Business
‘Darkest Day Of My Life’: Vedanta Founder Anil Agarwal’s Son Agnivesh Dies At 49
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Anil Agarwal announced the death of his son Agnivesh Agarwal due to cardiac arrest. Tributes poured in as the Vedanta Group family mourns this loss and requests privacy.
Anil Agarwal announced the death of his son Agnivesh Agarwal due to cardiac arrest. Tributes poured in as the Vedanta Group family mourns this loss and requests privacy. (Pic: Facebook)
Agnivesh Agarwal, son of Anil Agarwal, chairman of the Vedanta Group, passed away at the age of 49 following a sudden cardiac arrest in New York, the industrialist said on Wednesday.
In a statement shared on X, Anil Agarwal described the loss as the “darkest day” of his life. He said Agnivesh had earlier suffered injuries in a skiing accident in the United States and was undergoing treatment at Mount Sinai Hospital. According to the family, his recovery had been progressing well and doctors were optimistic before his condition deteriorated unexpectedly.
Today is the darkest day of my life.My beloved son, Agnivesh, left us far too soon. He was just 49 years old, healthy, full of life, and dreams. Following a skiing accident in the US, he was recovering well in Mount Sinai Hospital, New York. We believed the worst was behind us.… pic.twitter.com/hDQEDNI262
— Anil Agarwal (@AnilAgarwal_Ved) January 7, 2026
“Following a skiing accident in the US, he was recovering well in Mount Sinai Hospital. We believed the worst was behind us. But fate had other plans, and a sudden cardiac arrest snatched our son away from us,” Agarwal wrote.
Born in Patna on June 3, 1976, Agnivesh was educated at Mayo College in Ajmer and went on to build a distinguished professional career. He played a key role in establishing Fujairah Gold and later served as Chairman of Hindustan Zinc, earning respect across the global business community.
Remembering his son, Agarwal described Agnivesh as a sportsman, musician and leader, known for his humility, warmth and compassion. “Beyond all his achievements, he remained simple, deeply human and kind. To me, he was not just my son. He was my friend, my pride, my world,” he wrote.
The Vedanta chairman said the family was devastated by the loss. “Kiran and I are broken,” he said, referring to his wife, adding that Agnivesh was also his closest confidant.
Agarwal also recalled his son’s strong belief in India’s future and their shared commitment to social development. He renewed a personal pledge to donate more than 75% of his earnings to social causes and said he would live an even simpler life in Agnivesh’s memory.
“We shared a dream to ensure that no child sleeps hungry, no child is denied education, every woman stands on her own feet, and every young Indian has meaningful work,” Agarwal wrote. “I do not know how to walk this path without you, but I will try carrying your light forward.”
Funeral details were not immediately announced.
January 07, 2026, 23:00 IST
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HDFC Bank now offers airport lounge access via digital vouchers for debit cards, with a doubled Rs 10,000 quarterly spend. Physical card swipes are discontinued.
HDFC Bank Doubles Spend Requirement for Complimentary Lounge Access
HDFC Bank Airport Lounge Access Rules 2026: HDFC Bank has revised the rules for complimentary airport lounge access on its debit cards, shifting to a voucher-based access system and increasing the minimum spending requirement. The changes have come into effect from today, January 10.
Until now, eligible debit cardholders could enter airport lounges by swiping their physical card. Under the new system, lounge access will be granted only through digital vouchers, issued to customers who meet the spending criteria.
Once eligibility is confirmed, the bank will send an SMS or email with a link to claim the voucher. Customers will need to complete OTP verification using their registered mobile number. After successful verification, a voucher code or QR code will be issued, which must be shown at the lounge for entry.
Minimum Spend Doubled For Most Cards
HDFC Bank has doubled the quarterly spend requirement for complimentary lounge access on most debit cards.
Customers must now spend Rs 10,000 or more per calendar quarter from Rs 5,000 earlier. The spend can be through single or multiple transactions, online or offline. The revised spending condition does not apply to the Infiniti Debit Card, which continues to offer lounge access without any minimum spend.
Complimentary Lounge Visits Remain Unchanged
The number of free lounge visits will continue to depend on the debit card variant:
Millennia Debit Card: 1 visit per quarter
Platinum Debit Card: 2 visits per quarter
Times Points Debit Card: 1 visit per quarter
Business Debit Card: 2 visits per quarter
GIGA Debit Card: 1 visit per quarter
Infiniti Debit Card: 4 visits per quarter
Only purchase transactions made using the debit card will count toward the quarterly spend. The following are excluded, Moneycontrol noted:
ATM Cash Withdrawals
- UPI or wallet payments (GPay, PhonePe, Paytm, etc.)
- Credit card bill payments via debit card
- Debit card EMI transactions
- New debit cardholders will also need to meet the Rs 10,000 spend threshold to become eligible.
Voucher Validity And Lounge Rules
Once issued, lounge vouchers will remain valid until the end of the next calendar quarter.
For instance:
Voucher generated on November 15, 2025 → valid till March 31, 2026
Voucher generated on January 10, 2026 → valid till June 30, 2026
Lounge access will continue on a first-come, first-served basis, with lounges retaining the right to impose stay limits—typically two to three hours—or deny entry due to operational, safety or regulatory reasons.
What this means For Customers
HDFC Bank’s updated lounge access programme places greater emphasis on higher card usage and digital verification. Customers who rely on complimentary lounge benefits will need to closely track their quarterly spending and note that physical debit card swipes will no longer work from January 10.
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January 10, 2026, 14:26 IST
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Business
What Is Core-and-Satellite Strategy And How Can It Help Investors Navigate Market Volatility?
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The ‘core’ typically makes up around 60–70% of a portfolio and is meant to deliver stable returns while serving as its foundation.
Small and mid-cap stocks produced 14-17% returns in the last 20 years. (representative image)
Navigating financial markets often seems like an uphill task as investors need to balance the desire for growth with the fear of sudden downtrends. When markets fall, people struggle to find the right direction while chasing high returns and protecting their wealth from volatility. Too much risk can lead to panic mode, while excessive caution could leave your portfolio lagging behind inflation and long-term goals.
A practical solution here is the core-and-satellite strategy emerges as a practical solution. Under this, investors get to combine a stable “core” of diversified, low-cost investments with the dynamic “satellite” portion to target higher-growth opportunities. Not only does it allow them to achieve resilience and flexibility, but the strategy also ensures steady progress even during turbulent times. By following this dual approach, people can cushion portfolios against market downfalls.
How Does It Work?
According to Moneycontrol, the “core” usually accounts for nearly 60-70 per cent of the portfolio. It is specifically designed to provide steady returns and act as the anchor of your portfolio.
It comprises stable, low-cost funds:
1. Large-cap equity funds: Your hard-earned money gets invested in established companies having proven business models. Often, it is seen that they appear to fall less compared to mid and small-cap funds.
2. Flexi-cap funds: The fund managers keep shuffling the investment between large, mid and small caps, depending on the ongoing condition of the market. In simple terms, these add flexibility and diversification to the portfolio.
3. Hybrid funds: A combination of equity and debt, these are meant for growth and stability.
However, investors must note that even the “core” is not free from risk. Moneycontrol report highlights how markets fell nearly 14 per cent between October 2024 and February 2025.
The Role of Satellite Investments
Keeping core aside, the remaining 30-40 per cent is what makes up satellite investments.
“The satellite portfolio allows tactical exposure to high-growth sectors, themes, or strategies,” the report quoted Kirang Gandhi, a Pune-based financial mentor, as saying.
This includes mid-cap and small-cap funds that hold higher growth potential. Also, it features international equity funds.
This highlights that it is the growth engine of the portfolio, but also carries substantial risk.
A key part of the core-and-satellite approach is “balance,” where the core allows the money to grow steadily and the satellite portion adds more potential without putting the portfolio at risk.
In the last 20 years, the small and mid-cap indices have generated nearly 14-17 per cent returns on an annual basis, leaving behind large-cap indices. Investors must note that falls are more frequent in mid and small-cap stocks.
Using the core-and-satellite strategy, investors get to diversify their portfolio without making it too complicated.
Kirang Gandhi said this strategy combines safety with smart opportunity for Indian investors and avoids overexposure.
“It brings structure, discipline, and clarity to long-term wealth building without chasing trends,” Gandhi concluded.
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January 10, 2026, 13:40 IST
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Gold and silver prices continued their upward trend for a second consecutive day on Saturday in both international and domestic markets.
In the international bullion market, the price of gold rose by $37 per ounce to reach $4,509, prompting a corresponding increase in local bullion rates.
In Pakistan’s domestic markets, the price of 24-carat gold increased by Rs3,700 per tola, taking the rate to Rs472,262. The price of 10 grams of gold rose by Rs3,172 to Rs405,745.
Silver prices also recorded gains. The price of silver increased by Rs270 per tola to Rs8,465, while the rate for 10 grams rose by Rs232 to Rs7,257.
Read: Staples, energy push SPI up by 3.2%
Furthermore, the Sensitive Price Indicator (SPI) for the week ended January 8, 2026, increased by 3.20% year-on-year (YoY), underscoring the continued pressure on household budgets, amid persistent food and energy inflation.
The SPI, which tracks weekly price movements of 51 essential commodities across 50 markets in 17 cities, is a key gauge of short-term inflationary trends.
On a week-on-week (WoW) basis, the SPI rose by 0.12%, reflecting broad-based price increases across consumption quintiles. The WoW inflation was marginally higher for lower- and middle-income groups: Quintile 1 (0.12%), Q2 (0.13%), Q3 (0.13%) and Q4 (0.13%), while the highest-income quintile – Q5 – saw a slightly lower inflation growth of 0.11%.
Read more: Foreign reserves rise $141m to $21.19b
On a YoY basis, the inflationary pressure was most pronounced for Q2 (3.65%) and Q3 (3.43%), indicating the disproportionate stress on lower-middle and middle-income households, compared to Q1 (2.42%) and Q5 (2.58%).
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