5:10 PM
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Union Bank of India reported a 12% increase in net profit, reaching Rs 4,116 crore for Q1 FY26, driven by higher interest income. While net interest income saw a slight dip, asset quality improved significantly, with gross and net NPAs declining. The bank's provision coverage ratio also rose, contributing to a stronger financial performance overall.
5:10 PM
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ICICI Bank announced a robust 15.9% YoY increase in consolidated net profit, reaching Rs 13,558 crore for the June 2025 quarter. Core net interest income also saw a rise of 10.6%, climbing to Rs 21,635 crore. The bank's asset quality improved, with the gross non-performing assets ratio falling to 1.67%.
4:10 PM
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HDFC Bank's consolidated net profit witnessed a slight dip for the June 2025 quarter. The bank reported Rs 16,258 crore. However, standalone net profit increased to Rs 18,155 crore. Total income rose significantly to Rs 99,200 crore. Provisioning saw a sharp rise to Rs 14,442 crore. The gross non-performing asset ratio also experienced a marginal increase, reaching 1.4%.
3:10 PM
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ICICI Bank reports that the Reserve Bank of India might cut policy rates due to weak urban consumption and uncertain global demand. Easing inflation could prompt a 25 basis point rate cut as early as August. The RBI's neutral stance and data-dependent approach, combined with recent economic signals, create room for monetary easing.
4:10 PM
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Indian Overseas Bank (IOB) witnessed a significant surge in net profit for the quarter ended June 2025, reporting Rs 1,111 crore, a 76% YoY increase. This growth was fueled by enhanced income and improved asset quality. The bank's gross and net NPAs also saw a reduction, contributing to a stronger financial performance, with capital adequacy ratio also improving.
9:10 AM
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Stock market recommendations: Bajaj Broking Research suggests a positive outlook for the Nifty and Bank Nifty, anticipating potential uptrends with key support levels identified. UPL and Varun Beverages are highlighted as top stock picks, with buy ranges specified based on technical analysis indicating potential breakouts and upward movement in the coming months.
7:10 AM
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Indian families sending money abroad for their children's education faced high bank fees. A report estimates they paid Rs 1,700 crore in 2024. Traditional banks charge high exchange rate markups. Digital remittances offer a cheaper alternative. India is now the largest source of international students in the US. Overseas education spending is expected to double by 2030.
5:10 PM
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Indian private bank executives experienced modest pay increases in FY25 due to the Reserve Bank of India's strict oversight on CEO compensation. HDFC Bank's Sashidhar Jagdishan emerged as the highest-paid banker, exceeding Rs 12 crore, a 12% rise. Ashok Vaswani of Kotak Mahindra Bank earned Rs 13 crore. Amitabh Chaudhry, Axis Bank CEO, saw a 5.
9:10 AM
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HDFC Bank is set to consider issuing bonus shares and a special interim dividend during its board meeting on July 19, alongside reviewing Q1 financial results. This marks the bank's first potential bonus issue in over three decades. The interim dividend, if approved, applies to FY26. These proposals signal confidence post-merger, aiming to boost liquidity and shareholder returns.
12:10 AM
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JPMorgan Chase CEO Jamie Dimon defended the Federal Reserve's independence amidst President Trump's pressure for rate cuts, cautioning against policy interference. Dimon highlighted potential adverse consequences of meddling with the central bank. Despite a 17% drop in net income to $15 billion, JPMorgan exceeded Wall Street expectations.
2:10 PM
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RBI's liquidity support, including government securities purchases and a CRR cut, has eased deposit pressures on Indian banks. This intervention has softened funding conditions and lowered deposit costs, providing short-term relief. While net interest margins are expected to shrink in FY26, they should improve in FY27, but the durability of these gains hinges on economic stability and continued policy support.
10:10 AM
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MTNL, the state-run telecom company, has defaulted on bank loans totaling Rs 8,585 crore from seven public sector banks between August 2024 and February 2025. The company's total debt obligations have reached Rs 34,484 crore as of June 30, 2025, including bank loans, sovereign guarantee bonds, and loans from the DoT.
9:10 AM
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RBI Governor Sanjay Malhotra indicated the possibility of rate cuts if inflation and growth continue to decline, potentially falling below the projected 3.7%. The MPC's neutral stance allows flexibility to respond to evolving conditions. The central bank is closely monitoring inflation trends and economic data to inform future policy decisions, considering both current and projected inflation.
6:10 PM
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JPMorgan Chase reported a second-quarter net profit of $14.2 billion, surpassing Wall Street expectations despite being lower than the previous year. Revenue reached $45.7 billion, exceeding estimates, with the markets division showing strong growth. CEO Jamie Dimon cautioned about persistent macroeconomic threats, including tariffs and geopolitical uncertainty, while acknowledging the resilient US economy.
11:10 AM
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A State Bank of India report forecasts record-low retail inflation in India by July 2025, projecting FY26 CPI inflation between 3.0% and 3.2%, significantly below the RBI's 3.7% forecast. This follows a recent 50 basis points rate cut, with the RBI now focusing on capital formation.
9:10 AM
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HDFC Bank is intensifying its digital transformation efforts by launching a centralised generative AI platform. This initiative moves the bank from experimental phases to structured deployment, with plans to implement over 15 high-impact pilot programs. These programs aim to significantly improve operational efficiency, boost staff productivity, and enhance customer service experiences.
8:10 AM
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India's retail inflation plummeted to a 77-month low of 2.1% in June, primarily driven by a significant moderation in food inflation. This decline has fueled speculation among experts that the Reserve Bank of India might consider a rate cut in its August meeting. Wholesale price inflation also entered deflation territory, further influenced by lower food and fuel prices.
8:10 PM
Blogger
US stock markets experienced a slight downturn following President Trump's announcement of new tariffs on EU and Mexico goods, sparking trade tension concerns. Despite this, major indexes remained near record highs as investors anticipated potential negotiations before the August 1 deadline. Meanwhile, investors are shifting focus to earnings season, with key banks set to report quarterly results.
1:10 PM
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US-based quant trading firm Jane Street is seeking to lift trading restrictions imposed by SEBI after depositing ₹4,843.58 crore in an escrow account. SEBI alleges Jane Street manipulated India's derivatives market, accumulating ₹36,500 crore in profits through orchestrated price inflation and subsequent liquidation of Nifty Bank component stocks and futures.
10:10 AM
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Stock market recommendations: SBI Securities' Sudeep Shah suggests a cautious, stock-specific approach amid Nifty's bearish signals and Bank Nifty's indecision. EID Parry and Prestige are top picks, showing bullish momentum and potential for short-term gains.
9:10 AM
Blogger
RBI's new directive allows banks to accept voluntary gold and silver pledges for agricultural and MSME loans up to Rs 2 lakh, even within collateral-free limits. This aims to enhance financial inclusion in rural areas where gold is a liquid asset, enabling faster loan processing and reducing reliance on informal lenders.
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