In a statement, the Finance Ministry also announced that the road and infrastructure cess on diesel exports will be waived for the next fortnight starting May 1. Meanwhile, the export duty on petrol will continue to remain at zero.
Federal Bank is set to acquire a credit card portfolio of approximately 4.5 lakh cards from Standard Chartered Bank, India. This strategic move will significantly boost Federal Bank’s non-co-branded credit card segment, adding a seasoned customer base concentrated in top cities and doubling its presence in those markets.
Amazon’s ultrafast delivery service, Amazon Now, is seeing impressive growth in India, with orders climbing 25% monthly. Prime members are tripling their shopping frequency using the 30-minute delivery option.
Bombay High Court has quashed a Rs 1,524 crore IGST notice issued to Tata Sons. The court ruled that Docomo’s withdrawal of UK court proceedings after a 2017 settlement did not constitute a ‘supply of services’ attracting GST. The demand was for damages paid to Docomo following disputes over a 2009 agreement.
Public sector banks significantly boosted their workforce in the last financial year, hiring 50,552 employees, a 33% increase from the previous year. This enhanced recruitment aims to strengthen operational capacity, alleviate workload, and improve customer service across state-run lenders.
The rupee hit a record low of 95.33 against the dollar on Thursday, driven by surging crude oil prices and concerns over inflation and capital flows. Suspected RBI intervention helped the currency recover to close at 94.91, though it remains under pressure. The outlook for the rupee is closely tied to the trajectory of global
India’s central bank significantly boosted its gold reserves, bringing back 104 metric tonnes domestically between October 2025 and March 2026. This move, amid global geopolitical tensions and a decline in foreign currency assets, saw gold’s share in forex reserves rise to 16.7%. Globally, central banks are increasingly repatriating gold, reflecting a growing trend towards bolstering
India’s foreign direct investment is projected to surpass $90 billion in 2025-26, marking a significant increase driven by enhanced investor outreach and upcoming free trade agreements. Gross FDI reached $88.3 billion by February 2026, with net FDI showing a substantial rise compared to the previous fiscal year. Changes to FDI rules for neighboring countries are
Hindustan Unilever (HUL) has implemented price hikes of 2-5% due to 8-10% cost inflation, primarily driven by soaring oil prices from the West Asia war. Despite these challenges, the company maintained its outlook, anticipating FY27 to outperform FY26, supported by rural income growth and stable demand.
