Author: Varta24 Business
State-owned Bank of India (BOI) has announced an increase in interest rates for specific medium and long-term domestic fixed deposits (FDs) valued under ₹3 crore. The revised interest rates are officially effective starting Monday, May 18, 2026. The adjustment offers a timely avenue for retail investors looking to lock in steady, guaranteed returns on their savings amid ongoing market fluctuations. New Interest Rates for General Depositors The public sector lender has structured the hikes to reward depositors across various multi-year horizons: 1 Year to Less Than 2 Years: The interest rate has been scaled up to 6.5% per annum. 2…
The Indian stock market suffered a brutal, across-the-board selloff during intraday trade on Monday, May 18, 2026. Striking global cues and macroeconomic headwinds sent shockwaves through Dalal Street, dragging both the Nifty 50 and the BSE Sensex down by over 1% each, while mid and small-cap segments plummeted even harder. The BSE Sensex plummeted by more than 1,000 points to hit an intraday low of 74,180, while the NSE Nifty 50 breached critical psychological baselines to touch a session low of 23,317. The sudden panic wiped out nearly ₹9 lakh crore in investor wealth in a single day, pulling the…
As India battles crippling energy import costs and a weakening rupee amid global oil turmoil, a Monaco-based fuel technology company says it has found a solution hiding in plain sight: water. FOWE Eco Solutions has introduced its patented Cavitech fuel emulsion technology to the Indian market. The company claims its system can help heavy industries slash fuel consumption by up to 10%, reduce harmful emissions dramatically, and improve machinery lifespan—all without modifying existing engines or shutting down factories. The pitch arrives at a critical juncture for India. The country currently imports nearly 88% of its crude oil requirements, while state-run…
Global private equity giant Bain Capital announced on Monday, May 18, 2026, that it has successfully closed its sixth Asia-Pacific buyout fund with a final corpus of $10.5 billion. The fund massively exceeded its original target of $7 billion, reflecting strong institutional backing despite a challenging fundraising environment across the region. The fund includes approximately $9.1 billion in external capital commitments. The remaining balance was contributed by Bain Capital’s own partners, employees, and related entities, making the firm’s internal team collectively the single largest investor in the fund. Defying a 12-Year Regional Fundraising Slump The oversubscribed closing of Bain’s fund…
The Union Government on Saturday, May 16, 2026, issued a notification imposing immediate restrictions on silver imports. The move is part of a broader economic offensive aimed at curbing the surge of precious metal imports, narrowing India’s widening trade deficit, and stabilizing the rupee against mounting external pressures. According to the order issued by the Directorate General of Foreign Trade (DGFT), the import policy for high-purity silver bars—including silver plated with gold or platinum containing 99.9% or more silver by weight—has been shifted from “Free” to “Restricted.” Under the “Restricted” category, traders and businesses can no longer import these items…
Gold loan major Muthoot FinCorp announced on Saturday, May 16, 2026, that its board has approved a sweeping capital-raising blueprint. The plan includes an Initial Public Offering (IPO) of up to ₹4,000 crore, a strategic stock split, and massive debt issuance programs to fuel its next phase of growth. The proposed public market debut and restructuring are subject to necessary regulatory and shareholder approvals. Key Highlights of the Fundraising and Capital Restructuring The ₹4,000 Crore IPO: The company plans to launch a fresh issue of equity shares (currently at a face value of ₹10 each) to raise up to ₹4,000…
As global energy markets face severe stress, Prime Minister Narendra Modi’s ongoing six-day diplomatic tour of the UAE, Netherlands, Sweden, Norway, and Italy is being recognized as a critical offensive to safeguard India’s energy security. With Brent crude stubbornly hovering above $100 per barrel due to the U.S.-Iran conflict and shipping anxieties in the crucial Strait of Hormuz, India—which imports nearly 90% of its crude requirements—is feeling the pinch through rising domestic inflation, pressure on oil marketing companies, and a weakening rupee. Market experts emphasize that while this tour cannot immediately lower international oil prices, it marks a structural shift…
Prime Minister Narendra Modi landed in Amsterdam on Saturday, May 16, 2026, kicking off a crucial two-day official visit to the Netherlands aimed at bolstering bilateral cooperation. The visit takes place against the backdrop of a major trade and investment push fueled by the India-EU Free Trade Agreement. Focus Areas for Bilateral Talks Upon his arrival, Prime Minister Modi highlighted that his discussions with the Dutch leadership will focus on future-ready sectors. High on the agenda are: Semiconductors: Exploring tech partnerships and supply chain resilience. Water Management: Leveraging Dutch expertise in flood control and delta governance. Clean Energy: Expanding joint…
Amid its ongoing, high-profile legal battle with Elon Musk, OpenAI has announced a sweeping internal restructuring. The company is consolidating its core products—ChatGPT, the AI coding assistant Codex, and developer APIs—into a single product organization. The strategic shakeup is designed to eliminate expensive “side quests,” counter intense competition from Anthropic, and streamline the business as OpenAI prepares for a potential $1 trillion Initial Public Offering (IPO) later this year. The Push for an “Agentic Future” In an internal memo, OpenAI co-founder and President Greg Brockman explained that the company’s product lines are naturally converging. The goal of the consolidation is…
India’s banking and financial services (BFSI) sector has emerged from the Q4FY26 earnings season with strong fundamentals, characterized by improving asset quality, stable credit growth, and sharply declining credit costs. A comprehensive sector report by Axis Securities maintains a highly constructive outlook for the industry over the next two years. The brokerage highlights that corporate credit demand is recovering steadily alongside resilient retail demand, while previous stress in unsecured lending portfolios has finally begun to ease across geographies. Key Trends Shaping the Financial Sector The Shift to Mid-Sized Lenders: Mid-sized private banks and small finance banks (SFBs) are projected to…