Rediff

Foreign Portfolio Investors (FPIs) became net sellers in September, withdrawing Rs 35,860 crore from Indian equities due to global uncertainties, high US interest rates, and elevated crude oil prices, with outflows continuing into October.

India's foreign exchange reserves experienced a substantial drop of USD 18.343 billion, settling at USD 747.557 billion for the week ending September 25, according to the Reserve Bank of India.

Anup Saha, currently a Wholetime Director at Kotak Mahindra Bank, has been appointed as the new Managing Director and Chief Executive Officer for a three-year term, effective January 1, 2027, with the Reserve Bank of India's approval.

UPI transactions saw a 27% volume increase and 20% value increase in the first half of the current fiscal year. Despite a slight moderation in September, the digital payment system is set to implement a 0.4% merchant discount rate on transactions over Rs 2,000, aiming for a sustainable revenue model. Small merchants and person-to-person payments remain exempt, and UPI's global presence continues to expand.

Roughly 340-350 such rakes remain to be converted out of around 2,000 rakes.

The Indian IPO market recorded its highest monthly fundraising in September, with 34 mainboard companies raising 39,309 crore, despite a significant decline in the Nifty 50 index.

Indian factories saw an 8 per cent decline in gross fixed capital formation (GFCF) in FY25, marking the first drop since the pandemic, despite achieving record high employment generation, according to the latest Annual Survey of Industries (ASI) data.

A year after GST rates were rationalised, retail growth in automobiles has sustained beyond the initial festival surge, led by two-wheelers and passenger vehicles (PVs), with the Fada data showing rural markets emerging as a key driver of the post-GST demand recovery.

Tata Trusts Vice-Chairmen Venu Srinivasan and Vijay Singh challenge a proposed reorganisation of Tata Sons, alleging a lack of trustee consultation and raising concerns about its regulatory and financial implications.

India's Goods and Services Tax (GST) receipts, after accounting for refunds, surged by 18.1 per cent annually to approximately 1.77 trillion in September, marking its fastest growth in six months. This increase was primarily driven by a significant rise in tax revenue from imports, which grew 26 per cent annually.

Domestic passenger vehicle dispatches in India are estimated to have grown by approximately 21 per cent to 4.60 lakh units in September, with major carmakers like Maruti Suzuki, Tata Motors, M and M, and Hyundai all reporting double-digit growth, driven by increased supplies for the upcoming peak festival season and healthy demand.

HDFC Bank has announced the appointment of Anup Bagchi as its new Managing Director and Chief Executive Officer for a three-year term, effective October 27, 2026. Bagchi, currently leading ICICI Prudential Life Insurance, will succeed Sashidhar Jagdishan, whose term concludes on October 26, 2026. The Reserve Bank of India has approved this significant leadership transition.

Aviation security watchdog BCAS is conducting trials of full body scanners at Bengaluru and Cochin airports. The trials aim to collect data to refine algorithms, addressing privacy concerns and ensuring the technology is suitable for Indian passengers before wider deployment across airports.

The Indian corporate sector demonstrated strong credit quality in the first half of FY27, driven by robust balance sheets and healthy liquidity, despite facing risks from elevated crude prices, inflation, and global interest rates.

Indian benchmark indices, Sensex and Nifty, recorded their fourth consecutive day of losses, driven by relentless foreign institutional investor (FII) outflows, rising bond yields, and a significant surge in crude oil prices, impacting overall investor sentiment.

India's manufacturing sector activity surged to a seven-month high in September, driven by a significant acceleration in new orders and output, leading to solid expansion in factory hiring and a four-month peak in business optimism.

Patrice Caine, Chairman and CEO of Thales, highlighted Artificial Intelligence as both a major cybersecurity challenge, accelerating attack speed and autonomy, and a crucial tool for defenders. He also warned about quantum computing's future threat to encrypted data. Thales introduced new AI-powered solutions like Luna 8 and CipherTrust DSPM at its Cyber Summit 2026 to combat these evolving threats.

PFRDA Chairperson S Ramann announced an ambitious target to add 2-3 crore new subscribers to the National Pension System (NPS) within the next two years. This growth will be significantly driven by the new 'NPS Tatkal' scheme, which enables direct enrolment and contributions via UPI applications, making the pension system more accessible, especially in tier 2 and tier 3 cities and for the informal sector.

As India's festive season approaches, passenger vehicle dealers are seeing a notable increase in inventories, yet discounts remain surprisingly moderate compared to previous years, signalling a tighter demand-supply balance in the automotive market.

The Reserve Bank of India's outstanding net short dollar position in the forward book surged to a record $200.06 billion at August-end, up from $136.77 billion at July-end, primarily driven by FCNR(B) flows.

After a significant 9.9% depreciation in FY26, the Indian rupee has shown comparative stability in the first half of FY27, depreciating by only 1.1%, attributed to regulatory interventions and measures to attract foreign capital, despite ongoing global pressures from rising crude oil prices and foreign investor outflows.

UPI processed an average 802 million transactions a day in September, about 1 per cent more than the 792 million a day over the same period in August.

Reliance Industries Ltd (RIL) has successfully raised a total of Rs 25,000 crore through domestic bond issues in September, including a recent Rs 13,000 crore 10-year bond at 7.90 per cent, as it prioritises funding certainty amidst expectations of a possible RBI rate hike and rising borrowing costs.

Indian benchmark indices, Sensex and Nifty, experienced a decline in early trade due to relentless foreign institutional investor (FII) outflows, although a drop in crude oil prices below USD 100 per barrel provided some cushioning. Track Sensex, Nifty on October 1.

'The most effective investment approach is one that aligns with an investor's temperament, risk tolerance, and decision-making style.'

Chief Economic Advisor V Anantha Nageswaran stated that the second half of the current fiscal year (FY27) is expected to be challenging due to increased downside risks to global growth and rising interest rates worldwide.

Nasscom President Rajesh Nambiar stated that artificial intelligence is not making India's Business Process Management (BPM) industry obsolete but is instead driving its significant reinvention. He highlighted that the sector has an opportunity to become the world's intelligent operations and transformation hub by leveraging AI, analytics, and cloud-based operations, moving beyond traditional call centres. Nambiar outlined three key priorities for the industry, including reimagining processes, b

Indian benchmark indices Sensex and Nifty extended their losses for a third consecutive day, driven by firm crude oil prices, elevated global bond yields, and significant foreign fund outflows, making investors cautious.

AM Green Ammonia has won the Asian lot in H2Global's auction, securing a 10-year agreement to supply renewable ammonia to Germany, valued at over 585 million euros. This deal positions India as a significant exporter of green molecules, with production slated for AM Green's Kakinada project, utilising renewable power and aiming for 2029 deliveries.

Venu Srinivasan, a trustee and Tata Sons nominee director, has requested a regulatory inquiry into the governance of the Sir Dorabji Tata Trust, one of the charitable entities controlling 66 per cent of Tata Sons, citing concerns over trustee appointments and the trusts' involvement in commercial affairs.

Apple has launched its Apple Pay service in India, collaborating with Axis Bank to provide secure and private mobile payment solutions for iPhone, iPad, and Apple Watch users. The service allows contactless payments in stores, apps, and online, leveraging unique Device Account Numbers for enhanced security and is accepted by millions of merchants nationwide.

The All India Mobile Retailers Association (AIMRA) has announced a nationwide 'No UPI Day' protest on October 2 against the proposed 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Retailers argue that this charge will burden small businesses and impact their already thin profit margins, urging policymakers to withdraw the proposal.

India's Ministry of Power has notified the third phase of Corporate Average Fuel Economy (CAFE-III) norms for passenger vehicles, effective from April 1, 2027, which set relatively softer efficiency targets for lighter cars and demand greater improvements from heavier vehicles, a move expected to benefit manufacturers like Maruti Suzuki India.

Wadhwa Group Holdings Ltd, the holding company of real estate developer The Wadhwa Group, has filed preliminary papers with markets regulator Sebi for an Initial Public Offering (IPO) using the confidential route, keeping offer details private for now.

Despite the looming threat of El Nio and drought conditions in several states, the Indian government has set an ambitious foodgrain production target of 373.93 million tonnes (mt) for the 2026-27 crop year, slightly lower than the previous year's actual output but higher than its target.

Data infrastructure company NetApp has introduced Novus, a new storage architecture designed for large-scale AI factories, alongside significant enhancements to its AI Data Engine, hybrid multi-cloud operations, and strategic partnerships with Nutanix and SAP. These initiatives aim to improve data management, security, and efficiency for AI workloads and enterprise cloud infrastructure.

India's government is set to release its draft National Steel Policy for public consultation, aiming for over 600 million tonnes of steelmaking capacity and 500 million tonnes of consumption by 2047. The policy will also introduce a ~5,000-crore scheme to incentivise small steel producers for carbon emission reduction and address challenges like raw material availability and technological dependence.

India's Agriculture Secretary Atish Chandra has warned that the upcoming rabi (winter) crop season is likely to be challenging for rainfed areas due to the strengthening El Nio weather pattern, potentially affecting foodgrain production. This comes as Maharashtra declares drought in nearly 74 per cent of its talukas, highlighting the immediate impact of climate change.

Indian benchmark indices Sensex and Nifty rebounded in early trade after two days of losses, driven by easing crude oil prices and strong buying in blue-chip IT stocks, despite continued global uncertainties. Track Sensex, Nifty on September 30.

A letter sent by the Sir Dorabji Tata Trust to Venu Srinivasan, Tata Trusts vice-chairman and nominee director on Tata Sons, a day before the Tata Sons board meeting on September 17, is at the centre of deliberations.

Listing, according to Noel Tata, will fundamentally change how the company and the group have been working over the past 150 years.

Apple has launched its Apple Pay service in India, collaborating with Axis Bank to provide secure and private mobile payment solutions for iPhone, iPad, and Apple Watch users. The service allows contactless payments in stores, apps, and online, leveraging unique Device Account Numbers for enhanced security and is accepted by millions of merchants nationwide.

A new report by TeamLease Digital highlights a significant AI-ready talent gap in India's technology industry, with shortages of 53-60 per cent in Generative AI and cloud skills. The report indicates that only 16 per cent of IT professionals possess AI skills, leading to rising salary premiums for AI-core roles and a projected demand for over 10 lakh GenAI roles by 2026.

A new EY India report highlights how young professionals, women wealth creators, entrepreneurs, ESOP beneficiaries, and digitally active consumers from Tier-2 and Tier-3 cities are fundamentally changing India's wealth ecosystem. This shift is evidenced by increased participation of young and women investors, a rise in disciplined investing via SIPs, and the crucial role of Digital Public Infrastructure in democratizing access to long-term wealth creation. The report predicts over 100 million ne

Indian equity benchmark indices, Sensex and Nifty, extended their losses for a second consecutive day, driven by elevated crude oil prices, persistent foreign institutional investor (FII) outflows, and high US Treasury yields.

Tata Capital remains confident in its 23-25 per cent growth guidance, driven by strong momentum in Retail and SME segments, despite facing pressures from rising funding costs and potential impacts from new RBI regulations on revolving credit.

A Bain and Company report projects the global AI market must reach nearly USD 6 trillion annually by 2031 to sustain massive infrastructure investments. This growth will largely depend on new innovations beyond productivity gains, with a significant gap needing to be filled by emerging revenue streams like autonomous vehicles, physical AI, and new AI-driven products. The report also highlights the surge in hardware and semiconductor industries due to AI compute demand and the importance of AI ab

India's real estate sector recorded an unprecedented $9.5 billion in capital inflows during Q3 2026, primarily driven by foreign investors' strong interest in data centres, according to a CBRE Group report.

Tewolde Gebremariam, Air India's CEO and MD-designate, has outlined passenger safety, operational reliability, and sustainable profitability as the airline's foremost priorities, emphasising a stronger safety-reporting culture and improved disruption recovery.

TATA.CARS Launches All-New Aeris Compact Sedan, a facelifted version of the Tata Tigor, at a starting price of 5.29 lakh ex-showroom.