The Department of Telecommunications has cut Vodafone Idea's adjusted gross revenue dues to ₹64,046 crore, down from an earlier estimate of ₹87,695 crore. The revision follows directions from the Supreme Court of India and is calculated as of December 31, 2025. DoT has also allowed staggered payments, giving Vodafone Idea room to pay the amount in instalments rather than as a lump sum. AGR dues are government charges owed by telecom companies based on their total revenue, not just their core telecom earnings. The Supreme Court's earlier rulings on AGR calculations sparked years of disputes, and Vodafone Idea has been among the most exposed operators. The reduction of roughly ₹23,649 crore in dues is material for a company that has struggled with debt and cash flow. Staggered payments ease the near-term liquidity pressure and could improve Vodafone Idea's ability to fund network upgrades and stay operationally viable. Watch whether this revised figure triggers further legal or regulatory clarifications, and how quickly Vodafone Idea can stabilise its finances under the new payment structure.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
