Business & Economy

Rising Loan Defaults Among Youth: India is witnessing a surge in loan defaults, with the younger generation increasingly caught in a web of debt. Alongside rising loan delinquencies, cases of cheque bounces are also climbing sharply. Young Borrowers Take on Massive DebtAccording to reports, hundreds of young adults aged 25–35 are falling into debt traps every month. The so-called Zoomers, born between 1997 and 2012, are the first generation to accumulate such high levels of borrowing. Unlike previous generations, for whom taking loans was largely taboo, many Gen Z borrowers are taking loans up to 100 times their monthly salaries—earning ₹30,000–₹40,000 per month while borrowing ₹30–40 lakh. The main reason is the growing gap between income and expenditure, which borrowers try to bridge ...

From IT Professional to Dairy Entrepreneur: Deepak Raj Tushir, originally from Janti Khurd village in Sonipat district, Haryana, has stunned many with his remarkable journey from IT to dairy farming. After a successful 10-year career at Wipro, he decided in 2012 to leave the corporate world to pursue his passion for agriculture and contribute to his village’s development. Today, his dairy venture, Binsar Farms, has crossed a turnover of ₹23 crore, establishing him as a prominent name in the dairy industry. Education and VisionTushir holds a BE in Information Technology and an MBA. Partnering with two fellow computer engineers and two farmers from New Zealand, he co-founded Binsar Farms. Their goal was to provide high-quality milk while promoting modern farming practices in rural India. ...

Stock Market Update: Dalal Street witnessed a bullish trend last Friday, with both benchmark indices closing higher. The BSE Sensex, comprising 30 stocks, gained 316.57 points to settle at 82,814.71, while the NSE Nifty rose 116.90 points to close at 25,571.25. Stocks to Watch on 23 February:The market saw renewed optimism on Friday, supported by buying activity in banking and metal stocks, progress in trade agreements, and reports of India’s participation in Pax Silica. The Sensex surged during intraday trade to a high of 83,132.08 before closing at 82,814.71, up 0.38%. Similarly, the Nifty touched a peak of 25,663.55 points before ending the day at 25,571.25, marking a 0.46% gain. Among Sensex constituents, NTPC, Larsen & Toubro, Hindustan Unilever, PowerGrid, Tata Steel, Kotak...

New Delhi: The US Supreme Court recently struck down President Donald Trump’s global tariff orders, citing the International Emergency Economic Powers Act (IEEPA) as misused. Trump had relied on IEEPA to implement tariffs, but the court ruled that the authority to impose tariffs lies with Congress, not the President. The ruling affects tariffs imposed after February 2025. What is IEEPA? The International Emergency Economic Powers Act (IEEPA), enacted in 1977, grants the US President authority to regulate economic transactions during national emergencies involving foreign threats. The law empowers the President to: Control imports and exports Freeze or block foreign assets Regulate financial transactions and banking Limit foreign investments Enforce economic decisions ...

New Delhi: India is set to import the highest volume of crude oil from Saudi Arabia in six years this February, overtaking Russia temporarily. The shift comes amid US pressure on India to reduce purchases of Russian oil. Record Imports from Saudi Arabia According to reports, India’s crude oil imports from Saudi Arabia in February reached approximately 1–1.1 million barrels per day (bpd), the highest since November 2019. On 20 February, data from global analytics provider Kpler indicated that Saudi shipments touched 1.3 million barrels, surpassing Russia’s roughly 1.1 mbd. Historically, Saudi Arabia ranked third or fourth among India’s crude suppliers, behind Russia, Iraq, and the UAE. Russian Supply Declines After Russia’s invasion of Ukraine in 2022, India became a major buyer...

New Delhi: Following a major setback for US President Donald Trump by the US Supreme Court, the tariff rates on India have now been revised. India will now face only a 10% US tariff temporarily, replacing the earlier 18% rate. New Global Tariff Order The Trump administration has issued a new global tariff order, which will temporarily impose a 10% duty on India. This move comes after the Supreme Court struck down tariffs based on the International Emergency Economic Powers Act (IEEPA). A White House official clarified that the 10% tariff replaces the recently invalidated IEEPA-based duties. Earlier this month, following an interim trade framework agreement between India and the US, tariffs on India were reduced from 25% to 18%. With the new order, the White House confirmed that, t...

New Delhi: The Indian government has taken a strict stance against the online sale of anti-drone systems, drone jammers, and GPS jammer devices. The Central Consumer Protection Authority (CCPA) has issued notices to six e-commerce platforms and companies for allegedly providing misleading information and failing to comply with regulations. Companies Asked for Detailed Information The CCPA has asked platforms including Everse, Indiamart, Xboom, Javiat Aerospace, AirONE Robotics, and Maveric Drones & Technologies Pvt Ltd to provide detailed information about the sourcing and sale of these devices. The companies must submit import licenses, purchase receipts, and other necessary documents, along with the complete details of buyers who purchased such equipment. Allegations Against...

Mumbai: Shapoorji Pallonji Real Estate (SPRE) has announced the launch of its latest residential project, ‘Oyster’, in the prime Pokhran Road 2 area of Thane, Maharashtra. The project is part of the company’s larger ‘Northern Lights’ development spread across 4.8 acres, designed for buyers seeking a modern, high-quality lifestyle. Prime Location Advantage ‘Oyster’ is strategically located in one of Thane’s fastest-growing neighbourhoods. The area offers seamless access to major business hubs, schools, colleges, and shopping malls, making it ideal for both work and lifestyle needs. Its connectivity and developing infrastructure have made Pokhran Road 2 a highly sought-after residential address. Project Highlights According to reports from industry sources, ‘Oyster’ will feature ...

New Delhi: From a school dropout to South India’s “Flower King,” Bollapalli Srikant, founder of Vensai FloriTech, has rewritten the rules of success. At just 16, he left school due to family debts and poverty. Today, his company boasts an annual turnover of ₹70 crore, exporting flowers worldwide, proving that determination and hard work can outperform formal education. Early Struggles: Daily Wages and Hard Lessons Srikant’s journey began in 1995, when he moved to Bangalore to support his family financially. He worked 18-hour days in flower farms for just ₹1,000 per month, learning not only cultivation techniques but also marketing and sales. By the age of 18, he pooled savings and borrowed from friends to invest ₹20,000 in a small venture called Om Shri Sai Flowers, achieving a turno...

Mumbai: India’s foreign exchange reserves surged by $8.66 billion in the week ending February 13, 2026, breaking previous records and marking a strong recovery after a $6.71 billion decline the prior week. The boost comes as India receives relief following the recent U.S. Supreme Court ruling on tariffs. Dual Boost from Gold and Forex Assets Gold Reserves: The Reserve Bank of India’s (RBI) gold reserves rose by $4.99 billion, taking the total value to $128.466 billion, with physical holdings now exceeding 880 tonnes—approximately 15% of India’s total forex reserves. The increase follows a week in which international gold prices saw notable gains. Foreign Currency Assets (FCA): RBI’s FCA holdings grew by $3.55 billion, bringing the total to $573.603 billion. FCA includes U.S. doll...