Business & Economy

Gold and silver prices witnessed a sharp decline on Friday, bringing significant relief to buyers after both precious metals recently touched record highs. The fall was visible across the Multi Commodity Exchange (MCX) as well as domestic bullion markets, marking one of the steepest single-day corrections in recent months. On the MCX, silver prices slipped below ₹3 lakh per kilogram, while gold fell under the ₹1.50 lakh mark per 10 grams. The sudden drop came as a surprise to investors, given the strong rally seen earlier amid global economic uncertainties. Sharp Correction from Record Highs Gold has seen extreme volatility this year. Its highest level stood at ₹1,80,779 per 10 grams, while the lowest was ₹1,49,075 per 10 grams. From its peak, gold has now declined by nearly 17.5%...

New Delhi: India’s rapidly growing aviation sector is taking a significant step toward sustainability as Indian Oil Corporation (IOC) and Akasa Air ink a major agreement to supply Sustainable Aviation Fuel (SAF). This eco-friendly fuel is designed to reduce environmental impact compared to conventional jet fuel. A Strong Move Towards Green FuelGlobally, airlines and fuel suppliers are actively preparing for a low-carbon future. In line with this trend, IOC and Akasa Air have signed a Letter of Intent (LOI) during Wings India 2026 in Hyderabad. The agreement lays the groundwork for sourcing and supplying SAF to help Akasa Air meet its sustainability goals. With India’s aviation market expanding rapidly, airlines face increasing pressure from regulators, investors, and customers to low...

New Delhi: Bank employees across India are set to participate in the nationwide general strike and roadblocks scheduled for 12 February 2026. This comes as central trade unions and farmer organizations protest against the government’s recently introduced four new labor codes and other labor policies perceived to be anti-worker. The All India Bank Employees’ Association (AIBEA) has officially extended support to the strike. Bank officers’ organizations, including the All India Bank Officers’ Association (AIBOA) and Bank Employees Federation of India (BEFI), have also urged their members to join. Consequently, most public sector banks are expected to remain closed on that day. Who Called the StrikeLeading trade unions, such as the Centre of Indian Trade Unions (CITU), All India Trade U...

Mumbai: India’s foreign exchange reserves have surged to an all-time high just ahead of the Union Budget 2026, breaking previous records and giving a major boost to the government’s economic confidence. According to the Reserve Bank of India (RBI), during the week ending 23 January 2026, the country’s forex reserves rose by $8.053 billion, taking the total reserves to $709.413 billion. This comes on the back of a $14.17 billion increase the previous week. The earlier record of $704.885 billion, set in the week ending 27 September 2024, has now been surpassed. Gold accounted for the largest share of this surge. Foreign Currency Assets (FCA) See Strong GrowthRBI data also showed a significant rise in India’s Foreign Currency Assets, a key component of the total reserves. During the wee...

New Delhi: YouTube has transformed countless lives, offering not just fame but substantial wealth. Among these success stories is 26-year-old Sourav Joshi from Uttarakhand, who now earns over ₹1 crore annually from his YouTube channel. Humble BeginningsSourav was born into a typical middle-class family. His father, Harinder Joshi, worked as a carpenter and frequently moved across cities in search of stable employment. This meant Sourav had to change schools multiple times, with much of his schooling completed in Hisar, Haryana. After finishing 12th grade and facing early life challenges, he returned home and began sketching and drawing. Encouraged by his brother, he launched his YouTube channel in 2017. Early Struggles on YouTubeStarting out was far from easy. Sourav experimented wit...

Mumbai: In a major development for India’s capital markets, the Securities and Exchange Board of India (SEBI) has granted approval to the National Stock Exchange (NSE) for its long-awaited Initial Public Offering (IPO). The move opens the door for the exchange to go public in the coming months. SEBI Clearance ReceivedYesterday, NSE received a no-objection certificate (NOC) from SEBI, marking a significant milestone for the country’s largest stock exchange by trading volume. NSE has been preparing for a public listing for over a decade, facing regulatory scrutiny and governance challenges along the way. In the interim, the exchange has improved its operations and governance standards significantly. NSE StatementShri Srinivas Injeti, Chairperson of NSE, said, “We are delighted to recei...

Union Budget 2026: Finance Minister Nirmala Sitharaman will present the Union Budget 2026 tomorrow, February 1. This will mark her record ninth consecutive budget. The presentation is scheduled for 11 AM in Parliament. Key Expectations: The salaried class may see renewed income tax relief. Businesses hope for GST concessions. The budget will be accessible to the public via the ‘Union Budget Mobile App’ in both Hindi and English, reflecting the government’s focus on transparency and outreach. Increased defence spending could boost defence stocks. Stock Market Will Remain Open on Budget DayIn line with tradition, the stock market will remain open on Sunday, February 1, 2026, for a regular trading session from 9:15 AM to 3:30 PM. However, since it is a settlement holiday, ...

From tomorrow, February 1, several rules and prices that directly impact daily life will come into effect. These changes cover items and services ranging from LPG and CNG to FASTag, cigarettes, and credit cards. New Delhi: With the Union Budget 2026 set to be presented tomorrow, February 1, several other updates will also take effect. Households should be prepared for potential price adjustments and regulatory changes impacting everyday expenses. Here’s what you need to know: 1. LPG Cylinder PricesOil companies review LPG prices on the first of every month. As a result, the cost of domestic LPG cylinders may rise or fall from February 1. For instance, the 19-kg commercial cylinder has seen frequent fluctuations; last month, its price was reduced by ₹14.50. 2. CNG, PNG, and Aviatio...

Investment Trends: Indian investors are changing the way they save and invest. According to the Reserve Bank of India (RBI), traditional instruments like fixed deposits (FDs) are seeing declining interest, while equities and mutual funds are gaining traction. New Delhi: In 2020, the web series Scam 1992 captured the rise and fall of Harshad Mehta, with actor Pratik Gandhi portraying the infamous stock market king. One dialogue that stood out—“If you love, you must take risks”—was delivered when the character ventured into the stock market. Today, a similar trend is visible among Indian investors. The RBI reports that more Indians are now willing to invest in the stock market. While equities carry higher potential returns, they also come with higher risks. Investors seeking bigger gai...

The Union Budget 2026 is set to be presented tomorrow, February 1. The cryptocurrency industry is hopeful that the government may offer tax relief or other measures to support crypto investors. Taxation on Cryptocurrency New Delhi: Despite the extreme volatility in cryptocurrency markets, interest in digital assets continues to grow in India. However, unclear regulations and heavy taxation have made investing in cryptocurrencies and Virtual Digital Assets (VDAs) both challenging and expensive. With Budget 2026 around the corner, the crypto community has high expectations. Investors, industry experts, and tax professionals alike are hoping for a more investor-friendly approach. The key question remains whether the upcoming budget will bring a turning point in crypto taxation or mai...