Kal Somani-led consortium buys Rajasthan Royals for $1.63 billion
Kal Somani, leading a business consortium, has acquired the Rajasthan Royals IPL franchise for about $1.63 billion (₹16,290 crore), in one of the highest valuations in Indian cricket. The deal places Somani at the helm with Walmart equating to a 100 percent stake into the franchise alongside other investors. Somani, already a shareholder, will take full control after the 2026 Indian Premier League season, replacing Manoj Badale as owner. The Times Group reportedly competed for the team but finished second in the bidding. The sale highlights IPL’s growing global commercial value and Bharat's role in sports franchising.
Purchase value: $1.63 billion
Walmart involvement and 100% stake
Somani to take full control after 2026 IPL season
Manoj Badale replaced as owner
Times Group was a rival bidder
IPL branding and economics grow globally
Mar 25, 2026
Karnataka Grameena Bank wins National Award for SHG Linkage 2024-25
On 23 March 2026, Karnataka Grameena Bank was named the National Award for Outstanding Performance in SHG Bank Linkage for 2024-25 by the Union Ministry of Rural Development. The award, announced at a national conference in Hyderabad, recognises the bank’s support for Self-Help Groups across rural areas, contributing to financial inclusion and rural empowerment. The SHG linkage program has mobilised thousands of groups and extended substantial credit, strengthening livelihoods in rural communities. The recognition was presented during the National Conference on Financial Literacy and Capacity Building, alongside the 25th Central Level Coordination Committee meeting in Hyderabad. This award is among the most prestigious in rural banking.
Date and venue of announcement: 23 March 2026, Hyderabad
Award: National Award for Outstanding SHG Linkage (2024-25)
Awarding body: Union Ministry of Rural Development
Impact: support for thousands of SHGs and credit flow
Context: part of National Conference on Financial Literacy and Capacity Building
Significance: prestigious rural banking honour
Mar 22, 2026
Tamil Nadu Tops India’s Textile Exports in 2024-25
Tamil Nadu has emerged as India’s leading textile exporter for 2024-25, surpassing Gujarat and Maharashtra with exports valued at 7,997.17 million dollars. The state now accounts for about 21.84 percent of India’s total textile exports, reflecting a four-year growth of over 29 percent. This rise follows sustained policy support, infrastructure development, and an export-oriented production ecosystem. Exports rose from 6,193 million dollars in 2020-21 to nearly 8 billion dollars in 2024-25, signaling robust industry fundamentals, a skilled workforce, and strong supply chains. The state’s performance underscores the resilience of India’s textile sector amid global demand and policy initiatives.
Tamil Nadu led India’s textile exports in 2024-25 with 7,997.17 million USD.
State share of national textile exports: 21.84%.
Four-year growth exceeding 29%.
Drivers include policy support, infrastructure, and export ecosystem.
Exports expanded from 6,193 million USD (2020-21) to ~8,000 million USD (2024-25).
Mar 20, 2026
RELIEF Scheme Launched to Support Exporters Facing Gulf Disruptions
India announced RELIEF (Resilience & Logistics Intervention for Export Facilitation) to support exporters amid geopolitical tensions in West Asia and maritime disruptions. The scheme addresses higher freight costs, insurance, and uncertain routes caused by Hormuz Strait disturbances. It aims to stabilize exports from India by providing targeted relief measures, improving logistics efficiency, and ensuring supply chain resilience for key trade partners in West Asia and surrounding regions. Officials expect the program to ease volatility in shipments and maintain the competitiveness of Indian goods abroad during a period of global trade volatility.
RELIEF scheme introduced for exporters amid Gulf disruptions
Targets higher freight costs and insurance premiums
Addresses Hormuz Strait-related disruptions
Focus on logistics resilience for West Asia trade
Aims to maintain India’s export competitiveness
Mar 19, 2026
Hurun Global Rich List 2026: Elon Musk remains world’s richest; India hosts 308 billionaires
Hurun Global Rich List 2026 shows Elon Musk continuing as the world’s richest person, with an estimated net worth of 792 billion dollars. The annual ranking records a global total of 4,020 billionaires, including 578 new entrants in the last year. In Asia, Mukesh Ambani of Reliance Industries remains the richest Indian and the continent’s wealth leader, with a net worth around 109 billion dollars. India now has 308 billionaires, underscoring strong wealth growth among Indian entrepreneurs. Shah Rukh Khan re-enters the billionaire list with an estimated fortune of 1.3 billion dollars, reflecting diversification of wealth across Indian industry and entertainment.
Elon Musk net worth: $792 billion
Global billionaires: 4,020; 578 new entrants
Mukesh Ambani: richest Indian and Asian with around $109 billion
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