Mumbai civic life, transport, business, culture and sport.
Walmart-owned PhonePe has received SEBI approval for its IPO, a key step toward a major listing for India’s digital payments sector as investors weigh revenue mix, profitability trajectory and growth.
Walmart-backed PhonePe has received SEBI approval for its IPO, a major step toward one of India’s most-watched fintech listings. Reports said the issue is expected to be an offer-for-sale by existing shareholders, with the company preparing to file updated draft papers.
India’s gems and jewellery sector has urged the government to cut GST and rationalise customs duties in the Union Budget 2026–27, arguing that reforms are needed to boost exports and competitiveness amid global demand uncertainty. Industry voices say predictable taxation and easier compliance could help strengthen India’s position in a major employment and export-linked sector.
Veteran banker and industrialist Uday Kotak has been named among the Padma Bhushan awardees as part of the Padma Awards 2026 list announced on the eve of Republic Day. The recognition highlights his long-standing contribution to India’s financial sector and the evolution of banking and capital markets.
India’s gems and jewellery sector has urged the Centre to rationalise GST, reform customs procedures and recalibrate import duties to boost export competitiveness before Union Budget 2026-27. Industry bodies say changing global trade conditions and higher tariffs in key markets make lower friction and clearer policy frameworks critical for keeping India strong in diamonds and jewellery value chains.
Hyundai Motor India said it will raise prices by about 0.6% across its model range from January 1, 2026, pointing to rising costs of precious metals and commodities.
Gold prices in Delhi were reported steady at elevated levels on January 25, 2026, with 24-carat gold at ₹1,60,410 per 10 grams and 22-carat gold at ₹1,47,050. Silver was quoted at ₹3,35,000 per kilogram, keeping bullion in sharp focus for buyers and investors.
Ahead of the Union Budget 2026–27, India’s gems and jewellery sector has pitched for lower GST, changes in import duties and policy reforms aimed at improving export competitiveness and easing compliance pressures.
Indian equity benchmarks ended lower after the RBI policy, with analysts pointing to muted sentiment amid persistent foreign fund outflows and mixed quarterly earnings. Profit-taking was seen across sectors including banking, oil and gas, FMCG and power, while select stocks moved on company-specific results.
Walmart-backed PhonePe has received regulatory clearance from SEBI for its much-anticipated public listing, though it must file updated draft papers before proceeding. Reports say the IPO is planned as a pure offer-for-sale by existing shareholders, positioning it among the largest fintech listings and keeping market focus on valuation, timing and shareholder dilution rather than fresh capital infusion.
Indian stock exchanges will remain closed on Monday, 26 January 2026 for Republic Day, with no trading across equity, derivatives and other segments. Commodity trading on MCX will also be suspended for the day, and normal operations are set to resume on Tuesday, 27 January.
RBI Governor Sanjay Malhotra has welcomed the government’s move to revise the base year for major macro indicators—GDP, inflation (CPI) and industrial output (IIP)—saying updated series can improve the quality of economic signals used in policymaking. The overhaul is expected to refresh baskets, weights, data sources and methods, with new releases slated from February 2026 onward.