Mukesh Ambani and Gautam Adani, India’s richest men, have a combined net worth of over $200 billion. Their companies together command a market capitalisation of nearly ₹33 lakh crore (approx. $429 billion).

Now, a report based on data from the Reserve Bank of India shows that Ambani and Adani together borrowed more than $1 out of every $5 from foreign lenders.

In total, Indian companies borrowed $38.2 billion from foreign lenders in 2021-22. Of this, Mukesh Ambani’s Reliance Industries, and the Gautam Adani-led companies borrowed $8.25 billion.

Airtel has announced new “all-in-one” plans that bundle an unlimited home broadband internet connection, OTT subscriptions, TV channels and Airtel Black priority care. The newly-announced plans start at Rs 699 and go all the way up to Rs 1,599.

The Rs 699 plan gives you 40 Mbps of unlimited internet, along with a Disney+ Hotstar subscription. You also get an Airtel Xstream Premium single login for 14 OTTS: SonyLIV, ErosNow, Lionsgate Play, Hoichoi, ManoramaMax, Shemaroo, Ultra, HungamaPlay, EPICon, DivoTV, Klikk, Nammaflix, Dollywood and Shorts TV. You also get 350 channels on the Airtel 4K Xstream Box.

JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived, a top company official said.

The leading steelmaker in the country does not expect any "substantial easing" of price of the metal in the domestic market from the current levels, unless the prices of coking coal, a key raw material for the steel manufacturing, moderate in the international market, he said.

The major headwinds are volatile coke price and export duty on steel. However, we expect these to be short-lived. There will be some moderation in exports but value-added steel exports will have less impact. Till now, we remain optimistic and the capex plan of Rs 20,000 crore in the current fiscal remains intact, JSW Steel Joint Managing Director and Group CFO Seshagiri Rao told PTI in a telephonic interview.

The global recovery is expected to suffer a significant loss of momentum in 2022, the Reserve Bank of India's annual report showed. The risks are large and to the downside from the escalation in the Russia-Ukraine war leading to shortages of raw materials as global supply chains continue to remain distorted, even before they could recover from the pandemic-led distortion, said the RBI.

The central government, in a bid to provide some relief to the common people, have reduced the excise duty on petrol and diesel prices. The prices of petrol and diesel had been soaring before the Centre stepped in last week, and had given a subsequent rise in the overall inflation in the country. At the time of announcing the reduction, finance minister Nirmala Sitharaman had urged states to also reduce their VAT charges on petrol and diesel to provide further relief to citizens.

“I wish to exhort all state governments, especially the states where the reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” she had tweeted on May 21, Saturday.