MUMBAI: IDBI Bank reported a standalone net profit of Rs 2,007.36 crore for the quarter ended June 30, 2026, up 3.3% from Rs 1,943.17 crore a year earlier, supported by lower provisions despite weaker operating profit. On a consolidated basis, net profit rose 6.9% to Rs 2,127.14 crore from Rs 1,987.44 crore a year ago.Net…
The first step in capital gains taxation is to identify the asset sold and determine whether the resulting gains are taxable. (Image source: Magnific) Many individual taxpayers view filing an Income Tax Return (ITR) as a straightforward task—declaring salary income, updating investment details and paying any balance tax. However, capital gains can turn an otherwise…
MUMBAI: Punjab National Bank reported a standalone net profit of Rs 5,253 crore for the quarter ended June 30, 2026, up 213.6% from Rs 1,675 crore a year earlier, aided by a sharp decline in tax outgo despite lower non-interest income. The bank reported a consolidated net profit of Rs 5,921 crore, up 228.4% from…
India’s banknotes may soon get a plastic makeover.The country is moving ahead with its plans to explore polymer banknotes as the Reserve Bank of India‘s currency printing subsidiary has invited global and domestic manufacturers to bid for the specialised material needed to print such notes. Initially, the notes are likely to be in the lower…
NEW DELHI: India’s smartphone shipments (sales) declined 10% year-on-year in the June quarter, the sharpest quarterly decline in three years since the January-March period of 2023. The impact was most severe in the mass-market segment, where sales of smartphones priced below Rs 15,000 plunged 45% from a year earlier. The sharp slowdown hurt Chinese smartphone…
MUMBAI: RBI governor Sanjay Malhotra has hinted that the central bank may not react to the current bout of inflation and spurt in credit growth. Malhotra struck a notably composed tone, describing price pressures as contained even if “currently a bit elevated”, and attributed the uptick largely to supply-side disturbances.“Inflation is also under control although…
CHENNAI: Market regulator Sebi on Friday said it has extensively deployed artifcial intelligence capabilities, with these tools generating a growing number of actionable alerts. These alerts have helped uncover patterns indicating recent instances of front-running in the portfolio management services (PMS) industry.“Recently, we have noticed our AI generating enough alerts, and over a period of…
NEW DELHI: When it comes to wooing investors and facilitating sustained investments Gujarat, Maharashtra, Tamil Nadu, Goa and Odisha have emerged as the top performing states in the first ever ‘Investment Friendliness Index’ released by NITI Aayog on Friday.The states scored well over 50 on a scale of 1-100 in the index covering all 36…
CHENNAI: With a slate of crucial free trade agreements (FTAs) operationalised, the textile industry is upbeat on export opportunities. The UK deal, which kicked in on Wednesday, eliminates tariffs of up to 12% and brings parity with key competitors like Bangladesh and Vietnam. While companies of all sizes are actively negotiating orders, concerns remain that…
Representative photo (IANS image) BENGALURU: The quick commerce race is no longer mainly about reaching new neighbourhoods. It is becoming a fight over the same pin codes. India’s five largest operators added close to 900 dark stores between April and July this year, with Blinkit, Flipkart Minutes and Amazon Now leading the expansion, according to…
