Bengaluru: Swiggy cofounder Nandan Reddy has stepped down from the company’s board and will exit the firm to pursue independent projects, marking a key founding-level transition at the listed food delivery and quick commerce platform.The company disclosed in a stock exchange filing on Friday that Reddy is “stepping down from his board position and moving…
The Reserve Bank of India on Friday proposed an overhaul of the framework for identifying upper-layer non-banking finance companies (NBFCs), suggesting a shift to an asset-size-based criterion and inclusion of government-owned entities, PTI reported.Under the draft ‘Reserve Bank of India (Non-Banking Financial Companies’ Registration, Exemptions and Framework for Scale Based Regulation) Second Amendment Directions, 2026’,…
India’s foreign exchange reserves rose by $9.063 billion to $697.121 billion for the week ended April 3, 2026, reversing the decline seen in the previous week, PTI reported.The reserves had dropped by $10.288 billion to $688.058 billion in the week ended March 27.The forex kitty had earlier touched an all-time high of $728.494 billion in…
Benchmark equity indices Sensex and Nifty rallied over 1% on Friday, led by strong buying in banking and financial stocks amid positive global cues and easing concerns around the Middle East situation.The 30-share BSE Sensex surged 918.60 points or 1.20% to settle at 77,550.25, after hitting an intra-day high of 77,622.50. The NSE Nifty climbed…
Equity mutual funds saw net inflows surge 56% to Rs 40,450 crore in March, reflecting strong investor participation despite market volatility and geopolitical tensions, PTI reported.The inflow was the highest since July 2025, when equity-oriented funds had attracted Rs 42,702 crore.According to data from the Association of Mutual Funds in India (AMFI), this also marked…
The Income Tax Department disposed of 2.22 lakh appeals in the last financial year, marking a 29% increase over the previous fiscal as part of efforts to reduce disputes and improve taxpayer services, PTI reported.CBDT chairman Ravi Agrawal, in a letter to officials, said actions in the current fiscal (2026-27) should be “guided” by data,…
Gold prices traded lower in futures markets on Friday, tracking weak global cues and softer spot demand.Data from the Multi Commodity Exchange (MCX) showed that the June contract fell by Rs 1,363, or 0.89%, to Rs 1,52,071 per 10 grams, with a business turnover of 2,219 lots. Analysts attributed the decline to subdued global trends….
Following RBI’s restrictions, the rupee has rebounded more than 2 per cent to 92.66 against the dollar as of Thursday. (AI image) The Reserve Bank of India’s move to stem rupee’s fall may end up acting as a deterrent for global investors. The central bank’s most aggressive push in nearly a decade to stabilise the…
Oil prices rose on Friday with Brent Crude climbing above $96 a barrel and West Texas Intermediate (WTI) crude near $99 a barrel, as markets reacted to renewed supply risks in the Middle East.In the early hours of trade, Brent crude rose by 0.87% to $96.75 per barrel while WTI was up by 1.06% to…
Asian shares rallied in early trade on Friday after investors reacted positively to easing geopolitical fears and a modest recovery in global risk sentiment following developments in Middle East peace efforts.MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%. Japan’s Nikkei 225 added 1.5%, while South Korea’s Kospi climbed 1.9%, leading regional advances. S&P…