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How this IIM Calcutta programme prepares you for what’s next in supply chain management
Here’s why the Advanced Programme in Supply Chain Management (APSCM) by IIM Calcutta is ideal for professionals navigating the complexity of global and regional supply chains—across sectors such as manufacturing, retail, services, and infrastructure.
Bad loan provisions increased in March quarter amid microfin stress
Loan loss provisioning by banks, especially private sector banks, increased in March 2025 quarter due to higher slippages and asset quality pressure in microfinance loans. NPA provisioning rose sequentially and year-on-year, with 22 banks reporting an increase. Stress in the microfinance portfolio is expected to continue, potentially leading to further slippages in the coming quarters.
Mizuho to acquire Avendus from KKR at $700 million valuation
Mizuho Financial Group is set to acquire KKR-backed Avendus Capital for $700 mn, marking Mizuho's largest investment in India. The deal involves KKR's exit and will give Mizuho up to 70% ownership. Avendus founders, excluding Ranu Vohra, will remain invested and manage the company, continuing its operations across financial services in India, the US, and Singapore.
How will RBI's rate cut impact bank profits and interest rates?
Following the RBI's policy measures, banks are poised to benefit from increased liquidity. This influx allows for strategic deployment into credit or securities, boosting interest income while anticipated deposit rate cuts lower funding costs. Consequently, net interest income and profit margins are expected to improve, with NIM pressure potentially bottoming out by the end of the September quarter.
Iran claims access to cache on Israeli nuclear tech
Iran's Intelligence Minister announced the acquisition of sensitive Israeli documents, describing them as a "treasure trove" that will bolster Iran's offensive capabilities. The documents reportedly contain information on Israel's nuclear facilities, relations with the US and Europe, and defensive capabilities. The unveiling of these documents is expected soon, potentially escalating tensions amid ongoing disputes over Iran's nuclear program.
I-STAR: India’s eyes in the sky? IAF set to get Rs 10,000 crore indigenous spy planes
India's Defence Ministry is set to review a Rs 10,000 crore project. This project aims to acquire three advanced spy planes. These planes will enhance the Indian Air Force's surveillance capabilities. They will provide detailed air-to-ground intelligence. This will enable precision strikes on enemy targets. The ISTAR system will be indigenously developed by DRDO.
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Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Longevity startup Biopeak raises $3 million from Ranjan Pai's Claypond Capital, Accel’s Prashanth Prakash, others
The company has launched its first longevity clinic in Bengaluru and plans to expand to other metros within a year. Biopeak offers a personalised preventive healthcare service, combining diagnostics, AI, and concierge-style care to predict health risks and craft tailored intervention plans.
Bengaluru stampede: Karnataka ADGP Intelligence transferred
Following the tragic stampede outside Chinnaswamy Stadium that resulted in 11 fatalities, ADGP Hemant Nimbalkar has been transferred. This action follows Chief Minister Siddaramaiah's suspension of Bengaluru police commissioner B Dayananda and four other senior officers. The CM acknowledged an intelligence failure related to the incident during RCB's IPL victory celebrations.
India would not have conducted strikes without convincing evidence, Shashi Tharoor replies to question from his journalist son
During a US visit, Congress MP Shashi Tharoor addressed questions about the Pahalgam attack, asserting India possessed convincing evidence before conducting Operation Sindoor. He highlighted Pakistan's history of denying involvement in terror attacks, citing the Mumbai attacks and Osama bin Laden's discovery as examples. Tharoor emphasized the sophisticated nature of the Pahalgam attack and the Resistance Front's link to Lashkar-e-Taiba.
ETtech Explainer: Why WazirX’s recovery plan hit a legal roadblock
Last year, ET reported that WazirX was hit by one of the biggest cyberattacks on an Indian crypto exchange. Hackers made off with more than $230 million worth of investor funds, nearly half of the platform's estimated reserves. Blockchain experts indicated possible involvement of the cybercriminal group Lazarus in the attack.
IT’s growth search takes them to doors of mid-market firms
After a challenging year, India’s IT industry is targeting growth beyond the Fortune Global 2,000 and Fortune 5,000, focusing on an underpenetrated segment: smaller and mid-sized enterprises with annual revenues of $1-5 billion. With large clients slow to deliver revenue, the natural pivot has been towards smaller firms.
Apple and Alibaba's AI rollout in China delayed by Trump's trade war: Report
The tech companies in February announced a deal to support iPhones' AI services offering in China, a move likely to help the US company ease falling smartphone sales in its key market.
Hackers abuse modified Salesforce app to steal data, extort companies, Google says
The hackers use voice calls to trick employees into visiting a purported Salesforce connected app setup page to approve the unauthorized, modified version of the app, created by the hackers to emulate Data Loader. If the employee installs the app, the hackers gain "significant capabilities to access, query, and exfiltrate sensitive information directly from the compromised Salesforce customer environments," the researchers said.
Nvidia overtakes Microsoft to become world’s most valuable company
Nvidia gained 0.9% on Tuesday and has surged over 45% since its April low, boosting its market value to $3.45 trillion, just ahead of Microsoft, the world’s most valuable company. Nvidia shares are still 7.8% below their 52-week high seen in January.
Amazon racing to roll out AI chatbot Cursor amid employee pressure: Report
This is a notable shift for the US tech major, which has traditionally discouraged its employees from using external AI tools since the company provides its own AI coding assistant called Q and an internal AI chatbot named ‘Cedric’. Last year, Cursor's desktop application gained popularity, particularly for its ability to assist with coding using Anthropic’s Claude 3.5 Sonnet model. Its features got a further boost when Microsoft added the model to GitHub Copilot.
From 10,000 to 1,00,000 drones: UK increases drone deliveries to Ukraine days after Operation Spider’s Web
The UK's announcement of ramping up its support to Ukraine comes days after it launched a major offensive against Russia through AI powered drones to attack military aircraft across multiple airbases.
Brookfield Asset Management plans $10 billion data centre for AI in Sweden
BAM said the site in the Swedish city of Strangnas west of Stockholm will create more than 1,000 permanent jobs and around 2,000 jobs during a 10-15 year construction process. "This investment represents one of Brookfield's largest AI investments in Europe and extends the partnership with the Swedish government, its public authorities, academia and businesses in the region," the company said in the statement.
Startups eye insurance pie; Good Glamm’s salary delay
Happy Wednesday! Startups are eyeing a piece of the general insurance market. This and more in today’s ETtech Morning Dispatch.
Good Glamm delays paying salaries again amid cash crunch
Babita Bharati, who worked as a freelance copywriter for Good Glamm’s portfolio brand The Moms Co in March and April, took to LinkedIn to share screenshots alleging she is yet to receive her full payment of Rs 18,100. “They are waiting for investor funding to clear dues. It just shows how bad things are. Every time I emailed someone, they had already left the company—even my point of contact,” she told ET.
FPIs exercise caution in Indian IPO market amidst volatility in 2025
Foreign portfolio investors are showing caution in the Indian primary market. IPO investments are down compared to last year. However, the average IPO size has doubled. FPIs are now selective, focusing on new-age tech companies. Secondary market investments rebounded in May. Overall, FPIs were net sellers in the first five months of 2025, despite recent inflows.
Pakistan takes over chair of UNSC Taliban sanctions committee amid China-backed push in Afghanistan
Pakistan now chairs the UNSC's Taliban sanctions committee. This occurs amid efforts to improve ties with the Taliban, facilitated by China. Russia and Guyana are vice chairs. India, though not on the UNSC, can influence decisions through allies. India will likely work with France, Russia, Denmark, and Algeria to counter Pakistan's moves.
Apple Worldwide Developers Conference WWDC 2025: Date, time, keynote address and how to watch event live
Apple will host its Worldwide Developers Conference from June 9 to 13. Developers can expect early previews of updates to Apple platforms. The event will stream on Apple TV and YouTube. Updates to iOS, macOS, and other products are expected.
'Forest Blizzard' vs 'Fancy Bear': Microsoft, Google, Crowdstrike hope to untangle weird hacker nicknames
Microsoft, CrowdStrike, Google, and Palo Alto Networks are collaborating to create a public glossary of state-sponsored hacking groups, aiming to standardize the confusing array of nicknames currently used. This initiative seeks to improve clarity and accelerate collective defense against cyber threats.
Udaan closes latest funding round at $114 million led by UK’s M&G, Lightspeed
The company said that this fresh capital will be deployed towards strengthening its footprint with a focus on categories such as fast-moving consumer goods (FMCG), and hotel, restaurant and cafes. Udaan said it will also push its private label brands in the staples category.
Double cheer continues for India Inc in Q4 profit growth
Corporate India's net profit surged in the March quarter, driven by reduced non-operating costs, while revenue growth remained moderate. Excluding banking and finance, profit growth improved significantly, with metals and pharmaceuticals outperforming. Analysts expect stronger earnings in FY26, fueled by tax incentives and lower interest rates, despite global uncertainties.
Tata to fuel new ventures engine with ₹30,000 crore more, to hire new digital CEO soon
Tata Sons is set to inject ₹30,000 crore into its emerging ventures like Tata Digital, Tata Electronics, Air India, and its defence and battery units, aiming to fuel their next phase of growth. This investment, approved by the board, is in addition to the $120 billion already committed.
Oil prices to stay around $65/barrel: Hardeep Puri
Oil Minister Hardeep Singh Puri expects oil prices around $65 per barrel. Ample supplies are expected in the market. High spare production capacity is influencing the oil market. The government plans to fill Strategic Petroleum Reserves. Global supplies might increase if sanctions on Iran and Russia are lifted. Iran could become a major supplier again.
Nigeria arrests Pakistani terror operatives abetting Boko Haram group
Nigeria has apprehended four Pakistani nationals accused of training and arming Boko Haram terrorists. The presence of foreign mercenaries within Boko Haram has prompted Nigeria to enhance its counterterrorism efforts, including deploying drones and collaborating with neighboring countries. India has also strengthened its defense and counterterrorism partnership with Nigeria to combat the escalating threat.
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