News Headlines 19 November 2025: Read Today’s Banking, Finance, Economy, Business News
MORNING NEWS BULLETIN
SBI Chairman pitches for National Financial Grid to unify credit and digital infrastructure
SBI Chairman C.S. Setty has proposed a National Financial Grid to connect systems like credit bureaus, fraud registries, eKYC, UPI and account aggregators. He said this will strengthen digital lending, improve risk checks and make data sharing easier. Setty also said that technology works only when staff and customers understand it, so banks must focus on training. He added that SBI is working with regulators to make KYC and re-KYC simpler and more user-friendly.
Indian space sector to grow from $8 billion to $45 billion in next decade: Jitendra Singh
India’s space sector is expected to grow from $8 billion to $45 billion in the next 10 years, Union Minister Jitendra Singh said at the India International Space Conclave (IISC) 2025 in New Delhi. He said space reforms in the last five years have transformed the sector and that space will play a major role in India’s economic growth. Singh added that 70% of India’s space applications focus on improving everyday life for citizens, which makes India’s approach unique. The event was organised by the Indian Space Association (ISpA) along with ISRO and IN-SPACe.
Bitcoin crashes to 6-month low
Bitcoin has fallen sharply and is now trading near $90,000, its lowest level in six months. The drop has wiped out all the gains made in 2025. From its October high of $126,000, Bitcoin has fallen nearly 30%, pulling its market value below $2 trillion again. Experts say there is heavy selling pressure across both derivatives and Bitcoin ETFs. ETF outflows have reached $815 million, and total outflows this week are close to $2 billion. Strong US economic data has also reduced chances of a December rate cut, making investors more cautious. The wider crypto market has also fallen. Ethereum is now below $3,000, Solana has dropped more than 20% this week, and XRP is down 16%. The global crypto market cap has fallen about 6% this week.
Govt to notify new ITR forms by January 2026
The Income Tax Department will issue the new income-tax return (ITR) forms and rules under the revised Income Tax Act, 2025 by January. These new rules will come into effect from April 1, 2026, marking the shift away from the old 1961 tax law, CBDT chairman Ravi Agrawal said.
India re-elected to Codex Executive Committee
India has been re-elected to the Codex Executive Committee (CCEXEC) for the Asia region with unanimous support from global members. This means India will continue to represent Asia’s food safety and trade priorities at Codex until 2027. Codex is the international body that sets global food standards and is run by the FAO and WHO.
Pre-Budget consultations: FM Sitharaman meets market experts, startups
Finance Minister Nirmala Sitharaman on Tuesday held the fifth round of pre-Budget consultations, meeting key stakeholders from India’s startup ecosystem as preparations continue for the Union Budget 2026–27. The meeting in New Delhi is part of the Finance Ministry’s wider exercise to gather sector-wise suggestions and expectations before finalising the Budget.
India eyes shipbuilding collaboration with Japan
Union Petroleum Minister Hardeep Singh Puri said on Tuesday that he met senior executives of Japan’s top shipping companies to explore partnerships in shipbuilding, with the goal of making India a global maritime hub. Puri, who is visiting Japan, met Yukikazu Myochin, Chairman of “K” Line, and discussed India’s plans to grow its maritime sector under the leadership of Prime Minister Narendra Modi. He said “K” Line’s long experience in shipbuilding, monitoring, delivery and chartering can strongly support India’s “Make in India for the World” vision. Puri also met Nobuhiro Kashima of NYK Line Japan to discuss ongoing shipping business with Indian public sector oil companies and future cooperation in areas such as technology transfer, shipbuilding, knowledge sharing and joint operations.
India’s October services exports outpace goods exports by 11 pc
India’s services exports grew to $38.5 billion in October, 11% higher than goods exports, showing a strong rebound. Services also recorded a record trade surplus of $20 billion, an HSBC report said. Gold imports surged 58% due to Diwali demand, rising to $14.7 billion. Meanwhile, core imports slowed after last month’s jump, though electronics and machinery remained strong. India’s goods trade deficit widened to a record $41.7 billion in October. Exports to the US fell for the second straight month, and exports to other countries also lost momentum amid rising global competition.
India’s IT spending to grow 10.6 pc to reach $176.3 billion in 2026
India’s IT spending is expected to rise 10.6% to $176.3 billion in 2026, driven by strong adoption of cloud, AI, and digital technologies, according to Gartner. The data centre systems segment will see the fastest growth, jumping 20.5% to $9.38 billion because of rising AI infrastructure needs and new government programmes. Software spending is expected to grow 17.6% to $24.7 billion, supported by AI-enabled tools. IT services spending will increase 11.1%, helped by growth in cloud infrastructure (IaaS), consulting, and app modernisation. Devices spending is projected to grow 9.9% to $66.4 billion, while communication services will rise 5.4% to $40.4 billion.
India’s entertainment sector to grow 7 pc annually to cross Rs 3,000 billion by 2027
India’s media and entertainment sector is expected to grow 7% annually and reach ₹3,067 billion by 2027, with the government aiming for a $100 billion industry by 2030. The AVGC-XR sector has been identified as a major growth driver, projected to generate 20 lakh jobs in the next decade. India’s cost advantage and skilled workforce have boosted global demand for its animation and VFX services, with 25% of OTT viewership coming from overseas. The government is strengthening training, digital infrastructure and innovation through institutions like the Indian Institute of Creative Technologies, supported by global tech partners such as Google, Meta, Microsoft and NVIDIA.
Q2 GDP likely to be around 7.5 pc on festive demand boost: SBI Research
India’s economy is likely to grow strongly in Q2 FY26, with GDP expected to be around 7.5%, according to an SBI Research report. Growth is being supported by higher investments, improving rural demand, and strong performance in manufacturing and services. SBI said that 83% of key economic indicators improved in Q2, up from 70% in Q1. Festive season demand, lower GST rates and strong e-commerce activity boosted consumer spending, especially in mid-tier cities. Debit card and credit card data showed higher spending on autos, groceries, electronics and travel.
Domestic air passenger traffic to grow by 4-6 pc in FY26
India’s domestic air passenger traffic rose to 142.8 lakh in October, up 4.5% YoY and 12.9% from September, ICRA said. The sector outlook is stable, with FY26 domestic growth expected at 4–6%. Passenger Load Factor improved to 84.7%. International traffic grew 5.8%, and FY26 growth is expected at 13–15%. Rising ATF prices remain a major cost challenge. DGCA has proposed allowing free cancellations/changes within 48 hours of booking and faster refunds.
India, Russia explore collaboration on shipbuilding, maritime cooperation
India and Russia held high-level meetings to discuss cooperation in shipbuilding, trade, scientific and technical areas, the government said. The talks were led by Union Minister Sarbananda Sonowal and Nikolai Patrushev in New Delhi and reviewed the full range of maritime partnership. Both sides reaffirmed their strong strategic relationship and agreed to deepen cooperation in shipbuilding, port development, maritime logistics, Arctic operations, research and training. The Commerce Secretary also met Russian leaders in Moscow to discuss the proposed India–EAEU Free Trade Agreement, focusing on supply-chain strength, regulatory clarity and increasing bilateral trade to $100 billion by 2030.
Domestic aviation industry’s loss may widen to Rs 9,500-10,500 cr this fiscal
India’s aviation industry is expected to see much higher losses this year, with net losses projected to nearly double to ₹9,500–10,500 crore by March 2026, according to ICRA. The decline is mainly due to slower passenger growth and higher costs from new aircraft deliveries. ICRA, which maintains a stable outlook, expects domestic passenger traffic to grow 4–6% in FY26, but says airlines will remain under financial pressure. The industry’s losses are projected to rise sharply from ₹5,500 crore in FY25, and the interest coverage ratio is expected to stay between 1.5 and 1.7 times.
Samsung FY’25 revenue rises over 11 per cent to Rs 1.11 lakh crore
Samsung India Electronics’ revenue from operations grew over 11% to ₹1.11 lakh crore in FY25, according to its RoC filing. The company had posted ₹99,541.6 crore in revenue in FY24. With this rise, Samsung India has crossed the ₹1 lakh crore revenue mark for the first time.
UIDAI mulling to issue Aadhaar with photo, QR code to discourage offline verification
UIDAI is considering issuing a new Aadhaar card that will display only the holder’s photo and a QR code, to prevent data misuse and stop illegal offline verification, UIDAI CEO Bhuvnesh Kumar said. Speaking at an online conference, he explained that many entities like hotels and event organisers still verify Aadhaar by looking at printed details, which violates the law. The proposed rule, expected in December, aims to limit printed information and improve age verification while protecting user privacy.
Bank of Baroda inks pact with Sidbi to boost credit flow to small biz
Bank of Baroda on Tuesday announced a partnership with Sidbi to improve credit flow to small businesses and startups. Under the MoU, both institutions will provide joint financing to MSMEs, enable Sidbi-sanctioned borrowers to access Bank of Baroda’s working capital platform, and work together on export promotion, the bank said in a statement.
