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In a filing today before the C harity Commissioner, Mumbai, seen by businessline, Mistry alleged grave illegalities in the administration of the Trust by the Board of Trustees which now comprises of Noel Tata (Chairman), Venu Srinivasan (Vice Chairman), Vijay Singh, Darius Khambatta, Bhaskar Bhat and Neville Tata. The last two were appointed in place of Mehli Mistry and Pramit Jhaveri, who stepped down in February.

Objecting to the Change Report filed by the Trust after his exit and the entry of new trustees, Mistry has contested his non-renewal as a trustee, arguing that it violates a 2024 resolution for mutual perpetual reappointments among trustess of SDTT and the other major trust, Sir Ratan Tata Trust, reports Raghuvir Srinivasan.

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India’s markets regulator, Securities and Exchange Board ⁠of India (SEBI), will allow companies ​to cut the size of IPOs by as ⁠much as 50% without filing additional onerous paperwork as the Iran war has made it hard to follow through with initial plans, according to an email seen ‌by Reuters.

Current rules stipulate that initial public offering documents need to be refiled if the planned fund-raising amount increases or decreases ‌by 20% or more.

Firms will now only have to ‌submit ⁠their revised offer size to SEBI for approval and these reviews will be fast-tracked, the regulator said in an email sent to the Association of Investment Bankers of India.

The relief will apply to issuers ​planning to raise fresh funds ‌before September 30 and will only be granted if there is no change in the main object of the issue.

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Markets surged on Wednesday, delivering their strongest session in weeks, as geopolitical optimism, falling crude oil prices, and buoyant global cues triggered broad-based buying that left virtually no sector untouched.

The BSE Sensex closed at 78,111.24, gaining 1,263.67 points or 1.64 per cent, while the Nifty 50 settled at 24,231.30, up 388.65 points or 1.63 per cent — its highest close since March 10, 2026. From its recent swing low of 22,182, the Nifty has clawed back over 2,100 points in just eight trading sessions. Volumes on NSE’s cash market rose 12 per cent from the previous session, underlining the conviction behind the move.

The single biggest catalyst was US President Donald Trump signalling that Washington and Tehran may be heading back to the negotiating table, with talks potentially resuming in Pakistan within days, describing the conflict as “close to being over.”, writes Anupama Ghosh.

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India’s merchandise exports grew by over 4 per cent in the 2025-26 fiscal year, though the overall trade deficit widened by more than 26 per cent for the full year, according to data released by the Commerce Ministry on Wednesday.

Despite the annual expansion of the gap, the trade deficit narrowed in March as both exports and imports saw a synchronized dip during the final month of the fiscal year.

Commerce Secretary Rajesh Agrawal said India’s exports are doing well despite challenges. The country’s merchandise exports during April-March 2025-26 went up 1 per cent to $441.78 billion from USD 437.7 billion. Imports also increased to $774.98 billion during the period from $721.2 billion in 2024-25. Services exports are estimated at $418.31 billion in 2025-26, showing a growth of around 8 per cent, reports Shishir Sinha.

Stay updated on: India’s energy sector and fuel pricing, judicial policy and AI regulation, US-India trade and pharmaceutical updates, and humanitarian developments affecting Tamil Nadu fishermen.

The Finance Ministry has announced a complete customs duty waiver on 40 petrochemical products, effective through June 30, 2026, in a strategic move to insulate domestic manufacturers from supply chain disruptions and price volatility triggered by the ongoing West Asia conflict.

These products serve as essential raw materials across various industrial sectors, and the intervention aims to stabilise production costs amid regional instability. According to official estimates, this tax break is expected to result in a revenue loss of approximately Rs 1,800 crore to the national exchequer over the three-month period.

The Ministry clarified that the decision was prompted by the escalating West Asia conflict and the resulting turbulence in global supply chains. By removing these trade barriers, the government aims to shield the domestic market from external shocks.

This is third measure from Central Board of Indirect Taxes and Customs. First, last week. It slashed excise duty on petrol and diesel by Rs 10 a litre as it looked to shield consumers from the impact of rising global crude prices amid the ongoing war, also imposed an export duty of Rs 21.50 per litre on diesel and Rs 29.50 per litre on Aviation Turbine Fuel (ATF). Excise duty on petrol has been slashed to Rs 3 a litre, while on diesel it is zero currently.

GE faces penalty action for missing multiple Tejas engine deadlines

With GE Aerospace missing multiple deadlines for supply of F404-IN20 engines for powering Tejas LCA Mk1A, penalty against the US-based company outlined in the August 2021 contract with the Hindustan Aeronautics Limited will be automatically invoked for breach of delivery timeline per engine. Of the overall 99 engines contracted for a cost of $716 million, GE has supplied 5 engines and the 6th is on way to India.

The delivery was supposed to start in 2023 but it got delayed for about two years and the first engine was supplied only in March 2025.

A subsequent contract was also inked with GE on November 7, 2025, for approximately $ 1 billion, to support 97 more LCA Mk1A jets, and the deliveries are supposed to take place from 2027 and end in 2032.

As per the ‘pessimistic assessment,’ GE has promised to supply 20 of 99 F404-IN20 engines towards December, this year, as they claim to have overcome global supply chain issues, top HAL sources revealed. The best case scenario, however, is for shipment of 25 engines by the end of the year, they added.

Hormuz crisis chokes shipping, sends freight rates soaring fivefold

More than a month into the West Asia crisis triggered by the US–Iran conflict, shipping and trade remain in deep turmoil, marked by extreme volatility and uncertainty.

The disruption of the Strait of Hormuz — a critical artery for global energy flows — has severely impacted maritime traffic, pushing freight rates up nearly fivefold, inflating war-risk insurance premiums by 10X, and imposition of emergency surcharges across key trade lanes.

Prior to the crisis, around 150 vessels transited the strait daily; that number has now dropped to just four or five. Similarly, deliveries are now arriving two to three weeks behind schedule, as vessels reroute via longer passages such as the Cape of Good Hope, increasing both transit time and costs.

FMCG firms likely to hike prices by 3-4% in June quarter due to raw material cost pressures: Nuvama report

FMCG companies are likely to hike prices by 3-4 per cent in the June quarter to mitigate raw material cost pressures, according to a report by Nuvama Institutional Equities. It added that in categories such as paints, edible oils, soaps and detergents, it could be even higher.

“In our view, companies typically maintain 30–45 days of raw material and finished goods inventory. Hence, we forecast price hikes are likely to be in Q1 FY27. Higher crude oil prices and rupee depreciation have raised input cost pressures, mainly through higher packaging costs, which comprise about 20 per cent of costs. We forecast at least 3–4 per cent price hikes in Q1 FY27 if current raw material inflation persists. Paints, edible oil, soaps and detergents could see even higher hikes,” Abneesh Roy, Executive Director & Head of Research Committee, Nuvama Institutional Equities, stated in the report.

He added that to manage rising input costs, FMCG companies are recalibrating pricing strategies and packaging structures through grammage reduction in smaller packs to maintain affordability and price hikes in larger packs, where consumer sensitivity is lower.

Oracle has reportedly begun a new round of layoffs affecting about 30,000 employees across the United States, India, and other regions, with former employees suggesting that around 12,000 of those cuts may be in India alone.

According to multiple netizens, termination emails were sent as early as 6 a.m. on Tuesday, catching employees off guard with no prior communication from managers or human resources.

The job cuts appear to span several business units and geographies, impacting teams such as Revenue and Health Sciences (RHS), SaaS and Virtual Operations Services (SVOS), and NetSuite’s India Development. Some groups experienced workforce reductions of 30 per cent or more.

GST collection exceeds ₹2 lakh crore in March

For the first time after rate rationalisation, collection from Goods & Services Tax (GST) in March crossed ₹2 lakh crore, data on GST portal showed. Also, this number is achieved without compensation cess. However, experts anticipate cautious trajectory in April.

GST collection in March is related with goods consumed and services availed in February. According to GST portal, collection was over ₹2 lakh crore as against ₹1.83 lakh crore of March 2025. This shows a growth of around 9 per cent. However, growth from domestic sources was just 6 per cent while that from import was around 18 per cent. For full fiscal, the growth rate in gross collection was 8.3 per cent.

TN Assembly polls: BJP, Congress delay candidate lists as regional heavyweights gain early edge

With just five days left for the close of nominations on April 6 for the Tamil Nadu Assembly elections scheduled on April 23, both the national parties — the Bharatiya Janata Party (BJP) and the Indian National Congress (Congress) — are yet to announce their candidates, reflecting internal pressures and strategic dilemmas within the two outfits. In between the five days, three days are holidays - Good Friday, Saturday and Sunday.

In contrast, regional players, including the two heavyweights — the Dravida Munnetra Kazhagam (DMK) and the All India Anna Dravida Munnetra Kazhagam (AIADMK) — along with the new entrant, Tamilaga Vettri Kazhagam, had announced their candidate lists last week. Several key leaders, including DMK president MK Stalin and TVK founder C Joseph Vijay, have already filed their nominations.

Census 2027

The first phase of Census 2027 began on April 1, in what will be the largest such exercise in the world and it will be conducted digitally for the first time.

It is India’s 16th Census and eighth after Independence. For the first time, the option of self-enumeration will also be available.

The reference date of Census 2027 is 00:00 hours of March 1, 2027, (for UT of Ladakh and snow-bound non-synchronous areas of UT of Jammu and Kashmir and States of Uttarakhand and Himachal Pradesh reference date is 00:00 hours of 1st October, 2026).

Census 2027 will be conducted in two phases - Phase I-House Listing and Housing Census popularly known as HLO during six months from April to September, 2026, in a period of 30 days as per the convenience of the State/UT governments along with option of Self-enumeration of 15 days period just before the 30 days period of house-to-house houselisting work.

The move follows representations from stakeholders including banks, capital market intermediaries, and industry associations.

The RBI has also issued clarifications on acquisition finance, expanding it to include mergers and amalgamations, while restricting it to cases involving acquisition of control in non-financial target companies.

You can read more here

Moving on.

India’s IT sector is expected to see a steady but largely ordinary fourth quarter for FY26.

Analysts point to selective demand, healthy deal pipelines, and early opportunities in AI-led projects supporting modest growth.

However, elongated decision-making cycles and weak discretionary spending continue to limit upside.

Industry experts say demand remains stable but not broad-based, with growth likely to stay in the mid-single-digit range as recovery continues.

Details here

Next.

In the electric mobility space, Switch Mobility has overtaken Tata Motors and Olectra Greentech to become India’s largest electric bus maker in FY26.

Backed by the Hinduja Group, the company recorded a 177 per cent surge in volumes, far ahead of the market’s 44 per cent growth.

Switch Mobility clocked 1,144 units in FY26, with its market share rising to 26.4 per cent, driven largely by strong execution in large state transport tenders.

More on this story

And finally.

The new Income-tax Act, 2025, set to come into effect from April 1, 2026, marks a major overhaul of India’s tax framework.

The changes focus on simplifying compliance, improving transparency, and rationalising exemptions for salaried taxpayers.

Among the key updates — expanded House Rent Allowance benefits, with more cities now eligible for the higher 50 per cent exemption limit.

There is also a sharp increase in children’s education allowance, rising from Rs 100 per child per month to Rs 3,000.

Meal-related tax exemptions have also been raised significantly, from Rs 50 per meal to Rs 200.

Other changes include updates to how perks are taxed, company car usage, and provisions for overseas medical treatment.

Full explainer here

Markets ended the final session of FY2026 sharply lower on Monday, with the Nifty 50 falling 488 points or 2.14 per cent — marking a loss of 5.05 per cent for the full financial year — as the US-Iran conflict entered its fifth week without any credible pathway to resolution, and crude oil holding above $100 a barrel.

It was the worst monthly decline for equities in six years while the Nifty50 ended nearly at a one-year low and the Sensex at a 2-year low. The Sensex fell 1,636 points. India VIX surged to an intraday high of 28.79 before settling near 30.

The Nifty opened gap-down at 22,549, briefly touched 22,714, then slid to a session low of 22,283. This was the eighth session in the March expiry series where the index closed with losses exceeding 1 per cent.

India 10-year bond yield tops 7%, sees biggest monthly surge in 9 years

Indian government bonds slumped on Monday, closing out a rough financial year, with the 10-year ​benchmark bond yield posting its biggest monthly spike in nine years, on ‌bets that a protracted Middle East war would upend the ​government’s fiscal plans and as the rupee plunged past ⁠95 per dollar.

The 10-year bond yield breached the 7% level for the first time since July 2024 and ended 9 basis points higher ‌at 7.0345%, its highest since May 2024. The yield jumped 37 bps in March, the biggest such move since ‌February 2017.

The rupee plunged to a low of 95.21 ‌against ⁠the dollar on Monday, while stocks also tanked.

Bonds were caught ⁠in a sharp selloff across the country’s markets that included surging swap rates as investors weighed the risks of the Middle East war escalating further, which ​could hurt growth and stoke inflation ‌for net energy importer India.

Fertilizer sales spike in March, surpassing monthly estimates and previous year totals

Farmers appear to be stockpiling fertilizers as government sales data for March shows a sharp spike in demand. By March 23, the volume of crop nutrients purchased had already overtaken the estimated demand for the full month and surpassed sales from the same period last year.

As much as 20.21 lt of urea was sold during February 28-March 23, as against 16.2 lt in the whole of March 2025 and against estimated demand of 14.96 lt for the month.

Similarly, 4.78 lt of DAP was sold between February 28 and March 23, against an estimated demand of 2.43 lt for the whole of March 2026, while 1.58 lt of MOP was sold against 1.8 lt of estimated demand, and 7.22 lt of complex was sold against 7.05 lt of estimated demand, reports Prabhudatta Mishra.

Committee of Creditors to record reasons for selection of successful resolution applicant under IBC

The amended Insolvency and Bankruptcy Code (IBC) framework sharpens transparency norms by requiring the Committee of Creditors (CoC) to record detailed reasons for selecting the successful resolution applicant, a move Finance Minister Nirmala Sitharaman said would strengthen accountability in the resolution process and reduce litigation over bid selection.

The provision forms part of the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, passed by the Lok Sabha on Monday after being reworked in line with the recommendations of a Select Committee. Replying to the debate, Sitharaman said the government had accepted all 11 recommendations of the committee and added an additional transparency clause of its own, reports Shishir Sinha.

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The Supreme Court has held that Tiger Global’s capital gains arising from its 2018 stake sale in Flipkart to Walmart Inc. are taxable under domestic law in a setback for the US investment firm. 

The Apex court overturned a Delhi High Court ruling that allowed Tiger Global to claim exemptions under the India-Mauritius tax treaty. The decision is a win for local tax authorities, who argued that Tiger Global used its Mauritius entities to avoid paying taxes.

The ruling can set a precedent for how India applies tax treaties to offshore exits, potentially increasing uncertainty for global investors seeking clarity on capital gains.

Tiger Global first invested in Flipkart in 2009 with an initial $9 million. Over the following years, it steadily increased its exposure to about $1 billion, building a stake of roughly 20% in the company. In 2017, Tiger began monetising the investment by selling part of its holding to SoftBank Group Corp.

December trade deficit widens as imports surge 8.8%, export growth modest at 1.86%

India’s goods trade deficit widened significantly in December 2025 to $25.04 billion from $20.63 billion in previous December as exports increased 1.86 per cent (year-on-year) to $38.51 billion while imports grew at a higher 8.8 per cent to $63.55 billion, per data released by the Commerce Department.

Exports to the US declined a marginal 1.83 per cent in December 2025 to $6.89 billion amid the 50 per cent tariffs applied by Washington on most Indian exports in August-end. “In the US we are still holding on as there is more focus on areas where tariffs are low. Where tariffs are more, exporters are showing more resilience and holding on to the supply chains,” Commerce Secretary Rajesh Agrawal said at a media briefing on Thursday.

On the proposed India-US bilateral trade agreement (BTA), the Secretary said the negotiations were on in a virtual mode and efforts were on to close gaps in the “remaining issues”.

SEBI weighs oversight of unlisted share market as focus shifts to disclosure gaps

The Securities and Exchange Board of India (SEBI) is examining whether it should step in to regulate the fast-growing unlisted share market, which currently operates largely outside its direct oversight, Chairman Tuhin Kanta Pandey said on Thursday.

Speaking on the sidelines of the Association of Investment Bankers of India’s (AIBI) annual convention, Pandey said SEBI is discussing the issue with the Ministry of Corporate Affairs to assess whether the regulator has the legal authority to oversee companies that are not listed on stock exchanges, and if so, how far such regulation can extend. “SEBI first needs to examine whether it has the legal authority to regulate companies that are not listed on stock exchanges and how far such regulation can extend,” he said.

Mumbai civic polls heat up as Fadnavis, Thackeray brothers trade barbs

As polling took place in Mumbai on January 15, the political temperature rose sharply, with a fierce exchange of words between Maharashtra Chief Minister Devendra Fadnavis and the Thackeray brothers amid a tightly fought election to the Brihanmumbai Municipal Corporation (BMC).

Shiv Sena (UBT) chief Uddhav Thackeray appealed to Mumbai’s voters to turn out in large numbers, calling the civic polls an opportunity to unseat what he described as a corrupt BJP regime.Uddhav’s party, along with Raj Thackeray’s Maharashtra Navnirman Sena (MNS), also deployed so-called “Bhagwa Guards” in several constituencies to keep a watch on alleged dual voting.

State Election Commissioner Dinesh Waghmare said that after voting ended at 5:30pm, that the turnout so far is 46-50 per cent, which is higher than the figure for the 2017 civic polls.

The results of the Mumbai civic polls will be out on Friday, January 16.

Infosys reported a decline in profit for the December-ended quarter of FY26, with PAT falling 9.6% sequentially and 2.2% year-on-year (YoY) to Rs 6,654 crore. Despite the dip, the IT major raised its constant currency revenue growth guidance for FY26 to 3–3.5%, up from the 2–3% forecast issued in the previous quarter.

Revenue rose 8.9% YoY and 2.2% quarter-on-quarter to Rs 45,479 crore. In constant currency (CC) terms, revenue grew 1.7% YoY and 0.6% QoQ. Large deal momentum improved, with total contract value (TCV) reaching $4.8 billion during the quarter, including 57% net new deals, up from $3.1 billion in the September quarter.

PM Internship scheme falters as funds go unused

Data from Controller General of Accounts (CGA) showed as against the budget allocation of over Rs 11500 crore, the Ministry spent little over Rs 500 crore. The allocation for the full year has a 94 per cent share, or over Rs 10,800 crore, for the PM Internship Scheme. During FY25, budget allocation was revised to around Rs 1,078 crore from Rs 2,667 crore. The ministry had admitted before the Standing Committee that it was largely because the funds were surrendered under the PM Internship Scheme. CGA data showed actual expenditure was around Rs 680 crore only.

Maharashtra, Tamil Nadu top performers in Niti Aayog’s export preparedness index 2024

Maharashtra has topped the Niti Aayog’s Export Preparedness Index (2024) in the large States category followed by Tamil Nadu and Gujarat in the second and third places respectively. 

Uttarakhand, Jammu & Kashmir and Nagaland bagged the top three spots among small States, North East and Union Territories. The report was released by Niti Aayog CEO B V R Subrahmanyam on Wednesday.

EPI 2024 assesses the export capabilities (performance and readiness) and potential of Indian States and Union Territories covering the period FY2022-FY2024 and has been prepared with the support of Deloitte.

India steps up bunker construction along LoC after Operation Sindoor

 Following Operation Sindoor, the central government has intensified its focus on strengthening border infrastructure in Jammu and Kashmir.

In north Kashmir’s Uri sector, the government is constructing at least 500 new bunkers to protect civilians living along the Line of Control (LoC), officials said, as part of broader measures aimed at enhancing safety in border areas vulnerable to cross-border shelling.

The lack of adequate bunkers in border areas across Jammu and Kashmir during the Operation Sindoor operation laid bare the risks faced by residents during periods of heightened tension along the 740-km-long LoC.

Read the full interview by Vallari Sanzgiri and Thomas K Thomas in the Hindu Businessline.

‘No more 10-minute delivery’: Quick commerce players do away with deadline after labour minister intervenes

Union Labour Minister Mansukh Mandaviya has persuaded major delivery aggregators to remove the mandatory 10-minute delivery deadline, following a series of sustained interventions, sources said Tuesday. A meeting was held with leading platforms including Blinkit, Zepto, Zomato and Swiggy among others to address concerns related to delivery timelines.

According to sources, Blinkit has already acted on the directive and removed the 10-minute delivery promise from its branding. Other aggregators are expected to follow suit in the coming days. The move is aimed at ensuring greater safety, security and improved working conditions for gig workers.

World Bank estimates 7.2% growth for FY26, 6.5% for FY27

World Bank on Tuesday pegged FY26 growth rate at 7.2 per cent which is lower than government’s projection of 7.4 per cent. For the next fiscal, the growth rate could be 6.5 per cent.

“Growth in India is projected to slow to 6.5 percent in FY2026/27, assuming that the 50 percent import tariffs by the United States remain in place throughout the forecast horizon,” the Bank said in its latest Global Economic Prospects report.

Securities transaction tax collection likely to miss Budget target

The regulatory tightening of Futures and Options (F&O) trading, among other factors, led to a decline in securities transaction tax (STT) collections. Should current trends persist, revenue is expected to fall short of underperform against Budget estimates, a scenario not seen since FY20.

Data made public by the Income Tax Department show that STT collection was around ₹44,500 crore as on January 11. Meeting Budget estimates will require a collection of over ₹33,400 crore in the remaining 79 days, a target that appears increasingly challenging.

Retail inflation based on Consumer Price Index (CPI) rose to 1.33 per cent in December as against 0.71 per cent of November, Statistics Ministry reported on Monday. some of the data points are as follows Rural Inflation: An increase in headline and food inflation in rural sector was observed in December, 2025. The headline inflation in December was at 0.76 per cent while it was 0.1 per cent in November. Urban Inflation: An increase from 1.4 per cent to 2.03 per cent was observed in headline inflation of urban sector. Increase is also observed in urban food inflation from (-)3.6 per cent in to (-) 2.09 per cent.

Social security. Govt mulls raising EPFO, ESIC wage ceiling to ₹30,000

Following a recent directive from the Supreme Court of India and a long-standing demand from labour unions, the Ministry of Labour and Employment is actively examining a proposal to revise and standardise the wage ceilings for both the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC).

At present, the EPFO wage ceiling stands at ₹15,000 per month, while the ESIC threshold is ₹21,000. It is proposed that both ceilings be revised and capped at a uniform monthly level of ₹25,000 to ₹30,000, sources familiar with the matter said.

TCS profit falls nearly 14%at ₹10,657 crore for Q3

Tata Consultancy Services (TCS) net profit declined 13.9 per cent to ₹10,657 crore for the third quarter of the financial year 2025-26, compared to the same quarter of the previous fiscal year, owing to exceptional items like restructuring expenses, new labour code impact, legal claim.

Net profit declined by 11.7 per cent on a sequential basis compared to ₹12,075 crore reported in Q2 of FY26.

Exceptional items including cost of restructuring cost of ₹253 crore, impact of new Labour Code amounting to ₹2,128 crore, and provision towards legal claim of Rs 1,010 crore.

Setback for ISRO: PSLV-C62 mission faces anomaly at the end of third stage

The Indian Space Research Organisation (ISRO) encountered an anomaly at the end of the third stage of the PSLV-C62 mission, which was carrying the EOS-N1 Earth Observation satellite along with 15 co-passenger satellites from domestic & international customers on Monday.

The mission saw successful takeoff at 10:18 AM from the First Launch Pad at Satish Dhawan Space Centre, Sriharikota.

After completion of the first two stages, the mission saw anomalies towards the end of the third stage. As a result, the payload, which included domestic and international satellites along with a special DRDO spy satellite, was not deployed into the intended orbit.

The Indian Space Research Organisation (ISRO) is getting ready to launch the PSLV-C62 mission carrying the EOS-N1 Earth Observation satellite along with 15 co-passenger satellites from domestic & international customers on Monday.

The mission is the ninth dedicated commercial mission undertaken by NewSpace India Limited (NSIL), the commercial arm of the space organisation.

This launch will be the 64th flight of the Polar Satellite launch Vehicle(PSLV) - a workhorse of ISRO’s notable missions like Chandrayaan-1, Mars Orbiter Mission, Aditya-L1 and Astrosat Mission. 

The PSLV-C62/EOS-N1 mission would initially deploy the Earth Observation Satellite-N1 made by DRDO, followed by other co-passenger satellites into the sun-synchronous orbit around 17 minutes after lift-off.

The mission will carry satellites from Indian start-ups like Dhruva Aerospace and OrbitAID Aerospace’s AayulSAT, an experimental payload to demonstrate in-orbit satellite refueling technology.

X accepts its mistake, says will work as per Indian laws: government sources

After a few exchange of communications, Elon Musk-owned X (formerly twitter) has finally accepted its mistake and stated that around 3,500 pieces of content have been blocked, and over 600 accounts were deleted from its chatbot ‘Grok’.

The company has also said that going forward, it will not allow obscene imagery, adding that it will work as per law of the land.

“X has accepted its mistake and has said it will work as per Indian laws. The company has blocked around 3,500 pieces of content and over 600 accounts were deleted. Going forward, X will not allow obscene imagery,” a senior official at Ministry of Electronics and Information Technology (MeitY) told businessline, reports S Ronendra Singh.

SEBI set to give the nod for NSE IPO with NOC likely to be issued in a month’s time

The No Objection Certificate (NOC) for the much-anticipated listing of the National Stock Exchange (NSE) is likely to be issued as early as in a month’s time, as per SEBI Chairman Tuhin Kanta Pandey. “They are right now waiting for our no objection and once they get it, they have to follow other processes and go ahead with preparations...Possibly within this month we will issue it [NOC],” Pandey said in a select media round table in Chennai, reports Sindhu Hariharan.

Censor politics: The delay of actor-turned politician Vijay’s Jana Nayagan likely to redraw TN poll alliances

The denial of the Censor Board nod to Jana Nayagan, starring actor-turned-politician Vijay could potentially alter the political equation in the Tamil Nadu with Assembly polls three months away, and has set off various alliance possibilities, say political observers. Jana Nayagan has been touted as the much-anticipated farewell film for Vijay, the founder of political party Tamilaga Vettri Kazhagam (TVK) who threw his hat into the TN political ring. The movie was scheduled to be released on January 9 but its release now stands indefinitely postponed due lack of censor certificate, writes TE Raja Simhan.

And from this week’s portfolio edition

How safe are large-cap stocks?

Over the last one to two years, it has become almost cliched to point out that large-caps are attractive/offer value than small- and mid-cap stocks. How true is that? Of the 100 large-caps, 96 hit their all-time highs in the past five years and 42 of these 96 are trading at least 20 per cent below their peaks. So, before tuning into the usual safety mantras for large-caps, investors should get a hang of why many stocks in that segment, too, have tanked. Bl.portfolio’s conducted an analysis (data from Bloomberg) to find whether large-caps delivered earnings in line with consensus estimates prevailing at their all-time highs. Nishanth Gopalakrishnan explains.

From FY26 GDP growth accelerating to 7.4% on strong services momentum, to SEBI postponing B-30 mutual fund incentives for smaller cities until March 1. A UP sugar mill sheds its colonial name tied to Bhagat Singh s judge, while Dhurandhar smashes records as Hindi cinema s top-grossing film ever at ₹831 crore.

India s steel giants come under the scanner as a competition probe flags alleged price collusion at Tata Steel, JSW Steel, SAIL and others, raising tough questions on market power, compliance, and penalties for top executives.

Services momentum cools but stays solid, with December s PMI easing to an 11‑month low of 58, as resilient demand, exports, and benign inflation offset rising competition and currency jitters heading into 2026. And despite fresh US tariffs, India s exports to America jump, powered by a spike in high‑value telecom gear like new‑generation smartphones and petroleum products, underscoring how Indian manufacturers are climbing the value chain even under trade pressure.

🎧 On today’s episode: From strong auto and tractor sales to updated GST rules, and international reinsurers entering GIFT City, here’s an overview of key market and policy developments.

According to Bhatia, total defence production increased by 16–18% to ₹1.51 lakh crores, and the private sector in India made a substantial contribution to the country's readiness, as demonstrated by top-notch systems used in operations like Operation Sindhoor. Expectations for announcement of revised DAP 2025 and last year’s reforms like the Defence Production Manual (DPM) opening ammunition to private players are discussed, along with other goals like necessity for theatre commands. With capital acquisitions up over 20% and budget growth of 9–10%+ anticipated for 2026–2027, the sector aims to produce ₹3 lakh crores by 2029–2030.

🎧 On today’s episode: Vodafone-Idea gets AGR relief, Zomato and Swiggy raise payouts amid strike calls, RBI highlights global risks but backs India’s resilience, and a ₹4,531-crore scheme boosts exporters.

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Banerjee anticipates gross tax revenues at 94-95% of budgetary estimates with a shortfall of 1-1.1 trillion rupees, offset by higher RBI dividends and public sector enterprise payouts, keeping the fiscal deficit near the 4.4% target. Discussions highlight robust government CapEx supporting infrastructure amid lagging private investment due to capacity utilization at 70-75% and global headwinds. Looking to FY27, growth is projected at 6.5-7% with inflation at 3.5-4% post base year changes.

Data privacy, spectrum policy, energy flows, and carbon costs

🎧 On today’s episode: India Inc braces for steep data protection costs, a new spectrum roadmap powers future connectivity, Russian crude imports fluctuate under sanctions, and EU carbon rules tighten margins for Indian metal exporters.

The conversation covers the surge in mergers and acquisitions, expanding opportunities in tier 2 cities, the role of private equity in fueling growth, and the sector’s path toward greater scale and efficiency. Bali also shares insights on how corporate hospitals are bridging gaps in access and quality while preparing for the next wave of growth in India’s healthcare landscape. Tune in to hear the full story and understand the trends shaping the future of healthcare in India. Data inputs from Kaivaan Movdawalla, Partner, and National Healthcare Leader at EY- Parthenon India.

From expectations of 9–10% industry growth and the rising dominance of health insurance, to upcoming regulatory shifts like IFRS 17 and risk-based capital, Jha shares an insider’s perspective on what lies ahead. The conversation also dives into pressing challenges such as climate risks, cyber threats, underinsurance, and the need for innovative protection products.

In this episode of the Year-end podcast on commodities, Subramani Ra Mancombu speaks with Anindya Banerjee, Head of Currency and Commodity Research at Kotak Securities, to unpack the reasons behind this surge and explore what 2026 holds for precious metals. Will silver outshine gold again?

Tune in for expert insights on trends, risks, and opportunities in the bullion market.

Sinha unpacks why big-budget campaigns struggle to stand out, what brands misunderstand about a hyper-connected yet lonely Gen Z, and how the industry is moving through a phase of “storming, forming and norming” toward its next chapter. 

(Host: Chitra Narayanan, Producer: Prethicshaa Gurumoorthy) 

Suraj reflects on why this year marks an inflection point for AI in India, and how Fractal has built on years of deep research to advance foundation models, reasoning systems, diffusion models and agentic AI. He also discusses the company’s growing presence at top global AI conferences, its open-source work — including the Fathom model series and Kaleido diffusion models.

The conversation looks ahead to 2026, examining how the IndiaAI Mission could enable larger, more ambitious models and what that means for India’s role in global AI research and deployment.

As 2026 outlooks arrive, fund managers once again use familiar language — constructive, selective, disciplined and long term. Five AI models were asked to replicate this exercise, producing views that prioritise reassurance over clear forecasts.The exercise shows a consistent pattern: acknowledge risks, avoid binary calls and return to the same conclusion — stay invested, remain selective and maintain SIP discipline.

Read more here

Why small-cap funds test investor patience despite SIP discipline

Small-cap funds have attracted a surge in retail participation, but they come with deeper drawdowns, longer phases of underperformance and higher volatility than mid- and large-cap funds. While SIPs can soften the impact over time, they do not eliminate extended periods of weak returns, making patience and a long investment horizon essential for investors.

Read more here

Why women farmers are India’s most underserved borrowers and how loans can change that?

Women form a large share of India’s agricultural workforce but remain marginal borrowers because limited land ownership and systemic barriers restrict access to formal credit. New collateral-free and simplified lending models are expanding access, helping women manage farm needs, smooth incomes and build financial resilience when credit is provided responsibly.

Read more here

Delhi intensifies GRAP-IV crackdown as over 600 non-compliant industries face closure

Delhi has intensified GRAP Stage IV enforcement, conducting over 3,000 inspections and initiating closure or sealing action against more than 600 non-compliant industrial units. Alongside this, vehicular checks have surged, with nearly 17,000 vehicles inspected in three days, over 12,000 challans issued and close to 1,500 vehicles impounded as authorities target all major pollution sources.

Read more here

(Research: Shakthi, VO: Siddharth Mathew Cherian)

Also, the market regulator will have to transfer its surplus to the government.
The proposed law, once enacted, will replace the Securities Contracts (Regulation) Act, the Securities and Exchange Board of India Act, 1992 and the Depositories Act, 1996. Now, the Bill will be examined by a select committee before taken for consideration and passage.
The Code further seeks to strengthen investor protection, promote investor education and awareness, and ensure effective and time-bound redressal of investor grievances.

Moving on to the aviation sector…
The Competition Commission of India (CCI) on Thursday initiated proceedings against IndiGo under the provisions of the Competition Act, 2002 for recent flight disruptions across various routes.
According to a CCI communique, based on an “initial assessment” of the disruption in the aviation sector, proceedings will be initiated under the anti-competition law.
What this means is that the Commission has formed a prima facie opinion about evidence of a market disruption caused by IndiGo’s market dominance, to warrant a formal probe. The will follow a formal inquiry by the Director-General, which has the power to summon executives, record statements and demand internal company documents or mails.

From aviation, let’s turn to technology and manufacturing…
India’s newly-established semiconductor manufacturing units have begun production of commercial chips, marking a major milestone in the country’s efforts to build a domestic electronics and manufacturing ecosystem, a top government official said on Thursday.
Speaking on the sidelines of an event, S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) said that India’s semiconductor programme was moving steadily towards full commitment under its first phase.
Next, some big leadership changes in telecom…
Bharti Airtel on Thursday said Shashwat Sharma, currently the CEO Designate, is all set to assume charge as Managing Director and CEO of the telco with effect from January 1, 2026.
The board of India's second-largest telecom company has also greenlit the appointment of Vice Chairman and MD Gopal Vittal as Executive Vice Chairman from January 1, 2026, for five years, subject to the shareholders' approval.
The board cleared the appointment of Chief Financial Officer Soumen Ray as Group Chief Financial Officer and Akhil Garg as Chief Financial Officer (Airtel India), effective January 1, 2026.

Finally, a major development in Parliament…
The Lok Sabha Speaker on Thursday passed the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill, 2025 that replaces the 20-year-old Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) amid tearing of the copies of the bill by opposition members.

As part of tbusinessline's year-end podcast, Aneesh Phadnis speaks to Sumesh Patel, President for the Asia-Pacific region at SITA, a specialist in air transport communications and information technology, to discuss the outlook for Indian aviation.

(Host: Aneesh Phadnis, Producer: Siddharth MC)

Rural jobs revamp, regulatory scrutiny, and IBC reform momentum.

🎧 On today’s episode: The Centre’s MGNREGA spending may drop by nearly a third under the new Viksit Bharat – Gramin Rozgar and Ajeevika Mission law, SEBI reviews a proposal to make top officials disclose their assets amid privacy concerns, and a parliamentary panel calls for tighter timelines and clearer rules in the IBC overhaul.

Rupee slides, rural jobs reboot, and record IPL bids.

🎧 On today’s episode: The rupee breaches a historic ₹91 against the dollar as markets tumble on FII outflows, the government introduces the Viksit Bharat Bill to replace MGNREGA sparking a storm in Parliament, and uncapped stars Kartik Sharma and Prashant Veer fetch over ₹14 crore each at the IPL 2026 auction.

Trade surge, rural jobs overhaul, and major investment moves.

🎧 On today’s episode: India’s trade deficit narrows sharply on record exports, a new bill proposes replacing MGNREGA with the Viksit Bharat Guarantee, and Mitsubishi UFJ eyes a $3.2 billion stake in Shriram Finance as Japan deepens its push into India.

IPOs, crude oil, aviation, and food systems

🎧 On today’s episode: The IPO boom faces slowing gains, Russian crude flows rise on discounts, India’s first private trainer aircraft takes shape, and food security is highlighted as a strategic necessity.

On December 10, Mexico’s Senate approved tariff hikes of up to 50% next year on imports from China and several other Asian countries, aiming to bolster local industry despite opposition from business groups and affected governments.

The proposal, passed earlier by the lower house, will raise or impose new duties of up to 50% from 2026 on certain goods such as autos, auto parts, textiles, clothing, plastics and steel from countries without trade deals with Mexico, including China, India, South Korea, Thailand and Indonesia. The majority of products will see tariffs of up to 35%.

The import duty on cars will rise to 50 per cent from 20 per cent, dealing a significant blow to India’s largest vehicle exporters to Mexico including Volkswagen, Hyundai, Nissan and Maruti Suzuki.

2.Microsoft deepens India bet with AI tie-ups and 200,000 Copilot licenses across top IT firms, and CEO Satya Nadella develops his own cricket app

 Microsoft Chairman and CEO Satya Nadella has announced partnerships with four Indian IT companies — Cognizant, Infosys, TCS, and Wipro. Each company will deploy over 50,000 Microsoft Copilot licenses, collectively surpassing 200,000 licenses, and setting a new benchmark for enterprise-scale AI adoption.

On a side note, Satya Nadella, a die-hard cricket fan, has been spending his free time coding and designing his own app that he used to analyze the centuries-old game.

He talked about combining two of his passions when he designed a Deep Research AI app over Thanksgiving. He then used it to select a team of all-time greats in Indian test cricket, for starters.

“The system produced consensus areas, debates, reasoning chains, everything. It was fantastic,” Nadella said during a company event in Bangalore. “I wanted to get a job on the Copilot team.”

Nadella is meeting business and political leaders in India this week. 

3.IndiGo to give travel vouchers worth ₹10,000 to affected passengers 

IndiGo on Thursday said it will offer travel vouchers worth ₹10,000 to passengers impacted by flight disruption on December 3-5. These can be used for any future IndiGo flight in 12 months.

The travel vouchers will be in addition to compensation payable under government norms. Directorate General of Civil Aviation norms require airlines to pay compensation of ₹,5000-10,000 to passengers whose flights are cancelled within 24 hours of departure time.  The announcement comes a day after Delhi High Court asked why the airline was not paying compensation. The court also questioned the government for its failure to prevent the chaos.

4.Prada to launch ‘Made in India’ Kolhapuri chappals after backlash

Prada will make a limited-edition collection of Kolhapuri chappals in India inspired by India’s traditional footwear -Kolhapuri sandals, selling each pair at around  $930(₹84,000), turning a backlash over cultural appropriation into a collaboration with Indian artisans.

The Italian luxury group plans to make 2,000 pairs of Kolhapuri chappals in the regions of Maharashtra and Karnataka under a deal with two state-backed cooperative bodies.

E-commerce major Amazon on Wednesday said it will make fresh investments of over $35 billion across all its businesses in the country till 2030. These investments will focus on business expansion as well as driving digitisation and export growth. It added that it plans to create one million additional job opportunities and deliver AI benefits to 15 million small businesses and Indian consumers.

According to Amazon, Since 2010, the company has invested nearly $40 billion in India and has enabled over $20 billion in cumulative e-commerce exports, reports Meenakshi Verma Ambwani.

H1B visa interviews of thousands of applicants in India cancelled triggering outrage

Pre-scheduled interviews of thousands of H-1B visa applicants slated for later this month in India have been abruptly postponed by several months apparently to scrutinise their social media posts and online profiles.

Some of the applicants, whose visa appointments were scheduled next week, have received e-mails from US immigration authorities informing that their interviews are being pushed back as late as May next year.

The mass cancellation of scheduled interviews of the H-1B visa applicants in view of the enhanced vetting measures is set to result in significant delays in their return to the US. The rescheduling of the interviews is for all applicants who were previously given appointments from December 15 onwards.

Most of them were already in India and are now unable to return to the US pending their new interview dates since they don’t have a valid H1B visa to travel back to the US for their jobs.

DGCA summons IndiGo CEO Pieter Elbers to explain mass flight cancellations

India’s aviation safety regulator has summoned IndiGo’s Chief Executive Pieter Elbers on Thursday to present facts related to the recent mass cancellation of flights. 

The Directorate General of Civil Aviation (DGCA) has directed the airline’s Chief Executive to present comprehensive data and updates relating to the recent operational disruptions. Elbers has been instructed to submit a complete report and appear before the DGCA on December 11, 2025.

Sluggish growth in own tax revenue of most large States in FY26

At a time when GST rates have been lowered and states don’t receive GST compensation cess either, the own tax revenue (OTR) of states becomes more significant. businessline analysis of OTR data from CAG shows that the growth of this revenue has been sluggish for some of the top states in FY26.

Gujarat’s OTR for April–October 2025 has grown by about 13 per cent over last year. This is the highest increase among the 10 biggest states in India (by GDP). Growth of OTR in some of the larger states such as Tamil Nadu, Uttar Pradesh, Andhra Pradesh and Madhya Pradesh was anaemic, below 5 per cent. Only four of the ten large states have crossed half of their budgeted own tax collections by October 2025, reports Sindhu Hariharan.

Microsoft plans to invest USD 17.5 billion (around Rs 1.58 lakh crore) in India to help build infrastructure, skills, and sovereign capabilities needed for the country’s AI future, CEO Satya Nadella said on social media platform X.

“To support the country’s ambitions, Microsoft is committing USD17.5B—our largest investment ever in Asia—to help build the infrastructure, skills, and sovereign capabilities needed for India’s AI-first future,” Nadella said on X after meeting Prime Minister Narendra Modi.

Microsoft, in a statement, said the company plans to invest USD 17.5 billion in India over the next four years (2026-2029) to drive AI diffusion at a population scale.

This comes on top of Microsoft’s earlier commitment of USD 3 billion announced in January 2025

Govt cuts IndiGo’s flight schedule by 10 per cent: Civil Aviation Minister K Rammohan Naidu

The Civil Aviation Minister has asked for a 10 per cent cut in planned IndiGo flights to help restore order at India’s biggest airline, which cancelled thousands of flights nationwide after failing to plan for tighter safety regulations.

Posting a picture of IndiGo CEO Pieter Elbers, sitting with folded hands in front of him, Minister Ram Mohan Naidu, in a post on X, said that the airline management was summoned to the ministry to provide an update.

The curtailment is double of what the sector regulator DGCA had ordered on Monday.

JioHotstar to invest ₹4,000 crore for South Indian content push

Streaming service JioHotstar has announced that it will be investing ₹4,000 crore over the next five years to strengthen South India’s creative economy.

Sushant Sreeram, Head – SVOD Business & Chief Marketing Officer at JioStar, said the investment forms part of a broader collaboration with the Tamil Nadu government.

He said that “As part of this vision, JioHotstar will invest ₹4,000 crore to nurture creators, strengthen the production ecosystem and build a pipeline of stories that are ready for India and ready for the world,”

On December 9, JioHotstar formalised a Letter of Intent with the Government of Tamil Nadu in the presence of the Chief Minister, MK Stalin.

SBI to hire around 16,000 people each fiscal, open 200-300 branches in FY26: Chairman

India’s largest lender State Bank of India (SBI) will hire 16,000 employees in current financial year and will hire a similar number of employees each fiscal to aid its business expansion plans and beef up its customer service, chairman CS Setty told businessline in an interaction. The bank also intends to fill “white spaces” by opening 200-300 branches this fiscal, he said.

The employee hiring and physical network expansion moves are in-line with the lender’s plan to double its business size to ₹200 lakh crore in 6-7 years from ₹100 lakh crore in Q2FY26, report Piyush Shukla and K Ram Kumar.

A sufficient number of pilots, fewer flights and better preparation helped Air India to implement the new flight duty time norms. According to sources, Air India initiated the process to configure crew rostering software two-three months before the November 1 deadline and rolled out the changes a fortnight before the deadline, writes Aneesh Phadnis.

As IndiGo airline flight cancellations continue, Indian Railways is witnessing full occupancy in special trains it has deployed, particularly from metro cities. The Railways are operating 89 special trains across different destinations in the country to ease the plight of commuters impacted by flight cancellations, writes Aroosa Ahmed.

According to agency reports, the Directorate General of Civil Aviation-appointed panel investigating the flight disruptions at IndiGo is likely to summon the airline’s CEO Pieter Elbers and Chief Operating Officer Isidre Porqueras on Wednesday as part of the ongoing probe.

Union Civil Aviation Minister Ram Mohan Naidu addressed the ongoing IndiGo crisis in Rajya Sabha, saying the issues faced by passengers were linked to the airline’s internal crew rostering and operational planning, and not the Aircraft Maintenance and Scheduling System (AMSS). The Aviation Minister emphasised that “there will be no compromise on safety”.

2. IDBI Bank stake sale expected to bridge part of tax shortfall

With the strategic sale of IDBI Bank entering the final phase, the government is expected to factor in proceeds of over ₹32,000 crore in the Union Budget’s math for fiscal year 2025-26. Top Finance Ministry officials said all regulatory clearances are now in place and the strategic disinvestment of IDBI Bank is likely to be completed soon, writes Shishir Sinha.

3. Trump Media to invest ₹1 lakh crore in Hyderabad’s Bharat Future City over 10 years

Trump Media has announced an investment of ₹1 lakh crore in Bharat Future City, a new city being built on the outskirts of Hyderabad, according to Jayesh Ranjan, Special Chief Secretary, Government of Telangana.

The US firm will invest over the next 10 years.

4.Intel products for local markets to be manufactured at Tata Electronics’ Fab

Tata Group and Intel Corporation will explore manufacturing and packaging of Intel products for local markets at Tata Electronics’ upcoming Fab and OSAT (Outsourced Semiconductor Assembly and Test) facilities. The two companies will collaborate for advanced packaging in India and focus on consumer and enterprise hardware enablement and semiconductor and systems manufacturing to support India’s domestic semiconductor ecosystem.

Stay updated on Nifty, Sensex, and Bank Nifty rebounds, midcap and smallcap trends, and key stock market movements. Tune in for insights on aviation, manufacturing, finance, and investment opportunities in India.

Diwanji also talks about the RBI’s proposed ECL norms, corporate governance at banks and consolidation in Indian banking sector. 

Diwanji goes on to explain how banks will need to adjust their strategies, build capacity for new financing models, and improve governance to handle larger-scale operations. The conversation highlights the potential for larger, more efficient banks and the role of domestic and foreign capital in shaping India’s economy. 

Indian banks are opening up to M&A financing for the first time, recognizing that industry consolidation will create larger corporations, driving significant financing needs, with private equity likely to rely more on onshore funds than offshore, says Abizer Diwanji , founder at Neostrat Advisors.

(Host: Piyush Shukla,  producer: Prethicshaa Gurumoorthy)

Mid-caps, small-caps, asset allocation & the global AI wave

🎧 On today’s episode: AI drives global market leadership, India’s mid-caps shine with long-term outperformance, rebalancing proves its power in smoothing returns, and small-cap investors reassess valuations and shift towards consistent outperformers.

Catch today’s top legal, business, finance, and entertainment news in one quick briefing.

Markets, tech, courts & defence

🎧 On today’s episode: TCS and TPG unveil a ₹18,000 crore plan for AI-ready HyperVault data centres. Benchmark indices rally as Nifty nears an all-time high on India–US trade optimism. The Supreme Court rules Governors and the President cannot have fixed timelines to give assent to state bills. The US clears a $93 million defence sale to India, including Javelin missiles and Excalibur artillery rounds.

Courts, defence, ports & policy shifts

🎧 On today’s episode: The Supreme Court questions investigative agencies over stalled probes into Indiabulls. A US report reveals China’s disinformation push to undercut Rafale sales after the India–Pakistan standoff. Mumbai Port Authority opens 22 Indira Dock berths to private players in its biggest move toward operational reform. Morgan Stanley expects a 25bps RBI rate cut in December as inflation softens.

Aviation, trade winds & the global tech stage

On today’s episode: The Centre proposes a ₹30,000 crore expansion of the UDAN scheme to boost regional air connectivity. India and the US move closer to a balanced bilateral trade agreement as tariff talks intensify. Bengaluru kicks off its 28th Tech Summit, uniting global innovators under the theme “Futurise.” Sugar exports get a lift with a 15-lakh-tonne clearance for 2025–26, as calls grow to raise the minimum selling price.

Energy, employment & leadership

🎧 On today’s episode: India signs its first structured LPG import deal with the US, diversifying energy supplies. RBI eases export rules, but the rupee could face short-term pressure. Self-employment continues to surge, driven by women and MSMEs. The business world remembers Arunachalam Vellayan, former Murugappa Group chairman.

Get today’s top business news, market trends, key economic updates, and the latest on commodities, equities, and policy developments from India and around the globe.

We explore the future of Indian banking, foreign bank investments, regulatory trends, PSB mergers, IDBI privatisation, credit–deposit growth, and asset-quality outlook for FY25.

Prakash Agrawal breaks down recent high-profile moves such as SMBC’s stake in Yes Bank and Emirates NBD’s proposed acquisition of RBL Bank, and what they signal about India’s position as a global growth hotspot. He also discusses RBI’s evolving stance on ownership, regulatory easing in the latest MPC, and whether India could be headed toward creating globally top-10 banks.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Read more

Ola Electric faces technology leak allegations

South Korea’s LG Energy Solution has accused Ola Electric of leaking “national core technology” in battery manufacturing. A former LG researcher allegedly transferred pouch-type lithium-ion battery production know-how to Ola Electric, though he claimed he was unaware of its confidential nature.

Tiruppur exporters lose ₹12,000 crore orders due to US tariff

Tamil Nadu’s Tiruppur textile exporters have lost ₹12,000 crore in export orders following new US tariffs from August 27. While production has fallen by 30%, there have been no closures or job losses yet. The real impact is expected in 2026 if tariffs persist.

ED summons Anil Ambani in RCom bank fraud case

The Enforcement Directorate has issued fresh summons for Reliance Group chairman Anil Ambani on November 14 in connection with a ₹2,929-crore bank fraud and money laundering probe involving Reliance Communications and SBI. Ambani had previously been questioned in August.

Kharif prices crash: Most crops sold below MSP in October

Market data shows that nearly all major kharif crops in October sold below minimum support prices, except for paddy and jowar. Limited state intervention means most farmers have not benefited from MSP this season.

However, the government has maintained that it is not a legislation and it would not introduce any regulation, but added that existing regulations can be applied to address many of the risks. For instance, existing laws like information technology, data protection, consumer protection and statutory civil and criminal codes, etc, can be used to govern AI applications, reports S Ronendra Singh.

IBM to cut thousands of jobs as focus shifts to AI, cloud software

IBM on Tuesday announced layoffs affecting a low single-digit percentage of its global workforce, potentially impacting thousands. Sources told businessline that India is likely to be among the regions impacted. The country accounts for an estimated 30–35% of IBM’s global workforce of over 270,000, making it one of the company’s largest employee bases, reports Sanjana B.

Bihar Election Phase 1: NDA-Mahagathbandhan duel plays on caste and welfarism

A bipolar contest between the ruling National Democratic Alliance (NDA) and the opposing Mahagathbandhan has eclipsed prospects of the third hopeful — debutant Prashant Kishor’s Jan Suraaj Party (JSP) — as Bihar prepares to vote in the first phase of polling in 121 constituencies spread across 18 districts on Thursday. The fate of Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha as well as Mahagathbandhan leader and chief ministerial candidate Tejashwi Yadav will be sealed in the first phase, reports Poornima Joshi.

Russian crude oil flows uninterrupted to India, for now

Russian crude oil imports by India were largely stable in October 2025, with cargoes growing almost 2.53 per cent M-o-M to around 1.62 million barrels per day (mb/d), as refiners maintained the momentum in line with rising domestic demand.

In September, the Russian crude oil imports were at 1.58 mb/d, according to global real time data and analytics firm Kpler.

The sustained flows from Moscow are also aiding Indian refiners in monetising the limited window of opportunity to sell diesel to the European Union (EU) before its January 21, 2026 deadline under latest sanctions comes into effect, writes Rishi Ranjan Kala.

Relief for banks, homebuyers: ED–IBBI pact allows return of attached assets under PMLA

In a major relief for banks and home buyers, assets of bankrupt companies and their promoters attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) can now be restored to affected creditors, following the finalisation of a new standard operating procedure (SOP) jointly framed by the ED and the Insolvency and Bankruptcy Board of India (IBBI).

That’s a wrap for today’s news. Check out the hindu businessline’s website. Thank you for joining us. stay informed and stay ahead

DGCA looks at major ticket refund changes

Air passengers may soon cancel or amend tickets without extra charges within 48 hours of booking, as the aviation watchdog proposes significant new refund norms. Airlines will also bear the onus of refunds for tickets booked through agents or portals.

SBI Q2 net profit rises 10%

State Bank of India reports a ₹20,160 crore profit for Q2, led by a one-time gain of ₹4,593 crore from its sale of a 13.18% stake in Yes Bank to Sumitomo Mitsui Banking Corp.

Adani Enterprises’ profit jumps 84%

Adani Enterprises posts a strong ₹3,198 crore profit for Q2 FY26, boosted by a one-time gain of ₹3,583 crore. The company also plans to raise ₹25,000 crore through a rights issue.

The gamechanger in Bihar polls

The ongoing disbursement of ₹10,000 to women under the Mukhyamantri Mahila Rojgar Yojana may prove decisive in the Bihar elections. The scheme promises ₹2 lakh for women entrepreneurs and has already reached 1.5 crore beneficiaries.

ChatGPT Go rolls out in India

OpenAI launches ChatGPT Go which is now offering one-year free access to users during a limited-time promotional period, with enhanced features like image generation and file uploads.

That’s a wrap for today’s news. Check out the hindu businessline’s website. Thank you for joining us. stay informed and stay ahead

In today’s episode

Vodafone Idea gets a lifeline:
The Supreme Court has allowed the government to consider full relief on Vodafone Idea’s adjusted gross revenue dues — a major breather for the debt-laden telecom giant. Shares jumped nearly 10% after the news, as investors welcomed what could be a turning point for the struggling carrier.

India rebalances its oil basket:
India’s crude oil imports from Russia plunged nearly 29% in September after the U.S. imposed a new 25% tariff on Russian barrels. To offset the drop, India ramped up sourcing from Nigeria, Angola, and Türkiye — signaling a strategic diversification in its energy imports.

‘Jungle Raj’ returns to Bihar’s politics:
As Bihar heads to the polls on November 6, familiar shadows from its violent political past are back. Candidates with criminal records — including one campaigning from jail — dominate headlines, reviving memories of the state’s turbulent 1990s, writes Poornima Joshi.

A historic win for India’s women in blue:
Under Amol Muzumdar’s guidance, India clinched its first-ever ICC Women’s ODI World Cup. For Muzumdar — once dubbed the “eternal next man in” — it’s redemption after decades of being overlooked. Now, the big question: will this triumph finally revolutionize women’s cricket in India?, writes Radheshyam Jadhav.

That’s a wrap for today’s news. Check out the hindu businessline’s website. Thank you for joining us. stay informed and stay ahead

Money, metals & the digital divide

🎧 On today’s episode: Lenskart’s ₹7,300-crore IPO hits the market amid soaring valuations and investor caution. Foreign investors pull out of the secondary market but pour billions into new IPOs. India’s steelmakers push back against surging imports from China, and at the WTO, India urges nations to bridge the digital divide for fairer e-commerce.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

From electric tractors transforming Indian farms to CESL’s 10,900 e-bus rollout, SEBI’s last window for old paper shares, and Kotak’s Equity Savings Fund insights - Here's everything you need to start the week informed.

Despite global uncertainties, India’s markets hold steady with strong domestic support and positive momentum heading into the festival season.

Stay informed and celebrate with confidence as we bring you the top business stories shaping your day!

Consumer durables see blockbuster Diwali – Sales surge 40–45% post-GST cuts, led by premium TVs, ACs, and appliances; brands like Haier, Godrej, LG, Samsung report strong festive growth, with retailers expecting 15–20% higher sales.

Trump claims Modi assured India will stop buying Russian oil – The US President called it a “big stop” amid efforts to curb Russia’s war funding; India says energy imports are guided by consumer interests and supply stability, with ongoing US-India cooperation.

Rupee gains 25 paise to 87.82 – Buoyed by RBI intervention, softer crude, and optimism over US-India trade talks, the rupee hits a nearly one-month high, recovering most of last month’s losses.

Ashok Leyland wins ₹669-crore TN bus order – The company will supply 1,937 BS VI diesel buses, including low-floor and semi-low-floor models, strengthening its presence in Tamil Nadu’s public transport; shares close up 1.95% at ₹137.60.

Wipro Q2 revenue and profit see muted growth – Revenue rises 2% to ₹22,697 crore, net profit up 1.15% to ₹3,246 crore; BFSI and healthcare drive growth, large deal bookings surge 90.5%, and margins remain steady at 17%.

Hyundai India to invest ₹45,000 crore – The company will launch 26 new models, including EVs, hybrids, MPVs, and SUVs, aiming for a 15% passenger vehicle market share; Genesis luxury brand debuts in 2027, with Tarun Garg as MD & CEO from 2026.

Axis Bank Q2 profit falls 26% – Higher provisions for bad loans, especially in unsecured segments, weigh on earnings; net interest income rises slightly, gross NPA improves to 1.46%, and shares close 0.6% lower.

Tata Trusts rejects Tata Sons listing – Citing concerns over voting rights, the Trusts oppose the listing while remaining open to an orderly exit for the Shapoorji Pallonji Group, which holds 18.4% and faces ₹52,000 crore debt.

Coinbase invests in CoinDCX – The deal values the Indian crypto exchange at $2.45 billion, supporting product innovation, user growth, MENA expansion, and educational initiatives to strengthen compliant crypto adoption.

Rupee recovers 75 paise to 88.06 – Supported by a weak dollar, falling crude, domestic market gains, and likely RBI intervention; Sensex jumps 575 points, Nifty rises 178 points, with a $32.1 billion September trade deficit.

Infosys wins $1.6B UK NHS deal – The company will develop a workforce management solution over 15 years and reports Q2 results on Thursday.

Google invests $15B in Vizag AI hub – The hub will build AI tools, digital infrastructure, and upskill youth, with Bharti Airtel partnership enhancing India’s AI ecosystem.

LG Electronics India IPO soars 48% – Shares close at ₹1,689, making it India’s most subscribed IPO; analysts suggest partial profit booking and long-term holding.

WHO alerts on contaminated cough syrups – Three Indian oral medicines linked to 20+ child deaths in MP and Rajasthan; CDSCO halts production and recalls affected batches.

Silver hits record near $53 – London short squeeze and rising demand drive prices, while tight supply and tariff concerns fuel volatility; gold and other precious metals also climb.

• Silver hits record high: Silver reached $51.25/oz, up 73% this year, surpassing gold’s 53% gain, driven by ETP inflows, retail demand, and speculation, though caution is advised as resistance levels approach.

• Retail inflation slows: India’s retail inflation fell to an eight-year low of 1.54% in September, with food prices driving the drop; economists expect continued softness and a possible RBI rate cut in December.

• Zoho and homegrown tech: Zoho co-founder Sridhar Vembu emphasized the importance of Made-in-India digital technologies, infrastructure upgrades, fair competition, and regulating protocols without banning Western alternatives.

• Religare’s reverse merger: REL plans to absorb its unlisted insurance arm, Care Health, via a preferential share issue, folding in ₹15,000 crore of value while avoiding IPO hurdles, following the company’s governance restructuring.

• Foxconn expansion in Tamil Nadu: Foxconn will invest an additional ₹15,000 crore and create 14,000 jobs, supported by a new dedicated Foxconn Desk, reinforcing Tamil Nadu as a global hub for electronics, advanced manufacturing, and AI-led tech.

  
  

  Stay informed with sharp insights on metals, aviation, markets, and global trade to start your week ahead.

Silver hits $51.25, marking a rare third-time rally — but could a sharp fall follow?

IndiGo faces ₹40 lakh in penalties for training lapses on critical flight simulators. Markets remain strong, with Nifty, Sensex, and Bank Nifty testing key resistance levels. And China’s new battery export curbs tighten pressure on US energy and tech firms.

Stay informed with sharp insights on metals, aviation, markets, and global trade to start your week ahead.

🎧 On today's episode:
UK PM Keir Starmer calls the India-UK free trade pact a breakthrough moment, aiming to double trade to $115 billion by 2030. SEBI raises the block deal threshold to ₹25 crore to improve liquidity and transparency in equity markets. TCS posts a 1.4% rise in Q2 profit but cuts nearly 20,000 jobs, with revenue up 2.3% year-on-year. Meanwhile, SoftBank-backed Graphcore announces a £1 billion AI engineering campus in Bengaluru, creating 500 new semiconductor roles.

🎧Tune into your midweek news fix:

UK PM Keir Starmer lands in Mumbai with a delegation of top British business leaders to boost trade ties after the recent free trade deal. Gold and silver prices hit new highs, with gold crossing $4,035. Telangana bans two contaminated cough syrups. Meanwhile, carmakers face a carrier shortage delaying vehicle deliveries amid rising demand post-GST.

🎧 On today’s episode: WeWork India’s ₹3,000 crore IPO just clears the line at 1.15 times subscription, driven by institutional buyers, even as legal clouds gather and retail investors stay wary. Jewellers fear a gold shortage as festive demand surges and prices soar past ₹1.21 lakh. UPI rolls out facial and fingerprint authentication from tomorrow, marking a major shift in digital payments. Salary hikes in India are also projected to reach 9% in 2026, led by real estate and NBFCs.

In September 2025, India stuck with its preference for heavy middle distillates, sourcing over 75% of its crude from Russia and the Middle East. Russia led with a 34% share, while the Middle East contributed just over 44%.

Although Russian imports dipped by over 10% month-on-month, they remain a cost-effective choice for Indian refiners. US pressure is showing some effect, but any cuts to Russian barrels are expected to be minor and mostly symbolic.

Meanwhile, imports from the US and Africa stayed limited, as American crude faces logistical and refinery compatibility issues, keeping its growth potential modest.

Read more here

Stock market outlook: Will Nifty 50, Sensex & Nifty Bank sustain the bounce?

Markets recovered last week, easing pressure from the previous fall. Nifty and Sensex rose about 1%, while Nifty Bank gained over 2%, showing strong bullish signals.

BSE Metals and PSU sectors led the rally, up nearly 4% and 3%. However, Foreign Portfolio Investors sold Indian equities for the second week, with outflows of $1.15 billion.

Nifty faces resistance at 25,500, with support at 24,500, keeping the medium-term bullish outlook intact.

Nifty Bank is forming a bullish pattern; a break above 55,850 could push it to 58,000. Sensex support at 80,000 held well, eyeing a rise toward 83,400.

Midcaps and Smallcaps remain strong, aiming for higher levels in the coming months.

Read more here

Cough syrup deaths

In Madhya Pradesh’s Chhindwara, 14 children died from suspected kidney failure linked to a toxic cough syrup.

Cough syrup Coldrif’s samples taken from Sresan Pharma’s Kanchipuram plant in Tamil Nadu contain contaminants Diethylene Glycol (DEG), the Union Health Ministry said on Saturday, raising more questions on the death of children in Madhya Pradesh and Rajasthan.

States including Kerala, Tamil Nadu and Madhya Pradesh have banned the syrup, while Rajasthan reportedly took action against other cough syrups (containing Dextromethorphan) from Jaipur-based Kaysons Pharma. Both pharma companies have not made any public statements, following the developments.

Read more here

India-EU FTA

Senior officials from India and the 27-nation European Union will begin the 14th round of talks on a proposed free trade agreement in Brussels on October 6. The five-day negotiations aim to resolve outstanding issues and finalize the pact by December.

Commerce Minister Piyush Goyal recently expressed optimism about an early agreement. He is also expected to meet EU Trade Commissioner Maros Sefcovic later this month to review progress.

The India-EU trade deal seeks to boost two-way commerce and investment, covering 23 policy areas including goods, services, intellectual property, and sustainable development.

Bilateral trade in goods reached $136.5 billion in 2024-25, with the EU accounting for 17% of India’s exports. Services trade between the two stood at $51.45 billion in 2023.

Read more here

The idea is to develop and highlight India’s own solutions across categories like Operating Systems, social media platforms, email systems, mapping technologies, cybersecurity, app stores, and others, to avoid “access disruptions” due to use of global providers, they added.

While government agencies like C-DAC steer R&D across various emerging tech, the authorities realise that they will have to align with academic institutions to create more Indian IP and also bring private sector enterprises into the discussion to promote the various homegrown options that already exist, the source added.

2.In other news, The government on Thursday said the Electronics Component Manufacturing Scheme (ECMS) has received 249 applications with investment proposals worth ₹1.15 lakh crore, which is much higher than expected, and also employment and production targets multifold when compared to the goals set during formulation of the scheme.

The scheme was approved by the Cabinet in March this year and its application window closed on September 30.

Ashwini Vaishnaw, Minister for Electronics and Information Technology said “It’s resulting into investment, employment and extra production against a target which was again a very ambitious target we have taken of ₹59,350 crore investment, we have received applications for ₹1,15,351 crore. Against a production target of ₹4,56,500 crore, we have received production estimates more than ₹10,34,000 crore. So, that is more than double what we have targeted,” , reports S Ronendra Singh

3.The government on Thursday issued detailed rules under the Promotion and Regulation of Online Gaming Act, 2025, creating a framework to govern India’s fast-growing digital gaming ecosystem.

The rules, published by the Ministry of Electronics and Information Technology (MeitY), set out the powers of a newly established Online Gaming Authority of India, procedures for registration of games, grievance redressal systems for users, and penalties for violations. The rules are expected to bring long-awaited clarity for companies straddling the line between casual play, e-sports and money-based gaming.

Under the framework, the Authority will determine whether a game qualifies as an “online money game” — involving wagers, stakes or cash prizes — or whether it falls under “social games” or “e-sports.”

4.Despite a slowdown in sales for nearly 20 days during the new GST 2.0 transition, the pure electric vehicle two-wheeler (e-2W) registrations rose by 2 per cent in September 2025 to 92,536 units as against 91,091 units in August 2025, according to data collated from the Vahan portal on October 1 , reports TE Raja Simhan.

TVS Motor led the table with 21,132 units but saw a 4.3 per cent drop in volume over August. Magnet availability continues to pose challenges in the short to medium term, the company said in a release.

Bajaj reported a 67 per cent growth to 19,469 units, and dislodged Ola to take the second spot. Ather took the third spot with 13,933 units, up by 5 per cent. Ola was at the fourth spot with 13,069 units, down by 28 per cent. Hero Motocorp was fifth with 12,730 units, down by 4.37 per cent, according to Vahan data.

RBI Governor Sanjay Malhotra, however, signalled scope for easing in the coming months to support the economy from any possible hit from US tariffs.

The six-member monetary policy committee voted unanimously to keep the repurchase rate unchanged at 5.5 per cent and decided to continue with a "neutral" policy stance, giving it flexibility to move in either direction if needed in future.

The rate-setting panel, headed by the central bank governor and comprising half of external experts, had cut interest rates by a total of 100 basis points this year before hitting a pause at its previous bimonthly meeting in August.

The Reserve Bank of India (RBI) has decided to remove the ₹10,000 crore ceiling imposed on bank loans to each corporate entity and said if concentration risk increases, the regulator will take macro-prudential measures to tackle the same.

The Reserve Bank of India (RBI) is also expected to soon issue Expected Credit Loss (ECL) norms for banks and all-India financial institutions to align Indian banks’ provisioning norms with global standards.

2.South Korean electronics giant LG Electronics Inc will sell shares worth up to ₹11,628 crore through the initial public offer of its India arm, in which it will offload up to 10.2 crore shares.

This values LG Electronics India at around $8.6 billion at the upper end of the price band of ₹1080-1140 per share. The company had obtained regulatory approval for the IPO in March but in April decided to call a halt to it, citing uncertain market conditions. The issue is open October 7-9, while the anchor book is open October 6. Investors can bid for a minimum of 13 shares.

3.India's manufacturing sector expansion lost some momentum last month, slipping to its weakest pace in four months but remaining strong, while factory gate prices surged at the fastest rate in nearly 12 years to combat mounting input costs, a survey showed on Wednesday.

HSBC's India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.7 in September from August's more robust 59.3 and lower than a preliminary reading of 58.5, reflecting the slowest improvement in operating conditions since May.

4.The government on Wednesday announced a 6.59 per cent increase in the minimum support price (MSP) for wheat to ₹2,585 per quintal for 2026-27 marketing year.

The decision was taken in the Cabinet meeting chaired by Prime Minister Narendra Modi here.

Last year, wheat MSP was fixed at ₹2,425 per quintal for 2025-26 marketing year.

While a majority of economists — 24 of 39 surveyed by Bloomberg — predict the repurchase rate will remain on hold at 5.5%, 15 expect a quarter-point reduction, citing India’s growth prospects. Even many of those forecasting a hold say there’s justification to ease.

The six-member monetary policy committee, led by Governor Sanjay Malhotra, will need to juggle a number of competing objectives this week. Inflation, which is hovering near the lower end of the 2%–6% target band, is expected to ease further after recent tax cuts, while growth is likely to face a hit from US President Donald Trump’s 50% export tariffs. 

Read more here

2.The government’s push to go ‘Swadeshi’ in tech, endorsement by senior ministers, and the overall social media buzz have taken the downloads and Daily Active Usage (DAU) of Zoho’s messaging app Arattai to record highs, report Sindhu Hariharan and Rohan Das.

According to data from the market intelligence firm Sensor Tower, shared with BusinessLine, Arattai’s downloads and daily active users in India have skyrocketed — increasing by 185 times and 40 times respectively, compared to the previous week. This massive jump happened between September 21st and 27th, right after the app came under the spotlight thanks to mentions by government officials.

The instant messaging app from software firm Zoho, that is being touted as a WhatsApp rival, has seen an exponential growth across all parameters such as installs and usage, and app store rankings.

Read more here

3.South Korean consumer electronics giant LG Electronics has decided to go ahead with the initial public offer of its Indian subsidiary, and its board has approved the sale of 10.18 crore shares in the Indian unit, according to a regulatory filing.

This will translate into a 15 per cent dilution of its stake in its Indian arm, LG Electronics India Ltd, in which it will hold 85 per cent stake post the IPO.

Read more here

4.The government has placed e-commerce platforms under scrutiny as it monitors prices of daily use FMCG products ranging from shampoo to pulses to ensure that the benefits of Goods and Services Tax (GST) rate cuts are being appropriately passed on to consumers.

Authorities are monitoring whether these platforms are complying with pricing norms and not withholding the intended consumer benefits from tax reductions.

Sources said the e-commerce platforms cited ‘technical glitches’ when discrepancies in pricing pre- and post-GST reduction were pointed out.

Read more here

Donald Trump’s H-1B visa crackdown will hasten US firms’ shift of critical work to India, turbocharging the growth of global capability centres (GCCs) that handle operations from finance to research and development, economists and industry insiders say.

The world’s fifth-largest economy is home to 1,700 GCCs, or more than half the global tally, having outgrown its tech support origins to become a hub of high-value innovation in areas from design of luxury car dashboards to drug discovery.

Trends such as growing adoption of artificial intelligence and increasing curbs on visas are pushing U.S. firms to redraw labour strategies, with GCCs in India emerging as resilient hubs blending global skills with strong domestic leadership.

Read more here

That’s a wrap for today’s news. Check out the hindu businessline’s website. Thank you for joining us. stay informed and stay ahead

Tata Sons has been engaging with the regulator on several aspects of its classification as an upper layer NBFC and sources indicated a favourable response, especially its request for de-registration. There was no response from Tata Sons to a clarification request.

Jaguar Land Rover to resume production in ‘coming days’

British luxury carmaker Jaguar Land Rover (JLR) is taking steps to resume vehicle production, and as the first step will restart some sections of its manufacturing in the coming days following the cyberattack, reports Aroosa Ahmed.

“Today we are informing colleagues, retailers and suppliers that some sections of our manufacturing operations will resume in the coming days. We continue to work around the clock alongside cybersecurity specialists, the UK Government’s NCSC and law enforcement to ensure our restart is done in a safe and secure manner,” it said in a statement. 

The company stated that, as part of the controlled phased restart of operations, it is taking further steps towards recovery and returning to manufacturing its vehicles.  JLR had shut its vehicle manufacturing up till October 1 after a cyberattack.

On Sunday the UK government said it will guarantee a £1.5 billion loan to JLR, which will support its supply chain. The British luxury carmaker had suffered an overall impact on its system and plant operations due to a cyberattack that was discovered on August 30, which led to the closure of its manufacturing plants.

Read more: https://www.thehindubusinessline.com/companies/jaguar-land-rover-to-resume-production-in-coming-days/article70108403.ece 

Moody’s affirms India’s sovereign rating at ‘Baa3’ with stable outlook

Moody’s Ratings on Monday affirmed India’s sovereign rating at ‘Baa3’ with outlook stable. This is last investment grade rating by the agency which helps investors to take a decision and also impact borrowing from overseas, reports Shishir Sinha.

Earlier, S&P Global, Morningstar, DBRS, and Japanese credit ratings agency R&I had upgraded India’s rating to ‘BBB’ from ‘BBB-‘.

That’s a wrap for today’s news. Check out the hindu businessline's website. Thank you for joining us. stay informed and stay ahead

🎧 On today’s episode: the MiG-21 bids farewell after 62 years, festive e-commerce sales soar with premium buys, outward remittances take a surprising dip, and Ladakh simmers under curfew after violent protests.

Stay informed with The Morning Report — crisp business news in under 5 minutes.

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🎧 This Wednesday, we break down Jaguar Land Rover’s extended cyber-hit production pause, the rupee's record low, Karnataka’s movie ticket price cap halted, and Maharashtra’s ₹1,339 crore relief for rain-hit farmers. Stay sharp with The Morning Report — fast, focused business news in under 5 minutes.

GST rate cuts, income tax relief to have multiplier effect on GDP numbers: CEA Nageswaran

Chief Economic Advisor V. Anantha Nageswaran says the recent GST rate cuts and Income Tax relief will significantly boost GDP through a multiplier effect, with a total impact estimated at over ₹2.5 lakh crore. He called GST 2.0 a landmark reform that will drive domestic demand.

Despite concerns about a ₹48,000 crore fiscal hit from GST cuts and slower direct tax collections, he’s confident of meeting the 4.4% fiscal deficit target, citing strong non-tax revenues and festive season demand.

On Trump-era tariffs, he expects a short-term drag on growth but says GST reforms could offset the impact. Long-term, he believes India’s FDI appeal remains strong. For Q2, GDP is likely to stay close to the 7% mark, based on current indicators.

Student visa arrivals to US hit four-year low as Trump policies bite

student arrivals to the US fell 19% in August year-on-year, hitting just over 313,000 — the lowest August number since 2021.

 It marks the fifth straight month of decline, with overall student entries down nearly 12% for the year so far.

The drop is most severe among Asian students, especially from India, where arrivals plunged 46%. 

Tighter immigration rules, paused visa interviews, and increased vetting — including social media checks — have created major hurdles for applicants.

Universities now face a projected $7 billion revenue loss this fall.

 With international students contributing nearly $44 billion to the US economy annually, experts warn that continued declines could erode America’s leadership in science, technology, and innovation.

Mid-size IT firms say “no significant impact” of new H-1B visa fee

Mid-size Indian IT firms expect minimal impact from the new $100,000 H-1B visa fee, having already reduced their reliance on these visas. 

Companies like Mphasis and Hexaware report low H-1B use, limiting near-term effects, while larger firms like LTIMindtree may face bigger losses.

The sector’s shift to offshore work, which is more profitable, could offset revenue drops from fewer on-site projects. Analysts estimate a modest margin hit of 10-100 basis points by FY27, mainly affecting critical roles with no local alternatives.

Airlines on India–US routes may face more turbulence. A new $100,000 H-1B visa fee is denting travel demand. Air India, the market leader, is already grappling with airspace restrictions. Emirates and Qatar Airways trail closely behind.Tourist and student traffic has slowed, with March and June seeing notable drops.However, platforms like MakeMyTrip report a surge in last-minute US bookings, as travellers rush to beat the visa fee deadline. Still, experts expect the softness on these routes to continue as visa rules tighten further.TE Raja Simhan and Aneesh Phadnis report on the mounting pressure facing international carriers and how the new visa rules are reshaping travel demand. Read more hereOn 19 September, the US introduced a steep $100,000 annual fee for companies sponsoring H-1B visa holders, effective 21 September. Signed by President Trump, the move aims to protect local jobs but could hit Indian professionals hard — they make up over 70% of H-1B holders.Tech giants like Microsoft and Google have issued advisories. Smaller firms and start-ups may struggle with the cost.Legal experts warn of confusion and possible litigation, as many fee-related details remain unclear. However, some analysts say this could boost offshore hiring and remote work from India.Sindhu Hariharan reports on how the move is reshaping hiring strategies across the tech industry, both in the US and in India.Read more here


For many investors, small-caps are the hunting ground for the next big thing — early bets with multibagger potential. But reality paints a sobering picture.A BusinessLine Portfolio study shows that of the 4,012 small-cap stocks listed by AMFI in December 2017, only 34 graduated to mid- or large-cap status by June 2025. That’s a conversion rate of just 0.8 per cent.The data challenges the popular belief that small-cap bets regularly grow into market giants.Dhuraivel Gunasekaran breaks down why the small-cap dream rarely delivers — and what that means for retail investors.Read more here

Today’s update brings you the top stories so far, what’s coming up, and anything you might have missed.

Catch the latest on the Infosys-Cognizant legal battle set for 2027, the CBI’s new chargesheet in the NSE co-location scam, and the Income Tax Department’s probe into Marico.

India plans to raise FDI in insurance to 100%, signalling major changes for the sector and policyholders. Meanwhile, Trump’s tariff strategy faces a critical legal challenge that could put $1.5 trillion in revenue at risk. On the global front, China launches investigations into US chipmakers as high-stakes trade talks unfold.

Stay informed with sharp insights on markets, trade, and technology to start your week ahead.

Check out the top news for the day!

Joining Kamal Karanth is Prasad Panchagnula, Managing Director & Chief Business Officer, EMBARK on this episode of People@work. 

Listen in!

Founded in 2016 by Meghana Narayan and Malik, Wholsum Foods is the parent company of the children’s food brand, Slurrp Farm, and the super grain company, Mille.

The company is backed up by marquee investors including Fireside Ventures, Investment Corporation of Dubai, Sharrp Ventures, and Narotam Sekhsaria Family Office among others. It has raised about Rs 141 crore so far. In 2022, Actress Anushka Sharma came onboard as an investor as well as the brand ambassador.

The D2C company may look at raising fresh funds in the coming year, Malik said while adding that it will be done with a calibrated strategy.  Listen in to know more

Find out in the latest episode of Energonomics with Miniya Chatterji, CEO, Sustain Labs Paris, and businessline’s Richa Mishra.

(Host: Kamal Karanth, Chitra Narayanan, Production: Siddharth Mathew Cherian)

Gupta provides insightful analysis on the recent 25 basis point rate cut by the MPC. He discusses the expected impact of these cuts on retail and corporate borrowers, particularly the transmission to loan and deposit rates. The episode also explores the RBI's recent regulatory changes concerning gold loans, particularly the 75% Loan-to-Value (LTV) ratio and new operational guidelines.

Gupta shares his thoughts on how these adjustments bring more clarity and uniformity to the gold loan industry, despite initial concerns about the impact on Non-Banking Financial Companies (NBFCs). He explains how the revised LTV calculation, which includes accumulated interest, aims to mitigate risks and create a level playing field for all players in the sector. 

Additionally, the discussion touches on the expanded scope for co-lending between banks and NBFCs, including non-Pradhan Mantri Jan Dhan Yojana (PMJDY) loans. This could potentially improve the distribution of credit and lead to better collaboration between banks and NBFCs, especially benefiting smaller NBFCs with strong distribution networks but limited balance sheet capacity. 

In this EnergOnomics podcast, Businessline’s Richa Mishra, had a detailed conversation with Tracy Shuchart, senior economist at Ninja Traders on Trump’s second term and what it the implications would be for energy security, climate policies, and the future of renewable energy investments.

In this week’s People@work podcast, Kamal Karanth speaks to Dinesh Deo, CEO, Marsh McLennan Global Services (MMGS) India to know more how first impressions can go to make a lot of difference at workplaces.

Listen in!

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(Host: Kamal Karanth; Chitra Naraynan, Producer: Prethicshaa Gurumoorthy)

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(Host: Richa Mishra; Producer: Siddharth MC)

Almost immediately, Trump has rolled out a series of executive orders aimed at reversing key policies set by the Biden administration. These moves span a wide range of issues, from trade and immigration to energy and gender. 

Listen in!

Click here to read the full story.

(Narrated by Radheshyam Jadhav; Podcast Producer: Siddharth Mathew Cherian

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(Host: Vinay Kamath, Meenakshi Verma Ambwani)

Peter Jarka-Sellers, Climate and Energy Policy Professional, helps examine Trump’s energy agenda, which is expected to prioritise energy independence, economic growth, and expanded fossil fuel production—factors that will likely shape US-India energy cooperation moving forward. Tune in to understand what this means for both countries’ energy futures and global energy dynamics.

Listen in to know more.

What’s at stake this time, and how have the political dynamics in the state evolved over the last few years?

In this BL podcast, Siddharth Mathew Cherian speaks to Radheshyam Jadhav, deputy editor at businessline, who has extensively covered the issues across the length and breadth of Maharashtra. He will share his insights on what’s at stake in this election. Listen in!

In this episode of the Energonomics podcast, Richa Mishra speaks with Dr. Khondaker Golam Moazzem, a leading industrial economist and Research Director at the Centre for Policy Dialogue (CPD), a prominent think tank based in Dhaka. They discuss Bangladesh’s position on the issue and explore the potential way forward. 

Currently, all players have maintained that they continue to supply power to Bangladesh. Adani supplies from its 1600 MW Ultra supercritical power plant in Goda, Jharkhand through a dedicated transmission corridor. The plant, which was fully commissioned in July 2023 and users imported coal meets significant part of the northern Bangladeshi's power demand. It is a catch 22 situation for the Adanis as the project is not connected to the Indian network besides, It cannot be simultaneously connected to two networks. This raises the question of why the Indian government felt it was necessary to implement this change at this time.

In this episode of the Energonomics podcast, Richa Mishra speaks to former power secretary Alok Kumar, and this is what he had to say. 

While both she and her husband have denied any opacity in their dealings, SEBI has also said that Ms Buch had been making disclosures from time to time and that when necessary, she had recused herself from decisions to avoid conflict of interest. 

We spoke to TT Ram Mohan, former Professor of Economics at IIM-Ahmedabad. He says that given that this is the chair of the markets regulator, it is important to ensure that due process has been followed and that appropriate disclosures have been made. The government, he says, must satisfy itself that no conflicts of interest have been entertained. If disclosures have indeed been made, the question is, to whom, he asks. “Is it to the SEBI board of directors? To help answer these questions, the government must form a committee and satisfy itself" that everything has been above board. 

Listen in for more from Prof. Ram Mohan. 

(Host: Bharatkumar K, Producers: Rowan Barnett, Anjana PV, Siddharth Mathew Cherian)

The podcast highlights the frequency and severity of these natural disasters, attributing them largely to the monsoon season. Kurian explains that while the north of Kerala is severely affected, the threat extends to other districts such as Idukki, which are part of the Western Ghats and thus prone to landslides and flooding due to heavy rainfall.  

He discusses the critical role of the monsoon, noting that July and August are the wettest months, often leading to extreme rainfall events. These events cause the hillsides to become unstable, resulting in landslides. Kurian recounts significant past incidents, such as the 2018 landslide in Wayanad that killed nine people and destroyed 15 houses, and the 2019 event in Puthumala, which resulted in 17 deaths and significant destruction. 

Kurian explains that the state and central governments are responsible for inadequate preparation and response. He points out that the Kerala Government has not declared ecologically sensitive areas as required, allowing construction and development in vulnerable regions. Despite repeated warnings, the state government has not taken sufficient proactive measures, leading to a cycle of unpreparedness and reactive responses. 

He also addresses the central government's role, noting that while funds are allocated for disaster management, they are insufficient and often underutilised by the state government. For instance, in 2021, out of the 59 crores allocated, only 40 crores were used. Kurian emphasises the need for better fund utilisation and more comprehensive preparedness measures, including increasing the number of rain gauges and improving flood management strategies. 

The podcast stresses the importance of the Kerala Government setting its house in order before seeking assistance from the Central Government. He suggests halting illegal construction and quarrying activities in floodplains and vulnerable areas, as these increase the impact of natural disasters. He also highlights the need for proactive measures rather than reactive responses, ensuring the state is better prepared for future monsoon seasons. 

Listen in to the podcast to know more.  

In this latest episode of Energonomics Podcast, businessline's Richa Mishra and Shishir Sinha get into an interesting conversation on whether GST could solve India's rising fuel price problem.

Anushita says AI's integration into law is crucial because the legal sector has historically resisted technological advancements. The complexity of the legal system, with its dynamic and regionally diverse laws, presents a unique challenge that AI can address. 

AI, according to Anushita, functions as a highly efficient assistant for lawyers, capable of processing vast amounts of data quickly and accurately. This reduces the time lawyers spend on tedious tasks like document reviews and legal research, allowing them to focus on more strategic aspects of their work. AI can sift through extensive legal databases to find relevant information, acting like a "superpower" for legal research. 

Furthermore, AI tools keep users updated with the latest legal changes, which is crucial in a field where staying updated is mandatory. These tools are beneficial not only for seasoned lawyers, but also for law students and the general public, making legal information more accessible and understandable. For example, AI can assist small business owners in navigating legal compliances by providing easy-to-understand guidance and automated tools. 

 Anushita acknowledges concerns about AI's potential for errors, noting that while AI isn't perfect, it continuously learns and improves by processing vast amounts of information. Importantly, AI operates under human supervision, with lawyers making the final decisions to ensure accuracy and reliability. This collaboration between AI's speed and human expertise creates a powerful synergy, enhancing efficiency and reducing the risk of mistakes. 

The conversation also touches on the ethical considerations of AI in the legal field. Anushita explains that AI's ability to manage risks and avoid human biases makes it a valuable tool. AI can predict potential legal issues and outcomes based on historical data, offering insights that can guide legal strategies. 

For law students, learning to use AI is becoming essential. Anushita believes that integrating AI training into the curriculum will prepare students for legal practice. AI can simplify complex legal concepts, making them easier for students to understand and provide a solid foundation for their legal education. However, she emphasises the importance of using AI as a supplementary tool, ensuring that students still develop critical thinking skills and a deep understanding of the law. 

Anushita also discusses Lawyer Desk's AI tool, Lawbook, designed to generate essays and project drafts, saving students time and effort. While some might worry that this could reduce students' productivity and understanding, she argues that these tools provide a starting point, encouraging students to engage critically with the material and refine their work. 

Listen to the podcast to know more.  

(Host & Producer: Anjana PV)

Listen in! 

In this episode of the energonomics podcast, Richa Mishra speaks to Kabir Taneja, a fellow in the Strategic Studies Programme at the Observer Research Foundation, India, about the dynamics of the India-Iran ties and more.

(Host: Richa Mishra; Producer: Renil S Varghese.)

In this episode of the energonomics podcast, Richa Mishra speaks to Talmiz Ahmad — former Indian Ambassador to Saudi Arabia, Oman (2003–04), and the UAE (2007–10) on what has brought about this change in India’s foreign policy and more.

(Host: Kamal Karanth, Producer: Anjana PV)

It’s been among the most tumultuous years when it comes to health, when Covid-19 brought our lives to a grinding halt, in many ways.

But the last decade, has also seen schemes like the Ayushman Bharat (health insurance) or the Jan Aushadhi stores (that sell less expensive medicines) evolve and grow in strength. The pharmaceutical sector has built on existing legacy in supplying to the rest of the world and sectors like medical devices and diagnostics have also emerged. But there’s still much to be done.

Former Union Health Secretary JVR Prasada Rao speaks to PT Jyothi Datta, giving his take on the health and pharmaceutical sector, in the last decade.

Now, Artificial Intelligence has emerged as an ally to help people to improve their mental health. Many apps including Wysa, have been developed with the help of AI to provide mental health services. In this podcast, Anjana PV speaks to Rhea Yadav - Director Strategy and Impact, Wysa, to understand how AI can help people handle mental health.  

The podcast explains the business model of Wysa and how they use AI chatbots effectively to counsel individuals. The podcast explores the cultural and linguistic nuances of mental health support, emphasising the importance of offering services in regional languages to address accessibility barriers and cater to diverse populations.  

Rhea explains how the mental health landscape will change with the application of these technologies. She also mentions the growth of Wysa and the functioning of the app. Furthermore, she explains how they are using rule-based AI to give effective methods to improve people’s mental health.  

Listen in to the podcast to know more.  

(Host: Anjana PV, Edits: Siddharth Mathew Cherian)

The conversation explores the effects of Malayalam cinema's triumphs, from increased investments in the industry to heightened opportunities for local talent. Mantha emphasises how successful movies not only boost the film economy but also draw attention to scenic locations, potentially bolstering tourism. 

He elucidates how the success of Malayalam movies extends beyond regional boundaries, influencing the wider Indian film industry. Mantha emphasises the importance of diverse storytelling and cultural representation in catering to an increasingly aware and discerning audience. 

The podcast also touches upon the strategic release timing of Malayalam films, noting the potential impact of Thursday releases on audience engagement, particularly during extended weekends. However, he emphasises that, while release strategies may play a role, the crux of success lies in compelling content and efficient production. 

Mantha highlights the significance of Malayalam cinema's success as a testament to the power of storytelling and cultural diversity within the Indian film landscape. 

(Host & producer: Anjana PV, Edits: Siddharth Mathew Cherian)

He emphasises the importance of a balanced education system, blending theoretical knowledge with practical skills to enhance employability. Ramesh discusses the impact of macroeconomic conditions on hiring processes, noting the companies' selectiveness and the shift towards valuing practical experience. Additionally, Ramesh explores the role of student expectations, company affordability, and the increase in batch sizes in contributing to the placement challenges. 

Despite the complexities, Ramesh remains optimistic about potential rebounds and advises students to carefully consider opportunities, including those in startups, while advocating for informed decision-making. He focuses on the significance of the new education policy's emphasis on vocational training and calls for a balance between theory and practical education. 

Listen to the podcast to know more.  

(Host, producer & edits: Anjana PV)

It's the season of appraisals, where both employers and employees scrutinise each other's "say-do" ratios – the balance between promises made and promises kept.

Join Kamal Karanth, Co-Founder, Xpheno in a candid conversation with Krish Shankar, former group head of HR at Infosys and the insightful author of "Catalyze: A Playbook to Unlock People." on Appraisal season and more.

Is there a common thread of discontent running through them all? And most importantly, do we need more honest conversations in the workplace to bridge the gap between expectation and reality?

Listen in to know more.

The podcast delves into the emerging field of FemTech in India, focusing on female health technology and its significance in addressing various women's health issues. Kaur provides insights into their research process, highlighting the longstanding neglect and underfunding of women's health initiatives.  

She emphasises the need for industry growth and investment, particularly in light of the sector's absence from academic research and media coverage. Projections in the report suggest a substantial market potential for women's health and wellness products in India, with key drivers including increased awareness, digitalisation, financial freedom, and supportive government initiatives.  

However, challenges such as limited reach to rural areas, lack of investment, affordability issues, and social stigma hinder the penetration of women's wellness products. To address these challenges, Kaur recommends collaborations with NGOs, leveraging digital platforms, community outreach programs, prioritising evidence-based products, clear communication, and partnering with research institutes.  

(Host, Producer & edits: Anjana PV)

 Sindhu reveals that a staggering ₹52 crore has been spent on political advertisements from March 1 to April 9, 2024, a notable six-fold increase compared to the 2019 elections. BJP emerges as the top advertiser, followed by the Dravida Munnetra Kazhagam (DMK) and the Indian National Congress (INC). 

Sindhu provides insights into the content and targeting strategies of these parties' digital ad campaigns. While BJP emphasises video ads carrying the message of 'Phir ek baar Modi Sarkar', DMK showcases its achievements under the MK Stalin Government and promotes the 'Dravidian Model'. INC, on the other hand, focuses on questioning the reforms of the current regime with its 'Haath Badlega Haalat' campaign. 

The podcast also discusses regional-specific advertising, with the BJP increasing its ad spend in Tamil Nadu coinciding with Prime Minister Narendra Modi's visit. Additionally, Sindhu highlights the presence of other significant spenders like the YSR Congress party.

Listen in to the podcast.  

Over the years, the end-to-end production company has been delivering hit shows in the mythological and historical genres. Founded in 2007, the company is known for producing many popular shows such as "Mahabharat," “Shiv Shakti, “RadhaKrishn” and “Porus” among others, building a library of over 1000 hours of content.

In a podcast interaction with businessline, Siddharth Kumar Tewary, Founder, Swastik Products said that the company’s key focus has been to tell these epic stories with authenticity and the right balance. “It is not just about entertainment. These stories have deep impact on our lives. It is also about learning and faith. And when faith is involved as storytellers we need to be conscious of it and stay true to the core emotions,” he added.

The production company has also been focusing sharply on telling these epics in a contemporary manner. According to Tewary, one of the key factors that is also helping draw young viewers to these age-old stories is the fact that there is a lot of curiosity among the younger generation and they want to know more about their culture and their roots. “These stories are timeless. We have to ensure that we tell these stories in a manner that today’s generation can connect with them. This governs various aspects of production of the content and we ensure we focus on contemporary storytelling while keeping the core philosophy intact,” he added.

The company has also made significant investments in back-end infrastructure by setting up Swastik Bhoomi, a production studio in Gujarat spread across 25 acres with 17 shooting floors. Tewary explained that Swastik Bhoomi is enabling the company to make immersive content without any limitations. He added that it is also emerging as a shooting destination for other production companies. Talking about future plans, Tewary said that the company has been focusing on creation of original IP content " Its time that we focus on telling our local stories in a manner that they become relevant for the global audience,” he added

(Host: Meenakshi Verma Ambwani, Producer & Edits: Anjana PV)

Back in 2015, Elon Musk had expressed his interest in entering the Indian market via a tweet. 2016 and 2017 saw efforts with Tesla testing the Indian market. After seeing regulatory issues between 2021 

Deputy editor, Hamsini Karthik shares details about this possible JV and more and what this means for the Indian mobility space.

Listen in!

In this Energonomics episode, Richa Mishra interviews Vipul Tuli, Chairman South Asia, CEO Hydrogen & Middle-East, and Executive Director, UK Sembcorp Industries Ltd, and discusses where India stands in this whole debate.

Urbanisation has led to a surge in population and consumption, putting immense pressure on water resources. Industries, including large conglomerates, face business continuity risks due to water shortages, signaling the widespread impact on economic activities. Moreover, the indirect water footprint of urbanisation, such as in manufacturing processes, worsens the crisis. 

The speaker stresses on the need for immediate and long-term actions from the government. Immediate measures include transparent accountability for water usage and consumption, ensuring stakeholders are aware of their impact. Long-term solutions involve redesigning cities for water rejuvenation, prioritising sustainable practices like rainwater harvesting and wastewater treatment.  

Looking beyond Bangalore, the podcast emphasises the importance of proactive measures in other cities to prevent similar crises. Governments should enforce policies that promote water-positive approaches in urban planning and development. 

(Host & producer: Anjana PV)

He highlights the pivotal role NBFCs play in fostering financial inclusion and propelling economic growth, highlighting Mahindra Finance’s role across key segments in providing last-mile credit access. While advocating for prudent risk management practices for NBFCs and the need to adapt and innovate in order to drive sustainable growth, Raul remains optimistic about the sector's ability to navigate challenges and capitalize on emerging opportunities in the evolving landscape.

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Kamal Karanth, head of staffing firm Xpheno, speaks with Rajkamal Vempati, President & Head- Human Resources, Axis Bank, to know more about the hiring market and the challenges that lie ahead for freshers.

Listen in!

In the latest episode of the EnergOnomics podcast, businessline’s Richa Mishra speaks with Ellen R. Wald, President of Transversal Consulting, on India's goal to establish itself as a global refinery hub. 

Drawing parallels with China's refinery strategy, Ellen emphasises the critical need for investment, and a customer base for such ventures. 

Despite India relying heavily on crude oil imports, Ellen suggests that its economic structure has advantages over China's state-run model, potentially offering more profit for independent refiners. 

India's closeness to energy-demanding regions like Pakistan, Bangladesh, and Africa, along with the recent shift in European oil procurement away from Russia, provides a big market opportunity for Indian refined products. 

Diplomacy plays a key role in the energy market. Ellen shares instances where strategic partnerships between governments and businesses have led to positive outcomes for both sides. 

Listen in! 

In this episode, Anjana and Tejas talk about the current state of the Indian stock market, addressing the challenges and opportunities facing retail investors and platforms like FYERS in today's dynamic environment. 

With retail participation on the rise and global uncertainties impacting market dynamics, Tejas offers his expert perspective on what the trends seen in the stock markets today. 

From market sentiment to technological readiness, Tejas shares his insight on how FYERS is adapting to meet the needs of a growing investor base. 

The conversation also explores the performance of FYERS in 2023 and the tech features it has introduced. Tejas reflects on the company's growth trajectory, highlighting its commitment to delivering value to investors through cutting-edge technology at a time when there is a surge of retail investors and with the upcoming the General Elections. 

Sandeep’s journey is one of profound transformation. From a hard-driving CEO who neglected his health until a critical medical emergency forced him to re-evaluate his lifestyle, Sandeep emerged as a beacon of inspiration. His subsequent journey into health coaching and wellness advocacy led to the creation of his ground-breaking book, Finding the Oasis—a practical workbook addressing contemporary health challenges.

Throughout the discussion, Shubho and Sandeep traverse various facets of holistic wellness, from physical health to emotional well-being and everything in between. Sandeep shares insights garnered from his personal experiences and extensive research, emphasising the importance of sustainable lifestyle changes over fad diets or quick fixes.

The podcast delves into the broader implications of wellness beyond physical fitness, addressing mental health, emotional resilience, and social connections. Sandeep’s empathetic approach resonates with listeners as he navigates topics such as loneliness, stress management, and the pursuit of holistic well-being.

These banks were envisioned to leverage technology to offer basic banking services, focusing on financial inclusion and digital transactions.  

The story of such banks has been a mixed bag over the last decade with Paytm Payments Bank (largest of them all) facing frequent regulatory compliance challenges in recent years on various aspects including KYC issues, risk management etc.  

However, the outlook and sentiments on digital banking and payments banks have turned negative ever since the RBI imposed latest set of fresh restrictions on Paytm Payments Bank to be effective from February 29 this year. 

Although Reserve Bank of India Governor Shaktikanta Das has already asserted that there is no systemic issue flowing from the Paytm Payments Bank crisis, this episode serves as a wake-up call for India’s fintech ecosystem.  

It has highlighted the imperative of regulatory compliance, risk management, and governance for digital banking entities. 

This has far-reaching repercussions for India’s fintech ecosystem and the broader banking sector. 

The incident has raised concerns about the stability and integrity of digital banking platforms. How will it affect funding for fintechs in the coming days is a question uppermost in the minds of stakeholders and investors. Are payments banks still viable in an UPI era? Of course, RBI as regulator has been focused on protection of banking customers and has already ruled out any rethink of its interventions with regards to Paytm Payments Bank.  

Srinath Sridharan, a policy researcher and corporate adviser, helps listeners get a sense of how he sees the future of Payments Banks in the country. He takes a view that payments banks as a concept is not viable anymore in the current times when UPI is scaling newer heights. Sridharan also feels that the time may be ripe for RBI to go in for a review of the licensing framework for various categories of banks and bring necessary changes. 

Listen in to this blpodcast to know more. 

(Host: KR Srivats; Producer: Amitha Rajkumar)

Podcast Credit: Hamsini Karthik, Nabodita Ganguly and Siddharth Mathew Cherian

The state of Kerala is grappling with a significant debt crisis, prompting intense speculation regarding the implications of this budget on the common populace and various sectors. 

Vinson Kurian, consultant, businessline, dissects the nuances of the Kerala budget 2024. Vinson begins by acknowledging that despite modest revenue mobilization targets set by the finance minister, there remains skepticism about achieving them, given Kerala's historical struggle with meeting collection targets. 

However, there are notable allocations in the budget, particularly towards local bodies, which see a higher percentage of allocation compared to previous years, signaling a commitment to empower grassroots governance.  

The budget also sets an ambitious target of eradicating extreme poverty in the state by 2025. 

Vinson highlights changes in the pension scheme, with the proposal to transition from the participatory pension scheme to a new assured pension fund, subject to further committee deliberation. However, he expresses concerns over the state's tax revenue targets, which have historically fallen short of expectations.  

In terms of capital expenditure, the budget earmarks substantial funds for infrastructure projects and a construction sector revival package aimed at job creation.  

Vinson underscores the alarming figures of revenue and fiscal deficit, indicating the precarious state of Kerala's finances. Despite hints at out-of-the-box thinking and a potential Plan B for economic recovery, there's a notable absence of structural reforms in the budget. 

The discussion also touches upon the management of public funds, revealing a reliance on external borrowing, which raises questions about sustainability. With public debt soaring to 40% of the GDP and interest payment burden at 20%, Kerala faces a daunting financial landscape that warrants urgent attention. 

While the budget addresses some pressing issues, it falls short in addressing fundamental challenges, leaving Kerala's fiscal future uncertain. 

Podcast Credit: Vinson Kurian, Anjana PV.

The growth of marathons in India has been remarkable, especially considering the shift from a primarily spectator-driven sporting paradigm to a participatory sports movement. Additionally, the philanthropic element of the Tata Mumbai Marathon was emphasised, with over 270 NGOs leveraging the platform to raise funds and awareness for various causes. 

Anil emphasises the revolutionary impact of conducting an iconic marathon through the streets of Mumbai, triggering a shift in perception from mere spectators to active participants. The event's success was fuelled by five key objectives: bringing pride and prestige to the city, fostering communal harmony, promoting health and wellness, supporting charity, and boosting Indian athletics. 

The marathon's influence extends beyond running, contributing to societal well-being and inspiring individuals to embrace a healthier lifestyle. The organisers highlight the importance of sponsorship in fueling the event, with a substantial increase in investment year over year. Sponsorships, along with entry fees and merchandise sales, form the primary revenue streams for the marathon.

The discussion also touches on the role of marketing in shaping the marathon's iconic status. The marathon has become a symbol of societal impact, showcasing the power of conviction and community participation. Looking ahead, the organisers foresee continued growth in the business of marathons in India. With a surge in social consciousness, increasing emphasis on health and wellness, and a growing number of running events, the marathon industry is poised for significant expansion. Listen in.  

(Host: Anjana PV, Producer: Nabodita Ganguly)

Businesssline caught up with Dr Shilpa Vora, Chief R&D Officer at Marico to know more about how companies are navigating fast-changing consumption trends in post-Covid days. Vora pointed out that globally there has been a massive shift towards healthier food and lifestyle. She said consumers are increasingly seeking convenient options such as ready-to-cook and ready-to-eat options that are healthier but can also be customised as per their needs.

Looking at prominent trends that are expected to gain ground in 2024, she said companies are expected to inculcate millets into their products not just in India but across the world. “ As consumers seek more healthy food options, taste remains non-negotiable. We will also see more experimentation in terms of flavours. More and more international flavours are expected to be added to the India repertoire,” Vora explained.

On Marico’s R&D strategy, she said that agility is a core tenet. “Saffola stands for taste-forward “better-for-you” products. We do a lot of social listening and deep consumer interactions to gain insights and then develop our products based on those insights. For instance: When we launched Saffola Oats back in 2012, we realised that Indian consumers go for warm breakfast that is savoury and not sweet. That led us to build this whole category of instant masala oats.”

With a lot more focus on STEM education for women, Vora pointed that concerted efforts from various companies have ensured there are a lot more women talent now in the R&D spaceits heartening to see a lot more women being part of R&D teams in FMCG companies compared to when she started out in the field

Dr Madhuri points out that, while some may experience prolonged and severe pain due to conditions like adenomyosis or endometriosis, blanket menstrual leave policies may not be universally beneficial.

She highlights the availability of effective medications, ranging from mild analgesics to advanced treatments, which can alleviate menstrual discomfort for 80-90% of women. Dr Madhuri requests for an individualised approach to menstrual leave, considering the varying needs of women based on their health conditions.

The conversation delves into the changing perceptions of menstruation, noting stark differences between rural and urban areas. Rural women often view menstruation as a divine and anticipated occurrence, while urban women are well-informed and open about discussing it. Dr Madhuri acknowledges the positive shift in attitudes, attributed to comprehensive sex education.

Addressing the use of pills during menstruation, Dr Madhuri assures that, when prescribed by a gynecologist, these medications are safe and essential for managing conditions like dysmenorrhea. She advocates for open-mindedness among parents and society to allow young girls to manage their pain effectively.

She also touches upon the potential impact of menstruation-related issues on women’s productivity at work. Discrimination based on menstruation could disincentivise employers from hiring female workers, perpetuating gender bias.

The conversation concludes with a discussion on menstrual hygiene in India. Dr Madhuri commends recent initiatives like reduced GST on sanitary napkins and the availability of affordable pads through government schemes. She stresses the importance of comprehensive sex education, awareness, and eradication of social taboos for holistic menstrual hygiene practices across the country.

In a compelling discussion shedding light on the recent downturn in placements at India's premier B-Schools, Ayush Arya engages with two prominent YouTube personalities, Abhishek Jain, renowned as The IIM Guy from IIM Visakhapatnam, and Keshav Grover, a recent graduate from IIM Jammu.

In this conversation, the duo shares invaluable insights into the challenges faced during on-campus and off-campus placements, the debate between specialisation and generalisation, and much more. They unravel the intricacies of navigating the corporate landscape in the midst of a global economic downturn and provide a firsthand account of their post-graduation experiences.

Nichani emphasises the growing awareness of health post-Covid-19, leading to a surge in demand for mattresses focused on comfort and quality sleep.

The discussion delves into Magniflex's innovative products, including the Ergo Tre Electric Bed, designed for enhanced comfort. Nichani reveals upcoming innovations and technologies, showcasing the company's continuous commitment to research and development.

The conversation shifts to market trends, target consumers, and affordability. Nichani highlights Magniflex's diverse consumer base, from industrialists to Bollywood personalities, and introduces an EMI scheme to make their products more accessible to the middle class.

Nichani also touches upon the mattress industry's challenges, particularly in convincing consumers to invest in quality sleep. He explains how the paradigm has shifted post-COVID, with people prioritising health and wellness.

The podcast concludes with insights into Magniflex's marketing strategy, hotel partnerships, and expansion plans. Nichani mentions ongoing discussions with top international and domestic hotel brands about partnerships. Listen in.

Read the full story here

“DINKs,” an acronym for “Dual Income, No Kids,” represents a demographic trend that has gained prominence in India and across the globe. In India, the traditional family structure has undergone significant transformation, with an increasing number of couples opting for childfree lifestyles. This phenomenon is often attributed to evolving social attitudes, changing economic dynamics, and a desire for career-focused lifestyles. DINKs in India typically comprise two working professionals, both contributing to the household income, allowing for higher disposable incomes and greater financial independence. This demographic shift has implications for consumer behaviour, as DINKs tend to allocate resources differently.

In this insightful conversation, Aarti Krishnan, Consulting Editor, businessline, and Ayush Arya delve into the intricacies of financial planning for individuals who have chosen the childless path. The podcast explores essential topics such as emergency fund size, the decision-making process behind buying or renting a home, and the intriguing concept of FIRE (Financial Independence, Retire Early) for those without the traditional responsibilities of parenthood.

Aarti Krishnan brings her wealth of expertise to the table, offering valuable insights and practical tips to help child-free individuals make informed and strategic financial decisions. Whether you’re contemplating your insurance needs, weighing the pros and cons of home-ownership, or pondering the feasibility of achieving FIRE, this episode provides the guidance you need to secure your financial future.

The discussion explores the growing consumption of YouTube on living room screens, marking a significant trend in the platform's evolution. Chatterjee emphasises the diversity in content creation and viewership, spanning various languages, genres, and verticals across the nation.

Delving into news consumption trends, Chatterjee reveals that video has become the most preferred format for consuming news content in India. This shift transcends literacy barriers, enabling users from non-urban areas to access news content on YouTube.

Talking about the monetization of YouTube shorts, Chatterjee discusses the positive trajectory of short-form video revenue, emphasising its potential contribution to the creator economy.

Addressing concerns about fake news, Chatterjee details YouTube's multi-pronged approach to ensuring platform safety. The discussion covers community guidelines, content removal, promoting authoritative sources, and upcoming measures to address synthetic content created through AI tools.

Chatterjee also sheds light on YouTube's use of AI to enhance user experiences. He highlights recent features like YouTube Create, which leverages generative AI to unlock new creative expressions and streamline the content creation process.

Chatterjee previews upcoming trends, including YouTube's focus on branded content through Brand Connect and advancements in podcasting experiences on YouTube Music. He also mentions YouTube's global milestone of 80 million paid subscribers, showcasing its popularity in the music and premium content spaces. Listen in.

1. The Banking Crisis:

The podcast identifies the banking crisis as the most significant event of the year. The collapse of Silicon Valley Bank triggered a domino effect, threatening Credit Suisse. Hari Vishwanath emphasises the severity of the event and acknowledges the swift response of central banks, drawing parallels with the 2008 financial crisis.

2. AI Boom and Magnificent 7:

The discussion looks at the global impact of the AI boom, citing NVIDIA’s historic results that led to a near trillion-dollar rally. The emergence of the “Magnificent 7” in June 2023 reshaped investor sentiment, influencing both global and Indian markets. The discussion explores the potential implications for Indian IT stocks amid the AI wave.

3. Bond Market Volatility:

The return of bond vigilantes marked unprecedented volatility in the bond market. The podcast reflects on the unexpected twists in bond market dynamics and the interplay between hope and fundamentals.

4. Indian Markets and Bonds:

The conversation extends to the impact of global events on Indian markets. Despite challenges, Indian IT stocks showcased resilience. The opportunities in the Indian bond market are explored, with a nod to favourable conditions for investment and potential rate decreases in the upcoming year.

Read the full story here

Listen in to know more.

In this podcast, Anubhav emphasises that this policy is not a recent ploy for attention but has been in practice for three months with remarkable results. The decision arose from an open debate within the company after a team member expressed the need for a menstrual leave policy. The core principle is simple: any woman experiencing menstrual pain or discomfort can opt for paid leave. Despite initial concerns about potential misuse, only a single female employee has availed of this benefit in the past three months, showcasing the effectiveness of the policy. 

The podcast also explores societal perceptions and challenges surrounding women's willingness to take such leaves and how this inclusive policy has led to an increase in job applications from women. Anubhav agrees in the podcast that he has received more job applications from women after implementing this policy.  

The conversation broadens to discuss the overall need for inclusive workplace policies, transcending menstrual leave, and how Chai Sutta Bar fosters a culture of creativity, accountability, and equality. Anubhav challenges conventional thinking by advocating for equal consideration of men in matters such as paternity leave, emphasising a holistic approach to employee well-being. He also shares insights on the positive reception of Chai Sutta Bar's initiatives, signalling a potential shift towards more inclusive corporate cultures in India.  

Listen to the podcast now.  

Vinson breaks down the formation of cyclones in simple terms, emphasising the role of low-pressure areas over the ocean. He explains how the Coriolis force and warm ocean waters contribute to the swirling motion of air, eventually leading to the development of cyclones. The discussion extends to the factors influencing cyclone intensity, ranging from low-pressure areas to warm tropical oceans, and the crucial role of moisture.  

The conversation then shifts to the impact of climate change on cyclones. He provides insights into studies suggesting an increase in cyclone intensity due to global warming, highlighting the link between rising ocean temperatures and the enhanced availability of moisture. Vinson explores the nuanced dynamics of cyclones in the Arabian Sea versus the Bay of Bengal, showcasing how climate models project changes in frequency, duration, and intensity.  

As the discussion unfolds, he sheds light on cyclogenesis, the birth of cyclones, and the environmental factors crucial for their formation. The dialogue seamlessly transitions to the warming of oceans and its contribution to cyclone strength, emphasising the role of ocean temperature and wind shear. He also touches upon the potential impact of climate change on cyclone frequency, sharing projections about fewer cyclones but increased intensity.  

The podcast also explains about coping mechanisms and infrastructure in place to mitigate the impact of cyclones in India. Vinson discusses the significant improvements made over the years, citing the National Disaster Management Authority, the Indian Meteorological Department (IMD), and the National Cyclone Risk Mitigation Project. He highlights the role of last-mile connectivity, structural measures, technical assistance, and project management in enhancing the country's resilience against cyclones. Vinson also explains how IMD's cyclone early warning capacity has evolved over the years. 

Tune in to the podcast now!

Jyothi explains that the JN.1 variant is a sub-variant of the SARS-CoV-2, which initially caused the pandemic. The variant is considered a part of a lineage that includes well-known variants like omicron. Currently, health authorities such as the Union Health Ministry of India, WHO, and CDC suggest that there is no significant increase in public health risk from the variant based on available evidence. 

The classification of JN.1 as a variant of interest rather than as part of a larger family of variants is highlighted in this podcast. This change in classification is attributed to a spike in cases linked to the JN.1 variant. The discussion moves on to the situation in India, where the first case of the JN.1 variant was detected in Kerala. 

Jyothi emphasises the need for surveillance and precautionary measures in response to the detection of the variant in India, despite the absence of a call for panic. She also states that current vaccines are seen to protect against severe disease and death, and there is no widespread call for booster shots at the moment. However, she acknowledges that vulnerable populations, such as those with weakened immune systems, may need to consult their doctors regarding booster shots. 

The podcast also dives into the possibility of future variants and the importance of continuing basic public health measures. Jyothi emphasises the need for common sense in navigating the upcoming festive season, advocating for handwashing, mask-wearing, and other preventive measures. 

Tune in to know more about the JN.1 Variant. 

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The Indian government is bring a significant changes to the post offices after a 125 years since the enactment of the India Post Office Act in 1898. In this podcast, Shishir Sinha and V Nivedita discuss the nuances of recently Post Office Bill, 2023.

The government’s rationale behind bring in a bill to regulate post offices is that nature of the kind of businsesses these office do have evolved significantly. The current act, Post Office Act of 1898, is from the colonial era. The key amendments in the new bill include the power to intercept, open, or detain parcels suspected of carrying illegal items in the interest of national security. It also has new regulations in place for payments of duties and recovering unpaid amounts. The bill also exempts the post office and its officers from liability for losses, delays, or damages incurred during their services. The bill designates the post office as the exclusive entity for issuing postage stamps.

While these changes aim to enhance the efficiency and security of postal services, concerns arise regarding potential violations of privacy and freedom of expression. However, the government assures that subordinate legislations, including rules and regulations, will address these apprehensions. The impact of these amendments on individuals’ lives remains a subject of debate, with a need for a delicate balance between security measures and safeguarding individual rights. Tune in to the podcast now.

Hari Viswanath, Deputy Editor, bl portfolio joins Nabodita Ganguly to talk about how one can tap the opportunity that AI offers, whether an investor should look out for AI-related stocks, and more.  

AI's fast-paced development is prominent, particularly at the enterprise level. Viswanath emphasizes that companies are leveraging AI services for automation, impacting various sectors, including social media marketing. 

The dialogue delves into concerns about transparency in AI companies, with speculation arising from the temporary removal and subsequent reinstatement of Sam Altman (CEO, OpenAI), a notable figure in the AI realm. This raised questions about the need for clear communication and governance within the industry. 

 The podcast also touches upon international collaboration on AI regulation, particularly focusing on India's readiness for AI-related challenges and the potential for neo-colonialism. The significance of collaboration, inclusion, and robust governance frameworks in AI development was underscored, aligning with recent global initiatives. 

The discussion concludes by reflecting on the perennial question of AI's impact on employment. Acknowledging the potential for job transformation, the conversation encouraged individuals to adapt and upskill, highlighting the positive aspects of AI in overcoming weaknesses and enhancing productivity. Tune in for a comprehensive overview of the evolving AI landscape and its multifaceted impact. 

CK Kumaravel, co-founder and CEO of Naturals Salon & Spa, speaks to businessline about why their recent deal with Reliance didn’t work out, the trends in the beauty industry post-pandemic, and the company’s expansion plan.  

Regarding the potential acquisition by Reliance Retail, Kumaravel explains the reasons behind calling off the deal, citing differences in valuation and a lack of mutual interest. The focus is placed on Naturals' commitment to its current momentum, with the opening of numerous salons and the launch of a new beauty and retail concept called Beauty & Essentials.  

Kumaravel highlights the emergence of a new trend where people seek specialised services from beauty specialists, moving away from traditional generalists. The discussion also touches upon the expansion plans of Naturals, with the opening of salons in Dubai and other international locations. 

Kumaravel emphasises the changing dynamics in the beauty industry, with an increased frequency of salon visits and a rise in average bill values. The gig economy is identified as a significant factor contributing to increased employment opportunities and income levels in the beauty sector. The conversation also touches on the challenges faced during the COVID-19 pandemic and the subsequent recovery of the industry. Listen in.  

In the latest episode of EnergOnomics podcast, Richa Mishra talks to Harish Bijoor, Brand & Business strategy specialist, and Neha Kumar, Head of South Asia Programmes, Climate Bonds Initiative, about greenwashing.

businessLine's Senior Associate Editor, Lokeshwarri SK, explains that social stock exchanges, such as those affiliated with BSE or NSE, facilitate connections between these entities and donors, providing visibility and credibility to the listed social enterprises. The recent reduction in the minimum issue price and application requirements makes these instruments accessible even to retail investors, allowing wider participation in philanthropy.

The discussion delves into the benefits of such instruments for donors and emphasises the increased transparency and credibility of social enterprises. Lokeshwarri highlights the recent milestone of Unnati, a not-for-profit organisation issuing India's first zero coupon zero principal instrument, on the social stock exchange. The funds raised by Unnati will be utilised to train and place underprivileged youth, setting a benchmark for similar initiatives in the future. As interest grows, it anticipates a surge in listings on social stock exchanges, signalling a positive shift in philanthropic dynamics. Listen in.

Regarding the acquisition deal, Madhusudanan mentions that it involves a cash-plus-stock arrangement with an additional earn-out for founders over the next few years. The integration process will take time, with teams and sales efforts gradually merging.

When asked about data privacy concerns, Madhusudanan explains their role as a technology provider to banks. They don't directly handle consumer data but enable banks to use it responsibly, always respecting consent.

The conversation explores the company's role in addressing challenges such as fraud in the financial sector. Madhusudanan explains how they serve as a platform for digital banking and facilitate partnerships between banks and fintech companies to enhance the customer experience and operational efficiency.

The interview concludes with Madhusudanan discussing the company's support for moonlighting, allowing employees to pursue their passions alongside their jobs. He envisions a future where companies need to be more accommodating to attract and retain top talent. Madhusudanan briefly outlines the company's plans, aiming to break even by the year's end and considering an IPO in the next two to three years as part of their long-term vision.

In this podcast, Nivedita interviews Sinha, a witness to the incident, who describes the breach during the parliamentary session's zero hour. Two individuals entered the Lok Sabha, releasing yellow smoke and shouting slogans advocating dictatorship and the protection of the constitution. Sinha recounts the chaos and the subsequent arrest of four individuals, two from inside and two from outside the Parliament.

The slogans included calls for dictatorship and claims of patriotism. With 40–50 MPs present, including a few ministers on roster duty, the intruders attempted to approach the front row.

Sinha highlights the professional nature of the intrusion and expresses concern about the incident, drawing parallels to his experience during the 2001 terror attack. When asked about security measures, he notes advancements such as barcode readers and holograms on passes, indicating a likely increase in security measures following this breach. Listen in.