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How India is trying to attract foreign capital

As the rupee came under pressure from rising crude oil prices, geopolitical tensions in the Middle East and sustained foreign portfolio investor (FPI) outflows, the government and the Reserve Bank of India rolled out a set of measures over Friday and Monday aimed at attracting foreign capital and strengthening India's external position.The RBI, while keeping the repo rate unchanged at 5.25% in its June monetary policy review, unveiled a package to boost dollar inflows. Simultaneously, the government followed up with a tax ordinance exempting foreign investors from taxes on investments in government securities. Together, the measures are designed to improve India's balance of payments, ease pressure on the rupee and make Indian debt markets more attractive to overseas investors.Also Read: India scrapping tax for foreign investors in govt bonds aimed at inclusion in Bloomberg index, govt official saysSo, why were policymakers worried?The West Asia conflict and its impact globally is no secret. The ripple effects are real. The rupee had come under pressure in recent weeks trading in the range of ₹95.20 to ₹95.80 against the US Dollar as crude oil prices surged following the escalation of the Iran-Israel conflict, raising concerns over India's import bill and current account deficit. However, a surprise sprang on Monday when India reported a current account surplus of $7.1 billion in the fourth quarter of FY26. The RBI's package1. Concessional forex swap facility for overseas borrowingsThe RBI introduced a special dollar-rupee swap facility at a concessional rate for public sector entities and banks raising funds overseas. The facility will remain available until September 30.Companies often borrow abroad but must hedge currency risk. Hedging can be expensive. By lowering that cost, the RBI is encouraging more overseas borrowing and, consequently, more dollar inflows into India.2. RBI to bear hedging costs on FCNR(B) depositsOn Monday, the RBI issued detailed guidelines for the FCNR(B) deposit scheme announced during the monetary policy.Also Read: Deposits under RBI's latest foreign currency non-resident bank scheme will carry one-year lock-inUnder the framework, banks can mobilise fresh FCNR(B) deposits with maturities of three to five years between June 8 and September 30 and swap the dollar inflows with the RBI. The swap window will remain available until October 16. The central bank will bear the entire hedging cost, effectively allowing banks to hedge these deposits at par. Banks can also offer leverage against such deposits.The RBI also exempted these deposits from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements, improving the economics of mobilising foreign currency deposits.To ensure stability of inflows, deposits raised under the scheme will carry a mandatory one-year lock-in period. Banks will not be allowed to cancel swaps undertaken with the RBI before maturity. The RBI further exempted swap positions arising from FCNR(B) deposits from net unhedged foreign exchange exposure calculations.This is the closest India has come since the 2013 FCNR(B) mobilisation scheme launched during the rupee crisis. By eliminating hedging costs, providing CRR and SLR relief, relaxing regulatory treatment and offering a dedicated swap window, the RBI is giving banks a strong incentive to attract dollar deposits from overseas Indians. Why analysts think this scheme could be bigger than 2013Brokerage Jefferies believes the latest package could attract $50-70 billion of foreign currency inflows, substantially higher than the inflows generated under the 2013 FCNR(B) scheme.The brokerage argues that the current framework is more attractive than the one introduced during the rupee crisis more than a decade ago. While banks had to bear hedging costs of around 3.5% under the 2013 scheme, the RBI is now absorbing the entire cost. The deposits are also exempt from CRR and SLR requirements, similar to the earlier programme.A key difference this time is the ability to use leverage. Jefferies noted that the RBI has permitted banks to provide standby letters of credit (SBLCs), potentially allowing depositors to amplify returns through leverage. According to the brokerage, this could significantly improve the attractiveness of FCNR(B) deposits for overseas investors.3. Expansion of the Fully Accessible Route (FAR)The RBI expanded the FAR framework to include all new 15-year, 30-year and 40-year government securities and removed concentration limits for foreign investors.Large global investors, including pension and sovereign funds, prefer long-dated bonds. The move widens the universe of Indian government securities available for unrestricted foreign investment.4. Easier access for non-resident investorsThe RBI broadened investment access for individuals residing outside India and eased certain norms governing non-resident participation in Indian markets.The measure aims to tap a larger pool of overseas capital, particularly from the Indian diaspora.The Government's follow-up Tax reliefAfter the RBI's measures, the government issued the Income-tax (Amendment) Ordinance, 2026.5. Capital gains tax exemption on government bondsThe ordinance exempted foreign institutional investors and the Bank for International Settlements from capital gains tax on investments in specified government securities. Earlier, long-term gains attracted a 12.5% tax.1316102436. Interest income tax exemptionThe government also removed taxes on interest income earned by eligible foreign investors from these government securities. Previously, interest income faced a 20% withholding tax.131610254

Why Elon Musk Says This Once Top Job May Be Dead By This Year

Tesla and xAI boss Elon Musk is well-known for making forward-looking statements on AI and its impact

Manapparai murukku makers face price rise crunch

The war in West Asia has triggered a steep rise in the price of various inputs and the packaging material, squeezing the margins for the makers of the famous Manapparai murukku

Siraj ruled out of Ireland and England T20Is; Krishna named replacement

India pacer Mohammed Siraj has been withdrawn from the T20I squads for the Ireland and England tours as part of a workload management programme. The BCCI said the move was precautionary to ensure adequate recovery before a busy season. Prasidh Krishna has been named as his replacement in the Shreyas Iyer-led squad, which also includes teenage sensation Vaibhav Sooryavanshi.

Amsterdam plans higher tourist tax

Amsterdam could significantly reshape its tourism industry under proposals from the city’s new coalition government, including raising the tourist tax to 20%, closing the city’s cruise terminal and buying out businesses in the city centre.The proposals were outlined in a coalition agreement published this week by the city’s ruling parties. According to a report by The Independent, officials said the measures are aimed at reducing the strain that tourism places on public spaces, local infrastructure and residents’ quality of life.Amsterdam currently levies one of Europe’s highest tourist taxes, set at 12% of the overnight accommodation price, while day visitors pay a €15 tourist tax. Under the new plan, the city would increase the rate to 16% next year and then raise it by one percentage point annually until it reaches 20% in 2030.“Amsterdam remains an attractive destination for visitors from all over the world,” the coalition agreement said, as per The Independent report. “Tourism contributes to the city’s economy, but at the same time places significant pressure on public spaces, quality of life and municipal facilities.”Measures target tourism impactThe city government said additional revenue from the higher tourist tax would be used to make Amsterdam cleaner, safer and more liveable for residents and visitors.Among the most notable proposals is the planned closure of Amsterdam’s cruise terminal. The coalition said it wants to “end the option to reach Amsterdam by sea cruise” and will discuss alternatives with the national government and regional authorities.The agreement also proposes buying buildings and businesses in the city centre as part of efforts to transform the area and reduce pressure from tourism, as reported by The Independent.In addition, Amsterdam is considering increasing its entertainment levy, which applies to canal boat tours, boat rentals and other water-based activities, to secure a larger contribution from day visitors.

Setback for Trump as US judge strikes down $100,000 fee: How it impacts H-1B visa aspirants

CBSE marking row pushes Bengaluru students towards Karnataka PU colleges

Concerns over evaluation errors in CBSE’s on-screen marking (OSM) system are prompting Class 11 students in Bengaluru to shift from CBSE schools to PU colleges. Parents and students fear lower scores in core subjects such as Physics, Chemistry, and Mathematics could affect professional course admissions, where board marks are considered alongside CET scores. School administrators report multiple withdrawals despite fee losses, while educators say the controversy is hurting CBSE admissions and may have a greater impact next year.

Fitch trims India's growth forecast to 6.4% as Middle East turmoil clouds outlook

Fitch Ratings has lowered India's FY27 GDP forecast to 6.4% due to rising costs from Middle East conflict impacting consumer spending. While domestic demand remains a driver, higher prices are expected to reduce purchasing power, with the most visible impact in Q2 and Q3 of FY27.

Adani Energy Signs Pact To Buy Smart Meter Firm IntelliSmart For Rs 3,050 Crore

The completion of the deal remains subject to regulatory approvals.

Indian firms turn cautious on hiring: Report

New Delhi, Corporate India is expected to scale back hiring plans in the July-September quarter of this year, signaling a slowdown in hiring momentum, as employers are likely to opt for a more measured approach to hiring amid rising geopolitical challenges, a survey said on Tuesday.According to ManpowerGroup's latest Employment Outlook Survey, the Net Employment Outlook (NEO) for Q3 2026 stood at 48 per cent, down 20 points from the previous quarter but stronger by 6 points since Q3 2025.The Net Employment Outlook (NEO) is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.In the survey of more than 3,100 employers across India conducted from April 1 to 30, 2026, employers cited economic uncertainty, above AI, as the key driver of hiring uncertainty."India's Q3 2026 hiring outlook remains the strongest globally, with a Net Employment Outlook of 48 per cent, reflecting continued employer confidence in the country's growth trajectory despite an increasingly complex business environment," said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.As per the report, 15 per cent of those considering workforce expansion remain optimistic about identifying growth opportunities despite ongoing geopolitical challenges.Among organisations planning to reduce staff, 31 per cent cited economic challenges, while 27 per cent pointed to geopolitical challenges as the primary factor impacting staff decisions. Around 26 per cent of those uncertain about changing staffing cite Geopolitical challenges, and 20 per cent want to keep things stable as a result."While the outlook has moderated from 68 per cent in the previous quarter, the shift reflects a more measured approach to hiring rather than a slowdown in business confidence," Gulati said.According to Gulati, strong activity across manufacturing and services, along with the continued expansion of Global Capability Centres, continues to support hiring demand. At the same time, employers are navigating a broader mix of challenges, including AI-led workforce optimization, softer entry-level hiring demand, global trade uncertainty, and geopolitical developments that are impacting supply chains and business costs.A sector-wise analysis showed that employers across the Utilities & Natural Resources sector reported the highest NEO for Q3 at 61 per cent, followed by finance and insurance at 56 per cent, construction and real estate (55 per cent) and professional, scientific and technical services at 52 per cent."The survey also points to a clear evolution in workforce priorities. Employers are increasingly seeking talent with strong communication, collaboration, and teamwork skills, reflecting the growing need for adaptable and resilient workforces," Gulati said.As businesses continue to navigate changing market conditions, workforce strategies are becoming more focused on capability building, continuous learning, and long-term talent development. Organisations are looking beyond immediate hiring needs and investing in skills that can support productivity, innovation, and sustainable growth, said Gulati.The survey further noted that AI continues to reshape how organizations think about productivity and the workforce, and the Q3 data shows employers aren't ready to hand over the keys to AI entirely.As employers navigate AI integration, people skills command the highest premiums, revealing where human value is increasingly concentrating: communication and collaboration (87 per cent), problem solving (84 per cent), time management (82 per cent)/strong work ethic (82 per cent), the survey said.

Apple Tries Again On AI, Turns To Google For Help

Apple's more deliberate pace in entering the AI frenzy has won praise.

6 contenders, 1 trophy: T20 WWC battle begins

The biggest edition of the ICC Women's T20 World Cup gets underway in England on June 12, with 12 teams competing for the title across 33 matches. As defending champions New Zealand seek to retain their crown, India will aim to complete a rare World Cup double after winning the ODI World Cup last year, while Australia look to re-establish their dominance after a rare trophyless ICC cycle.The tournament's expanded format has heightened competition, but a handful of teams enter as genuine title contenders.India chasing historyNo team apart from Australia has won both the ODI and T20 World Cups in succession. Harmanpreet Kaur's side has an opportunity to achieve that feat after ending India's long wait for a global title with last year's ODI World Cup triumph.Also Read: JioStar bets on mainstreaming women’s cricket fandom with ICC Women’s T20 World Cup campaignIndia's preparations have produced mixed signals. They secured home series victories over Sri Lanka and Australia but struggled on overseas tours, losing a T20 series in South Africa and another in England earlier this month. England recovered from 0-1 down to beat India 2-1, exposing concerns over India's bowling depth in unfamiliar conditions.The batting unit remains India's biggest strength. Smriti Mandhana, Jemimah Rodrigues, Harmanpreet, Deepti Sharma and Richa Ghosh bring extensive experience from English franchise competitions, which could prove valuable during a month-long campaign.India also received a confidence boost in a warm-up match against West Indies, where Bharti Fulmalli struck a half-century and the spin attack delivered a commanding performance.Australia remain the benchmarkAustralia enter the tournament under a new captain after Alyssa Healy's retirement, with Sophie Molineux taking charge of a squad that still boasts some of the most experienced names in women's cricket.Also Read: Form of openers, bowling main areas of concern as India head into T20 World CupEllyse Perry, Beth Mooney, Ashleigh Gardner, Megan Schutt, Alana King and Tahlia McGrath form a battle-tested core capable of thriving in major tournaments. The additions of opener Georgia Voll and left-arm seamer Lucy Hamilton have added fresh depth.Despite not winning a major ICC trophy since 2023, Australia remain the most successful side in Women's T20 World Cup history with six titles and will once again start among the favourites.Defending champions New Zealand eye repeatNew Zealand arrive as defending champions but face the challenge of replacing an experienced generation nearing the end of its international journey.Veterans Sophie Devine, Suzie Bates and Lea Tahuhu remain central to the team's ambitions, while all-rounder Amelia Kerr continues to be one of the most influential players in world cricket. Kerr was instrumental in New Zealand's title-winning campaign in 2024 and remains their biggest match-winner heading into the tournament.The Kiwis are placed in a competitive group featuring hosts England, Sri Lanka, West Indies, Ireland and Scotland.England banking on home advantageEngland will hope familiar conditions can help them end a prolonged wait for an ICC title.The return of captain Nat Sciver-Brunt from injury provides a major boost. England showed their depth during her absence by defeating India in a closely contested T20I series. Youngsters Alice Capsey and Charlie Dean impressed during that series, while experienced campaigners Heather Knight, Danni Wyatt-Hodge and Sophie Ecclestone provide stability.Playing at home and buoyed by strong crowd support, England could be one of the toughest teams to beat.South Africa seek breakthrough momentSouth Africa have come close to global glory several times but are still searching for their first ICC trophy.Led by Laura Wolvaardt, they possess one of the most balanced squads in the competition. Marizanne Kapp remains among the world's premier all-rounders, while the return of experienced pacer Shabnim Ismail strengthens the bowling attack.The Proteas also carry recent confidence after dominating India in a bilateral series before the World Cup. However, being drawn alongside India and Australia in Group A means every match could have semifinal implications.Sri Lanka emerge as dark horsesSri Lanka may not begin as favourites, but few teams enter the tournament with greater momentum.Chamari Athapaththu remains the face of the side, yet Sri Lanka's progress in recent years has been driven by the emergence of a stronger supporting cast that includes Harshitha Samarawickrama, Vishmi Gunaratne, Nilakshika Silva and Kaveesha Dilhari.The concern remains their pace bowling resources. On surfaces that traditionally assist seamers, Sri Lanka's heavy reliance on spin could become a vulnerability in the knockout stages.Group of deathThe tournament's toughest battle could unfold in Group A, where India, Australia and South Africa are all expected to challenge for the semifinals. With only two knockout spots available, one heavyweight could be heading home early.For India, the equation is simple. A maiden Women's T20 World Cup title would not only complete a historic double but also cement the current generation's place among the country's greatest cricket teams.(With inputs from PTI)

Karnataka's 5.2 floor area ratio limit: Check how it could impact homebuyers

Karnataka has significantly boosted its Floor Area Ratio (FAR) for industrial zones, allowing developers to build taller structures. This move, particularly impactful for Bengaluru's booming real estate market, aims to increase housing supply and potentially ease soaring property prices. However, developers will incur premium fees, which might influence buyer costs.

LPG demand drops 20% as Hormuz strains bite

India's fuel consumption rose to 19.93 million metric tons in May, while liquefied petroleum gas consumption continued to decline, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Fuel consumption inched up from 19.47 million metric tons in April, but fell 6.5% from May last year. Data ‌also showed ⁠that ⁠LPG consumption fell about 20% from a year earlier to 2.13 million tons. The country was facing its worst LPG supply crisis in decades due to shipping disruptions in the Strait of Hormuz amid the U.S.-Israeli war with Iran. India buys about 90% of its LPG imports - mainly used for cooking - from the Middle East. The U.S. Treasury ⁠Department said ‌that it had imposed sanctions on a network of individuals, entities, and tankers smuggling Iranian-origin liquid petroleum gas disguised as ⁠Omani LPG to South and East Asia. Data showed gasoline sales were down 6.1% from April and down 3.4% from a year earlier. Meanwhile, diesel consumption was up 1.6% from a year earlier and gained 4.8% month-on-month. India's state-owned fuel retailers increased diesel prices by 2.71 rupees ($0.0283) per litre and petrol by 2.61 rupees, dealers said, the fourth hike in May to recoup ‌some losses driven by higher crude costs. Naphtha sales fell 29% year-on-year, while bitumen consumption, used primarily in road construction, fell 32% from April and ⁠was down about 39% on an annual basis. Fuel oil usage jumped about 24% from a year earlier. India is expected to see slower growth in gasoline and diesel demand this year after a series of price hikes last month, reflecting higher oil costs triggered by the war in Iran, with early signs of stress already visible in the trucking sector.Domestic salesProductMay 2026Apr 2026Mar 2026May 2025Apr 2025Mar 2025Diesel8.738.338.738.598.268.08Petrol3.913.683.783.783.453.51LPG2.132.212.382.682.552.73Naphtha0.670.760.940.950.941.03Jet fuel0.780.770.810.780.770.80Kerosene0.030.030.040.040.030.03Fuel Oil0.630.490.650.500.490.50Bitumen0.520.581.020.860.861.09TOTAL19.9319.4721.3721.3120.2320.70

Silent Threat In Indian Skies? GPS Spoofing Bases Found In Neighbouring Countries, Cases Surge 200% | Exclusive

Sources said there is evidence suggesting such actors may be leveraging communications and airspace-related networks across multiple Asian countries, including Pakistan and Myanmar

US Army's 1st Apache Gunship Crashes Near Hormuz, Both Pilots Rescued

The US military has used Apaches, along with MQ-9 Reaper drones and F/A-18 and F-35 fighter jets, as part of Central Command's operation challenging Iran's effective closure of the Strait of Hormuz to most commercial traffic.

What is circle rate and how does it affect how much you pay for a new home?

Understanding a property's 'circle rate' is crucial for buyers in India. This government-set minimum value, also known as reckoner or guidance value, dictates stamp duty and registration charges, often exceeding the actual sale price. Location, property type, and infrastructure significantly influence these rates, impacting your final cost and negotiation power. Always verify the circle rate before purchasing.

India's Shanti Act "Very Positive": Global Nuclear Watchdog Chief

Rafael Grossi praises India's nuclear reforms and ambitious goals to increase capacity.

US, Israel can't hide their differences on Iran

No wonder Donald Trump swore at his supposed friend and ally Benjamin Netanyahu last week. Within days of that June 1 phone call, Israel and Iran were back on track for the kind of military escalation that can no longer be explained away as a ceasefire breach, presenting a potentially fatal threat to the US president’s attempts to end the war.The cause of their dispute is, on the surface, simple. Israel says the April ceasefire between Tehran and Washington did not cover Lebanon, and that its troops would therefore go on fighting Hezbollah so long as the Shiite group posed a security threat to Israeli’s northern border communities. Iran says the deal did cover Lebanon, which is just another front in the same war — and of course it is.It’s precisely because it sees Hezbollah as a tool of Iran’s Islamic Revolutionary Guard Corps that Israel wanted the war in the first place. Israelis correctly blamed the IRGC for having orchestrated an entire proxy network of militias — from the Houthis in Yemen, to Hamas in Gaza, to Hezbollah in Lebanon — against the world’s only Jewish state. That Iranian strategy contributed directly to the atrocities of Oct. 7, 2023.Also Read: US Army Apache helicopter crashes near Strait of Hormuz, says reportOnly such an Iran-controlled or -inspired network can explain why Hezbollah opened a second front against the Israelis on Oct. 8 of that year, long before it could be described as a response to Israeli military excesses against Palestinian civilians in Gaza. Likewise that Hezbollah would join in the fight again when the US and Israel attacked Iran, in February. And it’s why the Houthis chose this weekend to lob a missile at Israel and announce they were closing the Bab al-Mandeb Strait to Israeli shipping.These last Houthi gestures were largely symbolic. Yet the collective message Tehran seeks to deliver is clear; it is that reports of the death of its so-called Axis of Resistance have been greatly exaggerated. The latest bout of escalation has notably been directed at Israel alone, serving to drive a wedge between it and the US, as it exposed the point at which their interests divide.Tehran on Monday appeared to want to draw a line under spiraling tit-for-tat air and missile strikes, saying it would refrain from further attacks — so long as Israel doesn’t bomb Hezbollah’s strongholds in Beirut. Netanyahu now faces a painful dilemma: Should he obey Trump by limiting his campaign against Hezbollah in the face of Iranian threats, thus granting them a level of impunity and deterrent power? Or should he ignore Trump and unleash the Israel Defense Forces on the Lebanese capital?Also Read: US carriers spent $6. 5B on fuel in April; global profit forecast is cut nearly in halfTehran’s new leaders understand this. No doubt they see it as a win-win for themselves. They know, too, that Hezbollah has recovered some of the military utility it had lost before the war after acquiring remote-controlled first-person view drones that the IDF seem ill-prepared to counter.This would present a genuine predicament to any Israeli government, because popular support for “finishing the job” in Lebanon is high. Netanyahu faces anger from across the political spectrum over his apparent submission of Israeli security interests to American ones.But this isn’t any Israeli government. Not every Israeli leader would have overseen a decades-long security policy that prioritized the suppression of the Palestinian Authority over Hamas, allowing the terrorist group to succeed beyond its wildest dreams on Oct. 7. Nor would every Israeli leader have refused to draw up a political strategy to accompany the use of force that followed in Gaza, the West Bank, and Lebanon — despite being coerced by Trump into recent talks with its central government.As the former Israeli Prime Minister Ehud Barak put it in an article for the liberal Haaretz newspaper on Monday, the story being sold to Israelis — that the IDF could eradicate Hezbollah once and for all if only its hands weren’t tied — is “a dangerous illusion.” The history of previous, painful failed incursions into Lebanon says as much.Nor would every Israeli leader have misled Trump into believing (against the advice of the US military and intelligence community) that assassinating Iran’s supreme leader would swiftly precipitate a collapse of the Islamic Republic as a whole. Nor might they have allowed their country to become quite as diplomatically isolated as it has.It is these strategic failures, amid undoubted military success, that have left Israel with few good options. Netanyahu can hope for a rapid collapse of the regime in Tehran to resolve his dilemma, but that’s unlikely. Alternatively, he can try to persuade the US to join in a long-term mow-the-lawn policy to keep Iran weak, amounting to a forever war. This, too, seems unlikely — or at least not in the interests of the US, its Gulf allies or the global economy.Failing one of these minor miracles, the risk of Israel being forced to accept a peace deal that leaves an enraged and emboldened Islamic Republic in place is real. No doubt Netanyahu, like Trump, believed in February that a short, victorious Iranian war might salvage his dimming political prospects, ahead of the Israeli elections due by October. That was a bad bet.

US army Apache gunship goes down near Strait of Hormuz: Report

A US military Apache helicopter went down near the Strait of Hormuz on Tuesday amidst escalating tensions with Iran. The incident occurred following a significant military campaign launched by Donald Trump's administration against the Iranian regime. The exact cause of the crash, whether enemy action or mechanical failure, remains unconfirmed.