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The rupee’s weakness has pushed up costs for imports like crude oil and electronics and raised concerns about inflationary pressure. Exporters may see some benefit, but analysts note it depends on contracts and imported inputs, while capital flows and global risk sentiment remain key drivers.
The IMF has revised up its projection for India’s FY26 growth to 7.3% from 6.6%, citing stronger-than-expected economic performance and sustained momentum—an upgrade that adds to optimism but keeps the spotlight on inflation, investment and global risks.
State-owned Indian Bank has approved plans to open branches in Malaysia and Indonesia and set up a representative office in the UAE, subject to regulatory clearances. The bank reported a rise in Q3 FY26 profit and improvement in asset quality, while outlining growth targets for total business.
Reserve Bank of India Governor Sanjay Malhotra has welcomed the government’s plan to revise the base year for key macro indicators—CPI, GDP and IIP—saying updated data can better reflect today’s economy and help policymaking.
Walmart-backed PhonePe has received SEBI approval for its proposed IPO, with reports indicating it will be structured as an offer for sale (OFS) by existing shareholders rather than a fresh issue. The clearance is a key step toward what could be one of India’s largest fintech listings, reflecting continued investor interest in UPI-driven scale businesses.
Traders said the RBI stepped in to support the rupee after it weakened past the 90-per-dollar level, underscoring ongoing pressure on the currency and active central-bank management.
The US Treasury Secretary said there is a “path” to remove the additional 25% tariff imposed on India over Russian oil purchases, arguing that India’s refinery buying from Russia has fallen sharply. The remarks come amid heightened trade focus ahead of India’s Union Budget.