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• Patna Municipal Corporation has provided nearly INR 40 lakh as rebate to around 35,948 property taxpayers for making early payments in the current financial year.
• The civic body collected close to INR 11 crore in property tax during the initial weeks of the financial year through the rebate scheme.
• A 5% rebate on the principal tax amount is being offered for lump-sum payments made before June 30 under the Bihar Municipal Property Tax Rules, 2013.
• Nearly 60% of taxpayers used online payment methods, including UPI platforms and the municipal portal, showing rising digital adoption.
• PMC has also extended counter timings and started awareness drives as it aims to improve collections and reduce pending dues across city zones.Read more

12 May 2026

The Reserve Bank of India has approved Kotak Mahindra Bank to increase its aggregate holding up to 9.99 per cent each in AU Small Finance Bank and Federal Bank. The approval was communicated to both banks this week through separate regulatory filings. The move allows Kotak Mahindra Bank, along with its subsidiaries and schemes managed by group entities, to expand its exposure in the two lenders. Shares of AU Small Finance Bank, Federal Bank and Kotak Mahindra Bank also witnessed gains in trading following the development.Read more

12 May 2026

• Securities and Exchange Board of India has granted approval to six companies, including Horizon Industrial Parks and Zepto, to proceed with their initial public offerings.
• The other companies receiving regulatory observations include Dhoot Transmission, Hotel Polo Towers, Crystal Crop Protection and Surgiwear.
• The companies had filed their draft IPO papers with Sebi between October and February as part of their proposed public fundraising plans.
• Under Sebi regulations, the issuance of observations is treated as approval for companies to move ahead with their public share offerings.Read more

12 May 2026

BSE Ltd reported its strongest-ever financial performance in FY26, driven by sharp growth in derivatives trading and higher activity on its mutual fund distribution platform. Consolidated net profit for the March quarter rose 61% year-on-year to INR 795.47 crore, while annual profit increased 88% to INR 2,487 crore. Total revenue for FY26 climbed 59% to INR 5,148 crore, marking the best annual performance in the exchange’s 150-year history. The company also announced a final dividend of INR 10 per equity share, subject to shareholder approval.Read more

12 May 2026

India’s real estate sector is increasingly integrating digital and data-driven technologies across project planning, construction, sales and asset management as developers respond to rising operational costs, regulatory requirements and changing consumer expectations. A joint report released by FICCI and KPMG estimated the sector’s market size at USD 650 billion in 2025 and projected it to expand to USD 5.8 trillion by 2047. The report highlighted that technology is becoming central to the sector’s operational framework, replacing fragmented and paper-based systems with scalable digital processes. Industry stakeholders noted that stronger institutional participation, the growth of REITs and InvITs, and more digitally aware homebuyers are accelerating the shift towards transparency, efficiency and integrated property services. The findings were presented during a real estate summit organised by FICCI in New Delhi.Read more

12 May 2026

Capital markets regulator Securities and Exchange Board of India (Sebi) has settled proceedings against four entities in connection with an alleged layered diversion of funds involving erstwhile Indiabulls Real Estate Ltd, now known as Embassy Developments Ltd, after the entities collectively paid around INR 10.49 crore as settlement amount. The matter relates to Sebi’s investigation into alleged diversion, siphoning and misappropriation of funds routed through subsidiary Albasta Infrastructure Ltd between FY10 and FY17. The regulator had examined the company’s consolidated financial statements for FY15 to FY17 and subsequently issued a show-cause notice in 2023. The settlement applications, filed in 2024, were approved by Sebi’s whole-time members earlier this year. The entities settled the matter without admitting or denying the findings and legal conclusions recorded by the regulator.Read more

12 May 2026

Awfis Space Solutions has expanded its Chennai footprint by adding two new flexible workspace centres in key commercial locations, increasing its presence in the city to 28 centres covering around 8.75 lakh sq ft. The new facilities at Olympia Crystal in Guindy and DLF Cyber City together contribute nearly 1.14 lakh sq ft of workspace. In a separate international move, The Executive Centre has launched a new managed office facility in Riyadh’s King Abdullah Financial District, strengthening its global expansion in premium flexible workspace offerings amid rising enterprise demand.Read more

12 May 2026

Aptus Value Housing Finance reported a 26% year-on-year increase in net profit for the March quarter of FY26, supported by technology upgrades and operational improvements. The company’s quarterly profit rose to INR 261 crore, while total income increased 19% to INR 594 crore. For the full financial year, profit climbed to INR 943 crore with strong growth in income and assets under management. The lender also recorded its highest-ever quarterly disbursements during the quarter. However, asset quality saw some pressure, with both gross and net NPAs moving higher compared to the previous year.Read more

12 May 2026

Recove Ventures Pvt Ltd has signed a 10-year memorandum of understanding with the Maharashtra government to invest more than INR 500 crore in building a large-scale plastic recycling and circular manufacturing ecosystem across the state. The agreement, announced in Mumbai in the past week, covers investments in waste processing, recycling, material recovery, aggregation and related manufacturing activities. In the first phase, the company plans to establish capacity to process 5,000 tonnes of plastic waste per month, with a long-term target of scaling operations to 100,000 tonnes annually. The initial project under the partnership will be an advanced high-density polyethylene (HDPE) and polypropylene (PP) recycling facility at Additional Jalgaon MIDC, involving an investment of over INR 35 crore. The facility is expected to become operational by the end of 2026 and generate both direct and indirect employment in the region.Read more

12 May 2026

Escorts Kubota Ltd reported a marginal rise in consolidated net profit for the fourth quarter, supported by strong growth in revenue and tractor sales. The company’s revenue from operations increased significantly during the quarter, while tractor volumes saw healthy double-digit growth. Construction equipment sales also improved on a yearly basis. For the full financial year, the company recorded a sharp jump in profit and higher revenue, driven mainly by better performance in the farm equipment business. The board has also recommended a final dividend for shareholders for FY26, subject to approval at the upcoming annual general meeting.Read more