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    Financial conditions, crude oil prices challenges for external sector outlook: RBI article
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May 22, 2026
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External sector outlook faces pressure from financial conditions, crude oil prices and capital flows amid West Asia uncertainty.
External sector outlook remains under pressure from financial conditions, crude oil prices and capital flows amid the West Asia conflict, with volatility in commodity markets, global trade flows and supply chains adding to uncertainty. India is described as entering this phase from a position of macroeconomic strength, with domestic demand continuing as the main driver of growth, while robust services exports, positive net FDI flows, foreign exchange reserve buffers and policy measures are expected to cushion external headwinds.
May 22, 2026
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RBI surplus transfer and contingent risk buffer policy reflect strong income, balance-sheet growth, and macroeconomic caution.
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May 22, 2026
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May 22, 2026
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May 22, 2026
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May 22, 2026
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May 22, 2026
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May 22, 2026
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May 22, 2026
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Centre asks elite Delhi Gymkhana Club to hand over premises by June 5, cites security reason

May 23, 2026

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New Delhi, May 23 (PTI) The Delhi Gymkhana Club, where the city's powerful and elite rubbed shoulders for nearly a century, stared at possible closure on Saturday with the Centre asking it to return its expansive 27.3 acres by June 5 on grounds of "securing defence infrastructure".

The sprawling premises, situated at 2, Safdarjung Road, in the heart of leafy Lutyens' Delhi, were leased to the Imperial Delhi Gymkhana Club Ltd (now known as Delhi Gymkhana Club Ltd) for maintaining a social and sporting club.

It stands adjacent to the prime minister's residence on Lok Kalyan Marg on one of the city's most valuable and strategically important land parcels, within the high-security administrative zone that also houses several key central government and defence establishments.

An order, issued by the Land and Development Office (L&DO) under the Union Housing and Urban Affairs Ministry on Friday, stated that the premises are critically required for the strengthening and securing of defence infrastructure and other vital public security purposes.

The government's move drew criticism from various quarters.

"Till now, it was the poor who were being affected, so the rich were not too bothered. Then came the turn of shopkeepers, so salaried professionals did not feel affected. Now it is the turn of senior officers and professionals who visit clubs. Everyone's turn will come eventually," AAP leader Saurabh Bharadwaj said.

Madras Gymkhana Club president Capt S Seshadri said that it was a sad thing to happen to an institution of such stature.

"I am not going to say it's fair or not fair. It's beyond my capacity to say that. But I feel sad," he said.

Many members of the Delhi Gymkhana Club said that the order came as a "shock" to them, and they would challenge it in court.

A member, on condition of anonymity, said that a government-appointed committee has been running the club for the last few years, and the current management is not expected to challenge the eviction order in the court of law.

"How can we expect the current club management to challenge the order since it is currently being run by the government-appointed committee? Members will have to file an application on their own to challenge the government's order," he said.

In its letter to the club's secretary, the L&DO said the leased land is essential to fulfil urgent institutional needs, governance infrastructure and public-interest projects, integrated with the resumption of adjoining government lands.

"In exercise of the powers conferred under Clause 4 of the Lease Deed, the President of India, through the Land & Development Office, hereby determines the lease and orders re-entry of the aforesaid premises with immediate effect," it stated.

"Upon such re-entry, the entire plot of land measuring 27.3 acres, along with all buildings, standing erections, structures, lawns, and fittings thereon, shall vest absolutely in the lessor, i.e., the President of India, through the Land & Development Office." According to the order, the premises will be taken over by the Land & Development Office on June 5.

"You are directed to hand over peaceful possession of the premises to the representatives of this office on the aforesaid date. In the event of non-compliance, possession shall be taken in accordance with law," it stated.

A senior official in the Union Housing and Urban Affairs Ministry said that most of the land allotted on lease to various institutions in Lutyens' Delhi is owned by the Government of India, which may invoke its "power" to take back its land, citing security and other reasons that are in the interest of the nation.

The latest move comes against the backdrop of the recent removal of slums from the nearby Race Course Road.

In March this year, the Delhi High Court stayed the eviction notices issued to the Delhi Race Club at Kamal Ataturk Marg and the Jaipur Polo Ground in the Race Course area.

The court said that the Union Housing and Urban Affairs Ministry cannot take "forcible possession" of these iconic premises.

The tussle between central authorities and the Delhi Gymkhana Club is not new.

In 2022, the National Company Law Tribunal (NCLT) permitted the Centre to take over the management of the prestigious Delhi Gymkhana Club, citing financial irregularities and violations of company law.

The tribunal authorised the Ministry of Corporate Affairs to replace the club's existing general committee with a government-appointed panel.

Another member of the club said that the Indira Gandhi Memorial, also located on Safdarjung Road, is visited by thousands of people every day, questioning how members of the club could be considered a "security hazard".

Founded during the British era, the club began functioning from Civil Lines area in 1913 under the name Imperial Delhi Gymkhana Club. It was renamed the Delhi Gymkhana Club after India gained Independence, while the existing structures were constructed in the 1930s.

The present structure at Safdarjung Road was built in the early 1930s, with architect Robert T Russell being entrusted with its design, according to the club's website.

Russell, also associated with Connaught Place and the Commanders-in-Chief's residence (later Teen Murti House), shaped the club as a prominent complex set amid large green lawns, according to historical accounts.

Meanwhile, uncertainty loomed over the fate of nearly 600 employees of the club following the government's eviction order.

Inside the sprawling premises, the atmosphere on Saturday evening was marked by unease, with employees saying they had received no formal briefing from management on the future course of action.

A staff member said workers came to know of the development only recently and were left unsettled by the abruptness of the order.

"There has been no formal meeting with employees so far. Most of us are still waiting for clarity on what happens to our jobs after June 5," the employee said.

Among those affected are long-serving workers who have spent decades maintaining the club's facilities.

A gardener working at the tennis lawns, who has been associated with the club for 17 years, said he was carrying out his usual afternoon routine of trimming grass and tending to the courts when he first heard about the development.

"This is a very large institution with a long history and a prominent membership base. An immediate shutdown without transition is not practically feasible," a club official said. PTI SHB MSJ VBH AHD BUN RT

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