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BUSINESS AND ECONOMY - July 2025

Jul 2025

May 02, 2026

QS MBA Rankings 2026: IIM Bengaluru Tops India

The QS Executive MBA Rankings 2026 place IIM Bengaluru as the highest-ranked Indian business school, maintaining leadership in executive education despite a slight dip in its global position. The institute stands as the only Indian school in the global Top 100. In India, IIM Bengaluru also leads the Indian EMBA standings, supported by strong employer reputation and career outcomes. Other Indian institutions featured include ISB, IIM Kozhikode, IIM Indore, IMT Ghaziabad, Woxsen School of Business, and IIM Ranchi, reflecting a robust Indian presence in global executive education and diversified leadership pathways.

QS Executive MBA Rankings 2026: IIM Bengaluru tops India.
IIM Bengaluru remains the sole Indian school in the global Top 100 (EMBA).
Leadership supported by employer reputation and career outcomes.
Other Indian institutions in rankings include ISB, IIM Kozhikode, IIM Indore, IMT Ghaziabad, Woxsen, IIM Ranchi.

India Hits All‑Time Peak Electricity Demand of 256.1 GW in April 2026

New and Renewable Energy Minister Pralhad Joshi reported that India reached an all‑time peak electricity demand of 256.1 GW in April 2026, with solar contributing about 21 percent of peak supply. The milestone underscores a structural shift toward renewable energy, which supported around 57 GW at peak and roughly 81 GW during midday. The development reflects growing demand in a developing economy and signals a move toward cleaner energy mix, improving energy security. The statement illustrates the ongoing transition to renewables while balancing grid reliability amidst rising consumption.

India’s April 2026 peak electricity demand reached 256.1 GW.
Solar contributed ~57 GW at peak; ~81 GW at midday.
Renewables form a growing share of the energy mix, enhancing energy security.
Minister Joshi linked milestone to structural shift in energy provisioning.
signals ongoing transition toward cleaner energy.

May 01, 2026

IPPB launches SHG Savings Account to boost financial inclusion

India Post Payments Bank announced the launch of a Self Help Group Savings Account to advance financial inclusion for women‑led SHGs. Features include no minimum initial deposit, no monthly average balance requirement, a cap of two lakh rupees on balance, and no account closure or QR card issuance charges. IPPB’s managing director said the product will help SHGs participate more actively in the formal financial system and support sustainable livelihoods. The SHG account aims to simplify banking for rural groups, improve transparency in payments, and integrate women entrepreneurs into broader economic activity.

Product: SHG Savings Account
No minimum deposit; no MAB requirement
Balance cap: two lakh rupees
No account closure charges; no QR card charges
Aims: financial inclusion for women SHGs
Expected impact: formal financial participation and transparency

Apr 29, 2026

Suresh Sethi named Visa Group Country Manager for India and South Asia

Visa Inc. appointed Suresh Sethi as Group Country Manager for India and South Asia. The new role is based in Mumbai and covers operations across India, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan. The appointment aims to accelerate digital payments expansion and fintech innovation in the region, leveraging Sethi’s experience in public digital infrastructure and financial technology. He will report to the Regional President for Asia Pacific. The move aligns with efforts to boost financial inclusion, strengthen payments ecosystems and support private‑public collaborations across the region.

Suresh Sethi named Visa Group Country Manager
Based in Mumbai; oversees India and South Asia
Regions include India, Bangladesh, Sri Lanka, Nepal, Maldives, Bhutan
Aims to accelerate digital payments and fintech growth
Reports to Asia Pacific Regional President

MobiKwik gets RBI NBFC licence; to expand lending

One MobiKwik Systems received Reserve Bank of India approval for a non‑banking financial company (NBFC) licence. The RBI clearance enables direct lending and the launch of a dedicated lending arm, MobiKwik Financial Services Private Limited (MFSPL). The development marks a shift from payments to a broader financial services platform and is expected to expand its credit offerings for consumers and merchants. Regulators see the move as strengthening the fintech ecosystem, with MobiKwik planning new lending products and partnerships in 2026, subject to regulatory norms and consumer protection standards.

RBI approves MobiKwik NBFC licence
Formation of MobiKwik Financial Services Private Limited
Direct lending capability enabled
Strategic shift from payments to broader finance
Regulatory and consumer protection considerations

India–New Zealand Free Trade Agreement signed at Bharat Mandapam

India and New Zealand signed the India–New Zealand Free Trade Agreement at Bharat Mandapam, New Delhi. The signing was led by Union Commerce Minister Piyush Goyal and NZ Trade Minister Todd McClay. The FTA aims to deepen bilateral trade, investment and governance openness. Key terms include zero‑duty access for a large majority of Indian exports to New Zealand, expanded market access for NZ goods, and enhanced service sector opportunities across 118 sectors. The pact also introduces a visa pathway for 5,000 Indian professionals to stay up to three years, reflecting a broader push to expand mobility and skilled work across the region.

India–New Zealand FTA signed in New Delhi
Zero‑duty access for many Indian exports to NZ
70% tariff lines opened; sensitive sectors protected
Services market access across 118 sectors
Visa pathway for 5,000 Indian professionals (up to 3 years)

PhonePe first UPI app to cross 10 billion monthly transactions (March 2026)

PhonePe reportedly became the first Unified Payments Interface (UPI) app to cross 10 billion monthly transactions in March 2026. The milestone reflects rapid growth of digital payments in India and the rising adoption of UPI across merchants and consumers. Market analysts note the trend strengthens financial inclusion, supports e‑commerce, and raises the importance of secure, scalable payment rails. Regulators and industry players continue to monitor transaction costs, data privacy and user protection as digital wallets compete for market share in a maturing payments ecosystem.

PhonePe crosses 10 billion monthly UPI transactions in March 2026
Indicator of rapid digital payments growth
Impacts include financial inclusion and e‑commerce support
Regulatory focus on costs, privacy and security
Signifies rising competition in the UPI space

VJaitra Air Mobility, Jio-bp sign MoU to build electric and hydrogen air taxi infrastructure in I...

VJaitra Air Mobility, based in Noida, has entered a partnership with Jio-bp to develop electric and hydrogen-powered air taxi infrastructure in India. The memorandum of understanding aims to accelerate sustainable urban air mobility by integrating charging and refuelling systems into existing networks. Under the agreement, Jio-bp will design networks for electric charging and hydrogen refuelling and integrate vertiports with its fuel-station network to create a seamless ecosystem for electric vertical take-off and landing aircraft. The plan targets longer-range, zero-emission urban air taxis and envisions scalable deployment nationwide. The collaboration supports India's push for green mobility and indigenous aviation capabilities, aligning with national energy and transport goals.

MoU between Noida-based VJaitra Air Mobility and Jio-bp to develop air taxi infrastructure.
Focus on electric charging and hydrogen refuelling networks with vertiport integration.
Aims to create a nationwide, seamless ecosystem for VTOL aircraft.
Targets longer-range, zero-emission urban air taxis and scalable deployment.
Supports India’s green mobility and indigenous aviation initiatives.

Apr 28, 2026

Parminder Singh appointed CEO of Reliance Enterprise Intelligence Limited

Parminder Singh has been appointed Chief Executive Officer of Reliance Enterprise Intelligence Limited (REIL). The appointment signals India’s push toward enterprise-scale artificial intelligence adoption across sectors. Mr. Singh brings leadership experience from major global tech firms and has previously held senior roles at Google, Apple, Twitter and IBM. He also served as Chief Commercial and Digital Officer at Mediacorp and founded AI ventures such as ClayboxAI and WeKamp. In his new role, he will lead the company’s AI strategy, product development and cross‑industry implementation, aiming to accelerate digital transformation for Indian enterprises while expanding REIL’s global footprint and capabilities.

Parminder Singh named CEO of Reliance Enterprise Intelligence Limited (REIL).
Background includes senior roles at Google, Apple, Twitter and IBM; founder of ClayboxAI and WeKamp.
Role focuses on accelerating enterprise AI adoption and cross‑industry AI deployments.

Apr 27, 2026

Dabur appoints Herjit S Bhalla as India Business CEO; effective 23 April 2026

Dabur has named Herjit S Bhalla as Chief Executive Officer of its India Business, with effect from 23 April 2026. Bhalla will report to Mohit Malhotra, Whole‑time Director and Global CEO. Bringing over 25 years of global experience, Bhalla previously spent 16 years at Unilever starting in 2000. His appointment comes as Dabur navigates a rapidly evolving FMCG sector driven by digital channels and rural market growth. Bhalla is expected to drive domestic growth, sharpen market positioning, and oversee sales, marketing, and operations, leveraging his international perspective to enhance competitiveness in the Indian market.

Herjit S Bhalla appointed India Business CEO
Effective 23 April 2026; reports to Mohit Malhotra
Over 25 years of global experience; 16 years at Unilever
Role focuses on domestic growth, brand expansion, and operations
Aims to leverage digital expansion and rural market growth

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