PravasiDhan

News from Home — March 29, 2026

Headlines

  • Iran reopens Strait of Hormuz for "friendly nations" including India. Foreign Minister Abbas Araghchi announced on March 26 that India, China, Russia, Iraq, and Pakistan will get safe passage. India's MEA confirmed Iran is not demanding concessions in exchange. Oil dropped from $112 to $103 on the news. The 22 Indian-flagged merchant vessels still west of the Strait are beginning to transit.
  • Over 2.2 lakh Indians now repatriated from the Gulf. Air India, Air India Express, and SpiceJet continue special evacuation flights. Alternative land routes through Saudi Arabia's Salwa border crossing are also being used. Embassies have suspended routine consular services to prioritise evacuations. If you need passport or visa work done at an Indian consulate in the Gulf, it's not happening right now.
  • PM Modi inaugurates Noida International Airport at Jewar. Phase I handles 12 million passengers annually, scaling to 60-120 million by 2050. Commercial flights expected within 45-60 days — IndiGo as the launch carrier, followed by Akasa Air and Air India Express. Delhi-NCR finally gets a second airport. If you fly into IGI, you know why this matters.
  • Goldman Sachs cuts India's 2026 GDP forecast to 5.9%. That's the second cut in two weeks — down from 7% pre-conflict. They've also raised the inflation forecast to 4.6% and expect the RBI to hike the repo rate by 50 basis points from the current 5.25%. The Iran war is doing what wars do to emerging market economies.
  • Rupee slides to 94.82 against the dollar. Down nearly 4% in 2026 alone, following a 4.7% decline in 2025. If you sent money home in January, you got a worse rate than today. Small consolation.

Weather

  • Delhi: Rain and thunderstorms expected with gusty winds of 30-40 kmph, gusting to 50. Possible hailstorms. Temperatures dropping. Not the Delhi you packed for if you're visiting.
  • Mumbai: 34°C, mainly clear. Enjoy it — thunderstorms expected from tomorrow. UV index remains high.
  • Bengaluru: Isolated rainfall with thunderstorms and lightning. The city's weather has decided it's April already.
  • Chennai: Scattered thunderstorms and gusty winds continuing across South Peninsular India. Humid and hot between the showers.

Markets

  • Sensex: 73,583 (−2.25%) — five consecutive weekly losses
  • Nifty: 22,820 (−2.09%) — Goldman downgraded Indian equities to "market weight"
  • USD/INR: 94.82 — another all-time low
  • GBP/INR: 125.77
  • CAD/INR: 68.26
  • Brent crude: Swung between $112 and $103 this week. Currently around $104 after Iran's Hormuz announcement calmed markets slightly.

Goldman Sachs slashed its Nifty target by 14% and downgraded Indian equities from "overweight" to "market weight." Reliance dropped 4.6%, IndiGo fell 4.5% on fuel cost concerns. FPIs continue their exit — March is now the heaviest month for foreign outflows in over a year. The Hormuz reopening for friendly nations is cautiously positive, but "cautiously" remains the operative word.

Sports

  • IPL 2026 is underway. RCB beat SRH by 6 wickets in the opener at Bengaluru on March 28. SRH posted 201; RCB chased it in 15.4 overs. Virat Kohli and Devdutt Padikkal both hit fifties. Jacob Duffy took 3/22. The defending champions opened with a statement.
  • MI beat KKR by 6 wickets today at Wankhede. KKR posted 220/4 (Ajinkya Rahane 67 off 40), and MI chased it down in 19.1 overs. Rohit Sharma smashed 78 off 38, Ryan Rickelton made 81 off 43 — a 148-run opening stand. If you stayed up for this one, it was worth it.
  • Your sleep schedule is now officially compromised for the next two months. See our IPL survival guide for NRIs if you haven't already.

Featured Guide

India's financial year ends on March 31 — that's Monday. If you have Indian income, NRE/NRO accounts, or tax-saving investments to make, the clock is ticking: NRI ITR Filing Deadline — What US-Based NRIs Need to Know

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