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US blockade strikes third ship with Indian crew An Indian crew-manned, Guinea-Bissau-flagged asphalt tanker, MV Jalveer, was attacked by the American military off the coast of Oman. This is the third ship with an Indian crew to be targeted in the last four days. While there were no casualties on Thursday, an earlier attack killed three Indian seafarers. The government said it has strongly taken up the matter with the US. This is the first public acknowledgement of the US Navy targeting ships with Indian crew. A Palau-flagged oil tanker, Marivex, carrying 24 Indian seafarers, was disabled by US forces on June 8. All crew members were safely rescued. On June 10, the US struck another Palau-flagged tanker, Settebello, killing three of the 24 Indian sailors on board. Following the attack on Wednesday, the External Affairs Ministry (MEA) summoned US Charge d'Affaires Jason Meeks and handed him a demarche, or diplomatic note of protest. 75 IPOs unlock $31 billion worth of shares by Sept-end Shareholder lock-ins in 75 recently listed companies are set to expire between June and September, opening a fresh window for private equity (PE) and venture capital (VC) investors to monetise holdings through block deals, with exits expected to be staggered amid volatile market conditions. Data compiled by Nuvama Alternative & Quantitative Research show shares worth about $31 billion becoming eligible for trading by September 28. The lock-ins for Meesho expired this week, opening up 3,083 million shares, equivalent to 68 per cent of its outstanding equity. Aequs's lock-in expiry opened 146 million shares on Tuesday. Next week, 923 million shares of Vishal Mega Mart and 344 million shares of ICICI Pru AMC become eligible to trade. Other unlocks for June include Wakefit Innovations, Corona Remedies, Nephrocare Health Services, Oswal Pumps and Sai Life Sciences. These expiries come at a time when volatility in equity markets has slowed the pace of fresh listings, making secondary transactions a key exit route for pre-IPO investors. While half of these companies are still trading at a premium, almost all are in the red from their highs since listing. Petrol blended with 22-30% ethanol exempted from central excise Petrol with ethanol blending between 22-30 per cent will be exempted from Central Excise Duty. Finance Ministry has issued multiple notifications for that. However, Oil Ministry said that roll out of higher blends will only be done after extensive testing and consultation. As on date, petrol with blending up to 10 per cent is exempted from Central Excise Duty. For unbranded petrol, Central Excise Duty is ₹11.90 per litre, while for branded it is ₹13.10 per litre. The price of petrol (including ethanol blended petrol) has been market determined with effect from June 26, 2010. Since then, oil marketing companies (OMCs) take appropriate decisions on pricing of petrol based on, inter alia, international product prices and domestic market conditions. According to a notification, there will be NIL duty for 22 per cent ethanol blended petrol consisting, by volume, of 78 per cent motor spirit, (commonly known as petrol), on which the appropriate duties of excise have been paid and of 22 per cent ethanol on which the appropriate Central tax, State tax, Union territory tax or Integrated tax, have been paid. It should conform to the Bureau of Indian Standards specification Similar provision will be made for 25 per cent, 27 per cent and 30 per cent ethanol blended petrol. Automakers move to cut prices on British-built luxury cars ahead of India-UK FTA implementation Luxury automakers are beginning to pre-empt the proposed India-UK free trade agreement by slashing prices on British-built imported cars, creating expected customer savings ranging from about ₹8 lakh on the MINI Cooper S to ₹75 lakh on the Range Rover SV, and as much as ₹3.32 crore on the McLaren 750S Spider as companies move early to capture demand ahead of a formal treaty implementation. For brands such as Bentley, Aston Martin and Rolls-Royce, the agreement could potentially trigger price reductions ranging from ₹1 crore to more than ₹3 crore depending on engine size and model specifications. But the proposed pact is also creating an unusual inversion in India's premium automobile market: while some of the country's most expensive petrol-powered supercars and luxury SUVs are suddenly becoming dramatically cheaper, premium electric vehicles and hybrids remain excluded from the benefits and will continue attracting steep import duties for years. (Research and VO: Siddharth Mathew Cherian)

MF equity inflows fall 40% m-o-m to one year low amid uncertainty Volatility in equity markets and concerns over economic growth dampened inflows into mutual fund schemes, including SIPs, in May. Equity inflows fell to a one-year low, dropping 40 per cent month-on-month (m-o-m) to ₹22,908 crore in May from ₹38,440 crore in April, as investor sentiment was hit by a market downturn driven by persistent foreign portfolio outflows and heightened volatility, according to AMFI data released on Wednesday. Hybrid schemes inflow nearly halved m-o-m to ₹10,560 crore ( ₹20,565 crore), while debt funds registered an outflow of ₹96,949 crore as against an inflow of ₹2.47 lakh crore in May. Meta and Reliance Industries partner to develop 168 MW, AI-enabled data centre in Gujarat Meta Inc is set to have its own 168-MW capacity AI-enabled data centre in Jamnagar set up by Reliance Industries in India within two years. The new data centre, separate from the 1 GW data centre announced by Reliance in 2025, will act as part of Meta's global infrastructure, supporting its core business and AI compute needs. As the first built-to-suit data centre capacity in India for Meta, the project underlines India's emergence as a global hub for AI infrastructure. Meta will lease capacity from the facility, expanding the company's global infrastructure, supporting its core business and AI compute needs while Reliance Industries will provide end-to-end services for the data centre lifecycle. Starlink licensing in India stuck amidst geopolitical strains Industry experts estimate geopolitical developments to have soured Starlink's chances of getting licensing approvals in India, even as the company rubbishes “unsubstantiated claims” of a regulatory freeze. Following news reports that the Indian government had frozen approvals for Starlink's commercial operations, Lauren Dreyer, Vice President of Company Business Operations stated on X, “Starlink remains in active and productive discussions with the Government of India contrary to misleading stories based upon unsubstantiated claims from anonymous sources.” However, industry stakeholders speaking to businessline said Starlink's approval procedure which was considered smooth-sailing until last year has hit a rut in terms of security checks. Many attributed this to the geopolitical developments, particularly in terms of the India-US relations. Zoho launches hardware play with designed-in-India server Nathu La Eyeing tech sovereignty in the data hardware space and in a step to build the full enterprise technology stack, Zoho has launched its indigenously designed server Nathu La. Zoho says with Nathu La it has achieved equivalent performance, with 12-18 per cent lower power consumption and 20-30 per cent lower total cost of ownership (TCO). In Zoho's marquee style, the R&D work for the server platform was entirely done out of Nagpur by local talent recruited and trained by the company. The centre was set up in 2020 with an eye to play the long game in enterprise hardware. The Nathu La server motherboard and chassis platform is the result of over five years of R&D across hardware, firmware, and systems management. Based on Intel® Xeon® 6 Processors, the server is designed to optimise performance for virtualisation (VM), High Performance Computing (HPC), AI inference, and storage applications. (Research and VO: Siddharth Mathew Cherian)

1. Government forgoes over ₹1.23 lakh crore during 78-day fuel price freeze The government provided nearly ₹1.23 lakh crore in support to state-run oil marketing companies to freeze fuel prices for 78 days following the West Asia crisis, top officials said on Tuesday. Concurrently, the Fertiliser Ministry has sought a near-100 per cent increase in subsidy support over its budgeted outlay, that amounts to an additional allocation of approximately ₹3.4 lakh crore. The substantial fiscal cushion provided to the energy sector underscores the intensity of the external shocks hitting India's import bills. “Oil Marketing Companies are still incurring ₹650 crore per day loss for selling fuel at lower rate than the prevailing global crude prices,” said a senior official. The financial cushion was necessary even though oil marketing companies raised retail petrol and diesel prices four times since May 15, totalling a hike of ₹7.50–₹8 per litre. Previously, the government had reduced excise duty on both fuels by ₹10 a litre on March 27. 2. TCS signals hiring slowdown; AI agents to match human workforce Tata Consultancy Services (TCS) will have as many AI agents and workers as its human workforce within the next three years, Tata Sons Chairman N. Chandrasekaran said on Monday, underscoring the company's growing focus on artificial intelligence as a key driver of future growth. Speaking at TCS' 31st Annual General Meeting, Chandrasekaran said, “I predict that over the next three years, TCS will have as many AI agents as human employees.” Highlighting the scale of AI adoption within the company, he added, “The day is not very far when TCS will have equal number of AI agents or AI workers as their physical workers.” Chandrasekaran noted that TCS is already investing extensively in AI agents across internal operations, solution frameworks and external operations as part of its broader strategy to capitalise on the rapid evolution of enterprise AI. 3. Telcos oppose separate authorisation for V2V, V2X communications Telecom operators, including Reliance Jio, Bharti Airtel and Vodafone Idea have opposed the separate service authorisation for Vehicle-to-Infrastructure (V2I) or vehicle-to-vehicle (V2V) communications, particularly where such communication could be enabled through existing licensed telecom networks (through cellular networks or through localised road-side infrastructure deployed for intelligent transport and road-safety applications). In a submission to the Telecom Regulatory Authority of India (TRAI), the telcos said that the regulatory framework for spectrum assignment for V2I/C-V2X services should be based on licensed, interference-protected and IMT-integrated use of the 5.9 GHz band, rather than a fragmented or licence-exempt model. 4. Zepto co-founders questioned by ED in FEMA case Zepto co-founders Aadit Palicha and Kaivalya Vohra have been questioned by the Enforcement Directorate (ED) in April in a Foreign Exchange Management Act (FEMA) case, with investigators examining their overseas investments, audited financial statements, shareholding patterns, loans and guarantees, and income-tax returns to ascertain contravention of law. Zepto, the quick-commerce firm which is coming with an IPO, disclosed this in its updated Draft Red Herring Prospectus (UDRHP). At the same time, Zepto wrote in its draft IPO document that they have not received any further communication from the ED after submitting documents and information sought. “We cannot assure you there will not be future inquiries or that these could escalate to investigations, legal proceedings or any possible penalties,” they disclosed. (Research and VO: Siddharth Mathew Cherian)

In a major win for telcos, Bombay High Court on Monday quashed the government's one time charge for spectrum, stating that the Centre has failed to justify any authoritative power in levying the charges and altering the financial terms of the telecom licenses as an afterthought. A division bench of Justices Shreeram V. Shirsat and Manish Pitale also directed the government to set aside demand notices and return any related bank guarantees furnished by the telcos. It upheld Bharti Airtel's and Vodafone Idea's arguments that the Centre holds no power to retrospectively impose a one-time spectrum charge in 2012 for spectrum held above 6.2 MHz from the year 2008 onwards. India's EV inventory falls to single digits as waiting periods loom, ICE vehicle stocks rise A sharp surge in demand for EVs has pushed dealer inventory levels down sharply to low single digits, with select higher-end variants of models such as the MG Windsor EV, Tata Nexon EV, Tata Punch EV, Mahindra BE 6, Mahindra XEV 9e, Bajaj Chetak and Ather's 450X and Rizta scooters beginning to see waiting periods as fuel-price hikes accelerate consumer preference for electric mobility and other fuel-efficient vehicles, according to dealers and automakers who spoke to businessline. Dealers and automakers said fuel-price hikes are accelerating consumer preference for EVs, CNG cars and smaller fuel-efficient vehicles, while simultaneously leading to rising inventories of higher-displacement petrol and diesel vehicles as buyers are increasingly moving away from ICE models. FY27 Disinvestment proceeds cross full FY25 collections in 2 months; Miscellaneous Capital Receipts exceeds 23% of BE The government's Mop-up under ‘Miscellaneous Capital Receipts' (MCR) crossed more than 23 per cent of the budget estimates in just little over two months of FY27 driven primarily by robust earnings from disinvestment. Significantly, earnings from disinvestment in just two months exceeded those during full fiscal of FY25 and nearly 72 per cent of full fiscal of FY26 . Union Budget has pegged MCR at ₹80,000 crore. According to the budget document, these include receipts on account of management of equity investments and public assets through various mechanisms. Put simply, MCR primarily includes disinvestment (sale of minority share holdings and strategic disinvestment) and asset monetisation. Data from DIPAM shows government offloaded parts of its stake in three CPSEs (Central Public Sector Enterprises) — Central Bank, Coal India and NHPC and mobilised ₹12,165 crore. Govt cuts PM Ujjwala subsidy as domestic LPG cylinder cost surpasses ₹1,600 Government has reduced the number of cylinders for which a Pradhan Mantri Ujjwala Yojana (PMUY) household can avail subsidy from nine to four. The subsidy amount remains unchanged at ₹300 per 14.2 kg domestic LPG cylinder. The decision comes amid the disruption in Strait of Hormuz, West Asian conflict almost completely choking-off LPG supplies coming out of West Asia via the Strait of Hormuz (SoH) which have pushed up benchmark Saudi CP prices, resulting which reflected in the domestic cylinder cost rising past ₹1,600 and losses of PSU oil marketing companies (OMCs) hitting ₹700 a cylinder. Praveen Mal Khanooja, Additional Secretary in the Ministry of Petroleum and Natural Gas (MoPNG), said on Monday that PMUY households will receive ₹300 a cylinder on the first four refills each year -- ₹1,200 per beneficiary a year. (Research and VO: Siddharth Mathew Cherian)

From rising LPG prices due to West Asia disruptions and new edible oil packaging norms, to CBSE tightening its re-evaluation system and Tata Steel facing delays in its UK green steel project—here are today's key updates across energy, education, and industry. Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Get today's top business news, market headlines about key market insights, economic highlights, and the latest updates from India and global markets.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Get today's top business news, market headlines about key market insights, economic highlights, and the latest updates from India and global markets.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Get today's top business news, market headlines about key market insights, economic highlights, and the latest updates from India and global markets.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Get today's top business news, market headlines about key market insights, economic highlights, and the latest updates from India and global markets.

EV two-wheelers see sharp May surge India's electric two-wheeler market continued its strong momentum in May 2026, with registrations jumping 58% year-on-year to 1.64 lakh units. Growth was also robust sequentially, up 18% from April, signalling sustained demand. Analysts attribute the surge to expanding EV options, better charging infrastructure, and rising participation from major automakers, alongside increased consumer interest driven by fuel supply uncertainties linked to the West Asia crisis. Iran war pushes farmers toward fertiliser alternatives Farmers across regions are turning to organic alternatives like manure and compost as geopolitical tensions disrupt fertiliser supply chains. With the Gulf supplying about 30% of global chemical fertiliser and prices rising nearly 50%, concerns over food security are intensifying. The crisis, experts say, could accelerate a long-term shift toward natural fertilisers, which reduce import dependence while improving soil health and lowering emissions. Centre tweaks fuel export levies amid supply concerns The government has revised export levies on petrol, diesel and aviation turbine fuel for the fortnight starting June 1, aiming to safeguard domestic availability amid the ongoing West Asia crisis. While petrol levies have been reduced, diesel and ATF duties remain elevated. The move continues India's strategy of discouraging exports during supply shocks, with rates reviewed every two weeks. FPIs extend selling streak, but outflows ease Foreign portfolio investors remained net sellers in Indian equities for a third straight month, pulling out ₹32,963 crore in May. However, selling pressure showed signs of easing toward the end of the month, with intermittent inflows in the final trading sessions. Domestic institutional investors helped cushion the impact, supporting market stability despite continued global uncertainty. (Research and VO: Siddharth Mathew Cherian)

Govt in damage control over NEET leak, CBSE evaluation row Facing mounting criticism over the NEET paper leak and anomalies in CBSE Class XII answer-sheet evaluation, the government on Thursday sought to signal a more serious and coordinated response, with Education Minister Dharmendra Pradhan publicly owning responsibility for the controversies. Parallelly, Defence Minister Rajnath Singh chaired a high-level meeting attended by the Education Minister, Communication Minister Jyotiraditya Scindia and top officials, where measures were discussed to ensure that paper leaks do not take place in the NEET re-examination on June 21. A proposal to involve the Indian Air Force in transporting question papers for enhanced security was also discussed in the meeting. “We are taking a ‘whole of government' approach to ensure the integrity of the examination process, in which all departments are involved. The examination papers were transported by the Postal Department, and the possibility of the Air Force being used for transporting papers was discussed,” Dharmendra Pradhan told a TV channel. The long wait for the chair: Inside DKS and Siddaramaiah's political journeys From education to politics now. Socialist stalwart Siddaramaiah steps down as Karnataka Chief Minister after long political career The meeting with the Congress high command on May 27 turned out to be the moment D.K. Shivakumar had long waited for. By May 28, Friday, Shivakumar and then Chief Minister Siddaramaiah jointly announced to the world that the latter had tendered his resignation, ending months of speculation over Karnataka's most closely watched power equation. Earlier in the day, the two leaders shared breakfast and exchanged warm hugs — visuals carefully crafted to signal a smooth handover rather than a bitter succession battle. Born Doddalahalli Kempegowda Shivakumar on May 15, 1962, in Kanakapura to a well-to-do family, the Vokkaliga strongman first entered politics as a student activist in the 1980s. Though he lost his debut Assembly election to heavyweight H.D. Deve Gowda in 1985, Shivakumar bounced back quickly, registering the first of what would become eight consecutive Assembly victories at the age of 27 from the erstwhile Sathanur constituency. H-1B returnees face cautious AI-led job market in India, say experts Turning to the job market now. Every time the US and its immigration authorities tighten visa procedures, apprehensions rise among scores of techies on H-1B and other employment visas, with many calls for them to return to India and tap opportunities in the growing economy. However, tech executives and HR specialists caution that H-1B returnees are now facing a cautious Indian tech job market amid an AI-led shift. Even as the number of Indian tech professionals returning from the US rises, India's current hiring environment may not be ideal for large-scale absorption of H-1B talent, especially in traditional IT services and product roles, experts say. Kamal Karanth, Co-founder of specialist staffing firm Xpheno, says that considering the current dynamics and trends of active demand in the Indian job market, this is definitely not the best of times for US-settled H-1B talent to return to India. Vi launches equality pitch after Airtel Priority backlash And finally, on the telecom front. Following criticism of Bharti Airtel's launch of Priority Postpaid, Vodafone Idea, or Vi, has launched a social media campaign promising equal network access to all its users. Stating that customer-first monetisation is paramount for India's digital growth, Vi stressed the need to be transparent and “most of all remain inclusive.” The debt-ridden firm has started an online campaign encouraging people to “change to Vi,” accompanied by slogans like “No more, no less but equal network to all” and “Strong Network. Sabka Haq.” The telecom company said that everyone is a priority with Vi, which has added over 2,20,000 new towers, expanded Vi 5G in over 110 cities, and introduced AI-based self-optimizing network technology that intelligently adapts to help deliver stronger connectivity — even in crowded areas. “A stronger network should feel strong for everyone, everywhere,” said the Vi poster. Earlier this week, Vi had responded to the government's call for submissions regarding network slicing's impact on net neutrality by urging the government to hold consultations. (Research and VO: Siddharth Mathew Cherian)

The Supreme Court on Wednesday upheld retrospective levy of 28 per cent GST on online gaming companies. The court also clarified that final decision in the matter is left to the concerned GST authorities. At the same time, it also upheld the laws enacted by Tamil Nadu and Karnataka criminalising online games played for money or stakes, including games such as rummy, poker and fantasy sports. A Bench of Justices J B Pardiwala and R Mahadevan said, quote: “The online gaming operators are not mere facilitators or intermediaries, but are suppliers of actionable claims amenable to GST.” End quote. Accordingly, the levy of GST on the supply of actionable claims arising from betting and gambling is constitutionally valid, it said, while setting aside a Karnataka High Court judgment. The case arose from GST notices issued to real-money gaming companies on the basis that 28 per cent tax was payable on the full face value of bets or contest entry amounts, and not merely on the platform fee or gross gaming revenue. The gaming industry's case was that GST could only be levied on gross gaming revenue, which is the amount retained by platforms after deducting winnings. The Supreme Court ruling, which comes after over one lakh crore rupees worth of showcause notices issued to gaming companies, is expected to put pressure on their margins, with survival likely to hinge on aggressive cost rationalisation and rapid business model adaptation. Meanwhile, in a move aimed at turning the country's vast ration distribution network into a technology-driven welfare platform, the Cabinet Committee on Economic Affairs on Wednesday approved continuation of the SARTHAK-PDS scheme for another five years with a central outlay of 25,530 crore rupees. The revamped scheme seeks to modernise the public distribution system by bringing together foodgrain logistics, beneficiary management and grievance redressal on a single digital architecture, while also easing the financial burden on States for transporting grains to ration shops. Information and Broadcasting Minister Ashwini Vaishnaw said the scheme covers the entire supply chain, from identification of beneficiaries and movement of foodgrains to citizen feedback mechanisms and reduction in transportation delays. The scheme will run till March 31, 2030. In the aviation sector, Air India will reduce up to 22 per cent of its domestic flights amid rising operational costs due to high fuel prices, according to sources. The loss-making airline, which is facing financial headwinds, has already reduced international flights by around 27 per cent. Air India operates around 4,400 weekly flights. Out of these, about 3,600 are domestic and 800 are international services. In a statement, the airline said that, in continuation of previously announced adjustments to select international services between June and August 2026, it has temporarily rationalised operations on certain domestic routes during the same period, with a reduction in frequencies on select routes. Sources indicate that 20 to 22 per cent of domestic flights will be reduced, with the airline citing the sustained impact of high fuel prices on overall operations. And on the global front, as tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, according to Iranian state media. With President Trump convening senior officials to finalise a potential agreement, the proposal offers a roadmap for restoring stability in the vital Strait of Hormuz while navigating the complexities of regional military presence. According to Iran's state television, the preliminary document outlines a multi-layered peace process designed to wind down hostilities and address key economic and security concerns. Under the proposal, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within 30 days. Transit would be managed by Iran in coordination with Oman, though the current draft reportedly excludes US military vessels from this specific transit framework.

CBSE OSM security flaw exposed; IIT-M steps in for system audit A young ethical hacker, Nisarga Adhikary, has uncovered a serious vulnerability in CBSE's new On-Screen Marking (OSM) system, part of its Digital India push. Developed by Hyderabad-based Coempt EduTeck Pvt Ltd, the platform was so poorly secured that unauthorized users could potentially access and alter scanned Class 12 answer sheets. Adhikary reported the flaw to CERT-In on February 25, 2026, but received only a generic acknowledgement and saw no corrective action for months. He eventually went public with the issue in a May 22 blog post, also highlighting institutional apathy. Amid growing concerns over glitches and weak access controls, a team from IIT Madras is now in Delhi conducting a third-party audit of the system. IIT-M director V. Kamakoti said the review will help identify what went wrong and guide fixes. Quad to mobilise $20 bn to strengthen critical minerals supply chain Countering China's tight grip on global supplies of critical minerals, Quad partners India, the US, Australia, and Japan have signed a framework to mobilise up to $20 billion to strengthen supply chains across mining, processing, and recycling. “The Quad partners intend to support the development of secure critical minerals supply chains, which are essential for advanced technologies, economic growth, and the resilience of our industrial bases,” a statement on the `Quad critical minerals initiative framework' issued by the MEA on Tuesday said. The four countries intend to work together to use economic policy tools and coordinated investment to accelerate the development of diversified and fair critical mineral markets and support the supply of critical minerals that are crucial to our region's economic growth and security, it added. The framework was finalised at the Quad Foreign Ministers' meeting in New Delhi hosted by External Affairs Minister S Jaishankar and attended by Foreign Minister of Australia Penny Wong, Foreign Minister of Japan Toshimitsu Motegi, and US Secretary of State Marco Rubio. Airtel Priority sparks parliamentary scrutiny over net neutrality and equal access Amid a growing debate triggered by the launch of Airtel Priority post-paid plan, a Parliamentary panel on Tuesday asked the Department of Telecommunications (DoT) and the Telecom Regulatory Authority of India (TRAI) to study the impact of 5G network slicing services in countries such as Singapore and the UK, while also examining whether the interests of India's largely prepaid mobile subscriber base are adequately protected. The Standing Committee on Communications and Information Technology, headed by BJP MP Nishikant Dubey, also decided to call major digital and social media companies, including Meta, X, Google and Amazon, for discussions on net neutrality and preferential access practices. The meeting was convened to review “Quality of Service (QoS) Standards and Consumer Protection in Telecom Sector,” with a specific focus on net neutrality, reports Shishir Sinha. India's bank education loans record decade-high 15% jump to ₹8.58 lakh crore in FY26 Rising tuition fees, growing overseas education aspirations, and wider lender participation pushed education loans from banks to their sharpest annual growth in a decade in FY26. Outstanding education loans from banks rose nearly 15 per cent year-on-year to ₹8.58 lakh crore in FY26 from ₹7.46 lakh crore in FY25, according to data from Reserve Bank of India's latest bulletin. The loan book had contracted in FY22 and FY23 before recovering in the last two fiscals. Experts attributed the rise to increasing education costs, rupee depreciation, and a growing willingness among families to finance higher education through borrowings, writes Yashaswani Chauhan. (Research and VO: Siddharth Mathew Cherian)

Petrol, diesel prices raised by over ₹2.50/litre in fourth hike in 10 days Fuel prices have gone up again, with state-run oil companies raising petrol prices by about ₹2.61 per litre and diesel by around ₹2.71 per litre. This is the fourth hike in just ten days, taking the total increase since May 15 to roughly ₹7.50 per litre. Petrol now costs over ₹102 per litre in Delhi and nearly ₹108 in Chennai, while diesel prices are nearing ₹100 per litre in several cities. Fertiliser subsidy expected to exceed ₹3 lakh crore in FY27 if geopolitical tensions continue India's fertiliser subsidy bill could cross ₹3 lakh crore this financial year, far above the Budget estimate of ₹1.71 lakh crore. Officials say rising global prices of fertiliser inputs, driven by the West Asia crisis, are sharply increasing costs. There are also concerns that disruptions to key shipping routes such as the Strait of Hormuz could push the subsidy burden even higher during the upcoming Rabi season. Nirmala Sitharaman says Modi's call to conserve forex ‘very important' Amid rising fuel and fertiliser costs, Finance Minister Nirmala Sitharaman has called for greater focus on what she described as the “three Fs” — fuel, fertiliser and forex. Speaking at an event hosted by SIDBI, Sitharaman said India's economy remains resilient despite global uncertainty, but warned that high crude oil, fertiliser and gold prices are creating pressure on the economy and foreign exchange reserves. Privacy concerns grow as firms use human recordings to train AI Privacy concerns around artificial intelligence are growing after reports that domestic services startup Pronto used in-home recordings to help train robotics and AI systems. Experts say India's evolving data protection laws still leave major grey areas around consent and the commercial use of personal recordings captured inside homes and workplaces. The controversy has sparked wider debate over the growing use of “first-person” human activity data to train AI systems. Pronto said participation in the pilot programme was voluntary and limited to a small fraction of customers, while rivals including Urban Company and Snabbit have publicly distanced themselves from similar practices. Report by Meenakshi Verma Ambwani.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

From the Strait of Hormuz disruption and rising fuel prices in India, to Flipkart's likely GST legal challenge and new NTA appointments amid the NEET-UG probe—here are today's key business, energy, and governance updates.

From US-China discussions on the Strait of Hormuz and global energy security, to India's wholesale inflation hitting a 42-month high, Inox Clean Energy's $750 million US solar manufacturing expansion, and the government's immediate sugar export ban amid tightening domestic supply—here are today's key business, energy, trade, and macroeconomic updates. Tune in for clear insights on global geopolitics, inflation trends, energy markets, corporate expansion, and India's evolving trade and industrial policy landscape shaping today's economy.

From higher import duties on gold, silver and platinum, to a ₹37,500-crore coal gasification push, Uber's India data centre with the Adani Group, and Air India cutting international routes due to high fuel costs—here are today's key business, energy and aviation updates. Tune in for clear insights on India's trade policy, energy transition, technology investments, and aviation sector changes shaping today's economic landscape.

From rising inflation driven by gold, silver and food prices, to the cancellation of NEET-UG 2026 over alleged irregularities, and India's cautious stance on sanctioned Russian LNG amid energy pressures, along with rising losses for state fuel retailers due to high crude costs—here are today's key economy and policy updates from India.

From a new political chapter in Tamil Nadu as C. Joseph Vijay takes oath as Chief Minister, to Mamata Banerjee calling for a united opposition front in West Bengal, a sharp surge in India's private capex cycle led by industry optimism, and Himanta Biswa Sarma's reaffirmation as NDA leader in Assam, here are today's key political and economic stories you need to know. Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

From a new political chapter in Tamil Nadu as C. Joseph Vijay takes oath as Chief Minister, to Mamata Banerjee calling for a united opposition front in West Bengal, a sharp surge in India's private capex cycle led by industry optimism, and Himanta Biswa Sarma's reaffirmation as NDA leader in Assam, here are today's key political and economic stories you need to know.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

In a historic shift for Tamil Nadu politics, Joseph Vijay's Tamilaga Vettri Kazhagam (TVK) has shattered the 50-year-old duopoly of the DMK and AIADMK. Emerging as the single largest party with 108 seats, the TVK still faces a deadlock as it shores up support to reach the majority mark needed to form the government. In this episode, we break down the high-stakes manoeuvring involving the multiple meetings between TVK's Vijay and TN Governor Rajendra Vishwanath Arlekar, and TVK's request for support to the smaller parties. Discover why the Dravidian model is facing its greatest challenge yet and what the next 24 hours could hold for the future of Tamil Nadu.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.

Welcome to The Morning Report, brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.

A security scare briefly disrupted a high-profile political gathering in Washington, forcing evacuations and an abrupt halt to proceedings. President Donald Trump was uninjured after a reported shooting scare at the White House Correspondents' Dinner. Authorities evacuated top US leaders following an unspecified threat, with one law enforcement official suggesting a shooter may have opened fire. The incident remains unclear and the event has been postponed. Read more In aviation news, a safety incident at Delhi airport led to an emergency evacuation during takeoff operations in the early hours of Sunday. A Swiss International Air Lines aircraft was forced to reject takeoff after an engine issue. The Airbus A330, carrying over 200 passengers, was evacuated using emergency slides. Six passengers were taken for medical evaluation, while crew and others were safe. Read more On the economic front, India is set to deepen trade ties with New Zealand through a long-anticipated agreement. India and New Zealand will sign a free trade pact on April 27 aimed at doubling bilateral trade and expanding market access for Indian exporters. The deal is also expected to bring in long-term investment inflows. Read more Meanwhile, India's top policy advisory body has been reshaped with new leadership appointments. The government has appointed economist Ashok Lahiri as Vice-Chairman of NITI Aayog, alongside four new members. The move is aimed at strengthening economic policymaking and accelerating reform priorities. Read more

In this episode of Business Line's podcast, Sanjana B speaks with Joseph Anantharaju, Co-chairman & CEO, Happiest Minds Technologies, on how the surge in enterprise AI is reshaping the IT services industry. As players like OpenAI and Anthropic roll out enterprise tools, Anantharaju argues the real opportunity lies in building customised applications on top of these models. He outlines the main barriers to adoption — fragmented data, legacy systems and security concerns — and explains why data quality and governance are now central to AI success. The conversation also looks at how AI is changing software development, pushing engineers towards design, architecture and domain expertise, while nudging firms to move from a coding-led to an outcomes-driven approach. Despite automation, he expects Indian IT to remain a major employer, with demand shifting towards modernisation, security and data-led services. (Host: Sanjana B; Producer: Siddharth Mathew Cherian.

From high voter turnouts in West Bengal and Tamil Nadu, Infosys' steady Q4 earnings performance, shifting US political rhetoric on immigration, to Singapore Airlines tightening its role in Air India's turnaround — here are today's top political, business, and international stories you need to know.

Today's top headlines: Tamil Nadu holds Assembly elections today with sharp candidate wealth gaps. Tesla's Model Y L faces a pricing squeeze in India's EV market. Godrej Industries targets ₹5 lakh crore by FY31. Tensions rise in the Strait of Hormuz after a ship attack.

Today's top headlines: Amazon announces a $100 billion AI partnership with Anthropic to revolutionise cloud tech. India pushes for 100% ethanol blending to reduce oil dependence amid global tensions. Pakistan extends its airspace ban on Indian aircraft, escalating regional tensions. The IMO prepares a plan for evacuating ships stuck in the Persian Gulf due to ongoing conflicts. Stay updated on: India's energy future, global AI investments, international airspace issues, and maritime security in the Persian Gulf.

Today's top headlines: HPCL's Rajasthan refinery dedication by PM Modi is postponed after a fire. The RBI rolls back some restrictions on rupee derivative trades while maintaining a cap on positions. Mehli Mistry challenges Tata Trusts' move to amend the Bai Hirabai Trust deed. India and South Korea begin talks to upgrade their economic pact, focusing on trade and technology. Stay updated on: India's energy sector, RBI policies, Tata Trusts governance, and India-South Korea relations.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Mehli Mistry, who stepped down from the Tata Trusts as a Trustee in November last year after being denied reappointment, has called for an Administrator to be appointed to run the Sir Dorabji Tata Trust (SDTT). He has also declared that he has no desire to rejoin the board of the trust. In a filing today before the C harity Commissioner, Mumbai, seen by businessline, Mistry alleged grave illegalities in the administration of the Trust by the Board of Trustees which now comprises of Noel Tata (Chairman), Venu Srinivasan (Vice Chairman), Vijay Singh, Darius Khambatta, Bhaskar Bhat and Neville Tata. The last two were appointed in place of Mehli Mistry and Pramit Jhaveri, who stepped down in February. Objecting to the Change Report filed by the Trust after his exit and the entry of new trustees, Mistry has contested his non-renewal as a trustee, arguing that it violates a 2024 resolution for mutual perpetual reappointments among trustess of SDTT and the other major trust, Sir Ratan Tata Trust, reports Raghuvir Srinivasan. —————— India's markets regulator, Securities and Exchange Board ⁠of India (SEBI), will allow companies ​to cut the size of IPOs by as ⁠much as 50% without filing additional onerous paperwork as the Iran war has made it hard to follow through with initial plans, according to an email seen ‌by Reuters. Current rules stipulate that initial public offering documents need to be refiled if the planned fund-raising amount increases or decreases ‌by 20% or more. Firms will now only have to ‌submit ⁠their revised offer size to SEBI for approval and these reviews will be fast-tracked, the regulator said in an email sent to the Association of Investment Bankers of India. The relief will apply to issuers ​planning to raise fresh funds ‌before September 30 and will only be granted if there is no change in the main object of the issue. ————— Markets surged on Wednesday, delivering their strongest session in weeks, as geopolitical optimism, falling crude oil prices, and buoyant global cues triggered broad-based buying that left virtually no sector untouched. The BSE Sensex closed at 78,111.24, gaining 1,263.67 points or 1.64 per cent, while the Nifty 50 settled at 24,231.30, up 388.65 points or 1.63 per cent — its highest close since March 10, 2026. From its recent swing low of 22,182, the Nifty has clawed back over 2,100 points in just eight trading sessions. Volumes on NSE's cash market rose 12 per cent from the previous session, underlining the conviction behind the move. The single biggest catalyst was US President Donald Trump signalling that Washington and Tehran may be heading back to the negotiating table, with talks potentially resuming in Pakistan within days, describing the conflict as “close to being over.”, writes Anupama Ghosh. ------ India's merchandise exports grew by over 4 per cent in the 2025-26 fiscal year, though the overall trade deficit widened by more than 26 per cent for the full year, according to data released by the Commerce Ministry on Wednesday. Despite the annual expansion of the gap, the trade deficit narrowed in March as both exports and imports saw a synchronized dip during the final month of the fiscal year. Commerce Secretary Rajesh Agrawal said India's exports are doing well despite challenges. The country's merchandise exports during April-March 2025-26 went up 1 per cent to $441.78 billion from USD 437.7 billion. Imports also increased to $774.98 billion during the period from $721.2 billion in 2024-25. Services exports are estimated at $418.31 billion in 2025-26, showing a growth of around 8 per cent, reports Shishir Sinha.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Get today's top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

Today's top headlines: India's oil marketing companies cut refinery transfer prices to manage losses from frozen fuel rates. The Gujarat High Court issues a strict AI policy banning judicial use of AI in decision-making and judgment writing. US President Donald Trump announces 100 percent tariffs on select pharmaceutical imports, with limited impact on Indian generic drug makers. Meanwhile, 345 Tamil Nadu fishermen stranded in Iran are safely repatriated to Chennai. Stay updated on: India's energy sector and fuel pricing, judicial policy and AI regulation, US-India trade and pharmaceutical updates, and humanitarian developments affecting Tamil Nadu fishermen.