BL Morning Report April 21, 2026: Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

From refinery delays and RBI policy changes to charity governance issues and India-South Korea ties — here are today’s top energy, finance, governance, and diplomatic stories you need to know.

HPCL’s Rajasthan refinery dedication by PM Modi postponed after fire near crude unit

The dedication of the Rajasthan refinery, scheduled for April 21, 2026, by Prime Minister Narendra Modi, has been postponed due to a fire near the crude distillation unit. The Oil Ministry confirmed the fire has been brought under control, with no reported casualties. An investigation is underway to determine the cause and implement corrective actions. A revised date for the event will be announced soon.

RBI partially withdraws restrictions on certain rupee trades

The Reserve Bank of India has rolled back some April restrictions on rupee derivative trades, aimed at curbing the currency’s slide. The bans on non-deliverable forwards and rebooking contracts have been lifted, while related-party transaction rules have been relaxed. However, a cap on banks’ net open rupee positions remains. This partial rollback is seen as a move to balance normal hedging with curbing speculative trades.

Mehli Mistry challenges Tata Trusts’ move to amend Bai Hirabai Trust deed

Former Tata Trusts trustee Mehli Mistry has challenged the Trust’s move to amend the eligibility clauses of the 1923 Bai Hirabai Jamsetji Tata Navsari Charitable Institution Trust deed. He argues the deed clearly restricts trusteeship to practising Zoroastrians from Mumbai or Navsari, and any changes would violate its terms. Mistry questioned the legitimacy of the current board, composed of non-practising or non-Zoroastrian members, and demanded reconstitution of the board. Tata Trusts plans to scrap the eligibility restrictions in a bid to make the trust more inclusive.

India, South Korea decide to start negotiations to upgrade economic pact

“India and South Korea have agreed to begin negotiations to upgrade their partnership pact amid rising global trade disruptions. This decision followed talks between Prime Minister Modi and President Lee Jae Myung. Modi emphasized their shared commitment to peace and stability, particularly in the Indo-Pacific. Both sides aim to strengthen ties in trade, AI, semiconductors, critical technologies, and people-to-people connections. The partnership, initially boosted by the 2010 CEPA, looks to unlock new opportunities in diverse sectors, from technology to energy.

Script & VO: Prethicshaa Gurumoorthy

Published on April 21, 2026