Market regulator SEBI sets sights on the booming PE, VC funding of startups. From valuation methodology to the valuation ‘manager’ SEBI is seeking answers from the hottest ecosystem that is now facing a funding winter. Host Arijit Barman talks to Sugata Ghosh, Associate Editor The Economic Times, Pratibha Jain, Head of Strategy and Group General Counsel at Everstone Group and Tushar Aggarwal, Founder and CEO at Stashfin.
Credits: WION, MoneyControl, NDTV, CNBC-TV18, Business Today, ET NOW

Market regulator SEBI sets sights on the booming PE, VC funding of startups. From valuation methodology to the valuation ‘manager’ SEBI is seeking answers from the hottest ecosystem that is now facing a funding winter. Host Arijit Barman talks to Sugata Ghosh, Associate Editor The Economic Times, Pratibha Jain, Head of Strategy and Group General Counsel at Everstone Group and Tushar Aggarwal, Founder and CEO at Stashfin. Credits: WION, MoneyControl, NDTV, CNBC-TV18, Business Today, ET NOW

To make sense of the week’s hottest stories in business, economy, politics and markets, journalists from the Economic Times chat with reporters and industry leaders in this thrice-weekly (Tuesday, Thursday, Friday) podcast.

The Morning Brief

SEBI's Brush with Upstart Valuations

How has the rupee moved and who feels it most?

Which costs rise quietly before rupee pain?

Is rupee volatility worse than steady decline?

Do RBI rate cuts offset kitchen inflation?

How should importers hedge with rupee at 92?

Can rupee swings hit EMIs despite stable rates

Should family rethink foreign education costs?

Can SIPs offset FPI exits, middle class 2026?

Should small savers rethink money parking now?

 How will the rupee behave in 2026?

Conclusion

Credits

In 2025, the Indian rupee has quietly become Asia’s worst-performing currency but the real impact isn’t just on trading screens, it’s inside Indian homes. From higher cooking oil prices and costlier foreign education to travel bills and shrinking savings returns, rupee volatility is reshaping middle-class finances in ways few anticipate. Why is the currency weakening despite strong GDP growth, healthy forex reserves, and a manageable current account deficit? Host Anirban Chowdhury talks to Madan Sabnavis, Chief Economist, Bank of Baroda to unpack how import inflation seeps in with a lag, why RBI interventions focus more on volatility than levels, and why currency swings hurt consumers more than a steady decline. With foreign investors pulling billions out, US-India trade talks stalled, and global sentiment overpowering fundamentals, the rupee’s fate may lie beyond domestic control. 

Listen In:

You can follow Anirban Chowdhury on his social media: X and Linkedin

Check out other interesting episodes from the host like

Battle Beyond Borders, Peace Perished: Explaining the Pahalgam Terror Attack, Corner Office Conversation with Sridhar Vembu, CEO, of Zoho Corporation, Rebel Foods’ chief on Building Brands, Tech, and an IPO on the Horizon and much more.

Catch the latest episode of ‘The Morning Brief’ on The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

In 2025, the Indian rupee has quietly become Asia&rsquo;s worst-performing currency but the real impact isn&rsquo;t just on trading screens, it&rsquo;s inside Indian homes. From higher cooking oil prices and costlier foreign education to travel bills and shrinking savings returns, rupee volatility is reshaping middle-class finances in ways few anticipate. Why is the currency weakening despite strong GDP growth, healthy forex reserves, and a manageable current account deficit? Host Anirban Chowdhury talks to Madan Sabnavis, Chief Economist, Bank of Baroda to unpack how import inflation seeps in with a lag, why RBI interventions focus more on volatility than levels, and why currency swings hurt consumers more than a steady decline. With foreign investors pulling billions out, US-India trade talks stalled, and global sentiment overpowering fundamentals, the rupee&rsquo;s fate may lie beyond domestic control. Listen In: You can follow Anirban Chowdhury on his social media: <a href="https://twitter.com/AnirbanET">X</a> and <a href="https://www.linkedin.com/in/anirban-chowdhury-b5067219/">Linkedin</a>
Check out other interesting episodes from the host like
<a href="https://economictimes.indiatimes.com/news/morning-brief-podcast/morning-brief-podcast-battle-beyond-borders/podcast/121052322.cms?from=mdr">Battle Beyond Borders</a>, <a href="https://podcasts.apple.com/gb/podcast/peace-perished-explaining-the-pahalgam-terror-attack/id1568661777?i=1000704659454">Peace Perished: Explaining the Pahalgam Terror Attack</a>, <a href="https://podcasts.apple.com/us/podcast/corner-office-conversation-with-sridhar-vembu-ceo-of/id1568661777?i=1000731722016">Corner Office Conversation with Sridhar Vembu, CEO, of Zoho Corporation</a>, <a href="https://podcasts.apple.com/in/podcast/rebel-foods-chief-on-building-brands-tech-and-an-ipo/id1568661777?i=1000733234302">Rebel Foods&rsquo; chief on Building Brands, Tech, and an IPO on the Horizon</a> and <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">much more</a>.
Catch the latest episode of &lsquo;The Morning Brief&rsquo; on <a href="https://economictimes.indiatimes.com/podcast?from=mdr">The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">Apple Podcasts</a>, <a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_">JioSaavn</a>, <a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief">Amazon Music</a> and <a href="https://www.youtube.com/@theetpodcasts">Youtube</a>.

How Will a Volatile ₹ Impact You in 2026?

Grasslands vs wastelands: why confuse the two?

How grasslands are geographically undercounted

 Why should  grasslands matter to urban India?

Which grasslands are wrongly tagged wastelands

One example showing the real cost of wasteland

Why grasslands are ignored as carbon sinks now

Grasslands may beat trees on climate cost gain

Turning grasslands into solar parks is mistake

Lose grasslands, milk meat wool supply crashes

Grassland neglect exposes India's policy decay

Half your milk comes from animals grazing on land the government calls wasteland. The mutton in your biryani? Same story. We're talking ₹1.3 lakh crore annually 5% of India's GDP built on ecosystems we've systematically mislabeled as worthless since the British needed a tax category for "land we can't monetize. Now we're converting these "wastelands" into solar farms at scale without asking the millions of pastoralists who depend on them, or calculating the carbon stored beneath them, or wondering what happens when milk and meat prices spike because we've paved over the free grazing grounds that keep them affordable. The twist? These aren't degraded lands waiting for rehabilitation. They're ancient grasslands and savannas that have existed for millennia, doing exactly what they're supposed to do. We just never bothered to look closely enough to notice. Until now, when it might be too late. Host Anirban Chowdhury asks Dr Abi Vanak, Director, Centre for Policy Design at the Ashoka Trust for Research in Ecology and the Environment (ATREE-CPD), to explain.

Listen in:

You can follow Anirban Chowdhury on his social media: X and Linkedin

Check out other interesting episodes from the host like Battle Beyond Borders, Peace Perished: Explaining the Pahalgam Terror Attack, Corner Office Conversation with Sridhar Vembu, CEO, of Zoho Corporation, Rebel Foods’ chief on Building Brands, Tech, and an IPO on the Horizon and much more.

Catch the latest episode of ‘The Morning Brief’ on The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

Half your milk comes from animals grazing on land the government calls wasteland. The mutton in your biryani? Same story. We're talking ₹1.3 lakh crore annually 5% of India's GDP built on ecosystems we've systematically mislabeled as worthless since the British needed a tax category for "land we can't monetize. Now we're converting these "wastelands" into solar farms at scale without asking the millions of pastoralists who depend on them, or calculating the carbon stored beneath them, or wondering what happens when milk and meat prices spike because we've paved over the free grazing grounds that keep them affordable. The twist? These aren't degraded lands waiting for rehabilitation. They're ancient grasslands and savannas that have existed for millennia, doing exactly what they're supposed to do. We just never bothered to look closely enough to notice. Until now, when it might be too late. Host Anirban Chowdhury asks Dr Abi Vanak, Director, Centre for Policy Design at the Ashoka Trust for Research in Ecology and the Environment (ATREE-CPD), to explain.
Listen in: You can follow Anirban Chowdhury on his social media: <a href="https://twitter.com/AnirbanET">X</a> and <a href="https://www.linkedin.com/in/anirban-chowdhury-b5067219/">Linkedin</a>
Check out other interesting episodes from the host like&nbsp;<a href="https://economictimes.indiatimes.com/news/morning-brief-podcast/morning-brief-podcast-battle-beyond-borders/podcast/121052322.cms?from=mdr">Battle Beyond Borders</a>, <a href="https://podcasts.apple.com/gb/podcast/peace-perished-explaining-the-pahalgam-terror-attack/id1568661777?i=1000704659454">Peace Perished: Explaining the Pahalgam Terror Attack</a>, <a href="https://podcasts.apple.com/us/podcast/corner-office-conversation-with-sridhar-vembu-ceo-of/id1568661777?i=1000731722016">Corner Office Conversation with Sridhar Vembu, CEO, of Zoho Corporation</a>, <a href="https://podcasts.apple.com/in/podcast/rebel-foods-chief-on-building-brands-tech-and-an-ipo/id1568661777?i=1000733234302">Rebel Foods&rsquo; chief on Building Brands, Tech, and an IPO on the Horizon</a> and <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">much more</a>.
Catch the latest episode of &lsquo;The Morning Brief&rsquo; on <a href="https://economictimes.indiatimes.com/podcast?from=mdr">The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">Apple Podcasts</a>, <a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_">JioSaavn</a>, <a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief">Amazon Music</a> and <a href="https://www.youtube.com/@theetpodcasts">Youtube</a>.

India Calls its Grasslands “Wastelands”; it’s a ₹1.3 lakh Crore Mistake!

How Deel was born the idea behind its founding

Key challenges & defining moments at Deel path

Founder–product fit philosophy explained

Whats next for Deel growth, capital & M&A now!

Deel’s India story and expansion plans ahead

Where demand is rising India IT GCCs global

How US immigration curbs reshape global hiring

Has tougher rules raised compliance risks now

s AI widening pay gaps from junior to senior?

How Deel competes in a crowded HR tech market

How Deel runs culture as a 150-country remote

Deel targets beyond $1B ARR over five years

What does it take to build and scale a remote-first company across borders, regulations, and cultures? In this episode, host Himanshi Lohchab talks to Alex Bouaziz, co-founder and CEO of Deel, on how the company grew from a startup idea into a global HR and payroll platform operating in over 150 countries. Bouaziz reflects on early pivots, lessons from Y Combinator, and the idea of founder–product fit that continues to shape Deel’s culture and strategy. The conversation explores Deel’s expanding product suite, investments in payroll infrastructure, its approach to compliance, and how capital has been deployed through acquisitions and innovation. The episode also examines broader shifts in global hiring, cross-border talent movement, and India’s increasing role in Deel’s long-term plans offering a clear-eyed view of how companies manage scale and complexity in a rapidly changing world. 

Tune in.

You can follow Himanshi Lohchab on her social media: X and Linkedin

Check out other interesting episodes of ET in the Valley: ET in the Valley:  Grant Lee, Co-Founder & CEO of Gamma, ET in the Valley: Databricks Co-founder Patrick Wendell, ET in the Valley: Replit Founder and CEO Amjad Masad, ET in the Valley: ElevenLabs Co-Founder Mati Staniszewski and much more.

Catch the latest episode of ‘The Morning Brief’ on The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

What does it take to build and scale a remote-first company across borders, regulations, and cultures? In this episode, host Himanshi Lohchab talks to Alex Bouaziz, co-founder and CEO of Deel, on how the company grew from a startup idea into a global HR and payroll platform operating in over 150 countries. Bouaziz reflects on early pivots, lessons from Y Combinator, and the idea of founder&ndash;product fit that continues to shape Deel&rsquo;s culture and strategy. The conversation explores Deel&rsquo;s expanding product suite, investments in payroll infrastructure, its approach to compliance, and how capital has been deployed through acquisitions and innovation. The episode also examines broader shifts in global hiring, cross-border talent movement, and India&rsquo;s increasing role in Deel&rsquo;s long-term plans offering a clear-eyed view of how companies manage scale and complexity in a rapidly changing world. Tune in. You can follow Himanshi Lohchab on her social media: <a href="https://x.com/HimanshiET">X</a> and <a href="https://www.linkedin.com/in/himanshi-lohchab-751804173/">Linkedin</a>
Check out other interesting episodes of ET in the Valley: <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000738448473">ET in the Valley:&nbsp; Grant Lee, Co-Founder &amp; CEO of Gamma</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000737335976">ET in the Valley: Databricks Co-founder Patrick Wendell</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000736346116">ET in the Valley: Replit Founder and CEO Amjad Masad</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000735309153">ET in the Valley: ElevenLabs Co-Founder Mati Staniszewski</a> and <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">much more</a>.
Catch the latest episode of &lsquo;The Morning Brief&rsquo; on <a href="https://economictimes.indiatimes.com/podcast?from=mdr">The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">Apple Podcasts</a>, <a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_">JioSaavn</a>, <a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief">Amazon Music</a> and <a href="https://www.youtube.com/@theetpodcasts">Youtube</a>.

ET in the Valley: Alex Bouaziz, Co-Founder & CEO at Deel

SEBI's Brush with Upstart Valuations

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