RBI
RBI sold about $7 billion to defend rupee on Friday
India's central bank sold approximately $7 billion to defend the rupee. The Reserve Bank of India intervened across markets as the currency neared a record low. This intervention followed a surge in crude prices impacting Asian oil importers. The RBI's actions helped lift the rupee further away from its all-time low. Foreign exchange reserves are rising, providing ammunition for future currency defense.
Govt companies request RBI to extend concessional forex swap by three months
Public sector firms want the RBI's forex swap facility extended by three months. This facility helps government companies hedge dollar costs for external borrowing. Banks have already mobilized over twenty billion dollars through this special swap scheme. The inflow of dollars is expected to ease pressure on the Indian rupee. This concessional hedging cost supports government companies opting for ECBs.
RBI to hold rates through 2026 as growth risks outweigh inflation: Poll of economists
Economists predict the Reserve Bank of India will maintain its key interest rate at 5.25% through year-end. This decision comes as the central bank assesses war impacts and current price pressures. Inflation has risen above the target, but a rate hike is considered premature by officials. The RBI will likely avoid using interest rates to defend the weakening rupee. India's economic growth is forecast to slow to 6.
RBI gives banks more time to implement bulk deposit rate norms, deadline now Oct 1
Banks now have until October 1 to implement new differential interest rate rules. These norms allow varied rates on bulk deposits considering liquidity coverage ratios. The Reserve Bank of India has extended the implementation deadline after bank feedback. Rates for deposits under Rs 3 crore remain outside these new stipulations. Banks must now disclose bulk deposit rates online by 10:00 am daily.
RBI's FCNR, forex schemes draw $40.81 billion in inflows so far
Significant capital inflows have been recorded, thanks to the proactive measures taken by India's central bank. The Reserve Bank of India facilitated a total of $40.81 billion in foreign exchange influx, of which $36.7 billion derived from Foreign Currency Non-Resident deposits. Support also came through swap facilities for External Commercial Borrowings and Overseas Foreign Currency Borrowings, showcasing the sound financial strategies in place.
Plastic notes in India coming soon: Why govt wants polymer banknotes, which countries use them and how these currencies help
Why is RBI introducing plastic notes?The government's approval for RBI polymer notes has renewed focus on why RBI plastic notes are needed. Polymer banknotes last two to six times longer than paper Indian currency, reduce printing and replacement costs, improve durability, lower environmental impact and are already used by more than 60 countries, including the UK, Canada and Australia.
RBI likely to hold repo rate at 5.25%, market to focus on policy guidance: Nuvama
The Reserve Bank of India will likely keep its repo rate unchanged at 5.25 percent. Policymakers are expected to adopt a cautious wait-and-watch approach for now. Inflation risks remain elevated due to supply chain and oil price concerns. Financial conditions have tightened, reducing the immediate need for rate action.
India's forex reserves rise by $6.1 billion to two-month high of $682.35 billion as of July 24
India's foreign exchange reserves saw a significant rise of $6.1 billion. This increase brought the total reserves to $682.35 billion as of July 24. Previously, reserves had grown by $1.08 billion in the preceding week. Earlier this year, reserves reached a record high of $728.494 billion. However, reserves declined due to Middle East conflict and RBI interventions.
RBI issues revised Basel Pillar 3 disclosure framework for commercial, small finance and payments banks
The Reserve Bank of India has revised its Basel Pillar 3 disclosure framework. These amendments aim to strengthen market discipline through more comprehensive public disclosures. Banks must now provide detailed information on capital and risk exposures. A formal disclosure policy approved by boards is also required. Further templates for specific risks will be issued later.
Forex kitty grows $6 billion as dollar count rises
India's foreign exchange reserves saw a significant rise of $6.1 billion. This increase occurred in the week ending July 24, reaching $682.3 billion. Inflows from the RBI's FCNR(B) deposit scheme contributed to this growth. Gold reserves also experienced an increase of $1.3 billion. Despite dollar sales, reserves grew due to these incoming funds.
Delhi High Court orders winding up of Paytm Payments Bank after RBI licence cancellation
Paytm Payments Bank Limited is set for closure as per the directive from the Delhi High Court, resulting from the Reserve Bank of India's earlier cancellation of its banking license. Reasons cited include failure to meet compliance regulations and negative impacts on depositors. Now, with Girikumar M Nair named as the official liquidator, he will step in to lead the bank's liquidation process.
$32 billion inflows from India's forex drive yet to boost rupee
India's special measures have attracted $32 billion in foreign currency inflows, but the boost has yet to significantly strengthen the rupee or ease banking system liquidity. While borrowing costs have declined, the RBI's foreign currency assets have risen more slowly as markets await the full impact of the inflows.
RBI reiterates Indian economy remains resilient, but Iran war, deficient monsoon could pose risks to outlook; will there be rate change in August?
The RBI is widely expected to keep interest rates unchanged at its 5 August policy meeting, making it one of the few central banks in the region that has not changed policy in response to the Middle East conflict. Governor Sanjay Malhotra has indicated that the policy rate is likely to remain at 5.25%, unless price pressures become broader.
Barclays sees RBI holding rates in Aug policy as FCNR(B) inflows ease rupee concerns
In the forthcoming monetary policy meeting, the Reserve Bank of India is likely to maintain the current interest rates. The recent surge in foreign capital has mitigated fears surrounding the rupee's performance. However, sustained inflation levels pose a significant challenge for the bank's decisions. The current geopolitical landscape and the impacts of El Nino necessitate a cautious approach, with close attention to inflation metrics and oil price fluctuations.
Govt approves RBI's trials of ₹10, ₹20 polymer notes; no plan to replace paper currency
The government has approved the Reserve Bank of India's proposal for polymer banknotes. One billion pieces each of ten and twenty rupee polymer notes will undergo field trials. These new notes are expected to be more durable and have a longer lifespan. The introduction of polymer notes is still in a preliminary phase.
Rupee posts strongest week since March on RBI support
The Indian rupee finished Friday on a strong note, marking its most significant weekly increase since March, thanks to continuous support from the central bank amidst a weakening dollar. Heightened tensions in the Middle East have driven oil prices upward, influencing the rupee's monthly trends. Likewise, India's IT sector demonstrated impressive growth this month, outshining the overall market.
Loan growth remains strong, shows latest RBI sectoral data
Banking credit to industries showed robust growth, increasing 19.2 percent year on year. Personal loan growth also remained strong, rising 16 percent compared to last year. Medium enterprises experienced the fastest credit growth, surging 30 percent year on year. Petroleum, coal products, and gems and jewellery sectors saw significant expansion. Loan against gold jewellery emerged as the fastest growing personal loan segment.
Rupee logs best day in over 6 weeks as RBI intervention magnifies oil slump impact
On Monday, the Indian rupee experienced its most remarkable trading day in over six weeks, thanks to decisive actions from the central bank and a notable decrease in oil prices. Opening at 96.1475, it surged to a high of 95.7950. The decline in oil prices was further fueled by a cessation of military attacks between the U.S.
RBI asks banks to install fake currency detection machines at branches along international borders
The Reserve Bank of India has directed banks to enhance counterfeit note detection. Branches near international borders must now have note authentication machines. All cash handling staff will receive training on security features by October 2026. Banks must analyze fake note data to identify trends and hotspots. This initiative aims to strengthen the identification and reporting of fake currency notes.
India sees dollar deposit deluge on FCNR(B) wave
FCNR(B) deposits accounted for $36.72 billion of the inflows, exceeding the $26 billion mobilised under a similar scheme in 2013, in less than two months after the current window opened on June 8.
Indian companies are about to raise prices, putting RBI's inflation outlook to test
Indian companies are preparing for price increases on various products soon as commodity costs rise due to ongoing global conflicts. Consumers can expect higher prices for everyday items ranging from toothpaste to tires. Demand is expected to remain stable during the upcoming festival season. Policymakers are closely monitoring inflation pressures and their impact.
Gold pulled India back from the edge of crisis 35 years ago
Thirty-five years after India pledged 67 tonnes of gold to avert a balance of payments crisis, the episode remains one of the defining moments in the country's economic history. The emergency gold airlift bought crucial time for the landmark 1991 economic reforms that transformed India from a licence-permit economy into one of the world's fastest-growing major economies.
Foreign capital inflows hit $32 billion as FCNR(B) deposits break 2013 record
India has attracted nearly $32 billion in foreign capital since the RBI announced special inflow measures on June 5, Governor Sanjay Malhotra said. FCNR(B) deposits have already exceeded the 2013 record, but strong dollar demand linked to costly oil imports and weak exporter hedging continues to keep the rupee near record lows.
HDFC Bank fines CEO, CFO ₹1 lakh each after MSRDC review finds 'business overreach'
HDFC Bank has taken disciplinary action against certain employees after finding them guilty of business overreach related to deposit arrangements. As a result, three senior executives received both warning letters and a monetary penalty of one lakh rupees. This decision stemmed from an independent review, confirming no personal gain was sought. However, discrepancies with RBI directives raised concerns, prompting the bank to implement these measures.
Rupee hits day’s low against US dollar, recovers on RBI support
The Reserve Bank of India's interventions prevented the rupee from falling to a new record low. State-run banks sold dollars, and foreign investor inflows aided the currency's recovery. High oil prices and importer demand put pressure on the rupee throughout the day. Brent crude prices retreated after topping one hundred dollars a barrel. The rupee closed little changed, recovering from its intraday low.
Indian Oil raises $500 mn under RBI's concessional forex swap window, eyes more
Indian Oil Corporation secured five hundred million dollars through a special Reserve Bank of India swap facility. This concessional forex swap encourages state-run companies to increase dollar inflows into India. The company raised these funds via a five-year external commercial borrowing last week. Indian Oil's borrowings increased significantly for selling fuels below market rates. The refiner maintains sufficient crude oil reserves for forty-five days.
India may see up to $85 billion in forex inflows after RBI's FCNR move: Report
India anticipates substantial Foreign Currency Non-Resident deposits, possibly reaching eighty to eighty-five billion dollars. Public sector banks are leading this significant mobilization effort, exceeding previous records. FCNR(B) deposits have already reached seventeen point forty-one billion dollars by mid-July. Higher interest rates are expected to encourage renewals of maturing FCNR deposits. This influx will bolster foreign currency assets, reflecting positive economic trends.
SBI ordered to refund nearly Rs 2 lakh after online fraud as customer said he never shared his ATM PIN, OTP or banking details
A consumer commission has directed the State Bank of India (SBI) to refund Rs 1.64 lakh to a customer who lost money in an unauthorised online banking transaction. The commission ruled that the bank failed to prove any negligence on the customer's part and also ordered SBI to pay Rs 15,000 as compensation for harassment and Rs 10,000 towards litigation costs. It found the bank's investigation to be inadequate and unsupported by technical evidence.
HSBC wins $5.5 billion of NRI deposits via leveraged strategy
HSBC has mobilised about $5.5 billion in non-resident Indian deposits by offering highly leveraged loans under the RBI's FCNR(B) window, outpacing global rivals. The strategy has helped attract diaspora wealth, contributing to the roughly $32 billion raised by Indian banks through foreign currency deposits.
JC Flowers Asset Reconstruction Company in talks to merge into Assets Care
JC Flowers Asset Reconstruction Company is in talks to merge with ACRE. This move would create one of the largest bad-loan aggregators in India. The two companies are in advanced discussions for a stock-swap deal. JC Flowers would wind down its India operations and surrender its license. A formal proposal is expected to be submitted to the RBI soon.
PNB profit to cross Rs 20,000 cr mark in FY27: MD Ashok Chandra
Punjab National Bank expects its FY27 net profit to exceed ₹20,000 crore after delivering more than ₹5,000 crore in quarterly profit for four consecutive quarters, Managing Director and CEO Ashok Chandra said. The lender also plans to enter acquisition financing from the third quarter following the RBI's revised guidelines.
Delhi HC orders winding up of Paytm Payments Bank, appoints former SBI official as liquidator
The Delhi High Court has issued a ruling for the liquidation of Paytm Payments Bank Ltd, following the Reserve Bank of India's decision to annul its banking license due to major concerns regarding management practices and regulatory compliance. An official liquidator will oversee the bank's dissolution, but it is important to note that this action does not impact other Paytm services.
FCNR deposits from Indian diaspora in UAE come in big; some say flow could be bigger
UAE is poised to spearhead India's special FCNR(B) deposit scheme, with enticing dollar rates and beneficial tax incentives attracting considerable client interest. Bank officials project that more than ten billion dollars have already been sourced from the UAE. Although operational limitations for bank representatives create hurdles, the robust Indian expatriate community plays a vital role in enhancing contributions to this initiative.
RBI, govt measures could turn India's balance of payments surplus, ease pressure on rupee: HDFC
Recent policy measures may shift India's balance of payments to a surplus. These actions aim to attract significant capital inflows and strengthen the external position. The Reserve Bank of India's initiatives are expected to boost foreign currency deposits. Government securities are becoming more accessible for foreign investors. These developments could ease pressure on the Indian rupee.
Saturday bank holiday: Are banks open or closed today on August 1, 2026? Check if HDFC Bank, SBI, PNB and others are open
All scheduled and non-scheduled banks observe holidays on the second and fourth Saturdays. Banks remain open on the first, third, and fifth Saturdays unless a holiday is specified.
Rupee ends nearly flat at 95.68 vs USD, wedged between oil swings, RBI intervention
On Thursday, the Indian rupee remained stable, closing at approximately 95.68 against the dollar. The currency faced pressure due to fluctuating oil prices and heightened demand for dollars from corporations. However, intervention from the central bank likely prevented it from falling past the critical 96 level. Traders mentioned that importer hedging also played a role in the rupee's recent depreciation, while global economic influences continue to bolster the dollar's strength.
Kotak Mahindra Bank taps HSBC and CTBC for $600-million overseas loan
Kotak Mahindra Bank plans a $600 million loan from HSBC and CTBC Bank. Bank of India also secured $600 million through a dual-tranche term loan. These foreign currency facilities aim to attract dollars into India. The funds will likely support overseas clients making FCNR (B) deposits. This move leverages a special swap facility from the Reserve Bank of India.
Banking liquidity hits lowest since June 29; RBI data reveals Rs 2,884 crore deficit
Mumbai banking system liquidity has fallen to its lowest point since late June. This deficit is attributed to increased credit growth and central bank foreign exchange market actions. System liquidity experienced a deficit of ₹2,884 crore on Wednesday. The Reserve Bank of India's intervention is expected to worsen this liquidity gap. Economists anticipate further deficits in the coming days due to these factors.
No proposal for one-time waiver of loans of small, marginal farmers: MoS Finance
The government has no current proposal for a one-time loan waiver for farmers. The Reserve Bank of India offers financial restructuring options for distressed borrowers. The government has approved a proposal for polymer banknotes in Rs 10 and Rs 20 denominations. These polymer notes will have a longer lifespan than paper currency. The Emergency Credit Line Guarantee Scheme has issued over five lakh guarantees.
UAE’s top bank to offer $1.5 billion for NRIs investing in RBI's forex deposit program
First Abu Dhabi Bank is offering up to $1.5 billion in financing to non-resident Indians investing in India's foreign-currency deposit scheme, using leverage backed by standby letters of credit. The move supports the RBI's drive to boost forex reserves, with analysts estimating the programme could attract as much as $50 billion in deposits.
Easebuzz FY26 revenue rises 10% to Rs 723 crore; profit drops 41%
Profit after tax fell 41% to Rs 11.15 crore from Rs 18.77 crore in FY25. The value of payments processed by the company, however, rose about 67% to nearly $50 billion from around $30 billion, while gross profit increased 51% to Rs 227 crore from roughly Rs 150 crore, the company said.
RBI sold $6.1 bn in May as oil weighed on the rupee and foreign inflows showed signs of revival: Bulletin
The Reserve Bank of India sold six point one billion dollars in May. This intervention occurred amid global market volatility and geopolitical tensions. India's external sector remains steady with improving foreign investment inflows. The domestic economy navigated uncertainties well, supported by strong demand. Foreign exchange reserves are comfortable, covering over ten months of imports.
India bonds tiptoe along ahead of Fed meet; oil prices weigh
Indian government bonds traded range-bound early Wednesday as investors awaited the Fed's rate decision. Oil prices climbed, reviving concerns about the Gulf conflict and global economic impact. The Reserve Bank of India's policy decision is due next week, with rates expected to remain unchanged. India's financial conditions have tightened recently due to oil price surges. Economic growth is expected to slow while inflation surpasses the central bank's target.
Weak investments, higher oil prices to slow India's GDP growth to 6.6% in FY27: Poll
India's economic growth is projected to slow significantly this fiscal year. Private investment remains weak, and higher oil prices will impact domestic demand. Economists suggest official figures may overstate the economy's true underlying strength. Companies hesitate to expand capacity due to demand uncertainty and global factors. The Reserve Bank of India faces challenges balancing growth and inflation pressures.
Foreign banks account for lion's share of FCNR(B) inflows under RBI's concessional swap facility
Foreign banks have facilitated most FCNR(B) deposits under the RBI's swap facility. This concessional swap facility has attracted over twenty billion dollars in total inflows. FCNR(B) deposits accounted for seventeen billion dollars of these significant inflows. Some large state-owned and private banks also hold a substantial share. The facility aims to strengthen India's balance of payments and forex liquidity.
RBI likely used dollar deposit surge to cut record FX forward book, economists say
Reserve Bank of India likely used deposit inflows to reduce its forward book. This action helped the central bank manage its near-term dollar obligations effectively. Economists suggest this strategy offset short-dollar positions in the forward market. Inflows attracted over twenty billion dollars, with most from foreign currency deposits. June data will provide further evidence of this reduction in forward liabilities.
More banks may join overseas bond run
ICICI Bank's $1 billion dollar bond sale via GIFT City, which drew strong global investor demand and secured lower borrowing costs, is expected to spur more Indian lenders to tap overseas debt markets under the RBI's subsidised hedging facility.
RBI Deputy Governor Swaminathan J asks regulated entities to review internal grievance redressal processes
RBI Deputy Governor Swaminathan J stressed reviewing internal grievance redressal processes. He asked regulated entities to design complaint management systems carefully. These systems should prevent complaints from bypassing the Internal Ombudsman. Technology has transformed financial services and customer expectations significantly. Institutions must strive for faster and more transparent grievance resolution.
Rupee strengthens as crude oil prices fall
The Indian rupee strengthened against the dollar on Tuesday, closing at 95.84 per dollar. This gain followed a sharp rise on Monday, supported by falling Brent crude prices. Dollar sales by the Reserve Bank of India also bolstered the currency's positive momentum. However, a firm dollar index ahead of the US Fed meeting limited further upside. The rupee is expected to trade between 95 and 96 on Wednesday.
India's forex reserves rise $1.08 billion to $676.237 billion in week ended July 17
In a notable development, India's forex reserves have increased by over one billion dollars, driven primarily by a growth in foreign currency assets. On the downside, the value of gold reserves has seen a significant decline. Additionally, Special Drawing Rights have experienced a minor upward adjustment, while the reserve position with the IMF has faced a small downturn.
Bank credit to industry up 19%, personal loans stay strong
Banking credit to industry saw a robust 19% year-on-year increase. Personal loan growth also remained strong, expanding 16% compared to last year. Loans against gold jewellery surged by 93%, leading personal loan segment growth. Vehicle loans followed with a 17% expansion, while credit card growth decelerated. Education loans maintained strong growth at 13% year-on-year.
PNB raising $1 billion for FCNR on-lending
Punjab National Bank is set to secure a substantial one billion dollars through a five-year loan arrangement. This initiative is being coordinated with international financiers to enhance participation. The loan will be eligible for the Reserve Bank of India's special swap facility. Indian banks are eager to tap into dollar funds to capitalize on overseas client deposits, targeting potential leveraged investors in the forex-deposit program.
Maldives launches Favara-UPI payment service with India
Maldives has launched real-time fund transfers to India using UPI. This integration connects Maldives' Favara system with India's popular payment platform. Individuals can now send money instantly to UPI-enabled accounts in India. This initiative strengthens digital financial connectivity and bilateral economic cooperation. Future phases will introduce more cross-border payment solutions.
RBI sold $6 billion in May to defend oil-hit Indian rupee, data shows
The Reserve Bank of India sold $6.1 billion in foreign exchange during May. This intervention occurred as oil prices surged, pushing the rupee to a record low. The central bank also implemented policy measures to encourage dollar inflows into India.
HDFC Bank, Axis Bank collect highest penalties from customers for non-maintenance of minimum average balance; Bank of Baroda tops public sector bank list
HDFC Bank, Axis Bank, and Bank of Baroda collected the most penalties for low balances. Public sector banks collected these charges from FY 2021-22 to FY 2025-26. Private sector banks collected penalties from FY 2022-23 to FY 2025-26. Most public sector banks have now withdrawn these charges for savings accounts. Zero-balance accounts like Jan Dhan Yojana accounts are exempt from such penalties.
Macroeconomic fundamentals of Indian economy remain strong amid global challenges
India's economy shows strong macroeconomic fundamentals and a resilient financial system. Robust domestic demand and healthy corporate balance sheets support sustained economic growth. The Indian Rupee has depreciated against the US Dollar due to global events. Regional Rural Banks and Public Sector Banks have reported record profits. Government initiatives aim to support businesses and financial inclusion across the nation.
Deposit rates rise as banks fight for funds
Banks increased fresh term deposit rates in June, led by private lenders. The average domestic term deposit rate rose to 5.99% for scheduled commercial banks. Private banks saw a significant 27 basis point increase in their deposit rates. Public sector banks also raised rates by 7 basis points. Their average deposit rate remained higher than private sector offerings.
UCO Bank plans $500-million overseas fundraise
UCO Bank plans to raise $500 million through foreign currency deposits and overseas borrowings. This move joins other lenders accessing the central bank's concessional funding window. The facility has already attracted over $32 billion in foreign currency inflows. Non-resident deposits have been the primary driver of this significant mobilization. This initiative aims to strengthen India's foreign exchange reserves effectively.
RBI intervention blunts oil surge, shores up rupee
The Reserve Bank of India intervened by selling dollars to prevent the rupee from reaching a record low. Surging oil prices and declining stock markets are currently pressuring the Indian currency. Geopolitical tensions in the Middle East are contributing to higher crude oil prices globally. India, heavily reliant on oil imports, faces significant economic challenges from these price increases.
Rupee gains 30 paise to touch monthly high
The Indian rupee closed at 95.38 on Friday, strengthening significantly. Persistent Reserve Bank of India interventions and lower oil prices aided this currency gain. The local unit traded within a narrow range during the trading session. A weaker dollar index also contributed to the rupee's upward movement. Analysts expect continued support for the rupee at lower levels.
SBI, HDFC Bank seek $1.7 billion overseas to boost dollar resources
State Bank of India and HDFC Bank are raising significant dollar funds. These large Indian banks are borrowing from foreign institutions to boost reserves. The banks aim to leverage the Reserve Bank of India's special dollar attraction facility. This move allows them to attract overseas client deposits without hedging costs. Both institutions are actively participating in the international dollar funding market.
Rupee clings to two-week high as oil slides, intervention helps cement rise
The Indian rupee experienced a significant rebound on Tuesday, intensifying to its strongest position in two weeks. The decline in oil prices and the potential intervention by the central bank played crucial roles in this uplift, with state-run banks actively selling dollars to stabilize the currency. The Reserve Bank of India showed its commitment through daily interventions since Friday, signifying its intolerance for further currency dip.
RBI asks banks to clear old trade and payment mismatches
The RBI has asked banks to resolve long-pending mismatches between trade and payment records worth thousands of crores. Banks must verify documents and transactions to regularise genuine export-import cases. Clearing old EDPMS and IDPMS entries could improve compliance, prevent businesses from being flagged and ensure more accurate trade data.
More banks may join overseas bond run after ICICI Bank’s bumper dollar bond sale
ICICI Bank successfully raised one billion dollars through its inaugural dollar bond sale. This strong investor demand allowed the bank to double its initial offering size. The successful transaction signals confidence in Indian bank credit from global investors. Other lenders are now preparing to raise dollar bonds using a subsidized hedging facility. This initiative aims to lower borrowing costs and support capital inflows into India.
Government sets up India Digital Payment Intelligence Corp to contain cyber frauds
India Digital Payment Intelligence Corporation has been established to combat cyber financial frauds. This new entity will share real-time fraud intelligence and alerts with financial institutions. The government is strengthening cybersecurity measures for financial institutions across the country. CERT-In has set up a National Cyber Coordination Centre for threat monitoring. A nodal Computer Security Incident Response Team for the financial sector is also operational.
The future of personal loans is pay for what you need
Traditional loans assumed fixed needs, but modern financial requirements are often incremental. Borrowers now seek flexibility to access funds as and when they are needed. Products offer withdrawals from approved amounts, paying interest only on utilized funds. This evolution reflects a move towards adaptable credit solutions for changing financial lives. The future of borrowing will prioritize intelligent, precise fund access over fixed loan amounts.
Govt extends IFSC Authority Chairman K Rajaraman's tenure till Oct 2028
K Rajaraman's term as IFSCA Chairman has been extended by 27 months. He will continue in this role until July 31, 2026, or his 65th birthday. Rajaraman, who previously served as Secretary in the Department of Telecommunications, was first appointed in 2023. The International Financial Services Centres Authority was established in April 2020. IFSCA regulates financial products and institutions within India's International Financial Services Centre.
RBI clears Areion's Rs 936-crore Aviom acquisition
The Reserve Bank of India has approved Areion Group's acquisition of Aviom India Housing Finance. This approval clears a significant regulatory hurdle for the proposed Rs 936-crore deal. Areion Group promoter Manish Lalwani also received necessary fit-and-proper approval from the regulator. The resolution process will now proceed to the National Company Law Tribunal for final approval. This acquisition brings Areion Group a step closer to completing the transaction.
EbixCash becomes first non-bank entity to get RBI nod for trade remittances
EbixCash secured a perpetual Authorised Dealer Category-II licence from the Reserve Bank of India. This licence allows the company to handle trade and family remittances, previously a bank-dominated segment. The expanded powers enable EbixCash to directly serve small and medium enterprises engaged in international trade.
FCNR(B) surge: Inflows through special window to ease banks’ liquidity pressure
In the first quarter of FY27, revised liquidity coverage ratio (LCR) norms came into effect, reducing the assumed run-off rate on deposits from non-financial entities such as trusts, limited liability partnerships (LLPs), and partnerships to 40% from 100% earlier. The change lowered projected 30-day cash outflows for banks, providing flexibility to the LCR mandate.
RBI Intervention shields rupee in face of oil, hedging strain
On Friday, the Indian rupee dodged a plunge to record lows thanks to decisive action by the Reserve Bank of India. State-run banks stepped in to sell dollars, likely under central bank directives, to alleviate mounting pressure. Escalating oil prices and increased corporate hedging had nearly pushed the currency to historic lows.
External sectors steady despite geopolitical uncertainties: RBI
India's external sector shows steady improvement, boosted by foreign investment inflows. The economy remains strong despite global uncertainties and trade disruptions. Foreign exchange reserves provide ample cover for imports and external debt. Exports and imports saw strong growth in the first quarter of this fiscal year. Bilateral trade agreements will further enhance India's external trade momentum.
Home loan EMI, amortisation and prepayment- The mathematics every borrower in India must understand
Understanding home loan mechanics helps borrowers reduce total borrowing costs. The reducing balance method ensures interest decreases as the principal falls. Loan amortisation shows how EMIs gradually repay both principal and interest. Early prepayments significantly reduce total interest paid over the loan tenure. Repo rate changes impact floating rate home loans, influencing EMIs or tenure.
Sebi disposes of case against Religare Enterprises, Saluja, other persons
Sebi has concluded legal actions against Religare Enterprises and its former chairperson. The regulator found no further directions were needed after the open offer. Proceedings were initiated alleging Religare failed to cooperate with the mandatory open offer. The company had questioned the Burman Group's 'fit and proper' status and delayed approvals. The open offer's completion achieved the remedial objective of Sebi's proceedings.
MSME Bill introduced, looks to speed up payments
A key provision of the Bill is to strengthen the framework for addressing delayed payments, a long-standing challenge for micro and small enterprises that often strains their liquidity and disrupts business operations.
Parliament Watch: ESIC disburses Rs 5.26 crore under ABVK, 79 FEMA applications disposed of since FY22
Parliament updates: Govt launched a 3-month drive to clear 16,033 labour disputes, ESIC disbursed ₹5.26 crore under ABVKY, approved polymer note trials, and said FPI outflows reflect global trends.
RBI plans unified code for foreign investment in equity instruments
The Reserve Bank of India proposed new rules for overseas fund flows. These draft norms will replace existing regulations governing foreign investment. The framework clarifies eligible entities and defines foreign-controlled entities clearly. It also retains the distinction between direct and portfolio foreign investments. The proposed rules aim to streamline foreign investment into Indian markets.
UPI hits record Rs 29.9 lakh crore in July, 23.66 billion transactions
UPI transactions reached a new high of Rs 29.9 lakh crore in July. The volume of these transactions also saw a significant increase during the same month. This growth solidifies UPI's position as India's preferred digital payment method. UPI has expanded its operations to nearly ten international nations.
Rupee likely shielded by RBI intervention as oil surges
The Indian rupee remained largely unchanged on Thursday. Higher oil prices and central bank actions influenced its movement. Global tensions in the Red Sea and strikes on Iran escalated oil prices. These rising energy costs pose a significant risk to India's economy. The rupee's stability depends on continued foreign investment in government debt.
Rupee rises for the third day to a near 3-week high
The rupee strengthened for a third consecutive day, reaching a near three-week high. Dollar sales by foreign and state-run banks aided the local currency's climb. Sustained buying in domestic equities and positive foreign investor sentiment supported the rupee. Crude oil prices saw a modest rebound, limiting further rupee gains. The currency is expected to trade within a specific range on Thursday.
Saturday bank holiday: Are banks open or closed today on July 25, 2026?
Banks across India will remain closed on Saturday? Reserve Bank of India guidelines mandate banks close on second and fourth Saturdays. Digital banking services will remain accessible for customers throughout the day. However, certain transactions will require a visit to a bank branch.
Patchy rains may hit rural lending, banks stay cautious
Bankers are closely watching monsoon rains and their impact on rural credit. Uneven rainfall poses inflation risks for summer crops and rural incomes. A strong winter harvest offers some financial cushion for lenders. Early stress is visible in personal and micro-enterprise loan segments. Lenders may slow small-ticket loan delivery due to risk aversion.
Rupee rallies 21 paise to 96.24 against US dollar on lower oil prices and forex inflows
The rupee strengthened by twenty-one paise, closing at ninety-six point twenty-four on Tuesday. Lower oil prices reduced demand for the US dollar, supporting the local currency. Dedicated programs aimed at drawing forex inflows have garnered nearly twenty-one billion dollars. State-run banks sold dollars, providing support around ninety-six point forty-two levels. The currency traded within a narrow range throughout the trading session.
ICICI Bank eyes $500 million dollar bond issue via GIFT City
ICICI Bank is close to raising at least $500 million through five-year dollar bonds via its GIFT City unit, leveraging the RBI’s concessional swap facility. The proceeds will support client financing, marking the lender’s first US dollar bond issuance in nearly a decade.
Rupee nears record low amid rising oil prices and geopolitical risks
The Indian rupee is nearing a record low against the dollar this week. Elevated oil prices and geopolitical tensions are increasing pressure on the currency. Foreign currency inflows are helping manage the rupee around current levels. Banks have attracted significant capital through special deposit schemes. The rupee's weakness has widened again due to renewed regional hostilities.
Jana SFB reports ₹169-crore gap in FY25 gross NPAs
Jana Small Finance Bank disclosed a ₹169 crore divergence in gross non-performing assets. The bank's reported GNPAs were lower than the Reserve Bank of India's assessment. This divergence led to an additional ₹42 crore provisioning for the bank. Consequently, the bank's net profit for the fiscal year was reduced. The RBI audit identified under-reported NPAs, necessitating corrections by banks.
FCNR(B): Data show banks have raised $20.7 bn under scheme; $10 bn more may flow in
The optimism follows RBI's disclosure that banks have collectively garnered $20.7 billion under its special incentive window, a pace that has already eased earlier concerns the scheme was struggling for traction. Of the total, FCNR(B) deposits accounted for the largest share at $17.4 billion, mobilised within six weeks of the scheme becoming operational. This was followed by overseas foreign currency borrowings (OFCBs) at $2 billion and external commercial borrowings (ECBs) at $1.3 billion.
HDFC Bank spends Rs 1,316 crore on CSR in FY26, expands rural footprint
HDFC Bank invested over Rs 1,316 crore in CSR initiatives during 2025-26. Their Parivartan program has positively impacted more than 10.77 crore lives. The bank's rural development program now reaches over 11,000 villages nationwide. Border village coverage significantly increased to 498 from 298 previously. These efforts aim for inclusive and locally relevant future development.
India bonds log first monthly loss in four as surging oil, Treasury yields sting
In July, Indian government bonds faced their first monthly loss after a four-month streak of gains. The surge in oil prices and rising U.S. Treasury yields led to a drop in bond prices, prompting foreign investors to sell off their holdings as the month concluded. Attention now shifts to the Reserve Bank of India's monetary policy decision, with overnight index swap rates experiencing a noteworthy rise alongside yields.
Indian rupee gains as oil comes off; inflows, RBI intervention in focus
The Indian rupee experienced a slight upturn on Tuesday, buoyed by the prospect of improved diplomatic relations between the U.S. and Iran, which reduced oil market tensions. With strong capital inflows enhancing the foreign exchange reserves, the Reserve Bank of India reported mobilization of over twenty billion dollars. Investors are now keeping a close eye on the central bank's reserve management approach.
House panel bats for interim crypto self-regulation under RBI/SEBI oversight, stresses investor protection norms
A parliamentary committee has proposed the establishment of a self-regulatory organization for cryptocurrencies, functioning under the supervision of central regulatory authorities. This interim solution calls for the government to assess a specific legal framework for virtual digital assets. The objective is to reduce risks associated with money laundering and tax evasion, categorising regulation of these assets as a vital aspect of national security for India.
CDSL Q1 Results: Net profit rises 15% YoY to Rs 118 crore, revenue up 13%
The Indian central securities depository’s revenue from operations meanwhile increased more than 13% YoY to Rs 293 crore during the quarter under review, from Rs 259 crore reported in the year-ago period
Lower crude, firmer rupee and easing volatility drive sharp rebound in Indian equities
Indian stocks and currency surged significantly on Monday after crude oil prices collapsed. The BSE Sensex and NSE Nifty both saw substantial gains, reflecting renewed investor confidence. The Indian rupee climbed against the US dollar, nearing its all-time low from the previous week. Lower crude oil prices are beneficial for India, easing inflation and current account pressures.
India bonds slip on Fed uncertainty, war worries
On Thursday, Indian government bonds faced a decline for the third consecutive day. The rise in U.S. Treasury yields dampened enthusiasm for Indian debt instruments, while escalating geopolitical tensions from the Gulf region further affected market dynamics. Additionally, concerns about the Federal Reserve's ambiguous interest rate plans placed additional strain on bond prices. Nevertheless, measures from the Reserve Bank of India, which facilitated dollar inflows, offered some respite.
Costs and provisions down, IDFC Bank will continue to bolster earnings: V Vaidyanathan, MD & CEO
Our credit cost was 2.13% of loans including the microfinance portfolio, against a guidance of 2.10%. This year, encouraged by seeing our credit quality in the first quarter, we are targeting 50 bps lesser credit cost, say 1.5% to 1.6%, says V Vaidyanathan, MD & CEO, IDFC Bank.
Best gilt mutual funds to invest in July 2026
Gilt funds are recommended for aggressive debt investors expecting RBI rate cuts. These funds offer potential double-digit returns when interest rates begin to fall. Gilt funds invest in government securities, carrying no credit risk but high interest rate sensitivity. Investors should possess a long-term horizon and understand interest rate cycles before investing. Nippon India Gilt Fund and Bandhan Gilt Fund are among the recommended schemes.
IRDAI clears investments in private companies, eases infrastructure funding norms
IRDAI has expanded insurers' investment options by permitting investments in private limited companies, infrastructure SPV debt and repo, reverse repo and government securities lending transactions. The changes aim to improve investment flexibility and liquidity while setting exposure caps, eligibility criteria and disclosure requirements. The regulator has also revised limits for investments in promoter group companies.
Assam flood toll reaches 80, over 2 lakh people affected
Assam floods have claimed eighty lives, affecting over two lakh people in eight districts. The state government announced a six-month loan moratorium for affected citizens. Multiple agencies are actively engaged in rescue and relief operations across the region. Significant crop areas and infrastructure have been submerged and damaged by the deluge. The Chief Minister has requested a central support package for rehabilitation efforts.
