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ED seized ₹60 crore cash and ₹45 crore in tainted real estate investments in a ghee fraud case. Raids across 15 locations in six states uncovered money laundered through adulterated ghee supplied to Tirumala Tirupati Devasthanams. Officials said the "proceeds of crime" were invested in properties.
Withdrawing from EPF at 35 can cost Rs 64 lakh by retirement. A single Rs 7.25 lakh withdrawal at age 35 reduces retirement wealth by nearly Rs 9 for every Rs 1 taken. Many salaried employees tap into EPF for needs, unaware of the "hidden cost" of lost compounding.
Indian firms invested CAD 11 billion in Canada, creating over 33,000 jobs. The report showed "Every single surveyed company plans to invest more in Canada over the next five years." Cooperation in mining and energy is a key focus, with bilateral trade set to rise.
Rupee fell sharply on Monday, its biggest single day fall in a month. High crude oil prices and a stronger dollar weighed on the currency. The rupee closed at 95.71 per US dollar. Earlier, the RBI's measures had boosted the rupee, with experts saying the central bank "laid the groundwork for attracting foreign capital."
IRB's toll collections jumped 25% to ₹843 crore in May 2026, showing more vehicles use its highways. This rise reflects higher traffic and new projects. The Dy. CEO said, "robust toll revenue growth... reflects continued traffic growth." The company got this growth despite economic pressures.
SAIL unveiled its FY27 strategic priorities on Monday, aiming to sustain strong financial performance. Chairman Ashok Kumar Panda said, "Our performance in FY26 reflects the combined effect of marketing initiatives, production improvements, efficiency gains and better financial strategies." The company showed good profit growth and reduced debt in FY26. SAIL will focus on customer needs and special steels.
Govt cut PM Ujjwala subsidy from nine to four cylinders yearly. The subsidy amount of ₹300 per cylinder remains unchanged. This comes as domestic LPG costs surpassed ₹1,600. Praveen Mal Khanooja said, "PMUY households will receive ₹300 a cylinder on the first four refills."
Nifty fell over 1,000 points since May 26 high of 24,089. On Monday, it hit an intraday low of 23,070. While Iran and Israel tensions eased, FII selling continues. Experts said, "23,000 holds the key to prevent a fall." Many factors caused the market's drop.
Sebi and RBI are working on a corporate bond derivatives framework to boost market liquidity. Sebi Chairman Tuhin Kanta Pandey said on Monday, "A working group is sorting out operational details to introduce a market-making framework." This move, along with policy changes for foreign investors, is expected to attract more capital.
Rupee fell to 95.70 per dollar on Monday. Oil prices surged over 4% amid Middle East tensions, impacting India's import bill. Foreign investors pulled out Rs 2.8 lakh crore from equities this year. "RBI was not in the market to protect the rupee until it fell to 95.70," said Anil Kumar Bhansali.
Star Alliance CEO Theo Panagiotoulias said India offers long-term opportunities in aviation. Many members are adding more premium seats due to growing demand for premium leisure travel, a trend that started after the pandemic. He noted, "the Indian market is such a critical market in terms of long-term growth." Air India is well-positioned to benefit.
Centre bets big on coal gasification, targeting ₹4 lakh crore investment. This push aims to save ₹3 lakh crore in foreign exchange and create one lakh jobs. Union Minister G. Kishan Reddy said, "We have already commenced surface gasification." The initiative will reduce import dependence and unlock high-value by-products.
Rail Vikas Nigam Limited (RVNL) said on Monday, June 8, it got a ₹221.33 crore contract from South East Central Railway in Chhattisgarh. The project involves signalling and telecommunication works at 15 stations. RVNL said the work "falls within the normal course of its business." This comes after RVNL reported a profit drop in Q4 FY26.