Business Standard
Telecom players weigh tariff hikes ahead of Jio IPO
India’s largest mobile operators are weighing a fresh round of headline tariff increases over the next two quarters, as Reliance Jio, Bharti Airtel and Vodafone Idea seek to bolster their return on investments ahead of a wave of capital spending,...
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US, EU strongly criticise India’s ‘trade barriers’
The United States (US) and the European Union (EU), India’s two largest trading partners, have flagged a range of regulatory and non-tariff barriers that they say are undermining the benefits of India’s efforts to open its economy and integrate with...
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Western freight corridor goes all the way, to cut transit time 60%
Prime Minister Narendra Modi dedicated the ~73,000 crore Western Dedicated Freight Corridor (DFC) to the nation on Tuesday, closing a two-decade chapter in India’s infrastructure history — one that spanned 2,800 kilometres (km) and three prime...
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Interest limited, govt to review export schemes
The government is set to review the over ~25,000 crore Export Promotion Mission (EPM) rolled out in February 2026 after finding that exporters showed substantial interest only in two out of its 11 schemes, three persons aware of the development...
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Retail share in MF pie shrinks for 2nd year; HNIS ramp up bets
Retail investors’ share in mutual fund (MF) assets under management (AUM) has fallen for a second straight year, even as gross systematic investment plan (SIP) inflows continued to inch up, as weaker equity markets eroded the value of their holdings....
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30-day VRRR increases odds of rate hike in Oct
The chances of an interest rate hike, the first of this cycle, at the next monetary policy review scheduled for October 5-7 have increased after the Reserve Bank of India announced a 30-day variable rate reverse repo (VRRR) auction for a notified...
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1991 liberalisation made a break with the past: C Rangarajan
C Rangarajan, former governor of the Reserve Bank of India and chairman of the Economic Advisory Council to the Prime Minister, was a key member of the team that brought in the reforms in July 1991. As RBI deputy governor at the time, he oversaw a...
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FCNR(B) haul soars to $127 bn on final sprint
Inflows through the Reserve Bank of India’s (RBI’S) concessional swap facility reached $136.4 billion by August 31, with banks mobilising $127.2 billion in foreign currency non-resident (bank), or FCNR(B), deposits — far exceeding late market...
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Price decline lifts manufacturing’s real growth
Nominal growth in various segments of the economy is generally higher than real growth. However, that was not the case for manufacturing in the first quarter of the current financial year. Manufacturing grew 7.7 per cent at current prices, compared...
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7.8%: Q1 GDP rise beats hopes
Outpacing expectations by most forecasters, India’s economy grew at a robust 7.8 per cent in the June quarter of FY27, compared with 8.6 per cent in the preceding March quarter of FY26, despite geopolitical headwinds arising from the West Asia crisis,...
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‘Incomplete 1991 reforms failed to foster India’s industrialisation’
The 1991 reforms resulted from crisis management efforts spanning multiple governments, says Deepak Nayyar, who was the chief economic advisor to the government in the finance ministry during the governments led by V P Singh, Chandra Shekhar and P V...
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From BOP crisis to record reserves, RBI’S forex strategy pays dividends
From dwindling to just $1.2 billion in mid-1991 — barely enough to pay for a few weeks of essential imports — India’s foreign exchange (forex) reserves are at a record high today. The latest data released by the Reserve Bank of India (RBI) shows that...
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Govt pulls the plug on ECLGS; banks in a fix
The government has terminated the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 in just over three months of its launch, after the allocated ~2.5 trillion credit guarantee was fully exhausted. The scheme, launched on May 8 to help businesses...
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‘Neither Rao nor Singh could have brought in the 1991 reforms alone’
P Chidambaram served as the minister of state for commerce with independent charge in P V Narasimha Rao’s government when India rolled out the 1991 reforms. New trade and industrial policies were part of that package. Chidambaram reflects on what led...
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Indian basmati may get caught in US ‘economic onslaught’ on Iran
The Donald Trump administration’s “Operation Economic Outcast” — aimed at strangling the Iranian economy after nearly six months of war failed to deliver a decisive military outcome — could further squeeze India’s already dwindling trade with Iran and...
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Bombay Club fears were misplaced; family businesses raked it in after reforms
On November 10, 1993, a group of eight industrialists met the then finance minister Manmohan Singh and handed over a note raising concerns over the potentially adverse impact of the economic liberalisation of 1991 on their businesses. Referred to as...
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Vi close to securing SBI loan, but on a condition
India’s third-largest mobile telecom operator, Vodafone Idea (Vi), is believed to have moved closer to securing funding for its capital expenditure plan, with the country’s largest lender, State Bank of India (SBI), agreeing to sanction its share of...
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Home ministry asks Google to remove fake bank pages on Firebase
The government has asked Google to take down several Firebase web development accounts impersonating the websites and mobile apps of prominent public- and privatesector banks and other financial institutions, according to sources. The notices, sent by...
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Kolkata’s tryst with reforms: IT, retail gained but past glory elusive
In September 1994, West Bengal’s Left Front government attempted to turn the page on its economic record. Three years into India’s economic liberalisation, as the licence raj was unravelling, Chief Minister Jyoti Basu signalled a tentative opening to...
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Sailors weigh safe harbour against risky passage with higher pay
A seafarer can now choose to disembark before a ship enters the Strait of Hormuz. Another may refuse a voyage altogether and wait for a safer assignment. Those who agree to sail through the war zone, meanwhile, can command bonuses worth several months...
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More cash, less usage pose challenge for RBI
Despite the declining share of cash in individual transactions amid a growing adoption of digital payments, currency in circulation (CIC) continues to grow at double-digit rates. This combination is making future cash demand harder to predict and is...
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New factories, aircraft, AI hubs to test Tata group’s funding muscle
India’s biggest conglomerate is entering a capital-intensive investment cycle. In the first of a two-part series, Business Standard examines the funding needs of Tata Electronics, Air India, Agratas and Tata Digital — and the role Tata Sons may play in...
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Banks race for $ deposits as RBI curtails FCNR (B) window
After the Reserve Bank of India’s (RBI’S) surprise decision on Friday to close a concessional dollar-rupee swap facility earlier than originally announced, banks are preparing to intensify mobilisation of foreign currency non-resident (bank), or FCNR...
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Inflows over $52 bn, RBI opts to shut FCNR(B) tap
The Reserve Bank of India (RBI) has decided to close its swap facility for foreign currency non-resident (bank), better known as FCNR(B), deposits one month ahead of schedule as inflows have risen rapidly, with banks already mobilising $52.3 billion...
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Tata Sons’ search for chair faces SRTT bump
The day after Bombay House shook the corporate world and beyond with the announcement of N Chandrasekaran (or Chandra as he’s popularly called) stepping down as Tata Sons chairman, the action shifted to Tata Trusts, the principal shareholder of the...
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Chandra decides to leave Bombay House
For N Chandrasekaran, who sent out a letter announcing his exit as the Tata Sons chairman to the board of directors at 11 am on Wednesday, the last six months may not have been easy. The short letter, summarising all the important points in four...
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Harness AI, build human oversight: RBI guv to banks
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Tuesday appealed to banks to harness artificial intelligence (AI) responsibly rather than treat it merely as a risk to be contained. He cautioned that responsibility for a bank’s decisions rests...
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‘Sunset industry’ that became the frame for India’s post-reforms growth
It was the steel ministry’s annual report for 1991-92 that captured a change in the mood. “Production of steel is no longer the preserve of the public sector,” it declared — a simple statement that heralded a new era. Under the New Industrial Policy...
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NSE’S closing auction skews MF NAVS, creates winners & losers
The pricing anomaly triggered by the National Stock Exchange’s new closing auction session (CAS) has spilled over into mutual fund (MF) schemes’ net asset values (NAVS), producing winners and losers among investors who transacted over the past two...
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Tax Bill to widen steps to attract foreign investment
The government is set to propose a fresh set of tax measures to attract long-term foreign investment, by widening the scope of the Income-tax (Amendment) Ordinance, 2026 to cover electronics manufacturing, data centres, rough diamond trading and...
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‘We realised after 1991 that we have to innovate, not wait in Delhi’
From the challenging pre-1991 business environment that meant waiting patiently for approvals in New Delhi corridors, to the changes that swept the IT sector after liberalisation, Infosys cofounder NR Narayana Murthy has seen it all. In an interview...
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Lotuses bloom in muddy waters
The reforms of 1991 are seen by many as having been India’s economic launch pad. In his Budget speech of July 24, 1991 — 35 years ago, today — Manmohan Singh quoted Victor Hugo to say “No power on earth can stop an idea whose time has come”, and added:...
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‘Foreign investors return shows renewed confidence’
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...
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RBI moots easier FDI compliance regime
The Reserve Bank of India (RBI) on Tuesday proposed a principle-based regulatory framework by rationalising provisions, harmonising definitions and simplifying the regulatory architecture to improve clarity and reduce the compliance burden for foreign...
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Soon, tap & pay offline via UPI
India is developing a new Unified Payments Interface (UPI) capability to enable payments without needing an internet connection on either the customer’s device or the merchant’s pointof-sale (POS) terminal, three people familiar with the matter said....
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Banks align on Vi’s projections, seek promoter promise
Vodafone Idea’s (Vi’s) lenders have broadly agreed on the telecom company’s financial projections, including its revenue outlook, after scaling back its own assumptions. However, they await more comfort from Vi’s promoters before signing off on a fresh...
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RIL beats expectations in an all-round Q1 show
Reliance Industries Ltd (RIL), India’s most valuable company, reported better-than-expected earnings for the April-june quarter (Q1FY27), driven by stronger revenue and margins in its oil-to-chemicals (O2C) and digital services businesses. Revenue,...
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Carmakers switch lanes to bring more software engineers on board
As cars evolve into computers, generating and processing enormous amounts of data every second, the automotive industry is witnessing a fundamental shift in its recruitment strategy. Apart from mechanical engineers and manufacturing specialists,...
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Chhoti SIPS gain scale, but face high exit rush
The low-ticket systematic investment plan (SIP) segment, or the ~250 investment options known as ‘Chhoti SIP’, is expanding rapidly but continues to face elevated discontinuation rates, reflecting the challenges first-time investors face in sustaining...
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RBI directs bank boards to sharpen strategic focus
The Reserve Bank of India (RBI) on Tuesday issued amended directions to rationalise the matters placed before bank boards, with the aim of enabling more effective use of board time and fostering deeper, focused engagement on strategy and risk...
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Strong funding demand lifts bank, CP borrowings
Companies, including non-banking financial companies (NBFCS), tapped both banks and the commercial paper (CP) market in the first quarter of FY27, reflecting sustained demand for funding across the economy. CP issuances totalled ~5.37 trillion during...
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Active equity NFO collection at 6-yr low in H1
Money raised through active equity mutual fund (MF) launches plunged to a six-year low in the first half of calendar year 2026 (H1CY26), as volatile markets dampened investor interest and tighter regulations weighed on the ability of fund houses to...
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Coming soon: KYC from home for NRIS, foreign nationals
The Finance Ministry and the Securities and Exchange Board of India (Sebi) are working towards simplifying the onboarding process for non-resident Indians (NRIS) and foreign nationals looking to invest in the Indian market, and could scrap the mandate...
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Sebi eyes a fresh wave of reforms for SMES
The Securities and Exchange Board of India (Sebi) is mulling a second wave of reforms for small and medium enterprises (SMES), including measures to reduce the cost of raising capital, a framework for delisting, and wider outreach to SMES across the...
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India may allow agentic Ai-led UPI transactions
India is building the digital infrastructure for allowing next generation artificial intelligence (AI) tools to make financial transactions with minimal human involvement through devices such as smart phones, relying on the country’s Unified Payments...
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SBI joins global banks to fund Sun’s Organon buy
The country’s largest lender, State Bank of India (SBI), and 10 other global banks, have combined forces to finance one of the biggest recent acquisitions by an Indian entity — Sun Pharmaceutical’s $11.75 billion buyout of Us-based Organon & Co...
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FPIS return to Dalal Street
Marking the first turn in the tide since the Us-iran conflict broke out this February, foreign portfolio investors (FPIS) have become net buyers of Indian equities since the latter half of June, reviving momentum in sectors like financial services,...
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Tata Digital appoints three new C-suite leaders amid shift in business strategy
After a prolonged restructuring that saw hundreds of layoffs and several senior executives’ exit, Tata Digital has begun rebuilding its leadership team with a series of key appointments Over the last two months, Tata Digital has on boarded three...
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Dark cloud looms over hotel revenues amid drying reservoirs, rising costs
Looming water shortages and a spike in input costs due to rising fuel prices may create operational headwinds for domestic as well as global hotel chains operating in India, possibly impacting revenue, industry executives and watchers said. Longer...
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Banks bet on Gulf, S’pore, HK to drive FCNR (B) flows
Banks are betting on inflows from the Gulf countries, Singapore and Hong Kong to drive a significant chunk of their receipts under the Reserve Bank of India’s (RBI’S) special Foreign Currency Non-resident (Bank) or FCNR (B) deposit...
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5 firms in race to build new Customs system
L&T Technology Services (LTTS), Wipro, IBM India, Tata Consultancy Services (TCS), and Infosys are in the race for a contract to build the country’s new digital backbone for crossborder trade, which will combine multiple existing systems into a single...
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Purvanchal steps up on development journey
Coming out of its image of being the badlands of Uttar Pradesh (UP), Purvanchal (the eastern region) is emerging as the state’s growth hub on the back of a massive infrastructure push, improved law and order, and ease of doing business, top ministers...
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40-day oil buffer plan enters action phase
India is moving ahead with a major expansion of its strategic petroleum reserve (SPR) network, with five projects planned across Chandikhol in Odisha, Bina in Madhya Pradesh, Bikaner in Rajasthan, and Mangaluru and Padur in Karnataka, according to...
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HDFC Bank may pick new chairman before deciding on CEO extn
HDFC Bank, having secured a clean chit from an external legal review of allegations made by its former part-time chairman Atanu Chakraborty while resigning this March, is prioritising the appointment of a regular chairman before its board can take up...
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Now, Siam objects to battery recycling rules
The Society of Indian Automobile Manufacturers (Siam) has warned that battery-recycling targets mandated under the government’s rules could raise electric vehicle (EV) prices by 3-5 per cent and hurt sales in the country. Raising the matter with the...
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Banks wait & watch as $-bond investors seek richer returns
Banks may choose to wait for attractive pricing rather than tap overseas markets at levels they are not comfortable with, as investor demand for higher returns has pushed up borrowing costs after the first wave of dollar bond issuances following the...
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Pvt life insurers rekindle agency networks amid scrutiny over bancassurance
Private life insurers are stepping up investments in their agency networks as they seek to diversify distribution, reduce dependence on bancassurance and expand their customer reach. The renewed focus on the agency channel comes amid growing concerns...
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El Niño concerns trigger earnings risk for India Inc
Worries about a possible strong El Niño effect on monsoon showers this year is making boardrooms grow uneasy with industry executives and economists warning that weaker rural incomes and discretionary spending in coming months could depress corporate...
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Fed wizard who couldn’t stop the ’08 storm
Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record economic expansion in the United States, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died....
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Hyderabad firm builds over ₹400 cr pharma biz, without a factory
Pharmaceutical hub Hyderabad is quietly witnessing a business innovation that could tackle excess production capacity in the sector. As parts of India’s upstream bulk drug industry grapple with underutilised capacity despite years of investment,...
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Jio Platforms targets ~37.7K cr IPO
Jio Platforms Ltd (JPL), the Reliance Industries-controlled company that houses India’s largest telecom operator and a growing portfolio of digital businesses, filed its draft red herring prospectus (DRHP) on Friday for what could become India’s...
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RBI steps up $ buys to boost FX reserves
The rupee’s trajectory indicates a reversal amid a decline in crude oil prices with the United States (US) and Iran having reached an initial agreement to end the war, before finalising a peace deal in 60 days. The Reserve Bank of India (RBI) seems to...
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Water-supply curbs threaten Mumbai’s burgeoning realty pipeline
Water-supply restrictions imposed by the Brihanmumbai Municipal Corporation (BMC), amid shrinking reservoir levels and a delayed monsoon, have raised concerns across Mumbai’s real-estate sector. Industry players warn that if the curbs persist, they...
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IFSCA chief: We expect solid growth once global tumult settles
K Rajaraman, chairperson of the International Financial Services Centres Authority (IFSCA) in GIFT City, Gujarat, said the focus of the authority is to position itself as a natural destination for international capital and financial activity. GIFT IFSC...
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US, Iran sign peace MOU; Hormuz hopes set sail
The United States (US) and Iran have signed a memorandum of understanding (MOU) to settle a 108-day war, senior US officials said on Monday, adding that a signing ceremony would take place on Friday and shipping traffic in the Strait of Hormuz would...
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