Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
India has asserted that the Indus Waters Treaty with Pakistan will remain in "abeyance" until Islamabad "credibly and irrevocably" abjures support to cross-border terrorism. External Affairs Ministry spokesperson Randhir Jaiswal said that any bilateral talks with Islamabad will only be on vacation of illegally occupied territories of Kashmir by Pakistan. He also said that India is open to discussing the handing over of terrorists whose list was provided to Pakistan some years ago. India on April 23 announced a raft of punitive measures against Pakistan including suspension of the Indus Waters Treaty after the Pahalgam terror attack that killed 26 civilians.
The Indus system of rivers comprises the main river -- the Indus -- along with its five left bank tributaries, namely, the Ravi, the Beas, the Sutlej, the Jhelum and the Chenab. The right bank tributary, the Kabul, does not flow through India.
Weeks after India placed the 1960 Indus Waters Treaty (IWT) in abeyance following the April 22 Pahalgam terror attack, Pakistan has signalled its willingness to discuss New Delhi's long-standing concerns about the treaty, sources said.
Pakistan's former foreign minister Bilawal Bhutto-Zardari on Monday said his country will go to war if India denies Islamabad its fair share of water under the Indus Waters Treaty (IWT).
Pakistan was created as a result of the 1947 Partition of then-undivided India, and the Sindh region near the river Indus has been part of Pakistan since then.
'It has the potential to sow seeds of furthering discord when the direction of the discourse is aimed at propagating the perceived supremacy of 'cultural nationalism' from a distant past over the prevailing dominance of 'Constitutional nationalism',' argues N Sathiya Moorthy.
IndusInd Bank has appointed a professional firm to conduct investigation for identifying the root cause of accounting discrepancies relating to its derivatives portfolio. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the Bank's net worth.
The sales of company shares by 5 senior executives have come under scrutiny as IndusInd shares declined over 30 per cent due to losses incurred by from its derivatives exposure.
IndusInd Bank on Tuesday said global rating agency Moody's has placed the bank's baseline credit assessment (BCA) under review for a possible downgrade. The rating review comes days after IndusInd Bank disclosed a Rs 2,100 crore discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth.
India has stopped releasing water from the Baglihar Dam on the Chenab River and is planning similar measures at the Kishanganga Dam on the Jhelum River, following a recent terror attack in Jammu and Kashmir. These hydroelectric dams offer India the ability to regulate water releases. This decision potentially affects the Indus Waters Treaty, a decades-old agreement between India and Pakistan governing the use of the Indus River and its tributaries. The Baglihar and Kishanganga dams have been points of contention between the two nations in the past.
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
India has accused Pakistan of violating the spirit of the Indus Waters Treaty by engaging in acts of terrorism and refusing to modify the treaty. India's Permanent Representative to the UN, Ambassador Parvathaneni Harish, addressed the UN Security Council, highlighting Pakistan's disinformation regarding the treaty and its continued support for cross-border terrorism. He stated that India has always acted responsibly as an upper riparian state and that Pakistan's actions have jeopardized civilian lives, religious harmony, and economic prosperity. India has suspended the treaty until Pakistan ends its support for terrorism.
The Centre is planning to undertake a study to look into ways to maximise the use of the quantum of water from the three rivers that Pakistan had earlier used under the Indus Water Treaty, now that the agreement has been suspended, officials said.
Chartered accountants' apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting to the tune of Rs 2,100 crore. The private sector lender, on March 10, disclosed about some discrepancies in its derivatives portfolio which could have an adverse impact of about 2.35 per cent of the bank's net worth as of December 2024 as per its internal review.
External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday regarding accounting discrepancies in its derivatives portfolio, sources said. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth.
India strongly responded to Pakistan's remarks on Jammu and Kashmir and the Indus Waters Treaty at the UN Security Council, accusing Pakistan of supporting terrorism and violating the spirit of the Indus Waters Treaty.
IndusInd Bank MD and CEO Sumant Kathpalia on Tuesday resigned with immediate effect, taking moral responsibility of accounting lapses in the derivatives portfolio, having financial implication of Rs 1,960 crore to the bank.
Markets regulator Sebi on Wednesday barred former CEO of IndusInd Bank, Sumant Kathpalia, and four other senior officials from accessing the securities markets in connection with an alleged insider trading in the bank's shares. In addition to the market ban, Sebi has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by the regulator.
Emergency legal and constitutional consultations were held in response to India's unilateral move, and preliminary groundwork has been completed after which it has been decided to formally serve a diplomatic notice to India over the suspension of the treaty
A national rollout will take place after the pilot test in which SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank and Punjab & Sind Bank are participating.
https://www.rediff.com/business/report/why-ipo-bound-oyo-seeks-to-rename-parent-firm/20250530.htm
In 2025, India launched Operation Sindoor, a multi-domain combat mission against Pakistan in response to cross-border terrorism. The operation involved precision strikes, military retaliation, and diplomatic measures, marking a significant shift in India's security policy.
India's third-largest telecom operator Vodafone Idea (Vi) has secured a 10-year breather on adjusted gross revenue (AGR) payments from the Department of Telecommunications (DoT). This is expected to ease pressure on its balance sheet and enable the company to raise bank debt for capital expenditure.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
Pakistan has halted the construction of contentious canals in Punjab province after India suspended the Indus Waters Treaty following a deadly terrorist attack in Kashmir. The decision to suspend the canals project was made after Prime Minister Shehbaz Sharif met with PPP chairman Bilawal Bhutto-Zardari and agreed to address the concerns of Sindh province, where the project had sparked protests. The canals project, aimed at irrigating the desert region in Punjab, was seen as a threat to water resources in Sindh. Both sides have agreed to seek consensus on the issue in the Council of Common Interests (CCI), a high-powered inter-provincial body. Meanwhile, Pakistan has reiterated the importance of the Indus Water Treaty for its water security and economy, and condemned India's move to suspend it.
Weeks before the Pahalgam attack, Munir said Pakistan will not forget the issue of Kashmir, asserting, "It was our jugular vein." His comments were trashed by India.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and managing director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
IndusInd Bank on Sunday said accounting lapses in the derivative portfolio will cost the bank Rs 1,960 crore in FY25. A bank-appointed external auditor has determined cumulative adverse accounting impact on P&L at Rs 1,959.98 crore as on March 31, which is similar to the amount disclosed on April 15, IndusInd Bank said in a regulatory filing.
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.
Bharti Airtel on Monday reported over twofold jump in consolidated net profit at Rs 8,651 crore for September quarter FY26, mainly on account of growth in high-paying smartphone customers and post-paid connections.
IndusInd Bank on Tuesday fire-fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses.
The MEA said that Pakistan had been stonewalling India's requests for a government-to-government negotiation over the treaty due to changes in the ground situation since it was signed.
Telecom firm Bharti Airtel will approach the government on the adjusted gross revenue (AGR) it has to pay the exchequer following the Supreme Court's judgment that the government can reassess all AGR dues, according to vice-chairman and managing director Gopal Vittal.
With deposit growth remaining sluggish and the credit - deposit ratio of commercial banks crossing 80 per cent, banks have ramped up their borrowing in the certificate of deposit (CD) market. In the fortnight ended November 14, CD issuances climbed to nearly Rs 55,000 crore - double the borrowings of the preceding two fortnights and the highest since the September 19 fortnight.
Global brokerage CLSA has lowered its target price for IndusInd Bank from Rs 1,200 to Rs 900 while maintaining an outperform rating on the stock after the private lender disclosed a net worth hit of Rs 1,500 crore due to an accounting gap. The revised price target still implies an upside of 34 per cent from current levels.
India's private-sector banks are likely to lose market share for a second consecutive year in 2025-26, as their loan books continue to expand much slower than overall bank credit.
'As the team builds, each of them will bring in a different perspective, new thinking.'
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