India Financial News

Subscribe to enjoy similar stories.NEW DELHI: The Centre plans to buy 1 million tonnes of chana (gram) to build adequate buffer stocks to manage potential supply shortfalls and ensure steady availability in the open market, two officials said.The purchases through the Price Stabilisation Fund are part of graded measures to keep prices of essential food grains stable and prevent market volatility amid forecasts of a below-normal monsoon this year and the possibility of El Niño, a weather phenomenon that increases the risk of drought and reduced crop yields.“The procurement drive will be carried out under existing price support mechanisms, with agencies stepping in to buy from farmers both to support farm-gate prices and to maintain retail price stability,” one official said.India’s chana production climbed 6.2% to 11.8 million tonnes in FY26, with the yield up 1.6% to 1,238 kg per hectare.“Chana production has improved significantly this crop year compared to last year, largely due to the import duty on chana and yellow peas. This has supported domestic prices and encouraged higher sowing.

Subscribe to enjoy similar stories.The Ganga mostly flows east-southeast across the Indo-Gangetic alluvial plains towards its mouth in Kolkata. As it approaches Varanasi in eastern Uttar Pradesh (UP), it encounters something unusual: an outlier of ancient Vindhyan sandstone that juts northward into the otherwise soft alluvial plain. The river cannot cut through this resistant rock as easily as through alluvium, so instead of continuing straight eastward, it deflects northward, running along the western flank of this Vindhyan rock ridge.

Subscribe to enjoy similar stories.For centuries, Santhal and Gond tribes in central and eastern India have called the mahua tree the ‘tree of life’ as an ode to its versatility: from a nutrient-dense edible flower to local arrack to cooking oils made from seeds, it’s sturdy wood is used in carpentry and nearly every part of the tree is used in traditional medicine.Add the latest end-use of madhuca longifolia, the scientific name for the mahua tree: turn its bitter-sweet flowers into fine chocolates and granola for the discerning and well-paying urban consumer.Meet Rishabh Lohia, a young social entrepreneur from Ranchi in Jharkhand, giving mahua the contemporary makeover. A former student of economics who found inspiration in Nobel laureate Amartya Sen’s writings, Lohia left his family’s real estate business in 2024 to launch Wild Harvest, a packaged food brand specializing in mahua products.For Lohia and his partner Ashali Bhandari, building Wild Harvest is akin to creating a new category in the ever-expanding fast-moving consumer goods basket.

Subscribe to enjoy similar stories.The government’s move to link the Nari Shakti Vandan Adhiniyam (Women’s Reservation Act of 2023) with nationwide delimitation, or redrawing electoral constituency boundaries based on population, has stoked the latent but ever-growing sense of injustice that India’s southern states have long been smarting under.Remember, it was not so long ago that Chandrababu Naidu, chief minister of Andhra Pradesh and a member of India’s ruling National Democratic Alliance (NDA), urged Andhra people to have more children. And Tamil Nadu chief minister M.K.

Subscribe to enjoy similar stories.If you’ve ever hesitated before approving a UPI request or double-checked a QR code before scanning, you’re not alone. As UPI becomes central to everyday payments, concerns around fraud are rising alongside its growth.As per government data shared in Parliament, 10.64 lakh UPI fraud cases worth ₹805 crore were reported in FY26 (till November).The Reserve Bank of India’s proposal to introduce a one-hour cooling-off period for new or high-value UPI payments above ₹10,000 is the latest step aimed at curbing such frauds.At the same time, another digital payment option has quietly evolved in the background: the e-rupee, or India’s central bank digital currency (CBDC).

Subscribe to enjoy similar stories.The US has extended by 30 days its waiver from sanctions for Russian oil purchases. Just days ago, US Treasury secretary Scott Bessent had ruled that out. This flip-flop is a relief.

Subscribe to enjoy similar stories.HDFC Bank management’s focus has shifted from bringing down the loan-to-deposit ratio (LDR) to pursuing credit growth opportunities. In its March quarter (Q4FY26) earnings call, the management stated that LDR is not a constraint, citing similar comments from the Reserve Bank of India (RBI).

Subscribe to enjoy similar stories.BENGALURU: Wealthy Indians are spending more overall, but a smaller share of that spending is going to retail stores selling goods like clothing and gadgets.As incomes rise for affluent households, they are increasingly spending on travel, fine dining and curated experiences such as concerts and wellness retreats, even as they continue to purchase high-value premium goods.In response, retailers are accelerating efforts to add experiential formats, from curated in-store services to immersive store environments, as they strive to stay relevant in a consumption landscape increasingly driven by engagement rather than transactions.New data from Visa Consulting & Analytics (VCA), shared with Mint, shows retail’s share of wallet drops from nearly 50% among emerging affluent consumers to about 28% for the ultra-wealthy, as spending on travel and experiences rises sharply.“Affluence is not an absolute state defined by income. It’s defined by how and where people spend.

Subscribe to enjoy similar stories.The Centre is planning a nationwide policy push to enable the adoption of flex-fuel vehicles (FFVs) that can run on ethanol blends of up to E85 (85% ethanol and 15% petrol), as the West Asia conflict prompts India to explore ways to cut oil import dependence, according to two people aware of the development and a correspondence reviewed by Mint.India’s current 20% ethanol blending mandate, introduced in 2025, had triggered public complaints over reduced mileage and concerns around engine performance.The Union petroleum and natural gas ministry has called a meeting on Monday to deliberate on the issue. “During the meeting, a presentation will be made by the working group constituted for preparing the plan for the rollout of FFVs,” one of the people cited above said, requesting anonymity.The working group, comprising experts from oil marketing companies, automobile makers and the government, will present its plan to top executives of state-run oil firms and representatives of the automobile industry lobby group Society of Indian Automobile Manufacturers (Siam), and officials from relevant ministries.Global crude prices have remained volatile amid the conflict, briefly crossing $100 per barrel before easing following a ceasefire, with risks of another spike persisting.Such a scenario poses a significant fiscal risk to India, considering it imports 90% of its oil requirements.

Subscribe to enjoy similar stories.All new steel plants opening till the year 2030 may have to mandatorily use 30% domestic coking coal, under a plan to reduce import dependence and boost local coal use. Currently, steel plants use a maximum of 20% domestic coal in their operations.The blending mandate is expected to reduce the cost of importing coking coal by almost 25%, two people aware of the plan said.

Subscribe to enjoy similar stories.Nasdaq-listed travel company MakeMyTrip is weighing the benefits of listing its Indian arm via Indian Depository Receipts (IDRs) rather than a traditional initial public offering (IPO), according to two people familiar with the matter.“An IDR structure is on the table, being viewed as a method to manage tax obligations that would be triggered by the Mauritius-based parent entity—MakeMyTrip Ltd—during a secondary sale of shares in a domestic IPO,” said one of the two persons on the condition of anonymity.The development follows the company's reaffirmation of its strategic priorities on 16 March, including plans for a potential listing of its India business after the consolidation of its brands, such as RedBus India, under MakeMyTrip (India) Pvt. Ltd.The company provides flight, hotel, and bus bookings through its platforms, including Goibibo and RedBus.Experts say the move may have been driven by the 15 January Supreme Court of India ruling in the Tiger Global-Flipkart tax case, which held that a Mauritius-based holding company participating in an offer for sale (OFS) in an Indian IPO would be liable to pay capital gains tax in the country on such transactions."In practical terms, this means that reliance on Mauritius purely as a tax-efficient holding jurisdiction is significantly weakened in the context of IPO exits," said Sonam Chandwani, managing partner, Mumbai-based law firm KS Legal & Associates.The IDR route allows a foreign-listed company to remain domiciled abroad while accessing local liquidity by issuing receipts to Indian investors that are backed by shares held by a custodian, avoiding tax liabilities.“There is renewed interest in the IDR route.

Subscribe to enjoy similar stories.India's top private lenders, led by HDFC Bank and ICICI Bank, reported strong growth numbers in the quarter just gone by but have turned cautious on business prospects in fiscal 2027 as the West Asia war and consequent economic disruptions stoke uncertainty.While domestic demand trends have been robust so far, war-related tensions cloud visibility on future growth and lending, especially to small and medium enterprises and export-oriented companies.HDFC Bank’s loans grew 12% on year to ₹29.6 trillion as at the end of March 2026, whereas deposits were 14% higher at ₹31 trillion. On its post-earnings media call Saturday, managing director and CEO Sashidhar Jagdishan stated that it would be difficult to predict the future pace of growth given the war even though expansion is expected to continue.“The trajectory is the right path in terms of positive momentum and we shall calibrate that as we get more clarity from the macro indicators over a period of time,” Jagdishan said, adding that so far the impact from the geo-political situation has been minimal.Jagdishan said bank clients have seen a certain level of disruption but what is really encouraging is their resilience.

Subscribe to enjoy similar stories.India's apex drugs regulator has directed state governments to enforce uniform medicine standards to eliminate regional variability in regulatory compliance.In its February directive, reviewed by Mint, the Central Drugs Standard Control Organization (CDSCO), chaired by the Drugs Controller General of India, Rajeev Singh Raghuvanshi, wrote that concerns have been raised regarding inconsistencies in the enforcement of drug standards across the country, low conviction rates in cases of drug adulteration, and the need for stringent scrutiny of adulteration in imported pharmaceutical products."All states are advised to take proactive measures to effectively address the issues. You are also requested to strengthen the necessary infrastructure, including the provision of adequate manpower under the State Health Regulatory Excellence Index (SHRESTH),” the letter said.The development assumes significance for India’s $50 billion pharmaceutical market, which is facing a quality crisis after Indian-manufactured cough syrups were linked to over 140 deaths globally, including in Gambia, Uzbekistan, and Cameroon, due to ethylene glycol poisoning.Mint's emailed queries to the health ministry spokesperson and the DCGI office on 15 April remained unanswered.

Subscribe to enjoy similar stories.Indian automakers are beginning to feel the operational strain of the West Asia conflict, with companies flagging supply bottlenecks, longer shipping times and rising costs, even as domestic demand remains resilient.Early signals from industry executives suggest the impact is weighing far more on supply chains than on demand, which has so far held up. The spillover is beginning to feed into production and exports, pushing up costs that companies are gradually passing on to consumers.At the centre of the strain is the Strait of Hormuz, a key maritime chokepoint that has seen vessel movement fall sharply amid repeated disruptions.

Subscribe to enjoy similar stories.Stock market recap: Indian equity markets ended the week on a firm note, with the Nifty 50 rising 156.8 points, or 0.65%, to close at 24,353.55. Easing tensions in West Asia and a cooling India VIX, down about 5% to 17.21, lifted sentiment, pushing investors into a risk-on mode.Market breadth was strong, with an advance-decline ratio of 2.6:1 as 2,364 stocks rose against 894 declines on the NSE.Among sectors, the Nifty FMCG index led gains, climbing 2.65% on the back of a nearly 5% jump in Hindustan Unilever, driven by upbeat volume growth expectations.

Subscribe to enjoy similar stories.The Nifty 50 and Sensex rose over 1% last week, extending gains a week before—their strongest in over five years—but the pace has now moderated. On Friday, both indices closed about 0.65% higher, with the Nifty at 24,353.55 and the Sensex at 78,493.56. With signs of stability emerging, we should look at stock-specific action.IRCON(Cmp ₹154.69)Why it’s recommended: Triveni Turbine (TRITURBINE) is a leading India-based manufacturer of industrial steam turbines up to 100 MW, specialising in design, manufacture, and custom-engineered back-pressure and condensing steam turbines.

Subscribe to enjoy similar stories.Consensus earnings estimates for the fourth quarter of FY26 point to double digit growth, albeit at a lower level than the previous quarter due to the impact of the West Asia war and a high base effect, says Satish Ramanathan, chief investment officer-equity at JM Financial Asset Management Company in an interview. Leading companies may emerge better given superior pricing power.Asked whether it is time for foreign portfolio investors to return to Indian equity markets, Ramanathan reply was: “…we believe Indian equity markets are now reasonable as regards valuations and are poised to benefit from a diversified economy and domestic market.

Subscribe to enjoy similar stories.Air India has said it will complete the retrofit of its legacy aircraft by 2029, nearly two years later than originally planned, after supply-chain constraints slowed its fleet overhaul plans. The final phase of the programme will cover 19 wide-body jets starting in the second half 2027 and is expected to take up to two years to complete, a senior executive said on Sunday.“There are some 777 Boeing aircraft which will be sent for retrofit in the second half of 2027 and these will be ready in the next 18 to 24 months… so by 2029.

Subscribe to enjoy similar stories.NEW DELHI: Even as original video and audio content struggle for attention in a crowded digital ecosystem, a new threat is compounding the problem: a surge of low-cost, artificial intelligence (AI)-generated material that is reshaping discovery, monetization and trust across platforms.Often dubbed “AI slop”, this content is mass-produced, repetitive and generic, flooding feeds and pushing higher-quality work out of view. For creators, the immediate hit is visibility: strong content gets buried under volume, making consistent engagement and monetization harder to sustain in a market where revenue is already concentrated among a small fraction of players.One common manifestation of AI-generated content is the proliferation of cover versions of popular songs, often created and distributed at scale using AI tools.

Subscribe to enjoy similar stories.New Delhi: Earlier this year, the government issued a much-awaited update to the methods by which it measures national income and gross domestic product (GDP).According to the government, key reforms to the way GDP is calculated “include revising the base years of GDP and price indices, strengthening the measurement of the informal and services sectors, improving labour market statistics, adopting advanced survey methods and technology, and enhancing transparency…”Based on the new methodology, India’s GDP grew 7.2%, 7.1% and 7.6% in real (inflation-adjusted) terms in FY24, FY25, and FY26, respectively, compared to the 9.2%, 6.5% and 7.4% growth rates last estimated using the old methodology. In absolute terms, GDP is now lower than previously pegged: at current prices (not adjusted for inflation), India added ₹345.47 trillion in economic output in 2025-26, not ₹357.14 trillion as believed using the old technique.

Subscribe to enjoy similar stories.A body representing alternative investment funds (AIFs) at GIFT International Financial Services Centre (IFSC) asked the government to intervene after the RBI mandated in late March that such funds must be treated as ‘resident Indians’ when reporting foreign assets.In a letter dated 10 April, which Mint has seen, the AIF Chief Financial Officers Association flagged a “critical regulatory overlap” triggered by the RBI's mandate for filing foreign liabilities and assets (FLA) returns, saying it conflicts with the specialized status usually granted to funds in the international zone. GIFT IFSC is a specialized regulatory zone within GIFT City that’s treated as a foreign jurisdiction for financial transactions.The association asked the union government to start a dialogue with the central bank and issue a joint clarification circular exempting IFSCA-registered entities from the FLA return rule.