Indian stock markets, including the Sensex and Nifty, experienced their third consecutive day of declines, driven by a global selloff, escalating tensions in West Asia, and a subsequent rise in crude oil prices.
Essel Group Chairman Subhash Chandra has challenged the National Company Law Tribunal's (NCLT) decision to form a five-member bench to hear his personal insolvency case, arguing that the tribunal lacks the power to constitute such a bench. This comes after a split verdict and a subsequent stay on an order allowing him to settle claims.
State-owned Bank of Baroda (BoB) reported a 72 per cent year-on-year (Y-o-Y) drop in net profit to 1,278 crore for Q1FY27 due to a $600 million out-of-court settlement related to NMC Health Plc. In contrast, Bank of India (BoI) saw its net profit rise by 36.23 per cent Y-o-Y to 3,068 crore for the same quarter, driven by healthy loan growth and improved asset quality.
The merged InsuranceDekho-RenewBuy entity aims to significantly expand its distribution network across India, offering insurance, mutual funds, and loans, with a strong focus on 'Bharat' (rural India), according to CEO Ankit Agarwal.
Indian benchmark indices Sensex and Nifty tumbled nearly 1 per cent for the third consecutive day, driven by a sharp spike in crude oil prices and significant selling in bank stocks, with Brent crude jumping to USD 95.27 per barrel.
India's UPI International payment system is now playing a crucial role in humanitarian efforts, enabling seamless disaster relief donations from Indian users to Nepal's Prime Minister Disaster Relief Fund, showcasing its growing global acceptance and utility beyond tourism. UPI IMAGE: Kindly note that this image has been posted for representational purposes only. Photograph: Unsplash Key Points UPI International, initially for Indian tourists, is now facilitating disaster relief donations to Nepal's Prime Minister Disaster Relief Fund. The embassy of Nepal in India is actively encouraging Indian users to utilise their UPI apps for these contributions. This marks a significant shift, expanding UPI's cross-border use case beyond tourism to include inbound collection for foreign governments. The move positions UPI International alongside global payment giants like Alipay+ and UnionPay for international aid. Donors need to activate the UPI International feature on their apps to transact, with amounts converted from INR to NPR.
The search for N Chandrasekaran's successor as Tata Sons Chairman has reportedly narrowed to Tata Steel CEO T V Narendran, Tata Sons Executive Director Saurabh Agrawal, and NSE MD & CEO Ashish Chauhan, with Chauhan emerging as a potential 'dark horse' candidate.
Despite near gender parity in basic bank account ownership, women in India remain significantly underrepresented in the growing platform economy due to gaps in digital financial capability and access to credit, according to a joint report by the International Labour Organization and National Council of Applied Economic Research.
The Supreme Court of India has quashed criminal proceedings against Standard Chartered Bank and one of its officers in a 1991-92 Foreign Exchange Regulation Act (FERA) case, citing an extraordinary 23-year delay in prosecution and the Enforcement Directorate's failure to comply with mandatory procedural safeguards.
Despite large inflows of foreign funds mobilised through the Reserve Bank of India's (RBI's) concessional swap schemes, the rupee has seen little impact because the dollars have largely been absorbed into the central bank's reserves instead of being released into the spot market, according to market participants.
The combined market valuation of four of India's top-10 most valued firms eroded by Rs 87,960.29 crore last week, with Bharti Airtel experiencing the largest decline, amidst a bearish trend in the equities market.
Indian benchmark indices, Sensex and Nifty, closed higher, primarily driven by bank stocks and encouraging US inflation data, which fuelled expectations of a less aggressive Federal Reserve monetary policy. However, escalating US-Iran hostilities tempered investor sentiment, leading to some profit-taking.
Three unidentified bodies, believed to have drifted from Nepal due to devastating floods, were recovered from the Gandak river in Uttar Pradesh's Kushinagar district. This incident follows a similar recovery of four bodies in neighbouring Maharajganj, highlighting the cross-border impact of the Nepal floods which began on August 26. Authorities are coordinating with Nepal to identify the deceased and are monitoring the river situation.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
A 68-year-old Mumbai resident was defrauded of Rs 7.21 crore by cyber criminals who threatened her with false accusations of money laundering and terror funding. The fraudsters coerced her into transferring funds to bank accounts and a cryptocurrency wallet after impersonating officials from various agencies.
The Calcutta High Court has appointed a retired judge as a special officer to manage the day-to-day expenses of the Mamata Banerjee-aligned Trinamool Congress (TMC) from three debit-frozen bank accounts. The accounts were frozen following a complaint by a rival TMC faction alleging they held proceeds of crime. The court allowed transactions for party expenses and legal costs, noting that the initial freezing lacked specific material basis and that the complainant had previously benefited from these accounts.
The RBI seems to be acknowledging that all deposits are not equal -- a deposit with a lower run-off assumption is inherently more valuable than one that could disappear overnight, points out Tamal Bandyopadhyay.
Indian listed companies experienced their fastest revenue growth in 15 quarters during Q1FY27, with combined net sales rising 18.4% year-on-year, while net profit grew 16%, primarily driven by mining, metals, and banking sectors, despite a contraction in operating margins due to higher input costs.
Ladakh Lieutenant Governor Vinai Kumar Saxena has approved new rules for the regularisation of 'nautor lands', granting proprietary rights to eligible landholders. This move aims to resolve a long-pending issue, provide legal certainty, and allow land to be used as a financial asset for thousands of residents in the Union Territory.
HDFC Bank, India's largest private sector lender, reported a reduction of 3,343 employees in FY26, bringing its total workforce to 2,11,178, even as its balance sheet expanded by 12 per cent. The bank's MD and CEO, Sashidhar Jagdishan, attributed the headcount reduction to redeploying talent from back-end functions to customer-facing roles due to technology-led efficiencies. The annual report also addressed the challenging resignation of part-time chairman Atanu Chakraborty, which raised questions about the bank's governance standards.
The case pertains to a tender awarded to Ms Euroteck Environmental Private Limited when Jain was the Delhi water minister.
Investors should cap gold allocation at 10-15 per cent and consider staggered purchases through gold ETFs.
The Reserve Bank of India (RBI) net bought $561 million in June, marking its first net purchase since February, following three consecutive months of net sales. This move coincided with a series of government and RBI measures to attract foreign capital, leading to a 0.36 per cent appreciation of the rupee against the dollar.
The Delhi High Court has mandated a six-month forensic audit into the alleged dissipation of assets by former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, stemming from enforcement proceedings by Japanese drug major Daiichi Sankyo.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
India said the Hague-based Court of Arbitration has no jurisdiction over its sovereign decisions on the Indus Waters Treaty.
Inflows into non-resident Indian (NRI) deposit schemes decreased by 23.24 per cent to $2.78 billion during the first quarter of FY27, down from $3.61 billion in the previous year, according to Reserve Bank of India (RBI) data.
Gold loans accounted for 41 per cent of retail loan disbursements in FY26, up sharply from 18 per cent in FY23 and 20 per cent in FY24.
The ruling does not mean developers must always pay stamp duty. The liability depends on the applicable law and contractual terms.
Indian benchmark equity indices, Sensex and Nifty, opened higher on Monday, driven by strong buying in blue-chip stocks like HDFC Bank and Infosys, despite persistent geopolitical tensions and elevated crude oil prices.
Commercial banks in India recorded their highest credit growth in two years, accelerating to 18.6 per cent year-on-year by June 27, while also mobilising nearly 7 trillion in deposits, marking the third-highest fortnightly deposit growth in 29 years.
Essel Group founder Subhash Chandra has called for an independent audit to examine the group's borrowings, defaults, and repayments, stating that approximately 43,000 crore of its 45,000 crore total debt has been repaid.
Making UPI payments fee-based for some transactions could enhance mental reservations against digital payments -- which have largely been overcome -- once more. Do we want to regress?, asks R Jagannthan.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
Meghalaya has shown significant progress in digital transactions and financial inclusion, recording 32.76 crore digital transactions and nearly 10 lakh Jan Dhan accounts by 2025-26. Efforts like the JAM Trinity and financial literacy programmes have expanded banking access, with a high percentage of bank account holders adopting digital modes. The next phase focuses on enhancing financial literacy and cyber resilience, especially in rural areas.
Axis Bank has opened 50 new branches across India, while Abakkus Mutual Fund has surpassed Rs 10,000 crore in AUM. YES Bank launched a new credit card for women, and J&K Bank partnered with HDFC Life to enhance its insurance offerings, showcasing significant growth and strategic developments in the Indian financial sector.
Nepalese authorities have issued a flood alert for central, western, and eastern parts of the country as water levels in major rivers like Sun Koshi, Budhi Gandaki, Mahakali, and Marsyangdi have crossed alert and danger levels due to continuous monsoon rainfall, urging residents to remain vigilant.
Indian benchmark indices Sensex and Nifty opened higher, driven by a significant drop in crude oil prices and a positive trend in global equities, with foreign fund inflows further bolstering domestic markets.
Music Producer Finneas O'Connell, Billie Eilish's brother, has married actress and YouTuber Claudia Sulewski in Montecito, California, with Billie Eilish officiating the ceremony.
A bank employee in Lucknow allegedly shot dead his wife and sister before taking his own life, reportedly due to marital discord. The incident involved shootings outside an ICICI Bank branch and at his home, with the accused posting a WhatsApp status alleging 'betrayal' by his wife.
