The Ram Temple trust in Ayodhya has implemented a new, two-shift system for counting cash donations, overseen by the State Bank of India (SBI), following an embezzlement scandal. A new team, including ex-servicemen and supervisors, has been deployed to enhance security and transparency in the process, aiming to prevent future theft and restore public trust.
India's outward foreign direct investment (FDI) plummeted by 47.9 per cent year-on-year to $3 billion in June 2026, according to the Reserve Bank of India (RBI), with declines across equity, debt, and guarantee commitments.
The Reserve Bank of India (RBI) has mandated that banks must dispose of immovable assets acquired against bad loans within seven years through public auction, effective October 1, 2026, and has also barred their sale back to the original borrower or related parties.
Indian benchmark indices, Sensex and Nifty, extended their losses for a second consecutive day, primarily due to HDFC Bank's disappointing quarterly earnings and escalating tensions in West Asia, coupled with persistent foreign fund outflows.
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.
Govind Dev Giri Maharaj, treasurer of the Shri Ram Janmabhoomi Teerth Kshetra Trust, acknowledged supervisory lapses at the Ayodhya Ram temple following alleged donation theft, but stated he would not resign as he does not consider himself personally at fault. He estimated the theft could be around Rs 3 crore and criticised SBI for not verifying employee credentials.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, driven by softer-than-expected US inflation data which has reinforced expectations of a less aggressive monetary policy stance from the Federal Reserve, providing relief to global risk assets.
The Reserve Bank of India (RBI) has issued amended directions for bank boards, effective October 1, 2026, to rationalise agenda items and enable more focused engagement on strategy and risk governance, while explicitly defining matters reserved for board approval and periodically reviewing delegated powers.
India's foreign exchange reserves increased by USD 964 million to USD 675.157 billion in the week ending July 10, according to the Reserve Bank of India.
India's foreign exchange reserves increased by USD 7.26 billion to USD 674.193 billion for the week ending July 3, as reported by the Reserve Bank of India. This surge follows a previous week's drop and comes after Prime Minister Narendra Modi's appeals to conserve forex.
'Banking is the only sector that can see double-digit growth in FY27.'
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
New capital exposure norms implemented by the Reserve Bank of India (RBI) from July 1 have led to a noticeable drop in trading volumes, with Multi-Commodity Exchange (MCX) options premium ADTV falling by nearly 40 per cent in early July.
A Special Investigation Team (SIT) probing the alleged embezzlement of donation money at the Ram Temple in Ayodhya is expected to question people associated with the Shri Ram Janmabhoomi Teerth Kshetra Trust and review banking arrangements for donations.
Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
India's retail inflation rose to 4.38 per cent in June, driven primarily by costlier food items, pushing it above the Reserve Bank of India's median target of 4 per cent for the first time under the new series.
The initial public offer (IPO) of SBI Funds Management Ltd was fully subscribed on the second day of bidding, receiving bids for 1.17 times the shares on offer, with strong interest from non-institutional investors and anchor investors.
Amidst an ongoing SIT probe into alleged embezzlement of Ram temple donations, Shri Ram Janmabhoomi Teerth Kshetra Trust treasurer Govind Dev Giri held a series of meetings in Ayodhya. These discussions followed the acceptance of resignations from former general secretary Champat Rai and trustee Anil Mishra, and the Trust's decision to overhaul its administrative structure, including appointing a professional CEO. Rai, who has adopted a vow of silence, questioned the State Bank of India's role in the donation counting process, while Giri defended Rai but acknowledged his trust in the wrong people. The SIT probe is expanding to examine the Trust's financial transactions and administrative processes.
Indian benchmark indices, Sensex and Nifty, experienced a significant downturn as escalating tensions in West Asia led to a sharp surge in crude oil prices, coupled with fresh foreign fund outflows and a weakening rupee.
The Enforcement Directorate has attached assets worth approximately Rs 112.90 crore, including a residential property in Texas, USA, in a money-laundering case. The case involves a Noida-based air-conditioner components manufacturer, LEEL Electricals Limited, and its promoters, accused of defrauding a consortium of banks led by SBI of Rs 376 crore through manipulated financial statements and siphoning off funds.
Non-banking financial companies (NBFCs) in India saw their overall credit growth accelerate to 14.2 per cent year-on-year in May, primarily driven by significant increases in loans against gold jewellery and commercial real estate, according to recent Reserve Bank of India (RBI) data.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
In essence, Tata Sons will continue to be a CIC, whether registered or unregistered. It will have to follow the 90:60 principle.
If it qualifies as belonging to the upper layer, public listing will be one of the regulatory requirements. However, if it qualifies as 'unregistered CIC', it will escape from prudential regulation, explains Tamal Bandyopadhyay.
...and 3 lakh for harassment.
The Special Investigation Team (SIT) probing the alleged embezzlement of donations at the Ram temple in Ayodhya is expected to submit its final report to the Uttar Pradesh government shortly, sources said on Thursday.
India's wholesale price inflation (WPI) increased to 9.87 per cent in June, up from 9.68 per cent in May, primarily due to significant price increases in non-food and food products, with food inflation alone rising to 5.49 per cent.
US Federal Reserve Chairman Kevin Warsh has picked former RBI governor Raghuram Rajan, Harvard University economics Professor Raj Chetty and Microsoft XBOX CEO Asha Sharma to be part of task forces constituted to examine the central bank's approach to monetary policy and propose transformational changes.
The International Monetary Fund (IMF) has reduced India's growth forecast for FY27 to 6.4 per cent, citing the potential impact of higher energy prices offsetting the country's economic resilience. Despite this, India remains among the fastest-growing major economies.
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.
It is because dealing with a regulatory system that is largely headed by retired IAS officers then becomes relatively easy, points out A K Bhattacharya.
Bharti Airtel is strategically shifting its focus towards data centres, cloud services, and financial services as key drivers for its next phase of growth, leveraging significant past investments in digital infrastructure, as outlined by Chairman Sunil Mittal in the company's Annual Report for 2025-26.
India has significantly improved its position as a global foreign direct investment (FDI) destination, climbing two places to 11th in 2025, with inflows surging by nearly 44 per cent to $38.89 billion, according to the United Nations Conference on Trade and Development (Unctad) World Investment Report 2026.
Indian companies' overseas expansion plans are holding strong despite geopolitical tensions in West Asia, driven by structural factors like supply-chain diversification, free trade agreements, and market expansion, according to Ajay Sharma, managing director and head of banking at HSBC India.
SBI Funds Management, India's largest asset management company, has set its IPO price band between 545 and Rs 574 per share, valuing the company at 1.2 trillion. The management explained the 'moderate' valuation aims to instil investor confidence amidst market uncertainty, while also highlighting plans for AI integration, expansion into GIFT City, and new alternative investment funds.
The Asian Development Bank (ADB) has revised down India's GDP growth forecast for fiscal year 2026-27 (FY27) to 6.6 per cent from an earlier 6.9 per cent, primarily attributing the change to elevated energy prices stemming from the Middle East conflict. Despite this moderation, India is still expected to remain the world's fastest-growing major economy.
Fugitive diamond merchant Nirav Modi has been ordered by a UK High Court to pay Bank of India over USD 11.5 million, including accruing interest, for a personal loan guarantee related to his Dubai-incorporated firm, Firestar Diamond FZE.
ICICI Bank, India's second-largest private-sector lender, is set to raise approximately $500 million through an overseas dollar bond issuance, marking its first such move in nearly a decade. This fundraising effort will utilise the Reserve Bank of India's (RBI) concessional swap window, a facility designed to reduce hedging costs for foreign currency borrowings.
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
The Indian corporate bond market witnessed a significant surge, with companies raising nearly Rs 16,000 crore in a single day, primarily led by state-owned financial institutions and NBFCs. This strong momentum, driven by improved borrowing conditions and investor confidence, is expected to persist.
