anuprova Editor

The Union Finance Ministry has issued a fresh directive aimed at cost-cutting and sustainability in all state-run financial institutions. It will directly impact employees of large institutions like the State Bank of India (SBI) and the Life Insurance Corporation of India (LIC). The government has asked public sector banks, insurance companies and financial institutions to cut unnecessary expenditure in an effort to rationalise operational costs. The directive’s key measures include placing strict limits on official travel and prioritising virtual meetings over in-person ones where possible. They are also obligated to convert the corporate fleets of such state-run organizations to electric…

Tata Consultancy Services (TCS) CEO and Managing Director K Krithivasan received a salary of Rs 28 crore for the fiscal year 2025-26, which is a 6.3% increase over the previous year, according to the company's latest annual report. His total remuneration for the fiscal year included a salary of Rs 1.67 crore, benefits, perquisites and allowances of Rs 1.43 crore and a handsome performance-linked commission of Rs 25 crore. The annual report noted that the CEO’s total earnings were 332.8 times the median compensation of the tech giant’s workforce. On the other hand, Tata Group and TCS chairman N Chandrasekaran…

Petrol, diesel prices hiked by up to ₹3/litre across India from Friday, May 15, 2026; first major hike in over four years Petrol prices hiked to Rs 97.77 from Rs 94.77 in the national capital, while diesel is now priced at Rs 90.67 per litre. Other major metros saw even higher increases as local taxes kicked in; petrol in Mumbai touched Rs 106.68 and Kolkata’s rates crossed Rs 108.74. The sudden spike follows a long period of price stability, with state-owned oil marketing companies (OMCs) taking huge losses to protect consumers from volatile global markets. The price revision is largely…

The Bombay High Court has given its official nod to withdraw a petition challenging the present composition and some appointments in the Sir Ratan Tata Trust. In a recent hearing, the petitioner, who sought to question the internal governance and the selection process of trustees, withdrew the legal challenge. The court’s decision to allow the withdrawal effectively ends this particular legal battle over one of India’s most prominent philanthropy outfits. The petition had originally raised concerns about whether the trust’s leadership structure was in strict compliance with its governing bylaws. However, when the matter was called for hearing, the counsel…

The State Bank of India (SBI) said in a report recently that the ongoing conflict in West Asia, a major geopolitical worry, has so far not impacted India’s domestic retail inflation significantly. Despite a global backdrop of uncertainty and elevated energy prices, the bank has maintained its Consumer Price Index (CPI) inflation projection for the 2026-27 fiscal at 4.5%. Analysts pointed out that imported inflation, a major component of the consumer basket, has actually slowed down slightly rather than accelerated, with even stable weighted contributions despite volatile exchange rates. The report, however, sounds a note of caution, pointing to some…

Bajaj Healthcare Limited reported a steep decline in its financials for the last quarter of the fiscal year ending March 2026, turning to a standalone net loss of ₹22.85 crore. This is a steep reversal from a profit of Rs 11.17 crore in the same period last year. The company’s operational revenue remained largely flat at ₹153.05 crore, a marginal dip of less than 1% YoY. The bottomline was hit hard by a one-time exceptional item. The main reason for this “dismal” performance was an income reversal of ₹33.2 crore on account of cancellation of a technical know how arrangement…

Lenskart shares had a volatile trading session on Friday and recovered by more than 5% from their intraday lows after a huge block deal of Rs 5,316 crore. The stock initially dropped, down almost 1% in early trading after news broke that a large chunk of equity - more than 6% of the company - was changing hands. The initial selloff was quickly met with strong buying interest at lower levels, suggesting institutional investors saw the large-scale transaction as an attractive entry point rather than a reason for sustained alarm. A block deal was for a large stake to be…