Banker Nirmal Jain becomes stock market's newest billionaire 
Nirmal Jain, the Chairman of financial services group India Infoline (IIFL) Holdings, has become a billionaire, according to Bloomberg. The Mumbai banker's $20-billion private wealth management unit became India's biggest by assets and helped him become a billionaire. His firm's share price more than doubled in past 12 months, taking his fortune to $1 billion for first time this week. 