Business & Economy

The Delhi Development Authority (DDA) is introducing a new system of weekly public hearings to address issues faced by residents of DDA flats, many of which date back decades. DDA Housing Deputy Director Chinmay Chakravarty issued a circular announcing that these hearings will provide a platform for residents to raise concerns related to flat maintenance, housing pockets, security, and other infrastructure issues. The hearings will be conducted by site engineers along with the in-charges of various housing pockets. They will listen to grievances and ensure timely resolution. The public hearings will take place every Wednesday from 2:30 PM to 4:30 PM. Site engineers and housing pocket in-charges are required to maintain detailed records of issues raised and participants attending the ...

Good news for Delhi residents planning to buy electric vehicles (EVs): the Delhi government is considering a subsidy scheme for converting old cars into EVs under its upcoming EV Policy 2.0. The initiative aims to promote electric mobility while providing financial relief to the middle class. Under the proposal, diesel cars older than 10 years and petrol cars older than 15 years can be retrofitted into electric vehicles. Owners could receive incentives of over ₹50,000. Since retrofitting currently costs between ₹2–3 lakh, the government plans to provide subsidies for the first 1,000 vehicles. Investments in R&D could further reduce the cost, making it viable to upgrade old cars rather than scrap them. To encourage EV adoption, the government may also provide up to 5% subsidy on e...

Success often comes to those who persevere, and IIT Kanpur graduate Ankush Sachdeva is a perfect example. Despite holding a degree in computer science, Ankush did not join a major corporate firm. Instead, he faced 17 consecutive failures over several years, working on ideas ranging from e-commerce to utility services—all of which failed. Yet, he never gave up. These setbacks eventually led him to a major opportunity that the tech world had largely ignored. In 2015, Ankush, along with his IIT Kanpur friends Fareed Ahsan and Bhanu Singh, started exploring opportunities for India’s underserved internet users. They noticed that people in smaller towns and villages were increasingly going online, but there were no apps in their local languages. Mainstream platforms failed to engage them. Thi...

India’s foreign exchange reserves saw a significant jump for the first time in 2026, crossing the $700 billion mark in a single week. For the week ending 16 January, reserves increased by $14.17 billion, with gold holdings also seeing a substantial rise. According to data released by the Reserve Bank of India (RBI) on Friday, the country’s total forex reserves climbed to $701.36 billion, up from a marginal increase of $392 million in the previous week. The previous record high of $704.885 billion was recorded during the week ending 27 September 2024. Foreign Currency Assets SoarDuring the same week, India’s Foreign Currency Assets (FCA) rose sharply by $9.652 billion, reversing a $1.124 billion decline from the prior week. FCA now stands at $560.518 billion. These assets, denominated...

Personal loans are increasingly becoming a financial lifeline for Indians, but not necessarily for vacations or education. According to a consumer research report titled “The Personal Loan Story” by Paisabazaar, the majority of personal loans in India are taken out to cover medical emergencies. The survey found that 11% of Indians borrow to pay for medical treatments and emergencies, with this figure rising to 14% in Tier-1 cities like Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad. In Tier-2 cities, the percentage stands at 10%, and in Tier-3 cities at 8%, highlighting the rising healthcare costs and limited health insurance coverage. Other Reasons for BorrowingBeyond healthcare, personal loans are also used for essential household needs, sudden repairs, or lifestyle enha...

The upcoming Union Budget, to be presented by Finance Minister Nirmala Sitharaman on 1 February 2026, may bring some relief for the middle class. Reports suggest that the standard deduction for salaried and pensioners could be increased from the current limit to ₹1.25 lakh. The standard deduction is a fixed amount directly subtracted from gross income, reducing the taxable income and, in turn, the tax liability. Currently, under the old tax regime, the standard deduction stands at ₹50,000, while the new tax regime raised it to ₹75,000 in 2024. With the government encouraging more taxpayers to adopt the new tax system, any increase in standard deduction is expected to apply primarily there. Experts are advocating for the hike. Manas Chugh, Director at Osgan Consultants Pvt. Ltd., sugg...

Silver continues to hit new highs this year, trading at around ₹3.34 lakh per kilogram on the Multi Commodity Exchange (MCX). The sharp rally has raised concerns among domestic jewellers and bullion traders. After a brief dip on Thursday, silver prices bounced back on Friday. By 8 PM, MCX silver contracts were up over ₹6,000, trading near ₹3.34 lakh per kg. The All India Jewellers & Goldsmith Federation (AIJGF) expressed worry over the sudden surge, claiming that silver deals were being executed at roughly ₹40,000 per kg above prevailing market rates. A letter highlighting these concerns was sent to Finance Minister Nirmala Sitharaman, signed by AIJGF President Pankaj Arora and General Secretary Nitin Kedia. The federation linked this “sudden and sharp disruption” to rumours abou...

Adani Power, part of the Adani Group, has successfully raised ₹7,500 crore through the issuance of Non-Convertible Debentures (NCDs) to major domestic investors. The funding round saw participation from 15 institutional investors, including SBI Mutual Fund, ICICI Bank, Axis Bank, Kotak Mutual Fund, and Tata Mutual Fund. In total, 17 entities, including 10 mutual fund houses, contributed to the fundraise. Sources reported that SBI Mutual Fund invested ₹2,500 crore, ICICI Bank ₹1,100 crore, and Axis Bank ₹1,000 crore. Kotak and ICICI Mutual Funds contributed between ₹500–600 crore each. The proceeds from these NCDs will be used to repay existing debt and support general corporate activities. Market ImpactAdani Group shares faced significant declines on Friday after U.S. regulators repo...

Chennai-based global technology company Zoho Corporation has entered the Enterprise Resource Planning (ERP) software market, aiming to offer Indian businesses a comprehensive solution to manage their operations. The ERP market is currently valued at $63 billion, and Zoho seeks to compete with industry giants like Oracle and Microsoft. The newly launched integrated ERP platform is designed to help companies manage all essential functions in one place, including accounting, inventory management, sales, procurement, and employee management. Shivramakrishnan Iyer, Zoho’s Global Head of Finance and Operations, stated that existing ERP systems often have major shortcomings. “Many ERP solutions in the market are complex, expensive, and time-consuming to implement. They are typically designe...

Shares of the Adani Group came under severe pressure on Thursday, wiping out nearly ₹1.1 lakh crore in market capitalisation after several group companies plunged by as much as 13 percent during intraday trade. The sharp sell-off followed reports that the US Securities and Exchange Commission (SEC) has sought court approval to serve summons directly via email to Gautam Adani and his nephew Sagar Adani. According to a Reuters report citing court filings, the SEC has approached a US court after repeated attempts to send summons through official diplomatic channels failed. The regulator has stated that it does not expect success through conventional means and has therefore requested permission to deliver the summons electronically. Heavy Losses Across Key Adani Stocks The selling pre...