News Headlines 29 November 2025: Read Today’s Banking, Finance, Economy, Business News

News Headlines 29 November 2025

SEBI Reclassifies REITs as Equity Instruments from January 1, 2026

SEBI has announced a major regulatory shift: from January 1, 2026, Real Estate Investment Trusts (REITs) will officially be treated as equity-related instruments, opening the door for higher participation from Mutual Funds and Specialised Investment Funds. Infrastructure Investment Trusts (InvITs), however, will continue to be treated as hybrid instruments. Existing REIT holdings in debt schemes will be grandfathered, and AMCs have been advised to gradually divest based on market conditions. SEBI has also instructed AMFI to include REITs in its market-cap-based classification and clarified that REITs may be included in equity indices after July 1, 2026.

India’s GDP Set to Cross $4 Trillion by March 2026, Says SBI Research

SBI Research projects India’s GDP growth at 7.5–7.7% in Q3 FY26 and 7.0–7.1% in Q4 FY26, driven by rising credit demand and GST rationalisation. With 7.6% full-year growth, GDP is expected to cross $4 trillion by March 2026 and reach $4.4 trillion in FY27, putting India on track for a $5 trillion economy by 2029. Strong domestic demand, robust MSME credit growth, low inflation, and a six-quarter high 8.2% growth in Q2 FY26 are boosting momentum. The gap between real and nominal GDP has sharply narrowed, while Core GVA grew 8.5%, signaling broad-based strength across the economy.

India’s FY26 GDP Growth Expected at 7.4–7.6% as H1 Expansion Stays Strong at 8%

Economists expect India’s GDP growth for FY26 to be in the 7.4%–7.6% range, after the economy delivered a solid 8% growth in the first half of the year. Q2 FY26 GDP rose 8.2%, beating estimates for a second straight quarter, while Q1 had grown at 7.8%. Experts say the momentum is being driven by stronger consumption, GST rationalisation, festive-season demand, record auto sales, and a revival in urban spending. Crisil has revised India’s FY26 GDP forecast to 7% from 6.5%, citing robust manufacturing and services growth. Industry bodies like Assocham and PHDCCI say the latest data reflects India’s strong economic fundamentals, policy stability, and broad-based sectoral expansion — keeping the country among the world’s fastest-growing major economies.

RBI Fines HDFC Bank and Mannakrishna Investments for Regulatory Violations

The Reserve Bank of India has imposed monetary penalties on HDFC Bank and Mannakrishna Investments Pvt. Ltd. for multiple violations of regulatory norms. HDFC Bank has been fined ₹91 lakh for breaching provisions of the Banking Regulation Act, including using multiple benchmarks within the same loan category, allowing its subsidiary to conduct prohibited business activities, and outsourcing KYC compliance checks — a violation of RBI’s outsourcing and KYC guidelines.

Mannakrishna Investments was penalised ₹3.10 lakh for governance lapses after appointing a director without RBI’s prior approval, which caused a management change of more than 30 percent. RBI clarified that these actions are strictly related to compliance failures and do not affect the validity of customer transactions.

India Nears 1 Billion Broadband Users as Wireless & Wireline Subscribers Continue to Grow

India’s broadband base rose to 999.81 million in October, while total wireless subscribers climbed to 1.18 billion. Private operators held over 92% of mobile users, and wireline connections grew slightly to 46.75 million. PSU providers maintained 20.22% share in wireline services. The month also saw 15.05 million MNP requests, highlighting intense competition in the telecom sector.

India’s GDP Jumps to 8.2% in Q2 FY26, Fastest Among Major Economies

India’s economy posted a strong 8.2% GDP growth in Q2 FY26, up sharply from 5.6% last year, driven by robust manufacturing (9.1%), construction (7.2%), and double-digit expansion in financial and real estate services (10.2%). Overall GDP growth for the first half of FY26 now stands at 8%, confirming India as the world’s fastest-growing major economy despite global uncertainties. Consumption remained strong, inflation stayed at historic lows, and high-frequency indicators show continued momentum in both manufacturing and services. Strong exports, remittances, stable external debt, and healthy forex reserves are helping India stay resilient against global trade headwinds.

Microfinance Portfolio Shrinks 14% as Funding Crunch Pushes 50 Lakh Borrowers Out of Formal Credit

India’s microfinance sector saw its portfolio outstanding fall 14% year-on-year to ₹3.39 lakh crore as of September 30, marking the sixth consecutive quarterly decline, according to MFIN. NBFC-MFIs contributed the largest share at 39.2%, followed by banks at 31.4%, while SFBs and NBFCs accounted for the rest. Despite a sharper 16.8% drop in Q2 FY26 outstandings, asset quality improved—Portfolio at Risk (31–90 days) fell to 1.09%, and 98% of clients remained within MFIN Guardrails, indicating disciplined lending.

PE/VC Investments Surge to $5.3 Billion in October, Led by Massive Jump in PIPE Deals

Private equity and venture capital investments in India rose to $5.3 billion in October 2025, driven by a tenfold surge in PIPE deals and strong activity in financial services and e-commerce. While the number of deals slightly declined, large transactions dominated the month, and start-up funding increased sharply. The report also highlights strong future prospects for industrials and notes that upcoming political and global policy shifts may further boost investor sentiment.

India Expands Global Energy Partnerships from 27 to 40 Countries, Says Hardeep Singh Puri

India’s global energy footprint has grown sharply over the past decade, with partnerships rising from 27 countries to 40, Union Petroleum Minister Hardeep Singh Puri said. He credited the expansion to stronger energy diplomacy, wider sourcing networks, and trusted global alliances under PM Narendra Modi’s leadership. Puri highlighted that India is steadily positioning itself as a major global refining hub, with refining capacity expected to rise from 258 MMTPA to nearly 310 MMMPA by 2030, and eventually to 400–450 MMTPA. Despite global slowdown, India remains a key driver of global energy demand and has already exported petroleum products worth over $45 billion, reaching more than 50 countries.

India Negotiating Trade Deals With Nearly 50 Countries, Says Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal announced that India is currently discussing fair and balanced trade agreements with 14 countries or blocs representing nearly 50 nations, including the US, EU, GCC, Canada, Israel, New Zealand, South Africa, Eurasia and Mercosur. Speaking at FICCI’s annual meeting, he highlighted that India has already concluded equitable FTAs with Australia, UAE, Mauritius, the UK and the EFTA bloc, which has committed $100 billion in investments. Goyal emphasised India’s push for trusted trade partnerships, self-reliance under Atmanirbhar Bharat, and growing strengths in innovation, technology and skilled youth. He said new initiatives—including a $12 billion RDI fund, semiconductor mission, and labour reforms—are strengthening India’s competitiveness and positioning the country to become a major global economic and technological hub by 2047.

Government Allows Private QCI-Accredited Agencies to Speed Up Coal & Lignite Exploration

The government has approved a major reform by allowing private entities accredited by the Quality Council of India (QCI) to conduct prospecting operations for coal and lignite exploration. This move adds 18 new authorised agencies, giving coal block allottees greater flexibility and significantly reducing delays. According to the Ministry, the reform will save around six months, which was earlier needed to obtain prospecting licences, thereby accelerating mine operationalisation. The step aims to boost efficiency, competitiveness, and technological innovation in the exploration ecosystem while strengthening India’s energy security by ensuring faster development and increased availability of coal and lignite.

Moody’s Projects India to Lead APAC Growth With 7% GDP in 2025, 6.4% in 2026

Moody’s Ratings expects India to remain the fastest-growing major economy in Asia-Pacific, forecasting 7% GDP growth in 2025 and 6.4% in 2026, supported by strong domestic demand and economic resilience despite global disruptions. The agency reaffirmed India’s Baa3 rating with a stable outlook, citing its large, fast-growing economy and strong external position, though fiscal weaknesses and high government debt remain concerns. Moody’s said US tariff hikes will have only a limited near-term impact, though they could slow India’s long-term export manufacturing ambitions.

Piyush Goyal Urges Stronger R&D Push as Global Firms Commit $100 Billion Investment in India

Union Commerce and Industry Minister Piyush Goyal called for deeper industry participation in research and development, highlighting that global companies have pledged $100 billion in investments in India. Speaking at FICCI’s 98th anniversary event, he emphasised India’s path toward self-reliance, innovation and youth-driven growth, linking these goals to the nation’s civilisational ethos and PM Modi’s development-focused governance. Goyal urged India Inc. to move beyond protectionism and embrace competition, advanced technology and high standards. He underlined India’s strong advantage in emerging tech—especially AI—driven by its young, digitally skilled population, and called for greater collaboration between industry and government to boost skilling, innovation and global competitiveness.

Indian IT Sector Shows Early Signs of Recovery as Deal Wins Improve: BNP Paribas Report

India’s IT industry is beginning to show signs of a slow but steady recovery, with deal pipelines strengthening and the revenue outlook stabilising, according to a new BNP Paribas report. While Indian IT firms grew only 1.2% in constant currency during the September 2025 quarter—lagging behind global players—the sector recorded strong deal wins and improving sentiment. BFSI led global revenue growth at 7.9%, and Europe outpaced the Americas in regional recovery. The report notes that project delays have bottomed out, margins have improved due to higher productivity and lower attrition, and Indian IT firms outperformed global peers in total contract value (TCV) of deals signed, signalling healthier prospects ahead.

Reliance Industries Gets ₹56.44 Crore GST Penalty, Plans to Appeal

Reliance Industries has received a ₹56.44 crore penalty order from the Joint Commissioner of CGST, Ahmedabad, which classifies the company’s input tax credit as blocked credit. The order, dated November 25 and received on November 27, was issued under Section 74 of the CGST and Gujarat GST Acts. Reliance said the decision was made without considering the original service classification by the provider and confirmed it will file an appeal. The company stated that the financial impact is limited to the penalty amount and that there is no effect on its operations or business activities. Despite the notice, Reliance’s stock remained stable, trading slightly higher after the market opened.

Apple to Open First Store in Noida on December 11, Expanding Its Retail Footprint in India

Apple will open Apple Noida—its first retail store in the city and fifth in India—on December 11 at DLF Mall of India. The store will showcase Apple’s latest products, including the iPhone 17 series and M5-powered iPad Pro and MacBook Pro, and offer personalised support through Specialists, Creatives, and Geniuses. The store design features a vibrant peacock-inspired theme, reflecting Apple’s celebration of Indian culture. Customers can also join free “Today at Apple” creative sessions. Apple’s retail expansion follows strong performance at its first two India stores, which generated nearly ₹800 crore in their first year.