Flipkart cofounder Binny Bansal has donated Rs 70 crore to establish the Binny Bansal Institute for Inventing the Future (IIF) at Plaksha University. The institute aims to tackle global challenges through AI, blockchain, and robotics. Plaksha University, supported by various donors, focuses on cross-disciplinary learning and partnerships to drive tech education and convert research into real-world applications.
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Budget 2025 proposes a block assessment mechanism for transfer pricing to reduce compliance burdens. The new approach allows predetermined Arm's Length Price to apply for two additional years, though experts highlight the need for clarity on implementation and potential issues for taxpayers.
Kristalina Georgieva, IMF managing director, predicts India's economy will be slightly weaker in 2025 due to global uncertainties, including US trade policies. While the US performs better, the EU stalls, and China faces deflationary pressures, India's GDP growth in 2024-25 is expected to slow to 6.4% amid manufacturing moderation, sluggish investment, and geopolitical tensions.
ICICI Securities resolved alleged stock brokers rules violations by paying Rs 80.4 lakh to the markets regulator Sebi. The settlement followed an inspection that revealed non-compliances related to margin trading facility and other issues. A technical glitch was also reported and corrected as part of the settlement terms.
L&T chairman SN Subrahmanyan, facing backlash for supporting a 90-hour work week, received Rs 51 crore in compensation last year. His comments about working Sundays have drawn widespread criticism, including from actress Deepika Padukone.
UCO Bank reported a 27.1% rise in Q3 net profit to Rs 638.83 crore, along with a 15.5% increase in total income at Rs 7,405.89 crore. For the nine months ending December 2024, net profit surged 58.9%, while gross NPA ratio improved to 2.91%.
Private equity-venture capital investments increased by 10% in the January-March 2025 period, reaching $7.9 billion. Notable deals included Bain Capital's Rs 4,390 crore investment in Manappuram Finance, Actis' $163 million investment in Stride Climate Investments, and Darwinbox's $140 million raise led by Partners Group and KKR.
The Trump administration's policies are causing concerns among F-1 student visa holders, H-1B visa holders, and green card holders. Many are hesitant to travel outside the US due to potential re-entry issues.
A rebound in stocks was driven by significant gains in technology giants Tesla and Nvidia, helping the 'Magnificent Seven' megacaps rise over 1%. Despite a weak US consumer confidence report causing a brief dip, experts forecast a likely Santa Claus rally this year. Thin trading marked the holiday-shortened week's start, with volumes down by around 20%.
Bajaj group will take over Allianz's 26% stakes in their insurance ventures for Rs 24,180 crore, making both insurers entirely Indian-owned. Bajaj Finserv’s stake will rise to over 75% in both firms. This acquisition ends a 24-year partnership with Allianz, allowing both to pursue independent insurance strategies in India, enhancing shareholder value.
The Finance Act, 2020 introduced a more complex tax residency determination for NRIs and PIOs, reducing the stay threshold from 182 to 120 days based on India-sourced income. Experts argue it complicates compliance without significant revenue benefits, potentially deterring economic activity and investment in India.