New India Cooperative Bank Faces ₹122 Crore Fraud Allegations

Many older American professionals are facing tough times as they struggle to find jobs after being laid off. Due to their age and salary expectations, they are often overlooked in favor of younger candidates. As a result, some are taking blue-collar jobs, even though these may not match their long-term career goals. For instance, Donald Malone, once a successful consultant, now works for half his previous salary in a blue-collar position. Similarly, Eric Nielsen, who lost his job, is now juggling multiple part-time gigs to make ends meet. The job market for white-collar roles is at a low, creating a challenging environment for older workers.

Many Indian travelers buy gold in Dubai because it is cheaper than in India and is considered a safe investment. Gold is also a significant part of Indian culture, especially during weddings. Travelers can bring back up to 1 kg of gold but must declare any amount over the allowed limit. Men can carry up to 20 grams without duty, while women can bring back 40 grams of gold as jewelry, bars, or coins without customs fees. Children under 15 can also bring 40 grams, but must have proof of relation. Customs duties apply for amounts exceeding these limits.

IndusInd Bank is facing a major setback as its shares plummeted by 20% during early trading on March 11. This drop followed the bank’s announcement of discrepancies discovered in its derivatives portfolio during an internal review. The shares fell to ₹729.05, marking a significant decline that has raised concerns about the bank's financial health. In its filing, IndusInd Bank revealed that these discrepancies could impact its net worth by around 2.35%. They have hired an external agency for an independent review, while assuring that their profitability remains strong enough to absorb the one-time impact. The situation has led to analysts downgrading the stock and increasing bearish sentiment among investors.

Premium electric vehicles (EVs) in Maharashtra are about to get pricier due to a new 6% motor vehicle tax on EVs costing over ₹30 lakh. This tax is part of the state budget for the financial year 2025-26 and marks the first time Maharashtra will tax EVs, which previously enjoyed tax-free status. Along with this, the tax on individual-owned non-transport CNG and LPG vehicles has also increased by 1%. While the government expects to raise ₹320 crore in revenue, experts warn this could hinder EV sales. For example, in Telangana, similar tax increases led to a significant drop in EV adoption.

India and the European Union (EU) are set to begin their 10th round of negotiations for a Free Trade Agreement (FTA) this Monday, aiming to finalize the deal by the end of the year. Despite previous hurdles, the ongoing global tariff war and changes in India's import duties could accelerate progress. With bilateral trade at $190 billion, both sides are eager to expand trade but face challenges, especially concerning tariffs on agriculture and automobiles. The EU seeks to lower tariffs significantly, while India aims to protect its local industries. Key discussions will also focus on services and new carbon tax regulations impacting small businesses.

On March 11, real estate stocks surged, marking a significant recovery in Indian markets. The Nifty Realty index climbed nearly 3 percent, ending its three-day decline. Macrotech Developers led the charge with a 5 percent gain after acquiring land in Mumbai for over Rs 279 crore. Phoenix Mills followed closely with a 4 percent rise, while Godrej Properties and DLF also saw gains of over 3 percent each. Despite the overall positive trend, some stocks like Mahindra Lifespace and Raymond saw declines. The Nifty index recovered about 100 points, while Sensex bounced back over 300 points.

Global oil prices have dropped significantly due to disappointing economic data from China, which has raised concerns about future demand. Brent Crude oil is trading near $70 per barrel, while WTI Crude is below $67. The situation worsened as China reported deflation for the first time in over a year. In the US, President Trump noted that the economy is in a "period of transition," and the Federal Reserve acknowledged increasing uncertainty. These factors, combined with a global trade war and plans to increase oil production by OPEC, have led to bearish market sentiments. Saudi Arabia has also reduced prices for Asia, its largest market, indicating a cautious approach.

Tesla Inc's shares faced a dramatic drop of 15.43% on March 10, 2025, marking its worst single-day decline since September 2020. Concerns about the demand for electric vehicles (EVs) are plaguing the company, particularly in China, where it is struggling against local competitor BYD Co. The company’s shipments from Shanghai fell by 49% in February, reaching their lowest point since July 2022. Similarly, registrations in Germany plunged by 70% in early 2025. Analysts have lowered Tesla’s delivery projections for the first quarter, predicting a 16% decrease in vehicle handling. This situation raises significant concerns about Tesla’s future in the competitive EV market.

Indian stock markets are expected to open lower on Tuesday due to a significant sell-off in Asian markets. This drop follows a sharp decline in U.S. markets, driven by fears of a recession triggered by uncertainty over tariff policies from U.S. President Donald Trump. As investors worry about global economic stability, the GIFT Nifty futures indicate a likely opening below Monday’s close. The Nikkei 225 index in Japan fell 2.7%, and U.S. stocks, including the Nasdaq, faced substantial losses. The Nifty 50 is currently 14.5% below its all-time high due to slowing earnings and foreign selling, with investors pulling out substantial funds recently.

The new Income-tax Bill in India aims to empower tax officers with the ability to access social media and digital accounts, including banking and trading platforms. This bill defines “virtual digital space” as areas where users interact online. It reiterates existing powers to inspect and seize electronic records, making it clear that tax authorities can now include digital evidence in their searches. This simplifies the direct taxation structure that has been in place for over 60 years. Once passed, the new law is expected to take effect on April 1, 2026, marking a significant shift in tax compliance.

The Indian rupee faced its largest drop in over a month, losing 38 paise to close at 87.33 against the US dollar. This decline was influenced by fluctuating crude oil prices and a significant outflow of foreign investments. Despite a weaker dollar, local market sentiments suffered due to a sell-off in stocks. The rupee opened at 87.24 and dropped to a low of 87.36 during trading. On the other hand, Brent crude oil prices rose slightly, and the stock market also experienced losses, with major indices falling. The situation raises concerns about India's economic stability as forex reserves also diminished recently.

Artificial Intelligence (AI) is transforming industries and is essential for modern living. Kunal Shah, founder of CRED, emphasized on X that professionals must adapt to AI to stay relevant, warning that those who resist will be left behind. His post sparked a lively debate, with many agreeing that adapting to AI is crucial for survival in today's fast-paced world. Users noted that AI is not here to replace jobs but to enhance efficiency, making it vital for experts to integrate it into their work. Embracing AI can provide a competitive edge, while denial may lead to obsolescence.

Influencer Diipa Büller-Khosla is celebrating a major achievement as her beauty brand, Inde Wild, has raised $5 million in funding from Unilever Ventures. This milestone supports her dream of creating a global Indian beauty brand. Diipa shared her excitement on Instagram, revealing that Inde Wild aims to resonate in both Mumbai and New York. The brand has experienced remarkable growth, with a 400% increase in India and a 500% rise in global retail sales. Diipa plans to expand her partnership with Sephora in the US next year, marking a significant step forward for her brand.

Hyundai Motor India is facing scrutiny over its related-party transactions (RPTs) as two advisory firms provide conflicting opinions. Stakeholders Empowerment Services (SES) recommends shareholders reject six out of seven proposals, citing inadequate scrutiny and concerns over a ₹3,000 crore deal with HEC India LLP, a company with assets of just ₹11 lakh. In contrast, Institutional Investor Advisory Services (IiAS) supports all seven proposals, arguing they adhere to proper business practices. The deadline for shareholders to vote on these proposals is March 13. This situation highlights the importance of corporate governance and transparency in major financial transactions.

Small-cap companies faced heavy losses on March 10, causing the Nifty Smallcap index to drop nearly 2% to around 15,250. This decline ended a four-day rise that had followed a brief market recovery. The Nifty Midcap index also fell by 2%, reflecting a sharp downturn from earlier when markets were stable. 360 One WAM was the biggest loser, plummeting nearly 7%, marking its steepest fall in three years. Some stocks, like Aavas Financiers, gained over 6%, but the overall sentiment remains weak. Experts suggest that the market may consolidate unless earnings improve, advising a cautious approach to investments, especially in small caps.

China's consumer inflation has fallen below zero for the first time in over a year, indicating ongoing economic struggles. The latest consumer price index shows a decline of 0.7%, contrasting with a slight increase in the previous month. This drop highlights weak domestic demand and ongoing deflationary pressures, as the economy grapples with the longest period of price declines since the 1960s. Experts emphasize the need for immediate government action to stimulate growth and spending. As China sets a modest inflation target of around 2% for 2025, the urgency for effective fiscal policies is more important than ever to revive the economy.

Tata Capital is preparing to raise $2 billion through an initial public offering (IPO) but is waiting for final approval from the National Company Law Tribunal (NCLT) regarding its merger with Tata Motors Finance. This IPO could value the company at around $11 billion, making it one of the largest in India's financial sector. The company has already received board approval for the IPO, which will include both new equity shares and an offer from existing shareholders. This move is required by the Reserve Bank of India, as Tata Capital was designated as an upper-layer non-banking finance company in 2022. The approval process is expected to be finalized by the end of the current financial year.

On March 9, 2024, the Karnataka State IT/ITeS Employees Union (KITU) protested in Bengaluru, demanding urgent reforms in the IT sector. The union highlighted issues like long working hours and unpaid overtime, calling for stricter enforcement of labor laws. Their four main demands include setting daily work-hour limits, revoking certain exemptions for IT firms, taking action against law violations, and introducing a 'Right to Disconnect' policy. This comes amidst growing concerns over work-life balance, with many IT employees facing health issues due to excessive work. The protest showcases the urgent need for better employee protections in the industry.