Indian benchmark indices Sensex and Nifty closed lower, primarily due to declines in Reliance Industries and IT sector stocks, coupled with rising crude oil prices and investor caution ahead of the US Federal Reserve's policy decision.
India's wholesale price-based inflation (WPI) increased to 9.92 per cent in August, up from 9.78 per cent in July, primarily due to rising prices across food, manufactured items, and fuel and power sectors.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, primarily driven by strong buying in Reliance Industries and sustained foreign fund inflows. Adani Ports also emerged as a significant gainer after reporting an 18 per cent rise in consolidated net profit. Track Sensex, Nifty on October 29.
The Reserve Bank of India (RBI) has introduced a new framework allowing banks to offer differential interest rates on bulk deposits based on their liquidity characteristics under the Liquidity Coverage Ratio (LCR) framework, while maintaining the principle of uniform pricing across similar deposits.
India's wholesale price-based inflation surged to 11.39 per cent in September, up from 9.92 per cent in August, primarily driven by increasing prices of food, manufactured items, and fuel and power.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
Finance Minister Nirmala Sitharaman announced that India's real GDP grew by 7.8 per cent in the April-June quarter, surpassing the RBI's forecast. She attributed this strong performance to government reforms and agile economic management, reaffirming the government's commitment to expanding economic opportunities.
The Reserve Bank of India has raised the repo rate by 0.25%. Three financial planners explain how soon banks will pass the increased loan interest on, what borrowers should check and what they need to avoid.
RBI Governor Sanjay Malhotra reiterated India's cautious stance on cryptocurrencies due to concerns over monetary sovereignty and capital flows, while actively promoting underlying technologies like distributed ledger technology and tokenisation. He also addressed the global rise in public debt and hardening bond yields, attributing it to increased government and private spending, including that driven by AI, and noted the implications of global interest rates on India's monetary policy.
The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
The Economic Offences Wing (EOW) of the Crime Branch Jammu has filed a chargesheet against two individuals, Manoj Kumar and Vikram Singh, in a financial fraud case involving over Rs 1.22 crore collected from investors in Samba district. The accused allegedly induced residents to invest in schemes from unregistered or de-registered NBFCs, promising high returns but failing to deliver.
The Reserve Bank of India has imposed a penalty of Rs 41.8 lakh on Canara Bank for non-compliance with KYC norms and incorrect account classification, and Rs 3.1 lakh on Puran Associates Pvt Ltd for asset classification violations.
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.
'The sales pressure on the ground, a board and CEO not fully aligned, and a senior team that isn't pulling together -- that's when these things surface.'
The Delhi Police's Financial Monitoring Cell prevented potential losses of Rs 1.53 crore in "digital arrest" scams across five states. Their Proactive Victim Identification and Protection Team intervened to save multiple victims, including senior citizens, from transferring additional money to fraudsters who impersonated officials and threatened arrest for fabricated crimes.
RBI Governor Sanjay Malhotra announced plans to launch long-lasting polymer currency notes by the next financial year. He also discussed the central bank's data-dependent approach to interest rates, its focus on aligning inflation with the 4 per cent target, and the orderly trajectory of the rupee amidst geopolitical tensions.
India's banking system liquidity has fallen into a deficit for the first time in nearly three months, prompting the Reserve Bank of India (RBI) to inject 1.41 trillion through a seven-day variable rate repo (VRR) auction to ease the temporary tightness.
The Reserve Bank of India's 25-basis point increase in the repo rate to 5.5 per cent is expected to exert pressure on housing affordability and buyer sentiment, particularly affecting interest rate-sensitive segments and potentially moderating sales during the crucial festival season.
Sir Dorabji Tata Trust has submitted its response to governance complaints filed by two trustees, with the Maharashtra charity commissioner expected to decide the next course of action.
Reserve Bank Deputy Governor S C Murmu has highlighted the "cash paradox" where currency in circulation continues to grow despite a significant increase in digital payments. This trend complicates the RBI's forecasting and planning for currency production and distribution, prompting the central bank to seek solutions and explore ways to extend banknote life and reduce the carbon footprint of the cash cycle.
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.
Oracle India head Shailender Kumar states that Indian businesses have transitioned from AI pilot projects to full-scale deployment, realizing significant benefits. While challenges like cost, skills, and infrastructure exist, companies are keen to adopt AI once tangible advantages are proven, with governance and regulation evolving alongside the technology's maturity.
'Existing borrowers who have surplus cash should make partial loan prepayments to offset the impact of rising EMIs and reduce the overall interest burden.'
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
ICICI Bank has successfully raised $1 billion through a five-year senior unsecured US dollar bond, marking its first public dollar bond issuance since 2017 and the largest single-tranche US dollar bond issuance by an Indian issuer so far this year.
Multiple borrowings and weak cash flows are causing repayment delays among gold loan borrowers.
The Central Board of Indirect Taxes and Customs (CBIC) has issued new guidelines for GST officers, mandating year-wise demand breakdowns in multi-year notices, clarifying registration procedures, and streamlining export rules to reduce litigation and improve taxpayer clarity.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
Indian stock markets are set to be influenced this week by a confluence of factors including quarterly corporate earnings, the US Federal Reserve's interest rate decision, fluctuations in crude oil prices, and ongoing geopolitical developments in West Asia.
'Once this entire AI and tech driven euphoria in the Western markets sees a correction there will be a re-evaluation of the Indian equity market and inflows will resume.'
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
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 portfolio could be split between listed and unlisted investments, or structured along sectoral lines.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
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.
India's foreign exchange reserves decreased by $711 million to $681.61 billion for the week ending June 5, primarily driven by a significant reduction in foreign currency assets, according to the Reserve Bank of India (RBI).
Fitch Ratings has increased India's GDP growth forecast for the current fiscal year (FY'27) to 6.9 per cent, up from 6.4 per cent, attributing the revision to robust economic growth in the June quarter and overall economic resilience. The agency also anticipates the Reserve Bank of India (RBI) will raise interest rates by 0.25 per cent in October.
Indian government bond yields have recorded their worst losing streak in three decades, rising for the tenth consecutive week, driven by elevated crude oil prices and increasing global yields. The rupee also weakened, and India's foreign exchange reserves saw a significant decline.
The Economic Offences Wing (EOW) of the Crime Branch has filed a chargesheet against four individuals in a 16-year-old fraud case involving Johar Veer Goga (JVG), an unauthorised non-banking finance company in Jammu. The case stems from an investor's complaint in 2010 regarding an unpaid fixed deposit from 1996-97, revealing that JVG operated without proper regulatory registration.
