Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire a significant stake of up to 24.99% in India's Yes Bank. This deal, valued at approximately USD 1.6 billion, represents one of the largest foreign investments in the Indian banking sector. While SMBC can now nominate two directors to the board, the RBI's approval specifies that the Japanese bank will not be treated as a "promoter" of Yes Bank, meaning it will not have control over its day-to-day operations.Read more

The Central Board of Direct Taxes (CBDT) has proposed enhanced measures to tackle benami real estate transactions. A recently submitted report recommends granting tax officials access to Aadhaar data, state property registries, and vehicle records to identify 'dummy directors' in shell companies. The panel also suggests amending laws to allow confiscation of assets linked to benami properties when the actual beneficiaries cannot be traced. These steps aim to address existing legal loopholes and strengthen enforcement against illicit property dealings.Read more

Brigade Enterprises added 10 million sq ft to its land bank in the June quarter, with an estimated revenue potential of INR 11,200 crore. The company continues to focus on Tier-1 southern markets Bengaluru, Chennai, and Hyderabad where it sees significant growth opportunities. While sales bookings improved in value terms due to higher realisations, booked volumes declined. The company also reported strong financial results with sharp profit growth and higher income. With a strong pipeline, Brigade remains focused on steady expansion in its core markets.Read more

Reliance Infrastructure has finalised the monetisation of its Pune-Satara Toll Road project by transferring full ownership of PS Toll Road Pvt Ltd to Singapore-based Cube Highways and Infrastructure III. The agreement is valued at an enterprise value of around INR 2,000 crore. Reliance Infra will receive equity proceeds of INR 600 crore and reduce consolidated debt by INR 1,400 crore through the transaction. The move is in line with the company's strategy to unlock value from non-core assets, maintain financial discipline, and focus on its long-term business areas.Read more

Sundaram Home Finance has launched its affordable housing solution, Anugraha, to cater to lower and mid-income families in Tier II and III towns. The initiative is part of its Emerging Business division, which also covers small-business loans. The company began its entry into affordable housing finance last year and has now formalised it under the Anugraha brand. With over fifty branches across Tamil Nadu and Andhra Pradesh, it recorded disbursements of more than INR 200 crore in the last financial year. The company sees this new segment as an important driver of its future growth.Read more

The Goods and Services Tax (GST) Council is preparing to review a major change in India's indirect tax structure. The council, headed by the Union finance minister and comprising finance ministers from states and union territories, will meet in New Delhi to consider reducing the current four-tier system into a simpler two-slab structure. A Group of Ministers has already given in-principle approval to the plan, which proposes 5 % and 18 % rates, along with a 40 % levy on ultra-luxury and sin goods. The meeting will also deliberate on cess rationalisation and insurance-related relief.Read more

Centrum Capital Ltd has announced the divestment of its entire stake in its affordable housing finance business, Centrum Housing Finance Ltd (CHFL), to new-age lender Weaver Services for INR 430 crore. The sale, which is subject to regulatory and shareholder approvals, is a strategic move for Centrum to streamline its operations and focus on its core businesses. For Weaver Services, an entity backed by prominent investors like Premji Invest, Lightspeed Ventures, and Gaja Capital, the acquisition provides a crucial entry point into India's booming affordable housing finance market.Read more

Tembo Global Industries Ltd has successfully raised INR 316.7 crore through a mix of preferential equity and share warrants to fund its aggressive growth strategy. The capital infusion, which saw strong participation from promoters and strategic partner Mohammed Abdul Nayeem of Saudi Arabia's Masah Construction, will be used to scale up the company's EPC operations and accelerate its recent foray into the high-potential defence manufacturing and infrastructure sectors. This move aligns the company with the Indian government's 'Make in India' and 'Atmanirbhar Bharat' initiatives, positioning it as a key player in the nation's industrial build-out.Read more

The Phoenix Mills has acquired the Canada Pension Plan Investment Board's (CPP Investments) 49% stake in their joint venture, Island Star Mall Development (ISMDPL), for a total of INR 5,449.16 crore. This strategic move, which has been approved by the Competition Commission of India (CCI), gives Phoenix Mills full ownership and sole control of ISMDPL. The acquisition will be funded over three years and is intended to consolidate ownership of key retail assets, enhancing operational flexibility and positioning the company for long-term growth.Read more

EZTax launched a new version of its self-service income tax e-filing portal with artificial intelligence features designed to simplify filing, reduce errors, and save time. The update is expected to cut e-filing duration by about 30% while helping taxpayers find savings and ensure accuracy. EZTax, an authorised e-Return Intermediary since 2016, has steadily expanded its technology, including AI planning tools introduced in 2017. The platform supports a wide range of filings, from standard ITR forms to complex cases such as crypto, overseas income, and capital gains, serving both Indian residents and NRIs in over 42 countries.Read more