Category Archives: Business

The Leela Palace Bengaluru Unveils the City’s First Lippan Art Christmas Tree, Created Exclusively for Its Holiday Celebrations

BENGALURU, Dec 6: The Leela Palace Bengaluru unveiled ‘Mirrors of Hope’, the city’s first Lippan Art Christmas Tree, at its annual tree-lighting ceremony last evening, reimagined this year as a celebration of artisan craftsmanship, women empowerment, and conscious luxury. The 12-foot installation, handcrafted by women artisans from Kutch in collaboration with the Karigar Foundation, brought India’s indigenous craft traditions to the forefront while redefining festive storytelling at the Palace.

In a city known for its dynamic blend of tradition and modernity, The Leela Palace Bengaluru has set a new benchmark for how luxury hospitality can approach festive celebrations, not as an opportunity for spectacle alone, but as a platform for cultural preservation, women’s empowerment, and sustainable design.

The ceremony brought together guests, cultural voices, and the hotel’s leadership to witness a celebration that honored not just the festive season, but the hands that created it. The installation has been aptly named ‘Mirrors of Hope’, each mirror embedded in the clay surface symbolizing light, reflection, and the promise of a brighter future.

In collaboration with women artisans from rural Gujarat, The Leela Palace Bengaluru crafted each element of the installation with care, using sustainable materials and techniques passed down through generations. Rather than opting for imported or mass-produced decorations, the hotel chose authentic, handmade adornments made from sustainable materials like clay, mirrors, and natural elements, which showcased the vibrant heritage of India’s craft traditions.

The result is a visually stunning tree adorned with intricate, handcrafted Lippan motifs, each one imbued with cultural significance and the personal artistry of its creator. Additionally, the installation stands as a representation of the hotel’s commitment to conscious celebration and environmental care.

Lippan Art, also known as Lippan Kaam, is a centuries-old craft form traditionally practiced by women in the Kutch region of Gujarat. However, like many traditional art forms, Lippan has faced challenges in recent years as younger generations move away from rural crafts and artisan communities struggle to sustain their livelihoods.

For The Leela Palace Bengaluru, commissioning this tree was about giving a vanishing craft form contemporary relevance. And by placing it in a high-profile space, the hotel ensured the artistry was seen, celebrated, and understood as part of India’s living artistic heritage.

The evening’s atmosphere was exquisitely enhanced by festive cocktails, delicate seasonal bites, and the enchanting sound of live Christmas carols that filled the lobby. By bringing together guests, artisans, and cultural narratives, the hotel turned the ceremony into a celebration of shared values, inviting guests to pause and appreciate the intersection of celebration and craftsmanship.

As the moment arrived for the ceremonial lighting of the tree, it became clear that this was not just a symbolic gesture. The illumination of the installation represented a deeper tribute to purpose and conscious celebration with the hotel committing to support artisan welfare initiatives based on engagement, a mechanism designed to extend the impact of the evening beyond the ceremony itself.

What’s further interesting in the tree will be disassembled after the festive season and its components thoughtfully repurposed into functional items such as handcrafted coasters for guest rooms, ornamental keepsakes for VIP gifting, and art pieces for internal display and mementos, extending the life and story of the installation well into the new year & reinforcing The Leela’s commitment to conscious luxury, where beauty is not fleeting, but enduring.

A part of a coordinated festive initiative across multiple Leela properties this season, the hotel demonstrated how a classic ceremony can be transformed to carry deeper meaning & that the festive season is not only a time for joy and gathering, but also a time for thoughtful action and purposeful celebration.

The Lippan Art Christmas Tree stands as a glowing reminder that joy can be beautiful, meaningful, and transformative all at once. And that when celebration is rooted in care, it reflects something far greater than light – it reflects hope, heritage, and the dignity of craft.

Fino becomes India’s first Payments Bank  to receive ‘In-principle’ approval from RBI for conversion into a Small Finance Bank

Mumbai, Dec 06: Fino Payments Bank Limited (“Fino” or “the Bank”) today announced that it has received the Reserve Bank of India’s (“RBI”) ‘In-principle’ approval to convert into a Small Finance Bank (“SFB”) marking a significant step in the Bank’s long-term vision to become India’s most trusted, digital-led bank.

The ‘In-principle’ approval also marks the first instance of a Payments Bank in India getting an opportunity to convert into an SFB. It is an affirmation of the strength and scalability of Fino’s lean operating model, consistent performance and high standards of governance.  

Terming the conversion to SFB as a natural progression, Rishi Gupta, MD & CEO, Fino Payments Bank, said,

“The ‘In-principle’ approval is a historic and momentous occasion in Fino’s evolution journey. We are deeply grateful to the regulator (RBI) for reposing faith in Fino’s asset light business model and its robust governance structure. The approval is a testament to our consistent performance, ability to take technology-led banking to the masses, promote digital payments and adherence to compliance and regulatory guidelines. 

It provides Fino, an opportunity to realise its growth potential by expanding product suite, engaging with a wider customer segment, foray into lending and building a strong liability franchise thereby creating significant value for all stakeholders.

I take this opportunity to thank our investors, customers, employees and partners for their continuous support and patronage, and express my gratitude to our Board Members for their guidance.” 

The Bank will continue to leverage its asset-light, distribution-led network while investing in technology, data and partnerships to build scale efficiently. For customers, this conversion will translate into more choice, greater convenience and a wider range of solutions delivered through Fino’s trusted phygital model.

Ketan Merchant, Chief Financial Officer, Fino Payments Bank said,

“We are honoured by the RBI’s ‘In-principle’ approval and deeply grateful for the continued trust reposed on Fino. Our model allows us to mobilise liabilities at low cost, this would enable us to build a differentiated Small Finance Bank focusing on secured assets and enhance our ROE through asset light model.”  

As of September 30, 2025, Fino served 16 million customers through 2 million+ merchants covering 97% of India’s pin codes, giving it one of the widest and most trusted last-mile networks in the country. During the mentioned period, the Bank also had a deposit base of over Rs 2,300 crores with cost of funds as low as 1.9%, a significant metric and potential differentiator in the long run. 

Conversion plan and regulatory road map

Fino will now work closely towards:

• Meeting all conditions stipulated under the ‘In-principle’ approval
• Aligning capital, governance and structural requirements for SFB operations
• Preparing a comprehensive migration blueprint ensuring seamless continuity of all existing services during the conversion period

The Bank will continue to operate as a Payments Bank until final approval is granted and SFB operations commence. 

CREDAI Hyderabad Responds to RBI Rate Cut

Hyderabad: Dec 06: Confederation of Real Estate Developers Association of India (CREDAI) Hyderabad welcomes RBI’s 25 basis point rate cut and presents the following leadership quotes to capture the key points and intent as stated by CREDAI Hyderabad executives. The release underlines how the move supports affordable housing, buyer confidence, and sustainable growth in Hyderabad’s real estate sector.

According to Mr. N Jaideep Reddy, President, CREDAI Hyderabad, “This 25-bps reduction in repo rate and a cumulative reduction of 125 basis points in 2025 will help make credit more accessible at lower rates. With RBI’s proactive liquidity measures—₹1 lakh crore in Open Market Operations purchases—banks have both the mandate and the means to swiftly transmit these benefits to homebuyers encouraging home buyers to avail cheaper home loan rates to pick their dream home. As a step toward affordable housing, the RBI rate cut lowers borrowing costs and supports homebuyers in achieving their homeownership goals. This policy action is timely for Hyderabad’s market, reinforcing confidence among developers and buyers alike.”

Adding to this Mr. B. Jagannath Rao, President Elect, CREDAI Hyderabad said, “The consistent rate reduction in the monetary policy gives homebuyers a window to lock in historically low rates and substantial savings while securing their dream home in India’s most dynamic and affordable metro. With Hyderabad’s average home loan value at ₹75 lakh, the benefits are substantial and immediate:

For a ₹75 lakh loan over 30 years, buyers save nearly ₹4.76 lakh in total interest
The cumulative 125 bps reduction for the year delivers ₹800-₹1,000 monthly relief on a ₹50 lakh loan
These are real, meaningful savings that make homeownership more accessible for Hyderabad’s aspiring families.”

According to Mr. Kranthi Kiran Reddy, Gen Secretary, CREDAI Hyderabad, “Lower interest rates directly increase purchasing power. Buyers can now qualify for larger loan amounts while maintaining the EMI burden, opening doors to better properties and premium locations that were previously just out of reach. For our industry—fuelled by monetary policy, infrastructure development, and job-led demand—this offers a perfect combination for sustained success and growth.”

Uber sees record festive demand for Courier, plans expansion to 10 more cities  

Chandigarh, Dec 05: Uber today shared key trends for Uber Courier and Uber Courier XL this festive season, marking the highest-ever demand for the delivery products. As consumers across Indian cities increasingly turn to Uber for everyday and festive deliveries, the company announced plans to expand Uber Courier to over 10 new cities in 2026.

Available already in 25 cities across India, Uber Courier and Courier XL continue to see rapid adoption, offering fast, reliable, and convenient delivery solutions for everything from gifts to essentials. Powered by Uber’s global technology and local reliability, the products are reshaping how India moves packages.

Speaking on the growth of Uber Courier, Shiva Shailendran, Director – Consumer Growth, Uber India and South Asia said,

“Uber Courier is redefining convenience by giving people a simple, reliable way to move what matters to them. From festive gifts to daily essentials, users are trusting us with deliveries that truly count. The strong growth we’re seeing reflects how deeply these products are resonating with our users and how they’ve become part of everyday life.”

During the festive period, Uber Courier, already Uber’s fastest-growing category, saw a sharp rise in usage for both daily and seasonal deliveries. Common items included food, clothes, medicines, and small electronics, underscoring how embedded the service has become in day-to-day life. Deliveries peaked around Diwali and Rakhi, with the busiest hours being between 11 AM and 4 PM as users preferred convenient daytime slots to send gifts and essentials on festive days.

The product creates additional earning opportunities, with half of all Uber Bike drivers completing Courier trips. Alongside drivers, Uber Courier also provides small and medium businesses with a quick, hassle-free way to reach their customers and strengthen their connection through reliable, on-demand deliveries.

Uber Courier XL, built for larger and bulkier items, also saw strong traction this festive season. The most common items sent included sports equipment, crockery, furniture, textiles, hardware, and large stationery shipments. Deliveries for both Courier and Courier XL peaked on Thursdays, Fridays, and Sundays ahead of Diwali, underscoring how people were extensively tapping into the service to make deliveries.

Morningstar Announces Clearer, Simplified Medalist Rating to Empower Investor Success

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today announced significant updates to its Morningstar Medalist Rating™, its comprehensive forward-looking rating for managed investments. The updated methodology, which will go live globally in April 2026, is designed to simplify the rating structure, make the rating more transparent for investors, and enhance stability—empowering investors to more easily identify investments with the potential to outperform their Morningstar Category average.

“We’re simplifying key elements of our forward-looking Medalist Ratings to increase usability and give investors a clearer view into how ratings are determined,” said Laura Lutton, global head, manager research. “These updates provide the clear, easy-to-interpret insights the industry has been seeking.”

Key Enhancements to the Medalist Rating

• Transparent Pillars: Quant-driven fundamental pillars (People, Process, Parent) will now include greater visibility into the underlying inputs — including new metrics like Fund Manager Successful Experience¹— so investors can better understand how a Medalist Rating is determined. There will continue to be a delineation between pillar ratings that come from an analyst or algorithm.
• Simplified Structure: Funds are evaluated against their Morningstar Category average rather than a benchmark, enabling investors to more easily identify Medalist options within a category and make meaningful peer comparisons.
• New Price Score: A Morningstar Medalist Rating Price Score from –2.5 to 2.5 will explicitly reflect whether an investment’s fee is a liability or competitive advantage, subtracting from or adding to the overall rating.
• Fixed Rating Thresholds: Medalist Ratings will be determined by a simple combination of fundamental pillar ratings and a Medalist Rating Price Score, increasing stability by eliminating a forced distribution of ratings that caused ratings to change based on updates to other funds.

Morningstar’s updated Medalist Rating uses a simplified structure and clearer input data to show how each pillar and Medalist Rating Price Score shape the overall rating.

The ratings scale will remain a five-tier system: Gold, Silver, Bronze, Neutral, and Negative. Analyst input is central, with algorithm-generated pillars activated only when an analyst rating is not available.

“Our updated methodology and approach reinforce the value of human expertise combined with data-driven rigor, resulting in assessments that are deeply informed by real-world experience,” Lutton said.

RBI Cut Sets Stage for Lower Yields, Stronger Growth

By – Amit Somani, Deputy Head – Fixed Income, Tata Asset Management.

RBI delivered a 25bps policy rate cut and kept the stance as Neutral. One member, Prof. Ram Singh, was in favor of changing the monetary policy stance from Neutral to Accommodative. FY26 CPI Inflation outlook has been further revised down and is now projected to be at 2.0% from 2.6% in earlier policy. GDP Forecast for FY26 has been revised upwards to 7.3% from 6.8% earlier.

 CPI Inflation has been coming lower than the Market as well as RBI’s estimates throughout the year and is now estimated to reach the lower bound of target range for this fiscal. Current downward revision is attributable to higher Kharif production, healthy Rabi sowing, adequate reservoir levels creating favorable prospects for food prices. GDP growth outlook, on the other hand, has been further revised higher on account of agricultural prospects, continued impact of GST rationalization, benign Inflation and congenial monetary and financial conditions.

 With inflation outlook firmly under control and Fiscal consolidation continuing, we believe Monetary policy will continue to remain in Growth supportive mode over foreseeable future. In this regard, RBI announced immediate measures to improve Liquidity conditions while also supporting liquidity on an ongoing basis. This includes USD 5 BN Buy/Sell Swap for 3 years and Rs.1,00,000 crore of OMOs in December month itself. We expect such measures will continue in the seasonally busy last quarter of the year.

 We feel Growth supportive Monetary Policy, to have favorable ground for short-term as well as long-term yields. RBI assured keeping banking system liquidity in sufficiently positive zone. Further Liquidity operations will be conducted in a way that will keep overnight rate closer to the policy rate. We expect 10-yr G-sec to trade in 6.30% – 6.50% range and drift lower as OMO measure unfolds. Short-term yields are likely to come down on account of a rate cut; however, advance tax outflows should keep 1-year CDs in 6.40%-6.50% range.

RBI’s 25bps Cut Boosts Luxury Homebuyer Confidence, Mumbai Market Gains: CCI Projects

By:-  Mr. Rohan Khatau, Director, CCI Projects pvt. ltd on RBI MPC repo rate cut announcement. 

“The steady increase in demand for luxury homes indicates clearly the buyer’s preference for the premium category, as a sizeable portion of sales is concentrated in the ₹1 crore-and-above price category. The 25 bps cut in the repo rate by the MPC to 5.25% comes at a very opportune time and will add to buyer confidence-especially for the luxury and upper-mid categories. This sentiment  is also reinforced by India’s robust economic growth, which reached a six-quarter high of 8.2% in Q2. Integrated townships are attracting greater interest as homebuyers look increasingly toward self-sufficient, amenity forward communities assuring convenience, lifestyle upgradations, and long-term value. In Mumbai, this trend is growing exponentially, and with easier lending norms, this momentum in the premium and township-led housing market of the city is sure to gain further steam.”

Rate Easing in Line With Projections; One Final 25 bps Cut Still Possible

By – Mr. Vikram Chhabra, Senior Economist, 360 ONE Asset

The RBI’s decision to cut the repo rate by 25 bps is broadly in line with our expectations. Inflation has consistently printed below the RBI’s projections, indicating that there was adequate room for policy easing. Although GDP growth has been higher than the RBI’s forecasts, it is expected to moderate to 6.5-7 per cent in the coming quarters. This still leaves room for pursuing a higher and, as the Governor has previously described, more aspirational growth trajectory.

That said, we believe the rate-cut cycle is now nearing its end. If the growth and inflation dynamics remain supportive, there may still be room for one more 25 bps cut in this cycle, but that would likely mark the end of this cycle. In addition, we expect the RBI to maintain a comfortable liquidity surplus to ensure swift transmission to the deposit and credit markets, and to deploy further OMO purchase auctions or FX swaps if required.

RBI’s 25 bps Rate Cut Strengthens Liquidity for NBFCs, Boosts Microfinance Access & Credit Expansion

By,Mr. Rohit Garg, CEO, Olyv

Kaya Strengthens Its Presence in Tamil Nadu with the Launch of Its Second Clinic in Coimbatore

Coimbatore, Dec 05: Kaya, India’s most trusted dermatologist-led clinic chain, announces the opening of its second clinic in Coimbatore, further cementing its presence in “Manchester of the South.” Following the success of its first clinic at Skanda Square, Kaya’s new space on DB Road is a testament to the city’s growing demand for advanced, science-backed skincare.

The expansion is driven by Coimbatore’s rising business community, influx from nearby cities, and a discerning clientele that values skincare and expert-led personal care. DB Road, renowned for its accessibility and vibrant retail landscape, offers Kaya the ideal setting to serve clients seeking premium, customised dermatology solutions.

Designed as a high-tech, calming sanctuary, the new clinic offers Kaya’s full range of advanced services, including pigmentation correction, acne and scar reduction, laser hair reduction, anti-ageing treatments, hair restoration, and medi-facials, all led by board-certified dermatologists. The clinic’s approach is tailored to address Coimbatore’s unique environmental challenges, such as dust and sun exposure, ensuring every client receives personalised, science-backed care.

Dr Saranya B, Consultant Dermatologist and Medical Advisor, Kaya Limited, said, “With the launch of our new DB Road clinic, we’re making advanced dermatology more accessible to the people of Coimbatore and nearby cities. Residents often face skin issues exacerbated by local environmental factors. At the DB Road clinic, we’ve developed targeted solutions to help all age groups achieve healthier and more resilient skin.”

Coimbatore’s blend of tradition and progress makes it a standout market for premium dermatology. Our expansion here reflects our commitment to serving high-growth cities that value expert-led, science-based skincare. With our second clinic, we’re deepening our connection with a city that embodies confidence, progress, and self-care,

Kaya’s growing footprint in Tamil Nadu underscores its mission to make trusted dermatology accessible across India’s new centres of growth. The Coimbatore DB Road clinic marks a milestone in both expansion and empathy, bringing expert care, innovation, and genuine connection to every skin story.