Indian rupee hits 94 against dollar due to rising oil prices and uncertainty surrounding US-Iran peace talks. The rupee has declined over 1% this week and emerged as the worst-performing Asian currency in the year. The RBI's relaxation of forex restrictions has led to a spike in hedging demand, putting further pressure on the rupee.
Revolut co-founder Nikolay Storonsky, a tech entrepreneur, has become Britain's richest self-made tech billionaire at just 41 years old. His fortune is estimated at £16.4 billion ($22.2 billion) and could potentially reach $76 billion if the company goes public at a valuation of $200 billion. Storonsky's company, Revolut, has grown from a simple travel card to a global banking giant.
K Annamalai's new movement, Idhu Namma Iyakkam, received an incredible response with 10 lakh volunteers registering in just 10 hours. He left BJP and thanked supporters for their quick enrollment, citing differing views on Tamil Nadu. The launch has sparked party departures and speculation about Annamalai's political aspirations, with a focus on improving the state.
SEBI approved five new public issues during the week, including Oravel Stays Limited (parent company of OYO), Mehta Hitech Industries, Veegaland Developers, Advanta Enterprises and Truhome Finance. Oravel Stays Limited will raise Rs 8,430 crore, while Truhome Finance will raise Rs 3,000 crore.
The PFRDA has launched the Retirement Income Scheme (RIS) to assist retirees in handling income and longevity risks. It provides two options - SPR and SUR - and adjusts asset allocation annually. SPR is ideal for those with fixed expenses, while SUR is better for those with financial stability.
NTPC, India's state-run power giant, is seeking technology providers to develop coal-fired units that can operate at just 25% load, compared to the current minimum of 55%. This move comes as renewable energy capacity expands rapidly, creating a need for more flexible thermal generation to maintain grid stability.
The RBI's MPC has decided to maintain the policy rate at 5.25% due to concerns over inflation and growth, citing global uncertainty. Governor Sanjay Malhotra expresses worry about food inflation and potential rate hike. GDP growth forecast lowered to 6.6%, while CPI inflation forecast raised to 5.1%. Experts warn of potential challenges.
India's economy grew by 7.8% in the fourth quarter of FY26, driven by the service and construction sectors. Despite challenges from the West Asia conflict, the GDP for the year was at a high of 7.7%. However, the Reserve Bank of India has lowered its forecast for the current fiscal to 6.6% due to factors like high energy prices and supply disruptions.
RBI maintains repo rate, raises inflation forecast for FY27 to 5.1%. Economists predict tightening in second half, with 50 bps increase expected. Inflation projections for Q1-Q4 also raised due to global supply chain disruptions and commodity price shocks. Debate over immediate or gradual rate hike, but growing consensus for hike in August meeting due to inflation risks.
The rupee had a significant increase of 85 paise against the US dollar on Friday, its largest gain in two months. This was driven by the government and RBI's efforts to attract foreign investments, making the rupee the top-performing currency in Asia. RBI Governor Sanjay Malhotra announced measures to boost dollar inflows, while the government exempted foreign investors from capital gains tax.
The Mumbai-Pune Connecting Link has significantly improved traffic flow for commercial vehicles, resulting in measurable gains in speed, travel time, and fuel efficiency. The inclusion of cars and SUVs has also contributed to these improvements, with potential annual fuel savings of 2.7 crore litres and a reduction in driver fatigue.
A retired man earning Rs 10 lakh from rent can split the income with his wife to save on taxes, but she must be a co-owner and have contributed financially. Dividend income from regular stocks and InvITs is taxable based on their source. A father who paid his son's education loan can also claim tax benefits.
Indian Gas Exchange (IGX) saw a surge in trading volumes in May, with spot gas trade increasing by 130.39% year-on-year and 26.01% month-on-month. The rise in demand was driven by higher fuel requirements from the power sector, leading to a sharp increase in gas prices. The exchange also recorded physical deliveries, highlighting the growing acceptance of exchange-traded gas.
RBI maintains neutral stance on repo rate, but caution needed as rates may increase. Good time to lock in borrowing costs with 125 basis point cut. Inflation risks and policy approach dependent on oil price hikes. Home buyers should assess affordability and leave room for higher EMIs. Existing borrowers should review loan structure and consider prepayments.
The RBI's surplus transfers to the government have increased to Rs 2.97 lakh crore in 2025-26 from Rs 2.69 lakh crore in 2024-25 due to a new economic capital framework. This ensures the RBI's monetary independence without government recapitalization. The rise in surplus transfers is attributed to increased interest income, gains from forex operations, and balance sheet revaluation.
Petrol and diesel prices are set to rise by ₹5 per litre due to rising crude oil prices and state-run oil companies' under-recoveries of ₹610 crore per day. This could result in a total increase of ₹10 per litre, impacting the economy with higher transport costs and inflation.
RBI Governor Sanjay Malhotra and Deputy Governors reaffirm commitment to 4% inflation target and express confidence in foreign currency inflows to support balance of payments. No specific target set, but healthy inflow expected. 4% target remains important but not feasible to respond to every deviation. CPI forecast revised upward by 50 basis points, may affect rate hike decision.
CIL offers 35 MT of high-grade coal to sponge iron makers through auctions, supports domestic producers and cuts imports. Policy changes include selling surplus coal middlings in open market and increasing consortium partners. CIL continues coal allocation to power sector and plans SHAKTI auctions in June for 34 MT of coal.
India's economy is facing risks due to the ongoing conflict in West Asia, but domestic demand and economic activity remain resilient. The manufacturing, services, exports, and automobile sectors are all experiencing growth. The key factors to monitor are oil prices and monsoon uncertainty. The RBI has revised its GDP growth forecast for FY27, but experts believe it could exceed 7% in FY28.
The USFDA's approval of Zaynich, the first new chemical entity developed by an Indian pharmaceutical company, marks a milestone for Wockhardt chairman Habil F Khorakiwala. Despite challenges in the industry, Khorakiwala invested $800 million in antibiotic research over two decades. Zaynich has a potential global sales of $1-2 billion, showcasing the potential for Indian companies in innovation.
21-year-old Brooklyn Green's viral TikTok helped raise over $146,000 for 85-year-old movie theatre employee Mary Ellen Eron, who had no plans to retire despite fears of financial struggles. The elderly worker was surprised with a retirement fund and expressed gratitude for the generosity of strangers. AARP survey found that 1 in 4 US adults over 50 don't expect to retire.
South Central Railway has announced a special weekly train between Prayagraj and SSS Hubballi via Kacheguda to ease the rush of passengers during the pilgrimage season. The train will run once a week till July, providing six services in both directions. It will stop at major stations and include different types of coaches for passenger convenience.
IIT Delhi and 18 NITs have established a strong academic and research network through MoUs, enabling top NIT students to directly enter MTech, MS, and PhD programs at IIT Delhi without GATE exam. The ALIGN program promotes collaboration with funding and faculty exchanges, reflecting a move towards a more integrated higher education model in India.
Good news for Mumbai residents planning a trip to Goa this summer! The Central Railway Mumbai Division has announced a special one-way train service between CSMT and Madgaon Junction. The train will run on 14 June 2026, making it easier for passengers to travel during the peak holiday season. The train will stop at several important stations along the Konkan route and bookings will open soon.
IRCTC has implemented AI technology to monitor food preparation in 800 base kitchens across India. This ensures clean and safe food for passengers on trains. The AI system detects hygiene issues and contamination risks in real time, sending alerts for quick action. Additionally, IRCTC is also working to make ticket booking fairer for passengers.
India's largest two-wheeler and four-wheeler companies have entered the flex-fuel vehicle (FFV) segment with Hero MotoCorp launching its first mass-market flex-fuel motorcycles and Maruti Suzuki unveiling its mass-market flex-fuel car. An FFV can run on regular petrol, pure ethanol, or a blend of the two in the same fuel tank, making it a cleaner and more cost-effective option.
The Indian government and Reserve Bank of India have implemented measures to address the weakening rupee and potential increase in current account deficit. These include tax breaks and other incentives to attract foreign investors, which are expected to bring in $50-60 billion in inflows.
Tucked into the far Northeast, Ziro Valley in Arunachal Pradesh is one of India's last genuinely undiscovered destinations — a UNESCO-nominated landscape of paddy fields, pine hills, and Apatani tribal culture that has remained largely untouched. This is your complete guide to visiting Ziro in 2026 — before everyone else does.
Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, has received SEBI approval for its IPO. The company plans to raise Rs 3000 crore through a mix of fresh issue and offer for sale. The net proceeds will be used for capital requirements, growth of the business, and compliance with regulatory requirements.
Indian-origin US Congressmen Raja Krishnamoorthi and Suhas Subramanyam raised concerns about the growing backlog of delayed immigration cases, warning that the crisis will only worsen with policy revisions. USCIS data shows a tripled backlog in the last decade, and the congressmembers are calling for clarity on the impact of recent "enhanced security checks" on pending cases.
The Royal Enfield Bullet, the world's oldest motorcycle, is known for its comfortable seating, reasonable price, and impressive exhaust sound. Its 648-cc engine and classic design make it stand out, but its weight may be an issue in traffic. Overall, it's a perfect choice for history buffs or those seeking a unique riding experience.
Audi has unveiled its first-ever supercar, the Nuvolari, named after prewar racing driver Tazio Nuvolari. With a high-performance hybrid powertrain, it will be the fastest and most powerful road-going Audi ever, limited to 499 units globally. The supercar boasts a 4.0-litre V8 biturbo engine, three electric motors, and advanced features like active aerodynamics and all-wheel drive.
Hyundai Motor India plans to launch a new electric SUV, HE1i, by 2026, based on the E-GMP architecture. The company is investing over ₹26,000 crore in Tamil Nadu to establish it as their flagship EV manufacturing hub, with a focus on localisation, supply-chain development, and workforce training. Hyundai aims to tap into the growing demand for electric vehicles in the mass-market segment.
Kolkata to adopt Water Metro system, inspired by Kochi Metro. Aims to improve water transport, ease road congestion, and provide eco-friendly travel options. Proposals worth ₹22,700 crore prepared, including 44 new jetties and 75+ electric boats. Will benefit commuters and improve connectivity in river areas.
PM Modi will inaugurate key sections of the Vadodara-Mumbai Expressway today, reducing travel time and boosting connectivity between major industrial and urban centres. This is part of a larger effort to strengthen road networks and support economic growth in western India. The expressway is a crucial part of the Delhi-Mumbai Expressway project.
K Annamalai, former Tamil Nadu BJP chief, has formed a new political movement to contest the upcoming Assembly elections. He left BJP due to ideological and strategic differences and will now focus on Tamil interests. He assures that he has always prioritized Tamil Nadu's identity, culture, and water rights, and his decision to leave BJP was not influenced by their poor performance.
Assam Chief Minister Himanta Biswa Sarma expanded his cabinet with 12 new ministers, including 3 newcomers, bringing the total strength to 17. This reflects the BJP-led NDA's dominant mandate in the Assembly, with 13 BJP ministers. The induction also brings regional and ethnic balance to the cabinet.
The Adani-led Dharavi redevelopment project in Mumbai aims to transform the dense informal settlement into a smart city with multi-modal transport and commercial opportunities. It includes 95 million square feet of housing, social infrastructure, and major transport infrastructure.
RBI maintains 5.25% interest rate, citing Middle East tensions and oil prices. Inflation forecast for FY27 increased to 5.1%, while GDP forecast lowered to 6.6%. Rupee impacted by capital outflows, RBI ready to intervene. Liquidity and forex reserves stable, but current account deficit may widen due to energy prices and trade uncertainties.
Vinod Khosla, an Indian-origin venture capitalist, has been named the world's best investor by Forbes. He co-founded Sun Microsystems and founded Khosla Ventures, and is one of the 17 Indian-American venture capitalists on the Forbes 2026 Midas List. His early investments in software and technology, combined with his education from prestigious institutions, have contributed to his success.
Karnataka Minister Ramalinga Reddy clarifies his resignation, remains loyal to Congress after 50 years. Chief Minister Shivakumar downplays the issue and promises to resolve it. The resignation exposes issues in portfolio distribution and poses an early challenge for the new Cabinet. Reddy denies lobbying for a ministerial position.
IndiGo has announced the temporary suspension of flights to six Asian destinations from July 1 to September 30 due to high costs. This includes popular leisure markets in Southeast Asia and China, with bookings resuming on October 1. The decision is part of the airline's efforts to adjust its capacity and reflects the challenges faced by the industry during these uncertain times.
Karnataka government offers a one-time 50 percent concession on penalties for pending traffic violation cases registered through e-Challan system. The concession is available for 20 days from June 21 to July 10, 2026, and applies to cases registered between 1991 and 2022. This measure has been introduced in the public interest and is similar to a previous concession offered in August 2025.
Wipro's share price dropped by 6% as the record date for their Rs 15,000 crore share buyback approached, making June 5 a crucial day for shareholders. This decline is not due to financial struggles, but rather a planned corporate action. The buyback will involve purchasing 60 crore shares at Rs 250 each, with the last day to buy shares being June 4.
Jefferies gives 'Buy' rating to Poonawalla Fincorp, expecting strong growth with new leadership, product expansion, and improved asset quality. Target price of Rs 490 implies 23% upside potential. Management refresh with HDFC Bank backgrounds, launch of new lending products, and expected improvement in margins and return ratios are driving the optimism.
Aditya Birla Group Chairman Kumar Mangalam Birla believes that India is at a crucial juncture of transformation, offering a once-in-a-generation opportunity to become a global economic powerhouse. He highlighted the country's demographic strengths, infrastructure expansion, digital reforms, and financial inclusion as key pillars of this vision.
Taylor Swift has joined the billionaire club thanks to her successful music career and business savvy. Her net worth of $2 billion is a result of her record-breaking Eras Tour and buying back her first six albums. The tour, with over 150 shows and a documentary series, was a billion-dollar success, proving her loyal fan base.
The Trump administration has made changes to the H-1B work visa program, and Congress has introduced the American White-Collar Worker Jobs Act to prioritize American workers. The bill has gained support and the administration has implemented new policies affecting the program.
Bangladesh's Border Guard has foiled multiple attempts by Indian personnel to illegally bring people into their territory, reigniting a dispute over undocumented migration and hindering efforts to improve relations. The BGB detected 10 such attempts and declared that no one will be allowed to enter illegally.
India's move towards clean energy could generate 44 lakh full-time jobs by 2030. A study by CEEW and NRDC India, with support from MNRE, identifies rooftop solar as the main job creator. However, there are concerns about gender imbalance in the sector.
FCI is constructing modern silos under the PPP model to add 5 MT of storage capacity in the next two years. Private players have completed 3.9 MT of silos and 2.35 MT are under construction. Adani and Leap India are leading the projects, with a total of 4.65 MT of capacity. FCI aims to have 9 MT of silos by 2028, reducing grain damage and improving storage efficiency.