the Stage for Major Reforms

The Income Tax Act of 1961 has undergone innumerable amendments since its inception (4,000, as stated by the finance minister in Parliament).

3 mins

The impossible trinity is getting the better of us

Only when Indian markets mature enough to grant us the luxury of full capital account convertibility and a freely floating rupee will we truly gain monetary policy independence

2 mins

AI is taking a K-shaped path that opens up opportunities for India

We should focus on cost-efficient AI that democratizes access and offers population-scale solutions

3 mins

Tangled up in red tape: Can we really hope for relief?

Even the most globetrotting and good-natured of business executives are guaranteed to find India's rules and regulations bewildering.

3 mins

Trump Fanned the Price Fears That Haunt His Presidency Now

Political rhetoric on inflation has impacted people's expectations

3 mins

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