SBI to Hire 18,000 Employees in FY26: Biggest Drive in a Decade
State Bank of India (SBI) has announced plans to recruit approximately 18,000 employees in the financial year 2025-26, marking its largest hiring initiative in ten years. The recruitment will include around 13,500 to 14,000 clerical staff, 3,000 probationary officers and local-based officers, and 1,600 system officers for IT and digital roles.
Uber Ends Talks with BluSmart; Evera Cabs Steps In
Uber has called off discussions to integrate 5,000 electric vehicles from BluSmart into its platform, citing high valuation and regulatory concerns.
Meanwhile, Evera Cabs is acquiring 500 electric vehicles previously operated by BluSmart, with plans to onboard up to 1,000 vehicles in total.
Maharashtra’s New Cab Policy: Compensation for Ride Cancellations
The Maharashtra government has introduced the Aggregator Cabs Policy 2025, mandating ride-hailing companies like Ola and Uber to compensate passengers if drivers cancel rides. Passengers will receive either ₹100 or 10% of the fare, whichever is lower. Conversely, if a passenger cancels, the driver will receive ₹100 or 50% of the fare, whichever is lower.
Bhavish Aggarwal Plans to Transfer Ola Brand IP to Family Office
Bhavish Aggarwal, CEO of Ola, is reportedly planning to transfer the intellectual property rights of the Ola brand from ANI Technologies to a holding company controlled by his family office. This move has raised concerns among investors about potential revenue losses from brand licensing. Inc42 Media
Reliance Jio Shifts to In-House 5G Equipment to Cut Costs
Reliance Jio is transitioning to locally manufactured 5G equipment to reduce costs and dependence on global vendors.The shift is expected to result in cost savings of up to 50-60% and accelerate the deployment of 5G infrastructure across India.
Duolingo: Millions of Indian Users, Less Than 1% Paying
Duolingo CEO Luis von Ahn revealed that while the language-learning app has millions of users in India, less than 1% are paying subscribers. This highlights the challenge of monetizing digital services in the Indian market.
Quick Commerce Boom: Blinkit, Zepto, and Swiggy Deliver Over 4 Million Orders Daily
In March 2025, Blinkit, Zepto, and Swiggy Instamart collectively delivered between 4.15 and 4.45 million orders per day, more than doubling their daily order volume compared to March 2024.
Trump Proposes 100% Tariff on Foreign-Made Movies
President Donald Trump has proposed a 100% tariff on all foreign-produced films, citing national security concerns and the need to protect the American film industry. The proposal has sparked criticism and concerns about potential retaliatory measures from other countries.
Adani Group Seeks to Resolve US Bribery Case
Representatives from the Adani Group have met with officials from former President Trump’s team to discuss resolving a US bribery case. The case involves allegations of inadequate disclosure regarding anti-bribery compliance in connection with a $750 million bond issuance.
Battery Smart’s Losses Double to ₹140 Crore in FY24
Battery Smart, an EV startup specializing in battery-swapping networks, reported a net loss of ₹140 crore in FY24, doubling from ₹61 crore in the previous fiscal year. The increased losses are attributed to higher operational expenses amid expansion efforts.
Apple Plans Staggered Launch for iPhone 18 Series
Apple is reportedly planning to launch the iPhone 18 series in two phases in 2026. The premium models, including iPhone 18 Pro and Pro Max, are expected in the fall, while standard and budget models will follow in the spring of 2027.
Anysphere Raises $900 Million at $9 Billion Valuation
Anysphere, the developer of AI-powered coding tool Cursor, has raised $900 million in a funding round led by Thrive Capital, Andreessen Horowitz, and Accel, valuing the company at approximately $9 billion.
Foreign Portfolio Investors Infuse ₹4,223 Crore in April
Foreign portfolio investors (FPIs) became net buyers in April 2025, injecting ₹4,223 crore into Indian equities. This marks the first net inflow in three months, driven by favorable global cues and robust domestic fundamentals.
Indian Stock Market Rises Amid FII Inflows and Falling Crude Prices
The Indian stock market witnessed a positive trend, with the Sensex rising by 295 points and the Nifty 50 surpassing 24,450. The uptrend is attributed to sustained foreign institutional investor inflows and declining crude oil prices.
