Updates Financial News

Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Banks in India got a jolt late on Friday after the Reserve Bank of India (RBI) capped their net open positions in the forex market at $100 million. Many have been sitting on large long-dollar positions, which they’ll now be forced to unwind by RBI’s deadline at a loss. Bank stocks, of course, slid on Monday.RBI’s apparent aim is to increase dollar supplies in support of the rupee.

Venu Srinivasan and its managing director is his son Sudarshan Venu. Gopalan is a director on its board.On Friday, the Sundaram Clayton board accepted Kishan’s resignation and appointed M.

Karnataka’s move to impose a tax on electric cars, a year after waiving levies, could slow down adoption in one of India’s key electric vehicle (EV) markets by eroding their price competitiveness with petrol and diesel vehicles, industry experts said. The shift comes even as other states continue to offer tax breaks to push EV uptake.According to a bill passed in the Karnataka assembly last week, a tax in the range of 5-10% of a vehicle’s price will be imposed on all EV cars based on their price at the time of registration in the state, which is expected to widen the price gap with less expensive internal combustion engine (ICE) vehicles.The move partly negates the state's own clean mobility policy released in 2025, under which road and registration taxes were waived off for all electric vehicles, except those priced above ₹25 lakh.This comes at a time when other large EV car markets such as Maharashtra, Uttar Pradesh, Tamil Nadu and Delhi are moving to waive off all such state taxes on EVs to promote their adoption.“At a time when EV adoption is crucial to cutting vehicular pollution and improving urban air quality, this decision risks undermining the state’s stated ambition of promoting zero emission mobility,” Sharif Qamar, associate director at The Energy and Resources Institute (Teri), said.

RBI measure will bring some temporary relief to the rupee, but appreciation will be limited because fundamentals remain unfavourable, treasury officials said.“Currency appreciation may be limited to the extent of unwinding of these current leveraged positions. But once that is settled, I think the currency will again follow the fundamentals, and as long as this crisis continues, rupee will depreciate,” Reddy of Karur Vysya Bank said.Following the central bank move, the rupee gained 1.3% to touch a one-week high of 93.59 per dollar on Monday, before shedding gains to hit a new low of 95.1250. Likely RBI intervention lifted it to 94.83 at close, little changed from ⁠its previous close.

overreaction, with fundamentals remaining largely intact, it is a clear signal to buy. Otherwise, the downside looks pretty steep.

Write to [email protected] updated with the latest Trending, India , World and US news.

Mr. Blinder is a professor of economics and public affairs at Princeton. He served as vice chairman of the Federal Reserve, 1994-96.Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.

9th Mint India Investment Summit in Mumbai last week. Panellists, including senior in-house legal counsels and law firm partners, said weak enforcement sits at the heart of the problem, raising the cost of doing business and deterring investment.The inability to enforce contracts swiftly and predictably, along with delays, frequent adjournments, procedural hurdles and lack of subject-matter expertise, creates friction for companies and investors.

forward-deployed engineers—people who embed with customers to teach them how to use AI.On top of generous base salaries, Zhang has also seen companies offering profit-sharing agreements. Say someone is put in charge of a particular business vertical; they might now get promised 4% of its profits.Chris Vasquez, CEO of Quantum, which recruits teams for high-growth startups, says it’s no longer uncommon for startup workers in certain roles to be making the same total cash compensation as seasoned workers at companies like Meta and Google.“Prior to this, I’d probably never seen anyone over $300,000 on base salaries at seed companies,” says Vasquez.

Despite Brent crude at $115 a barrel, shares of oil marketing companies (OMCs) Indian Oil Corp Ltd (IOCL), Hindustan Petroleum Corp Ltd (HPCL), and Bharat Petroleum Corp Ltd (BPCL) held up better than the broader market during Monday’s selloff. Markets see the government’s ₹10-per-litre excise duty cut from Friday as exactly what the doctor ordered for a sector staring at steep under-recoveries: ₹26 per litre and ₹82 per litre for petrol and diesel, respectively.The policy move could cost the exchequer nearly ₹14,000 crore in revenue per month.

trade deficit and high gold imports.The impact of the war-led disruptions—built on top of the calibrated depreciation—pushed the rupee towards a level not previously anticipated. Even then, economists believe that the RBI should not defend the rupee too much as it may provide temporary relief, but could stoke sharper depreciation later."If this is a long-drawn-out crisis, you want to preserve your forex reserves because when we got into trouble in 2013, our reserves went down, then the taper tantrum made it worse," said Gaura Sengupta, chief economist at IDFCFirst Bank.Forex reserves declined 3.4% and 0.6% in FY12 and FY13, but failed to arrest the rupee’s decline.

Mint, he said such corrections often create compelling entry points for long-term investors.Markets tend to react sharply to geopolitical events, especially in the early stages. However, over time, volatility usually stabilizes as markets adjust. What makes the current situation more complex for India is its dependence on energy imports.

Mumbai: India is expected to sustain strong M&A momentum, including cross-border deals, as investors take a long-term view despite macro headwinds, top executives said at the Mint India Investment Summit.“It’s interesting how the last three quarters over 2025 have shown the ability of investors to digest any volatility, price it in if required and proceed with M&As as they see sense in it over a 5–10-year horizon,” Devarajan Nambakam, co-head of India investment banking for Goldman Sachs Group, said at the summit last week.“This is probably going to be tested more this year than last, but the ability of investors to see through these volatilities has been the biggest mindset shift.”With India being a robust growth economy, there is demand for capital to accelerate this pace and for shareholders looking to monetize their stake among others, he added.“From a supply perspective, it’s safe to say that almost no pool of capital is unavailable in India be it strategic capital, private equity, private credit or hybrid capital. Today, the quantum of the capital that is available is higher than we’ve seen.

Engineering and construction company Kalpataru Projects International Ltd is bracing for the adverse impact of the Middle East conflict on its March quarter (Q4FY26) earnings. During a recent analyst meet, management noted that the Middle East accounts for 10-11% of its ₹63,300-crore order book. The power transmission & distribution (T&D) business is expected to see a potential revenue impact of ₹200-300 crore due to supply-related challenges.

When taxpayers complain that the income tax department is adversarial, the issue is often framed as interpersonal and behavioural. Are officers too aggressive? Are notices too intrusive? Is the department predisposed to distrust the taxpayer? These questions matter, but they misstate the problem. The real difficulty is institutional.

Amid the US-Israel war with Iran, concerns are growing about the safety of subsea cables in West Asia—the hidden network that carries most of the world’s internet. A large part of India’s data travels through these cables, many of which pass through regions now at risk of conflict.

₹5,191.06 crore redemption, small-cap funds saw inflows of ₹3,881.06 crore in February, prompting fund houses to launch new schemes and reopen existing ones.The opportunity is real, but so are the risks. Experts warn that low liquidity, stretched valuations, and governance weaknesses can turn potential gains into sharp losses.“The runway is huge and positive, but the interim perils are also real,” remarked Harsh Gupta Madhusudan, fund manager-PIPE, Ionic Asset.Following this renewed interest, ICICI Prudential Mutual Fund reopened subscriptions to its Small Cap Fund in January, Groww Mutual Fund launched a new small-cap scheme around the same time.

The taxation of share buybacks in India has come full circle, reflecting the government's continuing effort to balance revenue considerations with anti-avoidance safeguards. Before 2013 buybacks were treated akin to a sale of shares, with shareholders taxed on the resulting capital gains.

The Reserve Bank of India (RBI) recently issued draft amendments to its Responsible Business Conduct Regulations. These cover the advertising, marketing and sales of financial products and services by banks, non-bank financial companies and other all-India financial institutions either by their own staff or by direct sales or marketing agents. The most consequential element in RBI’s proposals is that for the first time they define ‘mis-selling’ to include any sale of a product or service that is neither suitable nor appropriate for a customer profile even with customer consent.