Business
RBI To Roll Out Rs 10, Rs 20 Polymer Notes In Rs 3,000 Crore Field Trial; Centre Says Paper Currency Stays
NEW DELHI: The Reserve Bank of India (RBI) will conduct field trials of 100 crore polymer banknotes each in the Rs 10 and Rs 20 denominations, amounting to a total value of Rs 3,000 crore. In a written reply, Minister of State for Finance Pankaj Chaudhary said the RBI...
House Panel Seeks Curbs On ‘Non-Scheduled’ Drug Prices
NEW DELHI: A parliamentary panel has asked the government to push for tighter regulation of non-scheduled medicines, noting they account for 82% of India’s pharma market by value and largely remain outside direct price control of the National Pharmaceutical Pricing Authority (NPPA). In its action-taken report, the standing committee...
Producer Price Index To Be Used For GDP Deflation
NEW DELHI: In a move to improve how India compiles its Gross Domestic Product (GDP), the government will use the output Producer Price Index (PPI) for deflation in annual and quarterly GDP data, said Saurabh Garg, secretary, Ministry of Statistics and Programme Implementation (MoSPI). “The ministry is planning to...
RBI Leans Harder On Forwards To Defend Rupee
MUMBAI: The Reserve Bank of India’s reliance on the forward market to manage the rupee has become increasingly pronounced, with its net outstanding forward dollar sales touching a record $106.6 billion at May-end. The scale of the position underscores how forwards have become central to the central bank’s currency-management...
US Tariff Plan Wakes Up Indian Pharma To Diversify, Innovate: Experts
NEW DELHI: India’s pharmaceutical industry should treat the proposed US tariffs on imported generic medicines as a wake-up call to reduce dependence on a single export market, diversify globally and accelerate innovation while ensuring uninterrupted access to affordable medicines, industry leaders and healthcare experts said. US President Donald Trump...
CBDT Issues Guidance Note On Crypto-Asset Reporting Under I-T Act, 2025
NEW DELHI: The Central Board of Direct Taxes (CBDT) has issued a 198-page guidance note to help reporting crypto-asset service providers (RCASPs) comply with their reporting obligations under the Income-tax (I-T) Act, 2025, as India moves towards implementing the Crypto-Asset Reporting Framework (Carf), developed by the Organisation for Economic...
MCE-Linked Capital Expenditure Likely To Reach ₹10 Trillion By 2030
NEW DELHI: India’s annual capital expenditure (capex) across mining and construction equipment (MCE)-linked sectors is set to jump to ₹10 trillion by 2030, almost double the capex of ₹5 trillion achieved in 2025, according to a joint report published by Confederation of Indian Industry (CII) and accounting and consultancy...
Govt Allows Amazon And Flipkart To Build Inventories For Exports
NEW DELHI: The government on Thursday allowed foreign owned retail e-commerce entities to build their own inventories exclusively for exports of goods manufactured and produced in India, which is likely to benefit the US based online retail giants like Amazon and Walmart owned Flipkart. Through press note 3 of...
IMF Urges Stronger AI Safeguards As India Deepens Financial Sector Adoption
NEW DELHI: The International Monetary Fund (IMF) has called on central banks globally to strengthen oversight of artificial intelligence (AI) as its rapid adoption transforms trading, lending and financial supervision, warning that inadequate governance could amplify systemic risks and cyber threats. “Under normal market conditions, the effects (of AI)...
Alarm Bells Sound For India As Brent Hits $100 Again
NEW YORK: Brent crude touched $100 a barrel on Thursday, its highest since May 22, as disruptions across the Strait of Hormuz, Red Sea and Black Sea tightened supplies, threatening to raise India’s crude, freight, tanker and insurance costs. Unless the situation de-escalates soon, India’s fiscal pressures, which seemed...
SEBI Seeks To Woo Wealthy Investors With MF-Only PMS
MUMBAI: In a move to attract affluent investors to mutual funds, the Securities and Exchange Board of India (Sebi) on Thursday proposed creating a mutual fund-only portfolio management service (MF-PMS) category. Under the proposed framework, portfolio managers will invest exclusively in mutual fund products, with the minimum investment threshold...
Kusha Maiden Test Places India In Elite Long-Range Air Defence Club
BHUBANESWAR: India took a major leap towards self-reliance in strategic air defence with the maiden flight test of the indigenously developed long-range surface-to-air missile (LRSAM) Kusha from a defence test facility off the Odisha coast on Thursday. Developed by the Defence Research and Development Organisation (DRDO), the most advanced...
India’s GDP Likely Grew 6.4-6.6% In Q1 FY27 Despite Cost Pressures: ICRA
NEW DELHI: Rating agency Icra on Wednesday said India’s economy likely expanded in the range of 6.4-6.6 per cent in the first quarter (April-June) of FY27, despite elevated energy prices and limited input availability weighing on the margins of key sectors, after economic output exceeded expectations in the previous...
Foreign Investors Return Shows Renewed Confidence In India: RBI
MUMBAI: The recovery in foreign investment, spanning both portfolio and direct investment, in recent months signals a revival of confidence in the Indian economy, which remains among the fastest-growing major economies globally and has sustained momentum in economic activity through June, according to the latest State of the Economy...
Top OMCs Post Losses With Government Weighing Relief Measures
NEW DELHI: State-run oil marketing companies (OMCs) Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) reported steep losses for the April-June quarter, reflecting the impact of selling petrol, diesel and LPG below market rates as crude prices remained elevated amid the West Asia conflict. HPCL on...
DRDO Signs Contracts To Develop Six AEW&C MKII Spy Aircraft For The Indian Air Force
NEW DELHI: The Indian Air Force’s eye in the sky capability is expected to get a significant boost, with the Defence Research and Development Organisation (DRDO) signing two separate contracts to convert six A321 commercial aircraft for the Airborne Early Warning & Control (AEW&C) MKII programme. All six spy...
Markets Tumble As Crude Spike, Geopolitical Risks Hit Sentiment
MUMBAI: Indian equity markets closed sharply lower on Wednesday, July 22, 2026, as investors turned cautious amid escalating geopolitical tensions in West Asia and a fresh surge in global crude oil prices. The sharp rise in oil prices rekindled concerns over inflation, India’s import bill and the potential impact...
Oil Prices, Weak Monsoon Pose Biggest Risks To India’s FY27 GDP Growth: IMF
NEW DELHI: India’s GDP growth in 2026/27 faces key downside risks from a widening war in the West Asia that is driving up oil prices and a monsoon weakened by the El Nino weather effect, an International Monetary Fund official said. Asia’s third-largest economy imports almost 80% of its...
