In this week’s wrap-up, we discussed why the RBI is rewriting its liquidity rules, the winning theories behind the 2025 Nobel in Economics, why IndiGo co-founder Rakesh Gangwal sold his stake, why Ford wants to make a comeback to India, and the troubles of Bira91 — a once-successful craft beer brand.

And in this week’s Markets edition, we compared passive and active investing and answered whether the passive investing hype is deserved or delusional. Click here to read the full story.

Also, we’re taking a publishing holiday on October 20th (Monday) for Deepavali, and will be back on October 21st. Until then, have a safe and bright Festival of Lights!🪔

With that out of the way, let’s take a look back at what we wrote this week.

Why RBI is rewriting the liquidity rules

With an IPO here and an IPO there, IPOs are literally everywhere! And that is in sharp contrast to what FPIs are doing — pulling out investments in record numbers.

They’ve already pulled out over ₹1.6 lakh crore so far this year because Indian equities are looking pricey, which is why the RBI has stepped in with a clever move.

It has quietly loosened borrowing rules, from higher IPO financing limits to banks funding mergers for the first time ever.

But can more liquidity really keep the markets buzzing without creating new risks?

Read our take in Monday’s story here.

Inside the theories that won the 2025 Economics Nobel

The Nobel Prize winners are out! And this year’s Economics Nobel went to Joel Mokyr, Philippe Aghion, and Peter Howitt — three economists who cracked the code on how innovation fuels long-term economic growth.

But how did they arrive at this Nobel-winning idea?

Well, they noticed something strange. For most of human history, the economy barely moved. Then suddenly, after the Industrial Revolution, everything changed. Growth became the new normal. So they dug deeper.

Turns out, before the Industrial Revolution, people like blacksmiths knew how to make things but not why they did what they did. The doers and the thinkers lived in separate worlds. But when science entered the picture and theory finally met practice, innovation stopped being a happy accident. It became deliberate. That’s what set off centuries of progress, powered by creativity, technology, and a willingness to embrace change.

But here’s the catch. The laureates also warn that if we don’t handle innovation’s side effects wisely, growth could flatten once again.

So, what can we do to keep that from happening?

Find out in Tuesday’s newsletter here.

Why IndiGo’s co-founder quietly flew away

India’s aviation industry has seen plenty of crash landings — Kingfisher, Jet Airways, even Air India before its rescue. But one airline not only survived the turbulence, it dominated the skies — IndiGo.

With over 60% market share and record profits, it’s the undisputed king of Indian skies. But then its cofounder, Rakesh Gangwal, has been quietly selling his stake and has exited the company despite its success. Initially holding over 35%, Gangwal gradually reduced his shareholding to under 5% by mid-2025.

So why did he quietly walk away?

Read the full story in our Wednesday newsletter to uncover the power struggle behind India’s most successful airline.

Why Ford just can’t let go of India

Once upon a time, Ford changed how India drove. Its 2013 EcoSport kicked off the compact SUV craze that every carmaker now cashes in on. But while the segment thrived, Ford quietly drove off — shutting its factories, bleeding losses, and leaving behind a legacy on Indian roads.

But now, there’s a twist in the tale. Ford’s holding on to its Chennai plant, and whispers suggest a possible comeback. Maybe not for Indian buyers, but for exports.

So is Ford plotting a quiet return or just not ready to say goodbye?

Read the full story in our Thursday newsletter to find out.

Why is everyone talking about the fall of Bira 91?

Bira 91 was once India’s coolest craft beer. It was born out of Ankur Jain’s bold leap from New York’s startup scene to Belgium’s breweries. It disrupted India’s beer market with its smooth taste and quirky branding, quickly becoming a crowd favourite.

But a simple name change turned into a nightmare, halting sales across key states and draining its finances.

Now, with mounting losses, angry employees, and uncertainty over whether it can raise more capital, Bira’s fizz seems to be going flat.

So is the bubble about to burst or can Bira pull off a comeback?

Read the full story here, to find out what went wrong.

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Until next time… Happy Deepavali! 🪔

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