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BUSINESS AND ECONOMY - May 2026

May 2026

Oct 11, 2026

Adani Power and Bhutan’s DGPC sign 770 MW Chamkharchhu-I hydro project agreement

Adani Power Limited and Bhutan's Druk Green Power Corporation (DGPC) signed a shareholders' agreement on 6 October 2026 to jointly develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan, strengthening energy cooperation between India and Bhutan. The project is part of a broader 5,000 MW hydropower development partnership between the Adani Group and the Royal Government of Bhutan. Under the agreement, DGPC will hold 51% equity and Adani Power 49%. The project will follow the Build, Own, Operate and Transfer model with a 30-year concession from commercial operation and is expected to be completed within six years of groundbreaking. It aims to expand renewable energy capacity and regional energy security.

Date of agreement: 6 October 2026.
770 MW Chamkharchhu-I hydro project in Bhutan.
DGPC 51% equity; Adani Power 49%.
BOOT model; 30-year concession.
Part of a broader 5,000 MW regional hydropower plan.

Oct 08, 2026

RBI increases repo rate to 5.50% on 7 October 2026

The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. The Monetary Policy Committee, chaired by Governor Sanjay Malhotra, unanimously approved the decision and moved from a neutral to a calibrated tightening stance. The move aims to curb inflation while maintaining economic stability and growth momentum. Banks and borrowers can expect higher lending costs. The RBI signalled a careful balancing of inflation risks with growth, in line with its latest policy communications.

Rate hike: 25 bps to 5.50% (7 Oct 2026)
Policy stance: from neutral to calibrated tightening
Chair: Governor Sanjay Malhotra
Reason: to control inflation while supporting growth
Market impact: potential higher loan costs

Oct 06, 2026

Bharat Forge signs long-term aerospace contract with Pratt & Whitney Canada

Bharat Forge Ltd signed a long‑term contract with Pratt & Whitney Canada on 5 October 2026 to supply mission‑critical aerospace engine components. The parts will be manufactured at Bharat Forge’s aerospace facility in India, designed to produce high‑performance aero‑engine products and to meet global standards for quality, precision, reliability and traceability. The deal strengthens Bharat Forge’s role as a supplier for international aerospace customers and supports multiple programmes in both civil aviation and defence sectors. Company officials emphasized strong quality controls and end‑to‑end traceability, with strict supplier audits and on‑time delivery commitments. The agreement underscores India’s expanding capabilities in high‑value manufacturing.

Date: 5 October 2026.
Partner: Bharat Forge and Pratt & Whitney Canada.
Products: mission‑critical aerospace engine components.
Facility: Bharat Forge’s aerospace plant in India.
Emphasis: quality, traceability and on‑time delivery.

Oct 02, 2026

Anup Kumar Saha appointed Kotak Mahindra Bank MD and CEO

Kotak Mahindra Bank received approval from the Reserve Bank of India in October 2026 for the appointment of Anup Kumar Saha as its Managing Director and Chief Executive Officer. Saha's three-year tenure is scheduled to begin on 1 January 2027. He will succeed Ashok Vaswani, whose term as MD and CEO ends on 31 December 2026. The appointment marks a leadership transition at one of India’s major private-sector banks. Saha previously served in key positions within the bank, including head of corporate and investment banking, and is expected to steer strategy, technology integration, and customer growth. The RBI approval followed a formal governance review by the bank.

RBI approves Anup Kumar Saha as Kotak Mahindra Bank MD & CEO in October 2026.
Tenure starts 1 January 2027; successor to Ashok Vaswani (ends 31 December 2026).
Saha previously led corporate and investment banking at Kotak Mahindra Bank.
Expectations include strategic alignment, technology integration, and customer growth.
Approval followed internal governance review.

Sep 30, 2026

FICCI FRAMES 2026 held in Mumbai with industry focus

The 26th edition of FICCI FRAMES 2026 took place in Mumbai, Maharashtra, bringing together leaders from the media and entertainment sectors. Organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), the convention highlighted developments in films, television, animation, gaming, and digital media. The event featured panel discussions, product showcases, and networking sessions designed to shape India’s creative economy. The theme, 'India’s Media Moment: Creating Value in an Age of Infinite Content,' focused on monetization, audience engagement, and new distribution models. Delegates from government, industry, and academia discussed policy support, investment opportunities, and collaboration across platforms to accelerate growth.

26th FICCI FRAMES held in Mumbai, 2026
Sectors covered: films, TV, animation, gaming, digital media
Theme focuses on value creation in content abundance
Panels and showcases for industry growth
Policy and investment discussions with government and industry

Apple Pay launches in India with Axis Bank

Apple Pay launched its digital payment service in India in collaboration with Axis Bank, marking a significant step in the country’s mobile wallet ecosystem. The service enables contactless payments through Apple devices by adding eligible cards to Apple Wallet. It uses tokenisation, device-level security, and biometric authentication to protect payment information. Merchants adopting the system can offer faster checkouts, while customers gain convenient access to a wide range of cards. Axis Bank will issue cards compatible with Apple Pay, and partnerships with additional banks are expected. The launch aims to expand digital payments in India and spur financial inclusion. The rollout will cover major metros first, with gradual expansion nationwide.

Apple Pay launches in India with Axis Bank
Contactless payments via Apple Wallet and tokenisation
Axis Bank to issue compatible cards; more banks expected
Aims to expand digital payments and financial inclusion
Initial rollout targets major metros

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