News

The Indian government has resolved all data room concerns in the IDBI Bank disinvestment process, paving the way for the next stage of the transaction with financial bids expected to be invited soon. This marks a significant step forward in the privatization of IDBI Bank, which is set to be the biggest such move since the Air India sale.

Lando Norris dominated the Abu Dhabi Grand Prix, sealing McLaren's first Constructors' Championship since 1998 despite challenges faced by teammate Oscar Piastri and rival Ferrari. The race also featured strong performances from Ferrari's Leclerc, Mercedes' Hamilton in his farewell drive, and frustrations by Red Bull’s Verstappen.

The Indian government needs to spend approximately Rs 1.3 lakh crore monthly during February and March to meet the revised annual capital expenditure target of Rs 10.18 lakh crore, with current spending at 74.4% of target by January-end. Analysts believe meeting the capex target might be challenging despite achieving the fiscal deficit goal of 4.8% of GDP, citing a need for significant expenditure acceleration.

Former Jharkhand Chief Minister Champai Soren, previously associated with Jharkhand Mukti Morcha, switched allegiance to the BJP shortly after resigning from his party and cabinet post, citing dissatisfaction with current governance. JMM legislator Ramdas Soren was swiftly appointed to fill his vacancy in the state cabinet.

Mukesh Ambani-led Jio Financial Services has acquired SBI's 7.9 crore equity shares in Jio Payments Bank for Rs 104.5 crore, making the payments bank its fully owned subsidiary pending RBI approval. Following the acquisition announcement, Jio Financial Services' shares experienced nearly a 4% increase.