Category: Beyond

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Beyond

RBI, IRDAI cautious on banks in commodity derivatives

India’s financial regulators have taken a cautious stance on allowing banks and insurance companies to participate in commodity derivatives trading, according to remarks made by SEBI chief Tuhin Kanta Pandey.

Pandey said that both the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) are currently not inclined to permit such participation due to risk and structural concerns. As a result, banks and insurers are expected to remain out of the commodity derivatives segment for now.

The clarification comes even as the Securities and Exchange Board of India (SEBI) had earlier explored expanding participation in the commodities market to deepen liquidity and improve price discovery. SEBI had also discussed allowing banks and pension funds to enter the segment as part of efforts to strengthen the ecosystem.

However, the latest stance from the RBI and IRDAI indicates that the proposal has hit a regulatory roadblock. Officials believe commodity-linked instruments may not align with the long-term investment mandates of banks and insurance companies, and could expose them to additional volatility risks.

Following the remarks, market sentiment turned negative for commodity exchanges. Shares of Multi Commodity Exchange of India (MCX) fell by around 3–3.5%, reflecting concerns that reduced institutional participation could limit liquidity and trading volumes.

MCX, which dominates India’s commodity derivatives market, is particularly sensitive to regulatory changes affecting institutional access. Investors worry that without banks and insurers, the growth potential of the segment could be constrained in the near term.

At the same time, SEBI’s broader agenda to develop the commodity market remains in focus, including earlier proposals to involve pension funds and other long-term investors. But regulatory alignment between the three major bodies, SEBI, RBI, and IRDAI, appears to be the key hurdle.

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Siemens delivers first freight locomotives to Indian railways

Siemens Mobility has delivered the first set of high-powered electric freight locomotives to Indian Railways, marking the start of a major upgrade in the country’s cargo transport system.

This delivery is part of a €3 billion project under which Siemens will supply 1,200 locomotives over the next several years. The rollout has now moved from planning to real-world operations, with the first engines already entering commercial service.

These new locomotives, known as D9 engines, are among the most powerful ever used by Indian Railways. They can run at speeds of up to 120 km/h and carry much heavier loads than older engines. This means goods can be moved faster and more efficiently across long distances, helping improve the overall logistics network.

To support the new fleet, a maintenance facility has also been set up in Visakhapatnam. This is the first of four such depots planned across the country. These centres will ensure the locomotives are regularly serviced and kept in top condition over their long operating life.

What makes these engines stand out is the use of advanced digital technology. They are equipped with systems that can monitor performance in real time and predict maintenance needs before problems occur. This helps reduce breakdowns and keeps trains running on schedule.

The project is also significant for India’s manufacturing sector. Most of the locomotives are being built within the country, supporting local industry and creating jobs. It aligns with the government’s push to boost domestic production.

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Rupee slides to ₹95.31, hits fresh record low

The Indian rupee fell sharply on May 5, 2026, slipping to ₹95.31 against the US dollar and nearing its record low levels. The currency has been under consistent pressure due to a mix of global and domestic factors.

A key trigger for the fall is the surge in crude oil prices, which have risen to around $114 per barrel amid escalating tensions in the Middle East. Concerns over supply disruptions, especially around the Strait of Hormuz, have pushed oil prices higher. For India, which depends heavily on oil imports, this means higher demand for dollars, putting pressure on the rupee.

At the same time, a stronger US dollar has added to the weakness. Global investors are moving towards safer assets, leading to capital outflows from emerging markets like India. This has further weakened the rupee.

Foreign fund outflows and increased dollar demand from importers have also contributed to the decline. The Reserve Bank of India is likely keeping a close watch and may step in to limit excessive volatility.

Analysts expect the rupee to remain under pressure in the near term unless oil prices ease and global tensions stabilise.

Also Read: Gold near ₹1.5 lakh, Silver around ₹2.65 lakh

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Gold near ₹1.5 lakh, Silver around ₹2.65 lakh

Gold prices remained steady while silver continued to stay under pressure on May 5, 2026, reflecting ongoing uncertainty in global markets.

In the retail market, 24-carat gold is currently priced at around ₹14,960 per gram, which is close to ₹1.5 lakh per 10 grams. Meanwhile, 22-carat gold is selling at about ₹13,700 per gram. Silver prices are hovering near ₹2.64–₹2.65 lakh per kilogram across major cities.

Gold has been moving in a narrow range over the past few days. While it hasn’t seen any major rise, it is holding firm despite global volatility. This shows that buyers are still interested, but are not making aggressive moves at current levels.

Silver, on the other hand, has been more unstable. Prices have dropped sharply in recent sessions, falling by nearly ₹10,000 per kilogram. This sharper movement is typical for silver, which is influenced not just by investment demand but also by industrial use.

The main reason behind these price trends is global uncertainty. Rising tensions in the Middle East have made investors cautious, while a stronger US dollar has limited the upside for gold. Usually, gold benefits during uncertain times, but higher interest rates are keeping gains in check.

Crude oil prices have also been rising, adding to inflation concerns worldwide. For India, a weaker rupee is making imports more expensive, which is also affecting gold and silver prices in the domestic market.

Prices differ slightly from city to city due to local taxes and jeweller charges, but the overall trend remains similar across the country. Buyers may notice small daily changes in gold rates, while silver prices tend to fluctuate more sharply.

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Air India to review CEO, cost cuts at May 7 meet

Air India is preparing for an important board meeting on May 7, where it will take a close look at its finances, leadership plans, and ways to cut costs. The meeting comes at a time when the airline is facing rising expenses and significant losses.

The board is expected to review the airline’s performance for the past financial year, during which losses are estimated to have crossed ₹22,000 crore. This has increased the urgency to find ways to reduce spending and improve efficiency.

One of the main areas of focus will be cost control. The airline is likely to consider steps such as cutting unnecessary expenses and possibly changing some services offered to passengers. For example, certain add-ons like meals or lounge access could be separated from ticket pricing to manage costs better.

Another key topic on the agenda is leadership. The airline is in the process of selecting a new chief executive, as current CEO Campbell Wilson is expected to step down later this year. The board may review potential candidates and discuss the transition plan.

Apart from internal challenges, external factors have also added pressure. Higher fuel prices and ongoing global tensions have increased operating costs and affected flight operations. These issues have made it more difficult for the airline to manage its finances.

The meeting is seen as an important step in Air India’s ongoing efforts to turn around its business under the Tata Group. Since returning to private ownership, the airline has been working to improve services, expand operations, and modernise its fleet.

However, the financial challenges remain significant, and the decisions taken at this meeting could shape the next phase of its journey.

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₹37,500 cr plan to boost coal gasification projects

The government is preparing a major ₹37,500 crore push to promote coal gasification projects, as it looks to make better use of India’s coal reserves while reducing dependence on imports. The proposal is expected to be taken up by the Union Cabinet soon.

Coal gasification is a process that converts coal into a cleaner gas, which can then be used to produce fuels, fertilisers, and chemicals. Instead of burning coal directly, this method allows it to be used in a more efficient and less polluting way.

The main goal behind the plan is to reduce India’s reliance on imported fuels like liquefied natural gas (LNG) and key inputs such as urea. By using locally available coal, the government hopes to improve energy security and support domestic industries at the same time.

To encourage companies to invest in this technology, the government plans to offer financial incentives. Reports suggest that each project could receive support of up to ₹3,000 crore, making large-scale investments more viable for both public and private players.

The move is also part of a broader effort to shift towards cleaner energy solutions. While coal continues to play a major role in India’s energy mix, gasification is seen as a smarter way to use it with lower emissions. The government has set a long-term target of significantly increasing coal gasification capacity by 2030.

Officials believe the new scheme will simplify earlier policies and make it easier for companies to participate. A more streamlined approach is expected to speed up project approvals and implementation.

The plan comes at a time when global energy markets remain uncertain, with fluctuating prices and supply concerns. By focusing on domestic resources, India is aiming to become more self-reliant and less vulnerable to external shocks.

Also Read: Tata Trusts to review Tata Sons board changes

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Tata Trusts to review Tata Sons board changes

Tata Trusts is set to hold an important meeting on May 8 to review its representation on the board of Tata Sons, in what could lead to notable changes at the top level of the group.

The discussions are expected to focus on possible changes to nominee directors appointed by the Trusts. One of the key developments under consideration is the potential exit of Venu Srinivasan from the Tata Sons board. At the same time, former Titan Company managing director Bhaskar Bhat is being considered for a board position.

Tata Trusts, which collectively hold a majority stake in Tata Sons, play a central role in shaping decisions within the Tata Group. Any changes in board representation are therefore seen as significant for the group’s overall direction.

The review comes at a time when there are differing views within the Trusts on certain strategic matters. One of the key issues being debated is whether Tata Sons should remain a privately held company or consider going public. While some members have supported the idea of listing, others have preferred to keep the current structure unchanged.

Apart from board composition, the meeting may also touch on broader governance issues, including leadership roles within the Trusts and long-term planning for the group. Reports suggest that even internal positions, such as the vice-chairman role, could be reviewed as part of this exercise.

The outcome of the meeting is being closely watched by industry observers, as it could signal how decision-making and influence are evolving within the Tata Group.

Also Read: Vietnam sees tourism boom with over 2 mn visitors

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Vietnam sees tourism boom with over 2 mn visitors

Vietnam is witnessing a strong tourism rebound in 2026, with more than 2 million international visitors arriving in April alone. The steady inflow highlights the country’s growing popularity as a preferred travel destination in Southeast Asia.

Official figures show that Vietnam received around 2.03 million foreign tourists in April, taking the total number of international arrivals in the first four months of the year to nearly 8.8 million. This marks a significant rise compared to last year and reflects sustained growth in the sector.

One of the key highlights is the consistency in visitor numbers. Vietnam has now recorded over 2 million international arrivals for four consecutive months—an indication that the tourism recovery is not just strong, but stable.

Several factors are driving this growth. Improved flight connectivity, relaxed visa policies, and better tourism infrastructure have made travel to Vietnam easier and more convenient. In addition, the country’s mix of natural beauty, cultural heritage, and modern attractions continues to appeal to a wide range of travellers.

Visitors are arriving from both traditional and emerging markets. Countries like China, South Korea, the United States, Japan, and Australia remain major sources of tourists. At the same time, markets such as India and Russia are showing rapid growth, supported by increasing travel demand and improved air links.

Industry experts say Vietnam is benefiting from changing travel preferences, with more tourists looking for unique experiences such as eco-tourism, local culture, and wellness travel. The country’s diverse offerings, from beaches and mountains to historic cities, make it an attractive choice for such travellers.

Compared to other destinations in the region, Vietnam is emerging as one of the fastest-growing tourism markets. While some countries are seeing slower recovery, Vietnam continues to attract strong visitor numbers.

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AIIMS launches portable MRI for faster patient scans

AIIMS Delhi has introduced India’s first portable MRI system, making it possible to carry out brain scans right at a patient’s bedside. The new device is expected to improve care for critically ill patients, especially those in intensive care units (ICUs).

Traditionally, patients need to be shifted to a separate room for MRI scans. For those who are on ventilators or in unstable condition, this process can be risky and time-consuming. With the portable MRI, doctors can now perform scans without moving the patient, reducing both risk and delay.

The system is designed mainly for brain imaging and will be used in cases such as stroke, head injuries, and other neurological emergencies. Quick access to imaging helps doctors understand a patient’s condition faster and begin treatment without waiting.

Another key benefit is continuous monitoring. Doctors can repeat scans when needed without the hassle of transporting patients multiple times. This is especially useful in ICUs, where even small movements can affect a patient’s condition.

The portable MRI uses a lower magnetic field compared to conventional machines. While it does not replace full-scale MRI scans, it works as a rapid diagnostic tool in emergency situations. Detailed scans can still be done later if required.

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Gold near ₹1.51 lakh, Silver slips below ₹2.65 lakh

Gold prices in India remained mostly steady on May 4, 2026, while silver saw a noticeable drop, reflecting a mixed trend in the bullion market. Despite global uncertainties, gold continued to trade close to the ₹1.50–1.51 lakh mark per 10 grams for 24-carat purity, showing little movement compared to previous sessions.

Across major cities like Delhi, Mumbai, Chennai, and Kolkata, gold prices stayed largely unchanged, with only minor differences due to local taxes and demand. The steady pricing suggests that buyers are still active, especially in the jewellery segment, but are also being cautious given the uncertain global environment.

In contrast, silver prices declined significantly during the day. The metal fell to around ₹2.64 lakh to ₹2.65 lakh per kilogram, with losses of up to ₹1,900 per kg reported in several markets. This drop highlights weaker demand and global pressure on silver prices compared to gold.

The difference in performance between gold and silver is largely due to their roles in the market. Gold, often seen as a safe-haven asset, continues to attract steady interest during uncertain times. Silver, which is more closely linked to industrial demand, tends to react more sharply to global economic concerns.

On the futures market, both metals showed some weakness. Gold prices slipped slightly, while silver recorded a sharper decline during intraday trading. Analysts say this reflects cautious sentiment among traders who are closely watching global developments.

Factors such as movements in crude oil prices, geopolitical tensions, and uncertainty around interest rates are currently influencing the bullion market. Investors are waiting for clearer signals before making big moves, which is keeping gold stable but putting pressure on silver.

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