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The Economic Times
The Economic Times Fixed costs are a strategy problem: What India's enterprise CFOs are getting right about managed offices
Indian CFOs are now treating office space as a capital allocation decision, moving beyond traditional long-term leases. The pandemic has highlighted the financial risks of fixed commitments, pushing enterprises towards flexible, managed workspaces. This shift offers cost visibility, capital efficiency, and crucial optionality, especially for Global Capability Centres navigating multi-city expansion. Managed solutions are becoming a strategic tool for agility.
The Economic Times Centre scraps TDS on aircraft lease rentals at IFSCs
A significant tax relief has been granted to airlines, with India now exempting tax deducted at source (TDS) on aircraft lease rentals paid to companies operating from International Financial Services Centres (IFSCs). This move, aimed at boosting aircraft leasing via GIFT IFSC, will ease cash flow for airlines by eliminating the need for upfront tax deductions.
The Economic Times Temasek-backed Manipal Health gets SEBI approval for India IPO, eyes July listing
MANIPAL-HEALTH-Temasek-backed Manipal Health gets SEBI approval for India IPO, eyes July listing
The Economic Times India extends anti-dumping duty on US, Malaysia, South Africa butyl alcohol
India has extended anti-dumping duties on butyl alcohol imports from the US, Malaysia, and South Africa for five more years. This move aims to protect local manufacturers from unfairly priced foreign products. The Directorate General of Trade Remedies found that removing the duty could lead to a surge in dumped imports, harming domestic producers. This ensures a fair market for Indian companies against artificially low-priced goods.
The Economic Times India targeting $1 trillion exports in 2026-27: Piyush Goyal
Commerce and Industry Minister Piyush Goyal said on Friday that India is aiming to achieve an ambitious target of $1 trillion in exports during the current financial year, with a robust double-digit growth from $863 billion in 2025-26.
The Economic Times Titan expects gold prices to stay elevated, volatile amid global tensions
Titan anticipates elevated and volatile gold prices due to global geopolitical tensions, impacting short-term jewellery demand. However, the company remains optimistic about India's long-term jewellery market growth, driven by favourable demographics and gold's appeal as a safe asset. Despite challenges like US tariffs and volatile gold prices, Titan achieved a landmark Rs 75,000 crore revenue in FY26, with its jewellery division contributing significantly.
The Economic Times RBI imposes Rs 66.7 lakh penalty on Bank of Baroda, GIC Housing Finance
The Reserve Bank of India has levied significant penalties on Bank of Baroda and GIC Housing Finance for regulatory breaches. Bank of Baroda faces a Rs 63.6 lakh fine for charging excess interest and delayed KYC record uploads. GIC Housing Finance was fined Rs 3.1 lakh for failing to conduct timely risk reviews of accounts. These actions highlight the RBI's commitment to enforcing fair lending and KYC practices.
The Economic Times China's warning reveals what really happened at Modi-Takaichi summit
India and Japan's recent summit in Delhi has sparked concern in Beijing. Agreements on defense, critical minerals, and AI signal a strategic shift, prompting China to caution against "exclusive small groupings." The summit's focus on economic security, diversified supply chains, and defense co-development, particularly the UNICORN project, directly challenges China's economic and strategic leverage. This collaboration, alongside renewed Quad support, signals a growing regional architecture aimed at balancing China's influence.
The Economic Times Paytm's European arm secures payment institution licence in Luxembourg
Paytm's European arm, Paytm Europe Payments, has officially secured a crucial payment institution license from Luxembourg's financial regulator, effective July 2, 2026. This significant development allows the subsidiary to offer a range of payment services, including fund transfers and credit line-backed transactions. The approval follows a substantial investment by its parent company, One 97 Communications, to bolster the European entity's capital.
The Economic Times NCLT to admit case only if debt, default established: Insolvency & Bankruptcy (Amendment) Act
New Delhi: Legal experts highlighted that the Insolvency and Bankruptcy (Amendment) Act 2026 mandates 'debt' and 'default' for NCLT case admission. The amended act introduces phased resolution plan approval, restored CIRP before liquidation, and bars resolution professionals from acting as liquidators. Competition law saw a surge in merger control cases, with the CCI's approval timelines shrinking. The Supreme Court also clarified rules on merger notifications.
The Economic Times Mynd Fintech, part of Treds platform M1xchange, acquires C2FO India
M1xchange is an RBI-licensed Treds (Trade Receivables Electronic Discounting System) entity. C2FO runs C2Treds and also has the same licence, which it may surrender going ahead. C2FO India’s parent company Pollen Inc. (C2FO US) is a major global player in early-payments solutions for small businesses, processing around $500 billion in payments across the US, Europe, and other markets.
The Economic Times Banks register rise in NRI deposits under RBI's new scheme
Banks have registered a gradual increase in the flow of overseas funds after the rollout of the Reserve Bank of India's (RBI) revised Foreign Currency Non-Resident Bank (FCNR-B) deposit scheme, and expect collections to accelerate further this month as awareness among NRIs is growing.
The Economic Times SEBI proposes INR-based registration fee payment for FPIs, FVCIs to simplify processes
The Securities and Exchange Board of India (SEBI) on Friday proposed that foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs) pay registration and related fees in Indian rupees (INR), replacing the existing system of payments in US dollars (USD), according to board meeting documents.
The Economic Times Adar Poonawalla Family Office invests Rs 700 cr in Inox Clean
Inox Clean Energy has secured a significant Rs 700 crore investment from the Adar Poonawalla Family Office, boosting its valuation to Rs 70,000 crore. This follows earlier backing from US pension fund CalPERS. The funding underscores strong investor confidence in Inox Clean's ambitious growth plans, aiming for 15 GW of renewable energy capacity and 11 GW of solar manufacturing by FY28.
The Economic Times Tax department steps up scrutiny of charitable trusts over disclosure mismatches
The Income Tax Department is intensifying its review of charitable trusts and non-profits, demanding detailed fund utilisation and governance information. This intensified scrutiny follows the detection of discrepancies in filings with various regulators. Hundreds of trusts, particularly those receiving foreign funds, are facing queries to ensure money is used solely for approved charitable purposes, enhancing data for tax assessments.
The Economic Times Bank of Baroda to pay $600 million to settle NMC Health insolvency claims
Bank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of gross negligence, failing to conduct proper due diligence, and allowing fraudulent transactions without adhering to anti-money laundering and KYC norms. This payout, significantly exceeding its reported exposure, aims to resolve claims from NMC Health and its affiliates, stemming from a fraud discovered between 2012-2020.
The Economic Times RBI backs crypto containment and keeps ban on table, officials tell house panel
The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending that banks and financial institutions be completely shielded from them. Officials argued that allowing exposure could legitimize speculative products with no economic benefit and pose financial stability risks. The RBI also questioned India's top crypto adopter ranking and warned stablecoins could threaten monetary sovereignty.
The Economic Times India's private credit market crosses $25 billion AUM, remains small globally: Moody's
According to the latest Moody's Ratings report, India's private credit market has doubled in size over the past five years to around $25 billion in assets under management (AUM) and is poised for sustained expansion as rising corporate funding needs outpace the lending appetite of banks and NBFCs. The report highlighted that private credit is increasingly evolving from a financing source for distressed companies to an established funding avenue for growth, refinancing and infrastructure projects.
The Economic Times From being a trust to gaining trust: AIFs call for switch to LLP model
India's private equity and venture capital sector is pushing for a crucial structural change to attract more foreign investment. The industry advocates for converting Alternative Investment Funds (AIFs) from trusts to Limited Liability Partnerships (LLPs), a globally recognized and preferred structure. This move aims to provide greater clarity on liability for foreign managers and investors, aligning India with international fund hubs.
The Economic Times Sensex surges 650 points, Nifty above 24,350. 7 key factors behind today's D-Street rally
Indian stock markets surged on Friday, with Sensex and Nifty climbing over 0.8% each. This rally was fueled by a calmer Middle East situation and reduced expectations of further US Federal Reserve rate hikes. IT stocks led the charge, while broader markets saw more modest gains. The overall market sentiment remained positive, indicating investor confidence.
The Economic Times GST at 9; Over 50,000 Appeals at GSTAT
As GST enters its tenth year, perhaps the debate should move beyond tax rates and revenue collections. The larger question is whether the system has matured enough to minimise disputes before they arise. A successful tax regime is not merely one that collects revenue efficiently, but one that inspires confidence among taxpayers.
The Economic Times Functional & Innovative Foods files DRHP with Sebi for IPO
Functional & Innovative Foods has filed its DRHP with Sebi for an IPO comprising a fresh issue of 60 lakh shares and an offer for sale of 25 lakh shares. The company plans to use the proceeds for capacity expansion, debt repayment, subsidiary investment, working capital and general corporate purposes.
The Economic Times FPI selling spree continues, pull out Rs 49,340 cr in June
Foreign investors continued their significant sell-off in Indian equities during June, withdrawing Rs 49,340 crore. This trend, driven by global uncertainty and domestic valuation concerns, has pushed total FPI outflows in 2026 past last year's figures. While geopolitical easing offered some respite later in the month, policymakers introduced measures to attract overseas capital, including debt market investments.
The Economic Times SBI Mutual Fund planning IPO launch on July 13, to raise $1.2 billion
SBI Mutual Fund is set to launch its IPO on July 13, with a likely $1.2 billion issue size, making it one of the biggest in India’s financial sector. The offer-for-sale issue will see SBI and Amundi pare their stakes, with the price band announcement expected on July 9.
The Economic Times IBBI seeks to streamline real estate insolvency regulations with focus on homebuyers
India's bankruptcy watchdog is proposing significant reforms to expedite real estate insolvency. Key changes include excluding completed or unaffected housing projects with creditor approval and mandating project-wise cash flow management. The aim is to prioritize project completion, enhance transparency for homebuyers, and ensure accountability, with stakeholders invited to provide feedback by July 21.
The Economic Times Quantum Energy Partners with Hero FinCorp to Enable Easy Financing for Electric Scooters
Hyderabad (Telangana) [India], In a strategic move to support the growth of electric mobility in India, Quantum Energy, an electric scooter manufacturing company, has announced its partnership with Hero FinCorp, a diversified Indian NBFC with a strong presence across retail, MSME, and corporate lending. The collaboration aims to make electric scooters more accessible and affordable by offering seamless, flexible, and customer-friendly financing options across the country.
The Economic Times Japan-India Annual Summit: 150+ firms back $12.5 bn leap to fortify security ties
He added a report by the Japanese newspaper The Yomiuri Shimbun, which noted that these initiatives, valued at approximately 2 trillion yen on the Japanese side, aim to deepen their footprint in India's expanding market.
The Economic Times Coca-Cola eyes $1 billion IPO for Indian bottling unit
Coca-Cola has invited investment banks to pitch for roles in the planned IPO of its Indian bottling arm, Hindustan Coca-Cola Beverages, in a deal that could raise around $1 billion. Presentations are set to take place in London next week, with Rothschild & Co., the company's adviser, meeting prospective banks as preparations for the proposed listing gather pace.
The Economic Times S K Sinha takes over as Director (Finance) of GAIL
Sinha, a seasoned Cost and Management Accountant, brings extensive experience in corporate finance, treasury, and investor relations. His appointment follows the retirement of R K Jain, marking a significant transition for the company's financial leadership.
The Economic Times India's lending boom might no longer be largely bank-led
India's private credit market is booming, doubling in five years to $25 billion as companies seek alternatives to traditional bank loans for expansion and acquisitions. Banks, wary of complex financing, are leaving a gap that private lenders are filling with flexible, albeit costlier, solutions. While growth is strong, regulators are urging caution due to emerging risks like rising defaults and market opacity.
The Economic Times Sensex jumps over 500 points, Nifty tops 24,150 as oil slips below $70/bbl on US-Iran peace talks
Indian stock markets saw a second day of gains, with Sensex and Nifty inching up as oil prices plummeted to $70 a barrel amid US-Iran peace talks. Tech stocks like Infosys led the charge, while broader markets also traded higher. Analysts point to falling crude, strong auto sales, and tapering FII selling as positive near-term drivers, though monsoon progress remains a watch point.
The Economic Times DP Global Wealth Management along with investors launch 26% open offer for AMPL Cap
The maximum consideration for the open offer stands at Rs 47.94 crore, payable entirely in cash, the termsheet of the open offer said.
The Economic Times ICAI, ICSI, ICoAI must truly collaborate to make Corporate Mitra Scheme a success, say experts
The Ministry of Corporate Affairs has launched the Corporate Mitra scheme to address the skill gap in MSMEs, offering compliance and financial guidance. Accounting bodies like ICAI, ICSI, and ICoAI are involved in training and implementation. Experts, while lauding the initiative, emphasize the need for robust safeguards, including mandatory professional supervision and a clear career path, to ensure its success and prevent misuse.
The Economic Times AI, data analytics power GST enforcement as taxpayer base crosses 1.65 crore: Finance Ministry
The Finance Ministry on Tuesday said advanced technologies such as artificial intelligence (AI), machine learning and data analytics are playing a key role in strengthening Goods and Services Tax (GST) administration by helping authorities detect potential tax evasion while reducing compliance burdens for honest taxpayers.
The Economic Times Rupee's slide poised for fleeting reprieve after oil rout extends
The Indian rupee is poised for a slight uptick today, buoyed by falling oil prices. However, this relief is anticipated to be fleeting as regional currencies falter and U.S. yields climb. Traders are closely watching the market after the rupee's significant drop yesterday, which breached a key support level. Despite positive oil news, higher U.S. yields are currently dictating market sentiment.
The Economic Times India Inc registrations jump 16% in June as investor sentiment rebounds
The number of companies incorporated increased to 19,375 in June from 16,654 a year earlier, according to the latest corporate affairs ministry data. Incorporations had fallen 8.6% in April before rising 5.5% in May.
The Economic Times India central bank chief sees case for lower inflation target in long run
India's inflation target is unlikely to be raised, with Reserve Bank of India Governor Sanjay Malhotra suggesting a potential long-term reduction. He highlighted the success of the current inflation-targeting framework in lowering average inflation. Despite expectations of a rise, inflation remains below the central bank's target, and the economy is poised for continued strong growth.
The Economic Times Global Creditors Drag Udaan's parent to bankruptcy court in Singapore after $170-million bond default
Insolvency petition filed this week, A&M appointed as liquidator of B2B commerce company. Ten year old co has seen valuations crash 70% as financials come under pressure.
The Economic Times Adani, IHC plan to forge $11.5 billion aluminium unit
Adani Group and Abu Dhabi's International Holding Company are set to invest a massive $11.5 billion in a new Odisha aluminium plant. This ambitious project, aiming for over 2 million tonnes annual capacity, could significantly boost India's aluminium production by nearly 50%.
The Economic Times SEBI bans 221 entities in Rs 144 crore pump-and-dump scam, bars mastermind Hanif Shekh for 7 years
India's capital markets regulator, the Securities and Exchange Board of India (SEBI), has barred 221 entities from the securities market after uncovering what it described as an "industrial-scale" stock manipulation scheme involving five listed companies.
The Economic Times Nayara Energy cuts petrol prices by Rs 5, diesel by Rs 3 as crude oil eases
India's largest private fuel retailer, Nayara Energy, on Wednesday reduced petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre across its nationwide retail network, which is the first cut in retail fuel prices since global crude oil prices began easing following the de-escalation of tensions in West Asia.
The Economic Times Renfra Energy submits papers with Sebi for IPO; eyes Rs 430-cr via fresh issue
Renfra Energy India is gearing up for its Initial Public Offering (IPO), aiming to raise Rs 430 crore through a fresh issue of shares. The company plans to use the funds for debt redemption, working capital, and general corporate needs. Renfra Energy, a key player in renewable energy project execution, has a strong track record in solar and wind energy solutions. The IPO also includes an Offer-for-Sale component.
The Economic Times Indian rupee weakness to persist despite RBI measures to bring in dollars
Despite the Reserve Bank of India's efforts to attract foreign capital, the Indian rupee is expected to remain weak against the U.S. dollar in the coming months. While recent measures and falling oil prices have offered some support, analysts predict the rupee will trade around current levels. Expected inflows may only lead to milder depreciation rather than significant appreciation.
The Economic Times RBI warns unwinding of leveraged hedge fund positions during stress could roil bond markets
The Reserve Bank of India has issued a stark warning regarding the increasing influence of large, leveraged hedge funds in global sovereign bond markets. Their rapid exit during market turmoil could trigger significant sell-offs and widespread financial instability. This concern is amplified by rising global debt levels and increasing government borrowing needs, making markets more susceptible to investor sentiment shifts and potential rollover risks.
The Economic Times Kotak Mahindra Bank shares in focus on deal to buy Deutsche Bank’s retail business for Rs 282 crore
Kotak Mahindra Bank will acquire Deutsche Bank India's retail banking, private banking and wealth management business, adding a sizeable loan book, deposits, assets under management and customers. The deal is expected to strengthen Kotak's affluent banking franchise while supporting Deutsche Bank's strategy to focus on its core businesses.
The Economic Times Kotak reclaims India ECM lead with mega deals on horizon
Kotak has reclaimed the top position in India's equity capital markets league tables, driven by strong deal execution. With several large public offerings and fundraising transactions in the pipeline, the investment bank is well positioned to strengthen its leadership in the country's booming capital markets.
The Economic Times GST collections rise 13.9% to Rs 1.95 lakh crore MoM in June
India's GST collections surged by nearly 14% to Rs 1.95 lakh crore in June 2026, marking a significant year-on-year increase. This robust growth was primarily fueled by a substantial 34.6% jump in import revenues, alongside a healthy 6.5% rise in domestic GST collections.
The Economic Times Jana Holdings to pare Jana Bank stake to repay its bond holders
Jana Holdings plans to reduce its stake in Jana Small Finance Bank to below 10% from 17% to meet bondholder payment obligations, including to TPG Asia. This move will also see the holding company relinquish its 'promoter' status. The company recently received debt restructuring approvals, extending payment deadlines to December 2026, with bondholders like TPG Asia acknowledging the planned equity sale strategy.
The Economic Times Solvency buffers at insurers thinning; general insurance sector more of a concern
The Reserve Bank of India's latest report highlights concerns over thinning capital in the insurance sector. While life insurers remain compliant, their buffers are shrinking. The general insurance segment faces a more serious challenge, with three public sector firms persistently falling below the minimum solvency requirement for over a year, posing a direct financial stability risk.
The Economic Times Markets open in green after two-day losing streak; Sensex up 160 points, Nifty opens higher at 23,897
The Indian equity markets opened in the positive territory on Wednesday after two straight sessions of losses, even as concerns persisted over a potential escalation in the US-Iran conflict and weaker-than-expected monsoon progress.
The Economic Times GST at 9: India Inc seeks GST 2.0 with faster ITC refunds, AI-led compliance and lower litigation
Finance chiefs say the indirect tax reform has transformed business over the past nine years, but call for quicker input tax credit refunds, simpler compliance, consistent tax interpretation and technology-driven administration as GST enters its next phase.
The Economic Times Sebi bars 10 entities over alleged fraud at Darjeeling Industries
The interim ex-parte order was passed amid concerns that the noticees could offload shares allotted through a preferential issue after the lock-in period expired, potentially making wrongful gains.
The Economic Times SEBI bars Darjeeling Industriies promoters, alleges circular funding and stock manipulation scheme
India's markets regulator, the Securities and Exchange Board of India (SEBI), on Tuesday issued an ex-parte interim order against the promoters and associates of Darjeeling Industriies Limited, alleging they orchestrated a complex scheme involving circular funding, misuse of preferential issue proceeds and suspected stock price manipulation.
The Economic Times Joint Parliamentary Committee to hold meeting on three key amendment Bills
A meeting of the Parliamentary Joint Committee examining The Constitution (One Hundred and Thirtieth Amendment) Bill, 2025, The Jammu & Kashmir Reorganisation (Amendment) Bill, 2025, and The Government of Union Territories (Amendment) Bill,30 pm on Wednesday in Parliament House Annexe (PHA).
The Economic Times AI driving credit risk, may threaten jobs and tax revenues in developed economies: Fitch
Artificial intelligence (AI) and heavy digital infrastructure spending are emerging as key global credit risks, with AI expected to boost efficiency but also threaten jobs and tax revenues, particularly in developed economies, says Fitch Ratings.
The Economic Times N Chandrasekaran's seat on Tata Sons board up for reset in August
Tata Sons chairman N Chandrasekaran's board reappointment is scheduled for the August 18 AGM, a crucial vote amid ongoing stakeholder tensions. His chairmanship hinges on retaining this directorship. While director renominations are usually routine, this year's could be contentious, especially after the SP Group's challenge in 2022. The meeting will also cover accounts and chairman's remuneration.
The Economic Times India's manufacturing growth expected to moderate in April-June due to West Asia crisis: FICCI
Indian manufacturing growth is set to slow in the first quarter of FY27, with a FICCI survey revealing muted business sentiment. This moderation is linked to the West Asia crisis, impacting production and order levels compared to the previous quarter. Despite these challenges, export performance shows positive signs, though manufacturers face rising production costs due to raw materials and logistics.
The Economic Times E20 mixing in trial phase, Centre tells SC; court orders status quo on ethanol quota
Attorney General R Venkataramani argued that such changes could destabilise the national E20 blending program, an "ongoing experiment."
The Economic Times RBI flags emerging fault lines in private credit market, calls for close monitoring
The Reserve Bank of India has identified growing concerns within the booming private credit market. The central bank's latest report highlights an uptick in defaults and investor redemption requests, signaling emerging stress. While not currently a systemic threat, the RBI emphasizes the critical need for ongoing monitoring to safeguard the broader financial system from potential risks.
The Economic Times The $1 trillion AI 'arms race' is fueling a hidden supercycle and it's not just chips
DBS Bank says the global AI arms race is driving a multi-year capex supercycle extending beyond semiconductors into energy, networking, infrastructure and data centres. The bank expects AI spending, sovereign AI investments and rising power demand to create new investment opportunities while reshaping portfolio allocation amid geopolitical risks and persistent inflation.
The Economic Times India cuts windfall tax on diesel, raises petrol tax from July
India has adjusted its export duties on petroleum products, reducing levies on diesel and aviation fuel as global oil prices decline. The duty on diesel exports is now 8.5 rupees per litre, and aviation fuel is 7.5 rupees per litre. Conversely, the tax on petrol exports has been raised to 4 rupees per litre to bolster domestic availability.
The Economic Times Dalal Street bets on a strong July as macro risks begin to fade
Indian equities are poised for a positive July, building on historical trends and recent market strengths. Easing crude oil prices, a stable rupee, and reduced foreign selling are fueling optimism. Analysts anticipate the Nifty could climb 2-3% from current levels, with mid and small-cap stocks expected to lead the rally. Investors are closely watching geopolitical developments and monsoon progress for further market catalysts.
The Economic Times Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes
Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent price drops following conflict de-escalation, analysts are revising forecasts. U.S. officials assert Iran won't control Strait of Hormuz tolls, with tanker traffic reportedly recovering. Meanwhile, U.S. crude and gasoline inventories declined last week, awaiting official government data.
The Economic Times Microsoft to cut under 2.5% of workforce in latest layoffs: Report
Microsoft is reportedly preparing for another round of job cuts, potentially impacting less than 2.5% of its global workforce. These layoffs could affect thousands across sales, consulting, and the Xbox division. This move comes as tech giants continue to trim staff while heavily investing in AI. Previous significant layoffs were announced by Microsoft in July 2025.
The Economic Times JSW taps KKR to drive in MG Motors JV with $400 mn investment
A combination of primary infusion and secondary share sale is planned as valuation doubles to $3 billion in 3 years. Sajjan Jindal led group is set to emerge as the single largest shareholder in the country's 3rd largest EV passenger car maker.
The Economic Times India plans to add strategic fuel reserves after Iran war shock
This ambitious move follows a review of existing, limited stockpiles and includes expanding underground crude storage and addressing the challenges of storing gas.
The Economic Times Bank credit to industry grows at robust 17.5 pc in May: RBI data
Indian banks witnessed a significant surge in credit to industries, with a robust 17.5% annual growth in May. This expansion was fueled by accelerated lending to large corporations and sustained healthy growth in the MSE sector. Advances to agriculture and allied activities also saw a strong uptick. Personal loans and the services sector also experienced considerable growth, indicating a dynamic credit landscape.
The Economic Times India’s top 10 States by GST collections in FY26 — and who lagged behind
India's GST collections for FY2025-26 reached ₹22.27 lakh crore, a slight 0.8% rise, driven by an 11.7% surge in import-related taxes. Domestic collections saw a 2.6% dip. Maharashtra led state contributions with over ₹3.61 lakh crore. The composition of GST revenue shifted, with IGST, SGST, and CGST increasing their shares, while compensation cess declined.
The Economic Times TPG-backed digital lender Fibe files for India IPO
Digital lender Fibe, backed by TPG, has filed for an Indian IPO, aiming to raise up to 7.5 billion rupees to expand lending to middle-income consumers. The company reported a significant jump in revenue and profit for fiscal 2026. Existing shareholders, including TPG's Rise Fund, Norwest Capital, and Eight Roads Ventures, are also looking to sell a portion of their stakes. Proceeds will bolster its lending arm, EarlySalary Services.
The Economic Times Explained: How will GST investigations, audits and appeals work after a taxpayer changes location?
The CBIC has clarified how GST proceedings continue when businesses relocate their principal place of business. Actions taken by the original tax authority remain valid even after a taxpayer shifts jurisdiction. The new jurisdictional officer will now handle all pending matters, including appeals. This move ensures continuity for businesses and provides clarity to tax authorities on jurisdiction.
The Economic Times RBI compounds FEMA violations in Touras India case
The Reserve Bank of India (RBI) has issued a compounding order under Section 15 of the Foreign Exchange Management Act (FEMA), in the case of Touras India Private Limited, which has resulted in the termination of proceedings against the company for contraventions of the law's provisions with a one-time payment of Rs 26,950, according to a statement issued by the Directorate of Enforcement (ED) on Monday
The Economic Times IRFC appoints Ranjay Choudhary as Director of Finance and Deepa Kotnis as the CFO
Based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, the IRFC Board approved the appointment of Ranjay Choudhary as Additional Director, designated as Director (Finance), for a five-year term. His appointment follows an order issued by the Ministry of Railways, Government of India, and takes effect from June 30, 2026, the date he assumed charge.
The Economic Times ICICI Prudential Life plans 10-15% premium growth, bets on protection to outpace savings, CFO Dhiren Salian says
ICICI Prudential Life Insurance aims for 10-15% premium growth, with protection products like term and annuity plans leading the charge. CFO Dhiren Salian highlighted that protection, currently 17% of premiums, is a key focus due to its underpenetration and higher profitability. The company is also leveraging AI for operational efficiency and customer service improvements, while capital deployment is increasingly tilted towards the protection segment.
The Economic Times PFC-REC merger explained: Swap ratio, rationale, other key details as merger set to create Rs 11 lakh cr power financing giant
The proposed merger of Power Finance Corporation and REC will create India's largest power sector financing institution with a combined loan book exceeding Rs 11 lakh crore. Here's a look at the approved share swap ratio, merger rationale, pending approvals, record date details, and what the restructuring means for shareholders.
The Economic Times Exclusive: MCA set to notify SA 600, 40 revised audit standards by August
The notification will conclude one of the most significant regulatory exercises in India's audit landscape in recent years, aimed at strengthening audit quality and updating the country's auditing framework in line with evolving international standards.
The Economic Times Government extends GSTAT appeal filing deadline to July 31 amid portal rush, technical issues
The extension applies to appeals filed under Section 112(1) read with Section 112(3) of the Central Goods and Services Tax (CGST) Act. The earlier deadline notified by the government on September 17, 2025, was June 30, 2026.
The Economic Times GST SAMVAAD 2026 reviews nine years of GST, focuses on taxpayer-friendly reforms
GST officials in Gautam Budh Nagar convened GST SAMVAAD 2026 to reflect on the tax regime's nine-year journey. The event brought together tax experts, industry leaders, and trade representatives to discuss achievements, ongoing challenges, and strategies for a more transparent and efficient system. The focus was on fostering cooperation between tax authorities and taxpayers to enhance compliance and support economic growth through a simplified tax ecosystem.
The Economic Times How Ambani built Project Jupiter to launch India’s biggest IPO
Reliance quietly executed Project Jupiter to prepare Jio’s IPO while managing regulatory changes, investor alignment and strict secrecy. The plan evolved from an offer-for-sale to a primary issue, enabling funds to remain with the company and positioning Jio for India’s biggest stock market listing.
The Economic Times Nifty, Sensex trading flat after positive opening; investors track crude prices, global cues
Indian benchmark indices gave up their early gains and slipped into the red shortly after opening on Tuesday, as investors turned cautious despite support from lower crude oil prices and positive global market cues.
The Economic Times HUL appoints ex-Marico, Flipkart executive Koteshwar LN as Oziva CEO
In a significant leadership shift, Hindustan Unilever Ltd (HUL) has appointed Koteshwar L.N. as CEO of Oziva, its wellness nutrition brand. Koteshwar, with extensive experience from Marico, Flipkart, and Coca-Cola, will steer the wellness division amidst a surge in market interest. Additionally, his role extends to overseeing HUL's wellness portfolio, notably after acquiring a controlling stake in Liquid I.V.'s parent company, Zywie.
The Economic Times Bandhan Bank CFO Rajeev Mantri resigns citing career growth
Bandhan Bank's Chief Financial Officer, Rajeev Mantri, has resigned to pursue career growth, with his last day set for September 25. Mantri, who joined the bank in February, expressed gratitude for his tenure and enriching experience. The bank, headquartered in Kolkata, has yet to name a successor for the seasoned finance professional. This departure follows other recent announcements from Bandhan Bank, including increased Fixed Deposit rates and improved collection efficiency.
The Economic Times Gaming founders appeal to GST Council for personal liability relief after Supreme Court ruling
Real money gaming founders are urging the GST Council to shield them from personal tax liabilities and offer amnesty on past dues following a Supreme Court ruling. The industry faces significant retrospective tax burdens, with many firms already struggling or defunct. Legal experts advocate for the Council to use its powers to regularize the tax position, waiving penalties and interest to prevent widespread insolvencies and protect entrepreneurship.
The Economic Times "It's in last 1 or 2%": US envoy Sergio Gor declares India-US trade pact nears finish line
Dismissing rumours of diplomatic friction, United States Ambassador to India Sergio Gor on Monday (local time) announced that the highly anticipated India-US bilateral trade agreement is on the verge of completion, with negotiators hammering out the final "1 or 2 per cent" of the legal text.
The Economic Times Kolkata, Surat top million-plus cities in entrepreneurship
Kolkata, Surat, and Greater Hyderabad lead India's entrepreneurial landscape, housing over 22% of unincorporated businesses. These major cities also employ a significant portion of the nation's unincorporated workforce. Women are making substantial inroads, owning over a fifth of establishments in many large cities, with Surat, Vadodara, and Pune showing particularly high female ownership. Larger urban centers demonstrate higher productivity and greater formalization within the sector.
The Economic Times HDFC Bank appoints Puneet Sharma as CFO
HDFC Bank has appointed Puneet Sharma as its new Chief Financial Officer, effective December 1, 2026, bringing over 26 years of financial expertise from Axis Bank. Jigar Shah will join as General Counsel from October 1, 2026. Additionally, former Finance Secretary Rajiv Kumar is set to become the bank's Part-time Chairman, pending RBI approval, marking a significant addition to its leadership.
The Economic Times Former finance services secy Rajiv Kumar named HDFC Bank part-time chairman
Kumar (66), a seasoned public policy leader and financial sector reformer, is widely credited with playing a key role in revitalising India's banking and financial system during a period of significant stress between 2017 and 2020. During his tenure, he strengthened governance, risk management and regulatory oversight across banks by institutionalising specialised monitoring of large exposures and introducing technology-driven risk assessment systems.
The Economic Times Delhi Cabinet approves EV Policy 2026 with tax waivers, purchase incentives and scrappage benefits to boost clean mobility
The policy provides 100 per cent exemption on road tax and registration fees for electric vehicles, with the benefit applicable to four-wheelers priced up to Rs 30 lakh (ex-showroom). Purchase incentives include up to Rs 30,000 for electric two-wheelers, up to Rs 50,000 for electric three-wheelers and up to Rs 1 lakh for N1 goods vehicles. In addition, scrapping incentives ranging from Rs 5,000 to Rs 1 lakh will be offered for replacing older, polluting vehicles with electric models.
The Economic Times OYO parent's firm Prism files updated papers for Rs 6,650-cr IPO; existing investors not to sell stake
Hospitality giant Prism, parent of OYO, is aiming to raise Rs 6,650 crore via an IPO, with all funds coming from a fresh share issue. The company plans to use the majority of proceeds to repay borrowings. Prism has shown significant financial improvement, with revenue and profit surging in the first nine months of FY26. Its US business, boosted by the G6 Hospitality acquisition, is a key growth driver.
The Economic Times Cyber talent gap widens as demand for hybrid skills outpaces supply
"Modern cybersecurity sits at the intersection of digital platforms, AI deployment, regulatory accountability, operational resilience and customer trust.
The Economic Times Zerodha eyes foray into investment banking
India's leading retail broker, Zerodha, is making a significant move into investment banking. The company has applied to Sebi for a merchant banking license through its arm, Zerodha Corporate Advisors. This strategic expansion comes as the equity capital markets show strong potential, with experts noting ample room for new players possessing robust distribution and investor networks.
The Economic Times Private banking sector flux: CFO departures and leadership uncertainty amid regulatory changes
India's banking sector is experiencing significant leadership shifts, with multiple CFOs and senior executives departing private banks and even major institutions like LIC and SBI. This talent churn, driven by regulatory complexities and new opportunities, is creating a domino effect across the industry. Several banks are actively seeking new financial leaders, while some are also preparing for CEO transitions, highlighting a period of considerable flux.
The Economic Times AI investment boom may fuel financial risks
The Bank for International Settlements (BIS) has issued a stark warning about the financial risks stemming from the rapid expansion of Artificial Intelligence, citing concerns of overinvestment and inflated valuations. BIS also highlighted the inflationary pressures and supply chain vulnerabilities exposed by geopolitical conflicts, emphasizing the need for robust policy coordination to ensure economic stability and sustainable growth.
The Economic Times Asian stocks set for record-breaking quarter; dollar sinks gold and yen
Asian stocks showed mixed performance as a strong dollar pushed the Japanese yen to a four-decade low. Despite a record quarterly rise for Japan's Nikkei, South Korea's KOSPI dipped. Investors are rebalancing portfolios, selling Asian tech stocks despite strong gains, and seeking diversification in other sectors like defense and renewables. Upcoming US jobs data and Fed commentary will be key.
The Economic Times Like Singapore, India should consider one regulator for the financial sector: Former IRDAI Member
"In Singapore, there is only one regulator for the entire financial sector. We say India is a big country with a huge population. Then what is the use of fintech? What is the use of all the apps that we have developed?" said former IRDAI Member Nilesh Sathe, advocating greater integration among financial regulators.
The Economic Times HDFC Life partners with Tata Digital to offer life insurance products on Tata Neu
HDFC Life on Monday announced a corporate agency partnership with Tata Fintech, a subsidiary of Tata Digital, to distribute its insurance products and services through the Tata Neu platform
The Economic Times Bandhan Bank CFO Rajeev Mantri resigns, to leave in September
Bandhan Bank's Chief Financial Officer, Rajeev Mantri, has resigned, citing career growth as his reason for departure. Mantri, who also served as Executive President, submitted his resignation on June 29 and will officially leave on September 25. He expressed gratitude for the support received during his tenure, highlighting his contributions to the bank's strategic transformation. The bank has yet to name a successor for the key financial role.
The Economic Times BPCL to acquire 40% stake in Tiki Tar and Shell India for Rs 85 crores to strengthen Value-Added Bitumen business
Bharat Petroleum Corp. Ltd. has signed an agreement with Tiki Tar and Shell India Pvt. Ltd, to acquire 40 per cent equity stakes in the joint venture company, for a cash consideration of Rs. 85 crores, BPCL informed the bourses on Monday.
The Economic Times Randstad India appoints Narayan Iyer as managing director
Randstad India has appointed Narayan Iyer as its new managing director and chair of the management council. With over three decades of experience in IT services and consulting, Iyer will spearhead the company's four specialisations and shared service centres in India. His leadership aims to drive growth, enhance digital capabilities, and solidify Randstad's role as a key talent partner in the rapidly evolving Indian market.
The Economic Times Rail-focused logistics firm Pristine Logistics confidentially files IPO papers with Sebi
Pristine Logistics and Infraprojects has confidentially filed its DRHP with Sebi for an IPO. The rail-focused multimodal logistics company is expanding terminals, warehousing and cargo operations while strengthening growth with a Rs 3,422 crore coal mining contract and broader infrastructure footprint.
The Economic Times IIP data decoded: Manufacturing, electricity lift India's industrial growth to 5.1% in May
India's industrial activity showed robust growth in May 2026, with the IIP climbing 5.1% year-on-year, driven by strong manufacturing and electricity output. Capital goods led the expansion, surging 12.9%. The Ministry of Statistics also announced a significant methodological shift, replacing WPI with Output PPI for a more accurate real output estimation, aligning with global standards.
