Business

New Delhi: The Indian rupee plunged to a new all-time low against the US dollar on Wednesday, hitting ₹91.2950 per dollar, surpassing the previous record of ₹91.0750. Analysts attribute the sharp depreciation to rising global uncertainty following U.S. President Donald Trump’s controversial Greenland claim, coupled with foreign capital outflows and delays in an India-U.S. trade deal. This month alone, the rupee has weakened by approximately 1.5%, adding to the 5% decline experienced in 2025. Despite India’s current account deficit remaining under control, foreign investments have slowed significantly, intensifying pressure on the currency. Foreign Outflows and Market Concerns January has already seen nearly $3 billion exit the Indian market, while 2025 recorded a historic $18.9 b...

New Delhi: The Indian stock market continued its sharp decline on Wednesday, with both Sensex and Nifty tumbling in early trading. Investors saw over ₹4.5 lakh crore wiped out in just one and a half hours, marking the third consecutive day of heavy losses. The markets initially opened on a positive note, but gains were short-lived. By 11 AM, the Sensex had dropped over 1,000 points, while Nifty fell nearly 300 points. Around 10:30 AM, Sensex was trading at 81,124.45, down 1,056 points, and Nifty 50 stood at 24,989.15, down 243 points. Key Reasons Behind the Crash Trump’s Greenland RemarksU.S. President Donald Trump’s controversial statement about buying Greenland and threats of renewed trade tensions with the European Union triggered sharp selling in Asian markets. Concerns over ...

New Delhi: Gold and silver witnessed significant gains today, with gold reaching a new record high and silver trading close to its all-time peak. Internationally, gold prices crossed $4,800 per ounce for the first time, fueling strong demand for safe-haven assets amid ongoing geopolitical tensions. Why Prices RoseThe surge comes after the U.S. Supreme Court postponed any ruling on the legality of President Donald Trump’s tariffs, boosting demand for gold and silver as safe investments. Additionally, threats of tariffs related to Greenland and escalating trade tensions with European countries have further fueled investor interest in precious metals. MCX Trading UpdateOn the MCX, gold for February 5 delivery opened with a gain of over ₹7,500. By 10:22 AM, it was trading at ₹1,58,250 pe...

New Delhi: Despite sanctions imposed by Western countries, India continues to import Russian crude oil. However, Russian companies have changed the methods of delivery, and some Indian firms have stopped purchasing Russian oil altogether. Alternate Routes for SupplyFollowing the U.S. sanctions, which targeted Russian oil companies, Russia found alternative routes to maintain exports to India. Much of the crude oil arriving in India now comes from smaller traders who previously rarely supplied the country. This shift was primarily due to a significant reduction in volumes from Russia’s major oil company, Rosneft. According to shipping data provider Kpler, nearly 43% of Russian oil imports to India in the first half of January 2026 (about 0.5 million barrels per day) came from five such s...

New Delhi: Bank lockers have become a common facility, with many customers using them to store important documents, jewelry, and other valuables. But what happens if you lose your bank locker key? The process to access your locker in such cases can be long and costly, say bank officials. Bank GuidelinesLosing a locker key does not compromise the security of your valuables. However, it can create inconvenience since you will not be able to access your locker until the matter is resolved. Importantly, banks do not keep duplicate keys for customers. The procedure to open a locker without a key falls under RBI regulations. How Locker Keys WorkEach locker comes with two keys – one held by the customer and the other, the master key, retained by the bank. Both keys are required to open the ...

New Delhi: In a major development, India’s railways may soon see private companies taking charge of train operations. A key government committee, the Public Investment Board (PIB), has recommended involving private players across multiple fronts – from laying new tracks and improving port connectivity to procuring trains, wagons, and locomotives. While the Modi government has been encouraging private participation in railways over the past two terms, the sector has traditionally been cautious in implementing Public-Private Partnerships (PPP). Now, led by the Expenditure Secretary, the PIB has emphasized the need for private investment in railway projects. Private Models for Rail ProjectsThe committee suggested using government budgetary support to attract private players in multi-tra...

New Delhi: India is emerging as a preferred destination for global investments, securing the second spot among CEOs worldwide after the United States, according to a recent PwC survey. Germany and the UK also feature on the list, with China ranking fifth. Rising Popularity Among CEOsThe survey indicates that by 2026, 13% of global CEOs plan to invest in India, up from 7% in 2025. Meanwhile, 35% of CEOs still consider the U.S. their top choice. India’s improved investment climate is credited to government reforms such as the Goods and Services Tax (GST) and Production-Linked Incentive (PLI) schemes, which have strengthened business confidence. Tariff Concerns Remain LimitedOnly 11% of CEOs see tariffs as a significant risk to their operations in India, despite the U.S. imposing up to ...

New Delhi: The world is watching closely as India and the European Union (EU) move toward finalizing a historic Free Trade Agreement (FTA). The formal announcement of the deal is expected on 27 January 2026, a day after India’s Republic Day celebrations, with top EU leaders attending as chief guests. Europe Calls It the “Mother of All Deals”Ursula von der Leyen, President of the European Commission, said the EU is very close to finalizing the FTA with India. Addressing the World Economic Forum in Davos, she referred to the deal as “the mother of all deals” and emphasized Europe’s desire to expand trade and cooperation globally. Creating a Market of 2 Billion PeopleVon der Leyen highlighted the scale of the proposed agreement, which would create a market for 2 billion people, represen...

New Delhi: India’s leading fintech company, PhonePe, is preparing to launch its Initial Public Offering (IPO) and give investors an opportunity to participate in its growth story. The IPO is expected to raise approximately ₹12,000 crore (USD 1.3 billion) and has already received regulatory approval from SEBI. Owned by Walmart, PhonePe’s IPO could become the second-largest market debut by an Indian startup. The funds raised will come through an Offer for Sale (OFS), meaning existing shareholders – including Tiger Global, Microsoft, and Walmart – will sell their shares, and the company itself will not raise any fresh capital. PhonePe had submitted its IPO application confidentially last September and will soon file an updated draft prospectus with SEBI. IPO Timeline and Company Overvie...

Bengaluru: A Bengaluru-based couple left their corporate jobs to start a vintage saree business that evokes the nostalgia of “grandma’s wardrobe.” Founded in 2021, Nerige Story now generates a monthly revenue of ₹1 crore. Pooja Nadig and Shashank Sivapurapu noticed a gap in the modern fashion landscape, where contemporary saree designs were increasingly losing the emotional and cultural connection of traditional handlooms. With this insight, they launched Nerige Story – “Nerige” meaning “pleats of a saree” in Kannada. The venture reflects more than just a business; it is a story of courage, creativity, and returning to roots. Pooja, a former software tester at TCS, and Shashank, an MBA graduate, started the business with a savings of ₹3 lakh. Today, the brand has not only gained reco...