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INDIA BUSINESS | Fri, 17 Apr 2026, 2:01AM IST HDFC Bank's financial health and leadership remain robust even after the resignation of its part-time chairman. Investors can be assured of the bank's financial strength and earning capacity. The bank's balance sheet is low risk and its dividend policy is clear. The board structure aligns with global standards for large banks.

Continue reading at Economic Times

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GLOBAL NEWS | Fri, 17 Apr 2026, 2:00AM IST The Washington publication is rebranding as it expands its local news and sports coverage in the wake of substantial layoffs at The Washington Post.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:59AM IST Sushanta Kumar Mohanty has taken charge as executive director at Bank of Maharashtra. His appointment is for a three-year term. Mohanty previously served as chief general manager at Bank of Baroda. He brings over three decades of banking experience to his new role. This significant development marks a new chapter for the bank.

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GLOBAL NEWS | Fri, 17 Apr 2026, 1:50AM IST Tehrans digital warriors have continued to seek ways to gain an advantage in the conflict in a new phase of cyberspace operations.

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GLOBAL NEWS | Fri, 17 Apr 2026, 1:48AM IST Concerned about the slow pace and high cost of weapons production, Pentagon officials have begun talks with General Motors and Ford Motor about producing certain parts.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:47AM IST Construction costs are rising across India. Malls have seen the biggest jump in expenses. Luxury and mid-market housing also experienced significant cost increases. Affordable housing and commercial office spaces saw moderate rises. Warehousing and manufacturing costs grew the least. Developers are focusing on efficiency and planning. India's construction market is set for substantial growth.

Continue reading at Economic Times

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:42AM IST Indian banks are now requiring corporates to provide documentation for dollar forward transactions. This move follows recent currency volatility and new regulations. Banks are scrutinizing clients and setting limits based on past performance. The Reserve Bank of India has not mandated this, but banks are taking extra precautions to avoid FEMA violations amid a dollar crunch.

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INDIA NEWS | Fri, 17 Apr 2026, 1:42AM IST Mumbai: After the recent currency turbulence and rapid-fire regulations to tame the rupee, bankers are telling corporates, 'show me the paper'.Since a fortnight, most banks are demanding proper documents, as evidence of actual import and export orders, from companies buying and selling dollars in the forward market-a practice that was prevalent before 2020. Over and above this, banks are carefully picking clients, checking their track record, and setting limits based on past performance-as was done a decade ago-to decide the amount of dollars a company can book forward to hedge 'anticipated exposure', senior bankers told ET. 130317589 While the Reserve Bank of India (RBI) has not directed banks to collect underlying documents before cutting foreign exchange forward deals, banks are being super-cautious. They are guarding themselves from possible troubles arising out of FEMA violations by dodgy clients amid a dollar crunch. THE RULESUnder the current rules, banks have certain leeway in booking forward contracts with customers who choose to buy or sell foreign currency, typically dollars, against the rupee at the forward rate, which is usually at a premium over the daily spot exchange rate, on a future date. First, a bank is not required to insist on underlying documents from a company for forward transactions upto $100 million.This, however, does not permit the client with no underlying to take a forward position to speculate on the USD-INR rate. The rule is simple: while banks don't ask for the papers, they can at any point, and when it does, the company must be in a position to come up with the documents.Such a forward deal by, say an exporter or importer, against an actual underlying (export or import order)-irrespective of whether the papers supporting the trade are submitted to the bank-constitutes a company's 'current exposure'. In making things easier for banks and businesses, RBI had progressively raised the limit from $1 million to $100 million between 2016 and 2020.Second, beyond the $100million limit, a corporate can enter into a forward contract for any amount of 'anticipated exposure' which is not backed by any underlier. Say, expecting the dollar to fall, a foreign venture capital fund (FVCF) which invested in an Indian startup, sold dollars forward to a bank here. If the FVCF cancelled the contract, the bank would not pass on the profit from the cancellation to the fund till the actual investment fructified. The regulation aimed to discourage currency speculation through cancellation and rebooking of forwards against anticipated exposure.After the rupee faced speculative attack, RBI recently disallowed cancellation and rebooking of all forwards and derivative contracts linked to all exposures. NOT A FOOL-PROOF METHOD"Banks are taking precautions as forward market rules can be misused. For instance, an exporter can book forwards with multiple banks. Even when banks ask for an underlier, it can give copies of the same invoice to all the banks. When the money from exports is received, it sells dollars to one bank and cancels the contracts with the other banks to book profits. So, demanding a document is not a fool-proof method. But banks are doing this to protect themselves," said an industry official.Banks are even more circumspect with clients having anticipated exposure. Clients give only a letter or email to book forwards on such exposures without any agreement or invoice. Here, banks are fixing limits based on the client's past performance for three years. A bank would turn down a company which wants to book a $300 million forward when its average annual export or import is below $200 million. Also, banks are avoiding clients who lack credibility.CONFUSION OVER CANCEL & REBOOKHowever, banks are unclear how to handle companies which had booked a forward earlier without presenting a back-up document, cancels it now, and wants to sign a fresh forward contract with underlying papers."It's entirely possible that the forward which is being cancelled was against the same order document that is now being used to book the new forward. Under the current rules, a company can't cancel and rebook forward. If the company claims that the earlier forward was against a separate order and the new forward is against a new order, there's no way banks can verify. We would not know as the client had not given a document while booking the earlier forward," said a banker.

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GLOBAL NEWS | Fri, 17 Apr 2026, 1:39AM IST The co-founder of the streaming giant will leave its board in June, the company said.

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INDIA MARKET | Fri, 17 Apr 2026, 1:35AM IST US stocks closed at fresh record highs for a second straight session, with the S&P 500 and Nasdaq gaining modestly as investors reacted to easing Middle East tensions after a temporary Israel-Lebanon ceasefire and hopes of US-Iran talks. Sentiment was supported by steady labor data, though trading remained choppy.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:33AM IST Institutional investors focused on office properties in India during the first quarter of 2026. Private equity inflows increased significantly, with office assets attracting the majority of the capital. Investors preferred leased and near-stabilized properties for predictable cash flows. Residential investments also saw activity, primarily through debt structures.

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GLOBAL NEWS | Fri, 17 Apr 2026, 1:32AM IST The donations, from the philanthropist Connie Ballmer and an anonymous donor, will support the networks long-term strategy.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:30AM IST Indian carmakers have agreed to new fuel efficiency rules, CAFE 2027. These norms will limit CO2 emissions for passenger cars starting April 1, 2027. The industry body SIAM finds the guidelines balanced. Automakers will improve fleet emissions annually until 2031-32. The government will issue the final notification soon. There is broad industry consensus on the draft.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:11AM IST Alisha Moopen is driving Aster DM Healthcare's major expansion across India. The company plans to add over 3,300 beds, aiming to become the nation's largest healthcare chain. Aster DM Healthcare currently operates around 40 hospitals nationwide. Moopen emphasizes building trust in a technology-driven world. Family-led organizations like Aster DM Healthcare invest with patience for long-term growth.

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INDIA NEWS | Fri, 17 Apr 2026, 1:08AM IST New Delhi: Central government employees have sought a sweeping overhaul of pay, pensions and service conditions under the Eighth Central Pay Commission, proposing a minimum basic salary of Rs 69,000, a fitment factor of 3.83, and a return to the practice of merging dearness allowance (DA) with basic pay at 25%.In its memorandum, submitted to the Eighth pay commission on April 14, the staff-side of the National Council-Joint Consultative Machinery (NC-JCM) has laid out an expansive blueprint that goes beyond salary revision to include cadre restructuring, higher annual increments and pension parity.It also asked to include new family-friendly provisions such as five member family unit and a detailed provision for surrogacy and adoption apart from paternity leave.130317371 The proposals, if accepted in full, could mark one of the sharpest pay resets in recent decades for 5 million government employees and 6.5 million pensioners, including defence personnel. However, this may also come with a significant fiscal burden.However, the memorandum argues that the existing wage framework no longer reflects current consumption patterns and inflation-adjusted living costs, and therefore requires a comprehensive reset rather than incremental revision.The Seventh Pay Commission introduced a fitment factor of 2.57 that raised the minimum basic pay from 7,000 to 17,990 while increasing the revenue expenditure of the centre to 9.9% in fiscal year 2016-17 from 4.8% in 2015-16It also recommends increasing the annual increment rate from 3% to 6%.The memorandum also argues that increased expenditure should not be considered as a fiscal burden but as "investment" as the increased salary will have a multiplier impact on overall consumption and will boost the economy.Beyond the headline salary demand, the staff body has pushed for a rationalisation of the pay matrix, proposing the merger of multiple overlapping pay levels across the hierarchy.The objective, according to the memorandum, is to reduce stagnation in promotions and simplify the layered structure that currently governs career progression in central government services.The proposed restructuring is aimed at addressing long-standing grievances around slow upward mobility, particularly for employees in lower and mid-level cadres who often face extended periods without meaningful financial progression.The memorandum says the government should focus on family-friendly workforce policies, calling for enhanced and standardised paternity leave policies, recognising the role of fathers in early childcare responsibilities.In a significant update reflecting evolving family structures which advocates for five-member family units including ageing parents , the memorandum also proposes that child-care related benefits be explicitly extended to employees opting for surrogacy and adoption.This includes ensuring parity in leave entitlements for parents who become guardians through non-traditional routes of parenthood.The NC-JCM has demanded that revised pay structures be extended to pensioners, including those who retired before the implementation of the new pay matrix and linking pension revisions to the new fitment framework.The Eighth Central Pay Commission initiated consultations with various stakeholders and will independently evaluate the proposals based on fiscal space, macroeconomic conditions, and sustainability of government expenditure.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:06AM IST Aman Mehta is guiding Torrent Pharmaceuticals through a significant period of growth and strategic change. He is driving the company's expansion through acquisitions, notably the purchase of JB Chemicals. This move positions Torrent Pharma for a potential entry into India's top five pharmaceutical companies. Mehta's leadership also emphasizes organic growth, strategic in-licensing, and a strong focus on research and development.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:05AM IST State-run BPCL announced that the SEAP-I project in Brazil, operated by Petrobras, has received Final Investment Decision. BPCL, through its subsidiary IBV, holds a 40% stake and will invest approximately $2.8 billion. The project, utilizing the FPSO vessel P-81, aims to enhance India's energy security by diversifying oil supply sources.

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INDIA BUSINESS | Fri, 17 Apr 2026, 1:01AM IST Max Healthcare has significantly increased its bed capacity to 6,500 with a new Saket facility. This expansion targets both domestic patients seeking quality care and international medical tourists. The company leverages brownfield economics to manage costs effectively. Max Healthcare aims to contribute to India's growing healthcare infrastructure, addressing a substantial gap in private tertiary care beds.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:59AM IST Ravi Jaipuria's Varun Beverages Ltd has become a global powerhouse. Starting with one PepsiCo plant in 1987, VBL is now the second-largest bottling business for PepsiCo worldwide outside the US. Its market value has surged significantly. The company holds extensive franchisee rights across India and several international markets. This growth reflects a vision for expansion and strong execution.

Continue reading at Economic Times

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:58AM IST Allcargo Group is transforming logistics with digital innovation. The company uses IoT and AI to improve efficiency and customer service. Its online platform, ECU360, offers seamless global access. Allcargo's digital strategy is driving growth and competitiveness. This approach is making the company a future-ready leader in the logistics sector.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:58AM IST Allcargo Group is transforming logistics with digital innovation. The company uses IoT and AI to improve efficiency and customer service. Its online platform, ECU360, offers seamless global access. Allcargo's digital strategy is driving growth and competitiveness. This approach is making the company a future-ready leader in the logistics sector.

Continue reading at Economic Times

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:58AM IST India's pharma exports saw a sharp 23.17% fall in March. The West Asia war disrupted shipping routes and air transit hubs. This led to increased freight costs and potential losses of 2,500-5,000 crore. Despite strong growth earlier in FY26, the conflict impacted crucial transit points like Dubai and Abu Dhabi. This affected the flow of vital medicines to global markets.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:55AM IST The ongoing conflict in West Asia is casting a long shadow over India's tourism and aviation sectors. Tourist arrivals have plummeted, prompting airlines to alter their routes, which in turn raises both fares and journey durations. The hospitality industry is feeling the strain as well, with many restaurants shutting down and significant losses reported.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:54AM IST Global demand for weight-loss drugs Ozempic and Wegovy has caused semaglutide prices to drop significantly. Manufacturing has expanded rapidly, and patents are expiring in key markets. Indian drugmakers are launching generics at lower prices. Experts predict further price softening in the coming months, benefiting consumers with wider access to these therapies.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:52AM IST Cyrus S Poonawalla, chairman of Serum Institute of India, has created a legacy where business and social impact go hand in hand. His vaccines have saved over 30 million lives worldwide. The institute's founding values of affordability, quality, and access continue to guide its global efforts. The Villoo Poonawalla Foundation also drives philanthropy in healthcare, education, and community development.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:49AM IST Tata Sons chief N Chandrasekaran and Singapore Airlines leader Goh Choon Phong joined forces to tackle Air India's pressing funding crisis. With the airline grappling with hefty losses and the shaky terrain of global politics, both leaders also explored the pivotal task of finding a new CEO.

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INDIA NEWS | Fri, 17 Apr 2026, 12:44AM IST Mumbai: For years, India's EV market catered to the commuter. Now a new battleground is emerging, with automakers increasingly sharpening their focus on the small but fast-growing market for seven-seater EVs, largely aimed at large families.Vietnamese automaker VinFast this week joined others such as Mahindra & Mahindra, BYD, JSW MG, and Kia in this segment as it introduced the VF MPV7 model - the company's third product rollout in less than nine months."What we found is that the offering for a large family where seven adults can comfortably ride, within the city and outside the city, where the comfort and range is very good - it was missing on the Indian roads," Tapan Kumar Ghosh, CEO of VinFast India, told ET. 130317061 According to S&P Global Mobility, the segment sold fewer than 10,000 units in 2025 but is expected to cross 50,000 units this year - a more than fivefold surge, making it one of the fastest-growing in the domestic automobile market. With more models likely to join the competition, overall volumes are expected to grow at a fast clip.Manufacturers are targeting a diverse price band-starting from 17 lakh to 75 lakh depending on the range and other features. Most claim to have a long driving range-exceeding 400 kms up to 679 kms. However, the real world range is typically 20-30% lower than the certified claims."The 7-seater electric SUVs are emerging as the fastest growing one in the EV landscape," said Puneet Gupta, director, S&P Global Mobility. "It offers compelling value economics due to the favourable low-GST regime. A wave of product offensives from both mass-market and luxury carmakers is set to significantly widen consumer choice accelerating adoption."Crucially, this category strikes a rare balance and delivers premium comfort, enhanced safety, and generous space, making it an ideal proposition for families aspiring for an elevated mobility experience, he said.The broader EV market is also providing a strong tailwind. Monthly passenger EV registrations crossed 22,000 units this March, up from 5,000-6,000 two years ago, with total industry penetration reaching 5% - a twofold surge in just two years.Still, challenges persist. Intercity fast-charging infrastructure remains patchy, and most of these large EVs sit at price points that keep them out of reach for most middle-class families. For now, the segment's sweet spot is the affluent urban household - large, mobile, and increasingly electric.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:44AM IST The electric vehicle revolution in India is not just about getting from point A to B; its now about enhancing family journeys. With the emergence of seven-seater electric vehicles, automakers are capitalizing on this fast-growing segment. Designed for comfort, versatility, and efficiency, these models are attracting the attention of affluent city dwellers eager to embrace modern, eco-friendly transportation.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:43AM IST Iran supplied about 4 million barrels in April, or 7% of total imports, resuming shipments to India after seven years. However, a US naval blockade of Iranian ports, currently underway, could constrain further supplies this month.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:36AM IST Motorola Mobility has filed a defamation suit in India against social media platforms and tech creators. The company seeks to remove content falsely alleging its phones catch fire. A court has ordered the takedown of over 360 posts and videos. This marks the first time a handset brand has taken creators to court over product reviews in India.

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INDIA MARKET | Fri, 17 Apr 2026, 12:15AM IST File image of US President Donald Trump

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:13AM IST India's industrial and warehousing sector saw its strongest quarterly growth in early 2026. E-commerce and 3PL players drove this surge, leasing significant space. Quick commerce is reshaping demand, accelerating the need for smaller warehouses. Despite geopolitical concerns, strong fundamentals and policy support are expected to sustain market growth.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:12AM IST Suzlon Energy has shown remarkable resilience, turning its operations around. The company is now a key player in India's wind energy sector. It is expanding into solar, battery storage, and new technologies. Suzlon is also upgrading its manufacturing with AI-enabled factories. This transformation positions Suzlon as a comprehensive renewable energy solutions provider for the future.

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INDIA BUSINESS | Fri, 17 Apr 2026, 12:07AM IST Mankind Pharma, guided by Ramesh and Rajeev Juneja, is a leading Indian pharmaceutical firm. The company focuses on mass-market drugs and has expanded into chronic and specialty treatments. With over 75% of manufacturing in-house, Mankind Pharma emphasizes quality, affordability, and accessibility. They are investing in innovation and digital capabilities to meet growing healthcare needs.

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INDIA NEWS | Fri, 17 Apr 2026, 12:02AM IST Iran has agreed not to have nuclear weapons for more than 20 years, US President Donald Trump said on Thursday, while hinting at a possible visit to the Pakistani capital, Islamabad. If an Iran deal is reached and signed in Islamabad, he might go, the President said, adding that Iran has agreed to almost everything."We have a statement, a very powerful statement, that they will not have, beyond 20 years, that they will not have nuclear weapons," he told reporters outside the White House.Also read: US ready to resume strikes if Iran rejects peace deal, warns HegsethTrump said that the next meeting between the United States and Iran may take place over the weekend, adding that he is not sure the ceasefire needs to be extended. "I'm not sure it needs to be extended," Trump told reporters at the White House. "Iran wants to make a deal and we're dealing very nicely with them."On the storage of enriched uranium, he said that Tehran has agreed to hand over its store of enriched uranium and that the two sides were "close" to a peace deal ending six weeks of conflict.Also read: Trump says Israel, Lebanon agreed to 10-day ceasefire"They've agreed to give us back the nuclear dust," he told reporters, using his name for the enriched uranium stockpile that the United States says could be used to build nuclear weapons. "There's a very good chance we're going to make a deal."

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INDIA MARKET | Thu, 16 Apr 2026, 11:49PM IST US stocks have rebounded to record highs after the Iran war-driven selloff, with momentum indicators suggesting further upside. Hedge fund buying, bullish options positioning, and volatility-linked inflows are supporting the rally. Historical data shows the S&P 500 often extends gains after recovering from 510% pullbacks, reinforcing bullish sentiment.

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INDIA NEWS | Thu, 16 Apr 2026, 11:37PM IST The state-run refiners have been asked to access the credit line via the State Bank of India, the sources said. SBI is India's largest bank and is state-backed

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INDIA MARKET | Thu, 16 Apr 2026, 11:36PM IST Shreyas Iyer pulled off a gravity-defying relay catch at the boundary to dismiss Hardik Pandya, turning the tide in Punjab Kings' favour.

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