Government Boosts Public Sector Investments in Mutual Funds

Cognizant, a major US IT firm with a large workforce in India, plans to hire 20,000 fresh graduates in 2025. This ambitious move aims to strengthen the company's talent pool, especially for managed services and AI-driven software development. While the overall employee count remains steady at 336,300, CEO Ravi Kumar emphasized that this hiring initiative is part of a broader strategy to enhance growth and innovation. Cognizant is also focused on improving productivity with AI and has welcomed back 14,000 former employees, with plans for more rehires. The company reported a 7.45% increase in revenue, signaling positive growth.

Airtel Business has launched an innovative solution called ‘Business Name Display’ (BND) to help companies gain customer trust during phone calls. This service allows businesses to show their brand name on the caller ID of the recipient’s phone, making it easier for users to identify genuine calls and avoid spam. Sharat Sinha, Director & CEO of Airtel Business, emphasized that this feature enhances communication by providing clarity and assurance. During trials, BND showed impressive results, boosting customer engagement significantly. This initiative is part of Airtel’s broader effort to tackle spam calls in India, ensuring that genuine calls are recognized.

Bharti Real Estate, under Sunil Mittal’s Bharti Enterprises, is making exciting plans with Universal Studios to open its first theme park in India. This park will take up about 10% of the total area in a new development at Delhi Aerocity, which is set to cover 17 million square feet. The theme park is expected to be completed by mid-2027, promising to boost tourism and local revenue in Delhi. The Delhi government has recently allowed restaurants and bars to operate 24/7 in Aerocity, enhancing its appeal as a major tourist spot.

Prime Focus has announced a massive ₹3,000 crore investment to create a film city in Mumbai, aiming to revolutionize the entertainment industry. This new facility will not only generate up to 2,500 jobs but will also attract tourists and content creators from around the globe. Maharashtra Chief Minister Devendra Fadnavis praised the initiative as part of the state's effort to boost infrastructure and economic growth. The project promises cutting-edge production studios, live entertainment venues, and leisure spaces, positioning Mumbai as a premier destination for media and tourism. This ambitious hub aims to celebrate India's rich cinematic history while showcasing its cultural heritage.

President Trump is taking a bold step to revive Hollywood by imposing a 100% tariff on films produced overseas. He announced this decision in a recent Truth Social post, highlighting a growing concern that tax incentives in countries like the UK and Canada are driving American films away. Trump believes this trend threatens America’s movie industry, labeling it a national security issue. However, how this tariff will be implemented remains unclear, as movies are not traditional goods. The proposed tariffs could severely impact Hollywood, especially if other countries retaliate, given that many big films earn significant revenue abroad.

Indian billionaire Balvinder Singh Sahni, known as ‘Abu Sabah,’ was sentenced to five years in jail for money laundering in Dubai. The court also ordered the confiscation of 150 million AED (₹344 crore) from him and mandated his deportation after serving his sentence. Sahni's son was among 32 individuals convicted in this case. The investigations revealed a complex money laundering scheme involving fake companies and suspicious transactions across various jurisdictions. This case highlights the serious legal repercussions of financial crimes, serving as a warning to others in the business world.

The Reserve Bank of India (RBI) made headlines by adding 57.49 tonnes of gold to its reserves during the fiscal year ending March 2025. This significant addition saw the value of gold holdings rise by an impressive 48.41%. The RBI also repatriated 38.64 tonnes of gold from banks abroad, totaling 88.60 tonnes returned to India in two years. As of March 2025, the RBI held 879.59 metric tonnes of gold, with over half stored domestically. The value of these gold reserves jumped to $78.17 billion, marking a notable increase in the gold's share of total foreign exchange reserves. This trend reflects a growing global demand for gold, as central banks continue to invest heavily in it.

Tensions between India and Pakistan are rising as both nations focus on military readiness following a recent terror attack in Pahalgam. India has downgraded diplomatic ties and initiated extensive military drills, the first of which was conducted on May 7 since 1971. These drills aim to enhance civil defense preparedness, including air raid warnings and evacuation plans. Meanwhile, the Indian Navy is boosting its capabilities with new technology designed for underwater combat. Pakistan has also conducted missile tests in response, emphasizing the ongoing military competition. Both nations remain alert and ready to protect their interests.

Indian fast bowler Jasprit Bumrah is unlikely to be appointed as captain or vice-captain for the upcoming tour to England. Despite leading India to a Test victory against Australia last year, Bumrah's recent injury means he may not play all five Tests. The Board of Control for Cricket in India (BCCI) prefers a consistent captain and vice-captain who can play throughout the series. After recovering from a back injury, Bumrah has returned strong, taking 11 wickets in his last seven matches for the Mumbai Indians. India's England tour kicks off on June 20, concluding on July 31.

The Nifty Pharma Index opened lower at 21,672.85 on Tuesday, marking a significant dip from Monday's close. By the morning, it fell to 21,359.30, a drop of nearly 2%. This decline is linked to news that U.S. President Donald Trump plans to impose tariffs on pharmaceutical imports soon. The tariffs aim to boost domestic drug manufacturing in the U.S., which has caused Indian pharmaceutical companies' share prices, like Lupin and Cipla, to correct sharply by 2-3%. Investors are advised to consult experts before making investment decisions as the market reacts to these developments.

WhatsApp has introduced advanced chat privacy features to help users protect their personal information and conversations. With growing concerns about unauthorized access and spam invites, users can easily enable settings to secure their chats. Key features include preventing chat exports, controlling who can add you to groups, and muting calls from unknown numbers. Additionally, users can send photos or videos that disappear after being viewed once, ensuring sensitive content remains private. These features empower WhatsApp users to take control of their privacy and enjoy a safer messaging experience.

Anant's brief chat with Mukesh Ambani sparked curiosity when he asked, “What does it take to be successful?” Ambani's answer was simple yet powerful: “Focus, delegate, and diversify.” This wisdom resonated with many, especially in the business world, highlighting the importance of clarity in success. Anant shared the interaction online, and it quickly gained attention, receiving over 2,000 likes. Comments praised Ambani's insights, with users calling it “timeless wisdom” and “inspiring.” This exchange not only reflects Ambani’s philosophy but also motivates others to streamline their efforts for better success.

The Central Board of Direct Taxes has released a new action plan for 2025-26, setting a bold target of ₹25.20 lakh crore for the Income Tax department. This plan includes detailed strategies to improve tax collection, such as analyzing sectors with poor tax payments and encouraging taxpayers to reassess their advance tax obligations. The department aims to tackle incorrect claims on deductions that lead to revenue losses and focus on areas with low tax collection. Additionally, it plans to educate taxpayers about filing returns correctly and issue faster refunds to minimize budget impacts.

India is taking a strong stance against financial support for Pakistan from international banks following a recent terror attack in Kashmir. A senior government official stated that India will directly engage with multilateral development banks like the World Bank and the IMF to express concerns about funding that may support terrorism. The government aims to address this issue in upcoming meetings of these banks, especially as the IMF plans to review its financial aid to Pakistan. With significant loans already issued to Pakistan, India is determined to ensure that financial assistance does not contribute to terrorist activities.

Rishabh Pant’s Lucknow Super Giants (LSG) faced a tough 37-run defeat against Punjab Kings, marking their sixth loss this season. Despite this setback, LSG still has a chance to make it to the IPL 2025 playoffs with three matches left to play. It's a crucial moment for the team; they need to win all their remaining games to secure a top-four finish. However, even winning all three might not be enough due to the fierce competition this season. To enhance their chances, LSG may need to achieve big victories to boost their net run rate.

The Anti-Corruption Bureau (ACB) in Rajasthan made a significant arrest on May 4, capturing MLA Jaikrishn Patel of the Bharat Adivasi Party for allegedly accepting a bribe of ₹20 lakh. He was caught 'red-handed' while attempting to drop three questions in the state Assembly related to mines owned by a complainant. Patel had previously contested elections and received considerable support. The complainant managed to convince Patel to meet in Jaipur to deliver the bribe. ACB officials were alerted and arrested Patel just after the cash was handed over. The incident raises serious concerns about corruption in politics.

Tensions between India and Pakistan are escalating, prompting the United Nations Security Council (UNSC) to hold a closed meeting today. This comes after Pakistan requested an emergency session following the recent terror attack in Pahalgam. The meeting will include the five permanent members with veto power, along with ten non-permanent members. Indian External Affairs Minister S. Jaishankar emphasized the need to bring those responsible for the attack to justice. The situation remains delicate, and further actions may be expected soon as discussions continue.

OpenAI is on a winning streak with its ChatGPT, recently surpassing X (formerly Twitter) in monthly page views. In just 28 days, ChatGPT racked up 4.786 billion views, outshining X's 4.028 billion. This remarkable shift began in March when ChatGPT consistently beat X daily. OpenAI's efforts come as rumors swirl about launching its own social media platform aimed at improving content sharing while gaining real-time user data. Meanwhile, X, owned by Elon Musk, has been merging with Musk's AI company, xAI Holdings, to enhance its app with new AI features.