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PSBs integrate ESG parameters into companies' credit risk assessment
Public sector banks are incorporating environment, social, and governance parameters into their credit risk assessment processes. Seven banks, including the State Bank of India, lead this initiative to enhance credit appraisal. They are developing climate risk frameworks for credit workflows and adopting standardized emission calculation methodologies. The EASE 9.0 Reform Agenda monitors these developments to modernize state-run lenders.
AI Can Measure How ESG Really Impacts the Bottom Line
Advances in large language models are making rigorous sustainability analysis dramatically faster and cheaper, allowing investors and other stakeholders to connect companies’ disclosed environmental and social risks directly to financialperformance in a matter of hours rather than weeks. Applying a simple methodology to ExxonMobil, the authors used AI to map sustainability-related issues to specific financial statement line items and estimate their impact on earnings and value, demonstrating both the promise and the limitations of AI-assisted analysis. As these capabilities become widely accessible, the competitive advantage long held by ESG ratings agencies, standard setters, and sustainable fund managers may erode, shifting attention from proprietary scores toward transparent assumptions and financial consequences. Human judgment remains essential to validate AI-generated outputs, but the broader trend is clear: sustainability analysis is becoming more democratized, financially grounded, and adaptable, with significant implications for how investors, regulators, and other institutions assess corporate performance and value creation.
India may reimpose broken rice export restrictions as prices cross $360 per tonne: IREF
India may reimpose restrictions on exports of 100% broken rice as international prices cross $360 per tonne and domestic demand from ethanol manufacturers and poultry-feed producers increases, the Indian Rice Exporters' Federation (IREF) has warned. No fresh curbs have been announced so far.
Finance Minister Sitharaman urges Tata to resolve feud amicably, rules out govt intervention
Finance Minister Nirmala Sitharaman emphasized the importance of resolving the ongoing dispute between Tata Sons and Tata Trusts. She stated that the matter should remain private to restore normalcy quickly. Sitharaman highlighted the critical nature of this situation for the Indian economy, particularly amidst foreign capital outflows. Concerns regarding the equity market and foreign investments were also acknowledged by the finance minister.
Pixxel's Indian ownership comes under scrutiny
Pixxel founder and chief executive Awais Ahmed in a blog post on X said the company remains “headquartered, owned, managed and controlled in India,” on Monday. Indian investors, including the founders, collectively hold the largest shareholding in the company, followed by investors from Singapore, the UK and the US, he added.
AU Small Finance Bank data leak: Salesforce says no vulnerability at its end
Salesforce has stated no vulnerabilities were found concerning a suspected data leak at AU Small Finance Bank. The bank is investigating claims of a breach by hackers, affecting sensitive customer data. Reportedly compromised information includes KYC records and personal identification documents, while the bank assures its core systems are unaffected. Prime Minister Narendra Modi recently warned of increasing cyberattack threats to the economy.
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Jio Platforms profit zooms 14% on healthy user mix, digital play
Jio Platforms has unveiled an impressive 14% net profit growth to ₹8,387 crore for the September quarter, achieving a milestone subscriber count of 542 million, which includes 300 million utilizing 5G services. Revenue from operations climbed to ₹40,475 crore, fueled by a surge in digital services and a boost in average revenue per user, now at ₹218.8.
Wendy’s draws buyout bid as beef costs and burger rivalry weigh on business
Wendy’s shares jump after Nelson Peltz’s Trian Fund Management offers $7.35 per share to take the burger chain private, as the company faces high beef costs, weaker consumer demand, store closures and intensifying competition in the US fast-food market.
Arunachal Pradesh faces protests over 11,000-MW Siang dam, 1,605-MW Subansiri project
Protests erupted in Arunachal Pradesh over proposed hydropower projects, causing violent clashes and significant unrest. People oppose the Siang Upper Multipurpose Project and the Subansiri Upper Hydroelectric Project, voicing concerns over environmental damage. Chief Minister Pema Khandu emphasized the need for careful assessment of the projects before proceeding. The proposed developments are linked to fears of water security due to China's dam projects upstream.
Global Market: European shares fall as HSBC earnings drag banking stocks
European shares fell as HSBC's disappointing revenue weighed on banking stocks, while political unrest in France dampened investor sentiment. The STOXX 600 slipped, with gains in healthcare stocks following Novartis' upgraded earnings outlook offering some support.
Global Market: Japan life insurers eye domestic bonds as foreign debt selling grows
Japan’s major life insurers are split on increasing domestic government bond holdings as rising yields make Japanese debt more attractive. Foreign bond selling has accelerated, but differences in investment strategies suggest any shift towards domestic bonds will be uneven.
Global Market: HSBC third-quarter profit jumps 32% to $9.6 billion
HSBC has announced a remarkable 32% rise in pretax profits for the third quarter, totaling $9.6 billion. This surge is attributed to increased interest rates and a decrease in anticipated credit losses, significantly boosting profitability. However, despite these promising results and a share buyback initiative, the bank's shares saw a decline of over 3%. The interim dividend remains steady at $0.
Global Market: Yuan holds near four-year high as China tempers appreciation pace
China’s yuan held near a four-year high against the US dollar as the central bank moderated its daily fixing. Export-related demand and stronger industrial profits supported the currency, while global markets awaited key central bank decisions.
Telangana to unveil Aerospace and Defence Policy 2.0 to attract investments: Revanth Reddy
Reddy said Hyderabad holds a strategic position in India, citing the city's safety, research institutions and the presence of key strategic centres of the Indian Army and the Indian Air Force.
F1's India comeback is gathering speed, but the road to the starting grid is far from clear
Formula 1’s return to Africa has revived hopes of an Indian Grand Prix comeback, with talks involving Formula One Management, the Adani Group and the government gaining momentum. The bigger challenge is not convincing F1 of India’s market potential but fixing the tax, customs and policy problems that drove the race out in 2013, while finding space on an already crowded calendar.
A little Nashik goes a long way in Italy
This month saw a Nashik company make waves by exporting wine equipment to Italy, a clear demonstration of India's burgeoning potential in the wine sector. The success of this small consignment is emblematic of an industry on the rise. Analysts predict domestic market expansion, particularly with relaxed state regulations, could see India's wine market soar to $2.6 billion by 2033, alongside a trend in non-grape wineries shaping the future.
Rajnath Singh urges Army Commanders to prepare for future challenges, stresses 20-30-year strategic vision
Defence Minister Rajnath Singh addressed the Army Commanders' Conference in New Delhi, emphasizing the importance of strategic vision. He called for the Indian Army to remain prepared for future challenges and adapt to evolving operational circumstances. Singh highlighted the significance of integrating modern technology and multi-domain capabilities for effective warfare. The Defence Minister also released the new Land Warfare Doctrine while recognizing the efforts of Indian peacekeepers.
European Donald on a mission to mould ties with India
Poland's Prime Minister Donald Tusk is visiting India to enhance strategic partnerships in trade and technology. The visit includes talks with Prime Minister Narendra Modi regarding security and economic collaborations. Business programs in New Delhi and Bengaluru are planned to stimulate investment and innovation. Both countries aim to develop a trade roadmap targeting $10 billion and address market barriers.
Scaling existing climate tech, wider data access key to climate action: CCF founder
Bengaluru recently celebrated the launch of Bangalore Climate Data Week, a dynamic five-day gathering dedicated to advancing climate action through innovative technology. Leading figures stressed the necessity of synergistic efforts among startups, government bodies, and researchers to amplify climate solutions. Key topics explored included leveraging AI for decarbonization and optimizing urban resources, showcasing Karnataka’s extraordinary tech ecosystem as crucial for progressive climate innovation and strengthening India's role in global partnerships.
Anup Bagchi backs 'exceptional' team as he connects the dots at HDFC Bank
Anup Bagchi is set to take charge as MD and CEO of HDFC Bank starting October 27. He is currently familiarizing himself with the bank's balance sheet and profitability structure. Bagchi aims to engage with regulators, customers, and stakeholders to gather insights before implementing changes. His focus is on understanding the organization's operations rather than rushing into strategic alterations.
Sumitomo-backed Yes Bank pegs AT1 bond verdict hit at Rs 5,217 crore
Yes Bank's reported profit for the September quarter could have turned into a loss due to the AT1 bond ruling. The bank's CET-1 ratio would drop significantly if the Supreme Court's decision is fully implemented. Investors are concerned as mutual funds pause investments in the bank's AT1 bonds. Yes Bank is assessing the legal and financial implications of the Supreme Court's judgment.
CRPF mulls restoring Army ranks abolished 30 years ago; promotions, Agniveers in focus
The CRPF is considering reintroducing the lance naik and naik ranks, abolished in 1997, to address promotion delays among its 3.25 lakh personnel and attract retiring Agniveers from the Army. The move could provide constables with two additional promotion opportunities before becoming head constables.
Supermarket operator Ahold's websites, app remain offline 5 days after cyber incident
An Ahold spokesperson said the parent company cannot comment about the situation at its individual chains. Its US brands, which include Stop & Shop, Giant Food, Hannaford and Food Lion, are collectively one of the largest food retailers in the United States. Physical stores remain open.
From worst to best: How IT stocks staged a Rs 2.6 lakh crore revival this week
Indian IT stocks staged a sharp comeback this week, adding Rs 2.6 lakh crore in market value as the sector gained 12% to become the best-performing index. Better-than-expected Q2 earnings, positive management commentary and a selloff in AI-linked stocks helped revive sentiment, even as concerns over AI adoption and earnings growth persist.
Flipkart ex-staff push for Esop buyout; Wipro, Tech Mahindra’s Q2 report
Happy Friday! Former Flipkart employees are asking Walmart to cash out their vested stock options. This and more in today’s ETtech Morning Dispatch.
Not-so smooth ride: Auto industry faces cost squeeze as steel, freight prices surge, more hikes likely
The Indian automobile industry is currently grappling with rising input and freight costs due to geopolitical uncertainties. Prices of key commodities like HR steel and aluminum have surged significantly over the past year. Major car manufacturers have already implemented multiple price hikes and are considering more after the festive season. Despite these challenges, overall auto sales have recorded strong growth in the first half of this fiscal year.
India insurance regulator to oversee smooth transition to new commission rules, chairman says
India's insurance regulator, the IRDAI, plans to implement reforms for insurance sales to improve the market. Proposed changes include capping commissions and tightening expense limits to reduce costs and mis-selling. Ajay Seth stated the intention is to avoid disruption within the industry during this transition period. Insurers and distributors have expressed concerns regarding the potential impacts on business models and job security.
A $6 bn deal signals major appetite for the India prize as global giants look to deepen exposure
The sale of a controlling stake in IDBI Bank for around $6 billion is being viewed a pivotal moment in India's banking reform journey. The transaction received attention from a variety of global investors, highlighting their confidence in the nation's financial ecosystem. Experts predict this move may open doors to increased deal-making opportunities in the future.
Cabinet clears way for Watsa's Fairfax's Rs 52,878 crore deal for 60.72% stake in IDBI Bank
Fairfax Financial Holdings will acquire a majority stake of 60.72% in IDBI Bank for ₹52,878 crore. This acquisition marks a significant moment in the government's divestment efforts, as it represents strategic restructuring. The deal aims to strengthen the banking ecosystem and support the government's disinvestment target for the fiscal year. IDBI Bank's financial position has improved significantly, with reduced non-performing assets.
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