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BusinessAnoop Bagchi has been appointed as the new Managing Director and CEO of HDFC Bank. The Reserve Bank of India (RBI) has granted approval for his appointment. HDFC Bank announced this change in a stock exchange filing on October 1. Bagchi will take over the leadership from Shashidhar Jagdishan starting October 27.
Dainik Bhaskar·
PoliticsFormer US intelligence officer David Grusch described the panic within Washington's security agencies following India's successful Mission Shakti in March 2019, where India destroyed a live satellite in Low Earth Orbit using an anti-satellite missile. Grusch recalled frantic calls to the American embassy in New Delhi to assess if the test signaled a wider conflict or a strategic milestone, highlighting the surprise and chaos caused by the demonstration of India's military space capabilities.
News18··New Delhi
BusinessIndia's Commerce Minister Piyush Goyal is negotiating several trade agreements at the G20 meeting. Talks with the US focus on an interim pact and broader agreement issues. Discussions with Canada aim to finalize a Comprehensive Economic Partnership Agreement by 2026. Existing trade deals with the UK and Australia are also being reviewed for implementation and effectiveness.
Economic Times·
BusinessVishal Nirmiti's IPO is 57% subscribed, while Nityas Gems and Jewellery's IPO has a higher subscription rate of 69%. Both IPOs opened on September 30 and will close on October 5. Vishal Nirmiti's IPO GMP is +20, suggesting a potential listing price of ₹240, whereas Nityas Gems' GMP is +4 with an estimated listing price of ₹79.
Mint Markets·
SportsNetra Kumanan secured a bronze medal for India in women's dinghy sailing at the Asian Games. She entered the finals with seven recalculated points from the qualification series, finishing sixth in Final 1 but winning Final 2 to claim third overall. Tied with Hong Kong's Stephanie Norton on 14 net points, Kumanan won the tiebreak due to a better head-to-head record. Vishnu Saravanan finished fourth in men's dinghy with 21 points. South Korea's Ha Ji-min won gold, and Malaysia's Khairulnizam Mohammad Afendy took bronze. India's canoe slalom campaign ended without medals.
Amar Sports·
BusinessKeventer Group and Saroj Poddar Group have launched a Rs 400-crore secured debt fund for real estate projects in Delhi-NCR and West Bengal. The sponsors have committed Rs 80 crore and expect a gross internal rate of return between 18 and 22 percent. The fund aims to support real estate ventures through secured debt financing.
ET Markets·
Dainik Bhaskar·
Anoop Bagchi has been appointed as the new Managing Director and CEO of HDFC Bank. The Reserve Bank of India (RBI) has granted approval for his appointment. HDFC Bank announced this change in a stock exchange filing on October 1. Bagchi will take over the leadership from Shashidhar Jagdishan starting October 27.
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