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Ajit’s corruption charge: Look in mirror, says CM | Mumbai News


Pune: CM Devendra Fadnavis on Monday said people questioning the performance of BJP should first look in the mirror before asking what the party had done in Pune. Although he didn’t name his deputy, Ajit Pawar, observers said he was likely alluding to the NCP chief’s recent corruption charges levelled against BJP over its governance in Pune and Pimpri-Chinchwad civic bodies.“I decided that I would be speaking on the development of cities in my campaign rallies [for the 29 municipal corporations going to polls on Jan 15]. However, in Mumbai, I will have to respond [to the criticism by the opposition]. If I do not speak there, some people may think we are weak,” Fadnavis said without referring to the Thackeray cousins, Sena (UBT) president Uddhav and MNS chief Raj. Mahayuti allies BJP and NCP are contesting against each other in Pune Municipal Corporation (PMC) and Pimpri-Chinchwad Municipal Corporation. Ajit Pawar’s NCP has formed an alliance with his uncle Sharad Pawar’s NCP (SP). Recently, the deputy CM alleged that the development in both cities had slowed down because of BJP’s corrupt governance and that he is now part of the govt with those who had levelled corruption charges against him in the past. State BJP chief Ravindra Chavan hit back, saying if they started speaking against him, it would create trouble for the NCP chief. On Monday, it was Fadnavis’s turn to respond to the criticism. “The political campaign in Pune is heating up, with members from both sides speaking against each other. I just want to say if we go back in the past to speak about Pune’s development, some people will be in trouble as they will struggle to list out what they did for the city,” he said. Citing the example of the Pune Metro project, he said before BJP won the PMC election in 2017, the party (NCP) that earlier governed the local body only made an announcement about it but it never took off. “It was only after BJP started governing in 2017 that the project gained momentum,” Fadnavis said.



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Sensex retreats, rupee slides on fresh tariff threat


Sensex retreats, rupee slides on fresh tariff threat

NEW DELHI/ MUMBAI: Indian stock market indices were in the red on Monday, while the rupee extended its weakness against the US dollar, amid concerns over American President Donald Trump’s fresh comments over tariffs.The bellwether BSE sensex closed 0.4% or 332 points lower at 85,440 points, while NSE closed 0.3% lower at 26,250. The sensex was dragged down by HDFC Bank, tech stocks and Reliance.The rupee weakened for the fourth straight session and closed 10 paise lower at 90.30 against the US dollar, as geopolitical uncertainty strengthened the greenback’s appeal. The Indian currency has lost 55 paise since Dec 30, 2025, when it closed at 89.75 a dollar.Most Asian markets, however, gained, while Wall Street’s main indices surged on Monday, with the blue-chip Dow hitting an all-time high due to soaring financial stocks, while energy firms rose after a US military strike that captured Venezuelan President Nicolas Maduro.Investors bet the move against Venezuela’s leadership would allow American firms access to the world’s largest oil reserves. S&P’s energy index gained 1.3%, with heavyweights Exxon Mobil and Chevron rising 1% and 4%, respectively. Defence-related stocks also advanced after Washington’s military action. Lockheed Martin rose 2.5% and General Dynamics climbed 2.8%. The broader aerospace and defence index gained 1.2% to hit an all-time high. The price of US crude jumped 1.4% to $58.1 a barrel with brent rising 1.2% to $61.5 a barrel.



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Track asset quality closely, RBI tells NBFC chiefs again


Track asset quality closely, RBI tells NBFC chiefs again

MUMBAI: Reserve Bank of India on Monday warned non-banking financial companies in Mumbai to tighten underwriting and monitor risks closely, marking the third caution in eight days.The RBI met managing directors and CEOs of select NBFCs, including govt NBFCs, housing finance companies and microfinance institutions. The governor said while NBFCs play a key role in credit transmission, they must maintain sound underwriting standards, closely track asset quality, follow customer-centric and ethical practices, lend responsibly, and ensure prompt grievance redressal to preserve confidence and support orderly growth.The meeting underlined risks flagged earlier in the Trend and Progress of Banking report and the Financial Stability Report. The Financial Stability Report released on Dec 31, had warned that funding dependence remains a core vulnerability. “NBFCs remain heavily dependent on bank borrowings, creating contagion risks between the two sectors,” the report said. Concentration risk has also risen, with banks acquiring nearly 80% of securitised assets from a limited set of NBFCs, creating “correlated risk,” where stress at a few large originators could affect multiple banks.Asset quality indicators show mixed signals with segments like microfinance still showing signs of stress. Rapid growth in fintech-led unsecured lending has also drawn scrutiny. “Fintech firms have seen rapid growth in unsecured personal loans. There is higher impairment observed in small-ticket loans (up to Rs 50,000) and among borrowers with loans from multiple lenders,” the report said. It added that impairments were relatively higher in small-ticket loans and among borrowers with unsecured loans from five or more lenders.



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Apax Partners picks up minority stake in iD Fresh Food


Apax Partners picks up minority stake in iD Fresh Food

MUMBAI: London-based private equity (PE) firm Apax Partners has picked up an over 35% minority stake in iD Fresh Food in a deal pegged at more than Rs 1,500 crore, said people aware of the matter. As part of the transaction, Apax Partners has acquired some stakes from the company’s existing shareholders Premji Invest and TPG NewQuest, giving them partial exits. ID Fresh Food and Apax Partners did not disclose the financial specifics and contour of the deal. PE investors are betting on the local food and beverages space amid a growing consumer market. Helped by higher disposable incomes and a wider exposure to global trends, Indians are experimenting with new formats, brands and seeking better choices. A young population and rising digital adoption have also changed the way people consume things. Last month, US-based L Catterton bought a minority stake in Haldiram Snacks Food while General Atlantic is set to take a bite of Balaji Wafers. Bengaluru-based iD Fresh Food makes idli, dosa batter and a range of other items such as Indian flatbreads and value-added dairy products, operating in the convenient foods space, a category that has been finding traction among consumers. With Apax Partners on board, the company will step up growth in India and Gulf markets, besides foraying into new regions. “iD Fresh sits at the intersection of several powerful, long-term trends in India—rising incomes, rapid urbanisation, and consumers’ desire for convenient yet fresh, clean label food at home. The company has delivered strong, consistent growth while scaling profitability,” said Rohan Haldea, partner at Apax in a statement on Monday.



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MI Cape Town Playing XI vs Joburg Super Kings- SA20 2025-26, Match 15


MI Cape Town will go head-to-head against the Joburg Super Kings in the fifteenth match of the SA20. This article provides details about MI Cape Town’s Playing 11 vs Joburg Super Kings for the fifteenth match of the tournament.

MI Cape Town Playing XI vs Joburg Super Kings- SA20 2025-26, Match 15

Openers: Ryan Rickelton, Rassie van der Dussen

MI Cape Town, the only team that is yet to win a game in the ongoing season of the SA20, would aim to clinch it when they take on the Joburg Super Kings in their own backyard at a crucial juncture in the tournament.

It has been a mix of so near yet so far on a few occasions and a below-par effort with the bat in some games, including the last one, where the defending champions were bowled out for 88 runs against the Parl Royals.

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The Rashid Khan-led side would hope for a better performance from its players in their respective disciplines.

The onus will be on the opening pair of Ryan Rickelton and Rassie van der Dussen to get the team off to a good start and lay a platform for the incoming batters to capitalize on.

Middle-order batsmen and all-rounders: Reeza Hendricks, Nicholas Pooran (wk), Jason Smith, George Linde, Corbin Bosch, Tom Moores, Rashid Khan (c)

Although MI Cape Town comprises batters who can take the game away from the opposition, they haven’t been able to do so, which is one of the reasons why the team hasn’t succeeded in winning a game till now.

The presence of names like Reeza Hendricks and Nicholas Pooran in the middle order makes MI Cape Town a strong team on paper, but the middle order hasn’t clicked as of now, which has cost the team the games that they should have won.

Having said that, all isn’t gloomy for the home team as the likes of Rashi Khan and George Linde have shown that they could get the team over the line if they are provided with a platform to do so in the final couple of overs.

However, the top five batters will have to take the responsibility against JSK and score the bulk of the runs for the team in order to create pressure on the opposition bowlers.

Bowlers: Kagiso Rabada, Trent Boult

MICT’s bowling performance hasn’t been much promising either, with the bowlers going for 10-15 runs, then what could have been a chasable score in a few games, to not having enough runs to play in others.

The likes of experienced fast bowlers Trent Boult and Kagiso Rabada have been ineffective and haven’t been able to pick wickets in the first six overs, being on the expensive side as well.

The duo would hope to rectify the mistakes that they have made in the tournament and pick early wickets for the team to create pressure on the JSK batters.

If Boult and Rabada are able to strike with the new ball in the first six overs, it will make things easy for the spinners, who have found it difficult to control the flow of runs in the middle overs.



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150 Mumbai University Colleges Launch Biodiversity Mapping Drive Across Districts | Mumbai News


Mumbai: Around 150 colleges across seven districts and departments affiliated with Mumbai University have launched an extensive biodiversity survey. The mapping initiative started within their own campuses and will later extend to their neighbourhoods. The data collected will be used to create a community-driven biodiversity register for Mumbai and other districts and can provide various municipal authorities with real-time information.Besides simply counting the numbers of trees, the students will document detailed information on local flora, including their classification as herbs, shrubs, plants or trees, whether the species are rare or common, their height, habitat and also their overall health. More than 800 students are already trained under the programme, supported by the British Council under its Climate Skills programme, and the HSBC.

Mumbai Headlines Today — Key Stories You Shouldn’t Miss.

The programme is being carried out under the guidance of Mumbai University Vice-Chancellor Ravindra Kulkarni and led by professor Aparna Phadke and co-facilitated by Indu George and Suhas Jejurikar with 21 master facilitators for the smooth implementation of the project. Under the programme, along with the 800 students, over 200 faculty members and representatives from 16 NGOs across seven districts are already trained by the university.Phadke told TOI that the selected students would be teamed up with local self-governments, NGOs and other stakeholders to initiate climate action in their geographical areas. The social actions can culminate into the creation and update of the public biodiversity register too, she said. “There are several projects being undertaken under this partnership and biodiversity mapping is one of them. A questionnaire seeking details on the flora was shared with all the participating students,” said Phadke. The questionnaire seeks information on the local and scientific names of the flora, its type, its habitat (whether fresh water, mangroves, saline, terrestrial or any other), its occurrence, if it is common or rare or very rare. The researchers have also sought details on whether the flora has any local deity importance, or if it is sacred or heritage, along with the tree’s health (good, bad, moderate or infested with pests and fungi) and whether the tree’s origin is native, exotic or invasive.Phadke said that the tree census is not done comprehensively and therefore, such information can help build databases for the local municipal authorities too. “With colleges spread across the city, this mapping exercise can help us to know the entire city’s profile with adequate information on rare and endangered species too,” she added. The British Council programme aims to address various challenges faced by India concerning climate change vulnerabilities by engaging higher education institutions. Mumbai University is one of the three HEIs which were selected as partners.



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Cong: Need a Mumbai mayor devoted to Constitution, not any religion or region | Mumbai News


Mumbai: Joining the political dispute over the next Mumbai mayor, state Congress president Harshwardhan Sapkal on Monday said the post should be held by an individual who is committed to working in accordance with the Constitution, irrespective of their religion, region or caste.BJP and Shiv Sena (UBT)-MNS have been at loggerheads over the next mayor’s religious and cultural identity. After Shiv Sena (UBT) asserted that it will win the BMC election and a Marathi mayor will be chosen, BJP claimed that the post will go to its Hindu and Marathi member. AICC secretary Sachin Sawant, while addressing CM Devendra Fadnavis on social media, asked why Mumbai’s mayor can’t be a dalit or a marginalised person.

Mumbai Headlines Today — Key Stories You Shouldn’t Miss.

Sapkal, responding to BJP taking credit for major infrastructure projects in the city, said those works were originally conceptualised during his party’s tenure. Sapkal questioned BJP over the status of the Chhatrapati Shivaji Maharaj memorial in the sea. He said the ground-breaking ceremony was performed by PM Narendra Modi in 2016 but there was no sign of the project being completed soon, and demanded a reply from the party. Sapkal also alleged the use of money to make candidates withdraw their nominations in many wards and said NOTA should be an option given to voters instead of declaring a candidate an unopposed winner. “The chief minister and both deputy chief ministers wrapped up democracy, and a game of money was underway. Even before polling, horse-trading began, and BJP-led Mahayuti’s hunger for power reached the point of swallowing democracy. In municipal elections, the farce of ‘Baap bada na bhaiya, sabse bada rupaiya’ was played out openly.” He alleged that preventing opposition candidates from filing nominations, issuing threats, using pressure tactics, and using police and the administration was underway, while Election Commission stood by as a mute spectator. Congress alleged it had written to the state election commission demanding an inquiry and action against assembly Speaker Rahul Narwekar over alleged threats to the opposition, but the poll watchdog had sought evidence. Sapkal said CCTV footage from the spot should be examined and action should be taken after recording complaints from those who were obstructed and threatened.



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Copper climbs to $13,000/ton after strike at mine in Chile


Copper climbs to $13,000/ton after strike at mine in Chile

Copper touched $13,000 a ton for the first time, extending last year’s scorching rally as mine outages and trade dislocations fuel concerns over supplies of the key industrial metal. Benchmark futures rallied as much as 4.3% in London. A strike at the Mantoverde mine in Chile was just the latest supply disruption at a time of expanding global demand for the metal used in everything from data centres to car batteries. At the same time, the threat of US import tariffs on the metal has led traders to ramp up shipments to American shores in recent weeks, reducing supplies elsewhere.

Copper climbs to $13,000/ton after strike at mine in Chile

Copper, a metal that’s vital for energy transition, surged 42% in 2025, its best annual gain since 2009. A deadly accident at the world’s second-largest copper mine in Indonesia and an underground flood in the Democratic Republic of Congo were some of the supply disruptions that propelled prices to successive records. Meanwhile, US President Donald Trump’s plan to revisit the question of tariffs on primary copper in 2026 has revived the arbitrage trade that rocked the market earlier last year. The US holds roughly half of global inventories, but only accounts for less than 10% of global demand, according to UBS. That means there is a risk of lower supplies elsewhere. “Overall supply shortfalls, coupled with regional dislocation caused by US tariffs, are propelling copper,” China Securities Co. analysts, led by Wang Jiechao wrote in a note. The global copper market will see a shortage of more than 100,000 tons in 2026,” they forecasted.Three-month copper rose 4% to $12,963.50 a ton on the London Metal Exchange on Monday afternoon local time. This is a BLOOMBERG story



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Credit growth outpaces deposits for large banks


Credit growth outpaces deposits for large banks

MUMBAI: Large banks show a continued trend of credit growth outpacing deposit mobilisation in the quarter ended Dec 31, 2025, with most lenders reporting advances rising faster than liabilities, and shifting deposit mix in favour of term deposits over current and savings accounts (CASA).India’s largest private bank HDFC Bank reported gross advances of around Rs 28.5 lakh crore at the end of Q3 FY26, up 11.9% from the year-ago period, and period-end deposits of about Rs 28.6 lakh crore, up 11.5% year-on-year, despite the bank’s stated objective of reducing its credit to deposits ratio.

Credit growth outpaces deposits for large banks

Of the total deposits, current and savings account deposits stood near Rs 9.6 lakh crore, growing 10.1% while time deposits (Rs 19 lakh crore) grew 12.3% highlighting the continuing shift from low cost to high cost products. The higher share of term deposits reduces margins for banks because of the higher costs plus the fact that in a falling rate regime term deposits take 2-3 years to reprice.Bank of Baroda’s provisional update showed global advances at Rs 13.4 lakh crore, a rise of 14.6% from Dec 31, 2024, and global deposits at Rs 15.5 lakh crore, up 10.3% year-on-year. Domestic advances were near Rs 10.7 lakh crore (up 13.5%) and domestic deposits about Rs. 13.1 lakh crore up 11.1%.For Punjab National Bank Global advances rose 10.2% to Rs 11.9 lakh crore while global deposits rose 8.3% to Rs 16 lakh crore. The credit to deposit ratio increased to 74.2% from 72.6% a year ago. At Union Bank of India, global gross advances reached Rs. 10.2 lakh crore in Q3 FY26, up 7.1% from the year-ago quarter, while global deposits stood at Rs 12.2 lakh crore, up 3.4% y-o-y but down about 1% sequentially from the Sept 2025 quarter.



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Ruben Amorim’s sacking: Ratcliffe revolution fails to halt Manchester United decline | Football News


Ruben Amorim's sacking: Ratcliffe revolution fails to halt Manchester United decline
Luke Shaw of Manchester United battles for possession with Wilfried Gnonto of Leeds United during the Premier League match between Leeds United and Manchester United at Elland Road on January 04, 2026 in Leeds, England. (Photo/Getty Images)

MANCHESTER: Ruben Amorim’s sacking by Manchester United has exposed the dismal lack of progress since Jim Ratcliffe’s arrival as co-owner promised a new dawn.Amorim was the latest manager unable to turn the tide at Old Trafford, which has witnessed more than a decade of decline since Alex Ferguson retired in 2013.The veteran Scot stood down after winning the club’s 20th English league crown following two decades of domestic dominance gilded by European success.Since then United have not seriously competed to win the Premier League or Champions League despite a succession of big-name managers.Amorim, 40, is the first boss to be hired and axed since Ratcliffe took control of the club’s football operations after acquiring a minority stake in the Red Devils.The British billionaire’s arrival in February 2024 was greeted with glee by supporters desperate to see a new face at the helm after years of underachievement under the Glazer family, who still own a majority stake.Yet hopes that the boyhood United fan could make United competitive again at home and in Europe have so far been dashed.– No ‘knee-jerk reactions’ –Just a few months ago, Ratcliffe, 73, said Amorim had three years to prove himself despite a tough start at United, adding that the club would not be drawn into “knee-jerk reactions”.But United have continued to drift, winning just one of their past five home games in the league.An apparent rift with the club’s director of football Jason Wilcox over tactics and transfer targets appears to have increased the pressure on Amorim, who was dismissed on Monday after 14 months in charge.Wilcox moved into his current position in June last year, taking over the main role held by Dan Ashworth, who lasted just five months at the club in an early embarrassment for the new regime. Ratcliffe has so far done little to suggest he can deliver on his desire to restore a club he admitted “has become mediocre” to former glories.The club’s ambition to win a 21st league title by the time of their 150th anniversary in 2028 looks less realistic with every passing season.United finished the 2024/25 campaign in 15th spot — the club’s lowest top-flight finish since they were relegated in 1974 — and missed out on European football for only the second time in 35 years.Despite a marginal improvement this season, Amorim departed with his side 17 points adrift of leaders Arsenal after 20 games.The club are still within striking distance of the top four but cannot afford to lose further ground.– Transfer flops –Ratcliffe has been publicly scathing of some of United’s transfer dealings prior to his arrival but the jury is still out on incomings on his watch.Joshua Zirkzee and Manuel Ugarte have largely been peripheral figures since being signed under the managerial regime of Erik ten Hag, Amorim’s predecessor.Amorim was armed with an expensive new front three of Benjamin Sesko, Matheus Cunha and Bryan Mbeumo in the recent summer transfer window but they have scored just 12 Premier League goals between them so far.United’s ability to spend their way out of their troubles is beginning to be squeezed by financial sustainability rules.The club’s desperate need to return to the lucrative Champions League will have been a factor in their decision to axe Amorim, who arrived in November 2024 feted as one of the game’s leading young managerial talents.To compound matters for United fans starved of success, Ratcliffe is asking them to pay more to attend games.At the same time, he has been criticised for swingeing job cuts as he tries to restore order to the club’s finances.Last year United set out plans for a 100,000-seater stadium to replace their historic but creaking Old Trafford ground.Ratcliffe said the club planned to have the “world’s greatest football stadium”, with hopes it could be finished within five years, though there is major uncertainty over the timescale.Plans on and off the pitch are undoubtedly ambitious, but they are a long way from being realised.



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