The Union government has officially approved an 8.25 percent interest rate on Employees' Provident Fund (EPF) deposits for the financial year 2025-26. This decision, impacting millions of salaried employees, follows a recommendation from the EPFO's Central Board of Trustees. Subscribers can anticipate the interest credit after administrative processes are finalized, reinforcing EPF's role as a vital social security and retirement savings instrument for the Indian workforce. Members are also reminded to update nominations using Aadhaar or Virtual ID.
The State Bank of India (SBI) has released its official notification for the recruitment of 1500 Probationary Officers (PO) for the 2026-27 financial year. Online applications commenced on June 18, 2026, and will close on July 8, 2026. This year's recruitment introduces mandatory Aadhaar verification, an increase in permissible attempts, and a revised Mains descriptive test marking scheme. The selection process involves preliminary and main examinations, followed by psychometric tests, group exercises, and interviews.
The National Stock Exchange's long-awaited initial public offering is nearing, poised to create market shifts, including potential temporary pressure on Bombay Stock Exchange shares. Simultaneously, NSE faces unresolved co-location and dark fiber cases, proposing a substantial settlement to SEBI. Concurrently, its Social Stock Exchange is innovating fundraising for social impact, emphasizing accountability in the skilling sector.
The Central Government has approved an 8.25% interest rate for Employees' Provident Fund (EPF) members for the financial year 2025-26, benefiting over 7 crore employees. This decision paves the way for the Employees' Provident Fund Organisation (EPFO) to credit interest amounts to subscriber accounts soon. Additionally, EPFO is set to introduce direct provident fund withdrawals via ATM and UPI by the end of this month, enhancing liquidity and convenience for its vast subscriber base.
Turtlemint Fintech Solutions is set to launch its Initial Public Offering (IPO) on June 19, aiming to raise ₹883 crore. The fintech company has set its price band at ₹144-152 per share. As of June 18, 2026, the Grey Market Premium (GMP) for the IPO stands at ₹2, indicating early investor sentiment. The offering includes a fresh issue of shares to fund its growth initiatives.
The National Stock Exchange of India is set for its long-awaited Initial Public Offering, filing draft papers for what is anticipated to be one of India's largest listings. Poised alongside Reliance Jio's offering, the NSE IPO is expected to contribute to a $6 billion pipeline, signaling a transformative phase for Indian capital markets. Experts view it as a major milestone, promising to reshape market dynamics and investor participation.
The U.S. Federal Reserve maintained interest rates, despite inflation climbing above 4%, but indicated potential future hikes, prompting sharp market reactions. Newly appointed Chairman Kevin Warsh addressed the policy decision. Following the Fed's move, the Hong Kong Monetary Authority also kept its base rate unchanged at 4 percent, underscoring global financial interconnectedness.
The U.S. Federal Reserve maintained its benchmark interest rate this week, marking new Chair Kevin Warsh's inaugural policy meeting. Despite persistent inflation, the central bank opted for stability, yet a notable shift among officials indicates an increased likelihood of rate hikes by year-end. This decision sets the stage for a delicate balancing act for the Fed in navigating economic pressures.
The highly anticipated Grand Theft Auto VI is expected by investment bank Piper Sandler to become the most commercially successful launch in entertainment history, potentially breaking first-day sales records. While Rockstar Games maintains secrecy, leaks regarding its release date, price, and Trailer 3 fuel fan speculation. Meanwhile, the UK government has reportedly engaged employees to play GTA Online to gain insights into citizens' 'lived experiences'. The gaming world eagerly awaits official announcements for this monumental title.
Rail Vikas Nigam Limited (RVNL), a Navratna Public Sector Undertaking, has been awarded a substantial Engineering, Procurement, and Construction (EPC) contract worth ₹967.93 crore by East Coast Railway. This crucial project involves the construction of four significant river bridges and new railway lines, underscoring RVNL's pivotal role in India's ongoing infrastructure development and railway modernization efforts. The project is slated for completion within 1095 days.
SpaceX, led by Elon Musk, has made a monumental move into advanced artificial intelligence by acquiring the fast-growing AI startup Cursor for an astonishing $60 billion in an all-stock deal. This strategic acquisition is set to significantly bolster SpaceX's enterprise AI capabilities and underscores Musk's expansive vision for the pivotal role of software in its diverse operations, transforming Cursor's four young founders into billionaires.
Turkish ground-handling giant Celebi Aviation was forced to cease operations in India after its security clearance was revoked on May 15, 2025, amidst heightened geopolitical tensions between India and Turkey. The move followed Turkey's perceived support for Pakistan during 'Operation Sindoor,' with Celebi claiming a loss of up to $500 million in business value. This significant decision underscores India's firm stance on national security and has broader implications for Turkish firms operating in the country.
The Assessment Year 2026-27 ushers in a significant overhaul of India's income tax compliance framework. Key changes include revised return filing deadlines, adjustments to revised return procedures, and updated audit penalty regulations. Individual taxpayers face a primary deadline of July 31 for filing their Income Tax Returns, as the season progresses. These reforms aim to streamline the tax process and enhance compliance across various taxpayer categories, introducing new considerations for businesses and individuals alike.
Business News — Bharat News Narratives | Bharat News Narratives
Image: Unsplash
