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.
Vodafone Idea has received significant relief as the Department of Telecom reassessed its Adjusted Gross Revenue (AGR) dues to Rs 64,046 crore, a reduction of over Rs 23,000 crore. The company will now pay these dues in installments between 2031 and 2041, providing much-needed financial breathing room.
Russia continues to be India’s top crude oil supplier in April, despite a dip in shipments. While Saudi Arabia and UAE increased their supplies, India resumed imports from Iran and Venezuela to compensate for disruptions in West Asian supplies. LPG imports saw a significant fall, with domestic production bridging the gap.
US President Donald Trump announced the removal of tariffs and restrictions on whiskey trade between Scotland and Kentucky. This decision, influenced by the recent visit of King Charles and Queen Camilla, aims to bolster long-standing trade ties, particularly concerning wooden barrel exchanges.
Domestic urea production has bounced back to last year’s levels, with April output reaching 21 lakh tonnes, a significant recovery after a March dip. With natural gas supplies largely restored and robust import assurances, the government confirms ample fertilizer availability to meet the upcoming kharif crop needs, ensuring farmers remain unaffected by global price hikes.
India is boosting its shipbuilding capabilities by adopting a “structured tender” approach for specialized vessels like gas and oil tankers. This strategy mandates that a portion of these ships be built domestically, facilitating technology transfer and strengthening local manufacturing. The government aims to aggregate demand for hundreds of vessels to enhance self-reliance in the maritime
