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INDIA BUSINESS | Sat, 3 Oct 2026, 3:00PM IST A step-by-step guide to aligning your budget and investments with your actual take-home pay to build a sustainable financial plan

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GLOBAL NEWS | Sat, 3 Oct 2026, 2:33PM IST The president, who had hoped to tout a growing economy on the campaign trail, has found it hard to break through as workers wages fail to keep up.

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GLOBAL NEWS | Sat, 3 Oct 2026, 2:31PM IST Fewer orders and higher costs are squeezing restaurants big and small as people on the weight-loss drugs eat and drink less when dining out.

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INDIA NEWS | Sat, 3 Oct 2026, 2:28PM IST Sanjay Malhotra said future crises could emerge from geopolitics, cyberattacks or technology failures, requiring resilience across banks, markets and financial infrastructure

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INDIA MARKET | Sat, 3 Oct 2026, 2:24PM IST India has maintained a cautious approach towards cryptocurrencies while promoting the underlying technologies such as distributed ledger technology and tokenisation, RBI Governor Sanjay Malhotra said on Saturday. Malhotra said India supports innovation in technologies underlying crypto assets, including distributed ledger and tokenisation, but remains cautious about cryptocurrencies due to concerns over monetary sovereignty, monetary policy and capital flows. "So, our approach has been to promote the underlying technologies, and we are using some of these in the central bank and outside in PPP (public-private partnership) mode. But insofar as crypto is concerned, it has been a cautious approach," he said at the Kautilya Economic Conclave. Expressing concerns about cryptocurrencies, the RBI Governor said it is related to the 'singleness of money' and their potential implications for monetary policy, particularly in emerging market economies, where capital flow restrictions are in ...

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INDIA NEWS | Sat, 3 Oct 2026, 2:18PM IST New Delhi: A potential RBI rate hike is unlikely to trigger broad-based asset quality stress among non-banking financial companies (NBFCs), with risks likely to remain confined to select segments unless accompanied by a prolonged tightening cycle or a major macroeconomic shock, Nuvama Institutional Equities said in its October report.As per the report, NBFCs currently have healthy asset quality, at the same time, past trends indicate rate hikes alone have not caused broad-based stress.Also read: RBI Governor Sanjay Malhotra flags rising financial risks, warns against complacency as West Asia conflict adds to inflation pressure"...monetary tightening by itself has not been sufficient to trigger a broad-based deterioration in NBFC asset quality," it said, highlighting, "Stress has typically intensified when rate hikes have coincided with prolonged external shocks or funding/liquidity disruptions."It noted that during the FY22-24 tightening cycle, NBFC asset quality improved despite a 250-basis-point increase in the repo rate, supported by strong credit growth, higher write-offs, better underwriting and stronger provision buffers.Citing RBI, the report further highlighted, gross non-performing assets (GNPAs) declined from 5.7 per cent in March 2022 to 4.6 per cent in March 2023.On current risks, the report said the impact of the West Asia conflict and global spillovers has so far remained limited to select segments."Importantly, the impact of the West-Asia conflict and global spill-overs has so far remained contained and confined to select low-ticket unsecured PL, BL, micro-LAP, and CV/CE segments," it said.At the same time, it noted, El Nino-related risks have remained limited so far, "but warrants monitoring as the real impact possibly could be visible with a lag as winter crop gets impacted."However, healthy capital and provision buffers across most NBFCs, along with abundant systemic liquidity and support to credit growth, are expected to cushion headline asset-quality ratios.Thus, "any deterioration is more likely to remain pocketed and segment/player specific rather than broad-based, unless rate hikes become prolonged and are accompanied by a material external or macroeconomic shock."Regarding profitability, Nuvama said the impact of the interest-rate cycle on NBFC margins would vary depending on how quickly assets and liabilities reprice.At the same time, it noted, "The impact of a rate cycle on NBFC margins is unlikely to be uniform with the key differentiator being the mismatch between the repricing of existing assets-liabilities and incremental movement."

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INDIA BUSINESS | Sat, 3 Oct 2026, 2:18PM IST A report from Nuvama Institutional Equities indicates that a potential RBI rate hike may not significantly stress NBFC asset quality. Past trends suggest that rate increases alone typically do not lead to widespread deterioration. Current impacts from the West Asia conflict have been limited to specific segments and are not broadly felt. Additionally, healthy capital buffers and systemic liquidity are expected to mitigate potential risks.

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INDIA MARKET | Sat, 3 Oct 2026, 2:10PM IST Cube Highways Trust has triumphantly secured Rs. 1,150 crore by issuing senior secured NCDs, boasting a competitive coupon rate of 7.50% per annum, payable quarterly for five years. Major institutional players, Axis Bank Limited and ICICI Bank Limited, were pivotal investors in this transaction. The proceeds will facilitate debt refinancing and support ongoing capital projects, as part of an ambitious financing initiative targeting Rs. 4,500 crore.

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INDIA MARKET | Sat, 3 Oct 2026, 2:08PM IST Securities and Exchange Board of India will release a framework regarding changes to the Closing Auction Session mechanism. The regulator reviewed comments on its consultation paper about market timings and settlement methodology. Sebi intends to address specific issues related to derivatives settlement prices after consultations. Regulatory measures for corporate bond derivatives are also being developed to promote market growth.

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INDIA MARKET | Sat, 3 Oct 2026, 2:06PM IST Chairman Tuhin Kanta Pandey said the market regulator would quickly examine responses to its consultation paper on changes to CAS, market timings and settlement of derivative contracts

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INDIA NEWS | Sat, 3 Oct 2026, 2:05PM IST Karachi: On the chaotic streets of Pakistan's biggest city, Karachi, where motorcycles weave through relentless traffic and street crime remains a concern, four women are challenging the idea that food and parcel delivery is a man's job.Mehak Baloch, Rubab Jubani, Sana Urooj and Kiran Fateh have chosen the motorcycle as their route to financial independence, taking up delivery work to support their children and families.Their journeys are different, but the circumstances that pushed them onto the roads are strikingly similar.For these women, riding through Karachi is not simply about earning a living. It is also about negotiating a society where women on motorcycles, particularly those working on the streets, remain an uncommon sight.At 32, Mehak Baloch has been working as a food delivery rider since her husband died of a terminal illness four years ago. Her earnings have since helped keep her household running and support her four children."At first I used to go out for work dressed and looking like a man as I felt insecure. But over time, I feel more confident now about going to work every day. Nothing can give me the happiness I get from providing for my four children independently," Baloch said.Sana Urooj was divorced by her husband and left to raise their two children. Instead of allowing the circumstances to hold her back, she decided to take up delivery work."I saw an interview about Rubab Jubani, how she became Karachi's first female food delivery rider to support her family, and it inspired me. Thankfully, my family has been supportive as well," Urooj said.Jubani, the oldest of the four, began working as a food delivery rider in 2019. She had always been passionate about riding motorcycles and received encouragement from her father.But when she started working, her father worried about what people might say and do, as well as the security situation in Karachi."I just told him Allah will look after me," Jubani recalled.The profession also gained a new importance during the COVID-19 pandemic, when demand for home deliveries surged as people stayed indoors.Today, thousands of delivery riders criss-cross Karachi on motorcycles. For a city of more than 20 million people, delivery work has become an important source of livelihood for many who have limited opportunities in traditional blue-collar jobs.Karachi's reputation as a city of food lovers has also helped fuel the growth of digital food delivery, with residents increasingly relying on online platforms to have meals brought to their doorsteps.Kiran Fateh, also a single mother, says she had to overcome social expectations and personal hardships before she could become financially independent."I chose to take control of my life after a hardship in our family. Balancing motherhood and trying to be financially independent are tough but rewarding," Fateh said.Female motorcyclists remain relatively uncommon on Karachi's roads in 2026. But there are signs that the barriers to women's mobility are slowly being challenged.The Sindh government has recently launched a scheme to provide electric scooters to women, aimed at helping working professionals, students and female entrepreneurs overcome transport barriers and become financially independent.The scheme, managed by the Sindh Mass Transit Authority, gives priority to single mothers and widows.For Fateh, such initiatives are a sign that attitudes are changing, both within institutions and on the streets."For female delivery riders like me, initially people used to stare curiously and oddly at me and even pass negative remarks about my appearance, and there were safety concerns."But as I kept on working, even late at night, I saw more encouragement and protective appreciation from everyone," she said.She has also experienced another, less expected, side of working on the streets, saying she had been given big tips many times just to show appreciation for her grit and courage."I have also witnessed how male riders in our field are always prepared to help us out and give us a sense of protection," she added.For Baloch, however, the most difficult part of the job is more mundane -- Karachi's traffic and the sheer amount of time spent on the road.The gruelling schedule can leave her exhausted as she tries to balance long hours of work with her responsibilities as a mother."But I know that in these tough economic conditions at least I am trying to secure a future for my children," she said.Despite the risks associated with working late and travelling through unfamiliar parts of the city, none of the four women said they had fallen victim to street crime while making deliveries.Urooj said one reason was the support they receive from male colleagues. "Our male colleagues guide us by telling us which areas to avoid for deliveries, and our company also doesn't allow us to take orders for certain areas to avoid any mishaps," she added.For these four women, the motorcycle has therefore become a way to earn, raise children and, perhaps most importantly, claim a little more space for themselves on the streets of Karachi.

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INDIA MARKET | Sat, 3 Oct 2026, 2:01PM IST Market regulator Sebi will soon issue a framework on proposed changes to the Closing Auction Session (CAS) mechanism after receiving more than 3,500 comments on its consultation paper, its Chairman Tuhin Kanta Pandey said on Saturday. The Securities and Exchange Board of India (Sebi) had sought public comments on its proposal to review certain aspects of the CAS, market timings and the settlement methodology for derivative contracts. The deadline for submitting comments is October 3. Asked when the final framework or circular on CAS can be expected, Pandey said the regulator would quickly examine the responses and move ahead with the process. "Today is the last date, and we will actually quickly look at all these comments and go ahead, because I think our proposals are quite clear," Pandey said at an event organised by CPAI (Commodity & Capital Market Participants Association of India). The regulator would not require much time to compile and analyse the responses as the proposals

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INDIA NEWS | Sat, 3 Oct 2026, 1:57PM IST Reserve Bank Governor Sanjay Malhotra on Saturday said the resilience of the financial system today should not be taken as a guarantee against future vulnerabilities and called for continued vigilance to safeguard financial stability. Speaking at the Kautilya Economic Conclave here, he outlined five priorities for policymakers, stressing that financial stability should focus not on preventing shocks but on strengthening the financial system's ability to withstand and contain their impact. "Today's resilience may not necessarily imply tomorrow's immunity, and we are committed to remain vigilant of emerging vulnerabilities and continue to keep our financial system strong and resilient," he said, highlighting the resilience of the financial system supported by healthy balance sheets of banks and NBFCs. He said shocks, whether endogenous or exogenous, are inevitable and the objective should be to build a financial system capable of providing financial services even under severe ...

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INDIA MUTUAL FUNDS | Sat, 3 Oct 2026, 1:50PM IST Debt funds whose returns are more than a conventional fixed deposit instrument.

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INDIA BUSINESS | Sat, 3 Oct 2026, 1:33PM IST The India Mobile Congress 2026, taking place from October 7 to 10, emphasizes the Suraksha venue, dedicated to advancing digital infrastructure, next-gen connectivity, and robust cybersecurity. Attendees will benefit from various sessions including panels on spectrum management and satellite communications, culminating in an insightful summit on cybersecurity led by prominent industry leaders.

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INDIA MARKET | Sat, 3 Oct 2026, 1:31PM IST In the past 24 hours, Bitcoin and Ethereum were down 1.6% and 1.5% respectively. Among the major altcoins, BNB, Dogecoin, Solana, Hyperliquid, Dogecoin and Cardano corrected upto 3.1% whereas Tron was up 0.3%.

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INDIA NEWS | Sat, 3 Oct 2026, 1:30PM IST New Delhi: Principal Secretary to the prime minister, P K Mishra, on Saturday said export restrictions, sanctions and tariffs become instruments of economic policy and they are sometimes even weaponised.The top government functionary also said that wars disrupt energy and food markets while shipping routes and geographical choke points become sources of economic vulnerability.Addressing the Kautilya Economic Conclave on the subject 'A World Priced for Risk', he said India is a major energy importer, and any prolonged disruption to an important maritime route can affect the economy adversely. India's response, therefore, has combined several layers of protection.Read more: RBI Governor Sanjay Malhotra flags rising financial risks, warns against complacency as West Asia conflict adds to inflation pressure"For energy security, the disruption around the Strait of Hormuz has been a particularly clear reminder of how geography can translate into economic risk," he said.Without mentioning any country, the top official said export restrictions, sanctions and tariffs become instruments of economic policy, sometimes they are even weaponised.The United States has in the past announced tariffs on a number of countries, including India, for a variety of reasons.Recently, the US has enacted the 'Lindsey O. Graham Sanctioning Russia and Iran Act of 2026', which authorises tariffs of up to 100 per cent on nations purchasing Russian oil and gas, including India and China.Mishra said India has maintained substantial stocks, increased domestic production where possible, diversified procurement, and ensured that alternative supply routes and suppliers are available.For example, he said, the number of countries from which India imports crude oil has increased from 27 to 43, which is "very large".Read more: RBI appoints Sudhakar Malli as Executive Director with effect from October 1"The same logic applies to energy transition. Greater domestic capacity in renewables, nuclear energy, storage and associated technologies is not only about sustainability, it is also about reducing exposure to external shocks over time," he said.Mishra said that another example is critical minerals and strategic industrial inputs, this being an area where distinction between efficiency and resilience becomes important."Critical minerals, technologies and even financial infrastructure acquire a new strategic significance," he said.The top official of the Modi government said there is another question arising -- if the energy will be available or if it can reach its destination."A disruption in a major shipping route can affect the price of crude oil thousands of kilometres away. Geography has therefore become an economic variable. The same is true for supply chain," he said.The principal secretary to the prime minister said uncertainty arises when people cannot reliably assign probability, and the events of this decade have brought this distinction into sharp focus."We have seen a pandemic disrupt production and mobility across the world," he said.Mishra said India has taken steps to strengthen domestic exploration, processing and recycling through the National Critical Mineral Mission.At the same time, he said, India has built a growing network of international partnerships on critical minerals, examples of those are with countries like the United States, France, Germany, Netherlands, and many others, for exploration, processing, recycling, technology and supply chain resilience.The principal secretary to the prime minister said there is one more form of resilience that, of course, is perhaps less visible, and that is macroeconomic resilience."A country facing an external shock needs room to respond. That room comes from fiscal space, adequate foreign exchange reserves, and a sound financial system and credible macroeconomic institutions. India has therefore continued on a path of fiscal consolidation while maintaining public investment," he said.Mishra said he believes that the world in the near future will belong to those who can be steady without being closed, careful without being fearful and ambitious without being naive, and India intends to be such a country."I hope that together, we can help build such a world," he said.The top official said the economic logic of globalisation was built around specialisation and the produce where costs are lowest, and goods move efficiently across borders."The logic remains relevant and even powerful. But the experience of the pandemic, geopolitical conflict and more recent disruptions has highlighted another consideration -- the cost of interruption," he said.Mishra said a supply chain that is efficient in normal times may be fragile if the single node supplier or geography becomes unavailable."We are seeing similar development in critical minerals. Lithium, cobalt, rare earths, and other minerals are essential to batteries, electronics, renewable energy and advanced manufacturing."But their extraction, processing and refining are highly concentrated geographically. Geography, we thought, technology has made it irrelevant. But it has returned to the centre of the table and it is not only oil," he said.Mishra said India's response to this changing risk environment reflects an important lesson from its own economic history."Resilience cannot be insulation from the world. It has to mean the ability to remain open to the world without becoming excessively vulnerable to it," he said.

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INDIA MARKET | Sat, 3 Oct 2026, 1:30PM IST India take on Malaysia in the 2026 Asian Games men's gold medal match on Oct. 3 in Japan.

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INDIA MARKET | Sat, 3 Oct 2026, 1:25PM IST Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty, options data, and an index strategy for the upcoming week. The following are the edited excerpts from his chat

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INDIA NEWS | Sat, 3 Oct 2026, 1:23PM IST Principal Secretary to the prime minister, P K Mishra, on Saturday said export restrictions, sanctions and tariffs become instruments of economic policy and they are sometimes even weaponised. The top government functionary also said that wars disrupt energy and food markets while shipping routes and geographical choke points become sources of economic vulnerability. Addressing the Kautilya Economic Conclave on the subject 'A World Priced for Risk', he said India is a major energy importer, and any prolonged disruption to an important maritime route can affect the economy adversely. India's response, therefore, has combined several layers of protection. "For energy security, the disruption around the Strait of Hormuz has been a particularly clear reminder of how geography can translate into economic risk," he said. Without mentioning any country, the top official said export restrictions, sanctions and tariffs become instruments of economic policy, sometimes they are even ...

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INDIA MARKET | Sat, 3 Oct 2026, 1:16PM IST Mysuru Dasara celebrations will start on Oct. 11.

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INDIA MARKET | Sat, 3 Oct 2026, 1:12PM IST The 24-year-old reached 400 T20 sixes in just 3,513 balls and also equalled Yuvraj Singhs record for most sixes in an India-Pakistan clash.

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INDIA BUSINESS | Sat, 3 Oct 2026, 1:00PM IST Consider our checklists on how to navigate the long-term financial commitment

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INDIA NEWS | Sat, 3 Oct 2026, 12:56PM IST Washington DC: US President Donald Trump dismissed the prospect of implementing a restriction on US diesel shipments following commitments from European nations to expand fuel availability within the market, asserting that the supplementary volume would assist in lowering energy costs.Speaking to journalists at the White House prior to his departure on Marine One, Trump noted that he had personally appealed to Europe to increase diesel provisions."Europe has a lot of diesel, and they're, they're gonna be making a major world contribution, and so are we," Trump said."And we're not gonna be, uh, doing the export ban. We're gonna be doing what we're supposed to do," he added.Connecting the anticipated rise in supply to the ongoing situation involving Iran, the President expressed confidence that petroleum costs would decline once the conflict concluded."We're gonna have a lot of oil very shortly, as soon as Iran ends, which won't be long," Trump said."Not gonna be long, and you're gonna have oil go down to the price it was before, maybe even lower than I got it at the beginning."When questioned subsequently regarding whether a ban on diesel outbound shipments was permanently averted as a result of the European action, Trump clarified that his administration had never planned such a measure."No, we were never gonna do it. I don't think we ever, but basically, Europe was great because they're putting a lot of diesel oil out there. They have diesel," he said.The President explained that European territories were positioned to assist due to their elevated consumption and reserves of the fuel commodity."They use diesel disproportionately more than most, and they did a great thing," he said.Characterising the partnership between Washington and European allies as robust, Trump framed the development as a direct outcome of his appeal for augmented market supplies."Oh, we have a very good relationship with Europe, and, uh, they wanted to do it because they have a lot of diesel," Trump said."I said, 'It would be great if you put it out in the market.'"These announcements unfolded against a backdrop where energy availability and pricing have grown intricately linked to geopolitical tensions in the Middle East and ongoing constraints across international petroleum and refined product sectors.On Friday, the Group of Seven nations concurred on a synchronised release facilitated through the International Energy Agency, totalling 100 million barrels of crude and fuel commodities spanning a four-month duration.The G7 stated that the initiative would commence immediately, featuring a substantial volume of diesel distributed during the opening 20 days.According to the International Energy Agency, strains on diesel inventories remained notably acute.The organisation observed that while Middle Eastern crude shipments had rebounded substantially, transit channels for refined goods continued to face limitations.Furthermore, the agency noted that approximately 325 million barrels from a prior 400-million-barrel joint undertaking initiated in March had already been deployed, easing deficits and instilling confidence across worldwide markets.

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INDIA MARKET | Sat, 3 Oct 2026, 12:42PM IST Fadnavis described Dharavi as far more than a slum, calling it 'a major economic engine'.

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INDIA NEWS | Sat, 3 Oct 2026, 12:41PM IST G20 trade ministers have discussed preventing large production capacities, created with government support in some geographies, from hurting manufacturing in countries that follow fair trade practices, including India, the US and Europe, Commerce and Industry Minister Piyush Goyal has said. Replying to questions from the Indian diaspora in Chicago about the G20 trade ministers meeting, which concluded late evening on Friday in Milwaukee, Goyal said the members also discussed the future of several elements of the World Trade Organisation (WTO), which is currently under severe stress, including the fact that many countries are using predatory pricing as they have overcapacity, and are dumping goods, much to the detriment of honest and fair trade. Replying to questions from the Indian diaspora in Chicago about the G20 trade ministers meeting, which concluded late evening on Friday in Milwaukee, Goyal said the members also discussed the future of several elements of the World Trade ...

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INDIA NEWS | Sat, 3 Oct 2026, 12:33PM IST New Delhi: The Reserve Bank of India (RBI) has granted Indiabulls Limited a Certificate of Registration as a Core Investment Company (CIC), bringing the company under the central bank's regulatory framework applicable to such investment-holding entities.Indiabulls, formerly known as Yaari Digital Integrated Services Limited, disclosed the approval in a regulatory filing dated October 2."The Reserve Bank of India has granted a certificate of Registration to the Company as a Core Investment Company as per the applicable provisions of the Reserve Bank of India Act," the company said in the filing.A Core Investment Company is a type of non-banking financial company that primarily holds investments in, and provides funding to, companies within its own group rather than carrying out conventional lending or other financial businesses.Under RBI norms, a CIC generally keeps at least 90 percent of its net assets in investments or loans to group companies, with at least 60 per cent of net assets comprising equity investments in group companies.The registration is therefore essentially a regulatory classification of Indiabulls based on the nature of its investment-holding business, rather than an approval to begin a new consumer-facing banking or lending operation.The filing, however, contains an important qualification. Indiabulls said the certificate could subsequently be surrendered if the CIC framework is found not to apply to the company."However, the said Certificate will be surrendered, in the event of its non-applicability, which is being evaluated by the Company," it said.The company did not disclose any immediate financial impact from the RBI registration. In its regulatory disclosure, it stated that it had been registered as a Core Investment Company, while marking the period of validity as "not applicable".

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INDIA BUSINESS | Sat, 3 Oct 2026, 12:33PM IST Indiabulls Limited has received a Certificate of Registration as a Core Investment Company from the RBI. This approval adheres to the regulatory guidelines designated for investment-holding organizations. A Core Investment Company primarily manages investments and finances companies within its group. Indiabulls indicated it might relinquish the certificate if deemed unsuitable under the CIC structure, clarifying that this registration does not introduce any new banking or lending activities.

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INDIA MARKET | Sat, 3 Oct 2026, 12:31PM IST Before its release, Tom Cruises 'Digger' collected Rs 1.12 crore through advance bookings in India for its first six days. The total stood at Rs 51.08 lakh after removing blocked seats.

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INDIA BUSINESS | Sat, 3 Oct 2026, 12:25PM IST Nayara Energy has raised petrol prices by Rs 5 a litre and diesel by Rs 3 across its more than 7,000 fuel stations as higher crude and refined-product prices squeeze margins. The move could widen the price gap with state-run retailers, which have largely kept pump prices unchanged despite rising international costs.

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INDIA MARKET | Sat, 3 Oct 2026, 12:21PM IST The fuel retailer, which operates 7,108 petrol pumps across India, has raised prices with immediate effect as higher international crude oil and refined-product costs put pressure on fuel margins

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INDIA BUSINESS | Sat, 3 Oct 2026, 12:19PM IST Sanjay Malhotra highlighted the need for vigilance regarding financial vulnerabilities at the Kautilya Economic Conclave. He emphasized that banking and financial stress can develop suddenly yet take years to resolve. Malhotra pointed out the interplay of geopolitical and economic factors complicating current financial stability predictions. He stressed the Reserve Bank of India's role in maintaining financial resilience through appropriate regulations and supervision.

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INDIA NEWS | Sat, 3 Oct 2026, 12:12PM IST Bengaluru: Karnataka Deputy Chief Minister G Parameshwara on Saturday said drought-related losses in the state could reach between Rs 50,000 crore and Rs 60,000 crore.Ahead of the assessment of drought-hit areas by 3 Central teams, Parameshwara said 217 taluks had been declared drought-hit."Loss assessments have been completed for 177 of these taluks, and the second memorandum submitted to the Centre has reported losses of approximately Rs 46,000 crore," Parameshwara, who also holds the Revenue portfolio, told reporters."The assessment process for the remaining 40 taluks, declared drought-hit on October 1, is also underway. Once the losses across all these taluks are consolidated, the total estimated loss could range between Rs 50,000 crore and Rs 60,000 crore," he said.Read more: Karnataka announces Rs 2,500 input subsidy for drought-hit farmers: Dy CM ParameshwaraThe state will seek the relief due to it under the Central government's guidelines, he said.Responding to a question about the 22 taluks that have not yet been declared drought-hit, Parameshwara said ground-truthing would also be conducted there."The assessment may reveal that one, 2 or 3 of these taluks are drought-hit. Some taluks in the coastal region do not appear to be facing such conditions. Appropriate action will be taken based on the actual situation established after the assessment," he said.Read more: Karnataka Cabinet decides to reintroduce students' elections in universities, collegesParameshwara said the recent rainfall would not affect the assessment for drought relief."While the rain may provide some relief in terms of drinking water availability, it is unlikely to significantly benefit crops," he said.The conditions prevailing during May, June, July, August and September would be explained to the Central teams, and the memorandum already records the situation during these months, he said."The drought situation will not be determined solely on the basis of recent rainfall," Parameshwara said.According to him, 3 teams comprising Joint Secretaries and officials from various Central government ministries, including the Ministries of Agriculture and Environment, are arriving in the state.The teams will visit 3 regions of Karnataka to assess the rainfall and crop-loss situation on the ground. They will begin their inspections following a briefing, while separate teams have already started inspections in some areas, he said."Two memorandums seeking drought relief have already been submitted to the Centre. The second memorandum details estimated losses of approximately Rs 46,000 crore across 177 taluks. Once the Central teams complete their inspections and the assessment of losses in the remaining taluks is concluded, a third and final memorandum covering all 217 drought-hit taluks will be submitted," he said.

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INDIA MARKET | Sat, 3 Oct 2026, 12:12PM IST An FAA official said Boeing will issue a bulletin to airlines about responding to situations where the malfunction occurs.

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INDIA MARKET | Sat, 3 Oct 2026, 12:09PM IST 5 Indian nationals rescued after Kuwait-flagged tanker struck by projectile in Strait of Hormuz

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INDIA MARKET | Sat, 3 Oct 2026, 12:07PM IST India skipper Shubman Gill after scoring double century in the second ODI

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INDIA NEWS | Sat, 3 Oct 2026, 12:07PM IST C P Radhakrishnan said consensus-building may slow decisions at times but makes reforms sustainable, while warning that growth benefits must reach every section of society

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INDIA MARKET | Sat, 3 Oct 2026, 12:04PM IST Apple Enhances Mac Privacy Controls Amid AI Access Concerns

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INDIA MARKET | Sat, 3 Oct 2026, 12:00PM IST Among these, we highlight 9 large-cap stocks that have surged over 50% in the first half of FY27 so far, significantly outperforming the benchmark. (Data Source: ACE Equity)

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INDIA MUTUAL FUNDS | Sat, 3 Oct 2026, 11:55AM IST The fund house noted that the geopolitical crisis in the Middle East had entered its eighth month and resulted in severe disruptions to global commodity supplies, with Brent crude rising above $100 a barrel.

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INDIA MARKET | Sat, 3 Oct 2026, 11:54AM IST At SCI's 65th anniversary, Shipping Minister Sarbananda Sonowal said the company would play a key role in India's shipbuilding ambitions, with its profit after tax expected to cross 2,000 cr in FY27

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