Shritama Bose

A year ‌after targeting Jane Street, officials barred a unit of the US bank, alleging it ​manipulated prices. It signals action ​against major funds in the $6 trln ⁠market is accelerating, helped by a ​new system to close trades. Higher entry ​barriers for retail traders may be next.

The trusts controlling the $280 bln Indian group split ownership from management in ​2022, giving the holding ​company its own chair. Chandra’s exit ⁠shows the reform fell short. ​Clearer lines of authority, rather than ​reimposing central control, would serve all stakeholders better.

The $290 bln Indian IT-to-salt group's chair quit after nine years, extending a dismal record on succession. Chandra's early wins gave way to AI headwinds and a row over listing the holding company. His exit removes one distraction but leaves tougher questions over Tata's future.

The $118 ‌bln Indian lender run by Sashidhar Jagdishan used to trade at a big ​book-value premium to Western banks. ​Now their resurgence and the rise ⁠of the country’s capital markets ​have landed blows. And HDFC’s governance ​and margin woes have undermined confidence and earnings.

The French giant may crystallise ‌a 38% return on its 15-year-old investment in SBI Funds as the owner of India's largest ​mutual fund goes public. It validates ​a long gamble on the country's savers ⁠and underlines the value of a locally ​dominant partner like State Bank of India.

Cheaper oil ​and a search ​for shelter from AI exuberance ⁠are luring foreigners ​back after a record $48 ​bln of outflows over 18 months. But bargains are ​scarce: local mom-and-pop ​investors kept adding some $3.5 bln ‌a ⁠month, putting a stronger than expected floor under valuations.

Headcount growth at the $190 bln energy-to-retail group is slowing ​sharply, partly as an ​investment binge for its energy ⁠business fades. But a ​chronic skills shortage will push ​India Inc toward faster AI adoption. That will turn the hiring ​squeeze into a deeper, ​structural slump.

The jobs crisis ⁠stirring in ​back offices of ​multinationals and the outsourcing industry spells trouble ​for the $4 ​trillion consumption-led economy. With the ‌gap ⁠between household income and spending already widening, ​the ​consequences ⁠for finance and markets will ​be far-reaching.

Shares of $7 bln Warburg Pincus-backed IDFC fell 16% after it flagged a suspected fraud in government accounts and a blame-game ensued. The market reaction is overblown but the lender's inconsistent earnings may explain why investors are unwilling to give it the benefit of doubt.

Washington slashed its tariff on Indian imports to 18% from 50%. President Donald Trump robs New Delhi of autonomy over its energy purchases but it removes a crushing overhang for the rupee. India at least emerges more connected to the global trading system than it was before.