Mumbai/New Delhi, December 18, 2025
India’s corporate and financial sectors saw significant developments this week, headlined by Tata Consultancy Services (TCS) unveiling its bold AI ambitions, alongside key updates in banking, regulatory settlements, stock market listings, and infrastructure projects.
TCS Discloses $1.5 Billion Annualized AI Revenue, Eyes Global Leadership
India’s largest IT services firm, Tata Consultancy Services (TCS), has set its sights on becoming the “world’s largest AI-led technology services company.” During the TCS Analyst Day 2025 event on December 17, CEO K Krithivasan announced that the company’s AI-related services have generated approximately $1.5 billion in annualized revenue – a first-time disclosure for the Mumbai-based giant.
Krithivasan emphasized an “AI First” culture, where TCS evaluates if AI can enhance every project, even if it risks cannibalizing existing revenue streams. The firm has completed over 5,500 AI projects, with strong adoption: 54 of its top 60 clients and 85% of clients exceeding $20 million in billing utilize TCS for AI initiatives. This positions TCS strongly in the rapidly evolving AI landscape, backed by investments in data centers and full-stack capabilities from chip design to AI agents.
Government Extends SBI Managing Director Ashwini Kumar Tewari’s Tenure
In banking news, the Indian government has extended the tenure of State Bank of India (SBI) Managing Director Ashwini Kumar Tewari for another two years, until December 31, 2027. This marks the second consecutive extension for Tewari, whose current term was set to end on January 27, 2026.
Originally appointed in January 2021 for three years, Tewari oversees key areas including corporate banking and subsidiaries. The reappointment ensures leadership continuity at India’s largest public sector bank amid ongoing digital transformation and economic growth initiatives.
NSDL Settles Regulatory Lapses with SEBI for Rs 15.57 Crore
National Securities Depository Ltd (NSDL) has resolved adjudication proceedings with the Securities and Exchange Board of India (SEBI) by paying Rs 15.57 crore. The settlement addresses operational lapses identified during SEBI’s FY 2023-24 inspection, including delays in freezing/unfreezing accounts, outsourcing agreement issues, and demat account compliance shortcomings. NSDL settled without admitting or denying the allegations.
Mixed Debut for Two IPOs on Stock Exchanges
The stock market witnessed listings of two companies on December 17. NephroCare Health Services, a dialysis care provider, debuted with a solid premium, listing at around Rs 491 on BSE (up ~7% from its Rs 460 issue price) after raising Rs 871 crore.
In contrast, hospital chain Park Medi World saw a muted response, opening at Rs 155.60 on BSE (down ~4% from Rs 162 issue price) despite strong subscription.
PM MITRA Parks Advance with Rs 5,567 Crore DPRs Finalized
Boosting India’s textile sector, Detailed Project Reports (DPRs) worth approximately Rs 5,567 crore have been finalized for three greenfield PM Mega Integrated Textile Region and Apparel (MITRA) Parks in Lucknow (Uttar Pradesh, 1,000 acres), Kalaburagi (Karnataka, 1,000 acres), and Navsari (Gujarat, 1,142 acres). These parks, developed under PPP mode, aim to create integrated textile hubs supporting the full value chain.
Textiles Ministry Additional Secretary Rohit Kansal highlighted the initiative during a stakeholder consultation, inviting master developers to drive this transformational project.
