'Giving up is very easy. But don't give up. Try out whatever you can. Something will happen.'
A gang of armed robbers targeted a State Bank of India branch in Surat, Gujarat, looting Rs 50 lakh in cash after threatening staff and customers.
They had bought Rs 29,631 crore worth of shares in August.
SBI Funds Management Ltd. is set to list on stock exchanges next week following its Rs 11,692 crore Initial Public Offering (IPO), which involves an Offer for Sale (OFS) of a 10 per cent stake by SBI and Amundi.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, with the Sensex surging over 700 points, driven by a decline in crude oil prices, easing concerns over Federal Reserve tightening, and the appointment of Anup Bagchi as the new MD and CEO of HDFC Bank.
Indian mutual funds experienced a nearly 5 per cent growth in average quarterly assets under management (QAAUM) in the second quarter of FY27, reaching approximately ~87.2 trillion, despite significant equity market turbulence and corrections in largecap and some debt segments.
State Bank of India (SBI) reported a 6 per cent increase in standalone net profit to Rs 19,684 crore for the fourth quarter ended March 2026, driven by a significant decline in bad loans.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
State Bank of India Chairman C S Setty has expressed support for a 'pause' in policy rates by the Reserve Bank of India's monetary policy committee, believing it will help stabilise conditions and support economic growth. He also urged investors to look beyond short-term equity market movements and focus on India's structural transformation, driven by reforms and digital infrastructure.
Economists widely anticipate the Reserve Bank of India's Monetary Policy Committee will increase the repo rate by 50 basis points, likely split between the October and December meetings, as retail inflation is projected to peak at 6.1 per cent in the third quarter, exceeding the RBI's tolerance limit.
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.
'When the women of India become unstoppable, India becomes unstoppable.'
India has significantly increased its diplomatic engagements with Bhutan, Nepal, Bangladesh and the Maldives.
The BCCI has announced new associate partnerships with Campa, SBI Life, and ChatGPT for India's home cricket matches. These deals are valued at over Rs 130 crore for two seasons, marking a 44% increase over the previous cycle and extending until March 2028. The partnerships highlight the growing commercial appeal and versatility of Indian cricket.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that surplus liquidity in the banking system is expected to drain within the current financial year, utilising tools like currency leakage, sell-buy swaps, open market operations (OMOs), and variable rate operations.
A recent SBI Economic Research report indicates that the significant gap between credit and deposit growth, currently over 530 basis points, is likely to persist if geopolitical risks and external supply shocks continue. However, an improvement in deposit growth is anticipated with inflows into foreign currency non-resident (bank) deposits.
Reliance Industries Ltd (RIL) has successfully raised a total of Rs 25,000 crore through domestic bond issues in September, including a recent Rs 13,000 crore 10-year bond at 7.90 per cent, as it prioritises funding certainty amidst expectations of a possible RBI rate hike and rising borrowing costs.
Indian benchmark indices Sensex and Nifty rebounded on Wednesday, driven by value buying in banking stocks and select heavyweight counters, with the Sensex climbing 332.63 points and the Nifty ending above 23,200.
'We see a lot of cases of bank deposits getting lost, especially when people die, so this will help address that because you have one consolidated view.'
The Supreme Court has noted that the Special Investigation Team (SIT) probing alleged embezzlement at the Ram temple in Ayodhya identified 105 instances of unauthorised currency removal from the counting room. While no discrepancies were found in valuable articles like silver bricks, eight accused have been identified, and a chargesheet is expected soon. The investigation involved examining CCTV footage, financial records, and witness statements.
The Enforcement Directorate (ED) has informed the Bombay High Court that former liquor baron Vijay Mallya continues to evade Indian law, and the recovery of debts by banks does not absolve him of money laundering charges.
The combined market valuation of four of India's top-10 most valued firms, including State Bank of India, Bharti Airtel, Tata Consultancy Services, and Larsen & Toubro, eroded by Rs 1 lakh crore last week amidst a volatile and range-bound equity market.
The Indian IPO market recorded its highest monthly fundraising in September, with 34 mainboard companies raising 39,309 crore, despite a significant decline in the Nifty 50 index.
Indian benchmark indices Sensex and Nifty experienced volatile trading, influenced by elevated crude oil prices, high US bond yields, and selling pressure in IT stocks, despite an early rebound.
State-run Punjab National Bank (PNB) is strategically planning to enter the wealth management segment by early 2027 and significantly expand its credit card portfolio, aiming to tap into lucrative markets largely dominated by private-sector banks.
The Securities and Exchange Board of India (Sebi) is reportedly 'close' to approving the National Stock Exchange's (NSE) initial public offering (IPO) draft documents, with an expected market debut by early next month. Sebi Chairman Tuhin Kanta Pandey also emphasised the regulator's focus on enhancing market resilience against evolving risks, including technology failures and the impact of artificial intelligence.
'Regulations give a particular minimum amount of shares to be given in the OFS or IPO -- without which one cannot do the IPO.' 'We got that number on the day of filing of updated DRHP -- sufficient for us to go live with the IPO.'
Banking services across India, particularly at public sector banks, are set to be disrupted for three days starting Monday due to a nationwide strike by bank unions. The strike, called by the United Forum of Bank Unions (UFBU), is primarily to press for a five-day working week and other demands, despite the finance ministry's appeal for dialogue.
NPCI chief Dilip Asbe stated that only about 10 per cent of the total value of UPI transactions might see charges passed to consumers under the merchant discount rate (MDR). He clarified that large corporates are expected to absorb most costs, and a significant portion of transactions will remain charge-free. A new fund from MDR collection is also proposed to boost UPI acceptance among small merchants.
NPCI chief Dilip Asbe stated that only about 10% of UPI transaction value might see charges passed to consumers, primarily from large corporates already absorbing credit card fees. He highlighted that 80% of Merchant Discount Rate (MDR) would come from businesses with over Rs 1,000 crore turnover, and a significant portion of transactions will remain charge-free. A new fund, potentially Rs 3,000 crore, will also be created from MDR collection to support small merchants and accelerate UPI acceptance.
IT services stocks have had tough two years, with prices coming under pressure from 2025 and the sell-off extending through the first half of 2026.
Indian benchmark indices, Sensex and Nifty, saw an early rebound after significant losses, driven by value buying, though elevated oil prices and anticipation of the US Federal Reserve's policy decision tempered gains. Track Sensex, Nifty on September 16.
75% of India's 60 million digital-payment merchants have never recorded a transaction above 2,000.
India's Chief Economic Advisor V Anantha Nageswaran stated that the country's balance of payments (BoP) pressure is expected to remain a continuous challenge due to rising imports, commodity dependence, high global interest rates, and intense competition for capital.
Indian benchmark indices, Sensex and Nifty, closed nearly flat on Thursday, influenced by the US Federal Reserve's interest rate hike and indications of further monetary tightening. Despite some intraday gains, caution prevailed, with foreign institutional investors continuing to offload equities. Meanwhile, the National Stock Exchange of India's (NSE) mega initial public offering opened for subscription, garnering 39 per cent subscription on its first day.
State Bank of India has embarked on a drive to cut the Know Your Customer (KYC) process to a single one across its branches, a top official said on Tuesday.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
Indian benchmark indices, Sensex and Nifty, closed marginally lower due to elevated crude oil prices, fresh US-Iran tensions, and expectations of a tighter monetary policy from the US Federal Reserve, despite strong domestic GDP growth.
Arundhati Bhattacharya, Salesforce President and CEO for South Asia, stated that cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in technology. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs and urged Indian businesses to transform using technology, rather than merely digitising. She also highlighted the significant economic potential of AI adoption for India.
Arundhati Bhattacharyya, Salesforce President and CEO for South Asia, highlighted how cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in the technology revolution. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs by addressing unmet business demands and could significantly boost India's GDP, with NITI Aayog estimating a USD 500-600 billion addition by 2035. She urged Indian businesses to transform using technology, focus on data, redesign work, and invest in skills, stressing that AI is not just for large corporations.
