Business

Foreign Institutional Investors (FIIs) withdrew ₹11,591 crore from India last week due to market volatility and global factors like the US credit downgrade by Moody’s. Despite this, their net purchase in May stands at ₹13,835 crore, indicating their continued interest in Indian markets. US President Trump on Friday warned of a 25% tariff on Apple…

The RBI has formed a new six-member Payments Regulatory Board (PRB) to regulate India’s payment systems, replacing the current Board for Regulation and Supervision of Payment and Settlement Systems (BPSS). The PRB, which will have government nominees, will be overseen by the RBI Governor. The RBI Governor will chair the PRB, which will include 3…

Zomato-backed Shiprocket, specialized in D2C brand shipments, is preparing to submit a draft prospectus to SEBI for its IPO to raise ₹2,000-2,500 crore. Shiprocket’s board has approved the IPO plan and aims to file its papers within two days through SEBI’s confidential route as reported by the Economic Times. Companies utilize the confidential filing route…

Mumbai’s CSMIA raised its User Development Fee from May 16 as approved by AERA. The increase will apply to tickets issued between May 16 and March 31, 2029, causing higher costs for passengers departing from Mumbai. The updated fee structure includes added UDF charges for domestic passengers departing and arriving in Mumbai: ₹175 for departure…

Gold prices dropped today due to decreased safe-haven demand resulting from improving US-China trade relations. Spot gold fell by 0.4% to $3,234.32 per ounce, with US gold futures also declining by 0.3% to $3,237 per ounce. Kyle Rodda, an analyst at Capital.com, noted that positive US trade policy changes are making gold less attractive in…

Introduction India’s ready-made garment (RMG) sector is on the cusp of a significant transformation, with projections indicating a potential doubling of its market share in the United Kingdom. According to CareEdge Ratings, India’s RMG exports to the UK could increase from the current 6.14% to 12% in the near term. This optimistic outlook is driven…

India will not offer duty concessions on British wines in the new Free Trade Agreement with the UK; the deal, announced on May 6, has limited import duty benefits for British beer. Dairy, apples, cheese, oats, animals, and vegetable oils are not part of the agreement. The FTA is still undergoing legal review and is…

The Adani Group introduced India’s first hydrogen-powered truck for mining in Chhattisgarh, carrying 40,000kg over 200km. This move aligns with their focus on eco-friendly transport. The vehicle was unveiled in Raipur by Chhattisgarh Chief Minister Vishnu Deo Sai, a significant step towards sustainable mining. Adani Enterprises, part of the Adani Group, intends to swap diesel…

Bitcoin surged past $100,000 due to increased trade optimism and institutional adoption. Its price rose by 4% to roughly $102,900 in the last day, marking a 9% increase in the past five days and a remarkable 37% jump in just a month. With a market cap surpassing $2 trillion, Bitcoin is now the world’s fifth-largest…

Envelope budgeting simplifies personal finance management by assigning set amounts of money to spending categories represented by envelopes, preventing overspending and promoting discipline. By tracking expenses with physical or digital envelopes, informed spending decisions are facilitated. Begin by allocating money for vital expenses like rent, utilities, groceries, and transportation, which are non-negotiable monthly costs. Prioritize…