Employees’ Provident Fund Organisation (EPFO) services remain unavailable beyond the scheduled July 1 deadline due to a planned database consolidation and software upgrade. This outage, affecting member and employer portals, prevents access to crucial functions like claim submission and e-passbook. Meanwhile, a new EPF Scheme, 2026, has been notified, introducing digital reforms and simplified withdrawal
Digital payment volumes saw a slight dip in June, with UPI transactions falling 2.1% month-on-month. Despite this, daily UPI activity remained robust, and year-on-year growth continues to impress. Other payment systems like FASTag and IMPS also experienced sequential declines, though yearly figures show mixed trends, indicating a dynamic digital payments landscape.
India’s passenger vehicle sector kicked off FY27 with robust June sales, fueled by strong demand for SUVs and EVs. Tata Motors saw a remarkable 69% surge, driven by popular models and record EV figures. Maruti Suzuki maintained its lead with a 19.3% increase, while Mahindra & Mahindra also reported significant growth. Despite a temporary production
Foreign investors returned as net buyers in June, injecting $531 million into Indian markets after a period of outflows. This positive shift was driven by substantial inflows into sovereign debt, totaling $5.8 billion, which more than compensated for continued equity selling. The debt market’s strong performance signals renewed international confidence in Indian government securities.
Private equity and venture capital investments saw a slight dip of 5% year-on-year in the first half of 2026, reaching $17.5 billion. Despite global uncertainties, investors deployed substantial capital, particularly in data centers and NBFCs. Late-stage companies attracted the largest share of funding, indicating continued confidence in established businesses. Overall, the sector demonstrated resilience, with
Hero MotoCorp is injecting Rs 3,200 crore into Andhra Pradesh over the next three to five years. This significant investment will bolster manufacturing, enhance its global supply chain, and expand into new business areas. A key part includes a new Global Parts Centre at Tirupati, alongside a doubling of production capacity, creating approximately 4,000 jobs
Scorching heatwaves have significantly boosted sales for consumer brands, with quick-commerce platforms witnessing a surge in demand for ice creams, beverages, and sunscreens. Ice cream sales alone soared by 140% year-on-year in May. This growth is attributed to expanding delivery services into smaller cities and a focus on fast delivery of seasonal essentials, offering consumers
Indian IT firms are increasingly embracing debt for significant acquisitions, a shift from their traditional cash-rich approach. Persistent Systems’ $1.5 billion financing for its Nagarro deal exemplifies this trend, driven by the need to build AI capabilities and expand globally. This strategic move aims for accelerated growth and relevance in a rapidly evolving tech landscape,
GST collections surged by 13.9% to Rs 1.94 lakh crore, the fastest in eight months, driven by a significant jump in import taxes on commodities like crude and fertilizers. While domestic collections saw a modest 6.5% rise, imports contributed substantially. This indicates robust manufacturing and import activity, though some states experienced significant drops in revenue.
Despite a dip in India’s smart TV market, the FIFA World Cup is driving a surge in premium television sales, especially for larger screens. Brands report significant demand for TVs 55 inches and above, with QLED and MiniLED technologies gaining traction. While macroeconomic pressures affect entry-level purchases, major sporting events are prompting consumers to upgrade
