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The massive Web3 talent pool residing in the country has led to innovation in diverse areas within the space. This includes decentralized finance (DeFi), metaverse, and non-fungible tokens (NFTs), among others, aiming to solve the most pressing issues facing our country. However, despite this impressive foundation, the sector’s growth is hindered by an outdated taxation framework. The upcoming Union Budget offers a crucial opportunity to address these challenges and unlock the full potential of Web3 for India’s economy.

Lenders issued around 820,000 new credit cards in December, the highest in four months, driven by increased spending during the wedding season. HDFC Bank and SBI Cards led with significant contributions. Despite stress in unsecured segments, credit card spending surged by nearly 11%, reaching ₹1.9 lakh crore.

Data released by RBI shows purchases were made across three sessions. The central bank bought ₹2,570 crore worth of government bonds on January 15, ₹4,480 crore on January 16, and ₹3,125 crore on January 17, the weekly statistical supplement (WSS) shows.

US Stocks: The benchmark S&P 500 and the tech-heavy Nasdaq opened muted on Friday, with investors staying cautious ahead of economic data, while planemaker Boeing dropped after issuing a quarterly profit warning.

IndiGo Q3 Results : IndiGo reported a Q3FY25 profit of ₹2,499 crore, down 18% YoY due to currency fluctuations. Excluding this impact, profit rose 26%, driven by festive demand and strategic expansion.

CreditAccess Grameen Q3 Results: CreditAccess Grameen reported a Q3FY25 net loss of ₹100 crore, compared to a ₹353 crore profit last year, due to asset quality stress in the microfinance sector and increased provisions.

DLF reported a Q3FY25 net profit of ₹1,055 crore, up from ₹648 crore YoY, driven by record sales bookings of ₹12,093 crore, led by luxury project "The Dahlias."

Oil prices edged up on Friday but remained on track for a weekly decline after U.S. President Donald Trump announced sweeping plans to boost U.S. production and demanded that OPEC move to lower crude prices.

Gold prices extended the rally for the eighth consecutive session and climbed Rs 200 to breach the psychological level of Rs 83,000 per 10 grams for the first time in the national capital on Friday amid aggressive buying triggered by global market uncertainties.