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    Markets on Wall Street are mixed as oil prices soar, lifting energy company stocks
    Bandhan Bank Q4 PAT jumps 68pc YoY to Rs 534 crore
    India’s intelligent living market signals growth as Smart Home Expo 2026 opens today
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April 28, 2026
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Inflation concerns and rising oil prices keep central banks cautious as energy stocks gain and markets trade mixed.
Global markets traded mixed as rising oil prices and stalled diplomatic efforts over the Iran war lifted energy stocks and intensified inflation concerns. Brent and US crude advanced sharply, and major energy companies gained after stronger profit results. Central banks were expected to remain cautious, with the Federal Reserve likely to hold rates steady and the Bank of Japan keeping its policy rate unchanged while monitoring the impact of Middle East developments on the economy.
April 28, 2026
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Retail banking-led profitability improves as Bandhan Bank reports stronger quarterly earnings and better asset quality
Bandhan Bank reported a sharp year-on-year rise in quarterly net profit, driven mainly by stronger retail banking and treasury performance and improved asset quality. Retail banking returned to profit, treasury income stayed robust, and these gains offset wholesale banking losses. Better collection efficiency, stabilisation of the microfinance-led portfolio, and a shift toward secured lending supported profitability. Asset quality strengthened as gross and net NPAs declined, while lower slippages and improved recoveries reduced stress despite continued provisions. Advances and deposits grew, the secured-loan share increased, and net interest income and total income also rose.
April 28, 2026
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Smart home automation drives India's connected living market as Expo 2026 showcases design-led technology and integrated solutions.
Smart Home Expo 2026 opened in Mumbai as a trade platform showcasing India's smart living ecosystem, with emphasis on home automation, intelligent lighting, immersive audio-visual systems, energy management and smart security solutions. The event brings together more than 450 brands and over 8,000 products, and is presented as a forum for knowledge exchange, collaboration and business opportunities across the architecture, interior design and technology sectors.
April 28, 2026
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Money laundering attachment under PMLA targets family-linked assets in the Reliance Communications bank fraud probe.
Provisional attachment under the Prevention of Money Laundering Act was made in a bank fraud-linked money laundering investigation involving Reliance Communications and related entities. The Enforcement Directorate attached a Mumbai flat, a Khandala farmhouse, a land parcel and shares of Reliance Infrastructure Ltd through a group entity, stating that the action was intended to prevent dissipation of assets and protect the interests of banks and the public. The agency also referred to restitution of assets to the victims under the PMLA.
April 28, 2026
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Carbon border adjustment mechanisms and climate justice shaped discussions on balancing trade competitiveness with climate responsibility.
Carbon governance and climate justice were examined through an international symposium on trade competitiveness and climate responsibility, jointly organised by CTIL and CITIL at DNLU, Jabalpur. The discussions centred on the legal, ethical and economic dimensions of carbon pricing mechanisms, carbon border adjustment mechanisms and other climate-linked trade instruments, with emphasis on balancing climate action with trade competitiveness and on equitable climate outcomes in developing countries.
April 28, 2026
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Multilateral trade governance faces pressure as WTO dispute settlement, consensus decision-making, and special treatment for developing countries are reassessed.
Multilateral trade governance is being reshaped by geopolitical contestation, technological change, and economic imbalances, with the World Trade Organization's future role assessed in light of these pressures. The discussion examined the WTO's core functions of monitoring, negotiation, and dispute settlement, and noted that monitoring through committees and trade policy reviews remains active while negotiations face persistent difficulty. The dispute settlement system was described as impaired by the continued non-functionality of the Appellate Body, with interim arrangements providing only partial solutions.
April 28, 2026
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Arbitrator qualification and arbitration training gain momentum as India builds a globally benchmarked dispute resolution ecosystem.
The Indian Institute of Corporate Affairs completed the first in-person assessment cycle of its Arbitrator Qualifying Assessment Program, a three-tier certification process designed to develop professionally trained, globally benchmarked arbitrators. The programme is part of a broader effort to strengthen India's arbitration ecosystem, improve the credibility and efficiency of arbitration as a dispute resolution mechanism, and build a pool of world-class arbitrators and mediators at global standards.
April 28, 2026
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Expected Credit Loss framework to raise bank provisioning as markets slip on crude price surge and foreign outflows.
Indian equity markets declined as surging crude oil prices, foreign institutional investor outflows and persistent geopolitical uncertainty weakened sentiment across benchmark indices and sectoral stocks. Banking, financial and auto shares led the fall, while energy, commodities, telecom, utilities, metal and oil and gas counters showed resilience in selective trading. The Reserve Bank of India has finalised implementation of the Expected Credit Loss framework from April 2027, replacing the incurred loss model with a forward-looking system for earlier recognition of credit risk and ongoing monitoring.
April 28, 2026
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Export approval for Class D HIV self-test highlights regulated private diagnostics and expansion into global healthcare markets.
Approval has been granted for the manufacture and export of a Class D in-vitro diagnostic HIV 1&2 self-test under the Medical Devices Rules, 2017. The product is designed for private use and uses rapid lateral flow immunoassay technology with a finger-prick blood sample to detect HIV-1 and HIV-2 antibodies without laboratory infrastructure. The approval is for export markets only and is not intended for domestic commercial distribution in India.
April 28, 2026
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Free trade agreement expands duty-free market access, services mobility, and investment cooperation between India and New Zealand.
India and New Zealand signed a Free Trade Agreement providing duty-free access for 100% of India's exports to New Zealand on entry into force, while India liberalised market access on 70.03% of tariff lines covering 95% of bilateral trade and retained exclusions for sensitive sectors such as dairy and specified agricultural products. The agreement expands services, mobility, and investment commitments, including a temporary employment entry visa pathway, post-study work rights, and a USD 20 billion investment commitment. It also strengthens trade facilitation, rules of origin, customs modernisation, safeguard measures, regulatory cooperation, and cooperation on intellectual property, agriculture, organic trade, and AYUSH.
April 28, 2026
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Gems and jewellery skill development gains momentum with affordable training, entrepreneurship support, and lab-grown diamond certification.
Professional training in gems and jewellery was presented as a driver of industry-relevant skills, entrepreneurship, and export-linked livelihoods, with the Udupi institute described as a model public-private partnership offering affordable courses and advanced facilities. An MoU between the Indian Institute of Gems & Jewellery and IIT Madras under the InCent LGD platform will support a specialised certification programme in lab-grown diamond technologies, aimed at bridging skill gaps, creating job-ready professionals, and strengthening India's lab-grown diamond value chain.
April 28, 2026
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Zero-duty market access through a free trade agreement is expected to boost India's engineering exports to New Zealand.
A free trade agreement with New Zealand provides zero-duty market access for Indian goods and is expected to support a substantial increase in India's engineering exports over the next five years. The arrangement is described as lowering trade barriers and giving exporters, particularly MSMEs, more stable access to a relatively small but high-potential market. The agreement is presented as part of a broader trade strategy in which free trade pacts are used to expand export opportunities, diversify markets, and strengthen the engineering sector's longer-term export target.
April 28, 2026
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Free trade agreements and export reform measures drive India's push to expand markets, MSMEs and export growth.
Strengthening India's export ecosystem through free trade agreement utilisation, export reform measures and closer government-industry coordination was discussed in a meeting chaired by the Union Minister of Commerce and Industry with export promotion councils and industry bodies. The discussion focused on using existing and newly signed FTAs to expand market access, raise export performance and support the goal of reaching USD 2 trillion in exports by 2030 under the Viksit Bharat vision. The minister also emphasised the need to widen the exporter base, especially by bringing more MSMEs into the export chain and improving access to new and existing markets.
April 28, 2026
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Aviation turbine fuel pricing relief sought as airlines warn rising costs are making operations unsustainable.
Airlines sought urgent revision of aviation turbine fuel pricing and temporary financial support, saying extreme fuel costs, airspace restrictions and the crude-ATF differential were making both domestic and international operations unsustainable. The federation requested uniform use of the earlier crack band pricing mechanism, deferment of excise duty on ATF and a transparent pricing framework that would keep operations viable while preserving a fair margin for oil marketing companies.
April 28, 2026
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Money laundering probe leads to provisional attachment of assets linked to the Reliance Anil Ambani Group under PMLA.
The Enforcement Directorate provisionally attached fresh assets in an ongoing money laundering investigation concerning the Reliance Anil Ambani Group under the Prevention of Money Laundering Act. The attached properties are stated to belong to Reliance Communications and Reliance Infrastructure and include immovable assets and shares. The action forms part of a continuing probe said to involve allegations of bank fraud and diversion of funds.
April 28, 2026
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Artificial intelligence-driven marketing transformation reshapes BlueFocus through automation, workflow integration, and globalization-led business expansion.
BlueFocus described a transition from using AI for efficiency to embedding it in workflows, organisation, and decision-making. The company said AI now supports social media insights, creator analysis, advertising risk control, budget adjustment, and video production, while token usage and agent-to-agent collaboration indicate how deeply AI has entered the business process. It also distinguished AI-driven revenue as automated, data-learning business generated with minimal human input, and linked this strategy with overseas expansion and globalization.
April 27, 2026
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Exporter relief measures discussed to boost shipments, widen market access, and ease compliance constraints amid global trade disruption.
Exporter associations discussed ways to boost shipments, widen market access through free trade agreements, and improve utilisation of existing trade pacts amid global uncertainty. They sought extension of authorisation validity, broader coverage of trade relief measures, and relaxation of the realisation-linked condition under the RELIEF Scheme of ECGC to support exporters affected by logistics disruptions and delayed payments.
April 27, 2026
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Free trade agreement, heatstroke preparedness and revised climate targets shape India's latest trade and policy actions.
India and New Zealand concluded a free trade agreement providing duty-free access for a wide range of Indian exports and strengthening bilateral economic cooperation. The Centre also directed operationalisation of dedicated Heat Stroke Management Units at all health facilities and ambulance preparedness for expected heatwave days. India submitted revised 2031-2035 climate targets to the UN climate body, committing to a 47 per cent reduction in emission intensity of GDP from the 2005 baseline by 2035.
April 27, 2026
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Farmers' interests in free trade agreements shaped apple import conditions, price control, and domestic production goals.
Free trade agreements were said to be framed with the interests of farmers and the country kept paramount, and apple imports were described as being allowed only on India's own conditions. The statement emphasised import duty, domestic price control, and the aim of increasing domestic production to reduce dependence on imports, while protecting farmers' interests and engaging with growers' concerns.
April 27, 2026
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Anticipatory bail in coercive religious conversion allegations turns on custodial interrogation, digital evidence, and linked financial trails.
Anticipatory bail proceedings arose from allegations of sexual harassment, coercion, and forcible religious conversion at a Tata Consultancy Services unit, with the prosecution seeking custodial interrogation to examine digital evidence, financial links, and wider conversion-related connections. The defence pointed to the absence of a specific anti-conversion law in Maharashtra at the time, while noting the later passage of the Freedom of Religion Bill, 2026. A Special Investigation Team was probing multiple FIRs under the Bharatiya Nyaya Sanhita and the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act.

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Customs & Trade

'Compromised' PM appeasing 'good friend': Congress on Rubio's India trade remarks

May 24, 2026

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New Delhi, May 24 (PTI) The Congress on Sunday targeted Prime Minister Narendra Modi over US Secretary of State Marco Rubio's remarks that India has committed to purchasing USD 500 billion worth of American goods over the next five years, alleging that the "compromised PM" was going the extra mile to appease his "good friend".

Congress general secretary in charge of communications, Jairam Ramesh, also asked why the Modi government had not shown the courage to renounce what he termed an "anti-people" and "dangerous" India-US trade deal, as countries such as Malaysia had done.

He also questioned why the Modi government had agreed to record imports from the US when the prime minister had on record asked citizens to cut down on domestic fuel consumption and overseas travel to save foreign exchange.

Will this surge in imports not further cause the rupee to depreciate, he further asked.

"At 5:37 PM IST on May 10 2025, it was US Secretary of State Marco Rubio who first made the announcement of the ceasefire that brought Operation Sindoor to an unexpected halt. He had claimed that it was intervention by President Trump that made the ceasefire possible," Ramesh said on X.

On May 21, 2026, Rubio was again the very first to announce that the President of Venezuela would be visiting India next week, he said, adding that this was even before India and Venezuela had even hinted or confirmed the news.

"Today, Mr. Rubio has once again shocked the country by making a statement on X that the Modi Government has committed to purchasing USD 500 billion in U.S. goods over the next five years, focusing on energy, technology, and agriculture," Ramesh said.

India's current yearly imports are USD 52.9 billion as of FY26, and Rubio's statement implies that India will have to double its annual imports from the US, he said.

"We have five straight questions for the Prime Minister on this new development -- Countries like Malaysia have declared their trade agreements with the US 'null and void' after the US Supreme Court ruling, which struck down the Trump tariffs that formed the backdrop to these agreements.

"The Indo-US trade deal, signed in a hurry by the PM while he was under pressure from Rahul Gandhi's expose in Parliament, saw the Modi Government unilaterally make enormous concessions that threaten our farmers and industries," he said.

"The logic of this deal has now collapsed after the US Supreme Court's verdict striking down the tariffs. Why has the Modi Government not had the courage to renounce this anti-people, dangerous trade deal like Malaysia and other countries have?" Ramesh said.

He pointed out that the prime minister himself urged citizens to reduce fuel consumption and overseas travel to save foreign exchange.

"Why has the Modi Government simultaneously agreed to record imports from the US at the same time?" he asked.

Ramesh said the Indian rupee has lost 12 per cent of its value against the US dollar over the past 12 months. Will this surge in imports from the US not further cause the rupee to depreciate, he asked.

"Last week, the Trump administration dismissed the criminal fraud charges against Mr Adani in the solar energy scam where Mr. Adani reportedly paid bribes for USD 265 million. Is Mr. Modi's capitulation to the US on imports linked to the relief provided to the Modani empire by Mr. Trump?" he said.

"Why is all the communication on Indian foreign policy -- from the Operation Sindoor ceasefire and the halting of Russian oil and gas imports, to the Indo-US trade deal and the visit of the Venezuelan President -- now coming first from Washington DC instead of New Delhi?" Ramesh said.

Why have the prime minister and Foreign Affairs Minister S Jaishanka renounced their responsibility to communicate to the Indian people and to the world the foreign policy of our sovereign state, Ramesh asked.

"It appears that the compromised Prime Minister is keen on going the extra mile to appease and please his good friend," the Congress leader said, taking a swipe at the PM.

Ramesh's remarks came hours after Rubio, in a post on X, said, "Huge thanks to @USAmbIndia Sergio Gor and our American diplomats for their efforts. Because of their great work, India has committed to purchasing $500 billion in U.S. goods over the next five years, focusing on energy, technology, and agriculture." "They're doing terrific work on behalf of President Trump and the American people!" Rubio said.

Prime Minister Modi on Saturday said India and the US will continue to work closely for the global good.

Rubio, who met Modi shortly after landing in New Delhi, invited the prime minister on behalf of President Donald Trump to visit the White House in the "near future", as the top American diplomat described India as the "cornerstone" of Washington's approach towards the Indo-Pacific.

On Sunday, Rubio held talks with Jaishankar here and said that relations between India and the US have not lost momentum. PTI ASK RHL

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