A SpiceJet Boeing 737-700 struck an Akasa Air aircraft at Delhi's Indira Gandhi International Airport on Thursday, damaging both planes and grounding the affected flights. The SpiceJet aircraft sustained damage to its right winglet, while Akasa Air flight QP 1406 suffered damage to its left-hand horizontal stabiliser. Both are structural components whose damage typically triggers mandatory maintenance inspections before an aircraft can return to service. Ground collisions of this type fall under the purview of India's Directorate General of Civil Aviation, which routinely investigates such incidents to determine operational or procedural lapses. The immediate operational consequence is disruption to both carriers' schedules on affected routes. Passengers on either flight face delays pending airworthiness clearance, and both airlines will bear repair and inspection costs. The broader watch point is whether the DGCA initiates a formal inquiry into ground handling or taxiing protocols at IGI, one of India's busiest airports.
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.
