The Reading List: February 20, 2026
Our research and opinion teams have curated a selection of articles and social media gems from the world of economy, business and finance for your weekend read
OPINION | India’s apple growers fear trade deals may cost them dear
India’s interim trade deal with the US followed the FTA with New Zealand. Barriers on apple imports have been lowered in the deals leading to apprehension here that growers are going to be squeezed
OPINION | Vault Matters: RBI’s directive on mis-selling is a band-aid on the wound, not a cure
RBI is trying to fix the distribution aspect of mis-selling. The role of mutual funds and insurers remains unaddressed. Sebi and IRDAI have to step up to address core issues
OPINION | India’s AI moment’s here but realising its full potential requires institutional redesign
AI is not something that can be layered on to the existing way of doing things. Organisations need to rethink entire processes
Nobody knows very much about where alpha comes from
Academic and computer-generated stock predictors show similar performance. Knowing the reason behind their success offers little advantage. Quantitative investors should focus on data-driven strategies rather than theoretical explanations
Is an AI price war about to begin?
Assumptions underpinning valuations of big US groups might be too optimistic
OPINION | Golwalkar’s Final Years: Leadership, duty, and legacy of RSS
RSSFACTS: Madhav Golwalkar led the RSS through critical years. Despite illness, he worked tirelessly, toured extensively, guided the organisation, supported national causes, and left a lasting leadership legacy
The government needs to address its spending capacity challenge
An analysis of the Union Budget reveals a pattern of systematic underspending, where welfare and infrastructure projects are sacrificed not just for fiscal prudence, but due to a deeper crisis in the government's capacity to execute its own grand plans
The Hedgehog and the Unicorn: Why old-school moats beat modern growth hacks
The meltdown of India's startup darlings proves that capital is not a moat—a lesson the gritty entrepreneurs of the License Raj understood all too well
Foreign holdings of US Treasuries continue to rise, but China and India are diversifying
A $652 billion surge in foreign holdings of US Treasury securities in 2025 looks like a ringing endorsement of the dollar, but China and India have been selling
OPINION | Beyond Traceability: Making battery aadhaar strategically transformative
Battery Aadhaar can improve mineral governance and promote circularity. But without strong upstream strategy, MSME support and integration of the informal sector, traceability alone cannot ensure real energy security
Regulator tightens the screws on insurance business – What should investors do?
Insurance commissions could be next in the regulator’s sights for a clean-up act, posing a threat to non-life insurers, in particular
Rooftop solar — Clouds gather over the target
PM Surya Ghar Muft Bijli Yojana risks missing its 2027 target amid financing gaps, regulatory hurdles, and discom resistance
Chart of the Day | Low CASA makes record high credit-deposit ratio a ticking time bomb
Deposits must become attractive to households again so that banks are not left scrambling
OPINION | India’s Banking Liquidity Paradox: Massive infusion but hardening yields
Over 14 months beginning December 2024, RBI injected almost Rs 18 trillion of permanent liquidity. Yet, yields hardened. This was because large-scale dollar sales by the central bank offset the liquidity surge
The crypto-loving billionaire and the $400mn ‘perfect fraud’
Businessman Ricardo Salinas thought he was dealing with financial royalty, but found himself in a transatlantic legal fight
Chart of the Day | Global sugar prices leave a bitter taste
Global sugar prices touched a 5-year low before recovering, as healthy supply expectations are colliding with fears of a fall in demand
OPINION | Purposeful Personalisation: AI-driven transformation in financial engagement
Financial institutions must move beyond generic outreach. They should adopt unified platforms and agentic AI to deliver timely, personalised, context-aware engagement. This builds trust, boosts conversion, and increases customer lifetime value
AI agents are hiring humans now. Should we worry?
Two new platforms — one where AI hires humans for real-world tasks, another where bots chat among themselves — are sparking big fears. The reality is more interesting than the panic.
OPINION | The AI threat to Indian IT services is real but the doom narrative is overblown
Markets often swing between excessive optimism and excessive pessimism. The recent correction reflects genuine uncertainty. Yet writing off Indian IT as structurally impaired is not well-thought through
BIS says AI could widen the global divide. Can India's summit help close it?
While India is hosting its Global AI summit, the central bankers' central bank published a paper explaining why emerging economies have the most to lose from AI's rise--and what can be done to change that
OPINION | Collegium System: Power, process and persistent questions of accountability
The collegium has its roots in constitutional debates on judicial appointments. Over time, it gained significant authority. Concerns about transparency, representation and accountability continue to surround its functioning
Q3 review: Growth is real, but fragile
Q3FY26 earnings brought a long-awaited revival, but analysts warn the triggers may be too temporary to sustain the market's lofty expectations.
SC spectrum ruling hits recoveries for banks, but the real damage is on lending to telcos
The real damage from SC’s ruling on spectrum is not recoveries but the caution on lending to telcos now
Has AI punctured FMCG type valuation narrative of IT stocks?
AI and new technologies have induced business and revenue uncertainty for IT companies
