EPFO has simplified the PF transfer process by removing the need for employer approval in most cases, aiming to speed up fund transfers and benefit over 1.25 crore members annually. With a revamped Form 13 functionality, PF accumulations will now move instantly from the source office to the destination office once approved. The upgrade also bifurcates taxable and non-taxable PF components for accurate TDS calculation. Additionally, EPFO has introduced bulk UAN generation without Aadhaar, with UANs activated after Aadhaar seeding, further enhancing service delivery and reducing grievances. - PTI

Indian Bank has cut home loan interest rates to 7.90% and vehicle loan rates to 8.25%, following the RBI Monetary Policy Committee's 25 basis point repo rate reduction to 6% earlier this month. The move aims to lower EMIs and make credit more affordable. The bank is also offering additional benefits, including discounted processing fees and zero documentation charges. Indian Bank's latest initiative reflects its commitment to enhancing customer access to affordable financing options, aligning with the broader easing of borrowing costs across the banking sector. - PTI

The Reserve Bank of India has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank, citing inadequate capital and poor earning prospects. The Registrar of Cooperative Societies, Punjab, has been requested to initiate winding-up proceedings and appoint a liquidator. Upon liquidation, 97.79% of depositors will receive their full deposits up to INR 5 lakh through DICGC, with INR 5.41 crore already disbursed as of January 31, 2025. RBI stated that the bank's continuance was prejudicial to depositors' interests and public interest would be harmed if it remained operational. - PTI

Housing registrations across eight major cities, including Mumbai, Bengaluru and Hyderabad, surged 77% to 5.44 lakh units in FY25 from FY19 levels, according to Square Yards. The report showed primary market sales accounted for 57% of registrations, while secondary (resale) transactions made up 43%. Secondary market volumes rose from 1.22 lakh units in FY19 to 2.33 lakh units in FY25. Square Yards CEO Tanuj Shori said the housing market has witnessed a V-shaped recovery driven by renewed homeownership sentiment, alongside growing preference for ready-to-move-in properties boosting secondary market activity. - PTI

Power demand under West Bengal State Electricity Distribution Company Ltd (WBSEDCL) crossed 10,000 MW for the first time in April, reaching 10,090 MW on April 24 at 11 PM, a sharp rise compared to last year's record peak of 10,507 MW in June, an official said. Private utility CESC also recorded a peak demand of 2,507 MW on the same day. Power Minister Aroop Biswas is holding biweekly review meetings with officials to ensure uninterrupted supply amid rising temperatures, focusing on steady distribution and outage prevention across the state. - PTI

India's forex reserves jumped by USD 8.31 billion to USD 686.145 billion for the week ended April 18, the Reserve Bank of India said on Friday, marking the seventh consecutive weekly rise. Foreign currency assets rose by USD 3.516 billion to USD 578.495 billion, while gold reserves surged USD 4.575 billion to USD 84.572 billion. Special Drawing Rights (SDINR) increased by USD 212 million to USD 18.568 billion, and India's reserve position with the IMF grew by USD 7 million to USD 4.51 billion. Forex reserves had earlier touched a record high of USD 704.885 billion in September 2024. - PTI

Bengaluru-based EV maker River has crossed INR 100 crore in revenue within just 4 years of its founding and achieved 1,000 monthly unit sales of its electric scooter Indie, known as the "SUV of Scooters." The company currently operates 20 outlets across cities like Bengaluru, Hyderabad, Chennai, and Kochi and plans to expand into Trivandrum, Vijayawada, and Pune soon, targeting a presence in over 100 cities by 2026. Founded by Aravind Mani and Vipin George in 2021, River is backed by investors including Yamaha Motor, Mitsui, Marubeni, Al Futtaim, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility. - PTI

Equity benchmark Sensex tanked 588.90 points to 79,212.53 and Nifty dropped 207.35 points to 24,039.35 on Friday as heightened Indo-Pak border tensions and profit booking weighed on market sentiment. Axis Bank fell over 3% after posting weak March quarter results, while Adani Ports, Maruti, Bajaj Finserv and NTPC were major laggards. BSE smallcap and midcap indices slumped 2.56% and 2.44%, respectively. Except IT, all sectoral indices ended in the red. Despite early gains, geopolitical concerns triggered a risk-off mood across domestic markets. - PTI

Kinley Soda, Coca-Cola's leading sparkling beverage brand, has crossed INR 1,500 crore in revenue, driven by quality, consistency, and strong consumer trust. Built on a demand-led portfolio, Kinley has expanded across 1.4 million retail outlets in India, from local kiranas to premium stores. Celebrating over two decades of growth, Coca-Cola India has also introduced a refreshed brand identity for Kinley Strong Soda. The milestone reflects Coca-Cola's strategy of purposeful, data-led innovation and commitment to scaling consumer-centric brands across all channels in India. - PTI

The NGT has directed Jaypee Infratech to halt construction in Noida's Jaypee Wishtown, citing environmental violations in the Yamuna floodplain and Okhla Bird Sanctuary area. Authorities are instructed to prevent any illegal construction until the next hearing on August 21.

The state of New Jersey has filed an antitrust lawsuit against property management software company RealPage and ten of the state's largest landlords, including AvalonBay Communities. The lawsuit alleges that they conspired to raise residential rents through illegal collusion, using RealPage's revenue management software to exchange non-public data and coordinate pricing strategies. This action follows a similar lawsuit filed by the U.S. Department of Justice and eight states in 2024.

Sales of new single-family homes in the U.S. increased by 7.4% in March 2025, reaching a seasonally adjusted annual rate of 724,000 units, according to economists polled by Reuters. This marks the highest level since September 2024, driven by a temporary decline in mortgage rates to 6.65%. However, rising construction costs due to tariffs and an uncertain economic outlook continue to pose challenges.

The Greater Cochin Development Authority (GCDA) announced that the construction of a new shopping complex in Kakkanad is nearing completion. The project replaces a 50-year-old building and is expected to enhance the commercial infrastructure of the area.

In Chhapra, Bihar, 184 beneficiaries were handed over keys to their newly constructed houses under the Pradhan Mantri Awas Yojana (Urban) 1.0. Each beneficiary received INR 2.5 lakh in three installments for the construction of their homes.

U.S.-based AML RightSource has leased 157,000 sq. ft. in Noida to establish a Global Capability Centre (GCC). This move aligns with the trend of multinational companies expanding in the region, bolstered by infrastructure developments such as the upcoming Jewar airport.

Greater Noida has experienced a 98% increase in property prices over the past five years, with rates rising from INR 3,340 per sq. ft. in early 2020 to INR 6,600 per sq. ft. in 2025. This growth outpaces other NCR regions like Noida, Gurugram, and Dwarka.

Macrotech Developers Ltd, known for its Lodha brand, reported a 38% year-on-year increase in consolidated net profit to INR 922 crore for the quarter ending March 2025. The company's EBITDA rose by 16.6% to INR 1,221 crore, with margins expanding to 28.9%.

Regarding concerns over fraudulent construction documents, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed planning authorities to verify the authenticity of Occupancy Certificates (OCs) for 3,699 lapsed real estate projects. Authorities are required to confirm the validity of these OCs within ten days; failure to respond will be considered as acceptance.

Prestige Hospitality Ventures Ltd, a subsidiary of Prestige Estates Projects, has filed draft papers with SEBI to launch an initial public offering (IPO) aiming to raise INR 2,700 crore. The IPO will include both fresh equity issuance and an offer for sale. Proceeds are intended for debt reduction and expansion of the company's hospitality portfolio, including seven operational hotels.

Bajaj Housing Finance reported a 54% rise in net profit for Q4 FY25, reaching INR 587 crore, driven by strong loan growth and improved margins. The company also saw robust demand in home loans and LAP segments. This performance reflects continued momentum in the housing finance sector, supported by rising homeownership and favourable borrowing conditions. Source: PTI

At the India Steel 2025 event, PM Narendra Modi urged industry players to build a steel-strong India by enhancing domestic production, tapping greenfield mines, and securing raw material supply chains. He stressed reducing imports, boosting exports, and leveraging infrastructure growth to meet the 2030 target of 300 MT capacity, while embracing innovation, sustainability, and technology. Source: PTI

Databricks plans to invest over USD 250 million in India over the next three years to boost R&D, marketing, and workforce training. The company aims to increase its local headcount to 750 by fiscal year-end and train 5 lakh professionals through its newly launched India Data + AI Academy, reinforcing India's AI and data capabilities. Source: PTI

NTPC Green Energy Ltd will consider a proposal to raise INR 5,000 crore through bonds in FY 2025-26 during its board meeting scheduled for April 29. The funds may be raised via secured or unsecured, redeemable debentures in multiple tranches, supporting NGEL's renewable energy expansion under NTPC's green initiatives. Source: PTI

Devyani International will acquire an 80.72% stake in Sky Gate Hospitality, which runs brands like Biryani By Kilo, Goila Butter Chicken, and The Bhojan, for INR 419.6 crore. The acquisition strengthens DIL's Indian cuisine portfolio and expands its footprint across over 40 cities. Post-deal, Sky Gate will become a DIL subsidiary. Source: PTI

Sebi has streamlined processes for Small and Medium REITs by standardising disclosures in offer documents and simplifying public issue procedures. Key changes include splitting offer documents into KIT and KIS sections, semi-annual updates, and clarity on public issue timelines. These reforms aim to enhance transparency and ease of doing business in India's growing SM REIT sector. Source: PTI

ABB India has started using electric vehicles for last-mile deliveries and factory-to-distribution centre transport in Bengaluru. The initiative, launched at its Nelamangala and Hanchipura sites, aims to cut Scope-3 greenhouse gas emissions, supporting its sustainability goals. This move aligns with ABB's broader efforts to promote clean energy use in commercial logistics operations. Source: PTI

Mumbai recorded the steepest drop in office vacancy rates in FY25 among Indian cities, driven by robust occupier demand and limited new supply. Key micro-markets like BKC and Lower Parel witnessed strong leasing by BFSI and IT firms. The trend signals a potential turnaround in Mumbai's commercial real estate cycle.

Bhiwandi, Luhari, and the NH-16 corridor led to warehousing space absorption in FY25. These regions accounted for a major share of India's leasing activity due to their connectivity and logistics potential. Demand was driven by 3PLs and e-commerce firms, though overall warehousing space leasing remained subdued in Western markets.

Pacific Group will develop a 1.5 million sq ft mall with a 130-room hotel in Jaipur, aiming to boost the city's retail and hospitality infrastructure. The project will host national and global brands, along with premium entertainment zones. It forms part of the group's broader expansion into Tier 2 cities.

UK-based real estate agency Foxtons reported a 24% revenue growth in Q1 2025, driven by higher property sales and increased rentals. The company saw robust activity in the London market and expanded its lettings portfolio. This growth signals a strong post-pandemic recovery in the UK residential sector.

Demand for industrial and warehousing space dropped 47% YoY in Mumbai and Pune during Q4 FY25, as per Colliers. The two cities recorded a combined leasing of 1.2 million sq ft, down from 2.3 million sq ft last year. Reduced demand is attributed to slower manufacturing and logistics activity.

THE MHADA CEO has directed relevant departments to expedite redevelopment and infrastructure projects across Mumbai. Emphasis was placed on timely progress reports and resolution of inter-departmental delays. This directive comes as MHADA gears up for major housing redevelopments, ensuring better civic coordination for Mumbai's urban renewal efforts.