Dave Ramsey-affiliated personal finance personality George Kamel is urging consumers enrolled in debt relief programs to exit those arrangements immediately. Kamel's warning targets clients of debt settlement and debt relief companies, which negotiate reduced payoffs with creditors on behalf of borrowers who have stopped making payments. The advice reflects longstanding criticism that these programs damage credit scores, expose clients to creditor lawsuits during the negotiation period, and generate substantial fees that erode any savings on forgiven balances. Debt relief firms typically charge 15% to 25% of enrolled debt as fees, and the IRS generally treats forgiven debt above $600 as taxable income, creating a secondary liability many clients do not anticipate. Kamel's position aligns with the broader Dave Ramsey organization's advocacy for direct debt payoff strategies over third-party negotiation. Consumers currently enrolled should assess outstanding fee obligations, the status of any creditor legal actions, and the tax exposure on settled balances before making any transition decision.
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.
