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FSSAI issues notices to KFC, Nestlé and Flipkart

India’s food safety regulator has issued notices to three major brands , KFC India, Nestlé India and Flipkart, following consumer complaints related to food hygiene and alleged pest contamination.

The action was taken by the Food Safety and Standards Authority of India after complaints were received through the National Consumer Helpline. The regulator said the notices were issued to seek responses from the companies regarding grievances raised by consumers.

According to reports, the complaints involved concerns about hygiene standards and the presence of foreign objects or pests in food products supplied or sold through the companies. While the exact details of individual complaints have not been publicly disclosed, the regulator has asked the firms to investigate the issues and provide explanations.

The move highlights growing scrutiny of food safety practices as authorities seek to strengthen consumer protection and improve confidence in food products and services. FSSAI regularly monitors complaints received through various channels and can seek clarification from companies when concerns are raised about product quality or safety.

The notices do not amount to a finding of wrongdoing. They are part of the regulator’s process of examining complaints and gathering information before deciding whether any further action is required. The companies concerned may respond with details of their internal investigations, quality-control procedures and corrective measures, if any.

Consumer complaints relating to food quality, packaging and contamination have increasingly come under the spotlight as online food delivery and e-commerce platforms expand their reach across the country. Regulators have stressed the importance of maintaining strict safety standards throughout the supply chain, from manufacturing and storage to delivery.

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Tata Group asks Air India to rein in losses

The Tata Group has asked Air India to focus on reducing losses and improving financial performance as the airline continues to face mounting costs despite an ambitious transformation programme.

As per reports, Air India has accumulated losses of around $3 billion since returning to Tata ownership in 2022. The scale of the losses has prompted the group to push for tighter cost controls and a stronger focus on profitability.

As part of this effort, Air India is reportedly considering measures to streamline operations, reduce expenses and review parts of its expansion strategy. The airline has been investing heavily in fleet modernisation, technology upgrades, service improvements and the integration of multiple aviation businesses acquired under the Tata umbrella.

Sources cited in reports said the company may look at downsizing certain operations and slowing spending in areas that are not generating adequate returns. The objective is to improve efficiency while continuing with key long-term growth plans.

Air India has undergone a major overhaul since its acquisition by the Tata Group from the Indian government. The airline has placed record aircraft orders, upgraded cabins, expanded international services and worked to improve customer experience in an effort to reclaim its position in the global aviation market.

However, these investments have come at a significant cost. Rising fuel prices, aircraft delivery delays, supply-chain constraints and intense competition in both domestic and international markets have added to financial pressures.

Industry analysts note that while losses are common during large-scale restructuring programmes, investors and management typically expect a clearer path to profitability as transformation efforts progress. The Tata Group is therefore said to be seeking a balance between growth ambitions and financial discipline.

Air India remains central to the Tata Group’s aviation strategy, which also includes the merger and integration of several airline businesses. Company executives are expected to continue pursuing expansion opportunities, but with greater emphasis on controlling costs and improving operational efficiency.

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Banks raise NRI deposit rates after RBI eases rules

Several major Indian banks have increased interest rates on deposits targeted at Non-Resident Indians (NRIs) after the Reserve Bank of India (RBI) announced measures to encourage foreign currency inflows into the country.

Leading lenders including ICICI Bank, Axis Bank and Bank of Baroda have raised rates on Foreign Currency Non-Resident [FCNR(B)] deposits, with some offering returns of up to 6% on select tenures. Certain banks are also providing more than 7% interest on Non-Resident External (NRE) rupee deposits.

The move follows a recent RBI decision to temporarily relax regulations on foreign currency deposits. The central bank has exempted incremental FCNR(B) and NRE deposits from cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements until November 2027. This reduces the cost of mobilising such deposits for banks and allows them to offer higher interest rates to customers.

Bankers say the revised rates are aimed at attracting fresh deposits from Indians living abroad at a time when global economic uncertainty and changing interest rate cycles are influencing investment decisions. The higher returns are expected to make Indian deposits more attractive compared to some international savings products.

FCNR(B) deposits allow NRIs to maintain fixed deposits in foreign currencies such as US dollars, British pounds and euros, while NRE deposits are maintained in Indian rupees. Both categories are popular among overseas Indians seeking secure investment options and easy repatriation of funds.

The RBI’s measures could help strengthen India’s foreign exchange reserves by encouraging greater inflows from the Indian diaspora. Increased foreign currency deposits can also improve liquidity in the banking system and support the country’s external financing position.

Banks are expected to continue reviewing deposit rates based on market conditions and demand. Financial institutions hope the enhanced rates, combined with regulatory incentives, will attract significant fresh deposits from NRIs over the coming months.

Also Read: Reliance wins Juhu Galli redevelopment bid

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Reliance wins Juhu Galli redevelopment bid

A consortium led by Reliance Group has won the bid to redevelop the Juhu Galli slum cluster in Mumbai’s Andheri area, marking the company’s entry into the city’s growing slum rehabilitation sector. The project, spread across more than 101 acres, is among the largest slum redevelopment initiatives currently planned in Mumbai.

The winning consortium is headed by Reliance 4IR Realty Development and includes Mahadev Realtors Juhu, a subsidiary of Aspect Realty. The group emerged ahead of competing bids from JSW Group and Shapoorji Pallonji Group.

According to the Slum Rehabilitation Authority (SRA), the redevelopment project is expected to provide more than 28,000 rehabilitation homes for eligible residents currently living in the Juhu Galli settlement. The initiative is aimed at improving housing conditions and modernising infrastructure in one of Mumbai’s densely populated areas.

The project reflects increasing interest from large corporate groups in Mumbai’s slum redevelopment sector. In recent years, the Maharashtra government introduced policy changes to encourage large-scale redevelopment projects. A new framework announced in 2025 allows redevelopment of large slum clusters and offers developers additional development rights and higher building limits, making such projects more financially attractive.

To safeguard residents during the redevelopment process, the Reliance-led consortium will be required to provide funds for temporary accommodation. The company must pay around ₹700 crore over the next two years towards temporary rent for affected residents. It is also required to deposit an additional year’s rent and provide a performance guarantee of ₹100 crore.

Officials said the successful bidding process highlights the growing role of major private-sector companies in addressing Mumbai’s housing challenges through large-scale urban renewal projects. The development also places Reliance alongside other major players already active in Mumbai’s redevelopment sector, including the Adani Group’s ongoing Dharavi redevelopment project.

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ECB lifts rates by 0.25% as Iran war fuels inflation

The European Central Bank (ECB) has raised interest rates for the first time since 2023, responding to rising inflation driven by higher energy prices linked to the ongoing conflict involving Iran. The move makes the ECB the first major central bank in the developed world to increase borrowing costs since the latest global inflation surge began.

The ECB increased its key deposit rate by 25 basis points, taking it from 2% to 2.25%. The decision was widely expected by financial markets but signals growing concern among policymakers about the economic impact of the Middle East conflict.

ECB President Christine Lagarde said the war in the Middle East is creating inflationary pressures across the eurozone. Rising oil and energy prices have pushed inflation above the ECB’s target of 2%, forcing the central bank to act despite signs of weakening economic growth.

Recent data showed eurozone inflation climbing to around 3%, largely due to higher energy costs caused by disruptions linked to the Iran conflict. At the same time, economic growth in the region has slowed, creating a difficult balancing act for policymakers.

The ECB also revised its economic forecasts, raising inflation expectations while lowering growth projections. Officials warned that continued geopolitical tensions could further increase prices and weigh on business activity across Europe.

Investors now expect at least one additional rate increase later this year if inflation remains elevated. However, some economists believe the ECB may be cautious about further tightening because higher borrowing costs could put additional pressure on the already fragile eurozone economy.

Also Read: US overtakes Gulf as India’s top gas supplier

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US overtakes Gulf as India’s top gas supplier

The United States has emerged as India’s largest supplier of liquefied natural gas (LNG) and liquefied petroleum gas (LPG), overtaking traditional Gulf exporters as disruptions in West Asia reshape global energy trade.

The change comes after conflict involving Iran affected shipping routes through the Strait of Hormuz, a key passage for energy supplies from the Gulf. India depends heavily on the route for its LNG and LPG imports, prompting buyers to seek alternative sources as supply uncertainty increased.

According to industry data, US shipments of LNG and LPG to India rose sharply in May. American LNG exports accounted for more than 40 per cent of India’s monthly LNG requirements, while LPG supplies from the US exceeded the combined volumes received from major Gulf suppliers.

Energy analysts say the shift reflects both immediate supply concerns and a broader effort by India to diversify its energy sources. For years, Gulf nations such as Saudi Arabia, Qatar, the UAE and Kuwait dominated India’s gas imports. However, recent geopolitical tensions have highlighted the risks of relying heavily on a single region.

The growing energy partnership between India and the US had already been gaining momentum before the latest disruptions. Indian state-owned refiners signed long-term LPG supply agreements with US producers, helping strengthen trade ties between the two countries.

Experts note that importing gas from the US is generally more expensive than sourcing it from the Gulf because of longer shipping distances. Despite the higher costs, securing reliable supplies has become a priority amid ongoing uncertainty in West Asia.

The development is expected to deepen energy cooperation between New Delhi and Washington while improving India’s energy security. However, analysts believe Gulf countries will remain important suppliers once regional shipping conditions stabilize.

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US FDA issues import alert for Dabur’s Silvassa plant

The US Food and Drug Administration (US FDA) has placed an import alert on certain products manufactured at Dabur India’s Silvassa facility, restricting their entry into the United States. The development follows an inspection conducted by the regulator at the plant earlier this year.

Dabur said the import alert applies to products manufactured at the Silvassa facility that are intended for the US market. Under the alert, these products may be detained at US ports without physical examination until the company addresses the regulator’s concerns and meets compliance requirements.

The company, however, clarified that the action is not expected to have a significant impact on its overall business. According to Dabur, exports from the Silvassa facility to the US account for a very small portion of its total revenue. The company added that it remains committed to maintaining high quality standards and is working closely with the US FDA to resolve the issues raised during the inspection.

Dabur assured that it has already initiated corrective and preventive measures at the facility and is engaging with the regulator to secure the removal of the import alert at the earliest. The company emphasized that its products sold in India and other international markets remain unaffected by the development.

Despite the regulatory action, investor reaction remained muted. Dabur shares traded largely steady after the announcement, indicating that the market does not expect a major financial impact from the alert. Analysts noted that the company’s exposure to the US market through the affected facility is limited, reducing concerns about earnings pressure.

The import alert highlights the increasing scrutiny faced by pharmaceutical and healthcare manufacturers exporting products to the United States, one of the world’s most tightly regulated markets. Companies often need to address regulatory observations and implement corrective measures before restrictions are lifted.

Dabur stated that it will continue to cooperate with the US FDA and take all necessary steps to ensure compliance with regulatory standards.

Also Read: Centre bars bulk fuel purchases from retail pumps for 90 days

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Centre bars bulk fuel purchases from retail pumps for 90 days

The Centre has barred bulk consumers from buying petrol and diesel from retail fuel stations for up to 90 days, citing the need to safeguard fuel availability amid rising geopolitical tensions in West Asia.

The order applies to large consumers such as industries, factories, mining firms and commercial establishments that purchase fuel in bulk. These users will now have to source their fuel requirements directly from oil marketing companies through dedicated supply arrangements instead of retail outlets.

Officials said the measure is precautionary and does not indicate any shortage of petrol or diesel in the country. India has sufficient fuel stocks, and supplies for ordinary consumers are expected to remain unaffected.

The government said the restriction is aimed at ensuring retail fuel outlets continue to serve the public without disruption if global crude oil supplies face pressure due to developments in West Asia. Authorities are closely monitoring international energy markets and will review the decision based on the evolving situation.

Also Read: Rupee holds steady at ₹95.8 against US dollar

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Rupee holds steady at ₹95.8 against US dollar

The Indian rupee traded near ₹95.8 against the US dollar on Friday, supported by gains in domestic equity markets, lower crude oil prices and expectations of sustained foreign capital inflows.

The domestic currency remained stable during early trade as investors responded positively to a sharp rally in benchmark stock indices. The BSE Sensex surged nearly 1,000 points in opening trade, while the NSE Nifty crossed the 23,400 mark, boosting sentiment across financial markets.

Currency dealers said the rupee drew support from improving risk appetite among investors amid easing geopolitical concerns and strength in global markets. A decline in international crude oil prices also helped the currency, as lower oil costs reduce India’s import burden and improve the country’s trade balance.

“The rupee is benefiting from a combination of positive domestic and global factors, including strong equity market performance and reduced pressure from energy prices,” market participants said.

Foreign institutional investor (FII) activity remains a key driver of currency movements. Continued inflows into Indian equities and debt instruments have strengthened demand for the rupee and helped offset pressure from global uncertainties. Analysts noted that India’s economic growth outlook and stable macroeconomic indicators continue to attract overseas investors.

However, traders remain watchful of developments in global financial markets. The trajectory of the US dollar, interest-rate decisions by the US Federal Reserve and geopolitical developments could influence currency markets in the near term. Any sharp movement in global commodity prices may also affect the rupee’s performance.

Market experts expect the rupee to trade within a narrow range in the short term as investors assess upcoming economic data and policy signals from major central banks. Businesses with overseas exposure have been advised to monitor exchange-rate movements closely and adopt hedging strategies where necessary.

Despite external challenges, analysts believe the rupee is likely to remain relatively stable, supported by healthy foreign exchange reserves, improving capital inflows and India’s strong economic fundamentals.

Also Read: Gold dips to ₹1,45,630, silver down at ₹2,49,900

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Gold dips to ₹1,45,630, silver down at ₹2,49,900

Gold and silver prices witnessed a marginal decline on Friday, extending losses from their recent record highs amid profit booking and improving sentiment in global financial markets. While the fall was modest, analysts said the correction reflects changing investor preferences as risk appetite improves.

According to market data, the price of 24-carat gold declined by ₹10 to ₹1,45,630 per 10 grams. Silver prices also eased by ₹100 and were trading at ₹2,49,900 per kilogram. The decline follows a sharp rally in precious metals over the past few months, during which both gold and silver touched historic highs.

Market experts attribute the recent weakness in bullion prices to easing geopolitical tensions, gains in global equity markets and a stronger appetite for risk among investors. As stock markets recover and economic concerns show signs of easing, some investors are shifting funds from traditional safe-haven assets such as gold into equities and other growth-oriented investments.

Despite the recent decline, analysts stressed that gold remains one of the best-performing asset classes in recent years. Rising inflation concerns, uncertainty over global economic growth and central bank purchases have continued to support long-term demand for the yellow metal.

Financial advisors believe the current correction should not be viewed as a signal to exit investments. Instead, they recommend that investors maintain a long-term perspective and use temporary price declines to gradually increase their holdings. Experts also advised investors to avoid making emotional decisions based on short-term market movements.

Silver, which often mirrors trends in gold prices, also witnessed a slight decline. However, analysts noted that strong industrial demand from sectors such as electronics, renewable energy and manufacturing could provide support to silver prices in the coming months.

Going forward, bullion markets are expected to remain sensitive to global economic data, interest rate decisions by major central banks and geopolitical developments.

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