NPCI BHIM Services Limited (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), announced on Wednesday that users can now access Tatkal NPS through the BHIM Payments App.

The Pension Fund Regulatory and Development Authority (PFRDA) introduced Tatkal NPS to help users open a National Pension System (NPS) account through the app in three simple steps, without visiting a branch or submitting fresh paperwork.

The onboarding process relies on existing bank-verified KYC details. Users need to enter their date of birth, select an eligible bank account and make their first NPS contribution through UPI.

Currently, Tatkal NPS on the BHIM Payments App supports banking customers of State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank and Bank of Baroda.

NBSL said it expects to add more banks to the service in the coming months.

Lalitha Nataraj, Managing Director and CEO of NBSL, said UPI has become part of the daily financial routine for hundreds of millions of Indians. She added that the next opportunity lies in expanding access to financial products such as NPS.

“UPI has already become a daily financial behaviour for hundreds of millions of Indians. The next opportunity is to improve access to products such as NPS. Tatkal NPS on BHIM addresses the first barrier, getting started, by allowing eligible users to open an NPS account directly through a UPI app. Tatkal NPS now enables eligible users to open an NPS account through the app, extending BHIM’s role from facilitating contributions to supporting NPS onboarding,” Nataraj said.

NPS offers a low-cost retirement savings option under PFRDA regulation. Subscribers invest their contributions in market-linked funds managed by regulated pension fund managers and can claim applicable tax benefits.

Tatkal NPS also supports PFRDA’s vision of building a pensioned society in which every citizen can work towards financial security in old age.

PFRDA Chairperson S. Ramann said UPI had transformed how Indians make payments and expressed confidence that Tatkal NPS could similarly change how they prepare for retirement.

“With just three clicks, any eligible citizen can open a pension account through our partnership with NPCI, banks and UPI apps. Our mantra is simple: Grow rich before you grow old. And we want this message to reach every street, every village and every Indian,” Ramann said.

Indian citizens aged 18 to 85 can open an NPS account through Tatkal NPS on the BHIM Payments App with a minimum initial contribution of Rs 250. They can make subsequent contributions starting at Rs 10, subject to applicable NPS rules.

Delhi Capitals have appointed former India all-rounder Yuvraj Singh as their assistant and batting coach ahead of the 2027 Indian Premier League (IPL) season, the franchise announced on Tuesday.

The 44-year-old, who has played 304 ODIs, 40 Tests and 58 T20Is and won multiple World Cups, has mentored several established and emerging Indian cricketers in recent years. The appointment marks his first formal coaching role and his coaching debut in the IPL.

Yuvraj’s appointment also reunites him with the Delhi franchise. In 2015, the team, then known as Delhi Daredevils, signed him for a record Rs 16 crore, making him the most expensive player in IPL history at the time. He represented the franchise in all 14 matches that season.

Speaking about his new role, Yuvraj said, “I am excited to begin a new chapter in my life with the Delhi Capitals. I have an old association with the franchise and know the owners well, which makes this a special opportunity for me. I’m also looking forward to teaming up with Dada, this time as coaches. Coaching is something I am truly passionate about, and I cannot wait to get started with this extremely talented squad. I’m sure it’s going to be an exciting journey for me, and I look forward to contributing to the team’s success.”

Delhi Capitals chairman and co-owner and JSW Sports founder Parth Jindal welcomed Yuvraj to the franchise and highlighted his experience and mentoring abilities.

“We are absolutely thrilled to welcome Yuvi to the Delhi Capitals family. Yuvi is one of Indian cricket’s greatest match-winners and someone who has played a pivotal role in mentoring many of the brightest young talents in Indian cricket today. His experience, winning mindset, and ability to connect with players will be invaluable to our squad,” Jindal said.

“We wish him all the very best as he takes on his first formal coaching role, and we are excited to begin this new chapter together. His return to the franchise also marks a special moment for everyone associated with the Capitals, and we look forward to seeing him work with Dada and the rest of the staff going forward,” he added.

Kiran Kumar Grandhi, co-owner of Delhi Capitals and founder of GMR Sports, also welcomed Yuvraj and expressed confidence in his contribution to the team.

“We are delighted to welcome Yuvraj Singh to Delhi Capitals as our Assistant & Batting Coach. His remarkable career, competitive spirit, and deep understanding of the game make him a tremendous addition to our coaching setup,” Grandhi said.

He added that Yuvraj’s insights, winning mindset and ability to mentor players could make a significant difference to the squad and its IPL campaign. Grandhi also wished him success as he begins his coaching career with the franchise.

Yuvraj played a pivotal role in India’s triumphs at the 2007 ICC T20 World Cup and the 2011 ICC Cricket World Cup. During his IPL career, he featured in 132 matches, scored 2,750 runs and claimed 36 wickets.

India’s rapid 5G adoption and digital public infrastructure (DPI) deployment demonstrate how scale, talent and ambition can drive inclusive growth and shape the next era of connectivity, GSMA Chair Gopal Vittal said on Wednesday.

Vittal said global standards and cross-market collaboration can accelerate innovation, strengthen trust and resilience, and ensure people worldwide benefit from connectivity.

The GSMA Board met in New Delhi last week to outline priorities for the next era of connectivity.

“India today is a leader in mobile connectivity, with 1.2 billion active connections, 450 million of which are 5G, underpinning India’s growing digital economy. The GSMA Board also had the chance to meet with key government and industry leaders, including the Prime Minister of India, Narendra Modi,” the organisation said in a statement.

Mobile technologies and services generated $6 trillion in economic value globally in 2025, equivalent to 6.4 per cent of global GDP. The contribution could reach $11.3 trillion by 2030.

As 5G adoption accelerates across markets, industry discussions have focused on how sustainable market structures can support investment in new technologies and how advanced capabilities, such as network slicing, can generate value across the wider economy.

By 2030, 5G is expected to account for 57 per cent of all mobile connections. Operators plan to invest $1.2 trillion in capital expenditure between 2025 and 2030 to expand and upgrade their networks.

GSMA highlighted India’s rapid 5G rollout as an example of the progress that sustained investment and clear market ambitions can deliver.

“India provides a concrete example of the benefits that come when policy reform enables greater industry investment in mobile infrastructure. In India, and across the world, mobile connectivity is creating new opportunities for businesses, communities and economies,” said GSMA Director General Vivek Badrinath.

Badrinath said the next priority is to turn rapid 5G expansion into tangible benefits while ensuring more people can access and participate in the digital economy. He stressed the need for sustained investment, supportive policies and collaboration across the wider ecosystem.

The Board also discussed the growing global threat of scams. In response, GSMA has made scam prevention a shared industry priority through its United Against Scams programme.

India’s dependence on critical materials remains a major vulnerability in its pursuit of technological sovereignty, Union Electronics and IT Minister Ashwini Vaishnaw said on Wednesday.

Vaishnaw stressed the need to rapidly develop domestic capabilities in materials essential for semiconductors and other advanced technologies.

He said the concentration of global critical material supply chains in a handful of countries poses a significant challenge to India’s ambitions of becoming a trusted technology and manufacturing hub.

He identified chemicals, gases, substrates and other semiconductor inputs as key areas where India must strengthen domestic expertise and expand production.

Countries that dominate material ecosystems today have spent decades developing their capabilities. However, Vaishnaw said India cannot afford to follow the same timeline and must accelerate efforts to build expertise in manufacturing, processing, storage and handling of critical materials.

Vaishnaw also said India’s semiconductor mission is expanding beyond chip fabrication and assembly to develop a comprehensive ecosystem spanning materials, chemicals, gases and substrates.

He noted that the second phase of India’s semiconductor programme places greater emphasis on these areas.

The minister said the government aims to move systematically from assembling finished products to manufacturing modules, components, materials and, eventually, capital equipment. He added that India needs a robust ecosystem to sustain manufacturing growth.

He clarified that India does not seek to eliminate its dependence on other countries through technological sovereignty. Instead, the country aims to address strategic vulnerabilities and build resilience in critical areas.

“When we look at tech sovereignty, we have to look at it in a very mature and very complex way. We are thinking more about strategic dependencies and resilience. Which are the products and segments in which we must have manufacturing, design and complete product development capabilities within our country? Which are the parts of the value chain where we can depend on other countries? Technology is always a global value chain,” Vaishnaw said.

“In whichever segment we want to play or whichever segment we are entering, we want to be a trusted partner. For example, in the 28-nanometre to 90-nanometre range, the legacy nodes, the production of a million-dollar machine can stop because of a one-dollar chip. So, can we position ourselves as a country that is trusted in design, manufacturing and the complete evaluation of the final product? That is how we look at it,” he added.

IBM and MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) on Tuesday to accelerate India’s deep-tech startup ecosystem through technology access, mentorship, skill development and enterprise engagement opportunities.

The partnership will combine MeitY Startup Hub’s nationwide innovation network with IBM’s expertise in artificial intelligence, hybrid cloud and quantum computing. The collaboration aims to help promising startups develop, validate and scale technology solutions for domestic and global markets.

Under the agreement, startups will gain access to IBM’s enterprise technology portfolio and innovation platforms to tackle business and industry challenges. IBM will provide technical guidance on its enterprise AI and data platform, IBM watsonx; IBM Bob, an AI coding agent for enterprises; and IBM Sovereign Core, an AI-ready software stack designed to support digital sovereignty.

The collaboration will also introduce startups to IBM’s hybrid cloud and quantum computing technologies, along with its security and automation solutions.

Dr. Panneerselvam Madanagopal, Chief Executive Officer of MeitY Startup Hub, said India’s startup ecosystem is emerging as a global centre for technology innovation.

“India’s startup ecosystem is emerging as a global engine for technology innovation. Through this collaboration with IBM, we aim to strengthen indigenous deep-tech capabilities, foster technology-led entrepreneurship and create greater opportunities for innovators to build solutions that contribute to a Viksit Bharat,” Madanagopal said.

Sandip Patel, Managing Director of IBM India and South Asia, said the partnership reflects a shared commitment to fostering innovation and strengthening India’s deep-tech startup ecosystem.

“This collaboration reflects our shared commitment to fostering innovation and strengthening our country’s deep-tech startup ecosystem. These startups are playing a pivotal role in shaping the future of technology-led growth for India and the world,” Patel said.

“Together with MeitY Startup Hub, we aim to help founders innovate faster, scale responsibly, and build solutions that address both national and global challenges, turning promising innovations into real-world impact,” Patel added.

Zoho Chief Scientist and Co-founder Sridhar Vembu said on Tuesday that the company has cut its marketing budget and informed employees that it cannot offer its usual annual pay increases this year amid an uncertain software business outlook and sharply rising artificial intelligence (AI) costs.

In a post on X, Vembu said AI has significantly increased operating expenses, while the company faces higher infrastructure costs and a challenging geopolitical environment.

He noted that server prices for data centres have increased fourfold, while rapidly growing AI usage continues to drive up expenses. Zoho is working to control these rising costs, he added.

“We have cut down on our marketing budget. We have also told our employees that we cannot have our usual pay increase this year. I have apologized for not being able to avoid this,” Vembu said in his post.

He also expressed concern about the outlook for software jobs and said Zoho would work to avoid large-scale layoffs.

“We will work hard to avoid mass layoffs but outlook for software jobs in general is grim. We have not been growing our employee count for 18 months now,” he said.

Vembu thanked employees for understanding the company’s situation and supporting its efforts during this period of uncertainty.

“Most of employees understand situation and I am thankful to them,” he added.

He said Zoho is undergoing a major transformation and that the next three to five years would determine the success of its reinvention.

“We are in middle of reinventing ourselves. Next 3-5 years will decide how our reinvention has worked. Please pray for us,” Vembu said.

Vembu Raises Concerns Over AI-Driven Tech Valuations

Earlier in May, Vembu cautioned that soaring valuations of the world’s largest technology companies, fuelled by investor enthusiasm for artificial intelligence, showed signs of a market bubble that could surpass the dot-com crash of the early 2000s.

He highlighted the price-to-sales ratios of major technology companies and argued that their market valuations appeared increasingly disconnected from underlying business fundamentals.

Vembu cited companies such as Nvidia, Apple, Alphabet, Microsoft, Meta Platforms and Micron Technology, noting that several traded at elevated multiples of their annual revenues.

To reinforce his concerns, Vembu referred to comments by former Sun Microsystems CEO Scott McNealy following the dot-com bubble’s collapse in the early 2000s.

McNealy had argued that investors paying ten times a company’s annual revenue would require extraordinary business performance and profitability over many years to justify such valuations.

Vembu’s latest remarks highlight the financial pressures that rising AI infrastructure costs and an uncertain software market can create, even as technology companies explore ways to adapt their businesses to rapid changes in the industry.

Monthly mutual fund investments through systematic investment plans (SIPs) reached a record high of Rs 32,490 crore in September, up from Rs 32,297 crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

The mutual fund industry’s total assets under management (AUM) stood at Rs 82.64 lakh crore during the month, while net inflows into equity funds rose 30.6 per cent to Rs 38,306.55 crore.

AMFI data showed that open-ended equity schemes attracted investments worth Rs 74,831.96 crore in September, while investors redeemed Rs 36,525.41 crore. Net assets under management for equity schemes reached Rs 37.54 lakh crore, while the average AUM for the month stood at Rs 38,50,660.61 crore.

Small-Cap Funds Lead Equity Inflows

Small-cap funds attracted the highest net inflows among equity fund categories, drawing Rs 9,038.57 crore during September. These funds recorded gross investments of Rs 13,025.13 crore against redemptions of Rs 3,986.56 crore across 3.03 crore folios.

Mid-cap funds attracted net inflows of Rs 7,834.84 crore, followed by flexi-cap funds at Rs 6,701.80 crore. Large-and-mid-cap funds received Rs 4,271.22 crore, while multi-cap funds attracted Rs 3,859.55 crore.

Thematic funds recorded net inflows of Rs 1,800.07 crore, while sectoral funds attracted Rs 1,840.02 crore. Focused funds received Rs 1,390.84 crore, value funds drew Rs 1,290.89 crore, and large-cap funds attracted Rs 859.47 crore.

However, contra funds recorded net outflows of Rs 97.88 crore, while equity-linked savings schemes (ELSS), which offer tax-saving benefits, saw outflows of Rs 662.14 crore.

Exchange-Traded Funds Attract Strong Investments

Exchange-traded funds (ETFs) recorded net inflows of Rs 15,501.40 crore in September, according to AMFI data.

Equity ETFs led the category with net inflows of Rs 9,959.96 crore. Gold ETFs attracted Rs 4,450.61 crore, while silver ETFs recorded inflows of Rs 1,974.32 crore.

The latest figures reflect continued investor participation in mutual funds through systematic investment plans and other investment products.

SIP Contributions Maintain Upward Momentum

In August, equity mutual funds recorded net inflows of Rs 29,328.62 crore. Meanwhile, monthly SIP contributions reached Rs 31,961 crore in July, marking a 12.28 per cent increase year-on-year.

September’s record SIP contribution of Rs 32,490 crore highlights the growing role of systematic investing in India’s mutual fund industry. SIPs allow investors to invest a fixed amount at regular intervals, helping them build investment discipline over time.

Actress and politician Hema Malini celebrated the beginning of Navratri with a performance of her popular dance ballet ‘Durga’ at a special event in Telangana.

The veteran actress shared her experience on Instagram after performing at the ‘Agra Dandiya Navratri Celebration’ at the Classic Convention Centre on October 11. The event also marked Maharaja Agrasen Jayanti.

Expressing her happiness, Hema Malini wrote, “It was a joy and pleasure to perform my most popular ballet Durga at the first day of Navratri at the Classic Convention Centre for the Agarwal Samaj, Telangana’s ‘Agra Dandiya Navratri Celebration,’ it also marked the Maharaja Agrasen Jayanti on 11.10.2026.”

She also extended her wishes to followers, wishing everyone a happy Navratri and Durga Puja.

Hema Malini shared a video of her performance, offering a glimpse of her portrayal of Parvati Mata in the dance ballet. Dressed as the Hindu goddess, the veteran actress brought the mythological character to life through graceful movements and expressive classical dance. Her traditional attire and devotional presentation captured the spiritual essence of the performance and celebrated the divine feminine.

Hema Malini Celebrates the Power of Goddess Durga Through Dance

The dance ballet ‘Durga’ pays tribute to Goddess Durga and the power of the divine feminine. Through classical dance and stories rooted in Hindu mythology, the production conveys the message of good triumphing over evil.

Beyond her successful film career, Hema Malini has established herself as a prominent figure in Indian classical dance. Through her stage productions, she brings mythological stories and India’s rich cultural heritage to audiences.

The veteran performer has previously described dance as a deeply spiritual experience that allows her to express devotion and remain connected to tradition.

She has also spoken about the special experience of performing ‘Parampara’ alongside her daughters, Esha Deol and Ahana Deol. The production gave the family an opportunity to share their artistic heritage and carry India’s classical dance traditions forward.

Hema Malini’s latest performance in Telangana reflects her continued commitment to classical dance and devotional storytelling. Her portrayal of the divine feminine added a cultural and spiritual dimension to the Navratri celebrations, a festival that honours Goddess Durga and celebrates the triumph of good over evil.

India is breaking down barriers to economic growth and emerging as a major pole in an increasingly multipolar world as global capital flows shift, trade divisions deepen and artificial intelligence reshapes industries, according to a Bloomberg Economics report released on Monday.

The report highlights how changing investment patterns, geopolitical tensions and rapid advances in AI are creating new opportunities and challenges for India and the global economy.

The AI revolution continues to gather pace, a growing number of free-trade agreements are opening new export opportunities, and urbanisation is accelerating across India. Against this backdrop, India is strengthening its position in the global economic landscape, said Tom Orlik, chief economist at Bloomberg Economics.

The report estimates that India’s expanding network of free-trade agreements could add $140 billion to $170 billion to its gross domestic product (GDP) by 2035.

Domestic reforms aimed at reducing manufacturing costs and shifting agricultural labour towards more productive sectors could further increase the economic benefits of these trade agreements, the report added.

Global capital flows are also becoming more concentrated and increasingly influenced by geopolitical considerations. According to the report, investment flows between rival nations have fallen around 40 per cent below those between allied countries. Investors are also directing more capital towards artificial intelligence and semiconductor industries.

For India, sustaining economic momentum will require the country to compete with the United States for global investment, particularly as strong demand from the US technology sector and tariff incentives attract capital.

Artificial intelligence could increase India’s annual GDP growth by up to 0.9 percentage points, providing additional momentum towards Prime Minister Narendra Modi’s goal of transforming India into a developed economy by 2047, the report said.

However, infrastructure limitations could prevent the country from fully realising these gains. India’s information technology services industry faces both significant opportunities and potential disruption as AI adoption expands.

While AI could help Indian IT companies move up the value chain by offering more advanced and specialised services, automation could also weaken the cost advantages that have traditionally supported the sector’s growth.

The report also highlighted the economic potential of India’s rapidly expanding urban population. It estimates that 820 million Indians live in urban areas, making urban development a critical factor in the country’s future productivity growth.

Strengthening municipal governance, improving infrastructure and adopting more effective land-use planning could help India convert its growing urban population into a powerful driver of economic expansion, the report noted.

India’s ability to capitalise on these opportunities will depend on how effectively it combines trade expansion, domestic reforms, technological adoption and infrastructure development amid a changing global economic environment.

India’s leading e-commerce marketplaces recorded an estimated Rs 24,000 crore in sales during the first two days of the festive shopping season as consumers increased their spending on smartphones, electronics, appliances and fashion, according to a report by Redseer Strategy Consultants.

Online platforms, including Amazon, Flipkart, Meesho and Ajio, generated a combined gross merchandise value (GMV) of more than $2.5 billion, or approximately Rs 24,200 crore, during the opening two days of festive sales, the consultancy estimated.

Redseer reported that shoppers across the country placed around 8-9 crore orders, while approximately 6-6.5 crore consumers participated in the shopping event.

The festive sales value reached nearly six times the average daily business-as-usual run rate, highlighting strong consumer demand during the opening days of the shopping season.

Smartphones led sales across categories, contributing 38-40 per cent of total GMV. The segment generated an estimated Rs 9,100-9,600 crore during the first two days.

Consumer electronics ranked second, accounting for around 25-27 per cent of total sales, or approximately Rs 6,000-6,500 crore.

Fashion products contributed 15-18 per cent of overall GMV, generating an estimated Rs 3,630-4,350 crore during the period, the report noted.

Large appliances and electronics also attracted strong demand. Televisions, refrigerators and air conditioners together accounted for more than two-thirds of large-appliance sales.

In the television segment, 55-inch models from brands such as TCL, LG, Samsung and Xiaomi dominated consumer demand. These models represented more than three-fourths of the top-selling stock-keeping units (SKUs), according to Redseer.

The consultancy noted that electronics sales had already grown by more than 20 per cent in the first half of 2026 as consumers brought forward purchases amid expectations of higher prices later in the year.

During the first two days of festive sales, electronics orders climbed to nearly 14 times their normal daily levels. Strong demand for laptops and internet-connected devices helped drive the surge.

Fashion also emerged as a major contributor to festive shopping growth. The segment recorded a 22-25 per cent year-on-year increase in GMV, while sales reached three to five times average daily levels.

Affordable festive apparel attracted particularly strong demand in Tier 2 cities and smaller towns, further supporting the fashion category’s performance.

The strong opening reflects the growing importance of festive sales for India’s e-commerce industry, as online marketplaces attract millions of shoppers with discounts, product launches and promotional offers across major consumer categories.