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BusinessSridhar Vembu Counters Musk’s India Criticism With Cheap Data and Digital Payments
Zoho founder Sridhar Vembu challenged whether Elon Musk’s monopoly allegations were credible, citing India’s inexpensive mobile data, affordable medicines and digital payments while responding to Musk’s criticism of Mukesh Ambani.
BusinessIndia and ASEAN Set Deadlines to Speed Up Trade Agreement Review
India and ASEAN set deadlines for unfinished trade agreement negotiations after October 6–9 meetings in Jakarta, strengthening accountability for progress; their next review meeting is scheduled in India during January.
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BusinessIndia’s Defence Exports Hit Record ₹38,424 Crore in FY26
India’s defence exports reached ₹38,424 crore in FY26, rising 62.66% from the previous year, with public and private manufacturers strengthening industrial resilience as exports reached more than 80 countries worldwide.
BusinessRBI Cancels 13 NBFC Registrations; Ten Others Surrender Licences
RBI cancelled registrations of 13 non-banking financial companies, while ten others surrendered licences, reinforcing accountability in financial services; companies losing registration can no longer conduct regulated non-banking financial business activities.
BusinessTCS Withholds Senior Staff Bonuses After Missing Quarterly Targets
TCS withheld September quarter bonuses for employees in senior grades after missing performance targets, creating financial adversity for affected staff; junior employees will receive their full eligible variable pay instead.
BusinessSEBI Introduces Faster Settlements for Cases Worth Up to ₹10 Lakh
SEBI introduced revised settlement calculations and a faster route for cases involving amounts up to ₹10 lakh, strengthening accountability while separating wrongful gains from the base amount to prevent double-counting.
BusinessIndia’s Forex Reserves Drop $13 Billion to $734.6 Billion
India’s foreign exchange reserves fell approximately $13 billion to $734.6 billion in the week ending October 2, with declining foreign currency assets and gold holdings adding adversity to reserve management.
BusinessRBI Tightens Currency Trading Rules, Opens Dollar Window for Oil Companies
The RBI announced new currency trading restrictions and direct dollar supplies for three government oil companies from October 12, aiming to strengthen the rupee’s resilience and reduce exchange rate volatility.
BusinessHome Loans Start at 7% in Public-Bank Comparison, but Borrower Rates Vary
Mint’s October 7 comparison lists home loans from 7% across 12 public banks. Borrowers should check updated credible lender information, as final rates depend on credit scores, amounts and fees.
BusinessMaharashtra School-Bus Operators Plan to Stop UPI Fee Payments From October 15
Maharashtra’s school-bus operators plan to stop accepting UPI fees from October 15, citing contentious proposed transaction charges. Their association advised parents to use alternatives, including cheques, for children’s transport payments.
Chhattisgarh Blacklists Oriental Insurance for Three Years Over Helicopter Claim
Chhattisgarh barred Oriental Insurance from government business for three years after contentious helicopter claim remained pending for over four years before rejection. The aircraft crashed at Raipur in May 2022.
BusinessHouseholds Expect 10% Inflation Over Next Year, RBI Survey Finds
RBI’s September survey shows households consider 10% inflation over the next year plausible, up from July’s 9.4% expectation. This measures public expectations about prices, rather than India’s recorded inflation rate.
BusinessOnly Slightly Over 4% of Indian Jobs Face AI Disruption Risk, Says World Bank Official
World Bank executive Neelkanth Mishra offered grounds to remain skeptical of widespread AI job-loss fears: slightly over 4% of Indian jobs face disruption risk, while AI could support other workers.
BusinessHDFC Proposes ₹35.9-Crore Annual Pay for Incoming CEO Anup Bagchi
Regulatory disclosures substantiate HDFC Bank’s proposed ₹35.9-crore annual pay package for CEO Anup Bagchi. He takes charge on October 27, potentially becoming India’s highest-paid bank chief, subject to shareholder approval.
BusinessIT Stocks Add ₹70,000 Crore as TCS Results Outweigh US Visa Concerns
Indian IT shares added ₹70,000 crore in market value despite US labour-certification restrictions. TCS earnings and easing oil prices helped mitigate concerns, while the Nifty IT index surged over 4%.
BusinessFaster GST Refunds Could Free Up Businesses’ Blocked Working Capital
Faster GST refunds could mitigate businesses’ financing pressures, Deloitte partner M Pandiyan wrote. Proposed reforms include quicker acknowledgements, automated checks and wider refund eligibility to release blocked working capital sooner.
BusinessWeak SIP Returns? Prashant Jain Urges Investors to Look Beyond Short-Term Results
Fund manager Prashant Jain said weak SIP returns should not undermine confidence while businesses and India’s economy grow. He urged patience, explaining that flat markets can benefit regular long-term investors.
BusinessOneWeb Is Waiting Too’: Sunil Mittal Responds to Musk’s Approval Complaint
Airtel chairman Sunil Mittal responded to the contentious Starlink row, saying OneWeb also awaits approvals. The government said Starlink, OneWeb and Jio Satcom remain at broadly the same regulatory stage
BusinessRahul Gandhi Replies to Musk’s Ambani Remark as Starlink Row Grows
Rahul Gandhi joined the contentious Starlink dispute, replying to Elon Musk’s Ambani criticism. The government rejected discrimination allegations, saying satellite operators must meet security conditions before launching services in India.
BusinessGold Climbs 1.5% as Weaker Dollar and Falling Bond Yields Boost Demand
Gold rose 1.5% to $4,218.15 per ounce as the dollar weakened and US bond yields fell. However, potential interest rate increases could undermine demand for gold, which pays no interest.