20, Apr 2026
Lumon agrees to acquire Fiscal FX
Foreign exchange and currency risk management Lumon Corporate has agreed to acquire the business and assets of Fiscal FX, marking a major milestone for Lumon as it continues to expand its breadth and quality of service.
Fiscal FX represents the seventh acquisition by Pollen Street Capital-backed Lumon since 2018. The acquisition is expected to be completed later this spring and will help accelerate growth in Lumon’s corporate division both internationally and in the UK.
Vic Darvey, CEO of Lumon, says: “Acquiring Fiscal FX marks another significant step forward as we continue to expand Lumon’s global footprint; uniting expertise, enhancing our capabilities and ultimately, delivering more value to our clients.”
Fiscal FX, a London-based foreign exchange and international payments specialist, has built an exceptional reputation since it’s foundation in 2019, particularly focusing on SMEs and owner-managed businesses.
Over the past six years, Fiscal FX has seen consistent, organic growth, developing a loyal client base of more than 600 corporate accounts across the globe. The company has handled almost £1 billion worth of transactions since it’s inception thanks to outstanding client retention and reliable, recurring revenue.
Archie Scarborough, CEO of Fiscal FX, says: “Joining Lumon is a hugely exciting step for our team and our clients. We’ve built something special over the past six years – a business that genuinely puts its clients first – and I’m proud of what we’ve achieved. Lumon shares those values, and I’m looking forward to what we can build together.”
- 0
- By Neel Achary
20, Apr 2026
India’s Economy Remains Resilient, Equities Near Correction Zone: HDFC Securities
New Delhi, Apr 20 (BNP): India’s macroeconomic outlook continues to show resilience despite ongoing global uncertainties, even as domestic equity markets appear to be entering a phase of near-term correction, according to a latest assessment by HDFC Securities.
The report observed that India’s growth remains supported by strong domestic demand, steady consumption trends, and continued government-led infrastructure spending. These factors are helping cushion the economy from external shocks such as geopolitical tensions and volatile global commodity prices.
At the same time, the brokerage cautioned that equity markets may be undergoing a valuation reset after a period of sustained upward movement. Elevated valuations in select segments, combined with global risk-off sentiment, are contributing to increased volatility and profit-booking.
Market participants are expected to remain cautious in the near term, with global developments likely to influence sentiment and trigger intermittent corrections.
Despite short-term market fluctuations, the broader economic narrative for India remains constructive, supported by structural drivers such as urban consumption growth, investment activity, and policy stability.
Overall, the outlook highlights a clear divergence between a resilient real economy and a more cautious, volatility-prone equity market environment.
20, Apr 2026
FTA Partners’ Share in India’s Trade Rises to 28.8 pc: NITI Aayog
New Delhi, Apr 20 (BNP): India’s trade engagement with its Free Trade Agreement (FTA) partners has strengthened, with their share in the country’s overall trade rising to 28.8%, according to an assessment by NITI Aayog.
The report highlights that while trade diversification is gradually improving, India’s export basket remains heavily concentrated in gems and jewellery, indicating continued reliance on a limited range of high-value export products.
Officials noted that FTAs have played a significant role in expanding market access and deepening trade linkages with key global economies. However, the concentration of exports in select sectors underscores the need for broader product diversification to enhance long-term trade resilience.
The findings also suggest that increasing integration with FTA partners is contributing to higher trade volumes, but structural challenges remain in expanding India’s export base across manufacturing and high-technology sectors.
Experts believe that improving export diversification, strengthening manufacturing capabilities, and boosting value-added production will be crucial for sustaining trade growth and reducing dependency on a narrow set of commodities.
Overall, the report points to steady progress in India’s global trade integration, while also highlighting the need for a more balanced and diversified export strategy.
20, Apr 2026
Over 39,000 Users Voluntarily Surrender LPG Connections as PNG Adoption Rises
New Delhi, Apr 20 (BNP): A nationwide appeal to encourage a shift towards cleaner cooking fuel has gained strong response, with more than 39,000 piped natural gas (PNG) users voluntarily surrendering their LPG connections, according to official data.
The initiative, aimed at promoting cleaner and more efficient energy usage, is part of the government’s broader push to expand the adoption of piped natural gas as a primary cooking fuel in urban households.
Authorities noted that the growing preference for PNG reflects increasing awareness about convenience, safety, and environmental benefits associated with cleaner fuel alternatives compared to traditional LPG usage.
Officials said the response highlights a gradual behavioural shift among consumers, supported by expanding gas distribution infrastructure and improved last-mile connectivity across cities.
The move is also aligned with India’s long-term energy transition goals, which focus on reducing dependence on high-emission fuels and encouraging cleaner household energy solutions.
Industry observers believe that as PNG networks expand further, more households are likely to transition, supporting both sustainability objectives and energy efficiency targets.
Overall, the trend indicates rising acceptance of cleaner cooking fuel solutions, marking a steady shift in India’s domestic energy consumption patterns.
20, Apr 2026
Meesho Allocates Over 94.79 Lakh Shares to Employees Under ESOP Scheme
New Delhi, Apr 20 (BNP): E-commerce platform Meesho has allotted 94,79,380 equity shares to eligible employees under its Employee Stock Ownership Plan (ESOP), reinforcing its focus on employee participation in long-term value creation.
According to a regulatory filing, the allotment was approved by the company’s Nomination and Remuneration Committee through a circular resolution. The shares, with a face value of ₹1 each, have been issued upon the exercise of vested stock options under the company’s ESOP 2024 plan.
The company stated that the newly allotted shares will rank pari passu with existing equity shares, ensuring equal rights for shareholders across all parameters.
With this allotment, Meesho’s issued and paid-up equity capital has increased, reflecting continued expansion in its employee ownership structure as part of its broader talent retention and incentive strategy.
The move highlights the growing trend among Indian new-age technology companies to use stock-based compensation as a key tool to attract, retain, and reward talent in a competitive startup ecosystem.
Overall, the ESOP allotment underscores Meesho’s emphasis on aligning employee interests with long-term business growth and value creation.
20, Apr 2026
TAC Infosec’s Arm Cyberscope Web3 Security Partners with Pionex to Align Security with Trading and Exchange-Ready Environments
Mumbai, Apr 20: Cyberscope, the Web3 security subsidiary of TAC InfoSec Ltd. (NSE: TAC), has entered into a strategic partnership with Pionex, a centralized cryptocurrency exchange known for its built-in trading bots and retail trading infrastructure, as the company expands its presence within trading and exchange-related environments in the digital asset ecosystem
The collaboration is focused on aligning security validation with stages where projects are preparing for trading activity, liquidity expansion, and broader market participation. As digital assets move closer to exchange readiness, the need for structured security validation continues to gain importance.
Pionex provides infrastructure for retail-focused cryptocurrency trading, including integrated trading tools and automated strategies. Through this partnership, Cyberscope’s capabilities in smart contract auditing, protocol assurance, and compliance will be positioned to support projects operating in or preparing for exchange-linked environments.
The partnership reflects an evolving requirement within Web3, where security is increasingly being considered in the context of trading readiness and ecosystem participation, rather than only during development phases. As projects transition toward broader market access, security validation plays a role in supporting reliability and user confidence.
For Cyberscope, the collaboration extends its engagement into stages of the digital asset lifecycle where trading activity and liquidity become central. This includes environments where projects interact with exchanges and user-facing trading platforms, making security an important component of overall ecosystem trust.
The move builds on Cyberscope’s ongoing efforts to align with multiple layers of the blockchain ecosystem. The company is active within the TON ecosystem, a Layer 1 blockchain network, and has previously announced a collaboration with Circle, the issuer of USDC, focused on supporting secure and compliant digital asset infrastructure.
“Trading environments introduce a different set of considerations for Web3 projects,” said Saransh Rawat, CTO at TAC Security and President of Cyberscope. “Security validation plays an important role as projects move toward broader market participation. Our partnership with Pionex is aligned with supporting that transition in a structured manner.”
The partnership comes as digital asset markets continue to evolve, with increasing participation from retail users and growing expectations around security, transparency, and reliability across trading platforms.
Cyberscope continues to expand its presence across global blockchain ecosystems, with capabilities spanning smart contract auditing, protocol assurance, and compliance.
20, Apr 2026
SAEL Launches 600 MW Solar Plant in Andhra Pradesh, Boosts Clean Energy Capacity
New Delhi, Apr 20 (BNP): SAEL Industries has operationalised a 600 MW solar power project in Kurnool, Andhra Pradesh, further strengthening India’s renewable energy infrastructure.
The large-scale project, spread across over 2,400 acres, has been developed in two units of 300 MW each through its subsidiary companies. The plant will feed clean electricity directly into the national grid, contributing to the country’s increasing reliance on sustainable power sources.
To ensure long-term financial stability, the company has secured a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India, providing assured offtake for the generated power.
SAEL stated that the project is expected to offset approximately 11 lakh tonnes of carbon emissions annually, aligning with India’s climate commitments and efforts to reduce dependence on fossil fuels.
The commissioning of the plant highlights the growing pace of large-scale solar deployment in India, driven by policy support, rising energy demand, and the push toward a cleaner energy mix.
Experts note that projects of this scale not only add to generation capacity but also play a crucial role in advancing energy transition goals, improving grid sustainability, and supporting long-term environmental targets.
20, Apr 2026
India, South Korea Push to Upgrade CEPA to Deepen Trade and Investment Ties
New Delhi, Apr 20 (BNP): India and South Korea have renewed efforts to strengthen their economic partnership, with Union Commerce Minister Piyush Goyal holding discussions with his South Korean counterpart on upgrading the existing Comprehensive Economic Partnership Agreement (CEPA).
The talks focused on making the trade pact more aligned with current global economic dynamics, with both sides exploring ways to enhance market access, streamline trade processes, and unlock new investment opportunities.
Officials indicated that revisiting the CEPA is aimed at addressing existing gaps in the agreement while expanding its scope to include emerging sectors such as advanced manufacturing, technology collaboration, and sustainable industries.
The discussions come at a time when both countries are seeking to scale up bilateral trade and strengthen supply chain resilience amid global uncertainties. There is also a shared focus on encouraging greater participation from businesses and investors on both sides.
India and South Korea have maintained strong economic ties over the years, and the move to upgrade the agreement reflects a broader push to build a more dynamic and future-ready partnership.
The proposed revamp of CEPA is expected to support long-term growth in trade volumes, facilitate smoother investment flows, and deepen cooperation across key sectors, reinforcing the strategic economic relationship between the two nations.
20, Apr 2026
Rupee Edges Higher to 92.78 as Crude Oil Slumps Over 5 pc, Easing Import Pressure
Mumbai, Apr 20 (BNP): The Indian rupee opened on a firmer note on Monday, gaining 13 paise to 92.78 against the US dollar, supported by a sharp decline in global crude oil prices and a mildly improved risk tone in early trade.
The domestic currency found relief as Brent crude, the global oil benchmark, fell more than 5% to $95.21 per barrel, easing concerns over India’s import burden. As a major energy-importing economy, India’s currency often tracks movements in crude prices, making oil a key determinant of near-term rupee direction.
Sentiment was also underpinned by expectations of continued stability in monetary conditions, with markets factoring in supportive liquidity management by the Reserve Bank of India, which has helped cushion sharp currency swings in recent sessions.
Despite the early uptick, traders maintained a cautious stance, noting that the rupee is likely to remain confined to a broad range in the near term.
Market participants pointed to persistent geopolitical tensions in West Asia, particularly concerns around disruptions to key maritime trade routes, as a key factor limiting sustained currency appreciation. Any escalation in the region could quickly reverse gains by triggering fresh volatility in global oil markets.
Analysts further observed that while easing crude prices provide short-term support, the rupee’s medium-term direction will depend on a combination of global risk sentiment, foreign capital flows, and India’s trade dynamics.
Overall, the currency’s movement reflects a fragile balance between easing commodity-led pressure and lingering external uncertainties, keeping forex markets alert to sudden shifts in global developments.
20, Apr 2026
Trade Deals, Softening Oil Prices May Help Narrow India’s Trade Deficit: BoB Report
New Delhi, Apr 20 (BNP): India’s record trade deficit is expected to ease in the coming months, supported by anticipated trade agreements and a possible decline in global crude oil prices, according to a recent report by Bank of Baroda.
The report notes that elevated imports, particularly of energy products, have been a key driver of the widening trade gap in recent months. However, easing geopolitical tensions and improved global supply conditions could help stabilise oil prices, providing relief to India’s import bill.
At the same time, ongoing and potential trade deals are expected to improve export competitiveness and support outbound shipments, contributing to a gradual correction in the trade imbalance.
Economists highlighted that India’s external sector remains sensitive to fluctuations in global commodity prices, especially crude oil, which accounts for a significant share of import costs.
The report suggests that a combination of favourable global price trends and stronger trade linkages could help bring down the trade deficit from recent record levels in the near term.
Overall, while external risks remain, the outlook points toward a more stable trade environment if current trends in oil prices and trade negotiations continue.
