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SEBI cancelled registrations of five AIFs on Monday for repeated reporting violations. The funds failed to submit mandatory quarterly activity reports for 2025. SEBI said these entities "failed to file Quarterly Activity Reports (QARs) for the quarters ended March, June, September and December, 2025". This action was taken with immediate effect.
Japan's MUFG is starting a $250 million fund for Indian startups, focusing on early and growth-stage fintech companies. This move comes as other investors slowed activity, with MUFG aiming to "fill this gap" and back India's digital growth. The fund could grow to $400 million.
India can reap AI gains, but who captures value? AI promises faster coding and lower costs, but foundation models and GPUs are dominated by foreign firms. India risks automating jobs while paying foreign platforms. "India could emerge as a large consumer and implementer of AI," but core ownership may stay abroad, creating dependency.
Uttar Pradesh got 33,157 solar systems for water schemes, generating 900 MWp. These systems save costs and avoid 1.3 million tonnes of CO₂ yearly. The state used ₹7,812 crore for these unique, decentralized installations, supporting millions. Prime Minister Modi noted the innovation, saying, "aligns renewable energy deployment with public service delivery."
Hindustan Unilever launched a new Fragrance Hub in Mumbai on Tuesday. This centre, part of a €100 million programme, will use science and AI to create new scents. HUL said fragrance "plays a critical role in elevating the consumer experience." The hub aims to improve products and foster academic collaboration.
US spot petrochemical prices softened last week as export demand for plastics building blocks weakened for June. Spot ethylene fell almost 17%, sliding for a third straight week. Traders said weaker export demand for June appears to be driving the current softening. Many prices fell after months of elevated pricing.
Ananya Panday's film "Chand Mera Dil" saw a big drop on its second Monday, earning less than ₹1 crore. The movie, backed by Dharma Productions, had a steady second weekend, collecting ₹4.85 crore. However, weekday collections started to fall, with the film's total India net collection now at ₹25.20 crore.
Sebi proposed relaxing InvIT cash flow rules for road projects. It will allow debt-funded major maintenance expenses to be added back. This addresses industry concerns that current rules discourage project monetization. The regulator said, "This may discourage the developers from monetising their projects through InvITs."
OMCs are facing big losses on petrol and diesel, even after price hikes. They lost ₹12 on petrol and ₹21 on diesel per litre. Experts said, "OMCs may incur losses of ₹74,486 crore in the June quarter." Many more price increases are likely to avoid significant financial strain.
Indian travellers plan to spend more overseas after a tax cut, but managing budgets is their biggest worry. Many still exchange cash before trips. Hidden forex costs and unclear pricing are major concerns. Card reliability is more important than rewards. Southeast Asia remains the top travel destination.
Indians who worked abroad can now defer tax on foreign pension funds. Filing Form 40 electronically before the tax return deadline shifts taxation from accrual to withdrawal. This option, generally irrevocable, helps manage tax liabilities on accounts like US 401(k)s. Chartered Accountant Suresh Surana said, "this provision... allows individuals... to defer the taxation."
Andhra Pradesh got its highest-ever May GST revenue at Rs 4,987 crore. Chief Commissioner A Babu said, "Andhra Pradesh has logged its best-ever May." This record collection, up Rs 737 crore from May 2025, was driven by higher GST and VAT receipts, plus tech-based compliance.