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From the Byju’s flameout to the fresh Adani tempest, The Morning Context helped cut through the clutter around the big developments in Indian business.

High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
An NBFC licence and a string of approvals give the fintech firm a fresh shot at relevance. But patchy execution, intense competition and a stagnant core cast doubt on whether it can capitalize on the opportunity.