ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
A committee investigating the sale of government land in Pune to a company co-owned by Parth Pawar has found that officials from revenue, stamp, and registration departments facilitated the illegal transaction.
The Bangalore Water Supply and Sewerage Board (BWSSB) is set to explore the use of AI, predictive analytics, and robotic inspection technologies to detect water theft, reduce leakages, and improve operational efficiency across Bengaluru's water distribution network.
Akasa Air, despite facing headwinds from the West Asia conflict and rising aviation turbine fuel prices, expects to maintain a 30-40 per cent growth trajectory over the next five years and aims for an initial public offering (IPO) within two to four years, according to CFO Ankur Goel.
Haryana Transport Minister Anil Vij has ordered a state-wide investigation into alleged irregularities in vehicle registrations across multiple Sub-Divisional offices and Regional Transport Offices. The probe, led by the State Vigilance and Anti-Corruption Bureau, follows reports of fraudulent registrations in Ambala. Vij has also addressed issues such as uncovered construction vehicles and violations of the Stage Carriage Scheme.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
Indian equity benchmark indices Sensex and Nifty tumbled over 1 per cent for the third consecutive day, driven by a sharp rally in crude oil prices, massive selling in IT stocks, and unabated foreign fund outflows amid ongoing geopolitical tensions in the Middle East.
Fintech giant Paytm reports a consolidated profit of Rs 183 crore in Q4 FY26, marking a significant turnaround driven by its core payments business, growth in loans, and consumer-side profitability. The company is also prioritising investments in AI and has ruled out applying for an NBFC licence.
Global financial institutions, including Goldman Sachs and Citigroup, have invested Rs 963 crore in One 97 Communications (Paytm's parent company) through open market transactions, acquiring a 1.34 per cent stake from SAIF Partners and Elevation Capital.
According to experts, the ban will not result in revenue loss for the BCCI or the IPL broadcasters.
Shares of One97 Communications, which operates the Paytm brand, experienced a significant jump after the company reported a consolidated profit for the January-March quarter.
States will remain "net gainers" of the proposed GST rate rationalisation exercise with their GST revenues, including devolution, estimated to be over Rs 14.10 lakh crore this fiscal, according to an SBI Research report released on Tuesday. It said that, as was evidenced in the earlier exercise of GST rate rationalisation in 2018 and 2019, an immediate reduction in rates can cause a short-term dip of around 3-4 per cent in month-on-month collections (roughly Rs 5,000 crore, or an annualised Rs 60,000 crore), revenues typically rebound with sustained growth of 5-6 per cent per month.
Kolkata Police have dismantled a cyber fraud network operating illegal 'SIM box devices' to impersonate law enforcement officials, leading to the arrest of two individuals and the recovery of crucial equipment.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Fintech giant One97 Communications, which operates Paytm, has decided against applying for a Non-Banking Financial Company (NBFC) licence, favouring its existing partnership model.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
State-run Bharat Petroleum Corporation Ltd (BPCL) plans a significant capital expenditure of 25,000 crore for the financial year 2026-27, primarily for ongoing expansion projects. The company also stated that the recent 4-per-litre price hike in petrol and diesel has provided some financial relief amidst volatile crude oil prices and mounting losses.
At least 89 people have died in Uttar Pradesh after severe storms and heavy rain caused widespread damage, uprooting trees and electric poles and damaging homes. Chief Minister Yogi Adityanath has directed officials to provide immediate relief to affected families.
Paytm, operated by One97 Communications, is not actively seeking a non-banking financial company (NBFC) licence, preferring partnership models for lending operations, according to its Group CFO.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
Delhi Gymkhana Club members call takeover "illegal" and highlight heritage and social value.
Amid the arithmetic of subsidies, consumption and capacity, whichever government assumes office in Tamil Nadu after May 4 is likely to inherit a growing debate over how far the state can continue to expand welfare promises without placing additional strain on public finances and the power sector.
The Jammu and Kashmir Anti-Corruption Bureau (ACB) has uncovered significant land-related irregularities, leading to the registration of 24 FIRs against revenue officials, land grabbers, and others involved in the fraudulent acquisition of prime custodian land parcels.
Indian stock markets saw a significant rebound, with the Sensex jumping nearly 790 points, primarily fuelled by strong buying interest in telecom, pharma, and private banking shares, despite a volatile trading session and a weakening rupee.
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
Cricket Australia (CA) announced a net deficit of A$11.3 million ($7.34 million) for the 2024-25 financial year on Thursday, with a steep increase in costs offsetting a jump in revenue from hosting the Border-Gavaskar series against powerhouse India.
Prashant Kishor's Jan Suraaj Party reiterated its promise to scrap the liquor ban in Bihar if elected, planning to use the revenue to secure loans from international financial institutions.
Kerala's Leader of Opposition, V D Satheesan, has accused the state government of inaugurating a township for 2024 landslide victims in Wayanad to mislead the public, citing issues with the construction and timing of the inauguration.
'What we are witnessing is a massive anti-incumbency wave that has cut across all social and political divides.'
The readed groups' income plummeted from around $80 million (Rs 532 crore) each month to $56 million (Rs 372 crore).
'If 5% of the total revenue was spent on LPG (pre-war), it is now expected to double. The overall food cost in restaurants is expected to rise by 4-6%.'
The Tamil Film Producers Council (TFPC) has resolved to implement a revenue-sharing model for big-budget films, requiring actors and technicians to share profits and losses. The move aims to address financial pressures from declining theatrical and OTT revenues. The TFPC also mandated staggered OTT release windows and formed a committee to ensure access to theaters for smaller films.
'We want to become India's topmost integrated studio, working in different languages.'
Authorities in Thane district, Maharashtra, have intensified their crackdown on illegal sand mining, destroying equipment worth approximately 9 million in the Bhiwandi taluka.
India's new manufacturing project announcements more than halved in the fourth quarter of FY26, falling 60 per cent sequentially and 78 per cent year-on-year to approximately 1.7 trillion, driven by global uncertainties, geopolitical conflicts in West Asia, and existing unutilised manufacturing capacity.
A suspended revenue department official has been arrested in Chhattisgarh in connection with an alleged compensation scam related to the Bharatmala road project, which caused a loss of Rs 32 crore to the exchequer.
A devastating explosion at a fireworks manufacturing unit in Thrissur, Kerala, has resulted in at least 13 fatalities and numerous injuries. The incident occurred as the unit was preparing crackers for the upcoming Thrissur Pooram festival.
IndiGo, Air India, and SpiceJet are opposing the government's directive to offer 60% of seats for free selection, arguing it will lead to increased airfares to compensate for lost revenue.
