Business - The Purbottar

28 Jul

India Moves Towards Polymer Currency as RBI Plans New Banknote Trials

nanika EditorBanking, Business

The Reserve Bank of India (RBI) has received approval from the government to issue 1 billion pieces each of ₹10 and ₹20 polymer banknotes for field trials, Minister of State for Finance Pankaj Chaudhary informed Parliament on Monday. The proposal, submitted by the RBI’s Central Board under Section 25 of the Reserve Bank of India Act, 1934, aims to evaluate the performance of polymer banknotes before their regular issuance in these denominations. The government has approved the proposal, and wider circulation will begin after successful completion of the trials. The minister clarified that polymer banknotes will be issued alongside existing…

28 Jul

Global Crude Prices Plummet as Potential U.S.-Iran Diplomatic Breakthrough Eases Supply Fears

anuprova EditorBusiness

Global crude oil prices extended their sharp decline, with Brent crude dropping toward $87 a barrel after tumbling over 9% in recent sessions, as emerging diplomatic talks between the United States and Iran signaled a potential off-ramp to escalating Middle East tensions. The market selloff followed a temporary suspension of U.S. airstrikes and a corresponding pause in Iranian retaliatory attacks, relieving immediate fears of severe, long-term disruptions to Persian Gulf energy infrastructure. Sentiment improved significantly after U.S. President Donald Trump indicated that Washington and Tehran were engaged in active discussions aimed at resolving the conflict. However, market analysts caution that…

27 Jul

Heatwaves may pose greater pregnancy risks in Northeast hill states, study finds

Business BureauBusiness

A nationwide study has found that prolonged exposure to extreme heat during pregnancy significantly increases the risk of adverse birth outcomes, with women in India's mountainous regions—including Northeastern states such as Meghalaya, Nagaland and parts of Assam—emerging among the most vulnerable despite traditionally cooler climates. Published in the peer-reviewed journal Environmental Research Communications, the study analysed 209,266 births recorded across India between 2015 and 2020. Researchers matched each pregnancy with local heat conditions using the India Heat Index, measuring consecutive "sweltering" days rather than average temperatures. The findings showed that every additional consecutive day of extreme heat during pregnancy increased…

27 Jul

Sustained heat during pregnancy linked to higher newborn health risks in West Bengal: Study

Business BureauBusiness

Prolonged exposure to extreme heat during pregnancy significantly increases the risk of adverse birth outcomes, with women in West Bengal's humid subtropical regions facing a heightened threat of delivering low-birth-weight babies, according to a first-of-its-kind population-scale study conducted across India. The research also found that rural, less-educated and socially vulnerable mothers are the most affected, underscoring the need to prioritise pregnant women in India's heat action plans. The study, Effect of extreme heat stress on adverse pregnancy outcomes in India, analysed 209,266 births recorded between 2015 and 2020 by matching each pregnancy with local heat exposure. Researchers measured consecutive "sweltering"…

27 Jul

Kotak Mahindra Bank posts 26% rise in Q1 profit on lower provisions and steady loan growth

Business BureauBusiness

Kotak Mahindra Bank reported a 26% year-on-year increase in standalone net profit to ₹4,123 crore for the first quarter of FY27, supported by lower credit provisions, healthy loan growth and higher fee income. The bank's consolidated net profit rose 23% to ₹5,480 crore during the April-June quarter, according to its unaudited financial results approved by the board on July 18. Net interest income (NII) grew 9% year-on-year to ₹7,928 crore, while operating profit increased 10% to ₹6,131 crore. Fee and services income rose 11% to ₹2,500 crore. Provisions declined sharply by 45% to ₹668 crore, helping improve profitability despite a…

27 Jul

ABD Maestro launches three super-premium whiskies in Telangana

Business BureauBusiness

ABD Maestro Pvt. Ltd., the super-premium and luxury spirits subsidiary of Allied Blenders & Distillers Limited (ABD), has entered the Telangana market with the launch of three award-winning whisky brands — AODH Irish Whiskey, WOODBURNS Contemporary Rare Indian Whisky and YELLO Designer Whisky. The company, co-founded by Bollywood actor Ranveer Singh, unveiled the products at a launch event in Hyderabad on Monday. The launch marks ABD Maestro's expansion into Telangana's growing premium spirits segment, with the company targeting consumers seeking high-quality and craft-driven alcoholic beverages. The three whiskies are now available at leading retail outlets in Hyderabad and will also…

27 Jul

Veda Rehabilitation launches luxury mental health recovery retreat in Sikkim

Business BureauBusiness

Veda Rehabilitation & Wellness has expanded its presence in India with the launch of a luxury mental health, addiction recovery and holistic wellness retreat in Sikkim, marking its fourth centre after Mumbai, Delhi and Bengaluru. Nestled in the Rumtek Hills, the new facility is designed to support individuals dealing with addiction, burnout, behavioural addictions and other mental health concerns through an immersive recovery programme that combines evidence-based clinical care with nature and holistic wellness practices. The launch comes at a time when awareness of mental health and substance dependence is increasing across India, prompting more individuals and families to seek…

27 Jul

Chinese Chipmaker CXMT Surges Over 500% in Blockbuster Market Debut to Become Mainland China’s Most Valuable Listed Firm

anuprova EditorBusiness

Shares of Chinese memory chip giant ChangXin Memory Technologies (CXMT) skyrocketed more than 500% during their Shanghai stock market debut, propelling the semiconductor manufacturer to become the most valuable publicly listed company in mainland China. The explosive market entry followed Asia's largest initial public offering of the year, raising $8.6 billion as investor demand overwhelmed available shares. CXMT’s dramatic surge pushed its market capitalization past 3.6 trillion yuan ($539 billion), briefly eclipsing major state-backed banking titans like the Industrial and Commercial Bank of China. The dynamic random-access memory (DRAM) producer has drawn widespread international attention amid reports that tech giant…

27 Jul

UltraTech Cement Taps Bond Market for ₹5,000 Crore Fundraising Plan

nanika EditorBusiness

UltraTech Cement, India’s largest cement producer by capacity, is planning to raise ₹5,000 crore through rupee-denominated bonds, which could become the company’s biggest bond fundraising exercise in the domestic debt market. According to banking sources, the company is in discussions with merchant bankers and arrangers to tap the bond market ahead of the Reserve Bank of India’s upcoming policy decision. The proposed fundraising is expected to be used to strengthen the company’s financial position and support its business requirements. The planned bond issue will be divided into three maturity periods — two-and-a-half years, three-and-a-half years, and five years. UltraTech Cement…

27 Jul

Getting in first becomes the new status symbol as premium experiences reshape affluent spending: Kotak

Business BureauBusiness

As more Indians gain the financial ability to spend on premium experiences, the real marker of privilege is shifting from affordability to assured access, according to Kotak Mahindra Bank. The bank said rising demand for concerts, exclusive dining experiences and cultural events is outpacing availability, making certainty of participation a key differentiator for affluent consumers. Traditionally, premium credit cards signalled exclusivity through benefits such as airport lounge access, concierge services, golf privileges and reward points. However, Kotak said these features are gradually losing their distinctiveness as they become more widely available. Instead, consumers are increasingly valuing experiences that are exclusive,…