HDFC Bank Names Rajiv Kumar Non-Executive Chairman
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 Raise $1.1 Bn Led by CRED
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.
Airlines pocket fuel savings, fares stay high
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 Invests $900 Mn in CRED, Shah Exits CEO Role
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.
Kunal Shah Leaves CRED to Lead WhatsApp
CRED founder Kunal Shah is stepping down as CEO to lead WhatsApp, as Meta anchors a $900 million Series H round valuing CRED at $4.5 billion. Meta takes a minority stake with no access to CRED's customer data, while Miten Sampat steps in as interim CEO.
Kunal Shah Leaves CRED to Lead WhatsApp at Meta
CRED founder Kunal Shah will lead WhatsApp globally at Meta, which is simultaneously investing $900 million in CRED for a 20% stake at a $4.5 billion valuation. Miten Sampat becomes CRED's interim CEO as the company operates its first profitable year with a fresh RBI payment aggregator licence.
Jio IPO Filing Flags Child Safety Rules as Revenue Risk
Jio Platforms flagged child social media restrictions as a revenue risk in its June 2026 IPO filing with SEBI, citing lower data consumption. The filing omits that telecom-routed age verification could also generate per-check fees for operators like Jio.
Adani Ports Wins 10-Year Argentina LNG Contract
Adani Ports has won a 10-year marine services contract for Argentina's first LNG export project, marking a significant step in its international expansion. The deal adds long-term revenue visibility and deepens the company's presence in high-value global energy infrastructure.
FIFA World Cup Ad Spend in India May Halve
Marketing spends around the 2026 FIFA World Cup in India may fall by half as brands stay away over poor match timings and a late broadcast rights deal. Broadcasters and sports marketers face thinner revenue with little time left for a mid-tournament recovery.
Zee Entertainment Approves Rs 2,300 Crore Fundraise
Zee Entertainment has approved a fundraise of at least Rs 2,300 crore for business initiatives, shortly after signing more than a dozen advertisers for its FIFA World Cup 2026 coverage. The capital raise could help Zee rebuild its balance sheet and fund content investment following the collapse of its Sony merger.
Zee Entertainment Raises $241 Million After FIFA Rights Win
Zee Entertainment plans to raise 23 billion rupees ($241 million) to fund strategic initiatives, following its acquisition of broadcast rights for the 2026 FIFA World Cup in India. The capital raise signals Zee's push to rebuild after the collapse of its Sony merger and compete in live sports content.
Indian Startup Funding Hits Six-Year Low in May
Indian startup funding fell 27% month-on-month to $630 million in May 2026, the lowest monthly total in six years, with Rapido's $240 million Series F accounting for nearly 38% of all capital raised.
Xiaomi Appoints New India Head to Recover Market Share
Xiaomi is replacing India head Alvin Tse with Alexander Tang, who previously oversaw parts of Southeast Asia. The move comes as the company works to reverse falling market share in one of its most important international markets.
Toyota Plans 100,000-Unit Annual Car Plant in India
Toyota plans to build a new car factory in India capable of producing 100,000 units per year. The greenfield plant signals a major long-term bet on Indian demand and positions Toyota to expand its export capacity from the country.
Bullet Trains Threaten Short-Haul Flights on Key Routes
Railways Minister Ashwini Vaishnaw warned that India's bullet train network will dominate short-haul routes like Mumbai-Pune and Hyderabad-Bengaluru, making air travel on those corridors uncompetitive.
NTPC Files First Nuclear Feasibility Study for 2 GW Target
NTPC is submitting its first nuclear feasibility study to the Department of Atomic Energy to secure approval for standalone nuclear projects. The company targets 2 GW of nuclear capacity by 2032 and is evaluating sites in Bihar and other states.
Toyota Q4 Profit Crashes 49% on U.S. Tariffs
Toyota's fourth-quarter net profit fell 49% year on year in the quarter ended March, badly missing analyst expectations, even as revenue rose 1.89%. U.S. tariffs drove the gap, compressing margins sharply despite steady sales volumes.
Indian Banks Shift West Asia Staff, Activate Continuity Plans
Indian banks have activated contingency plans and moved some staff and wholesale operations back to India amid the Iran-US conflict. The shift raises near-term concerns for trade finance and remittance flows through a region critical to India's foreign exchange earnings.
Noel Tata Resists Tata Sons IPO Amid Internal Split
Noel Tata is opposing a public listing of Tata Sons despite two trustees set to formally propose an IPO at an upcoming board meeting. The move is driven partly by RBI regulations and would benefit minority shareholder Shapoorji Pallonji Group by giving its stake a tradeable market value.
Boeing Heads to Civil Trial Over 737 MAX Crashes
Boeing is set to face a civil trial connected to its 737 MAX crashes, which killed 346 people across two accidents in 2018 and 2019. The trial keeps legal and financial pressure on the company as it already wrestles with production issues and regulatory scrutiny.