4:10 PM
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The Reserve Bank of India (RBI) is likely to cut interest rates further after a temporary pause, potentially injecting more liquidity in the latter half of fiscal year 2025-26, according to an Angel One report. With the FY26 inflation forecast lowered to 3.7 per cent and May's CPI inflation dropping to 2.
3:10 PM
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CareEdge Ratings anticipates a slight increase in Indian banks' NPAs by FY26's first half, driven by rising stress in retail loans, particularly unsecured personal and microfinance. Despite overall asset quality improvements in recent years, private banks face higher slippages due to unsecured lending. Increased retail lending amid subdued corporate credit demand poses potential risks to asset quality.
6:10 PM
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The Central Bureau of Investigation has charged eight people in a Schengen visa fraud. This includes a law officer at the French Embassy in New Delhi. The accused allegedly took bribes to approve visa applications. The CBI claims the fraud occurred between January 2021 and May 2022. Illicit funds were channeled through bank accounts.
3:10 PM
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The PM-Kisan scheme provides Rs 6,000 annually to eligible Indian farmers in three installments. The 20th installment is expected around June 20, 2025, but official confirmation is awaited. To receive it, farmers must complete eKYC, link Aadhaar to their bank accounts, and also verify beneficiary status on the PM-Kisan portal.
10:10 AM
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Stock market recommendations: Bajaj Broking Research suggests a positive outlook for the Indian stock market on June 13, 2025, highlighting Sterling and Wilson Renewable Energy, and Prince Pipes and Fittings as top stock picks. Nifty is expected to find support around 24,600-24,700, potentially reaching 25,300-25,500, while Bank Nifty aims for 57,000-57,700, supported by positive market internals.
4:10 AM
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7:10 AM
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SBI is bolstering customer service by hiring 13,455 junior associates as part of a larger recruitment drive. The bank is also focusing on customer satisfaction through real-time measurement tools and has increased claim settlement limits for heirs to ₹15 lakh. Despite the hiring spree, the overall employee count is expected to rise marginally to 2.36 lakh by March 2025.
6:10 AM
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National Securities Depository is moving forward with its IPO plans, aiming to raise approximately $400 million. The offering, cleared by Sebi last October, is expected to launch as early as July. Major investors like IDBI Bank, NSE, and SBI are participating in the offer for sale, with NSDL not receiving any proceeds from the IPO.
5:10 PM
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NBFCs surpassed commercial banks in credit growth during FY25, fueled by a surge in the Gold NBFC segment, reaching a 20% increase. While the overall sector saw improved efficiency and asset quality, Microfinance Institutions experienced a significant profit decline and rising NPAs. Larger NBFCs are diversifying funding sources, with lending increasingly focused on personal consumption and vehicle loans.
7:10 AM
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FM Nirmala Sitharaman urged financial regulators to expedite the return of unclaimed assets from banks, insurers, and mutual funds. The focus is on simplifying asset recovery, especially for NRIs, PIOs, and OCIs, through coordinated efforts like district-level outreach camps. The FSDC also discussed cybersecurity enhancements and expanding financial inclusion through factoring services and account aggregators.
12:10 PM
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With declining bank fixed deposit rates following RBI's repo rate cuts, retail investors are increasingly turning to corporate bonds for higher yields. State-guaranteed securities, NBFC bonds, and small finance bonds offer attractive returns, facilitated by online platforms.
8:10 AM
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The RBI is considering stricter regulations to combat the mis-selling of financial products, particularly when customer suitability is ignored, as this erodes trust in the financial system. To address this, the central bank plans to enhance disclosure norms, implement stricter product suitability frameworks, and mandate audits of sales processes.
7:10 AM
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6:10 AM
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Despite Vijay Mallya's claims of settling his debts, the government and banks assert that he still owes a substantial amount. While banks have recovered Rs 10,815 crore from Kingfisher Airlines' dues, a gap of Rs 6,997 crore remains. Mallya's assertions appear to consider only the principal amount, neglecting accrued interest and penal charges, as lenders continue recovery efforts.
5:10 AM
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Following the RBI's repo rate cut, public and private sector banks are adjusting lending rates. Existing borrowers with floating-rate loans are poised to benefit more due to automatic rate reductions. Banks are tweaking spreads on home loans and may lower fixed deposit returns to protect profitability, potentially impacting new borrowers and savers.
7:10 PM
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Indian equity markets witnessed a surge last week, with nine of the top ten most-valued companies adding over Rs 1,00,850 crore to their market capitalization. Reliance Industries and HDFC Bank led the rally, while TCS was the only firm to see a decline. The positive sentiment reflects investor confidence ahead of key economic data, boosting major firms' market worth.
5:10 PM
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Bank of Baroda has reduced its repo-linked lending rate by 50 basis points to 8.15%, effective June 7, following the Reserve Bank of India's policy rate cut. This move aims to make loans more affordable for homes, cars, and businesses, potentially boosting credit demand. The rate cut aligns with the bank's commitment to support customers with affordable credit.
12:10 PM
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Sakshi Gupta, a former ICICI Bank relationship manager in Kota, was arrested for a multi-crore fraud spanning two years. She illicitly accessed over 110 customer accounts, diverting funds into stock market investments and breaking fixed deposits. The fraud, discovered after an internal probe, involved unauthorized overdrafts, debit card usage, and a fraudulent personal loan, leading to significant financial losses for customers.
8:10 AM
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T Rabi Sankar, Deputy Governor of the Reserve Bank of India, has been appointed as a part-time member of the 16th Finance Commission, according to the Finance Ministry. This appointment follows the resignation of Ajay Narayan Jha, a full-time member, due to personal reasons. Sankar will serve until the Commission submits its report or until October 31, 2025.
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