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Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding

Private refiners are cashing in on export margins, while state-run OMCs absorb losses from controlled pump prices and rising domestic demand

RBI backs blockchain technology, remains cautious on crypto: Guv Malhotra

India has maintained a cautious approach towards cryptocurrencies while promoting the underlying technologies such as distributed ledger technology and tokenisation, RBI Governor Sanjay Malhotra said on Saturday. Malhotra said India supports innovation in technologies underlying crypto assets, including distributed ledger and tokenisation, but remains cautious about cryptocurrencies due to concerns over monetary sovereignty, monetary policy and capital flows. "So, our approach has been to promote the underlying technologies, and we are using some of these in the central bank and outside in PPP (public-private partnership) mode. But insofar as crypto is concerned, it has been a cautious approach," he said at the Kautilya Economic Conclave. Expressing concerns about cryptocurrencies, the RBI Governor said it is related to the 'singleness of money' and their potential implications for monetary policy, particularly in emerging market economies, where capital flow restrictions are in ...

Sebi to soon issue framework on CAS; receives over 3,500 comments

Market regulator Sebi will soon issue a framework on proposed changes to the Closing Auction Session (CAS) mechanism after receiving more than 3,500 comments on its consultation paper, its Chairman Tuhin Kanta Pandey said on Saturday. The Securities and Exchange Board of India (Sebi) had sought public comments on its proposal to review certain aspects of the CAS, market timings and the settlement methodology for derivative contracts. The deadline for submitting comments is October 3. Asked when the final framework or circular on CAS can be expected, Pandey said the regulator would quickly examine the responses and move ahead with the process. "Today is the last date, and we will actually quickly look at all these comments and go ahead, because I think our proposals are quite clear," Pandey said at an event organised by CPAI (Commodity & Capital Market Participants Association of India). The regulator would not require much time to compile and analyse the responses as the proposals

Asiad 2026: India edge past Pakistan to defend gold medal in men's cricket

The victory completed India's golden double in cricket at the Asian Games, with Harmanpreet Kaur's women's team having earlier retained its gold medal after beating Sri Lanka in the final

Sanctions, tariffs sometimes weaponised as policy tools: PK Mishra

Principal Secretary to the prime minister, P K Mishra, on Saturday said export restrictions, sanctions and tariffs become instruments of economic policy and they are sometimes even weaponised. The top government functionary also said that wars disrupt energy and food markets while shipping routes and geographical choke points become sources of economic vulnerability. Addressing the Kautilya Economic Conclave on the subject 'A World Priced for Risk', he said India is a major energy importer, and any prolonged disruption to an important maritime route can affect the economy adversely. India's response, therefore, has combined several layers of protection. "For energy security, the disruption around the Strait of Hormuz has been a particularly clear reminder of how geography can translate into economic risk," he said. Without mentioning any country, the top official said export restrictions, sanctions and tariffs become instruments of economic policy, sometimes they are even ...

Nayara Energy increases petrol price by ₹5 per litre, diesel by ₹3

Nayara Energy, India's largest private fuel retailer, has raised petrol prices by Rs 5 per litre and diesel by Rs 3 with immediate effect, seeking to narrow the gap between retail prices and rising international oil and refined-product costs, people familiar with the matter said. The latest increase comes amid renewed pressure on fuel retailers from higher global energy prices and follows a series of price adjustments by Nayara this year as refiners grapple with the impact of geopolitical disruptions on crude and product markets. Nayara, which operates 7,108 petrol pumps across the country, raised petrol and diesel prices with effect from early hours of Saturday, sources said. An email sent to Nayara spokesperson for comments remained unanswered. Nayara was the first fuel retailer to pass on the surge in international oil prices to consumers when the Iran conflict disrupted energy supplies earlier this year. On March 26, it raised petrol prices by Rs 5 a litre and diesel by Rs 3, .

Democracy makes India's economic reforms durable, says vice-president

C P Radhakrishnan said consensus-building may slow decisions at times but makes reforms sustainable, while warning that growth benefits must reach every section of society

Narco-trafficking kingpin Navpreet Singh deported from Turkiye: Amit Shah

Union Home Minister Amit Shah on Saturday said hardened narco-trafficking kingpin Navpreet Singh has been deported from Turkiye. Terming it a "historic milestone of the Modi government", Shah posted on X that Singh obtained Turkish citizenship under the fake identity of Navab Virk and continued to smuggle heroin and methamphetamine to India from Afghanistan. "Our agencies tracked him down, ripping apart veil after veil to unmask his true identity, and secured his deportation. Today he has been brought back to India and put behind bars in connection with cases involving drug trafficking and other crimes he is accused of. Congratulations to all the agencies for this success," Shah said. The Modi govt is committed to destroying every narco-cartel before December 2029, he said.

Tata Sons boardgame likely to spur promoter relook at the charters

Experts say clearer boundaries between promoter oversight and professional management can help prevent governance conflicts

10 years of inflation targeting: How elephant was driven away to the jungle

India's inflation-targeting framework has anchored price expectations, but economists see scope to refine its mandate

1991 reforms: Quant analysis shows liberalisation gains are petering out

India's global percentile ranking has improved modestly since 1991, but weak per capita gains and external vulnerability remain key drags

India-US trade deal is not imminent yet, says USTR Jamieson Greer

USTR Jamieson Greer says both sides have identified the sticking points and are working diligently towards an agreement, with another leaders' call likely soon

FlyDubai cockpit attack puts aviation security under fresh scrutiny

Israel has some of the world's most stringent air travel security measures. The United Arab Emirates proudly adheres to international aviation safety standards. Yet those safeguards failed to prevent a flight between the countries from taking a dangerous plunge during an alleged attack in the cockpit. The copilot allegedly stabbed the captain in the cockpit before passengers intervened aboard FlyDubai Flight FZ1073 after taking off from Dubai, UAE, with 174 people flying to Tel Aviv, Israel, on Wednesday. The airplane made a safe emergency landing in Saudi Arabia on Wednesday and the incident is under investigation by Saudi, Emirati and Israeli authorities, with the United States and Oman assisting efforts to determine a motive. "Until this event, the possibility of a threat originating from a pilot or crew member was not considered a likely scenario. Security efforts have traditionally focused much more heavily on passengers and their luggage," said Eyal Hulata, Israel's former ...

FlyDubai pilot Smit Machchhar's path from nervous pilot to cockpit 'hero'

Smit Machchhar, who was stabbed by his copilot, opened the cockpit door after fighting back, allowing passengers to subdue the attacker and avert a crash

Matter of liquidity: How the RBI manages cash in the banking system

Why the central bank relies on a mix of short- and long-term tools to keep money in check

Asian Games 2026: Lovlina joins Mary Kom with boxing gold on her birthday

Lovlina Borgohain beat China's Bao Ziyi 5-0 in the women's 75kg final on her birthday, ending India's 12-year wait for an Asian Games women's boxing gold since Mary Kom's 2014 triumph

Protest demanding CEC Kumar's resignation at Jantar Mantar today: Details

Delhi Police has denied permission for the October 2 protest, with prohibitory orders in New Delhi and 11 Metro stations shut as groups demand CEC Gyanesh Kumar's resignation

SIR row: ECI orders special drive to enrol 'left-out' voters in 20 states

The ECI has asked 20 states and UTs where SIR is complete to compare pre- and post-SIR rolls, identify voters left out and enrol them through Form 6

OpenAI alerts more than 100 organisations over rogue AI agent activity

The Sam Altman-led company ​has been conducting ​a broad review of the activities of its AI ​models after the accidental hacking of Hugging Face

Russia will use all weapons in arsenal if territory attacked, says Putin

President Vladimir Putin on Thursday reiterated Moscow's long-held position that Russia is not planning to attack European countries but will respond to aggression with "all weapons" in its arsenal. In remarks at a foreign policy forum, Putin accused the West and Europe of escalating tensions by talking about preparing for a war with Moscow in the coming years, conducting military drills in the Baltic Sea, and seizing Russian vessels. His remarks followed Moscow's warning to NATO that it would not hesitate to use nuclear weapons to defend Kaliningrad should any members of the military alliance try to cut off the Baltic exclave from the rest of Russia. Several Russian embassies in Europe this week issued statements that said Moscow has "information that NATO is preparing (an) air and naval blockade of Kaliningrad and (the) Kaliningrad region." They accused European leaders of "playing a dangerous game" by saying Russia might attack another country or ramp up a campaign of destabiliz

Stock market holiday: BSE, NSE closed today for Gandhi Jayanti

Both the BSE and NSE will see no trading activity for three consecutive days in October, from Friday, Oct. 2, through Sunday, Oct. 4.

Indian banks faced $500 million FX losses after RBI position curbs

Crisil Coalition Greenwich said banks recovered around $400 million after market spreads widened and positions were normalised following the RBI directive

Business Standard poll: RBI may hike repo rate by 25 bps in October meet

RBI may raise repo rate by 25 bps in October as higher crude prices raise inflation risks, while resilient growth could prompt an upward revision to the FY27 growth forecast

HDFC Bank appoints Anup Bagchi as MD and CEO for three years after RBI nod

Bagchi will take charge on October 27, succeeding Shashidhar Jagdishan, as India's largest private sector lender navigates governance concerns and a leadership transition.

Electricity shortage rises fivefold in September, remains low in volume

India's electricity shortage rose to 544 million units in September from 98 million units in August, as power demand increased and coal stocks at thermal plants fell

New factory investment falls in FY25 for first time since pandemic: NSO

Gross fixed capital formation fell 8 per cent in FY25 after two years of strong growth, while factories added workers and wage growth edged ahead of profit growth

Capex slows in Q2 as new project announcements, completions lose pace

The factors affecting private investment may be more global in nature in the immediate future, suggested Madhavi Arora, chief economist at Emkay Global

When complaints become insights

The next chapter in grievance redress is to ensure one customer's experience prevents the same problem for the next

Not consulted on Tata Sons reorganisation letter: SDTT vice-chairmen

Venu Srinivasan and Vijay Singh said no SDTT meeting had authorised the September 28 proposal and called for collective deliberation on its legal, financial and governance implications

How to tame the dragon: India seeks homegrown brands to take on China

The government has for the first time put together a plan to try and change the game by encouraging homegrown players to build a mobile brand

Goyal meets Greer, pushes for early conclusion of India-US trade deal

Goyal and Greer discussed an interim trade agreement at the G20 meeting in Milwaukee, where talks also covered food supply chains, excess capacity and forced labour

CEA Nageswaran flags short-term savings bias as India's population ages

V Anantha Nageswaran said Indians are increasingly willing to take market risk, but have yet to commit savings for longer tenures needed to finance retirement

India's petrol, diesel demand grows in September; LPG consumption falls

Petrol sales rose 7.21 per cent and diesel sales 4.86 per cent in September, while LPG consumption fell 9.15 per cent amid import dependence and West Asia supply disruptions

UPI continues to grow strongly, volumes up 23% at 24.07 bn in September

Clocks highest daily avg volume of over 800 mn transactions

Stock Market Close: Sensex falls for 4th day, ends 571pts down; Nifty at 22,422; Nifty Auto slips 3%

Sensex Today | Stock Market Highlights, Thursday: In the broader markets, the Nifty MidCap and the Nifty SmallCap fell 1.01 per cent and 0.97 per cent, respectively

Anarock Property Consultants files DRHP to raise ₹1,000 cr via IPO

The issue comprises a fresh issue of up to Rs 550 crore and a Rs 450 crore OFS, with proceeds earmarked for AI, talent expansion and acquisitions

Market crash: Sensex sinks 1,280 pts intraday, at 2026 low; Nifty at 22,200

Stock market crash: Analysts flag October rate hike fears, low liquidity, high oil prices, persistent FIIs selling and a long-weekend as some of the key reasons for the market fall on Thursday.

Gross GST collections rise 14.7% to over ₹2.03 trillion in September

Gross GST collections rose 14.7 per cent in September to over Rs 2.03 lakh crore. Gross GST collections from domestic activities rose 10.1 per cent to about Rs 1.38 lakh crore, while revenues from imports were up 26 per cent to Rs 65,525 crore. Goods and Services Tax (GST) refunds, however, slowed to Rs 27,001 crore in September, a decline of 3 per cent year on year. After adjusting for refunds, net GST collections rose 18.1 per cent to over Rs 1.76 lakh crore in September. During the first half of the fiscal (April-September), gross GST collection grew 11.6 per cent to over Rs 12.46 lakh crore. Net collections rose 10.4 per cent to over Rs 10.66 lakh crore.

India's manufacturing PMI rises to 55.1 in September, hits 7-month high

The HSBC India Manufacturing PMI rose from 52.8 in August as new orders grew at their fastest pace since February, while exports and output also accelerated

Who is Smit Machchhar, Indian pilot hailed as hero after flydubai attack?

Smit Machchhar was the captain of flydubai Flight FZ1073, travelling from Dubai to Tel Aviv on Wednesday when a violent confrontation broke out inside the cockpit

Nifty IT defies market weakness, rises 2%; Mphasis, Coforge, TCS lead

The Nifty IT index advanced 2.1 per cent during intra-day deals, with nine out of ten constituent stocks of the index trading in the green.

Bajaj Auto, M&M, Hero Moto skid up to 6%; here's why auto stocks are down

Nifty Auto index decline 3 per cent to 25,507, hitting an over four month low on the National Stock Exchange in Thursday's intraday deal.

ATF prices increased by around ₹16 per litre; commercial LPG rises ₹62.50

Aviation turbine fuel (ATF) prices were raised by a steep Rs 16 per litre from Thursday, while the price of commercial LPG was increased by Rs 62.50 per 19-kg cylinder in step with firming international benchmarks, according to state-owned oil companies. ATF prices were increased to Rs 137 per litre from Rs 121 for domestic airlines, according to the oil companies. The latest revision comes after ATF prices were raised by Rs 6.28 per litre, or 5.46 per cent, in September, following a Rs 5 per litre increase in August. ATF accounts for up to 40 per cent of operating costs for airlines, making fuel prices a key cost factor for carriers. Alongside, commercial LPG rates were hiked by Rs 62.59 per 19-kg cylinder. Commercial LPG prices were raised by Rs 9.50 per 19-kg cylinder in September, following two consecutive monthly reductions of Rs 192 in August and Rs 183.50 in July. The cuts came after commercial LPG prices had surged to a record high in June amid disruptions to global energy

35 years of liberalisation: How the reforms bus bypassed India's farms

Three decades after economic liberalisation, India's farm sector still faces deep structural constraints, from weak markets and investment to subsidy dependence and resistance to reform

SIR draft roll exclusions bring electorate to 2015 level, shows data

The Supreme Court has agreed to hear a plea challenging Chief Election Commissioner Gyanesh Kumar's role in the Special Intensive Revision (SIR) exercise

Carrefour's return tells a story

After 12 years, the French retailer's return to India signals a shift in the retail landscape

Member of Tata Trusts seeks governance probe as rift deepens

Tata Trusts senior trustee Venu Srinivasan has sought an investigation into why the philanthropic arm is increasingly intervening in the commercial ‌affairs of Tata Sons.