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Kotak Mahindra Bank to acquire Deutsche Bank's India retail banking business
Kotak Mahindra Bank has significantly expanded its footprint by acquiring Deutsche Bank's retail, private banking, and wealth management operations in India. This substantial deal, one of the largest in recent years, includes approximately ₹29,000 crore in loans and ₹16,000 crore in deposits. Around 1.5 lakh clients and nearly 1,000 employees will now join Kotak Mahindra Bank, bolstering its presence in the Indian financial landscape.
India's external debt to GDP ratio rises to 20.8% in Mar-26 from 19.8% in Mar-25
Reserve Bank of India (RBI), stated in a latest update today that at end-March 2026, India's external debt was placed at US$ 762.8 billion, an increase of US$ 26.3 billion over its level at end-March 2025. The external debt to GDP ratio increased to 20.8 per cent at end-March 2026 from 19.8 per cent at end-March 2025. Valuation effect due to the appreciation of the US dollar vis-vis the Indian rupee and other major currencies amounted to US$ 24.6 billion. Excluding the valuation effect, external debt would have increased by US$ 51.0 billion instead of US$ 26.3 billion at end-March 2026 over end-March 2025.
SBI raises $300 mn via 3-year dollar bonds at SOFR plus 100 basis points
The country's largest lender becomes the latest Indian issuer to tap overseas debt markets under the RBI's concessional swap window with a $300 million bond issue
SBI Securities prefers HDFC Bank, sees long-term upside in metals
Sunny Agarwal, Head Fundamental Research, Retail Desk at SBI Securities, remains positive on private banks, preferring HDFC Bank over Kotak Mahindra Bank after the lender received a clean legal review. He says Persistent Systems' acquisition benefits may take up to eight quarters to materialise, while slower growth remains a near-term concern. Agarwal is also bullish on the metals sector, with Indian Metals & Ferro Alloys as his top pick, and remains positive on Astral over the long term despite near-term challenges.
IIFCL plans $1 billion loan from overseas investors; in talks for $400 million ADB funding
India Infrastructure Finance Company is set to secure a substantial $1 billion foreign-currency loan, potentially its largest to date, and is also in talks with the Asian Development Bank for an additional $400 million. This move follows recent Reserve Bank of India measures designed to bolster dollar inflows and support the rupee.
Stocks to buy below ₹100: Mehul Kothari of Anand Rathi recommends three shares to buy or sell
Next week, Bank Nifty's trading range is set between 57,000 and 59,000, with breakouts suggesting future trends. Analyst Mehul Kothari advises buying Trident, UCO Bank, and MMTC under ₹100, as the Indian market remains strong amid mixed signals and easing crude oil prices.
Reserve Bank of India issues final rules on credit derivatives
The rules will allow resident Indian non-retail users to deploy instruments such as credit default swaps and total return swaps without any restrictions on purpose, while limiting the use of these instruments by non-resident users for hedging purposes.
Reserve Bank of India issues final rules on credit derivatives
The rules will allow resident Indian non-retail users to deploy instruments such as credit default swaps and total return swaps without any restrictions on purpose, while limiting the use of these instruments by non-resident users for hedging purposes.
INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee is witnessing a pullback from sharp decline registered this week in opening trades on Thursday as oil prices are receding to near pre war levels and by taking some positive cues from local equities. INR opened at Rs 94.30 and hit a high of 94.25 far during the day. Yesterday, rupee appreciated by 11 paise to settle at 94.65 against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. However, dollar strength overseas on expectation of a near term rate hike is likely to cap any sharp gains in .
Bank of India eyes $3.5 billion foreign currency inflows on RBI's dollar push
Bank of India aims to raise approximately $3.5 billion through foreign currency deposits and overseas borrowings, leveraging recent RBI measures. This strategic move, including $1 billion from FCNR(B) deposits and $1.5 billion via concessional swap facilities, is expected to reduce borrowing costs by 50-60 basis points.
INR stays hammered as dollar stands tall on hawkish Fed
The Indian rupee continues to stay pressured against the dollar in opening trades on Wednesday, tracking firm dollar overseas. Mildly positive start to local equities and easing oil prices are unable to support rupee that is hammered by gains in DXY on the back of a hawkish dollar overseas. INR opened at Rs 94.88 per dollar and hit a low of 94.93 so far during the day. Yesterday, the counter settled at 94.76. The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity.
Banks can offer loans for FCNR (B), rebook deposits, RBI clarifies
Indian banks can now lend against FCNR(B) deposits, with the RBI offering forex swaps only on the principal amount. This move aims to attract dollars by absorbing currency hedging costs for banks, boosting FCNR(B) rates to 6-7.1%. The central bank also clarified rules for stand-by letters of credit and introduced a swap facility for external commercial borrowings, easing dollar hedging for businesses.