In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
The bank unions had threatened to go on 4-day strike from February 25.
For the ninth consecutive night, Indian and Pakistani troops engaged in small arms fire along the Line of Control (LoC) in Jammu and Kashmir, continuing a pattern of heightened border tensions. The skirmishes, initiated by Pakistani troops in violation of the ceasefire agreement, have led to a tense situation along the LoC and International Border (IB). The incidents come in the wake of the April 22 terror attack in Pahalgam, which claimed the lives of 26 people, mostly tourists. Civilians residing near the border have begun preparing their bunkers, anticipating potential escalation. Despite a recent hotline conversation between the Directors General of Military Operations (DGMOs) of India and Pakistan, where India cautioned Pakistan, the ceasefire violations persist.
Tamil Nadu Chief Minister and DMK president M K Stalin announced that his party will file a case in the Supreme Court against the Waqf Bill passed in the Lok Sabha. The opposition AIADMK expressed solidarity with the DMK's stance, while the BJP members staged a walkout from the Assembly in protest. The CM argued that the amendment was passed at the behest of a few allies despite opposition from majority parties and that it is an attack on the Constitution and religious harmony. The DMK claims the bill threatens the autonomy of the Waqf Board and the Muslim minority population.
Union Minister for Road Transport and Highways Nitin Gadkari has announced that the long-delayed Mumbai-Goa highway will be completed by June this year. He also revealed that a new toll policy will be announced within the next 15 days, which will eliminate physical toll booths across the country. Gadkari attributed the delay in the highway project to legal disputes and land acquisition issues. He expressed confidence in India's infrastructural future, stating that the country's road infrastructure will be better than that of the United States in the next two years.
The interest rate on these schemes have remained unchanged for over a year now.
The Maharashtra government has reversed its decision to make Hindi a mandatory third language in schools after facing widespread opposition. The move comes after the state's language consultation committee urged the Chief Minister to revoke the decision. The government will now issue a revised order making Hindi learning voluntary. The decision had been met with criticism from various quarters, including opposition parties and the Maharashtra Navnirman Sena, which had called for a protest against the move.
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
During the negotiations held on May 5, IBA made two unacceptable propositions including an offer of 2 per cent hike in the wage bill cost as on March 31, 2017
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
According to the Central Bureau of Investigation, Gutte is one of the directors of Gangakhed Sugar and Energy Limited.
The flag will be taken down on July 24, 2028, which will mark the conclusion of the Simhastha Kumbh Mela, which is held once in 12 years.
The Enforcement Directorate (ED) has alleged that some Congress leaders pressured individuals to donate funds to the Young Indian and Associated Journals Limited (AJL) on instructions from senior party functionaries. The ED's chargesheet in the National Herald case claims that these individuals made payments to the company "under the influence" from senior leaders who promised them "certain favours" in party politics. The chargesheet, filed on April 9 before a local court, names Sonia Gandhi and Rahul Gandhi as accused, along with five others, under the Prevention of Money Laundering Act (PMLA). The agency alleges that these donations were not made voluntarily but in expectation of political benefits. The ED also found that YI and AJL received funds from various entities through "quid pro quo" arrangements, where individuals were asked to make payments for advertisements in the National Herald in exchange for past favours from Congress leaders.
Pakistan's troops have engaged in unprovoked firing along the Line of Control (LoC) and International Border (IB) in five districts of Jammu and Kashmir, prompting retaliation from the Indian Army. This marks the eighth consecutive night of such incidents, following heightened tensions stemming from a recent terror attack in Pahalgam. Civilians residing along the LoC and IB are preparing their bunkers in anticipation of potential escalation.
Corporate earnings from blue-chips like HDFC Bank, ICICI Bank, Donald Trump's swearing-in as the US President, and trading activity of foreign investors are the key factors to drive equity markets this week, analysts said. Trump will be sworn in as the US president for a second term on Monday. This week, several key Nifty-50 companies, including BPCL, HDFC Bank, Hindustan Unilever, Dr Reddy's, UltraTech Cement, JSW Steel and ICICI Bank are scheduled to announce their financial results.
US Vice President J D Vance and his wife Usha arrived in Delhi on Monday for a four-day visit. They were welcomed by Union Minister Ashwini Vaishnaw. Vance's visit comes amid ongoing trade talks between India and the US. Prime Minister Narendra Modi will host a dinner for the Vances on Monday evening after holding talks with the US Vice President. Vance and his family will also travel to Jaipur and Agra during their trip.
Reserve Bank Governor Bimal Jalan on Monday held a meeting the bankmen's unions in order to address the problems faced by the bank employees in issuing clean currency notes to the public.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards. HDFC Bank emerged as the only gainer from the pack.
Geopolitical tensions, trade policy uncertainties, volatility in international commodity prices and financial market uncertainties pose considerable risks to India's economic growth in the coming year, the finance ministry cautioned on Wednesday. "Global trade continues to be affected by uncertainty in the policy environment... tariff-related developments in multiple countries have heightened trade-related risks, affecting investment and trade flows globally.
From the 30-share blue-chip pack, Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank were the biggest gainers. Bajaj Finance climbed nearly 2 per cent after the company reported an 18 per cent increase in its consolidated net profit to Rs 4,308 crore for the December quarter.
"The Reserve Bank of India... has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls," Yes Bank said in a regulatory filing.
Four-time Odisha MP Pinaki Misra's wedding to firebrand TMC MP Mahua Moitra in a quiet, intimate ceremony that chose privacy and tradition over fanfare, was a reflection of his personal style.
The wage revision of public sector bank employees is due from November 2012.
US Vice President JD Vance and his family began their four-day trip to India with a visit to the Swaminarayan Akshardham Temple in Delhi. The Vances, along with their three children dressed in Indian attire, spent an hour at the temple, admiring its intricate architecture and receiving a traditional welcome. The visit comes amid ongoing trade negotiations between the US and India.
10 largecaps stocks which stand to gain from the Budget.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Keen to capitalise on the growing geopolitical support from African nations after the recently concluded G20 Summit, India is working with the African Union to hold the fourth India-Africa Forum Summit later this year in Kenya's Nairobi, sources said. Prime Minister Narendra Modi is expected to attend the mega meet along with as many as 50 African leaders, they added. First held in New Delhi in 2008, the India-Africa Forum Summit marked India's initial diplomatic efforts to seek a comprehensive partnership with the African bloc of nations as a whole, at a time when China had begun its own outreach.
Job creation, improving farm productivity, and mobilising public funds for infrastructure development were some of the issues that figured during the interaction between Prime Minister Narendra Modi and economists ahead of the 2025-26 Union Budget. The prime minister on Tuesday met eminent economists and sectoral experts at NITI Aayog to hear their views and suggestions for the upcoming Budget. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025.
Shortly after the Reserve Bank of India cut its signaling rates and the announcement of stimulus package, leading lenders HDFC Bank and Union Bank of India on Monday reduced their benchmark prime lending rates (PLR).
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling $7.2 billion -- the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton Bharat. "This represents a 67 per cent increase in volumes and a 5.4-fold increase in values compared to February 2024, while a 14 per cent increase over the previous month," it said.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
The Pahalgam massacre highlights the evolution of terrorism into a multi-domain challenge. India's response must similarly evolve -- from tactical retaliation to comprehensive strategic deterrence. To establish a credible and sustained deterrent, India must also carry out continuous kinetic operations, both overt and covert, suggest Sakshit Raina and Rahul Mishra. To establish a credible and sustained deterrent, India must also carry out continuous kinetic operations, both overt and covert, suggest Sakshit Raina & Rahul Mishra.
The Cabinet Committee on Security (CCS) met on Wednesday under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the terror attack.
