RBI removes prior approval for opening Special Rupee Vostro Accounts (SRVAs), aiming to speed up the process and promote rupee-based trade settlements. This move is part of the central bank's efforts to internationalize the Indian Rupee and reduce reliance on the US dollar. The banks must still adhere to existing regulations and due diligence processes.
IMD has issued alerts for several states, including Bihar and West Bengal, as a deep depression is forecasted over Odisha and another over the northeast Arabian Sea. After days of heavy rainfall, Mumbai woke up to clear skies, but light to moderate rain is expected with gusty winds in isolated locations. Some regions in Bihar are on red alert, while others are on orange alert.
Google warns of extortion emails targeting executives, with hackers claiming to have stolen sensitive data from Oracle. The ransomware gang cl0p takes responsibility, but Google cannot verify. Extortion demands range from millions to $50 million, with potential ties to cl0p. Cybersecurity experts are investigating.
103 Maoists surrendered in Chhattisgarh's Bijapur district, with weapons worth over Rs 1 crore, and were given a Rs 50,000 incentive. In a separate incident, three Maoists were killed in a gun battle in Kanker district. This is part of intensified counter-insurgency measures in the Bastar division, with several high-profile Maoists being neutralised.
A 35-year-old British-Syrian man, Jihad Al-Shamie, was identified as the suspect in the deadly attack at a Manchester synagogue. He rammed his vehicle into people and stabbed a security guard on the holiest day for Jews. Al-Shamie was shot and killed by police, and was not previously known to anti-terrorism or police officials.
Sana Mir clarifies her "Azad Kashmir" remark during the ICC Women's World Cup 2025 match between Bangladesh and Pakistan. Her words were misinterpreted on social media, but she explained that her research from ESPN showed Natalia Pervaiz as being from "Azad Jammu and Kashmir". She stated there was no malice in her heart towards the player.
Russian President Vladimir Putin praised India and its Prime Minister Narendra Modi, while also criticizing US President Donald Trump's trade policies. He emphasized the special relationship between Russia and India, dating back to the Soviet Union, and expressed his excitement for his upcoming visit to India in December.
Putin warns the US against supplying Tomahawk missiles to Ukraine, saying it would trigger a dangerous escalation. He also responds to Trump's remark calling Russia a "paper tiger" by questioning NATO's strength and mocking European claims of Russian airspace violations. Putin portrays the war in Ukraine as a watershed moment in Russia's relations with the West and urges NATO to "cool down".
President Trump has declared the US to be in a non-international armed conflict with drug cartels, allowing for deadly strikes on boats near Venezuela. Critics question the legality and lack of new rationale, raising concerns about future military strikes and the use of the term "unlawful combatants."
11 people, including 5 girls and 2 boys, died in a tragic incident in Madhya Pradesh's Khandwa area. A tractor trolley carrying 14 people submerged in the Abna river, leaving 3 rescued and 1 in critical condition. The Chief Minister has announced Rs 4 lakh ex gratia for the deceased families and instructed for proper treatment of the injured.
Government orders inquiry into bribery allegations against Chennai customs officials by Wintrack, a Chennai-based firm. The company announced it will cease import/export activities in India due to harassment by customs officials. Government promises to take appropriate action and is committed to improving ease of doing business.
Nayara Energy, owned by Rosneft, faces challenges due to international sanctions but is gradually recovering with a shift to Russian crude. The company's imports are now entirely from Russia, stabilizing its operations. Compliance and shipping issues have caused a decline in exports, but they are expected to improve in Q4.
The National Stock Exchange (NSE) saw a significant increase in market share and average daily turnover in September, while the Bombay Stock Exchange (BSE) experienced a decline for the first time in three months. This can be attributed to changes in the derivatives market.
Abu Dhabi's International Holding Company PJSC to acquire 41.2% stake in Sammaan Capital for Rs 8,850 crore, marking the largest investment in a non-banking financial company in India. The deal includes a preferential allotment of equity shares and warrants at Rs 139 per share, with an open offer for an additional 26% stake.
The recent GST rate cuts have resulted in a 20-40% increase in sales for durable, fashion, and footwear sectors in the past ten days, including the festive season of Dussehra. This trend is expected to continue until Diwali in mid-October, with major retailers and companies reporting a surge in sales for large-panel TVs, dishwashers, air conditioners, and apparel and footwear.
The Indian gaming industry is shifting away from real money gaming due to a new law, leading developers and investors to focus on casual titles, mid-core games, and esports. India's large gamer base of 400 million is driving in-app purchases, with revenues projected to hit $1 billion by 2024. Mobile gaming is the main source of revenue, with young male gamers being the top spenders.
FMCG companies, like HUL, are facing a slowdown in growth due to trade disruptions caused by the GST reforms. Q2 saw flat growth due to destocking by trade and delayed consumer buying. Prices are expected to stabilize in November, but retailers are slow to pass on the benefits. Other companies, like Dabur and Marico, are also expected to report the impact of stock adjustments on Q2 performance.
September saw a sharp increase in new car sales, thanks to GST rate cuts and dealer discounts. Registrations rose by 45%, contributing to a 6% growth in the first half of the year compared to last year. Maruti Suzuki, Mahindra & Mahindra, and Tata Motors all experienced a surge in sales, fueled by the festive season and attractive pricing.
IndiGo announced the resumption of flights to mainland China with the launch of daily, non-stop flights between Kolkata and Guangzhou from October 26. The airline will also introduce direct services between Delhi and Guangzhou in the near future. This move aims to boost bilateral ties, cross-border commerce, and tourism between the two nations.
Despite positive outlook from government and rating agencies, high-frequency indicators for India's economy in the first half of the fiscal year show challenges. While inflation has decreased and GST reforms have helped consumption, indicators like industrial production, exports, and new projects show a gloomy scenario. However, GST collections and GDP growth remain stable.
TCS has completed majority of the layoffs it previously announced, with only a few remaining. The company had announced a 2% reduction in workforce, with severance payouts ranging from six months to two years of salary. Employees on bench for over eight months will receive three months' notice pay. Early retirement option and career assistance are also being provided.
Celebrated Indian artist M.F. Husain's life and legacy will be honored with the opening of the Lawh Wa Qalam: M. F. Husain Museum in Doha, Qatar. The 3,000 square meter museum will showcase his diverse body of work, including his final masterpiece "Seeroo fi al ardh." The museum's design, based on Husain's own sketch, will serve as an extension of his artistic imagination.
Multi-asset funds have surpassed debt and equity schemes this year, with a 10% average return and ranking fourth among all categories. Gold and silver have played a significant role, with some fund houses seeing returns of 14.2%-15.2%. Other successful strategies include dynamic allocation and model-driven investing, but maintaining gold allocation should be done with caution.
US government shutdown begins as last-ditch Senate vote fails. Anvitii Rai explains impact within and outside US, and why bipartisan resolution is only way forward. US federal spending governed by 12 Appropriation Bills, each handled by sub-committees under Appropriations Committees. Shutdowns more frequent in US due to divided power structure.
Indian dating apps are gaining popularity due to their ability to address cultural stigma, gender imbalance, and low user willingness to pay. These homegrown platforms offer unique features like income verification and vernacular options to cater to Indian users. With a focus on gender balance and technology, they are experiencing steady growth and profitability.
The government's electronics component manufacturing scheme has exceeded expectations with investments worth Rs 1.15 lakh crore, double the expected production and 1.5 times more employment. This is due to global trust in India's manufacturing and the government's focus. A detailed breakdown of applications will be released and proposals will continue to be considered.
The Insolvency and Bankruptcy Code (IBC) has been successful in recovering Rs 3.96 lakh crore for creditors through resolution plans, which is 33% of total claims admitted. It has also led to the recouping of Rs 9,607 crore from closed liquidation cases. The IBC has resolved 1,258 cases and liquidated 2824 cases, with ongoing cases at 1905. The total number of cases admitted under IBC is 8492
Trade negotiators from India and ASEAN will meet in Jakarta to review their goods trade agreement. The slow progress has been a concern, but with a joint committee and eight sub-committees, both sides are determined to complete the review by the end of the year. India is pushing for a rebalancing of the pact, with deadline approaching and global uncertainty negotiations are expected to accelerate.
Google Cloud Security is focusing on partnerships with the public sector in the Asia-Pacific region, particularly in India, to strengthen security as the foundation for digital transformation. India's unique scale and diversity make it a key testbed for the company. With the acquisition of Mandiant, Google can provide insights and proactive defence for traditional sectors.
From studying under a tree in a remote Indian village to building one of the world’s biggest cybersecurity firms, his journey is nothing short of extraordinary. Today, with a fortune of around $17.9 billion, he holds the title of the richest Indian in America — Jay Chaudhry.
The CACP has suggested raising import taxes on pulses and banning yellow peas imports to aid local farmers. Government's duty-free imports have caused low prices, contradicting self-sufficiency goals. A new report emphasizes the need for better seeds and varieties. Despite a mission for self-sufficiency by 2030-31, import dependency has increased significantly.
The Indian government is enforcing the use of AI agents in the insolvency process to enhance efficiency, transparency, and accuracy. The Insolvency and Bankruptcy Board of India (IBBI) sees AI as a solution to delayed resolutions, fraud, and data overload. The IBBI has identified several AI agents to detect fraud, predict outcomes, and simplify compliance.
The government plans to improve the National Pension System (NPS) by introducing new options for subscribers, such as wealth maximisation, assured benefits with inflation protection, and innovative mechanisms for predictable retirement income. The PFRDA has proposed three schemes to offer customised retirement income, along with allowing fund managers to offer schemes with 100% equity exposure.
Bengaluru's infrastructure issues and traffic congestion in the south have prompted an Andhra Pradesh minister to suggest companies shift to the north. Karnataka's IT-BT minister defends the city's projected GDP growth and urbanization rate, accusing the Andhra minister of "desperate scavenging" and being a "parasite".
Black raisins are a scientifically proven snack that can effectively lower high blood pressure. Consuming a small amount three times a day has been shown to have a significant impact due to their high levels of potassium, antioxidants, and soluble fiber. They also aid in weight loss and blood sugar control, making them a beneficial choice for heart health.
The Hurun India Rich List 2025 features familiar names like Mukesh Ambani and Gautam Adani, but one surprising addition is Vikas Oberoi, husband of former actress Gayatri Joshi from Swades. Ranked 58th, Oberoi’s net worth of ₹42,960 crores surpasses not just Bollywood stars like Shah Rukh Khan, Hrithik Roshan, Karan Johar, Juhi Chawla, and Amitabh Bachchan, but also their combined fortunes.
Chennai Customs officials are accused of corruption and demanding bribes by Wintrack Inc, a logistics firm. The government denies any wrongdoing and blames the importer for misdeclaration and misclassification. However, the founder of Wintrack Inc, Prawin Ganeshan, stands by the allegations and presents evidence of bribes paid.
The Patriot teaser, featuring Mammootty and Mohanlal, has been released, creating excitement on social media. The espionage film, directed by Mahesh Narayan, promises an action-packed plot and marks Mammootty's return after an illness. The teaser gives a glimpse of a retired JAG officer's covert mission to clear his name and protect his nation.
Jolly LLB 3, starring Akshay Kumar and Arshad Warsi, has officially entered the Rs 100 crore club in its second week. Despite a decline in sales, the film's star power and hard-hitting theme made it a family-friendly hit. However, with new Dussehra releases, Jolly LLB 3 may lose traction at the box office. The film had a 13.49% overall occupancy rate in its second week, with Kolkata
Lionel Messi, the football legend, is set to embark on his GOAT tour to India in 2025, his second visit to the country in 14 years. The tour will feature four cities and a range of events, including masterclasses, concerts, and meetings with Indian Prime Minister Narendra Modi. Rumors suggest a visit to Kerala in November. Tickets for the event start at Rs 3,500.
Defence Minister Rajnath Singh attended a multi-agency capability exercise and performed the Shastra Poojan ceremony in Kutch. He warned Pakistan against any misadventure in the Sir Creek area and expressed concerns over their recent military build-up. Singh emphasized India's efforts for peaceful resolution but stated that any aggression would be met with a decisive response.
TCS is restructuring its workforce due to changing demand and automation, offering up to two years' salary as severance packages to long-serving employees. The company has implemented a 35-day bench policy, cut 2% of its workforce, and is delaying the onboarding of 650 lateral hires. Affected employees will receive notice period pay and career transition assistance.
October is a month of festivals in India, starting with Dussehra on October 2 and ending with Chhath Puja. In between, several important festivals like Diwali, Karwa Chauth, and Valmiki Jayanti are celebrated. The month also marks the birth anniversary of Mahatma Gandhi and the author of Ramayana, Valmiki. The Diwali festival period begins on October 18, with Dhanteras, and ends on October
Pakistan and Bangladesh will begin their ICC Women's ODI World Cup journey on Thursday, with the goal of surpassing their past performances. Led by Fatima Sana, Pakistan will face India in a highly anticipated match. Bangladesh, who has shown growth since their debut in 2022, is determined to make their fans proud.
Jeon Hye Bin, star of K-drama Beyond the Bar, warned followers of theft in Ubud, Bali after losing 15 million Korean won during a family trip. She went there to celebrate her son's birthday and revisited her wedding location in Bali.
Varun Dhawan and Janhvi Kapoor’s rom-com Sunny Sanskari Ki Tulsi Kumari, produced by Dharma Productions, has sparked mixed reactions on X (formerly Twitter). While some viewers praised its light-hearted humor, colorful sets, and the cast’s sparkling chemistry—especially Varun and Janhvi—others dismissed it as overhyped, unoriginal, and boring.
Nuvama Institutional Equities raises target price for Bajaj Consumer Care by 5.5% due to GST rate cut and positive monsoon forecast. Company aims for double-digit revenue growth and mid-to-high single-digit volume growth in the ADHO portfolio over the next 5 years. GST cuts to benefit the majority of the portfolio, plans to expand presence in lower unit packs for further growth.
Taylor Swift's highly anticipated album 'Life of a Showgirl' is set to release tomorrow, but it has been overshadowed by leaked lyrics and a controversy involving Kai Trump's clothing line. The 17-year-old granddaughter of President Trump has been accused of copying a logo from a collaboration with NFL player Travis Kelce, while Swift remains focused on her album release.
The Election Commission of India has released the final voter roll for Bihar with 7.42 crore eligible voters after conducting a Special Intensive Revision (SIR) process to remove illegal voters and ensure fair elections. This process resulted in a decrease of 47 lakh voters from the initial list and addressed the opposition's claims of "vote theft."
In August, India's power sector saw a 4% YoY growth in demand and generation, thanks to factors like higher rainfall and capacity addition. Hydro and renewable sources played a significant role in this increase. Power tariffs remained stable, while coal production and raw material prices saw a slight rise. This growth signals a recovery after a sluggish period.
Maharashtra government allows establishments to operate 24 hours a day, except for businesses serving alcohol. This decision aims to boost business and improve the night-life experience for people. One of the key requirements is to ensure employees get a weekly break of 24 hours. Theatres can now operate without time restrictions, increasing earnings for shop owners during the festive season.