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INR settles lower amid risk-averse investor sentiment
The Indian rupee depreciated by 14 paise to close at 94.65 (provisional) against the US dollar on Tuesday, as a strengthening greenback overseas and risk-averse investor sentiment weighed on the local unit. The dollar index shifted back above 101 mark on Tuesday after a slight pull back below the levels in the previous session. Elevated expectation for a Federal interest rate hike is seen lending consistent support to the greenback. Markets are staying cautious around 101 mark surrounding the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday. Markets will also look forward to resumption of US-Iran peace talks in Doha that could help ease inflation concerns. The rupee briefly slipped to 95.55 against the US dollar as per CCIL data, driven by month-end corporate import demand and lingering risk-off sentiment. However, relatively stable global crude prices and anticipated central bank interventions supported the currency and restricted the ...
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.
RBI flags AI stock boom as financial stability risk, says Indian banks remain resilient
India's central bank has identified soaring AI stock valuations globally as a financial stability risk, warning of potential market spillovers. Despite this, the Reserve Bank of India asserts that India's banking system remains robust, well-capitalised, and resilient to external shocks. Strong macroeconomic fundamentals and healthy balance sheets in both banks and non-banking financial companies provide a solid foundation, limiting the impact of global financial stress on the domestic economy.
Bad loans may edge up to 1.9% by FY28 despite resilient banks: RBI
Indian banks are projected to see a slight increase in bad loans to 1.9% by March 2028, yet the system remains robust with strong capital and healthy profits. The Reserve Bank of India's report highlights resilient balance sheets and improving credit growth. Despite global uncertainties, the financial sector, including NBFCs, is well-positioned to absorb shocks, though AI cyber threats demand increased vigilance.
South Korea's KVIC courts Indian venture funds as allocation evolves to a more structured strategy
South Korean institutional investors and government funds like KVIC are scouting for partnerships with Indian VC firms, signaling a strategic shift toward funding India’s deeptech and advanced manufacturing sectors amid global supply chain diversification.
RBI's new funding rules deal 'body blow' to Indian prop trading firms
From July 1, bank guarantees used in capital markets must be fully backed by collateral, a move expected to reduce leverage and raise funding costs
Canara Bank, Bank of Baroda, Indian Bank pay ₹7,023 cr dividend to govt for FY26
Canara Bank, Bank of Baroda and Indian Bank pay ₹7,023 crore dividend to Government of India, highlighting strong growth and support for Viksit Bharat.
Stocks in news: Bajaj Auto, ZEE, BPCL, HDFC Bank, HUL, Tata Motors CV
Indian markets saw a subdued trading session on Monday, with key indices declining due to mixed global signals and profit-taking. Several prominent companies like Bajaj Auto, ZEEL, BPCL, HDFC Bank, and HUL are in focus today due to significant corporate developments. These include share buybacks, foreign investments, leadership appointments, and strategic acquisitions, signaling active corporate maneuvering amidst market fluctuations.
Indian AC makers eye Europe as record heatwaves spark export opportunity
Indian air-conditioning manufacturers are increasingly attracted to the European market as they respond to rising demand driven by intense heatwaves and climate change awareness. Competing against lower-cost Chinese and South Korean brands is challenging, yet Indian companies are poised to comply with strict European regulations.
Churn at private banks' finance function, 2 CFOs quit
A significant reshuffle is underway in the finance departments of major Indian banks. Axis Bank and Bandhan Bank have seen their Chief Financial Officers resign, sparking speculation about future leadership. This follows another high-profile departure from HDFC Bank. Industry insiders suggest a potential move for one CFO to HDFC Bank, while another might step into the Axis Bank role, creating an unusual churn ahead of financial results.
Canara Bank, Bank of Baroda, Indian Bank pay Rs 7,023 cr dividend to govt for FY26
Three public sector banks, Canara Bank, Bank of Baroda, and Indian Bank, collectively disbursed Rs 7,023 crore in dividends to the government for the 2025-26 fiscal year. Canara Bank contributed Rs 2,397 crore, BoB Rs 2,811 crore, and Indian Bank Rs 1,815.05 crore. These payouts underscore the banks' robust financial performance and their dedication to national development goals.
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.