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Supreme Court rules YES Bank’s AT1 bond write-off illegal

Let’s begin with Yes Bank, where the Supreme Court has ruled that the ₹8,400 crore write-off of AT-1 bonds in 2020 was illegal and arbitrary. The decision offers relief to bondholders, but experts warn it could create regulatory uncertainty. Despite the ruling, Yes Bank shares fell around 13% on Thursday.

Air India cuts Europe flights in network rejig, adds services to Australia, Japan 

Next, Air India is cutting some European flights while expanding services to Australia and Japan, as rising fuel costs and Pakistan airspace restrictions put pressure on its operations. Flights from Delhi to Copenhagen and Vienna will be suspended, while services to Birmingham, London Gatwick and San Francisco will be reduced. On the other hand, flights to Sydney will increase to 11 per week, and a new service to Osaka will launch in February.

India says first phase of US trade deal finalised

Turning to India-US trade ties, the first phase of the proposed trade deal has been finalised and is now undergoing legal drafting. India’s Trade Secretary Rajesh Agrawal says both sides are working towards signing the agreement soon, with India seeking better market access and greater certainty on tariffs. The update comes ahead of US Secretary of State Marco Rubio’s visit to India from October 17 to 22.

SEBI panel backs existing VWAP settlement method as CAS faces scrutiny

Finally, SEBI’s advisory committee has recommended keeping the existing method of calculating settlement prices for stock and index derivatives on expiry days for at least another year. The recommendation follows concerns over sharp price swings after the introduction of a new closing auction system. The committee has also proposed changes to trading hours and order-handling rules, with its recommendations expected to shape SEBI’s upcoming guidelines.

Script & VO: Prethicshaa Gurumoorthy

Published on October 16, 2026