Category Archives: Business

India’s Forex Reserves Jump $14.1 Billion, Cross $707 Billion

Mumbai, August 15, 2026: India’s foreign exchange reserves surged by $14.136 billion in the week ended August 7, taking the country’s total reserves past the $707 billion mark, according to data released by the Reserve Bank of India (RBI).

The sharp weekly increase was led by a rise in foreign currency assets (FCAs), which grew by nearly $9.95 billion to $574.63 billion. Gold reserves also recorded a strong increase of about $4 billion, reaching $108.74 billion.

In rupee terms, the country’s reserves rose by around ₹1.20 lakh crore, reaching ₹67.32 lakh crore during the reporting week. The latest figures underline the strengthening of India’s external financial buffer at a time when global markets remain sensitive to geopolitical and currency-related risks.

The latest jump also reflects increased foreign currency inflows following measures introduced by the RBI to attract overseas deposits and strengthen the country’s balance of payments. India’s reserves have risen by roughly $40 billion over the past six weeks, according to Reuters.

While the reserves remain below the record $728.49 billion reached in February 2026, the latest rise provides greater room for the RBI to manage external shocks and volatility in the rupee and global financial markets.

Telangana to Court Global Investors at ‘Invest Telangana’ Summit in December

Hyderabad, August 15, 2026: Telangana is getting ready to make a fresh pitch to investors as it hosts the Telangana Rising Global Summit 2.0 from December 7 to 9. This year’s event will carry a clear message — “Invest Telangana” — as the state looks to attract new businesses, capital and jobs.

The summit will bring together investors, industry leaders and policymakers, with the government expected to showcase opportunities across sectors such as defence, aerospace and pharmaceuticals.

A major focus will be the unveiling of the Future City Master Plan, which is expected to outline Telangana’s vision for planned urban growth, infrastructure and new economic opportunities.

For the state government, the summit is more than a three-day business gathering. It is an opportunity to turn investor interest into actual projects and strengthen Telangana’s position as one of India’s key destinations for industrial and technology-led investment.

The December event is also likely to put Telangana’s infrastructure, policy environment and sector-specific opportunities in the spotlight as the state competes for a larger share of domestic and global investment.

Government Cuts Export Duties on Petrol, Diesel and ATF

New Delhi, August 15, 2026: The Centre has reduced export duties on petrol, diesel and aviation turbine fuel (ATF), with the revised rates coming into effect from Saturday. The move follows the government’s latest fortnightly review of petroleum product export levies.

Under the revised structure, the export duty on petrol has been brought down to zero from ₹3.50 per litre. The levy on diesel has been reduced to ₹24 per litre from ₹25.50, while the duty on ATF has been lowered to ₹19.50 per litre from ₹22.

The latest changes apply only to petroleum products cleared for export and do not alter the excise duty applicable to fuel sold in the domestic market.

The revision comes less than two weeks after the government had increased export levies on the three fuels amid volatility in international crude and refined fuel prices. Export duties are reviewed every fortnight based on prevailing global prices.

The policy is aimed at balancing export economics with domestic availability of petroleum products, particularly during periods of heightened global energy-market uncertainty.

FM Sitharaman Meets 86 PM Internship Scheme Interns, Highlights Pathways to Jobs

New Delhi, August 15, 2026: Union Finance and Corporate Affairs Minister Nirmala Sitharaman interacted with 86 interns from 24 partner companies under the Prime Minister Internship Scheme (PMIS), discussing their workplace experiences, skills gained and career aspirations.

The interaction highlighted how industry exposure is helping young people move beyond classroom learning and develop practical, job-ready skills. Several interns who performed well during their assignments have also received full-time employment offers from their respective companies.

Sitharaman said the internship programme was developed after consultations with industry to address the gap between the skills employers seek and the practical exposure available to many young graduates. She encouraged interns to approach their work with professionalism, responsibility and attention to quality.

The event also featured success stories from interns who used the programme to explore new career fields. One beneficiary with an IT background gained experience in finance through an internship with the National Stock Exchange and is now looking towards a career in fintech. Another intern secured a full-time opportunity with Alkem after completing her internship.

The government has positioned PMIS as a key youth-focused initiative aimed at improving employability through hands-on industry experience, professional training and exposure to leading companies.

Nifty, Sensex End Week Lower as Rising Crude Prices Pressure Markets

Mumbai, August 15, 2026: Indian equity markets ended the week on a weaker note, with the Nifty 50 declining 0.8% to 24,366 and the BSE Sensex falling 0.6% to 78,009.25. The decline ended a two-week run of gains for both benchmark indices.

Rising crude oil prices emerged as a key concern for investors, with Brent crude climbing about 4.6% to around $87 a barrel amid renewed geopolitical uncertainty and stalled peace negotiations in West Asia. Higher oil prices are particularly significant for India because of the country’s dependence on imported crude.

Market sentiment was also affected by weakness across several major sectors. Financial stocks declined around 1%, while metal stocks fell 1.9%. Reliance Industries and Tata Motors were among the notable drags, with Tata Motors declining sharply following a weaker quarterly profit performance.

Despite the weekly decline, strong corporate earnings, a relatively stable rupee and improved foreign investor participation offered some support to the market. Analysts are likely to closely track crude prices, geopolitical developments, global market cues and upcoming corporate results in the sessions ahead.

Finkurve Financial Services delivers strong Q1 FY27 performance; AUM grows 134.5 percent YoY to INR 1,270.4 Cr and PAT rises 65.8 percent YoY

Mumbai, August 14, 2026: Finkurve Financial Services Limited (NSE: FINKURVE; BSE: 508954), one of the leading tech-first gold loan NBFCs, announced its financial performance for the quarter ended June 30, 2026.

Finkurve Financial Services Limited continued its growth trajectory in Q1 FY27, with Assets Under Management (AUM) rising 134.5% YoY to INR 1,270.4 crore, including off-book AUM of INR 38 crore. The Company also expanded its branch network to 118 branches from 83 a year ago, serving 31,522 active gold loan customers as of June 30, 2026.

The quarter saw continued momentum in the Company’s gold loan business, supported by deeper geographic reach and an expanding customer base. Average gold loan per branch increased to INR 10.3 crore from INR 5.8 crore in Q1 FY26, reflecting improved branch productivity.

Financial performance remained robust, with total income increasing 89.37% YoY to INR 75.82 crore from INR 40.04 crore in Q1 FY26. Profit Before Tax (PBT) stood at INR 11.21 crore, up 64.06% YoY, while Profit After Tax (PAT) increased 65.78% YoY to INR 8.44 crore.

The Company maintained a stable asset quality profile during the quarter, with Gross NPA at 0.54% and Net NPA at 0.48%. Capital Adequacy Ratio stood at a healthy 26.6%, providing a strong capital base to support the Company’s growth plans.

Finkurve also strengthened its funding ecosystem during the quarter by onboarding Franklin Templeton as its first AIF investor through the issuance of INR 50 crore NCD.

On the governance and leadership front, Mr. Rajendran Chinna Veerappan was appointed as Director (Non-Executive, Non-Independent). The Company also appointed Mr. Raju Shah as Chief Risk Officer and Mr. Husain Pittalwala as Head of Compliance, further strengthening its risk management and compliance framework.

NITCO records 26 percent revenue growth in Core Business in Q1 FY27; continues strong business momentum

Mumbai, 14th Aug 2026: NITCO Limited, one of India’s leading premium surfaces brand, announced its consolidated financial results for the quarter ended June 30, 2026, reporting strong year-on-year growth in its core Tiles, Marble and RelatedProducts business, reflecting continued market momentum and growing demand for its premium surfaces portfolio.

For Q1 FY27, NITCO’s consolidated revenue from the core business products stood at INR 114.74 crores, registering about 26% year-on-year growth over INR 91.24 crores in Q1 FY26. The strong performance highlights the continued traction of NITCO’s core business and the growing acceptance of its premium Tiles and Marble portfolio.

On a consolidated basis, Revenue from Operations stood at INR 116.01 crores, while Total Income stood at INR 118.51 crores for the quarter.

The Company also continued to strengthen the performance of its core tiles and marble products segment. The segment’s performance before finance costs and other income improved year-on-year, reflecting the Company’s ongoing focus on operational efficiency and strengthening its core business.

Commenting on the performance, Vivek Talwar, Chairman and Managing Director of NITCO Limited, said: “Q1 FY27 has started on an encouraging note for NITCO, with our core business delivering strong year-on-year growth. This performance reflects the continued strength of our brand, growing market acceptance of our premium surfaces portfolio and focused execution across our business. We remain committed to strengthening our market presence, expanding our product portfolio and creating sustainable long-term growth.”

The Company continues to focus on strengthening its premium portfolio across Tiles, Marble and Mosaic, expanding its retail footprint, deepening channel partnerships and enhancing operational efficiencies. With a continued focus on product innovation, premiumisation and market expansion, NITCO remains well positioned to build on the momentum through FY27.

STUDDS launches limited-edition Nardo Grey series across seven helmets, with only 1,947 units produced: A nod to the year India gained independence

Mumbai, Aug 14: STUDDS Accessories Ltd., one of the world’s two-wheeler helmet manufacturers, has launched a limited-edition Nardo Grey colour range across seven of its most popular helmet models, timed to India’s 80th Independence Day. Only 1,947 units have been produced across both gloss and matt finishes. The number is an ode to 1947, the year India gained independence.

Nardo Grey has its roots in the Nardo Ring, a high-speed test circuit in southern Italy, where it first appeared on the Audi R8 and became a defining colour of European performance car culture. The shade’s strength is restraint: form and geometry carry the design, not graphics or finish. That quality has driven its crossover into motorcycle culture globally, and Indian riders are following the same trajectory. A growing segment is moving towards cleaner, more considered colour choices, and the Nardo Grey series is STUDDS’s answer to that shift.

The Independence Day timing carries its own logic. Grey is the operational colour of India’s defence forces: Su-30MKI fighter jets fly in low-observable grey, INS warships sail in battleship grey, and the Indian Army has operated in grey-toned camouflage across theatres. STUDDS has built this launch around that connection that Freedom wears grey. STUDDS calls it The Colour of Honour.

Speaking on the launch, Mr. Sidhartha Bhushan Khurana, Managing Director, STUDDS Accessories Ltd., said,

“Our armed forces embody the ultimate expression of strength, discipline, and silent resilience. With The Colour of Honour, we wanted to bring that same ethos to everyday riders. The Nardo Grey range is a tribute to the tactical aesthetics of our defence forces and a commitment to providing world-class safety to every motorcyclist in India.”

The series spans seven models, each bringing Nardo Grey into a different riding life.

·Helios: premium full-face for the highway rider, engineered for stability and noise reduction at speed.

·Trooper: modular design with a dual-visor mechanism for riders who move between city and open road.

·Ninja Elite Super: flip-up built for mixed conditions, city traffic to open highway without switching helmets.

· Drifter: street-styled full-face with dynamic ventilation for the rider who wants track aesthetics for daily use.

·Raider Super: lightweight urban full-face, compact and built for daily commuters who want full protection without bulk.

· Vogue: open-face with clean ergonomics and unobstructed vision for the city rider.

·Ray Super: wide-visioned open-face designed for comfort across long city hours.

Every helmet in the Nardo Grey edition meets Indian Safety Standards , with two models also carrying DOT certification. The range features high-impact thermoplastic outer shells, regulated-density EPS liners, UV-resistant lacquer to prevent fading, hypoallergenic breathable comfort padding, and quick-release micro-metric chin strap buckles.

The Nardo Grey series is the product centrepiece of “#TheColourOfHonour”, STUDDS’ Independence Day campaign running across Instagram, Facebook, and YouTube. The campaign is also marking the occasion by supporting a group of riders on a journey from Bihar to Nepal: a celebration of the road, the country, and the freedom both represent.

1,947 units. A number chosen to honour 1947, the year India became a free nation- These units are now with authorised STUDDS dealers across the country and will be available at retail outlets shortly. Riders can also watch for availability at shop.studds.com. Once these are gone, they are gone.

Fitclass Expands Footprint with New Gym in Greater Noida, Takes Its Network to 25 plus Gyms

Greater Noida, August 14: Fitclass, India’s rapidly expanding premium fitness brand, has announced the launch of its new gym in Knowledge Park 2, Greater Noida, further strengthening its presence across the National Capital Region. With the latest launch, Fitclass says it has grown to a network of 25+ gyms since its inception in 2026, marking an accelerated expansion journey in the organised fitness space. 

Located at India Expo Plaza, Knowledge Park 2, Greater Noida, the new facility brings together structured training, expert-led fitness programmes and wellness offerings under one roof. The centre offers fitness programmes spanning strength training, weight management, personal training, yoga, Pilates and other fitness formats. 

The expansion comes as the Indian fitness industry continues to move beyond conventional gym memberships towards more comprehensive fitness destinations that combine training, recovery, personalisation and community. Fitclass has positioned its model around this shift, with its centres offering a combination of modern equipment, expert trainers, group workouts and recovery-focused amenities. 

A key part of Fitclass’ growth strategy is its franchise-led expansion model. The company is building what it describes as a scalable fitness ecosystem, with its franchise proposition focused on multiple operating models and standardised systems. Fitclass currently identifies Delhi NCR as its first expansion phase, followed by plans to enter the top eight metropolitan cities and subsequently scale its franchise presence nationally. 

Speaking about the expansion, Gajender Singh, Founder & CEO, Fitclass, said, “The launch of our Greater Noida centre is an important milestone in our expansion journey. We started Fitclass with a simple objective to build fitness centres that deliver a stronger experience for members while creating a commercially viable model for our partners. Reaching 25+ gyms within a short period reflects the demand we are seeing for professionally managed, premium fitness spaces. We believe the next phase of growth will come from taking this model beyond the established fitness markets and creating a wider footprint across India.” 

Atif Malik, Head of Expansion, Fitclass, added, “Greater Noida is an important market for us because of its young population, growing residential communities and rapidly developing commercial ecosystem. Our expansion strategy is built around identifying high-potential micro-markets and creating fitness destinations that can serve both members and business partners effectively. We are particularly focused on building a model where operational efficiency, member experience and investment viability work together. This is also why Fitclass has emerged as one of the fastest-ROI propositions in the fitness space, according to our internal business performance.” 

Fitclass describes itself as a premium fitness brand built around the idea of offering more than a conventional gym, combining training, wellness and recovery. Its membership ecosystem includes gym access, group classes, personal training, body composition assessment and, depending on the membership plan, amenities such as ice baths, steam rooms, recovery facilities and access across its network. 

The company’s franchise proposition currently highlights an average base of 1,000+ members per location and projected monthly revenue of ₹25 lakh+ per location, while its broader roadmap includes expansion from Delhi NCR into major metropolitan markets and eventually a pan-India franchise rollout.

With the Greater Noida launch, Fitclass aims to deepen its presence in NCR while continuing to build a scalable network of premium fitness centres across India.

Where to Travel This Independence Day Weekend

Aug 14: The Independence Day weekend offers the perfect opportunity to step away from the everyday and rediscover the joy of travel. Whether you’re looking to reconnect with yourself through a wellness retreat, immerse yourself in India’s rich heritage, venture into the wilderness, or enjoy the comforts of a luxury city stay, a thoughtfully planned getaway can make the long weekend truly memorable. These handpicked destinations promise enriching experiences, exceptional hospitality, and the ideal setting to unwind, explore, and celebrate the spirit of the season.

This Independence Day, Discover the Freedom to Return to Yourself with Six Senses Vana

This Independence Day, embrace a different kind of freedom at Six Senses Vana-one that begins by creating space to slow down, reconne T ct with yourself, and simply be. Every stay is shaped around a personal intention, with expert practitioners curating a bespoke wellness journey designed to restore balance, cultivate healthier habits, and foster lasting well-being beyond the retreat. Rather than following a fixed programme, each Vanavasi experiences a thoughtful blend of wellness consultations, Ayurveda, Yoga, Tibetan Medicine, Natural Healing Therapies, movement, mindfulness, and nourishing cuisine, all tailored to individual goals, whether improving sleep, managing stress, restoring energy, enhancing mobility, or finding moments of stillness. Guests visiting during the Independence Day week can also take part in the Mystic Music Retreat with Vipul Rikhi (11–17 August 2026), an immersive exploration of India’s rich traditions of mystic poetry, music, and storytelling. Rooted in the teachings of Kabir, Meera, and Rumi, the retreat encourages presence, reflection, and meaningful connection through shared cultural experiences, culminating in a profound sense of healing through music. More than a getaway, Six Senses Vana offers an opportunity to turn inward, reconnect with your intention, and rediscover a sense of balance that stays with you long after you leave.

Discover a New Luxury Escape This Independence Day at The Aarlis Hotel Panchkula

This Independence Day, discover The Aarlis Hotel Panchkula, Vignette Collection, marking the debut of IHG Hotels & Resorts’ first Vignette Collection hotel in India and South West Asia. Set against the picturesque Shivalik Hills in the heart of Panchkula, the 145-room luxury hotel offers a refined staycation just a short drive from Delhi NCR. Ideal for a leisurely weekend, guests can explore five distinctive dining destinations- from all-day dining at Sapio and contemporary Indian and European cuisine at Cabinet V to artisanal bakes at Wakerie, handcrafted cocktails at Jigger and rooftop evenings at Sky VI overlooking the Shivalik Hills. Evenings unfold with Venu-Nada, the hotel’s signature ritual, where the warm glow of traditional oil lamps is accompanied by live flute and tabla performances, celebrating the cultural spirit of the destination. Guests can unwind at the spa, relax by the swimming pool and private cabanas, or retreat to The Aarlis Lounge to soak in the tranquil surroundings. For those looking to venture beyond the hotel, nearby attractions including Morni Hills, Sukhna Lake, the Rock Garden and Chandigarh’s Capitol Complex offer the perfect opportunity to discover the region. Whether you’re planning a relaxing staycation or an Independence Day getaway, The Aarlis Hotel Panchkula brings together luxury, culture and a true sense of place.

Celebrate Independence Day Amidst Rajasthan’s Royal Heritage at Six Senses Fort Barwara

This Independence Day, escape to the heart of Rajasthan and experience a destination where centuries of history meet transformative well-being. Set within a sensitively restored 14th-century fort, Six Senses Fort Barwara offers an immersive retreat that blends regal heritage, authentic local experiences, and holistic wellness. Spend your days exploring the fort’s storied architecture, discovering the cultural richness of the region, indulging in locally inspired cuisine, or unwinding with personalised wellness therapies at the Six Senses Spa. For those looking for a shorter escape, the daycation experience offers an opportunity to soak in the setting, cuisine and experiences of the fort without an overnight stay. Whether you’re seeking a restorative getaway or a deeper connection with Rajasthan’s timeless traditions, Six Senses Fort Barwara offers a memorable escape where history, culture, and well-being come together.

A Wildlife Escape for the Independence Day Weekend

This weekend, escape to Jim Corbett Marriott Resort & Spa, set between the Malani Hills and the calm Kosi River. Indulge in Ayurvedic therapies at Quan Spa, savour Kumaoni flavours at The Corbett Kitchen, and end the evening with cocktails at Sal Bar. For adventure, sunrise safaris and village trails make for unforgettable moments. Whether with family, friends, or on your own, it’s the perfect getaway for a mindful reset.

 Celebrate the Spirit of Independence in the Pink City at InterContinental Jaipur Tonk Road

Steeped in royal heritage, vibrant culture, and timeless architecture, Jaipur offers the perfect setting for an enriching Independence Day weekend. Whether it’s exploring iconic forts and palaces, wandering through bustling bazaars, or discovering the city’s rich culinary traditions, the Pink City promises an unforgettable blend of history and contemporary charm. Ideally located to experience the best of the destination, InterContinental Jaipur Tonk Road provides a sophisticated retreat with thoughtfully designed accommodations, exceptional dining, and warm hospitality—making it the perfect base to unwind after a day of exploring Rajasthan’s capital.

Celebrate Freedom, Flavours and Heritage at voco Amritsar This Independence Day

This Independence Day, let voco Amritsar take care of the itinerary. Thoughtfully curated to bring guests closer to the city’s history, culture and culinary heritage, the hotel offers immersive city tours covering iconic landmarks including the Golden Temple, Jallianwala Bagh, the Partition Museum and the Attari-Wagah Border, while heritage walks and curated food trails offer a deeper connection with the soul of Amritsar. Back at the hotel, guests are welcomed with the beats of a live dhol performance and a refreshing artisanal lassi before indulging in authentic Amritsari delicacies alongside international cuisine at Saffron. Between exploring the city and unwinding over an elegant open-air high tea on the lush lawns, enjoying a rejuvenating therapy at Tattva Spa, or ending the evening with handcrafted beverages at Plum Lounge, every moment is designed to celebrate the warmth and spirit of Punjab. More than just a long weekend escape, voco Amritsar offers an Independence Day experience that invites travellers to discover the city’s stories, savour its flavours and celebrate the spirit of Punjab.

Experience the Soul of the Thar at Suryagarh Jaisalmer

This Independence Day weekend, journey to the heart of the Thar Desert and experience Rajasthan through the lens of Suryagarh Jaisalmer, a destination that goes beyond hospitality to celebrate the region’s living heritage, culture, and traditions. Conceived as a gateway to the desert, Suryagarh invites guests to discover the timeless spirit of Jaisalmer through thoughtfully curated experiences that reveal stories, landscapes, and customs that have shaped this remarkable region for centuries. Whether it’s venturing into the golden dunes, exploring centuries-old forts and villages, savouring the rich culinary traditions of Marwar, or unwinding within the serene courtyards and gardens of the fort-inspired hotel, every moment is designed to foster a deeper connection with the destination. From intimate cultural evenings under starlit skies to immersive desert experiences and warm, intuitive hospitality, Suryagarh offers an Independence Day escape that celebrates the freedom to slow down, reconnect with India’s rich cultural legacy, and create memories that linger long after the journey ends.

Step into the Life of a Maharaja at Narendra Bhawan Bikaner

This Independence Day weekend, discover a side of Rajasthan that is rich in character, history, and storytelling at Narendra Bhawan Bikaner. Once the residence of the last reigning Maharaja of Bikaner, Narendra Singhji, the hotel reimagines royal living through a deeply personal narrative, blending heritage with contemporary design and thoughtful hospitality. Every corner reflects the Maharaja’s extraordinary life and eclectic tastes, inviting guests to experience Rajasthan through a lens that is both intimate and unexpected.

Beyond the hotel, Bikaner’s vibrant legacy unfolds through iconic landmarks such as the magnificent Junagarh Fort, grand palaces, historic temples, bustling bazaars, and the city’s distinctive culinary traditions. Whether exploring the cultural richness of the destination, lingering over immersive dining experiences, or simply unwinding in the hotel’s artfully curated spaces, Narendra Bhawan offers an Independence Day escape that celebrates the timeless charm of Rajasthan while inviting travellers to slow down, discover new stories, and create meaningful memories.