On September 26, HDFC Bank Limited declared that the Dubai Financial Services Authority (DFSA) had formally instructed its Dubai International Financial Centre (DIFC) office to restrict the onboarding of new customers.
The DIFC branch is prohibited from approaching or doing business with new clients who have not finished the onboarding procedure by that date, according to the Decision Notice of September 25, 2025. The limitations apply to a variety of financial services operations, such as custody-related services, investment transaction structuring, credit arrangement or advice, and financial product advice.
DIFC Prohibited From Engaging Financial Promotions
DIFC is not allowed to onboard new customers or run financial promotions. Clients who have previously received financial services but were not properly onboarded may still be served, and current clients may continue to receive services.
Until the DFSA publishes a written revision or repeal, the directive, which went into force on September 26, 2025, will stay in effect. Concerns about improperly onboarded financial services for clients and problems with the branch’s onboarding procedures were the core reasons behind the move, as mentioned by the DFSA.
Response from HDFC
No major financial repercussions are anticipated because HDFC Bank indicated that the DIFC Branch business is not relevant to its overall operations or financial situation. 1,489 customers, including joint holders, had been onboarded to the branch as of September 23, 2025.
The bank declared that it has already taken the required actions to adhere to the instructions and that it is dedicated to assisting the DFSA in its current investigation as well as to promptly resolving and addressing the regulator’s concerns.
What Forced DFSA to Take Stringent Action Against HDFC?
The two-year-old scandal over the purported mis-selling of high-risk Credit Suisse additional tier-1 (AT1) bonds serves as the context for the regulatory action. Through its UAE operations, which included account booking with its Bahrain branch, relationship management by employees at its Dubai representative office, and advising from DIFC authorities, the bank was accused by investors of marketing the products.
The effective onboarding of clients in the DIFC, a jurisdiction with distinct financial regulations and a more stringent environment for “professional clients”, was investigated.
When the AT1 bonds were written down in 2023 amid Credit Suisse’s collapse, a number of non-resident Indian investors suffered significant losses and were subject to margin calls on leveraged positions.
Quick
Shots
•The restriction took effect on September
26, 2025, as per a Decision Notice issued on September 25, 2025.
•DIFC branch cannot onboard new
customers, approach potential clients, or run financial promotions.
•Current customers will continue
receiving services; improperly onboarded clients can still be served.
•Regulatory action linked to concerns
over improper onboarding procedures and mis-selling of high-risk Credit
Suisse AT1 bonds.
The Tata Group’s premier financial services company, Tata Capital, moved one step closer to its massive initial public offering (IPO) on September 26 when it submitted its red herring prospectus to the bourses and Sebi.
According to an exchange disclosure, the offer includes a new issue of up to 210,000,000 equity shares with a face value of INR 10 apiece as well as an offer for sale of up to 265,824,280 equity shares by specific company selling shareholders. Additionally, the disclosure stated that the offer or bid will open on October 6, 2025, and finish on October 8, 2025. October 3, 2025, will be the day of the anchor investor bidding.
Tata Group Aiming for Post-Money Equity Valuation of $16.5 Bn
Media reports also stated that the combined IPO size (new issue of shares plus OFS by Tata Sons and IFC, or International Finance Corporation) is estimated to be around $1.85 billion, or INR 16,400 crore, with the Tata Group aiming for a post-money equity valuation of approximately $16.5 billion for the big-bang IPO.
According to the source, insurance behemoth LIC is probably going to place a large wager on this matter, with the anchor segment probably taking place on October 3 and the issue preparing to launch between October 6 and October 8.
The vast majority of Tata Capital is owned by Tata Sons. According to the draft paperwork, the remaining interest is held by external investors IFC and other group firms, including TMF Holdings Ltd, Tata Investment Corporation, Tata Motors, Tata Chemicals, Tata Power, and others.
RBI Norm that Needs to be Followed by Tata Capital
Upper-layer NBFCs like Tata Capital are required by Reserve Bank regulations to list on domestic bourses by September 30. However, the company just obtained a small extension from the banking regulator, according to sources.
Moneycontrol was the first to announce on April 5 that Tata Capital has submitted draft documents for an IPO of over INR 15,000 crore to SEBI under the private pre-filing process. Numerous media outlets also stated earlier on March 21 that the top NBCF had hired ten investment banks to serve as consultants for the massive listing and was probably going to use the confident pre-filing approach.
According to the reports, the following companies were involved: Kotak Mahindra Capital, Citi, Axis Capital, JP Morgan, HSBC Securities, ICICI Securities, IIFL Capital, BNP Paribas, SBI Capital, and HDFC Bank.
Quick
Shots
•Tata Group aims for a post-money
equity valuation of ~$16.5 billion.
•New issue of 210 million shares and
OFS of 265.82 million shares by Tata Sons and IFC.
•Life Insurance Corporation expected
to be a major anchor investor.
•Majority held by Tata Sons, with
stakes from IFC and group companies like Tata Motors, Tata Power, Tata Chemicals,
etc.
Entrepreneur and Shark Tank India investor Anupam Mittal has shared the emotional and professional challenges of giving up his US green card and returning to India. His LinkedIn post has drawn attention to the risks and rewards of leaving a secure career abroad to pursue entrepreneurship at home.
A Difficult Decision
Mittal described the process as “hard and emotional.” He revealed that he visited the US embassy twice to surrender his green card. On both occasions, embassy officers advised him against it. “Nobody your age does this… you should reconsider,” he recalled.
He added that it took five years and legal pressure before he finally surrendered the card. Mittal also highlighted the financial implications, noting that giving up a US green card triggers an exit tax of approximately 30% on global wealth, not just income. “Thankfully, at the time, I had no wealth to give. But cutting that string is what helped create it,” he said.
Choosing Uncertainty Over Security
Reflecting on his career, Mittal admitted that staying in the US could have led to a safe but limited path. “Had I kept my safety net, I’d most likely be a VP of Product in the Valley. Respectable but replaceable,” he said.
Returning to India, he embraced uncertainty. “By coming back – and burning my Plan B — I got chaos, hunger & the freedom to build. My companies, 300+ startups, Shark Tank India, and of course, myself,” he wrote. He encouraged professionals to consider returning to India despite challenges. “India is as messy as ever, but that’s where growth lies,” he added.
Mittal’s experience reflects a growing trend of reverse migration among Indian professionals. Many are returning home to explore entrepreneurial opportunities and contribute to the local ecosystem. His story highlights the personal sacrifices and risks involved, while also showing how bold choices can shape long-term growth and success.
In our sixth story, we look at Katyayani, the fearless warrior goddess who defeated Mahishasura. As the sixth of the Navadurgas celebrated during Navratri, she symbolises courage, determination, and resilience.
Much like Katyayani, women entrepreneurs often face tough challenges and moments of uncertainty. Yet, it’s their resilience and determination that keep them moving forward.
We asked some inspiring women leaders how these qualities have shaped their journey and guided their leadership. Here’s what they shared.
Akanksha Hazari, CEO & Founder of LoveLocal
Katyayani’s determination and resilience have been central to my leadership at LoveLocal. Building a retailer-first, community-driven model in a market dominated by quick commerce required persistence, bold decision-making, and the courage to navigate uncertainties. These qualities have helped me stay focused on our long-term vision, turn challenges into opportunities, and lead the team with conviction, even when the path forward wasn’t easy.
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Key takeaway: Resilience helps transform challenges into opportunities while keeping the bigger vision alive.
Vijeta Soni, Co-Founder & CEO, Sciative Solutions
For me, determination and resilience are best reflected in our approach to solving complex business problems. At Sciative, we’ve always believed in falling in love with problems, not just chasing solutions. Travel, retail, and hospitality are full of unending challenges, shifting demand, unpredictable consumer behaviour, and fierce price wars. But we see complexity as fuel. Resilience means staying curious, not discouraged. Determination means refining, testing, and pushing our AI models until they truly work for our clients.
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Key takeaway: Embrace complexity with curiosity. It is resilience that fuels innovation and growth.
Katyayani’s grit and perseverance are traits I have clung to closely throughout my entrepreneurial career. The incense business is traditionally oriented, and promoting environment-friendly, low-smoke variants was challenging. There were moments when people dismissed the idea as niche, but perseverance ensured that I kept innovating in natural incense, essential oils, and biodegradable packaging. Adversities are inevitable, but through resilience you can survive, and through determination you can succeed.
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Key takeaway: Perseverance drives innovation even in traditionally resistant industries.
Tejasvi Madan, Founder & CEO, Beyond Bound
There have been moments when giving up felt tempting, when suppliers pulled out, when designs failed, when the uncertainty seemed too heavy. But Katyayani’s determination reminded me of why I started. Knowing my “why” has kept me steady. It’s this resilience, this refusal to let go of the vision, that has allowed Beyond Bound to keep moving forward even in stormy times.
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Key takeaway: Staying rooted in your “why” helps weather the toughest storms.
Dishi Somani, Founder, DishiS Designer Jewellery
Determination and resilience have defined my entrepreneurial journey. There were times of doubt, such as market decline or changing customer demands, when the easiest thing was to quit. But resilience pushed me to innovate instead of pulling back. Persistence enabled me to stick to the vision of the brand while finding new ways to grow.
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Key takeaway: Innovation often comes from moments when giving up feels easiest.
Perseverance and resilience have been our greatest supporters. In an industry where trends change within hours, it can feel overwhelming. But staying focused on our vision of “luxury made accessible” has kept us on track. Resilience matters when things go sideways, whether supply chain issues or market shifts. I’ve learnt that challenges are not setbacks but redirections. Each obstacle has made Shryoan stronger.
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Key takeaway: Challenges are not roadblocks, they are redirections towards stronger growth.
Ambika Bhaik, CEO, Yellow Fertility
Resilience is about being present, despite the odds being against you. I have navigated through economic recessions, shifting markets, and unforeseen crises. Setbacks are temporary; they are stepping stones. It’s not about how quickly you change, but how promptly you learn, rebalance, and move forward without losing your vision.
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Key takeaway: Resilience is about learning quickly and moving forward without losing sight of your vision.
Priyanka Jain, Co-Founder & Director of Marketing, Snow World Entertainment
What has kept us going is the ability to stay resilient and calm under pressure, making decisions that are long-term, not reactive. Every hurdle has been a new opportunity. Leading Snow World Entertainment, especially while scaling or launching concepts like world-class hospitality blended with gaming and technology, demanded courage and determination. Resilience and focus helped us shape innovative steps for the industry.
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Key takeaway: Long-term focus and resilience turn hurdles into opportunities for innovation.
Samiha Jha, Founder & Director, Sammyukk
Having founded Sammyukk wasn’t smooth sailing, there were moments of uncertainty, setbacks, and doubt. But resilience is about showing up even when the way ahead is not clear. I’ve learnt to lead with clarity, stay grounded in purpose, and adapt without losing direction. Challenges aren’t roadblocks; they are reminders to rise stronger.
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Key takeaway: Resilience is showing up everyday, even when the path ahead is unclear.
Gopika B Raj, Co-Founder & CCO, MyDesignation
Swaroop (Co-Founder & CEO) and I often describe ourselves as yin and yang—his calm, grounded nature perfectly balances my restless drive. This balance has been invaluable in navigating challenges. While I push boundaries with bold ideas, his steadiness ensures we remain grounded and resilient under pressure. Together, this dynamic hasn’t just shaped my leadership but has been the foundation of MyDesignation itself.
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Key takeaway: Balance in leadership creates resilience and helps businesses thrive.
Here’s your daily roundup of funding announcements, corporate developments, and key business news shaping the Indian and global markets on 26th September 2025. Highlights include major funding rounds for Curefoods, Vedantu, Navo, GaadiMech, and Recove, alongside significant corporate updates from Amazon, Starbucks, and Accenture. Track the latest trends, investment moves, and strategic decisions impacting industries from cloud kitchens and EdTech to recycling and global enterprises.
Daily Indian Funding Roundup – 26th September 2025
Curefoods raises INR 160 Cr in pre-IPO placement from Binny Bansal’s 3State Ventures
Curefoods, a cloud kitchen operator, has raised INR 160 crore in a pre-IPO placement led by Binny Bansal’s 3State Ventures. The funding will be used to expand its cloud kitchen network across India and strengthen technology-enabled operations to improve delivery efficiency and menu optimization.
Vedantu raises $11 Mn from internal investors in ongoing round
EdTech startup Vedantu has secured $11 million from its internal investors in an ongoing funding round. The investment will help Vedantu enhance its digital learning platform, expand content offerings, and scale personalized tutoring for students across India.
Navo raises INR 8 crore in a seed round led by IndiaQuotient
AI-enabled digital wholesale platform Navo has raised INR 8 crore in a seed round led by IndiaQuotient. The startup aims to digitize B2B wholesale operations, offering AI-powered tools for order management, pricing, and supply chain optimization for small and medium businesses.
GaadiMech raises pre-seed round led by AJVC
Car servicing startup GaadiMech has raised an undisclosed pre-seed round led by AJVC. The platform provides technology-driven car maintenance services, aiming to simplify vehicle servicing with on-demand bookings, transparent pricing, and quality service networks.
Recove, a B2B startup focused on plastics recycling, has raised INR 53 crore in its first external fundraise led by US-based Momentum Capital along with prominent co-investors. The funding will accelerate expansion across India and build pre-processing infrastructure to deliver reliable, tech-driven recycling solutions for businesses.
Key Business News for 26th September 2025
Amazon to Pay $2.5 Billion for Tricking Customers Over Prime Membership
Amazon has agreed to a historic $2.5 billion settlement with the U.S. Federal Trade Commission (FTC) over allegations that it made it difficult for customers to cancel Prime memberships and unintentionally enrolled users. The settlement includes a $1 billion fine and $1.5 billion in refunds to affected customers who signed up between June 23, 2019, and June 23, 2025. Amazon did not admit wrongdoing but chose to settle to avoid prolonged litigation. The company is now required to implement clearer sign-up processes and an easier cancellation method.
Starbucks to Shut Hundreds of Stores and Cut 900 Jobs
Starbucks announced plans to close hundreds of stores across the U.S., Canada, and Europe, affecting approximately 900 non-retail employees. This move is part of a $1 billion turnaround strategy aimed at improving profitability. The closures are expected to reduce the number of outlets in North America from 18,734 to around 18,300 by the end of the fiscal year. The company cited financial instability and the need to create a better customer experience as reasons for the closures.
Accenture Plans Major Restructuring Amid Slower Growth
Accenture is undergoing a significant restructuring, which includes laying off 7,000 employees, divesting two non-core acquisitions, and booking $865 million in charges for asset impairments and severance costs. The company anticipates a revenue growth of only 2–5% for fiscal year 2026, down from 7% the previous year. These measures are part of Accenture’s business optimization program to adapt to slower growth and declining customer demand, particularly in the U.S. federal sector.
One of the biggest layoffs in Germany’s automotive industry, Bosch plans to eliminate 13,000 positions as the sector struggles with low demand, overcapacity, and growing competition from China. The largest auto supplier in the world announced on 25 September that all of the layoffs would be made by its own employees, which accounts for roughly 10% of its workforce in Germany and 3% worldwide.
According to Le Monde, the layoffs are intended to save €2.5 billion a year in its auto parts division. Bosch, a manufacturer of sensors, brakes, and steering systems, stated that the cuts were required to match production to changing demand around the world.
Bosch’s head of industrial relations, Stefan Grosch, informed reporters that the company’s products are becoming much more popular outside of Europe. The brand must align with the locations of its customers and marketplaces.
Bosh’s Challenging Times in Europe
The action highlights the pressure on the biggest economy in Europe as its main auto industry battles the switch to electric vehicles. Le Monde claims that slow EV sales, overcapacity in conventional components, and a growing price war in China that has reduced supplier profits have all hurt Germany’s auto industry.
Bosch’s head of electrified motion, Marco Zehe, acknowledged that the company had misjudged the rate of change. He claimed that “electromobility has not taken off as quickly as forecast.” “That indicates that we have a lot of excess capacity, especially in Germany and Europe.” Since last year, Bosch has already announced 9,000 job layoffs.
Schaeffler and Continental, among other suppliers, have also reduced their workforce by thousands of workers. Volkswagen has stated that it plans to reduce its staff in Germany significantly, while Porsche slowed its deployment of electrified vehicles last week due to insufficient demand.
Bosh Struggling to Deal with Europe’s Fading Economy
As a result of the transition, Bosch’s German operations, which were previously a cornerstone of global supply, are now disproportionately susceptible to increased cost bases and weakening European demand. “We stand by it as a location and stand by Europe and are doing all we can to continuously improve our competitiveness by our own efforts,” Grosch said, emphasising that Germany remained “central” to the company’s future.
Representatives of the workforce pledged to oppose the reorganisation. The Bosch Mobility Works Council’s chairman, Frank Sell, called the layoffs “historically unprecedented”. He charged the group with betraying the confidence of the workers who had contributed to the company’s success. The union is requesting guarantees that Bosch won’t shut down entire German facilities, a worry that has stoked dissatisfaction among employees in industrial hotspots like Baden-Württemberg.
With hundreds of thousands of workers, Germany’s automobile industry has been a major contributor to its export power. However, suppliers and manufacturers alike are being forced to reconsider their footprints due to the twin challenges of electrification and global competition. According to Bosch’s announcement, the adjustment will be more severe than most people had expected.
Local economies that are already struggling from past layoffs will be affected by the employment reduction. The layoffs, according to analysts, highlight a structural change: German auto suppliers run the risk of losing market share as automakers prioritise regional sourcing and as Asian competitors take control of EV supply chains.
Quick
Shots
•Layoffs aim to save €2.5 billion
annually in the auto parts division amid falling demand and overcapacity.
•Bosch says its products are gaining
traction outside Europe and must realign production accordingly.
•Slow electric vehicle adoption,
excess capacity, and a China-led price war pressure German auto suppliers.
•Other giants like Schaeffler,
Continental, Volkswagen, and Porsche are also scaling back jobs and EV plans.
Beginning a career as an insurance agent brings enthusiasm, but it also presents many challenges. Many people enter this career with the hope of growing financially and achieving independence. However, research shows that most new agents do not make it past their first year. Why is that?
The reason is usually not due to a talent or capability issue, but rather a lack of support, guidance, a lack of a plan, and a failure to avoid simple mistakes. Continue reading to know the pitfalls and how to set the stage for success.
Common Pitfalls That New Insurance Agents Face
Most people enter the insurance field with excitement and high hopes, but they often realise quickly that the reality of the profession is not what they expected. If new agents can identify common pitfalls early, they can grow and avoid them. The difficulties are:
Expecting quick success: Many new agents come into the profession expecting immediate success. Many don’t understand that insurance is all about trust, and trust does take time to build. Think of every interaction as a new opportunity; each conversation has the potential to open a door to success.
Time Management: Many new agents do not focus on valuable interactions when working with potential clients, and instead spend a lot of time on non-beneficial things. Learning to prioritise is critical for you to have any hope of progressing.
Not Knowing How To Handle Rejection: Rejection is a regular part of the sales process in an insurance career, yet many cannot detach from the feeling of rejection. Many feel rejected instead of being able to separate themselves from the rejection.
There is no Training or Mentorship: Missing training and mentorship may leave a new agent feeling lost when trying to understand coverages, policies and customer psychology. An ideal mentor can build confidence in someone who wants to become an agent, guiding them to the next level of success faster.
Mistakes in Understanding Policy Terms and Benefits
New agents often fail not because they lack effort, but because they are confused about the policies they sell. Understanding the terms and advantages is essential to establish trust and helping clients make informed decisions. Here are common mistakes we see in new agents:
Superficial Knowledge: Some agents have superficial knowledge about the plan and memorise just the key benefits of the plan. A common area of confusion arises when agents are unsure about how pre-existing conditions are covered, leaving clients unnecessarily confused.
Inability to Answer Client Questions: When clients request information about riders or benefits or any other information, the hesitation of agents will lower the confidence. Just as clients expect an agent to be a trusted and confident advisor.
Neglecting to Read the Fine Print: Ignoring restrictions and hidden terms typically causes miscommunication. Even slight errors in conveying these exclusions can result in disputes and loss of credibility.
Failure to Pursue Additional Education: Agents who do not pursue further training and attend courses, or fail to follow mentor recommendations, tend to miss the opportunity. The constant learning process enables agents to become familiar with products and remain competitive in the market.
Why Do New Agents Fail at Building Lasting Client Relationships?
Relationships matter in the insurance business; it’s more than a sale. Many new agents fail when they only look for a sale and do not put the time into developing a long-term, trusting relationship. Proper follow-up and genuine care have a significant impact on creating a long-term income stream for many clients. Here’s how they make errors:
Only Thinking About the First Sale: New agents often rush to get their first policy, and after that, they quickly forget that insurance is a long-term relationship. Keeping your clients engaged and loyal will be challenging without ongoing support.
Failure to Follow-Up Consistently: If you meet with a client and fail to follow up, they can easily feel like you are no longer engaged after buying a policy. That means decreased chances of renewals and less likelihood of providing you with referrals for valuable contacts.
Missing Opportunities for Guidance: Clients often need assistance progressing through a claims process, updating a policy, or just advice when their needs change. Ignoring even a few interactions with your client can weaken the relationship and reduce the value they receive from working with you.
Neglecting Personal Connection: Small acts like birthday texts, check-in phone calls, or updates on whatever they’re into add more value to the relationship. Clients remember the care and consistency, not just the sale.
Trust with Communication: Trust creates loyalty. Trust is built significantly by communication and regularity. Agents who appreciate the relationship can gain confidence through loyalty, referrals, and sustainable growth.
How Smart Planning Can Prevent Early Failures?
Insurance does not succeed by chance, but it takes planning. Most new agents do not succeed because they lack structure and direction. Developing a clear plan during the initial years will help agents establish a solid foundation that supports future expansion. Here are some tips for thoughtful planning:
Set Small Goals: Agents should not focus on getting as many policies as quickly as possible. They should develop small, achievable goals over time. Agents may have weekly milestones and a goal to achieve, allowing them to follow through and remain motivated.
Run a Strategic Market Segment: Attempting to sell to everyone will be a waste of time and energy. To better comprehend the needs of a particular group (young families, professionals, retirees), it will be simpler to focus on a specific group and provide specialised solutions.
Turn Challenges into Opportunities: Agents will not immediately generate any revenue; therefore, they will have to plan their expenditures and take care of their savings. Thoughtful financial planning enables a comfortable and focused strategy for growth with less stress.
Personal and Professional Development: Workshops, training sessions, and finding a mentor will help keep agents ready and engaged. The development of skills ensures preparedness to meet client demands and market trends.
Embrace Victories as a Challenge: With a good plan, you will undoubtedly face some small challenges. A scheme allows the agents to remain loyal and faithful to the adventure.
Steps to Build a Successful Career As An Insurance Agent
Achieving success as an agent requires a structured approach that combines learning, discipline, and persistence, ultimately leading to a rewarding outcome. The steps below help make the first year of the blueprint for a career:
Get a Good Training: Participate in all training, workshops, and online programs you can offer. Knowledge is power, and it builds confidence and smoother agent and client interactions.
Learn Every Product: Review policies in detail, including all benefits and exclusions. Distilling something complex into simple English helps build the customer’s trust and faith.
Create a Consistent Daily Schedule: Use the same hours daily for prospecting, meetings, and follow-ups. A structured workday will lead to higher productivity.
Respond to Rejections Positively: Rejections are just part of the job. If you consider rejections as feedback rather than taking them personally, you can adjust your approach, improve your pitch and keep it moving confidently.
Focus on Relationships: When you follow up with clients, you can provide helpful insights about their coverage and suggest applicable insurance, like life insurance options, that may suit their needs as circumstances change.
Set Realistic Goals: Break down larger goals into smaller and feasible goals. This will help keep you motivated, ensure consistent progress, and allow you to measure success more effectively.
Utilise Technology: Implement CRM systems, email, and WhatsApp to systematise data on clients, simplify communication, and follow up on leads effectively. Technology will help maintain consistency and improve overall productivity.
Have Faith in the Process: Building an insurance career takes time, hard work and perseverance. Being consistent and focused gives you the ground to long-term success and better client relationships.
The early stages of an insurance agent’s career often present significant challenges, but it is also the most critical time to build your foundation. Agents who continue to learn, plan well, and develop a solid relationship with clients typically turn these early struggles into long-term success. You can sidestep many of these pitfalls by using the right strategies. Good habits and clarity will transform your career.
This article has been contributed by Dr Malini Saba, founder of the Saba Group and Saba Family Foundation
Navratri isn’t just a festival we wait for because of the music, lights, colours and devotion; it’s messy, alive and joyful in its unpredictability, and it carries something deeper. Those nine nights are really about the strength of the feminine – how it bends, survives, and still finds a way to transform. Every form of the goddess we worship has a story, a meaning: courage, energy, wisdom, and compassion. It’s like looking at the many sides of what power really is.
For the women building businesses, it’s the same thing. The journey is rarely straight. Some days it’s about standing firm, other days it’s about holding back and being wise, and sometimes it’s about starting again with fresh energy. That’s what Navratri teaches too. It’s not only devotion or celebration; it’s also a reminder that change, whether in life or in work, always begins with that inner strength. Not the big speeches or grand gestures, but the small, steady choices we make when nothing is perfect.
Durga in the Everyday
Durga looks fierce in images, riding a lion. But in real life, courage doesn’t look like that. It looks like answering a client call when the plan has fallen apart. It looks like sitting with a tired team at 11 pm and saying, “We’ll fix this together.” It looks like trying again the next morning. Courage isn’t in drama; it’s in persistence.
Saraswati’s Quiet Reminder
We can learn everything and still miss the point if we don’t pause. Saraswati is that reminder. Knowledge helps, but wisdom comes when we notice what others don’t: the hesitation in someone’s voice, the frustration in someone’s silence. The pause before acting often saves us from mistakes.
Success is meaningless if we keep it to ourselves. Lakshmi reminds us of that. We’ve all seen growth that stayed locked with one person; it dies quickly. But when we mentor, share, and open doors for others, our own work gains roots. Communities grow when we grow together. Growth confined to oneself is fleeting.
Women-led ventures often embrace collaboration instinctively: mentoring, supporting peers, and building networks. A skill shared, a platform extended, a door opened – these small acts ripple outward, creating lasting influence. Communities thrive when growth spreads beyond the individual. Influence multiplies relationally, not in isolation.
Kali and the Need to Be Bold
There are days when you know deep down that playing safe won’t get you anywhere. You sit in a meeting, and everyone is circling the same old ideas, afraid to speak the thing that actually needs to be said. You look at the numbers and realise the system you’ve been working in is outdated. Markets stall, teams hesitate, and you feel the weight of “this is how it’s always been.” That’s when Kali comes alive – not as a figure from a book, but as a fire in your own chest.
Kali doesn’t whisper. She disrupts. She tells you it’s time to break something before it breaks you. And yes, it feels risky. Your stomach knots, your palms sweat, and you wonder if you’re about to wreck everything. But without that boldness, nothing shifts. No industry ever changed because someone politely waited for permission. Sometimes leadership is exactly that – doing the thing that feels terrifying because the alternative is stagnation.
Boldness is one thing. But sometimes courage looks quieter. It looks like refusing to move when everything is pushing you to.
In negotiations, when you can feel the scale tipping unfairly, it takes strength to say, “No, this isn’t acceptable,” instead of compromising to close the deal. When someone on your team is being sidelined or their voice is being dismissed, it takes courage to stop the meeting and call it out. When bending would make life easier but cost you your integrity – that’s when Katyayani shows up.
Her energy is not flashy. It’s in the spine, not the spotlight. Leadership is often like that. It’s not about rushing forward but about planting your feet and saying, ‘This line, we don’t cross.’
Not everything can be fixed with bold moves. Some parts of leadership feel endless. You wake up, and it feels like you’ve been walking the same road for months with no finish line in sight. That’s when Kaalratri teaches endurance – the grit to keep putting one step in front of the other even when it’s dark.
Mahagauri brings calmness into the mix. She’s the reminder that not every problem needs an instant reaction. Sometimes the smartest thing a leader can do is pause, breathe, and wait until the dust settles. And then there’s Brahmacharini, who teaches patience. The daily grind no one claps for – the emails, the small follow-ups, the quiet consistency – those are what build the foundations for everything else.
None of these traits are glamorous. They won’t get applause on stage. But they hold leaders together when quick wins fade.
Community and Rhythm
Navratri isn’t a solo performance. Anyone who has danced knows that the circle is what gives it meaning. Each step isn’t just yours; it feeds into the rhythm of others.
Business works the same way. You can be brilliant, but if you’re dancing alone, the music doesn’t last. Teams, mentors, collaborators – even competitors – all create the rhythm that sustains us. Going fast on your own burns you out. Going together keeps you moving longer.
Authenticity and Leadership
Every goddess has her own way of showing strength. None tries to copy another. That’s a lesson worth holding close.
Too often, leaders feel the pressure to imitate – talk like the popular CEO, adopt the style of whoever is trending. But authenticity is what stays. People can sense when you are playing a role versus when you’re being real. Real leadership doesn’t mean being perfect. It means being trustworthy. Sometimes that’s intuition. Sometimes empathy. Sometimes decisiveness. Sometimes creativity. But it’s always yours.
Light Wins
Every Navratri ends with light pushing back darkness. The darkness doesn’t vanish – it’s part of life – but light still wins.
That’s what persistence is. You keep showing up, even when things fall apart. You focus on purpose over control. You use knowledge not as decoration but as action. And you measure success not just in revenue but in how many people grow with you, how many relationships last, and how much resilience you’ve built in yourself and your team.
That’s what it means for light to win.
Reflection
What most people forget about Navratri is the quiet. The pauses. The stillness between drums and songs. That’s where reflection lives.
Leadership needs the same thing. Without space to stop, think, and realign, we start reacting instead of deciding. The truth is, strength doesn’t arrive in big heroic gestures. It grows through small acts of recovery – when a campaign fails and you regroup, when a client walks away and you rebuild, when your team shifts and you find your balance again. Resilience is ordinary persistence, repeated until it becomes momentum.
Lessons from Rituals
The Cycle of Sustainable Leadership
Even the small rituals matter. Fasting builds discipline. Music restores joy. Dance restores energy. These are not “extras”; they are survival. Leadership also needs that rhythm: strategy, yes, but also rest, creativity, and recovery.
Women leaders often bring this instinctively. They know a business that only runs will collapse, but a business that breathes will last.
The Essence
Navratri is not only about goddesses. It is about us. It shows that strength wears many faces – boldness, patience, calmness, fairness, and empathy. When women entrepreneurs bring all of this into their work, they don’t just build companies. They build communities. They shape industries not only with profit but also with purpose.
Leadership, like Navratri, is messy. It flickers and steadies. It bends and rises again. The lamps of Navratri aren’t perfect – they shake in the wind, sometimes dim, sometimes blaze – but they never go out. Neither do we. With persistence, reflection, and shared rhythm, we keep the flame alive.
This article has been contributed byRahul Rajendran, Vice President, WSB Real Estate Partners
India’s premium and luxury housing has experienced a remarkable surge in the past few years. According to a recent industry report, nearly 50 ultra luxury homes with a ticket size of INR 100cr+ have been sold in the past 3 years across Mumbai and Delhi NCR markets, amounting up to a cumulative sale value of ~INR 7,500cr. About half of these transactions – ~INR 3,650cr – occurred in 2024 itself. As 2025 began, the momentum continued, with 4 ultra luxury sales amounting to a total sale value of ~INR 850cr occurring within just the first two months.
India’s real estate market has been predominantly driven by mid-income and affordable housing, where developers focused on high volumes at lower ticket prices, and luxury homes were achievable to a narrow segment of buyers. Today, the picture is quite different. The question now, though, is not whether this segment will collapse – most analysts agree it will not – but more so whether this pace of growth is sustainable.
The Uneven Geography of Luxury
Luxury in India is very city-specific and remains concentrated in certain cities and neighbourhoods. Take Mumbai, where supply is tight, and demand from new-age wealth and generational businesses is insatiable. According to another recent industry report, in H1 2025, homes priced INR 10cr and above accounted for over 690 transactions ~INR14,750cr, across primary and resale markets. Yet when compared against the overall 47,035 residential sales in H1 2025, the luxury segment is just a sliver of the total transactions.
Delhi NCR tells a similar story, where luxury homes in areas such as Golf Course Road and Central Delhi see average ticket sizes in the INR 6–12cr range, reflecting robust demand from business families and HNIs. Meanwhile, in Bengaluru, where luxury has traditionally been a thinner market, saw sales in this segment rise ~59% in FY 2024-25 to merely INR 1000cr in value, while the city recorded a total of 26,599 residential units sold in H1 2025 across all segments.
Beyond these metros, other cities are gradually entering the map, though the definition of luxury differs highly from the metros. Hyderabad has witnessed luxury launches above INR 4–6cr, while Chennai’s elite zones have selective demand for homes priced around INR 5–7cr. Other cities such as Pune and Ahmedabad are still nascent in the segment, where “premium” is defined at lower thresholds – typically INR 3–5cr – and often targeted at NRIs or established business families.
This uneven distribution reflects the regional appetite for luxury living and displays that while luxury sales have gained momentum and captured the media attention, the segment remains a very small part of India’s housing market. The mid-income and affordable housing segment still contributes to a significant portion of the overall market demand and supply.
Equity Market Wealth Creation: India’s market capitalisation grew from around USD 1.5 trillion in 2014 to over USD 4.3 trillion by 2025. In addition to that, India saw a massive influx of Venture Capital funding between 2020-2023, totalling nearly USD 88 billion. This liquidity hallowed many startups to unlock substantial gains, which – until the INR 10cr cap on reinvestments came into effect in 2024 – could be allocated without limit into real estate, increasing the demand for premium, luxurious housing.
NRI Inflow: Remittances increased nearly 14% y-o-y, reaching a record USD 135.5 billion in FY 2025. A significant portion has flowed into the real estate market, with NRI investments in the real estate industry estimated at USD 13 billion in 2023, and USD 3.1 billion in just the first six months of 2024. Developers such as DLF report over 20% of their FY 2024 sales were from NRIs.
Growing HNI base: India had 85,698 individuals with assets of more than USD 10 million in 2024, a 6% rise from 2023. This number is projected to reach nearly 94,000 by 2028, making it one of the fastest ultra-wealthy expansions in the world.
Low interest rates: Between 2020 and 2022, record-low interest rates improved affordability. Cheaper borrowing costs, easy access to credit, and abundant liquidity further fanned the demand for premium housing.
Changing aspirations: The pandemic also reshaped buyers’ preferences. Buyers focused more on larger layouts, private terraces, wellness-oriented amenities, and branded residences, displaying a shift toward lifestyle-driven choices.
Balancing Momentum and Market Realities
Despite the sharp growth, questions are being raised about how long the momentum can last. Demand is still limited to a small group of HNIs and ultra-HNIs, many of whom already own more than one luxury home. For these individuals, buying is often a lifestyle choice rather than a real need. On top of that, policy changes are starting to weigh on sentiment. The new INR 10 crore cap on capital gains reinvestment, which came into effect in 2024, has reduced the tax benefits on high-value properties, slowing down some of the earlier rush in this space.
Secondly, supply is catching up. In H1 2025 Quarter to sell (QTS) in segments priced above INR 10cr continue to see longer sales cycles, with QTS extending beyond 16.1 quarters in some cases, particularly in Central and South Mumbai. Across India, inventory levels in the higher ticket sizes, particularly those in the INR 20-50cr category, have grown by 37% YoY. The QTS for units priced above INR 50cr is currently at 7.9 quarters, while it rises sharply to 17.1 quarters in the INR 20–50cr range. As a result, even marginal shifts in supply or availability can lead to significant fluctuations in QTS, rendering it more volatile over a relatively brief period.
Thus, the segment will remain relevant but is likely to grow at a measured pace.
Conclusion
India’s luxury housing market is still booming, especially in cities like Mumbai, Delhi-NCR, and Bengaluru. But the demand is coming from a limited group, the very wealthy and NRIs. Homes that are in the right location, backed by strong brands, and offer something special will continue to sell. Projects that don’t have these strengths may struggle to find buyers.
The boom will sober up rather than collapsing. The years ahead will reward developers who temper their ambition with caution, concentrating on prime sites and unique offerings. For the sector as a whole, the post-2020 surge will transition to a more stable and selective growth – resembling maturity and sustainability.
Microsoft has stopped its cloud and AI services for a part of the Israeli military as it found out that its products were used to spy on Palestinians. These operations are carried out on a massive scale. An investigation is ongoing, but Microsoft’s other contacts with Israel remain unchanged. So, what were they spying on exactly? What was Israel’s reply to the Microsoft Services halt? Were these services used directly to harm the public? For all the information, learn more.
What Happened?
According to reports by The Associated Press (AP) and The Guardian:
The Israeli military was using Microsoft Azure and Microsoft’s AI for cloud computing.
These tools were later used to collect, translate, and analyse phone calls and text messages of Palestinians (in a spy kind of way).
Moreover, this is the same data that Israel used to plan the airstrikes and carry out military operations in Gaza and the West Bank.
Which Part of the Israeli Military Was Involved?
It’s the unit that’s called Unit 8200 (it’s one of the prominent cyber warfare groups).
This is the same unit that is known for secret intelligence gathering, surveillance, and cyber operations.
Therefore, the unit is linked to multiple Azure subscriptions through Microsoft’s services.
What Did Microsoft Know and Do?
Microsoft knew about the situation in May 2024. It admitted that it sold AI and cloud services to the Israeli military.
However, Microsoft’s version of the story only helped the military in rescuing hostages. And it affirmed that its tools weren’t used to directly harm people.
Once The Guardian report came out in August 2024, Microsoft became cautious and hired an outside law firm to review the case.
Soon, the investigation confirmed that Microsoft’s tools were violating its own terms of service.
How Big Was the Surveillance?
Around the time Hamas attacked Israel (around or after October 7, 2023), Microsoft products were widely used by the military.
It is found that huge amounts of cloud storage and AI language translation services were used.
It is so vast, say the systems were gathering and analysing millions of calls per day.
And some of the surveillance data was stored in Microsoft cloud centres in Europe as well.
What’s Still Ongoing?
Microsoft’s outside law firm’s review is ongoing.
The company didn’t specify exactly which unit it blocked access to.
And most importantly, the Israeli military is yet to respond to the situation.
