Emirates NBD Bank has successfully acquired a 60 per cent majority stake in RBL Bank through a primary capital infusion of approximately USD 2.75 billion, marking the largest foreign direct investment in India's banking sector.
Indian benchmark stock indices, Sensex and Nifty, declined for a second consecutive day, primarily due to selling pressure in IT, oil & gas, and select banking shares. Concerns over the US-Iran negotiations and a sluggish monsoon further dampened market sentiment.
Two separate fire incidents occurred in Noida on Friday morning, one in a 12th-floor flat of a high-rise residential society in Sector 75, leading to a full evacuation, and another in a building in Sector 52. Chief Minister Yogi Adityanath has taken cognisance of the incidents, directing immediate relief and rescue operations. No casualties or injuries have been reported in either incident, and the causes are under investigation.
India is projected to attract between $80 and $85 billion through the Reserve Bank of India's (RBI) concessional swap facility, designed to boost foreign currency inflows, according to an SBI research report.
India's unincorporated non-agricultural sector, excluding construction and corporate enterprises, added approximately 7.5 million workers in a single year, reaching 128.1 million employed in 2025, according to the NSO's ASUSE 2025 report.
'Banking is the only sector that can see double-digit growth in FY27.'
Indian benchmark indices, Sensex and Nifty, closed almost unchanged due to profit-taking in blue-chip stocks, geopolitical uncertainties, fluctuating oil prices, and weak Asian market trends, despite cooling US inflation offering some support.
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.
'We have to pull 80 million workers out of agriculture and go back to where we were in 2014. That itself is going to be a huge task.' 'We have already lost time, and that is a catastrophe impending.''
Indian benchmark indices, Sensex and Nifty, closed marginally higher after a volatile trading session, driven by value buying in IT and select blue-chip counters, despite global crude price hikes and a weak rupee.
Maharashtra Chief Minister Devendra Fadnavis announced a significant waiver of approximately Rs 48,000 crore in pending electricity dues for farmers, aiming to facilitate new agricultural power connections and support the state's agricultural sector.
Indian IT stocks have seen a significant decline of up to 33 per cent year-to-date in 2026, largely due to artificial intelligence (AI) disrupting traditional outsourcing models, leading analysts to predict a challenging FY27 for the sector despite some cushion from rupee depreciation.
Indian stock markets saw a significant rebound, with the Sensex jumping nearly 790 points, primarily fuelled by strong buying interest in telecom, pharma, and private banking shares, despite a volatile trading session and a weakening rupee.
Congress leader Rahul Gandhi has accused the Modi government of 'destroying' India's education system, expressing full support for protesting students and their demands, including the resignation of Education Minister Dharmendra Pradhan and an apology from Prime Minister Narendra Modi.
'The share of the private sector is at its all-time high of around Rs 42,000 crore in FY26, reflecting its expanding role in the defence ecosystem.'
Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
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.
Indian stock market benchmark indices Sensex and Nifty closed nearly one per cent higher, extending their winning streak for a second day. This rally was driven by softening crude oil prices, positive geopolitical developments, and significant buying in blue-chip IT stocks, despite a broader global tech sell-off.
The Indian government is accelerating its sale of minority stakes in state-owned companies, including a significant offer for sale (OFS) in Life Insurance Corporation of India (LIC) expected "very soon," to meet its 80,000 crore mobilisation target and reduce its holdings to 75 per cent in most listed PSUs by year-end.
India's net foreign direct investment (FDI) surged more than fourfold to $6.58 billion in April 2026, driven by a significant increase in equity inflows and reduced repatriation by foreign investors, according to the Reserve Bank of India (RBI).
Indian benchmark equity indices, Sensex and Nifty, rebounded nearly 1 per cent, with the Sensex jumping 790.54 points to 76,991.22, driven by softening crude oil prices and strong buying in banking, financial, and IT shares.
Gurugram Police have arrested a 50-year-old owner of a real estate firm for allegedly duping people of crores by promising land agreements.
Indian benchmark indices, Sensex and Nifty, rebounded in early trade after two days of decline, driven by positive global market trends and strong buying in auto stocks. This recovery follows a robust performance in US markets and a rally in Asian markets, particularly Japan's Nikkei, fueled by AI-driven technology optimism. Track Sensex, Nifty on July 1.
Industry bodies representing alcoholic beverage manufacturers have welcomed the India-UK Free Trade Agreement (FTA), which will see tariffs on UK whisky and gin reduced, boosting bilateral trade and supporting premiumisation. However, domestic manufacturers are calling for state governments to withdraw concessions currently enjoyed by imported liquor brands.
Prime Minister Narendra Modi addressed his Japanese counterpart Sanae Takaichi as his 'younger sister' and hailed her as a 'visionary and popular leader' during a joint press meet, where both leaders unveiled initiatives to deepen bilateral cooperation and strengthen the India-Japan Special Strategic and Global Partnership.
The Reserve Bank of India's proposal to allow non-banking financial companies (NBFCs) access to the term money market is projected to significantly increase market volumes by 40-60 per cent in the first year, potentially doubling turnover within two to three years, according to treasury executives.
Indian benchmark indices, Sensex and Nifty, experienced subdued trading and turned flat on Tuesday as investors engaged in profit-booking following a recent rally, compounded by weak Asian market trends and fresh foreign fund outflows.
Experts highlight India's significant market potential for assistive technologies, estimated at Rs 75,000-95,000 crore by 2030. They advocate for a National Assistive Technology Policy to address current gaps in access and service delivery, fostering inclusion, independence, and economic participation for persons with disabilities and the elderly.
The 4th India Sporting Goods Fair (ISGF) is set to take place, showcasing athletic gear and equipment from across the country, as the government pushes to establish India as a global hub for sports goods manufacturing.
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
The 4th India Sporting Goods Fair (ISGF) showcases athletic gear and equipment from 75 exhibitors, highlighting the government's commitment to promoting sports goods manufacturing in India.
A delegation of Indian startup founders and leaders visited the UK to explore collaborations in artificial intelligence and technology, aiming to strengthen the India-UK innovation corridor.
Prime Minister Narendra Modi on Sunday used two major public engagements in Kolkata to outline a broader vision for India's future -- one rooted in inner balance and collective well-being through yoga, and the other in national self-reliance and maritime strength.
Indian equity benchmark indices Sensex and Nifty closed lower on Thursday, driven by escalating tensions between the US and Iran, persistent foreign fund outflows, and concerns over rising US inflation.
Larsen & Toubro (L&T) is significantly investing in automation, robotics, and technology-led solutions to scale up its construction activities, as increasing traditional manpower is no longer a viable growth option, according to CFO R Shankar Raman.
rediffGURU T S Khurana answers readers' personal income tax queries
The asymmetry in deposit and credit growth is the biggest challenge before the Indian banking industry. For every 100 deposit that a bank mobilises, it needs to keep 3 with the banking regulator in the form of cash reserve ratio on which it doesn't earn any interest. Another 18 is used for buying government bonds (statutory liquidity ratio). This means, a bank is left with 79 for giving credit. Add to this, its capital which can be used for giving loans. Most banks are facing a fund crunch. They need to find ways to attract deposits if they want to sustain credit growth, explains Tamal Bandyopadhyay.
Kerala Police chief Ravada Chandrasekhar highlighted cyber fraud as a serious social challenge, particularly targeting youth, during the inauguration of 'RBI Reelathon 2026'. This multi-phase awareness campaign by the Reserve Bank of India aims to engage college students in combating cyber financial frauds through creative content creation and timely reporting.
Prime Minister Narendra Modi arrived in Sweden to hold talks on trade, technology, defence and other key sectors with his Swedish counterpart Ulf Kristersson.
The US Department of State has signed a Memorandum of Understanding with the Ultimate Fighting Championship (UFC) to launch a public-private partnership aimed at advancing sports diplomacy worldwide. This initiative will leverage UFC's extensive global platform and athletes to engage international audiences, promote cultural exchange, and champion American values such as discipline and perseverance.
