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BusinessPhoto: Business Standard

Finance Ministry Cites 2003 Law, Delhi HC on IDBI Bank Sale to Fairfax

The Finance Ministry stated that the IDBI (Repeal) Act, 2003, a Delhi High Court judgment, and Union Budget speeches show the policy evolution on IDBI Bank's strategic disinvestment. The Cabinet approved selling 60.72% stake to Fairfax Financial Holdings for about ₹53,000 crore, marking India's largest foreign financial sector investment and a key banking privatization milestone. The Delhi HC ruled in 2018 that the 2003 Act does not prohibit reducing government stake in IDBI Bank.

Business Standard·

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BusinessPhoto: News18 Hindi

IIM Lucknow Summer Placement Report Shows 16.5% Rise in Average Package

IIM Lucknow released its Summer Placement Report 2025-26 for the PGP batch, recording a 16.5% increase in the average package. The highest stipend offered was Rs 3.95 lakh per month, with an average stipend of Rs 1.67 lakh per month. Consulting and IT sectors received the most offers during this placement season.

News18 Hindi··Lucknow

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BusinessPhoto: News18Hi Business

Global Funds Eager to Invest in Jio IPO, Demand Rs 2.5 Lakh Crore

Major global institutional investors, including GIC, BlackRock, and ADIA, are eager to invest in India's largest IPO, Jio. The demand from these investors has already reached around Rs 2.5 lakh crore. Several prominent family offices are also expected to participate in this IPO, reflecting strong interest from diverse financial entities worldwide.

News18Hi Business·

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BusinessPhoto: Amar Business

HDFC Bank Q2 Profit Rises to ₹19,510 Crore; Axis Bank Reports 38% Profit Growth

HDFC Bank and Axis Bank, two major private lenders in India, released their Q2 FY27 financial results. HDFC Bank's net profit rose 4.6% year-on-year to ₹19,510 crore, with net interest income increasing 9.7% to ₹34,620 crore. The bank's net interest margin stood at 3.16% on total assets. Asset quality remained stable with a slight decline in NPAs. Axis Bank reported a strong 38% increase in net profit.

Amar Business·

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EntertainmentPhoto: TOI Entertainment

Anil Ravipudi Announces Keerthy Suresh's Role in January 12 Vidudala

Director Anil Ravipudi revealed that Keerthy Suresh will play Latha Reddy in the film 'January 12 Vidudala'. The movie stars Venkatesh and Nandamuri Kalyan Ram in lead roles, with Krithi Shetty also featured. Filming began recently in Ooty, Tamil Nadu, after earlier shoots in Mysuru. Venkatesh's first look was released to mark his 40 years in the film industry.

TOI Entertainment··Ooty

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EntertainmentPhoto: NDTV Movies

Veteran Tamil Composer Deva Dies at 75; Rajinikanth Pays Tribute

Deva, a veteran Tamil music composer known for his work in over 400 South Indian films across nearly four decades, has died at age 75. He was celebrated for popularizing Chennai's unique gaana music style in mainstream cinema. Actor Rajinikanth paid his last respects to the legendary composer, honoring his significant musical legacy.

NDTV Movies··Chennai

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