New Delhi: Private lender IndusInd Bank, promoted by the Hinduja Group, may be heading into deeper trouble. The Ministry of Corporate Affairs (MCA) has directed the Serious Fraud Investigation Office (SFIO) to probe the bank’s financial irregularities. This move comes as the Mumbai Police were reportedly planning to close their preliminary investigation due to a lack of evidence of fund diversion or embezzlement. Government Orders InvestigationThe SFIO investigation follows concerns raised by the bank’s statutory auditors and forensic reports highlighting serious accounting discrepancies. The government’s order references multiple ADT-4 forms filed under Section 143(12) of the Companies Act, 2013 by the bank’s auditors. Notably, an ADT-4 filed on 12 May 2025 flagged accounting inconsist...

New Delhi: The latest list of India’s self-made entrepreneurs has seen major shifts this year. Deepinder Goyal, founder of Zomato, has overtaken Radhakishan Damani of D-Mart to claim the top spot, while IndiGo’s founders, Rahul Bhatia and Rakesh Gangwal, have entered the top 10 for the first time. The list was released by Hurun India. Zomato’s Rise to Number OneDeepinder Goyal, CEO of Zomato’s parent company Eternal, leads the Hurun India Top 200 Self-Made Entrepreneurs of the Millennium 2025 list. Eternal’s valuation has increased by 27% to ₹3.2 lakh crore, whereas Avenue Supermarkets (D-Mart) has seen a 13% decline to ₹3 lakh crore. IndiGo Founders Make First Appearance in Top 10Rahul Bhatia and Rakesh Gangwal, founders of IndiGo, make their debut in the top 10 with the airline val...

New Delhi: The Securities and Exchange Board of India (SEBI) has approved major changes to the rules governing mutual funds, aiming to reduce investor costs and increase transparency. The overhaul, part of SEBI’s “clean-up drive,” has reduced the regulatory book from 162 pages to 88 pages, simplifying compliance for fund houses. Key Changes in Expense Ratio and ChargesSEBI has revised the expense ratio framework and brokerage limits for mutual funds. Tuhin Kant Pandey, SEBI Chairman, stated that government taxes like STT (Securities Transaction Tax), GST, CTT, and stamp duty will now be excluded from the expense ratio and treated as a separate Base Expense Ratio. Previously, only GST on management fees was excluded, while other taxes counted toward the limit. This separation ensures cle...

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has introduced significant changes to the National Pension System (NPS) to make it more attractive and flexible for subscribers. The maximum age for staying invested in NPS has been increased from 75 to 85 years, and a loan facility against NPS accounts has also been introduced. Here’s a detailed look at the new rules. Stay Invested Until 85Subscribers can now continue in the NPS scheme up to the age of 85, allowing them to grow their retirement corpus for a longer period. Lower Annuity RequirementPreviously, retirees with a corpus exceeding ₹5 lakh had to use at least 40% of their funds to buy an annuity. The new rules reduce this limit to just 20%, giving subscribers more flexibility and immediate cash access....

New Delhi: Satish Sanpal’s journey is nothing short of cinematic. Hailing from the narrow lanes of Jabalpur in Madhya Pradesh, he has risen to become the owner of a massive ₹8,000 crore business empire, residing in Dubai’s iconic Burj Khalifa. Remarkably, he achieved all this despite completing only up to the 8th grade. Early Struggles: At just 15, Satish started a small grocery store with ₹50,000 provided by his mother. Despite investing nearly ₹80,000 in total, the venture failed within two years. Far from being disheartened, this early setback taught him valuable lessons about resilience and ambition. By the age of 20, Satish took a bold step, moving to Dubai in search of greater opportunities. Foundation of ANAX Holdings: In Dubai, Satish worked tirelessly, initially connec...

Mumbai: Dalal Street witnessed a soft session on Wednesday as both major indices ended lower amid continuous selling pressure from foreign investors. The BSE Sensex fell 120.21 points, closing at 84,559.65, while the NSE Nifty dropped 41.55 points to finish at 25,818.55—its lowest level in a week. Market Snapshot:During trading, the Sensex touched a low of 84,415.98, down 263.88 points at one stage. Among Sensex constituents, Trent saw the steepest fall of 1.61%, followed by HDFC Bank, Adani Ports, ICICI Bank, Bajaj Finserv, Bharat Electronics, Titan, and Asian Paints. On the upside, State Bank of India rose 1.51%, while Infosys, Axis Bank, and Maruti Suzuki also gained. Stocks Showing Buying Interest:Investors are showing strong buying interest in several stocks, including India Cem...

American President Donald Trump’s real estate empire is rapidly expanding in India, turning the country into one of its largest markets outside the United States. Partnering with prominent Indian developers, the Trump Organization is set to launch several new projects in the coming years, making India a key hub for its global business strategy. Trump’s India Investment Known for his unpredictable statements, Trump recently called India “a remarkable country” and Prime Minister Narendra Modi “a great friend.” The remarks come amid ongoing diplomatic negotiations and trade discussions between the two countries. While tariff disputes have kept tensions high, Trump’s real estate investments in India tell a different story—one of growth and opportunity. For the Trump Organization, Indi...