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Kotak Mahindra Bank has signed a definitive agreement to acquire Deutsche Bank’s retail banking, affluent private banking and wealth management business in India, marking one of the significant consolidation moves in the country's banking sector. The transaction, announced on Tuesday, is aimed at strengthening Kotak’s presence in the affluent and small and medium enterprise (SME) segments while expanding its customer base and wealth management footprint. The business being acquired includes loans worth around Rs 29,000 crore, deposits of approximately Rs 16,000 crore and assets under management valued at Rs 10,500 crore. It serves nearly 1.5 lakh customers through a workforce…

Jio BlackRock Asset Management is preparing to launch two global investment funds within the next two months, aiming to tap growing demand among Indian investors for international diversification as domestic equity markets remain range-bound. The initiative is part of the joint venture’s broader expansion strategy, which includes building a presence across all mutual fund categories over the next three years and strengthening its distribution network beyond its current direct-to-investor model. The joint venture between Jio Financial Services and BlackRock has already secured its GIFT City licence and shortlisted around 10 global investment products from BlackRock’s international portfolio after discussions with…

A proposal to retain the Employees' Provident Fund (EPF) contribution cap at Rs 1,800 per month has sparked discussions over its potential impact on employees' take-home salaries and long-term retirement savings. Under the existing framework, the statutory EPF contribution is calculated as 12% of the prescribed wage ceiling, resulting in a maximum mandatory contribution of Rs 1,800 each from both the employee and the employer. For employees whose salaries exceed the wage ceiling, employers are generally required to contribute only up to this limit unless they voluntarily agree to contribute on the higher actual salary. As a result, many workers…

The Adani Group and Abu Dhabi-based International Holding Company (IHC) are reportedly planning to establish a $11.5 billion aluminium manufacturing venture, marking one of the largest proposed investments in India's metals sector. The project is expected to strengthen India's aluminium production capacity while supporting the country's ambition to become a global manufacturing hub. According to reports, the proposed venture will focus on building an integrated aluminium business encompassing key stages of the value chain, from raw material processing to the production of value-added aluminium products. The investment is expected to cater to rising domestic demand from infrastructure, construction, renewable energy,…

TVS Motor Company has reported a phenomenal performance for June 2026, with total monthly sales skyrocketing by 47 percent year-on-year to hit 590,003 units. This massive surge from the 402,001 units recorded in June last year highlights robust demand across both domestic and international markets. The growth was comprehensively driven by the two-wheeler segment, which climbed 47 percent to touch 565,417 units, including a 53 percent jump in scooter sales and a 42 percent rise in motorcycle shipments. The undisputed highlight of the month was TVS Motor’s electric vehicle division. The company's electric two-wheeler sales more than tripled, exploding to…

Tata AIA Life Insurance has launched two new cancer-focused insurance solutions—Sampoorna Care - Cancer and Sampoorna Care - Cancer Fund—aimed at addressing not only treatment costs but also the financial impact of income disruption following a cancer diagnosis. The insurer said the products offer flexible payout options, including regular monthly income, lump-sum benefits or a combination of both, with coverage of up to ₹50 lakh. The plans also introduce a savings-linked health fund that allows tax-free withdrawals for health-related expenses and includes an additional accidental total and permanent disability benefit. The launch comes amid growing concern over the financial burden…

Polycab India Limited has expanded its distribution infrastructure in Eastern Uttar Pradesh with the launch of a new Quick Service Depot (QSD) in Gorakhpur, aiming to strengthen its supply chain and improve delivery efficiency across the region. The company said the move is part of its strategy to enhance customer service, reduce delivery timelines and deepen market reach in one of its key growth markets. The newly inaugurated depot spans 10,300 sq. ft. and will distribute Polycab’s range of products, including wires and cables, lighting solutions, fans, switches, switchgear and other fast-moving electrical goods (FMEG). The facility is expected to…