UPS Financial News

About the author: Emir Phillips is an associate professor of finance at Lincoln University. His research on central banking and the political economy has appeared in the Cambridge Journal of Economics and the Journal of Economic Issues.Nearly 20 years after Satoshi Nakamoto debuted Bitcoin as the ultimate banking disrupter, banks are still here. Central banks are bigger than ever.

data centres are the refineries converting it into AI-ready fuel. And India is fast emerging as the next global hub.The country generates nearly 20% of the world's data but hosts only 3% of global data centre capacity.

The year 2025 emerged as a pivotal year for household finances—marked by significant changes like a reduction in mandatory annuitization in the National Pension System (NPS), lower income tax rates, GST slab rationalization, and the introduction of new labour codes—laying the groundwork for how Indians will plan, save, and invest in 2026.For instance, the new tax regime has emerged as the obvious choice for most taxpayers following the increase in the rebate limit to ₹12 lakh. To make the old regime work, taxpayers would now need to claim deductions of over ₹8 lakh a year—a tough target given the ₹1.5 lakh cap under Section 80C and no change in the ₹50,000 standard deduction for years.

compressed natural gas (CNG) and city gas distribution (CGD) prices cheaper.Noting that the regulator is vested with power primarily to fix tariffs for natural gas pipelines, the report said: "However, other remaining major part of delivered cost of gas i.e. gas prices, regasification charges (including truck loading charges) are currently not in PNGRB’s regulatory oversight.

Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected] Indian government will focus on boosting the adoption of electric buses and trucks and charging infrastructure in 2026, which remains crucial for the nation’s goal of 30% electric mobility by 2030.E-trucks and e-buses under the ₹10,900-crore PM E-Drive scheme would be the government’s priority in 2026, as incentives for electric two- and three-wheelers under the scheme are set to lapse in March 2026, a senior government official directly aware of the development said.Overall adoption of electric vehicles (EVs) rose in India despite supply-chain disruptions in 2025, stemming from China’s grip in rare earths.

₹6,049 crore, chief executive officer Akhilesh Kumar Dixit said in an interview on Monday.The enterprise and equity values of the deal are estimated at $723 million and $500 million, respectively, said another person in the know of the developments.The proposed transaction would rank among the largest deals in India’s fast-growing smart metering sector and highlights the financial stress at EESL, even as IntelliSmart plays a key role in the country’s $30-billion programme to replace 250 million conventional electricity meters with smart ones.Set up in 2019, IntelliSmart was awarded 22 million smart meter orders in the backdrop of India running the world’s largest electricity smart metering programme that aims to replace 250 million conventional meters with smart ones at a $30 billion investment. This will not just help reduce power theft but also ensure reliable electricity supply.IntelliSmart has installed 5 million smart meters and has presence across Uttar Pradesh, Assam, Gujarat, Bihar.

Delhi-based Deepika Khosla, 38, a French teacher, and her husband, Mohit Khosla,40, a working professional in the telecom sector, are parents to twins Avighna and Itika, both eight years old and currently in grade 3. Education forms a central part of the family’s monthly budgeting.

₹25,000 crore safety net, as the Union Budget for FY26 could unveil a risk guarantee fund designed to ease financing bottlenecks and attract capital to stalled projects. The move comes amid rising project delays, cost overruns, and higher borrowing costs that have long constrained investment flows into the sector.Modelled on credit guarantee schemes for small businesses, the fund, likely managed by the National Credit Guarantee Trustee Company (NCGTC), would underwrite development risks for infrastructure projects, allowing banks and financial institutions to lend on easier terms, said two government officials aware of the development.

Times of India reported that Warburg was planning to sell its stake in a transaction that could value IndiaFirst at more than ₹10,000 crore.Set up in 2009, IndiaFirst offers a range of life insurance products, including term plans, savings and retirement solutions. Its initial shareholders were Bank of Baroda, Andhra Bank, now part of Union Bank of India, and Legal & General Middle East Ltd.In February 2019, Legal & General sold its stake to Carmel Point Investments India Pvt.

Capitalism: A Global History by Harvard historian Sven Beckert.In the self-interest of this claim, its length is best left undisclosed.It kicks off with a jaw-dropper: the 1639 trial in America of Robert Keayne, a trader shamed for ‘false principles’ like it being fine for someone to “sell as dear as he can and buy as cheap as he can” and take advantage of either “his own skill or ability” or “another’s ignorance or necessity.”Adam Smith’s thesis of an ‘invisible hand’ blending our interests to serve our collective well-being came much later, in 1776, though capitalism as an economic order is characterized not just by a free market, but also by the right to private property, contract enforcement and other props.The charm of Beckert’s account of endless capital self-creation is that it offers us a global view. After all, its story not only spans a millennium, it girdles the globe.Aptly, thus, this book takes us back to trade across the high seas around India about nine centuries ago.

₹20 trillion as of November 2025, compared to hybrid and equity assets, which have grown 1.8 times over the same period.The total assets for hybrid funds stood at ₹11.4 trillion, and those for equity stood at ₹35.4 trillion as of November, according to data from the Association of Mutual Funds in India (Amfi).The reasons for lower inflows into debt mutual funds are primarily due to changes in taxation and lower awareness about the product, according to experts.On 1 April 2023, the government removed the indexation benefit on debt mutual funds. Before the removal of indexation, if one had invested in a debt mutual fund, they would have been taxed at 20% on long-term capital gains with indexation benefits.Currently, in debt mutual funds that invest less than 35% in equity purchased on or after 1 April 2023, the gains are taxed entirely at the applicable income tax slab rate of the unit holder, regardless of the holding period, without indexation benefits, which has disappointed investors.Sirshendu Basu, head of product management & strategy at Bandhan AMC, said that since debt mutual funds are taxed at the investor’s applicable marginal rate, post-tax returns have declined for most investors.“With AAA-equivalent debt funds offering around 6.75% pre-tax returns, investors are increasingly exploring hybrid fund categories in search of improved post-tax outcomes, while being mindful of the relatively higher risk involved,” he added.“Taxation changes impacted institutional investors because money invested before the change continues to enjoy indexation benefits through grandfathering,” said Basant Bafna, head of fixed income at Mirae Asset Investment Managers (India).

Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected]. Mumbai: After plummeting over 6% in 2025 and breaching the psychologically-important 90-per-dollar mark, the Indian rupee is heading into 2026 carrying the weight of weak capital flows, global trade uncertainty and shifting central bank strategy.Yet, beneath the headline depreciation, economists and market participants said the outlook for the currency next year is far from one-way depreciation and hinges crucially on how the external sector evolves, especially India's trade deal with the US.At the heart of the debate is whether this year's weakness marks the start of a more prolonged downcycle or a painful, but necessary adjustment.“Typically, the rupee needs to depreciate to the extent of the interest rate differential between the US and India, but the reality is that the external front has been hit hard by US tariffs," Neeraj Gambhir, executive firector at Axis Bank said.

on the Nifty and the Bank Nifty by 120,022 contracts on Friday from 53,442 contracts on Wednesday, as per data from the National Stock Exchange (NSE). Markets were shut on Thursday for Christmas.FPIs increased their cumulative net short calls by 13,953 contracts from 2,422 contracts during this period, while retail and high-net-worth investors and domestic institutional investors were net buyers.Calls are generally sold when traders expect the markets to remain flat or correct.

Even in a tough year, the Nifty has delivered 7–8% returns, Systematic Investment Plan flows remain strong, and this phase has been more of a time correction than a price correction, said Sunil Singhania, founder of Abakkus Asset Manager. As economic recovery gains pace, he is more optimistic about 2026 and 2027.While some markets, such as South Korea, have posted 60–70% gains in 2025, these gains reflect a catch-up after years of flat returns and are driven by just a handful of tech and AI stocks, making them vulnerable if the AI trade cools.

Mint had earlier reported that Adani TotalEnergies E-mobility Ltd, Reliance BP Mobility Ltd and JBM Group had signed non-disclosure agreements (NDA) for the proposed deal.“JBM Group has signed an exclusivity agreement for GLIDA and due diligence is ongoing,” said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.JBM Group is drawn to GLIDA's 850 charging points across 29 cities and 25 highways in 17 states amid India’s green-mobility push that depends on the expansion of an effective EV charging network. JBM Group’s flagship firm JBM Auto Ltd is one of India’s largest electric bus manufacturers, with 1,500 EV charging sites.

Apple Inc. has notched another feat in India – fuelled by easy credit, cashbacks and aspirational Indians, the iPhone 16 is now the country’s highest-selling smartphone, eclipsing the most popular budget model from China’s Vivo.The iPhone 16 series, launched about 15 months ago, sold 6.5 million units in the first 11 months of 2025, according to data from Gurugram-based Counterpoint Research.

₹2,000-crore technology upgradation scheme for small businesses in the 2026-27 budget, aimed at boosting the adoption of energy-efficient machinery, two people aware of the development said.The technology upgradation scheme, proposed by the Union ministry of micro, small, and medium enterprises (MSME), and currently under discussion, will cover MSMEs with annual turnover of less than ₹50 crore, offering them a 20% capital subsidy for purchase of energy-efficient machinery, smart manufacturing, and automation upgrades, said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.A micro enterprise has an annual turnover of up to ₹5 crore, a small enterprise up to ₹50 crore, and a medium enterprise up to ₹500 crore.The plan comes amid several countries introducing their own carbon taxes on imports from nations with weaker climate regulations. The European Union’s Carbon Border Adjustment Mechanism (CBAM) comes into effect from 1 January.

pharmaceutical sector, a major global supplier of generic medicines.The revised Schedule M GMP had been earlier extended from the previous 1 January 2025 cutoff. The proposed extension for MSMEs, which have revenue of ₹250 crore or less, comes in the backdrop of less than a third of them submitting their upgrade plans, with the remaining units risking immediate closure and penalties.There are a total of 10,500 drug manufacturing units in India, of which 8,500 fall under the MSME category.

Fractal Analytics Ltd is likely to begin the book-building process for its ₹4,900 crore market debut as early as next week, two people directly aware of the matter said.India's first artificial intelligence unicorn, which received regulatory approval for launching its initial public offering (IPO) in November, is likely to file updated draft papers by mid-January 2026, one of the people quoted above said.The company has been meeting potential investors, both local and global, and has received investment commitments from several of them, the other person explained.Book building is a process where merchant bankers determine a price range within which investors can bid for shares in an IPO. The final price is determined after the bidding process is completed.A book-building process is also likely to help Fractal decide on its pre-IPO placement, the second person said.

With this acquisition, Coforge expects to earn $2 billion a year by the next fiscal year. All of this is in anticipation of AI and its benefits.Coforge, however, isn’t the only one.

the bill is probably necessary. Opening up the sector to greater foreign participation could bring capital, expertise, and competitive pressure.Reducing bureaucratic hurdles for share transfers and expanding the definition of intermediaries are sensible updates.