13 hours ago

The Reserve Bank of India is reviewing how major banks unwound large rupee arbitrage positions after directing trades worth up to USD 40 billion to be reversed to support the currency. The move followed pressure on the rupee due to global tensions and foreign fund outflows. The RBI is examining whether banks shifted positions to corporate clients during the process, potentially affecting its efforts to improve dollar liquidity. The review also focuses on compliance with rules restricting speculative forex activity. The development signals tighter oversight of currency markets as the central bank works to manage volatility and stabilise the rupee.Read more

16 hours ago

Piper Serica has invested nearly INR 210 crore across 33 startups through its Category I AIF, with the remaining INR 63 crore set to be deployed in the coming months. The SEBI-registered fund focuses on early-stage, technology-driven companies in sectors such as deeptech, fintech, artificial intelligence, defence, and semiconductors. Its portfolio includes startups like Alt Mobility and Sensesemi, reflecting a strong focus on innovation-led businesses. The firm follows a sector-focused strategy, backing founders building intellectual property and addressing structural market gaps, as India shifts towards capability-driven growth across emerging industries.Read more

19 hours ago

The Government of India has increased windfall taxes on diesel and aviation turbine fuel (ATF) exports to manage domestic supply amid rising global oil prices. The levy on diesel exports has been raised to INR 55.5 per litre, while ATF exports now attract INR 42 per litre. The move follows crude prices crossing USD 100 per barrel due to supply disruptions in the Strait of Hormuz. The government has also capped monthly ATF price increases for domestic airlines to control airfares. The decision highlights efforts to balance exports with domestic fuel availability during ongoing global energy volatility.Read more

13 Apr 2026

India received the highest number of regressive tax recommendations from the IMF between 2022 and 2024, according to an Oxfam report analysing guidance given to 125 countries. The study found that a majority of tax advice for low- and middle-income nations placed a heavier burden on lower-income groups, while high-income countries received more progressive recommendations. South Asia recorded the highest share of such guidance. The report also noted limited focus on wealth taxes despite rising global inequality. Oxfam has called for more progressive tax policies, urging greater emphasis on taxing high-income individuals and reducing reliance on consumption-based taxes in developing economies.Read more

13 Apr 2026

Vietnam-based conglomerate Vingroup has entered into a memorandum of understanding with the Government of Maharashtra to explore investments worth USD 6.5 billion across multiple sectors in the state. The proposed investments include large-scale urban development projects near Mumbai, electric mobility initiatives and renewable energy infrastructure. The company is evaluating integrated townships spanning around 1,000 hectares with an estimated outlay of USD 5 billion, alongside plans to deploy 60,000 electric taxis. The agreement aligns with Vingroup's broader India expansion strategy, following its presence in Tamil Nadu and planned investments in Telangana, and is expected to generate significant employment over the next few years.Read more

13 Apr 2026

The Maharashtra government has approved the acquisition of 28.84 acres of land owned by BSNL and MTNL in Borivali, Mumbai, for developing affordable housing under the Pradhan Mantri Awas Yojana. The land, located at Gorai and Shimpoli, will be acquired at ready reckoner rates for INR 729 crore. The project is expected to deliver over 1,000 housing units. The decision was taken at a meeting of the Maharashtra Housing Development Authority chaired by Chief Minister Devendra Fadnavis. The move forms part of the state's efforts to utilise public land parcels for affordable housing development in high-density urban areas.Read more

13 Apr 2026

Equity benchmark indices Sensex and Nifty fell sharply in early trade, tracking global market weakness amid rising geopolitical tensions and a surge in crude oil prices. The decline follows stalled US-Iran negotiations and concerns over disruptions in the Strait of Hormuz, pushing Brent crude above USD 100 per barrel. All Sensex stocks opened in the red, with key sectors facing selling pressure. Asian markets also traded lower, reflecting cautious investor sentiment. Analysts highlight that higher oil prices could impact inflation and corporate earnings. Despite this, foreign institutional investors remained net buyers in the previous session.Read more

13 Apr 2026

The Asian Development Bank has suggested that India can strengthen its social protection system by adopting an integrated framework that brings together pensions, health insurance and disability coverage. The approach aims to reduce duplication, improve beneficiary targeting and make better use of public funds. It also recommends expanding direct benefit transfers, shifting subsidies towards investment-led support and introducing impact assessments. These measures can help improve fiscal efficiency while ensuring support reaches the right groups and freeing resources for infrastructure and long-term growth.Read more

13 Apr 2026

Unite Group is planning to accelerate the sale of lower-yielding student housing assets as it sharpens focus on higher-return properties near top UK universities. The company has completed or initiated disposals worth GBP 130 million (USD 174.42 million) and is preparing an additional GBP 500 million pipeline for sale over the next 6 to 12 months. Despite softer international student demand due to visa changes and rising education costs, Unite expects occupancy and rental growth to remain within its projected range, supported by strong pre-bookings.Read more

Bangalore News Desk

13 Apr 2026

AstraZeneca India has planned to sell its 64-acre manufacturing facility located in North Bengaluru for around INR 3,400 crore. The decision is part of a broader global restructuring exercise by its UK-based parent company, which is reviewing its manufacturing and supply network across markets. The asset sale reflects a continued focus on streamlining operations and monetising non-core infrastructure. The Bengaluru site, long associated with the company's production activities, is now being evaluated for divestment as AstraZeneca strengthens its focus on research, innovation, and digital healthcare capabilities in India and other key markets.Read more