Fintech company Cashfree Payments India Private Limited has significantly reduced its consolidated net losses to Rs 118.5 crore in FY26 from Rs 154 crore in FY25. The firm also saw a substantial revenue growth of over 51 per cent, reaching Rs 967.4 crore. Co-founder & CEO Akash Sinha highlighted achieving EBITDA profitability in March 2026 and outlined plans for full-year profitability in FY27, driven by growth in SMB and cross-border payments.
Karnataka's Deputy Chief Minister G Parameshwara announced that over 200 taluks are likely to be declared drought-affected after phased assessments. The state has convened a special legislative session to discuss the crisis, farmer assistance, and seek significant financial relief and loan waivers from the Union government, while also alleging a "step-motherly attitude" from the Centre regarding fund releases.
The State Bank of India (SBI) in its latest research report said that reforms in GST through reduction in rates will cause a minimal revenue loss of Rs 3,700 crore. The government estimates the net fiscal impact of GST rates rationalisation will be Rs 48,000 crore on an annualised basis.
'The prohibition regime has been accompanied by concerns regarding the expansion of the illicit liquor trade, increased enforcement challenges and corruption, and the growing use of alternative intoxicants, including illicit drugs.'
Indian listed companies experienced their fastest revenue growth in 15 quarters during Q1FY27, with combined net sales rising 18.4% year-on-year, while net profit grew 16%, primarily driven by mining, metals, and banking sectors, despite a contraction in operating margins due to higher input costs.
The Anti-Corruption Bureau (ACB) has registered two separate First Information Reports (FIRs) against Sheeba Inayat, a Jammu and Kashmir Administrative Service (JKAS) officer. The charges include amassing assets disproportionate to her known income and alleged malpractices in the distribution of Public Distribution System (PDS) foodgrains, leading to a wrongful loss of over Rs 2.61 crore.
An intensified DVAC probe into a multi-crore liquor scam, allegedly involving former DMK Minister V Senthil Balaji, has led to a suggestion to privatise retail liquor sales in Tamil Nadu. The investigation targets alleged collusion in TASMAC bar licences, transport tenders, and procurement, with the Madras High Court dismissing Balaji's anticipatory bail plea. The FIR details systemic corruption, significant revenue loss, and illicit fund generation, prompting political reactions.
The Bombay High Court has ordered the Maharashtra Food and Drug Administration (FDA) to pay Rs 5 lakh compensation to a Pune-based sweets shop. The court criticised the FDA for suspending the shop's license despite a 98 per cent compliance report, calling its policy "strange and perverse" and stating the regulator was "going overboard."
A research paper by the National Council of Applied Economic Research (NCAER) recommends that Bihar revoke its alcohol ban, citing its failure to reduce violence against women and a rise in illicit drug and alcohol consumption. The report suggests that reinstating the liquor excise tax would significantly increase state revenues and decrease enforcement costs.
The Bombay High Court strongly criticised the Pune administration's decision to ban alcohol sales for 10 days during the Ganesh festival, questioning why Pune was singled out for such restrictions while other regions were not. The court deemed the blanket ban arbitrary and stigmatising for Pune residents, urging the administration to withdraw the order or face judicial intervention.
State-owned refiners Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have reported substantial losses for the first quarter of financial year 2026-27 (Q1FY27), primarily driven by a sharp increase in crude oil prices exacerbated by the ongoing West Asia crisis and suppressed marketing margins on petroleum products.
The Gauhati high court has questioned the legality of the demolition of 21 dwelling units on private agricultural land in Goalpara, saying the action appeared prima facie illegal and unauthorised and may have involved misuse of the Disaster Management Act.
Cricket Australia has announced that private investment will be introduced into the Big Bash League (BBL) from the 2027-28 season, beginning with the sale of the Melbourne Renegades T20 franchise, a move aimed at strengthening the league's long-term future and boosting finances.
Tata Sons has the balance sheet to support them, for now.
'Improved law and order and transparent governance have helped change UP's investment image.'
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
'The number of airport bundles that may be awarded to a single bidder would be capped.'
Eternal's quick commerce platform, Blinkit, significantly outperformed in Q1 FY27, with net order value (NOV) rising 19.1 per cent quarter-on-quarter, indicating strong market share gains driven by increased monthly transacting users and transaction frequency.
State-run Oil and Natural Gas Corporation (ONGC) Ltd reported a 112 per cent year-on-year increase in standalone net profit for Q1 FY27, reaching 17,034 crore, primarily due to higher crude oil prices and increased realisations from new well gas. Despite a consolidated net profit decline due to HPCL's losses, ONGC's core upstream business showed robust growth.
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
A six-year-old UKG student tragically died at a private school in Visakhapatnam after allegedly being slapped by a teacher inside the classroom, an incident captured on CCTV footage.
Tata Steel more than doubled its Indian capacity through acquisitions and expansion, strengthening cash generation as it pursued a costly restructuring of its European operations.
The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
The Enforcement Directorate (ED) questioned IAS officer Ansar Shaikh regarding alleged illegal sand mining and trafficking from riverbeds in West Bengal's Jhargram district and adjoining areas.
The leader of the opposition in the Jharkhand Assembly has urged the Governor to direct the Anti-Corruption Bureau to file a charge sheet in connection with the alleged liquor scam and requested a CBI probe.
A new white paper released by the Tamilaga Vettri Kazhagam (TVK) government reveals that Tamil Nadu's direct debt has nearly doubled to an alarming 10 trillion in the past five years, exposing significant fiscal strain and a substantial debt burden on every citizen.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
One 97 Communications Ltd, operating Paytm, is set to issue its first bonus shares, following a landmark year of achieving its maiden full-year profit and gaining significant market share. The board will meet on July 20 to decide on the bonus issue, reflecting confidence in its financial strength and aiming to improve stock accessibility for retail investors.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
The Bihar government has rejected demands to review its prohibition law, which has been in place for a decade, despite concerns raised by members of the ruling NDA about financial losses to the state.
All India Football Federation President Kalyan Chaubey has urged the Tata group to reconsider its decision to withdraw Jamshedpur FC from the Indian Super League. While Tata maintains it's a strategic move for grassroots development, Chaubey believes the decision should not be purely financial and highlights Tata's significant contributions to Indian football through the Tata Football Academy.
All India Football Federation President Kalyan Chaubey has urged the Tata group to reconsider its decision to withdraw Jamshedpur FC from the Indian Super League. While Tata maintains it's a strategic move for grassroots development, Chaubey believes the decision should not be purely financial and highlights Tata's significant contributions to Indian football through the Tata Football Academy.
An India-Pakistan fixture in an ICC event generates revenue to the tune of a staggering 'USD 250 million (over Rs 2200 crore', as per some estimates and the absence of the cash-cow fixture from the upcoming T20 World Cup is certain to cause heavy losses to all stakeholders.
Karnataka Chief Minister DK Shivakumar on Sunday asserted that his government was committed to protecting the interests of the state's farmers and people on the Cauvery issue, while appealing to organisations to withdraw the proposed state-wide bandh.
Police in Meerut, Uttar Pradesh, have dismantled an illegal telephone exchange allegedly used for revenue loss and an online fake loan racket, arresting three individuals and seizing a large quantity of equipment.
The Comptroller and Auditor General (CAG) of India has criticized the Maharashtra state excise department for operational lapses that led to a significant revenue shortfall. The report cites incorrect fee assessments, failure to implement revised rates, and other irregularities.
Listed capital market companies in India delivered strong fourth-quarter earnings growth, with a universe of 12 firms posting 30 per cent year-on-year revenue growth and 19 per cent earnings growth in Q4FY26, despite mark-to-market (MTM) losses impacting headline profitability for some.
The compensation would be met through levy of a cess called 'GST Compensation Cess' on luxury items and sin goods like tobacco, for the first five years.
