Why property insurance matters this summer; CDSL shares fall 4% after Q4 revenue; Tech & more

Shares of Central Depository Services Ltd. (CDSL) fell as much as 4% on Monday, May 5, in reaction to its quarterly results for the January-March period. The results were reported over the weekend and saw key parameters decline yet again on a sequential basis.

Compared to the December quarter, CDSL’s revenue declined by 19.3% to ₹224.4 crore. The decline in revenue was mainly due to the underperformance of its core depository activity business. The depository services business saw a decline of 18% on a quarter-on-quarter basis.

CDSL’s net profit fell 23% from last year to ₹100 crore. The decline in profitability was due to lower revenue and despite a higher other income compared to the December quarter.

Shares of State Bank of India Ltd. will react to its March quarter earnings on Monday, May 5. The country’s largest lender posted a slightly soft quarter, as credit growth moderated to 12.4% year-on-year due to pre-payments in the corporate loan book. Higher operating expenses and provisions led to an earnings miss, with profit at ₹18,600 crore.

SBI expects credit growth of 12–13% in FY26, while margins may contract gradually due to recent sharp rate cuts, albeit cushioned by a higher share of MCLR-linked loans. Asset quality is expected to remain healthy, as will credit costs.

The India Meteorological Department (IMD) issued weather alerts for various regions across India on Monday, May 5, warning of heavy rainfall, thunderstorms, and strong winds. The forecast predicts significant weather disturbances affecting multiple areas, with a multi-hazard warning in place.

Weather Conditions Across India

Gujarat and Southwest Rajasthan:

Heavy to very heavy rainfall is expected, accompanied by thunderstorms, lightning, and squally/gusty winds.Northwest India: Rainfall, thunderstorms, lightning, and hailstorms are forecasted to continue, along with gusty winds.Eastcentral and Eastern India: A spell of rainfall and thunderstorms is expected over Odisha, Gangetic West Bengal, and nearby regions.

OpenAI has acknowledged a significant misstep in its April 25 update to ChatGPT’s GPT-4o model, which led to responses that were overly agreeable and, in some cases, reinforced users’ negative emotions or impulsive behaviour. The company began rolling back the update just three days later, on April 28, after identifying safety concerns related to the model’s tone and behaviour.

“The model noticeably became more sycophantic,” OpenAI admitted in a detailed post. “It aimed to please the user, not just as flattery, but also as validating doubts, fueling anger, urging impulsive actions, or reinforcing negative emotions in ways that were not intended.”

The South Texas home of Elon Musk’s SpaceX rocket company is now an official city with a galactic name: Starbase.

A vote Saturday to formally organise Starbase as a city was approved by a lopsided margin among the small group of voters who live there and are mostly Musk’s employees at SpaceX. With all the votes in, the tally was 212 in favour to 6 against, according to results published online by the Cameron County Elections Department.

Motorola is betting big on India’s growing preference for premium smartphones, as it targets a 10% market share and a place among the country’s top three mobile brands by 2026.T M Narasimhan, Managing Director of the Mobile Business Group at Motorola India, told CNBC-TV18 that the market is showing healthy signs of growth despite global headwinds, and the company is aligning itself with that shift.

After months of tense backroom negotiations, the US has secured the minerals deal with Ukraine giving it preferred access to the war-torn country’s critical minerals. Here’s a look at key takeaways of the deal and why Trump is eyeing Ukraine’s minerals.

In a country where a medical emergency or accident can wipe out years of savings, insurance is no longer just a piece of paper—it’s your financial shield. Yet, most Indians still underestimate its importance.With rising health risks, road accidents, and natural calamities, experts warn that being uninsured can leave individuals and families dangerously exposed.

“Insurance is an essential part of comprehensive financial planning,” says Vivek Chaturvedi, CMO and Head of Direct Sales at Go Digit General Insurance.But India’s non-life insurance penetration is still below 1%—much lower than in many emerging and developed countries.The main reasons? Lack of awareness and limited accessibility.As a result, many Indians face financial disaster when unexpected events strike.

Fixed deposits are a popular investment option that not only helps save money but also offers attractive interest rates. Investors with a low risk appetite often prefer FDs due to the assured returns.According to Paisabazaar, FD interest rates at scheduled banks currently fluctuate between 2.5% and 9% per annum for regular depositors with tenures ranging from 7 days to 10 years. Recently, several banks, including IndusInd Bank, Punjab National Bank and Kotak Mahindra Bank, among others, have revised their FD interest rates.The FD interest rate revisions come after the recent repo rate cut by the Reserve Bank of India (RBI). Here’s a look at the revised FD rates from these banks.

As temperatures soar across the country, the risk to homes, offices, and factories climb. While most people worry about heatwaves and health, few realise the toll extreme heat can take on buildings.Experts warn that property insurance has never been more crucial.“Climate change doesn’t only impact outdoor environments — it also significantly affects indoor spaces,” says Amitabh Dewan, Head – Large Risks, Policybazaar for Business.

We’ll see you tomorrow with another 11:11