The Securities and Exchange Board of India (Sebi) has announced that investments made by Mutual Funds (MFs) and Specialised Investment Funds (SIFs) in Real Estate Investment Trusts (REITs) will be treated as equity-related instruments from January 1, 2026. The move is aimed at encouraging greater participation in the REIT market, reported news agency ANI.Sebi said it had amended the Sebi (Mutual Funds) Regulations, 1996, to enable this shift in classification. In a circular issued on November 28, the regulator stated, “With effect from January 01, 2026, any investment made by Mutual Funds and SIFs in REITs shall be considered as an investment in equity-related instruments.”The regulator clarified that REITs will be eligible for inclusion in equity indices from July 1, 2026, allowing for a six-month transition period. Infrastructure Investment Trusts (InvITs), however, will continue to be categorised as hybrid instruments for MFs and SIFs.Sebi also said existing REIT investments held by debt schemes of Mutual Funds and SIF strategies as of December 31, 2025, will be “grandfathered,” ensuring current portfolios are not forced to comply with the new classification immediately. Grandfathering typically shields ongoing investments or policies from updated rules.Despite this protection, Sebi has encouraged Asset Management Companies (AMCs) to gradually divest REIT holdings from debt schemes, considering market liquidity and investor interests.The regulator said the changes have been introduced “to protect the interests of investors in securities and to promote the development of, and to regulate the securities market”.

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File photo: US President Donald Trump (Picture credit: AP)

US President Donald Trump on Saturday defended his sweeping tariff regime, saying the duties had made the country “Rich, Strong, Powerful, and Safe,” in a post on his Truth Social account. Trump argued that because of the tariff framework he “set in place,” the United States now holds “all the cards,” asserting that the measures had stopped wars, strengthened alliances and prevented other nations from “ripping off the United States anymore.”

He claimed the stock market and retirement savings had surged, adding that “Inflation, Prices and Taxes are down,” and that education was “being brought back to the States.” Trump also said the US military and southern border were “the strongest they have ever been,” contending that the country is “respected again, respected like never before.”He attributed these outcomes to what he described as “Strong leadership and tariffs.”The president’s remarks come at a sensitive moment, as the Supreme Court is preparing to rule on the extent of presidential authority to impose duties without congressional approval. Tariff revenues have climbed sharply in recent months, as per Fox Business, reaching a record $34.2 billion in October. Total duty collections were $215.2 billion in fiscal year 2025, and the Treasury has reported $41.6 billion in revenue so far in fiscal 2026.Since Trump unveiled his “Liberation Day” tariffs in April, collections jumped from $23.9 billion in May to $29 billion in July, with August and September together bringing in $62.6 billion, reported Fox Business. US businesses pay these import taxes but often pass on the costs to consumers, though Trump has recently lifted some duties to ease price pressures.Trump has pledged that tariff revenues could finance a one-time $2,000 dividend for low- and middle-income households. As per Fox Business, US trade representative Jamieson Greer recently said that the payments would not fuel inflation, stressing they would provide “welcome relief” without altering the broader economic outlook. Trump ended his post by urging Americans to “pray to God” that the Supreme Court “do the right thing for America.”

The Indian rupee, which has been under persistent pressure through 2025, is unlikely to witness any sharp fall in the immediate term as its recent weakness has already played out, Union Bank of India said in a recent assessment. The bank noted that the currency has already slipped about 4 per cent this year and is currently stuck in a narrow band, weighed down by firm US dollar strength, capital outflows and uncertainty linked to the delayed first tranche of the India–US BTA.The rupee has been trading close to record lows, briefly touching 89.4950 in recent sessions, as foreign institutional investors have withdrawn over $14 billion since January, as per ANI. The bank said easing inflation and GST-related reforms were helping cushion some of the external strain. “Given that the rupee has already weakened by roughly 4 per cent this year, we do not expect significant further depreciation in the near term,” the report stated. It added that once clarity emerges on the trade agreement, “the appreciation threshold for the currency should shift”.Union Bank expects the rupee to remain range-bound between 88.80 and 89.50 through December, with strength likely only if there is sustained domestic equity inflow or “tangible progress” on the BTA, which could pull the currency toward 88.50 per dollar. If the pact is finalised alongside an RBI rate cut, improved FII sentiment and an anticipated US Fed easing cycle, the bank said the rupee could strengthen meaningfully. Any bearish turn, however, is expected to meet strong resistance near 89.50, with a breach opening the door to 89.90.Recently, the rupee settled at 89.45 on Friday, slipping 9 paise as a stronger greenback, firmer crude and weak equities dragged sentiment. Traders stayed cautious ahead of GDP data, which later showed the economy growing 8.2 per cent — the highest in six quarters. Forex analysts quoted by PTI said that month-end dollar demand and continued outflows were keeping the rupee pinned, even as the USD-INR pair faces resistance at 89.70 and finds support at 88.80.The rupee closed at 89.4575 in the latest session, just shy of its record low of 89.49 hit a week ago, with markets watching geopolitical developments, US tariffs and progress on the India–US deal for fresh direction.

India welcome South Africa for the opening ODI of their three-match series at JSCA International Stadium Complex in Ranchi on November 30, 2025. KL Rahul leads the hosts in Shubman Gill‘s absence due to injury, with Rohit Sharma and Virat Kohli returning to bolster the lineup after solid Australia performances. South Africa, under Temba Bavuma, aim to extend momentum from their rare Test series win in India, shifting focus to white-ball strengths without Kagiso Rabada.​

India’s squad emphasizes batting depth with Rohit nearing 20,000 international runs, Kohli’s proven record against South Africa (1,504 ODI runs at 65.39 average), and all-round options like Ravindra Jadeja, Washington Sundar, and Nitish Kumar Reddy. Rishabh Pant and Tilak Varma add middle-order firepower, while spinners Kuldeep Yadav and pacers Arshdeep Singh, Harshit Rana, and Prasidh Krishna provide variety.​

South Africa’s group blends experience from Quinton de Kock and Aiden Markram with emerging pace like Corbin Bosch, Nandre Burger, and Ottneil Baartman, plus spin control via Keshav Maharaj and Prenelan Subrayen. Dewald Brevis and Ryan Rickelton offer aggressive batting potential in the middle order.

JSCA International Stadium Complex Pitch Report

The JSCA International Stadium Complex in Ranchi presents a balanced pitch for the India vs South Africa 1st ODI, blending opportunities for batters and bowlers on its black-soil surface. Early overs favor pacers with swing and bounce, transitioning to spin-friendly conditions mid-game as the track slows, offering grip for tweakers like Kuldeep and Maharaj. Across nine ODIs, teams chasing won five times, with an average first-innings score of 235-265 and a healthy 5.94 runs-per-over rate, including highs like 348/6 by India. Dew may aid evening pursuits, likely prompting captains to bowl first under clear skies. Expect a tactical contest where spinners dominate the middle overs on this containing venue.

Also READ: Sunil Gavaskar slams Gautam Gambhir’s critics following India’s home Test whitewash vs South Africa

JSCA International Stadium Complex ODI Stats and Records 

• Total Matches: 09
• Matches won batting first: 03
• Matches won bowling first: 05
• Average 1st innings score: 235
• Average 2nd innings score: 189
• Highest total recorded: 313/5 (50 Ovs) by Australia vs India
• Lowest total recorded: 112/10 (38.2 Ovs) By Sri Lanka vs India
• Highest score chased: 288/7 (48.4 Ovs) By India vs Sri Lanka
• Lowest score defended: 260/7 (50 Ovs) By New Zealand vs India

Also WATCH: Indian supporters taunt head coach with ‘Gautam Gambhir haaye haaye’ chants following devastating 2-0 series loss to South Africa

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MS Dhoni and Virat Kohli of India (Photo by Ryan Pierse/Getty Images)

Former India batter Mohammad Kaif has shed light on why MS Dhoni and Virat Kohli were so successful as Test captains on home soil. His remarks came in the aftermath of India’s 0-2 defeat to South Africa, marking the team’s second consecutive home whitewash under head coach Gautam Gambhir. India had previously suffered a 0-3 rout against New Zealand last year. Speaking in a video posted on his X account, Kaif lauded Dhoni’s leadership style, saying the former skipper built an atmosphere where players felt secure and trusted. He highlighted Dhoni’s sharp reading of the game and ability to build a team around that understanding.

“Do you know why Dhoni and Virat Kohli became such great captains? Dhoni first backed the players, created an environment where the players felt comfortable, and then backed them. He had such deep knowledge of reading the game that he built his team accordingly. He used Ashwin, Jadeja, and even Pragyan, and all of them took wickets. When Dhoni captained the Indian team, there was a presence which gave a big advantage,” Kaif explained. Dhoni led India in 30 home Tests, winning 21, making him the second-most successful home Test captain for the country. Kaif also spoke about Kohli’s leadership, noting that the former captain operated with a different kind of intensity and demanded the highest standards from his bowling unit. “Virat Kohli went one step ahead of Dhoni. His aggression comes out when the team is in trouble or stuck. Kohli told his bowlers, If you want to play, then you have to take 20 wickets; else, don’t come to the ground. You know, Kohli has lost two Test matches at home. He captained in 31 Test matches. Kohli believed in keeping the core intact,” Kaif said. He added that South Africa had toured India earlier when Kohli was captain and were thoroughly outplayed. According to Kaif, Kohli’s strength was his ability to utilise both fast bowlers and spinners smartly after analysing the opposition. This, he said, was a key reason behind Dhoni and Kohli’s success as leaders. Kohli remains India’s most successful Test captain at home, with 24 victories in 31 matches — the best record by an Indian skipper in home conditions.

Ranchi: India’s head coach Gautam Gambhir during a training session on the eve of the first ODI cricket match of a series between India and South Africa, in Ranchi, Jharkhand. (PTI Photo/Kamal Kishore) (PTI11_29_2025_000171A)

NEW DELHI: After dominating at home for 12 straight years without dropping a single Test series, India have now lost two of their last three — a 3-0 defeat to New Zealand last year and a 2-0 loss to South Africa this season. Both setbacks have come under the tenure of head coach Gautam Gambhir, who took over in July 2024. The 408-run defeat in Guwahati was India’s heaviest loss by runs in Test cricket.Instead of owning his mistakes as coach after another debacle at home, Gambhir highlighted his successes, including a 2-2 Test series draw in England, where India should have won 3-1, and where his obsession for extra batting cushion forced a bowler of Kuldeep Yadav’s ability to warm the bench entire summer.

He even pointed out his victories in the Champions Trophy and Asia Cup this year. India were the best team in the Champions Trophy — skill-wise they were a superior side — but we can’t forget that India were stationed at the same hotel in Dubai’s downtown area and played all their games at the same venue while the other teams were travelling back and forth from Pakistan, including the hosts. It wasn’t something which the Men in Blue asked for but the circumstances did give them a slight edge over their opponents.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!In September, under coach Gambhir, India lifted the Asia Cup – second white-ball title – after beating arch-rivals Pakistan in the final. India were the favourites again and, despite experimenting with the middle order throughout the tournament, they went on to win the Cup.These two tournament wins have beefed up the trophy cabinet but it’s strange that the southpaw who played a pivotal role in India’s wins in the 2007 T20 World Cup and the 2011 ODI World Cup finals, is glorifying the Asia Cup win — something that just doesn’t sit well with the cricketer India has known.“I’m the same guy who got results in England as well, with a young team. And I’m sure you guys will forget very soon because a lot of people keep talking about New Zealand. And I’m the same guy under whom we won the Champions Trophy and Asia Cup as well,” he told reporters in Guwahati.

Head Coach Gautam Gambhir

These comments do not reflect the feistiness and heart-on-his-sleeve attitude Gambhir is known for. They sound like coming from someone who is all at sea with his thoughts, rattled by the recent results and clearly struggling to find the right template in Tests.There were mentions of transition and exit of the stalwarts and the inexperience in the change room too.“I don’t think ever in Indian cricket something like this has happened, where the transition is happening in the spin-bowling department and in the batting department as well,” he mentioned.Cheteshwar Pujara, however, didn’t agree with the head coach’s reasoning and termed it as an excuse.“I don’t buy this that India are losing at home because of transition. I can’t digest that,” Pujara told broadcasters after India lost by 30 runs in Kolkata.“If you lose in England or Australia because of transition, it could be acceptable. But this team has the talent and potential. You look at the first-class record of all the players — Yashasvi Jaiswal, KL Rahul, Shubman Gill… Washy (Washington Sundar) batted at No. 3 in this game — all their records are so good. Still, if you lose at home, that means something is wrong.”

That 3-0 loss last year against New Zealand had cost India a place in the World Test Championship (WTC) final, and this defeat to South Africa has seen them slip to fifth position on the current WTC table, behind Australia, South Africa, Sri Lanka and Pakistan.India’s Test future is slipping into the doldrums, and Gambhir’s legacy is now in danger of being defined as the coach under whom India’s iron grip at home finally cracked.