Author: Finance Khabar

Finance Desk – Capgemini, the French IT services giant, has announced it will acquire WNS, a business transformation firm, for $3.3 billion (excluding debt). The move is aimed at strengthening Capgemini’s generative AI and agentic AI capabilities. The deal values WNS at $76.50 per share, which is about 17% higher than its last closing price. Why This Deal Matters Capgemini’s CEO Aiman Ezzat said this acquisition will help the company become a leader in Intelligent Operations — using AI to automate and improve business processes. The company expects the deal to: Increase its earnings by 4% in 2026 (before synergies)…

Finance Desk – In a story that sounds like a plot from a tech drama, Soham Parekh, a software engineer from India, shocked Silicon Valley by secretly working full-time for dozens of US startups—at the same time. It all came to light when Suhail Doshi, founder of Mixpanel, shared on social media that he had to fire Parekh within a week after finding out he was also working for other companies. Soon, more startup founders spoke up with similar experiences. What Exactly Did He Do? Reports suggest that Parekh was juggling up to 34 different jobs with various startups, including…

Finance Desk – The Indian rupee is expected to open weaker today (Friday) after strong job data from the United States gave a big boost to the US dollar and pushed up Treasury yields. The 1-month forward rate suggests the rupee could open in the ₹85.46 to ₹85.50 range, compared to ₹85.31 in the previous session. Why the Rupee May Fall A Mumbai-based currency dealer said, “The ₹85.30 level is acting like a floor for the USD/INR pair, and the strong US jobs data makes it unlikely for the rupee to rise above that anytime soon.” On Thursday, US jobs…

Finance Desk – In a major blow to businessman Anil D. Ambani, the State Bank of India (SBI) has officially declared the loan account of Reliance Communications Ltd. (RCom) as fraudulent. SBI has also reported Mr. Ambani, the former director of RCom, to the Reserve Bank of India (RBI) for further action. This step was taken after a forensic audit and months of back-and-forth involving show-cause notices and replies between the bank and the company. SBI informed RCom through a letter that its Fraud Identification Committee (FIC) had found serious irregularities, such as: SBI has now asked the RBI to…

Finance Desk – Starting 1 July 2025, some big changes are being made to credit card rules by major banks like SBI Card, HDFC Bank, and American Express. These changes mainly affect fees, reward points, and insurance benefits. Here’s a simple breakdown of what’s changing and how it may affect you: SBI Card Changes (Effective from 15 July 2025) Minimum Amount Due (MAD) Formula Updated The new MAD will include: 100% of GST100% of EMI100% of fees/charges100% of finance chargesOverlimit amount (if any)2% of the remaining balance Order of Payment Settlement Revised Your payments will be adjusted in this order:…

Finance Desk – The Indian stock market had a strong start on Tuesday, but due to news about Iran breaking the ceasefire, the gains didn’t last long. By the end of the day, the market was almost flat. Here’s how the major indices closed: Top gainers included Adani Ports, JIOFIN, and Shriram Finance, while ONGC, Power Grid, and IndusInd Bank were among the losers. Trading activity was high — with 23% more volume on the NSE compared to the previous day. What Vaishali Parekh Says: Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said that the market is…

Finance Desk – Welcome to the world of Indian mutual funds — where your great-grandfather’s paper units are still lost in a cupboard somewhere, and unclaimed assets are chilling to the tune of ₹1.3 lakh crore. Enter blockchain, the tech superhero we keep hyping but rarely let out of the lab. So, the big question: Can blockchain revolutionise mutual fund ownership in India? Short answer: Yes. Long answer: Yes, but only if we stop being scared of technology and paperwork ghosts. Tokenization: Bye-Bye, Paper Drama Imagine if mutual fund units were digital tokens you held in your digital wallet. No…

Finance Desk – In a move that might finally give your wallet a breather, LIC Housing Finance has decided to play nice and cut home loan interest rates by 50 basis points. Starting June 19, 2025, new home loan customers can enjoy rates from 7.50% – just in time for the company’s 36th Foundation Day. Because what better gift than slightly cheaper debt, right? LIC HFL CEO Tribhuwan Adhikari said the rate cut is part of their mission to make home ownership more accessible. He added they’re aligning with the RBI’s policy direction, which is basically banker-speak for “RBI cut…

Finance Desk – In a move that’s got finance bros and tech geeks nodding in sync, Jio BlackRock Mutual Fund has officially launched Aladdin – no, not the guy with a lamp, but BlackRock’s high-tech investment and risk management platform. This comes right after the mutual fund got its official SEBI nod in May 2025. Now they’re ready to sprinkle some serious digital magic on the Indian investment scene. So, what’s Aladdin? It’s BlackRock’s superbrain – a global tool that analyzes investments, manages risks, and probably knows what the market’s going to eat for lunch. And for the first time,…

Finance Desk – If your money is chilling in a savings account or a fixed deposit with SBI, here’s a gentle (and slightly painful) wake-up call: interest rates are going down—again. Starting June 15, SBI is trimming rates on both savings accounts and fixed deposits (FDs). What’s Happening? SBI has cut savings account interest rates by up to 50 basis points across the board. Fixed deposits under ₹3 crore also got a haircut—25 bps lower depending on the maturity. Why? Well, the RBI cut the repo rate by 50 bps last week, so SBI and other banks are just following…

Finance Desk – According to a report by The Times of India, Air India had increased the insurance cover on its Boeing 787-8 Dreamliner aircraft from ₹750 crore to ₹850 crore in April 2025—just two months before it crashed near Ahmedabad on June 12, killing around 270 people. Insurance and Expected Claims The total claims from the crash are expected to cross ₹1,500 crore. A group of Indian insurers led by Tata AIG will reportedly absorb only ₹100–150 crore of the losses. Over 90% of the risk was passed on to global reinsurers in London and other international markets. The…

Finance Desk – With rising household debt and increasing defaults in the retail segment, missing a personal loan EMI is a serious issue. The Reserve Bank of India (RBI) has urged borrowers to be careful and follow responsible borrowing habits. Here are 5 major consequences of missing your personal loan EMI: A poor credit score makes borrowing in the future more difficult. Once your loan is tagged as NPA: Take legal action under the Negotiable Instruments Act, 1881 With personal loan defaults still high, especially at private banks, it’s even more important to pay EMIs on time.

Finance Desk – Paytm’s stock (One 97 Communications) fell sharply by 10% to ₹864.20 on Thursday during intraday trading on the BSE. This drop came after the Finance Ministry denied reports that merchant discount rates (MDR) would be charged on UPI transactions. This is Paytm’s biggest single-day fall in the last 16 months. The last major fall was on February 2, 2024, when the stock fell 20% in one session. At 9:32 AM, Paytm was trading 9% lower at ₹872.20, while the BSE Sensex was up by 0.16%. In just the first 17 minutes of trading, 7.35 million shares were…

Modi Nagar, June 9, 2025: Union Minister of Parliamentary Affairs and Minority Affairs, Shri Kiren Rijiju, on Saturday inaugurated the residential wing of the Weightlifting Warriors Academy — the centre where Olympic Silver Medalist Mirabai Chanu trains — marking a significant milestone in India’s Olympic preparations for 2036. The state-of-the-art facility, established by Chief National Coach Shri Vijay Sharma in September 2024, will now provide accommodation for up to 60 athletes in 30 fully equipped rooms. Currently, 40 young athletes aged 8-14 years and 15 elite athletes are also training at the academy. Speaking at the inauguration, Union Minister of…

Finance Desk – In a big step towards promoting financial inclusion and customer-friendly banking, Canara Bank has announced the removal of Average Monthly Balance (AMB) charges for all types of savings bank accounts, effective June 1, 2025. What’s New? No Minimum Balance Requirement Customers can now maintain zero balance in their savings accounts without any penalty. Applies to All Savings Accounts The waiver is applicable for: Regular Savings Accounts Salary Accounts NRI Savings Accounts First Among PSU Banks Canara Bank becomes the first major public sector bank to introduce this true zero balance facility across account categories. Why This Matters…

Detects and blocks malicious websites across all communications platforms including email, OTTs and SMSes in real time Meerut, May 15, 2025: In continuation of its fight against spam, Airtel today unveiled a new cutting-edge solution that will detect and block malicious websites across all communication Over-The-Top (OTT) apps and platforms including emails, browsers, OTTs like WhatsApp, Telegram, Facebook, Instagram, SMSes etc., in real time. This safe service will be seamlessly integrated with, and auto- enabled for, all Airtel mobile and broadband customers at no additional cost. When a customer tries to access a website flagged as malicious by Airtel’s advanced security…

Finance Desk – In a significant judgment, the Lucknow bench of the Allahabad High Court has ruled that being a nominee on an insurance policy does not give ownership rights over the insurance money. The court clarified that the nominee is merely a custodian, and the actual rights over the money lie with the legal heirs, as per succession laws. Background of the Case Petitioner: Kusum, a resident of Unnao, Uttar Pradesh Subject: Dispute over life insurance proceeds of her late daughter, Ranjeeta Details: Kusum had taken 15 life insurance policies in her daughter’s name before she got married. Ranjeeta…

Finance Desk – In a move aimed at attracting new borrowers and rewarding creditworthy customers, Bank of Baroda has slashed home loan interest rates, now offering loans starting at 8% per annum for amounts ₹15 lakh and above. This reduction applies to both fresh home loans and home improvement loans, making it a timely opportunity for potential homeowners. Key Highlights of the New Rates: Interest rate range for salaried individuals: 8% – 9.50% p.a. Interest rate for non-salaried individuals: 8% – 9.60% p.a. Loan types covered: Baroda Home Loans and Home Improvement Loans Linked to credit profile: Better credit score…

Finance Desk – As of March 2025, mutual funds in India are holding the highest level of cash in 15 years. This cautious move by fund managers signals a shift in strategy, as they choose to hold on to cash rather than invest aggressively in a market trading near all-time highs. Why Are Fund Managers Holding Cash? According to a report by Elara Securities, cash levels across active mutual fund schemes have sharply risen, a pattern last seen during the market phases of 2011 and 2018. Experts believe this is not due to a lack of money, but rather a…

Finance Desk – UPI (Unified Payments Interface) is now India’s most popular way to make digital payments. Earlier, it could only be linked with savings or current accounts. But now, the Reserve Bank of India (RBI) has allowed users to link their credit cards to UPI—starting with RuPay credit cards. This change brings together the ease of UPI with the power of credit cards, offering more flexibility and rewards to users. Use Credit with UPI’s Simplicity When you link your RuPay credit card with a UPI app (like PhonePe, Paytm, Google Pay, or BHIM), you can make payments just by…