RBI to Banks & NBFCs: Ensure Policies and Practices Do Not Create Incentives for Mis-Selling
The Reserve Bank of India (RBI) issued new directives requiring banks and non‑bank financial companies (NBFCs) to eliminate incentives that encourage mis‑selling of financial products. Effective Jan 1 2027, entities must avoid "dark‑pattern" interfaces, obtain explicit, documented consent, and assess product suitability for each customer. A mandatory feedback loop within 30 days of sale and a ban on compulsory bundling are also stipulated. The RBI mandates comprehensive policies covering advertising, marketing, and sales of both own‑brand and third‑party offerings.
NCR’s Noida International Airport Opens for Business: Centre Says Envisaged as a ‘True Aerotropolis’
Noida International Airport (NIA) began domestic commercial operations on June 15, 2026, with IndiGo flying the inaugural routes from Lucknow and Bengaluru. The Union Civil Aviation Minister framed the airport as the core of a planned aerotropolis that will integrate manufacturing, IT,...
India’s EV Expansion Kick-Off June 15 with 16 Rollouts vs 7 ICE Models
India’s automotive cycle kicks off on June 15 with 16 electrified rollouts—10 battery‑EVs, 4 plug‑in hybrids and 2 hybrids—against just seven new internal‑combustion models. The launches cover every price tier, from sub‑$12,000 city cars to $240,000 luxury sedans, and involve major...
Coal Minister Urges Telangana CM to Inquire Into SCCL’s Coal Disappearance Claims
India’s Union Coal Minister G Kishan Reddy has asked Telangana Chief Minister Revanth Reddy to launch an urgent inquiry into claims that 4 million tonnes of coal, worth roughly $193 million, vanished from Singareni Collieries Company (SCCL). The minister highlighted SCCL’s precarious finances, noting over...
Centre Proposes Common Broadcasting Regulations for TV, Radio
India's Ministry of Information and Broadcasting released draft Telecommunications (Television, Radio and Associated Services) Rules, 2026, proposing a single regulatory framework for TV and radio. The rules mandate TV channels to air at least 30 minutes of national‑importance content daily...
Rafale Deal Unlikely to Be Announced During PM Modi’s France Visit
India is negotiating a government‑to‑government Rafale purchase worth roughly ₹3.25 lakh crore (about $39 billion) for 114 fighter jets, but the deal is unlikely to be announced during Prime Minister Narendra Modi’s two‑day visit to France starting June 13. The French side is seriously considering...
Jindal Poly Films Minority Shareholders Weigh Options on Dismissal of Class Action Suit by SC
India’s Supreme Court set aside NCLT and NCLAT orders in the Jindal Poly Films case, dismissing the country’s first corporate class‑action suit and appointing retired Chief Justice Manindra Mohan Shrivastava as sole arbitrator. The suit, brought by minority shareholders, alleged...
Gujarat to Set up Space Manufacturing Hub Near Khoraj in Ahmedabad; ₹100 Crore Testing Facility Planned for Start-Ups
The Gujarat government announced a dedicated space‑manufacturing hub near Khoraj in Ahmedabad, backed by a ₹100 crore (≈ $12 million) Common Technical Facility for startups and MSMEs. The 50‑acre park, expandable to 100 acres, will host cleanrooms, thermal‑vacuum chambers, vibration rigs for payloads...
India's Current Account Deficit to Remain at 1.5-1.7% of GDP in FY27, but RBI Measures May Turn BoP Surplus: SBI...
India’s current‑account deficit is projected to stay at 1.5‑1.7% of GDP in FY27, but recent RBI policy moves could flip the overall balance‑of‑payments into a modest surplus. The central bank’s February and June 2026 steps—exempting fresh foreign‑currency non‑resident deposits from...
Sensex Sustains over 74,400 Level: HUL, ICICI Bank, Axis Bank Lead Gains as Markets Defy Weak Global Cues
India's BSE Sensex closed at 74,429.25, up 0.69%, while the Nifty 50 rose 0.57% to 23,373.75, defying broader global weakness. Gains were led by Hindustan Unilever, ICICI Bank, Axis Bank and Kotak Mahindra Bank, with FMCG and private‑banking stocks posting...
Indian-American Co-Founder’s Drone Boat Powers Historic US Rescue Mission in Hormuz
A Texas‑based startup, Saronic Technologies, rescued two US Army Apache crew members after their helicopter crashed near the Strait of Hormuz using its autonomous drone boat Corsair. The mission marks the first time the US Armed Forces have employed an...
RBI Offers Discounted FX Swaps at 1.5% to Draw Inflows
The Reserve Bank of India announced a concessional foreign‑exchange swap facility for state‑run companies at a fixed 1.5% annual rate. The rate, roughly half the prevailing 2.5‑3% forward premium, applies to swaps with an average maturity of three years or...
Refex Mobility Revenue Crosses ₹100-Crore Mark in FY26
Refex Mobility, the electric‑vehicle mobility arm of Refex Industries, reported FY 2025‑26 revenue of ₹103.2 crore (about $12.4 million), a 2.5‑times increase from the prior year. The company completed more than 1.5 million trips and grew its fleet to over 1,750 EVs across five...
SpiceJet Plans to Induct 3 Airbus A320 Planes on Damp Lease in July
SpiceJet announced it will induct three Airbus A320 aircraft on a damp lease in July, expanding its narrow‑body fleet ahead of the peak travel season. The carrier also re‑activated a previously grounded Boeing 737 MAX, returning it to commercial service. These...
Heat, Humidity of India’s Monsoon Could Extend Summer Heat Stress as Climate Warms: Study
A new study by IIT Gandhinagar, Stanford and Purdue finds that India’s monsoon season could see uncompensable heat stress (UHS) affect roughly 53 % of the country if global warming reaches 2 °C above pre‑industrial levels. Over the 1979‑2021 record, UHS‑prone area...