🥟 Momos Funded, Harvard Defunded

Author

Masala Chai
April 19, 2025

🌞 Happy Saturday, masala lovers!
Weekends are for recharging, but the headlines? Still hotter than April asphalt. We've got golden glimmers, momo millions, startup spice, and a global tariff storm that refuses to simmer down.

Season 4 Weekend GIF by SpongeBob SquarePants

If you thought the markets were taking a nap, think again — we’ve brewed you the perfect cup of news with extra flavor and zero fillers.

So sit back, sip up, and scroll slow — it’s time for your weekend Masala Chai. ☕

☕️ Chai Shots

  • 💸 US University Dreams Hit a Funding Freeze: A major pause in US federal funding has put international students, especially those eyeing research roles, in a bind. Institutions like Harvard and Stanford may no longer cover as much tuition, forcing many Indian students to consider Canada, the UK, or Germany instead. More in the Big Brew below. ☕

  • 🛑 No GST on UPI — Confirmed!: The government officially denied rumors of GST on UPI transactions above ₹2,000. Since there’s no merchant fee on these payments, GST doesn’t apply. Your chai tap is safe, folks.

  • 🚗 Gensol’s Saga Gets Messier: After SEBI revealed that the Jaggi brothers diverted crores for personal use, lenders PFC and IREDA are now mulling legal action. Gensol also faked documents to rating agencies, and BluSmart has suspended cab bookings across cities.

  • 🥟 Wow! Momo Gets a Tasty Cheque: The QSR chain has secured ₹130–150 crore in bridge funding, led by Haldiram’s Kamal Agrawal and Khazanah Nasional. The funds come via convertible notes as it preps a massive ₹700 crore round later this year. It currently runs 680 outlets across India and even sells frozen momos through quick commerce.

  • 📉 Zomato’s Parent Caps Foreign Stake: Eternal, the parent firm of Zomato and Blinkit, will limit foreign shareholding to 49.5%. This move aligns with recent government nudges for more Indian ownership in grocery quick-commerce. Foreign holding stood at 44.36% in March.

📈 Market Masala

  • 🟡 Gold Imports Go Full Desi Bling: India’s gold imports surged 192% in March to $4.47 billion as buyers scrambled ahead of Akshaya Tritiya. Higher global prices, a jittery economy, and inflation fears are making gold a go-to safety bet.

  • 🪙 RBI’s Forex Chest Grows Again: The forex reserve climbed by $1.57 billion to reach $677.83 billion — that’s six weeks of steady gain. The gold component alone rose by $638 million. Even SDRs and IMF reserves showed minor shuffles.

  • 🧾 Justdial Dials Up Profit: The hyperlocal search engine backed by Reliance posted ₹158 crore in Q4 profit, up 36% YoY. Revenue grew to ₹289 crore, with 11.8% more traffic and 12 lakh new listings added.

  • 🧾 GST Registration Now Easier: CBIC is cracking the whip on officers asking for unnecessary documents. New rules set a 7-day deadline for approvals and remove the need for non-mandated paperwork, making life easier for startups and SMEs.

  • 🧊 Tax Relief for Startups: DPIIT-recognised startups that file Form-2 won’t face tax scrutiny. But those straying from the rules might still land under the department’s scanner.

  • 🚘 India’s Auto Industry Lags in R&D: A NITI Aayog report says India’s automakers are stuck in low-innovation mode due to underwhelming R&D investments. Without more collaboration and investment in tech like ADAS and EVs, we risk losing global edge.

🌍 Global Masala

  • 🏦 ECB Eases, But Not Without Warnings: The European Central Bank cut interest rates by 25 bps but flagged an "exceptionally uncertain" outlook due to trade tensions. Rate cuts might continue if growth falters.

  • 🇹🇷 Turkey Hikes Rates to 46%: In a surprising move, Turkey’s central bank ended its easing spree with a massive 350 bps hike to fight 38% inflation and a tanking lira. This comes amid political drama and market panic after the mayor of Istanbul was arrested.

  • 🚢 Trump’s Trade Storm Intensifies: From port fees on Chinese-built ships to tariffs raising luxury prices (hello, Hermès), the Trump administration is adding fuel to global inflation fears. Even the Kremlin is nervous.

🍵 The Big Brew: Ivy League Dreams on Ice?

The American higher-ed scene just hit a deep freeze — and Indian students are feeling the chill. With a federal funding pause impacting elite institutions, generous financial aid packages for international students are suddenly not so generous.

🎓 What's the deal? Students heading to schools like Harvard and Stanford for research have typically received a portion of their costs covered through assistantships, tuition waivers, and stipends. But those perks are now on thin ice.

🚨 Why does it matter? Research-heavy programs — especially in STEM — are becoming harder to afford, and the ripple effects are hitting students, loan providers, and even the schools themselves. The US, once a no-brainer destination for Indian talent, is seeing a shift.

📉 The dominoes falling:

  • Loan providers like InCred Finance report a 50% drop in US-bound inquiries.

  • Ivy League yields (the % of admitted students who actually enroll) could decline.

  • Alternative destinations like Canada, Germany, and the UK are gaining traction.

💡 What does this mean? If the freeze persists, we may see Indian research talent flocking elsewhere, which could reshape global innovation pipelines — and put pressure on US universities to rethink their funding models.

🚀 Startup Scoop

🧠 Chai Break Trivia

☕ Did you know? Campa Cola was launched during the Emergency in the 1970s as India’s own cola rival when Coca-Cola exited the market.

It became a national favorite until global brands made a comeback in the '90s. Now it’s having a revival, thanks to Reliance Retail.

🫖 What's Brewing Next?

  • 🧾 SEBI likely to release deeper Gensol findings

  • 🛍️ Gold prices could peak again with Akshaya Tritiya demand

That’s your Saturday Masala Chai — served hot, strong, and drama-filled.
We’ll be back tomorrow with more headline heat.

We’ll be back Monday with more headline heat. Until then, enjoy your momo, watch the gold rush, and stay spicy, India. 😄☕

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