** 📰 India Business Brief: Top Headlines for August 20, 2026

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Business Standard

• Public Sector Banks (PSBs) have proposed a new 2% sub-target for climate finance within the Priority Sector Lending (PSL) framework to accelerate green energy adoption.
• Global investment firm KKR has signed a definitive agreement to acquire a minority stake in the entertainment platform BookMyShow.
• The Securities and Exchange Board of India (Sebi) is set to overhaul the SME framework, specifically tightening accountability for companies utilizing AI and Machine Learning tools.
• Data center firm CtrlS has successfully raised ₹250 crore from a group of investors including Zerodha's Nikhil Kamath and Sreeram Reddy Vanga.
• The BSE has entered into a strategic partnership with MSCI to explore the launch of new index derivatives in the Indian market.
• Oil India is currently being viewed by analysts as a high-upside alternative to ONGC as crude prices remain elevated due to global supply uncertainties.

Economic Times

• Indian oil and gas PSUs, including ONGC and Indian Oil, have launched the MC² Foundation to pool capital and infrastructure for energy and industrial deeptech startups.
• Elon Musk’s Starlink has reapplied for Indian regulatory approval, this time highlighting its direct-to-device satellite technology.
• Leading FMCG, auto, and consumer durable companies are increasing their festive marketing budgets by up to 20% in anticipation of high demand.
• Shiprocket shares surged 10% following a bumper market debut, marking a cumulative 48% rally from its initial IPO price.
• The resolution professional for Byju’s has requested a 90-day extension to resolve the ongoing insolvency proceedings as negotiations continue.
• The Nifty price-to-book ratio has hit a six-year low, though analysts remain cautious about calling the market "cheap" amid current volatility.

Mint

• The Reserve Bank of India (RBI) has granted approval for LIC to increase its stake in HDFC Bank from 4% to 10%, a move expected to stabilize the banking giant's long-term capital structure.
• The Nifty 50 has recorded its longest spell of declines since September 2025, falling for the seventh consecutive session amid West Asian conflict concerns.
• Gold prices have surged by over 3% globally as a US Treasury announcement regarding bond buybacks has pressured yields and the dollar.
• Donald Trump has announced a "crushing economic operation" against Iran, leading to immediate spikes in Brent crude prices and impacting Indian energy imports.
• Reliance Jio’s recent tariff plan adjustments are expected to set the stage for a broader industry-wide hike in telecommunication prices.
• US and Indian fuel exporters are reporting record profits as global supply chains remain disrupted by ongoing conflicts in Iran and Ukraine.

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