Gold futures saw a significant rise for the second consecutive day, driven by strong overseas market rallies, increased safe-haven demand due to geopolitical uncertainties, and a weaker US dollar. This surge coincided with the Reserve Bank of India's decision to maintain its repo rate, reflecting a focus on growth amidst global inflation concerns and easing oil prices.
HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the Maharashtra State Road Development Corporation (MSRDC) case.
Manappuram Finance has announced the appointment of Ashish Singh as its new managing director and chief executive officer, effective January 1, 2027, marking a significant shift from its family-led governance structure.
The Reserve Bank of India has approved a three-month extension for Keki Mistry as the interim chairman of HDFC Bank, continuing his tenure until September 18, 2026, or until a regular chairman is appointed.
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.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
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.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
While the latest trigger for him stepping down could be the uncertainty around his renewal as a director at the AGM, which is otherwise a routine matter, Chandra may have been contemplating quitting for some time now because of the overall turbulence with the principal shareholder on the leadership issue.
Ahmedabad Cyber Crime Branch has uncovered a Rs 1.5 crore WhatsApp fraud, leading to the arrest of two key SIM and OTP suppliers in West Bengal. The investigation revealed a sophisticated international cybercrime network spanning China, Pakistan, India, and Hong Kong, operating a "boss scam" and utilizing a "Cybercrime as a Service" model. Police recovered a significant portion of the defrauded amount and secured thousands of devices.
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.
Public-sector banks (PSBs) have reported a substantial increase in non-interest income for Q1FY27, primarily driven by the sale of Priority Sector Lending Certificates (PSLCs) backed by their rapidly expanding gold loan portfolios. This strategy has allowed several lenders to book significant profits by exceeding priority sector lending targets.
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.
Under bullet repayment, the principal remains outstanding and unpaid interest raises the liability over time. This makes the LTV ratio more vulnerable to a sharp fall in gold prices.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
HDFC Bank, India's largest private-sector lender, has revised its FY27 growth trajectory, stepping back from earlier guidance to align with a more measured 12 per cent year-on-year expansion, citing geopolitical uncertainties.
Bank of Baroda has partnered with Reliance Jio to provide access to its mobile banking application, 'bob World Lite', for users of Jio feature phones, aiming to promote financial inclusion and digital payments.
Chandrasekaran's exit is more than a change of chairman. It represents the breakdown of the informal consensus that governed the Tata system under Ratan Tata.
The central bank has nine executive directors, and one of them -- S Karuppasamy -- retired recently. R Gandhi, who was executive director, has now been promoted to the post of deputy governor.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
What is the reason behind this drying up of talent for the top post in private banks?
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
'During the bank's board meeting, many directors asked him if there is a governance issue but he said there is none.'
The Reserve Bank of India (RBI) is developing digital public infrastructure and payments intelligence platforms using artificial intelligence and application programming interfaces to improve customer experience and strengthen the payments ecosystem.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
'Dark patterns exploit human psychology, cognitive biases, urgency, confusion, or lack of attention to increase revenue for digital platforms at the expense of consumer choice and transparency.'
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
The much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Indian corporate are increasingly shifting away from bank funding towards alternative sources, such as equity and bond markets, as their deleveraged balance sheets have improved their ability to raise equity at better valuations. Moreover, the 100 basis points (bps) rate cut by the Reserve Bank of India (RBI) has enabled them to access long-term funds from the debt capital market at cheaper rates.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
The pickup was driven partly by fresh corporate investment but more by higher working-capital demand.
