Business

New Delhi: India’s crude oil imports from Russia have taken a sharp hit this month, plunging by nearly 66%, as fresh US sanctions on Moscow’s two biggest oil companies—Rosneft and Lukoil—rattle global supply routes. India, Russia’s largest crude buyer, has scaled back orders amid tightening compliance risks, while China and Turkey have also cut purchases significantly. According to data shared by analytics firm Kpler, India received an average of 672,000 barrels per day of Russian crude between November 1 and 17 — a steep drop from 1.88 million barrels per day in October. Since Russian shipments take nearly a month to reach Indian ports, most of November’s loadings will only arrive in December. Tankers Sailing Without a Set Destination The sanctions deadline of November 21 has pus...

New Delhi: For Adwait Kulkarni, a mechanical engineer from Kolhapur, a simple holiday in 2017 turned into a life-changing entrepreneurial journey. What began as a vacation to Tripura soon became the foundation of a thriving food-processing business that today generates an annual turnover of ₹1.5 crore. The Holiday That Sparked an Idea In 2017, Adwait travelled to Tripura for a break — unaware that the state’s lush, endless pineapple plantations would redirect his life. Fascinated by the large-scale cultivation, unmatched sweetness, and low cost of Tripura’s pineapples, he began visiting repeatedly between 2017 and 2020. He discovered a major gap: massive wastage of the produce due to the lack of processing units and poor logistics. The famed ‘Queen Pineapple’, which received a GI ...

Bengaluru: Infosys, India’s second-largest IT services company, has announced a massive ₹18,000 crore share buyback, the biggest in its history and the fifth buyback since the company went public. Existing shareholders will get the opportunity to sell their shares to the company at a premium price of ₹1,800 per share. Here is a detailed look at the buyback window, process, eligibility, and key dates. Buyback Window Opens on November 20 The buyback will begin on Thursday, 20 November, and will remain open until Wednesday, 26 November. Infosys shareholders had already approved the repurchase of 10 crore equity shares during the meeting held on November 6. Buyback Price and Eligibility Infosys will repurchase shares at ₹1,800 per share, significantly higher than the market...

New Delhi: After a long wait, major private banks such as Axis Bank, HDFC Bank and Kotak Mahindra Bank are now preparing to introduce credit payments through UPI. Until now, banks have been offering RuPay credit cards enabled for UPI, but the next big upgrade—“Credit Line on UPI”—is finally set to roll out. What’s the Current Preparation? According to sources quoted by ET, Axis Bank and HDFC Bank are working with fintech startups to launch this product.Startups like Navi, SuperMoney and SalarySe are in advanced discussions to partner with these banks for offering the UPI-based credit line. All three banks—HDFC, Axis and Kotak Mahindra—declined to comment officially. Why Were Banks Hesitant Earlier? People familiar with the matter said banks wanted clarity on key issues befor...

New Delhi: In a dramatic turn in India’s corporate world, Gautam Adani has emerged victorious in the race to acquire the bankrupt infrastructure giant Jaypee Group’s flagship company, Jaiprakash Associates Ltd. (JAL)—despite submitting a lower bid than Anil Agarwal’s Vedanta. In a unanimous decision, the company’s creditors voted in favour of Adani Enterprises, citing more favourable prepayment and upfront payment terms, even though Vedanta had offered a higher total bid. Vedanta Offered ₹17,000 Crore, Yet Adani Won According to an ET report, Vedanta was the highest bidder in the e-auction held in September, offering ₹17,000 crore.However, sources revealed that creditors preferred Adani Enterprises because the group promised a larger upfront payment, making its proposal financiall...

New Delhi, 18 November 2025: As the cost of education, marriage, and other milestones rises, planning for a child’s financial future has become more important than ever. Experts suggest that starting early with a structured investment plan can help parents accumulate a substantial corpus for their child’s long-term needs. Mutual Funds for ChildrenMany parents prefer to open a separate fund in their child’s name for long-term goals like education or marriage. Contributions often begin with small amounts received on birthdays or special occasions and are supplemented with regular deposits over time. One of the reliable options in this space is the ICICI Prudential Children Fund, an open-ended plan designed specifically for children. The fund has a proven track record of delivering consist...

New Delhi, 18 November 2025: According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), Uttar Pradesh remains the top state for two- and three-wheeler sales, while Maharashtra continues to lead in car and commercial vehicle purchases. Passenger Vehicle SalesIn the second quarter of the financial year 2025-26, India recorded a total of 10.39 lakh passenger vehicles sold. Maharashtra emerged as the leader with 1.32 lakh cars sold, accounting for 12.7% of total sales. Uttar Pradesh ranked second with a 9.7% share, followed by Gujarat (8.5%), Karnataka (7.4%), Kerala (6.7%), and Tamil Nadu (6.6%). Two-Wheeler Sales Dominate in UPTwo-wheeler sales totaled 55.62 lakh units nationwide during the quarter. Uttar Pradesh led the segment with 6.93 lakh units sold, ...

New Delhi, 18 November 2025: Infosys founder N.R. Narayana Murthy has once again stirred controversy by suggesting a 72-hour work week for employees, citing China’s infamous “9-9-6” work culture as an example. His remarks have sparked a heated debate on social media, with many questioning the feasibility of such long hours in India. Murthy’s ArgumentMurthy emphasized that hard work is essential for personal, professional, and national growth. Citing his observations from Chinese Tier 1, 2, and 3 cities, he explained that the “9-9-6 rule”—working from 9 AM to 9 PM, six days a week—has been a driver of China’s economic progress. He also referenced Prime Minister Narendra Modi, who reportedly works over 100 hours per week, as an example of dedication. Murthy believes that a strong work eth...

New Delhi:Under the GST 2.0 framework, the government has abolished the 18% Goods and Services Tax (GST) on all personal life and health insurance premiums. The reform, effective from 22 September 2025, aims to make insurance more affordable and accessible for the public—particularly first-time buyers and middle-class families. However, a new survey indicates that many consumers are not receiving the intended benefit. Several policyholders reported that they were still charged GST while purchasing or renewing their policies. 18% GST Still Applicable on Group Insurance While personal policies are now exempt from GST, group insurance schemes—such as employer-provided health coverage—continue to attract the 18% tax.The GST exemption is specifically designed to encourage wider adoptio...

New Delhi:India’s booming pet food industry is gearing up for a major shake-up as Reliance Industries, led by Asia’s richest businessman Mukesh Ambani, prepares to aggressively enter the market. The company’s consumer arm, Reliance Consumer Products Ltd (RCPL), is planning to sell its pet food brand Waggies at prices 20–50% lower than established players such as Nestlé, Mars, Godrej Consumer Products and Emami. According to an ET report, Reliance has communicated this pricing strategy to its distributors and trade partners, signalling an approach similar to the one it used to disrupt India’s cola market. Reliance Targets Mass Market, Smaller Cities A senior official familiar with the development said that Reliance’s pet food range will be pushed deeply into general retail stores, ...