📰 India Business Brief: Top Headlines for May 21, 2026

Business Standard

• The Indian rupee touched a new historic low, nearing 97 against the US dollar, prompting the Reserve Bank of India (RBI) to unveil a $5 billion buy-sell swap to stabilize the currency.
• The Insurance Regulatory and Development Authority of India (IRDAI) has withheld the variable pay of several insurance CEOs after companies failed to meet specific expense-of-management targets.
• Maruti Suzuki Chairman R.C. Bhargava has signaled a strategic pivot, stating that the company will prioritize biogas technology over hybrids to meet India's green energy goals.
• SEBI has floated a provocative proposal that would allow Indian companies to pay a portion of employee salaries in the form of mutual fund units to encourage retail investment.
• The government defended its decision to write down ₹8,415 crore of Yes Bank AT1 bonds before the Supreme Court, citing the necessity of the move for the bank's survival during its 2020 restructuring.

Economic Times

• Market analysts at Nuvama predict a major Sensex reshuffle in June, with Hindalco Industries or Shriram Finance likely to enter the index, while Trent is expected to be excluded.
• Non-bank lender Credit Saison India successfully raised $500 million in its largest-ever external commercial borrowing transaction to expand its MSME lending portfolio.
• Gland Pharma shares surged to a 52-week high following robust March quarter results and improving profitability in its European subsidiary, Cenexi.
• A viral video featuring PM Modi and Italian PM Meloni has led to a bizarre "Melody" confusion on the stock market, causing Parle Industries to hit its upper circuit.
• The government warned that India's fertilizer subsidy bill for FY27 could rise by ₹70,000 crore due to the ongoing West Asia crisis affecting global supply chains.

Mint

• TCS CEO K. Krithivasan's FY26 compensation was revealed to be over ₹28 crore, a 6.3% increase from the previous year, though he remains mid-tier compared to global IT peers.
• India's peak power demand hit a record high of 265.44 GW on May 20 as an intense heatwave continues to sweep across northern and western states.
• The United Nations has flagged a potential growth slowdown for India to 6.4% in FY27, citing the economic spillover effects of the Iran conflict.
• Tech layoffs continue to dominate headlines as Meta begins a new round of job cuts affecting 8,000 employees, while LinkedIn also announced a reduction of 600 roles.
• The Navi Mumbai airport regulator has approved a 6% hike in passenger fees starting next April, signaling higher travel costs for commuters using the upcoming terminal.

TAGS: Headlines, Business News, Economic Times, Business Standard, Mint, Top News

Tags: Headlines Business News Economic Times Business Standard Mint Top News