Jerome Powell To Exit As Fed Chair But Retain Board Seat 'Will Leave When Appropriate'
INDIA MARKET | Thu, 30 Apr 2026, 12:55AM IST
File image of US Federal Reserve Chair Jerome Powell
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Indias credit card market expands to 119 million, PSU banks gain in spends
INDIA BUSINESS | Thu, 30 Apr 2026, 12:53AM IST
India's credit card market has surpassed 119 million cards. HDFC Bank, SBI Cards, ICICI Bank, and Axis Bank dominate this sector. HDFC Bank is expanding its lead in both card numbers and spending value. Public sector banks are showing strong growth, especially in tier-2 and tier-3 markets. This expansion is driven by wider networks and partnerships.
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Banks allowed to offer natural calamity relief suo motu from July 1
INDIA BUSINESS | Thu, 30 Apr 2026, 12:52AM IST
The Reserve Bank of India is enabling banks to provide immediate relief to borrowers impacted by natural disasters. Banks can now offer rescheduling, moratoriums, and additional finance without waiting for borrower requests. The implementation of a new resolution framework has been postponed to July 1. This move aims to support those facing financial stress due to weather-related disruptions.
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Powell Says He Will Stay On as Fed Governor After Term as Chair Ends
GLOBAL NEWS | Thu, 30 Apr 2026, 12:50AM IST
Jerome H. Powell cited lingering legal threats against him and the Federal Reserve in explaining his decision to remain at the central bank.
Continue reading at The New York Times
11m
US Fed Meeting Live: Inflation Is 'Misbehaving', Says Powell; FOMC Holds Interest Rate
INDIA MARKET | Thu, 30 Apr 2026, 12:43AM IST
US Fed FOMC Meeting April: Markets anticipate no immediate rate cuts as policymakers weigh elevated energy prices and global uncertainties.
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Banks asked to expand digital infra for last-mile reach
INDIA BUSINESS | Thu, 30 Apr 2026, 12:42AM IST
Financial services secretary M Nagaraju on Wednesday reviewed the progress of financial inclusion schemes with public sector banks (PSBs) and major private banks.
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U.S. Fed holds rates steady even as four officials dissent
INDIA BUSINESS | Thu, 30 Apr 2026, 12:37AM IST
Three officials dissented in favour of removing the reference to a future cut, while a fourth, Stephen Miran, dissented in favour of an immediate rate cut
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25m
Centre proposes rules to recognise higher ethanol fuels
INDIA BUSINESS | Thu, 30 Apr 2026, 12:37AM IST
India's road transport ministry is set to update vehicle emission rules. Higher ethanol fuels like E85 and E100, along with B100 biodiesel, will now be part of the country's emission testing and certification. This move aims to formalize the inclusion of these advanced fuels. The proposed changes are under Rule 115 of the Central Motor Vehicles Rules, 1989.
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Jerome Powell underlines importance of Fed independence as he welcomes successor Kevin Warsh
INDIA MARKET | Thu, 30 Apr 2026, 12:36AM IST
Federal Reserve Chair Jerome Powell emphasized the critical need for the Fed to operate free from political influence to effectively serve the American people. He congratulated his likely successor, Kevin Warsh, on advancing through the Senate Banking Committee.
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Govt caps spend for pending schemes
INDIA NEWS | Thu, 30 Apr 2026, 12:33AM IST
New Delhi: The finance ministry has capped front-loading of expenditure under central sector schemes and sponsored schemes (CSS) that have the appraisal and approval pending for continuation under the 16th Finance Commission cycle.Allocation to these will be restricted to the first two quarters in this financial year, said officials.The move was initiated after many ministries were not able to complete the mandatory appraisal of schemes by the March 31 deadline.Also Read: RBI launches 3 key surveys for monetary policy inputThe Centre has allowed such schemes to continue on an interim basis till September 30, or until fresh approval is obtained as part of an interim funding arrangement.130617011In an official communication sent last month, the Department of Expenditure (DoE), under the finance ministry, asked ministries to complete the appraisal process before September.The department will relook at the scheme-wise allocations in September based on continuation, restructuring or consolidation of schemes across ministries. Any provision for new, phased out, merged or restructured schemes will be adjusted within existing budgetary limits of each ministries, officials said.The review exercise will have no impact on the overall allocation to the ministries. "There will be no change in the overall budget for ministries, and they will have to manage these adjustments within their allocations, ensuring no fiscal impact for 2026-27," a senior official told ET on condition of anonymity.The temporary extension and expenditure cap is applicable only where appraisal is pending, and will remain valid till September 30 or until formal approval is granted-whichever is earlier. Such schemes with temporary extension will continue with the same scope, structure, coverage, cost norms and conditions as applicable during the 15th Finance Commission period, without any expansion in design or entitlements.Also Read: India invokes WTO peace clause for FY25 rice subsidies for farmersThe delay in the process has been attributed to a more intensive rationalisation exercise aimed at merging overlapping schemes, introducing sunset clauses and strengthening outcome-based monitoring.The Centre has budgeted 5.48 lakh crore for central sector schemes, accounting for about 45% of planned capital expenditure.The appraisal and rationalisation of CSS is undertaken every five years ahead of the start of each finance year cycle.The reassessment and appraisal of schemes is aimed at streamlining the number of schemes, phase out initiatives that have achieved their objectives and redirect funds towards priority areas.On March 5, ET reported that the DOE may allow such schemes to continue for the first few months of 2026-27.
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28m
Mitsubishi moves to exit NTPC project
INDIA BUSINESS | Thu, 30 Apr 2026, 12:32AM IST
Mitsubishi, the Japanese conglomerate, is poised to exit a power project located in West Bengal, prompting discussions with NTPC regarding the financial implications. The company has tabled an offer for penalties associated with their withdrawal from the incomplete project, while NTPC is advocating for a more substantial settlement. As dialogues continue, both parties are working towards an agreeable resolution.
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29m
Finance Secretary reviews PSU insurance strategy
INDIA BUSINESS | Thu, 30 Apr 2026, 12:28AM IST
Financial services secretary M Nagaraju reviewed strategy documents for four public sector insurance companies. He directed them to boost investment opportunities and cut loss ratios. The companies must also maintain market share. Strengthening retail portfolios and expanding presence in rural and semi-urban areas are key priorities. These steps aim to enhance their overall performance and reach.
Continue reading at Economic Times
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UCO Bank sees no MSME stress from US tariffs, Iran war
INDIA BUSINESS | Thu, 30 Apr 2026, 12:28AM IST
The public sector bank's chief executive, Ashwani Kumar, told ET that its loan portfolio performance behaviour is healthy on a year-on-year basis. The bank's special mention accounts in the MSME portfolio having exposure of 1 crore and above reduced to 1.05% of the MSME loan book in March, at 487 crore, as against 582 crore in December 2025, he said.
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34m
Big Tech Earning: Google, Meta, Microsoft, Amazon To Post Earnings Today What To Expect
INDIA MARKET | Thu, 30 Apr 2026, 12:12AM IST
Alphabet shares traded flat ahead of the earnings.
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49m
Powell Says He Will Stay on as Fed Governor After Term as Chair Ends
GLOBAL NEWS | Thu, 30 Apr 2026, 12:09AM IST
Jerome H. Powell cited lingering legal threats against him and the Federal Reserve in explaining his decision to remain at the central bank.
Continue reading at The New York Times
52m
Gold Price Plunges 1.5% As Fed Keeps Rates Steady, Cites War-Triggered Inflation
INDIA MARKET | Thu, 30 Apr 2026, 12:03AM IST
Fed has decided to hold rate steady in the 3.5%-3.75% range on elevated inflation triggered by spiking energy prices due to the Iran war.
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59m
INDIA MARKET | Thu, 30 Apr 2026, 12:02AM IST
Klaasen scored 65* off 30 balls to help SRH seal a fifth win on the bounce in IPL 2026.
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1h
Bill Ackmans I.P.O., Pershing Square USA, Raises $5 Billion
GLOBAL NEWS | Thu, 30 Apr 2026, 12:01AM IST
The initial public offering of Mr. Ackmans new fund, Pershing Square USA, raised $5 billion.
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1h
Global consumer cos stay bullish on India
INDIA NEWS | Wed, 29 Apr 2026, 11:56PM IST
Mumbai: Global consumer companies remain gung-ho on India, with Mondelez International, The Coca-Cola Company, Pernod Ricard, Reckitt Benckiser and Carlsberg Group reporting robust demand and double-digit growth in the March quarter despite lingering stress in the broader consumer goods market.The impressive growth comes after two consecutive volatile quarters for India's consumer sector, when erratic summer weather, heavy monsoon rains and disruption linked to the transition following goods and services tax cuts weighed on sales."In India, we had a strong double-digit growth in the first quarter in chocolate and in biscuits," Mondelez International chairman and CEO Dirk Van de Put said during the company's earnings call, noting the recent GST changes were "helping consumption in quite a way".130615556While GST reduction across several consumer products came into effect on September 22, it had led to trade and pricing disruptions for nearly two months. Most consumer companies had expected the full benefit of lower prices and easing inflation to reflect from the March quarter onward.Van de Put expressed "very positive confidence in India", reflecting improving sentiment among multinational consumer companies. The maker of Cadbury chocolates said its recently launched Biscoff biscuit range had already sold out in the country.Executives at The Coca-Cola Company also highlighted India as a key long-term growth market, even as the beverage giant continues to invest in expanding distribution and pricing capabilities."We are still far away from getting our overall architecture on revenue growth management and our development capabilities with our bottlers to the stage that we can actually call it a mature market," said Henrique Braun, CEO of The Coca-Cola Company, indicating significant headroom for growth in India.At Reckitt Benckiser, strong growth was visible across health and hygiene. CEO Kris Licht said India is "accelerating," with broad-based double-digit growth led by brands such as Dettol and Durex.
Continue reading at Economic Times
1h
Global consumer companies stay bullish on India
INDIA BUSINESS | Wed, 29 Apr 2026, 11:56PM IST
Global consumer firms are seeing strong demand in India. Companies like Mondelez, Coca-Cola, Pernod Ricard, Reckitt Benckiser, and Carlsberg reported double-digit growth in the March quarter. This follows a period of volatility. Recent GST changes are now helping consumption. India remains a key growth market for these international brands.
Continue reading at Economic Times
1h
US Fed keeps interest rates steady; three dissents against 'easing bias'
INDIA MARKET | Wed, 29 Apr 2026, 11:47PM IST
A fourth dissent at the meeting came in favor of a quarter-percentage-point rate cut
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1h
US Federal Reserve holds interest rates steady, signaling caution as chair Jerome Powell nears exit
INDIA MARKET | Wed, 29 Apr 2026, 11:34PM IST
The Federal Reserve held interest rates steady for the third time, citing global risks like rising energy prices and supply disruptions. Policymakers are balancing inflation concerns with the potential impact of aggressive hikes on economic growth. This pause offers near-term stability for Indian markets, though elevated crude oil prices remain a significant worry.
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1h
Fed Keeps Interest Rates On Hold As Iran War Spikes Inflation Concerns
INDIA MARKET | Wed, 29 Apr 2026, 11:32PM IST
This was the last policy decision announced by Federal Reserve Chair Jerome Powell.
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1h
US Fed Meeting Live: FOMC Holds Interest Rate At 3.50%3.75%
INDIA MARKET | Wed, 29 Apr 2026, 11:31PM IST
US Fed FOMC Meeting April: Markets anticipate no immediate rate cuts as policymakers weigh elevated energy prices and global uncertainties.
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1h
West Asia crisis drives up fuel losses for OMCs: ICRA
INDIA BUSINESS | Wed, 29 Apr 2026, 11:29PM IST
At crude prices of $120-125 per barrel, marketing margins are estimated at around negative Rs 14 per litre for petrol and Rs 18 per litre for diesel, according to the ratings agency. For every $1 per barrel increase in crude prices, fuel marketing losses rise by about 60 paise per litre, assuming no change in retail prices.
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Q4 Results Updates: Waaree Energies Net Profit Up 71%, Declares Final Dividend
INDIA MARKET | Wed, 29 Apr 2026, 11:28PM IST
Vedanta, Adani Power, Waaree Energies and Bajaj Finance among companies to report Q4 earnings today.
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1h
Epic Groups $100 million-garment manufacturing unit inaugurated in Odisha
INDIA BUSINESS | Wed, 29 Apr 2026, 11:26PM IST
Companys core focus is net-zero carbon through solar, biomass, battery storage, and energy-efficient systems, says group founder Ranjan Mahtani
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1h
India needs rapid scale-up in power capacity: Sagar Adani
INDIA BUSINESS | Wed, 29 Apr 2026, 11:22PM IST
Speaking at The Economist's Resilient Futures Summit in New Delhi, he said the ability to create large-scale infrastructure with purpose will determine how well countries withstand global disruptions.
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1h
Gold demand in Jan-Mar 2026 rose 10%, value surged 99%: WGC
INDIA BUSINESS | Wed, 29 Apr 2026, 11:19PM IST
Total gold imports surged 39% to 196.4 tonnes from 141.2 tonnes a year ago
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1h
Oil firms selling petrol at 14 a litre loss, diesel at 18
INDIA BUSINESS | Wed, 29 Apr 2026, 11:10PM IST
Besides losses on petrol and diesel, the elevated energy prices post West Asia crisis are likely to leave companies with an under recovery of 80,000 crore on cooking gas LPG in the current fiscal
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1h
Exports see healthy rise in April despite West Asia challenges: Goyal
INDIA NEWS | Wed, 29 Apr 2026, 11:04PM IST
The country's exports have shown a healthy increase during the first three weeks of April so far despite challenges due to the ongoing West Asia crisis, Commerce and Industry Minister Piyush Goyal said on Wednesday.
He added that the consignments to West Asia are going through different routes because the Strait of Hormuz is "still a challenge".
Goyal also said that free trade agreements finalised by India would give a huge boost to the domestic industry.
"There is an increase in exports during the first three weeks of April as compared to the same period of last April... Despite the war in West Asia, there is tremendous enthusiasm among domestic exporters," Goyal told reporters here.
The trade data for April will be released by the commerce ministry on May 15.
Exports posted the steepest fall in five months, declining by 7.44 per cent in March to USD 38.92 billion due to trade uncertainty and geopolitical tensions, with shipments to West Asia contracting by more than 50 per cent
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1h
Nationwide trial of mobile-based disaster alert systems going on; citizens ignore test message: DoT
INDIA BUSINESS | Wed, 29 Apr 2026, 11:02PM IST
India is currently testing a new mobile-based disaster alert system. Citizens may receive test messages on their phones. These alerts are part of a nationwide trial by the Department of Telecommunications and the National Disaster Management Authority. The system uses Cell Broadcast technology for rapid dissemination of critical information.
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2h
Taiwan's equity market overtakes Canada's to become world's sixth largest
INDIA MARKET | Wed, 29 Apr 2026, 10:59PM IST
Taiwan surpasses Canada as the sixth-largest equity market, powered by AI-driven chip stocks and the meteoric rise of TSMC
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2h
Government proposes E100 fuel approval
INDIA BUSINESS | Wed, 29 Apr 2026, 10:59PM IST
Move paves way for certification and mass production of ethanol-only vehicles
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2h
INDIA MARKET | Wed, 29 Apr 2026, 10:54PM IST
According to the complainant's counsel, advocate Vaibhav Jain, the high-end SUV failed to deliver on its core promises.
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2h
Gold slips as oil prices fuel inflation fears ahead of Fed chair remarks
INDIA MARKET | Wed, 29 Apr 2026, 10:49PM IST
Gold slips as rising oil prices stoke inflation fears and rate outlook uncertainty, with markets eyeing Fed Chair Jerome Powell's cues on policy path
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2h
Dhan rolls out 'Gold Vault' with MCX-linked pricing; MMT eyes India listing
INDIA MARKET | Wed, 29 Apr 2026, 10:48PM IST
From Dhan's Gold Vault launch to MakeMyTrip's India listing plans, markets see fresh momentum across commodities, IPOs, and index-driven inflows
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2h
Goa Authorities Release Draft AI Policy With High Tech Innovation Goals
INDIA MARKET | Wed, 29 Apr 2026, 10:46PM IST
The draft AI policy will be available for public feedback on the state portal.
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2h
Cities near Mumbai likely to raise funds via bonds for first time
INDIA MARKET | Wed, 29 Apr 2026, 10:45PM IST
Navi Mumbai and Panvel plan maiden bond issues, signalling momentum in India's municipal debt market to fund urban infrastructure projects
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