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Reserve Bank of India Governor Sanjay Malhotra stated that corporates will not be allowed banking licenses. The monetary policy committee retains flexibility on interest rates. Future rate decisions will depend on inflation and growth outlook. There is no plan to revise the 26% limit on promoter shareholding in private banks. RBI supports diversified ownership. The ultimate responsibility for a bank's operations lies with its board.from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/7kGuSVz
NSDL's upcoming IPO has set its price band at Rs 760-800 per share, a 22% discount from unlisted market values. The Rs 4,011.6 crore issue, opening July 30, involves existing shareholders like IDBI Bank and NSE offloading stakes. Targeting a Rs 16,000 crore valuation, NSDL's IPO draws comparisons to HDB Financial's discounted pricing.
US markets showed mixed trends. Investors analyzed second-quarter earnings reports. They anticipated potential trade agreements from President Donald Trump before the August 1 tariff deadline. Nasdaq Composite rose, driven by Alphabet's strong AI demand. Dow Jones Industrial Average declined due to Tesla's earnings concerns. European Central Bank maintained interest rates, awaiting eurozone-US trade talk outcomes.
Gold prices in India have surged past Rs 1 lakh per 10 grams. This rise worries jewellers before Raksha Bandhan and Diwali. Global factors like central bank buying and US trade issues drive prices up. Silver also sees a significant increase. Consumers are now opting for lighter or lower-karat jewellery. Investment buying in gold coins and bars remains steady.
The Enforcement Directorate conducted raids across Mumbai, investigating a Rs 3,000 crore money laundering case allegedly involving Anil Ambani's Reliance Group companies and loans from Yes Bank. The probe focuses on alleged fund diversions and breaches in loan approvals, with scrutiny on connections between payments to Yes Bank promoters and loan disbursements.
Top stock market recommendations: Aakash K Hindocha suggests a consolidation phase for Nifty between 24800 and 25320, anticipating a potential breakout led by Nifty IT. Bank Nifty's breakout above 57100 indicates continued outperformance with targets set for new all-time highs. Top stock picks include Balkrishna Industries, Sona BLW Precision Forgings, and Hindalco, each exhibiting bullish patterns and breakout confirmations.
The Asian Development Bank has revised India's GDP growth forecast for fiscal year 2026. The forecast is now 6.5 percent, down from 6.7 percent. This is due to global trade uncertainty and US tariffs. Despite this, India remains a fast-growing major economy. Growth will be supported by agriculture and services.
The US SEC has requested information from SEBI regarding its investigation into Jane Street for alleged manipulation of India's derivatives market. SEBI has responded to the SEC's queries, adhering to IOSCO guidelines. Jane Street faces allegations of manipulating the Bank Nifty Index, with SEBI imposing and then conditionally lifting a trading ban after the firm deposited alleged illegal gains.
Asian markets experienced a surge, particularly in Japan, following President Trump's announcement of a trade deal. The agreement includes reduced tariffs on Japanese exports to the US, boosting automaker stocks and overall investor sentiment. While details remain unclear, the deal has sparked optimism for broader trade relief and potential rate hikes by the Bank of Japan.
Indian Overseas Bank's Hong Kong branch (IOBHK) faces a HK$8.5 million penalty from the Hong Kong Monetary Authority for AML/CFT ordinance breaches. The HKMA cited 'significant failure' in mitigating risks, pointing to inadequate management oversight and improper handling of transaction alerts. IOB asserts no AML/CFT violations occurred, attributing the issue to software alert handling, with corrective measures underway.
ICICI Bank is currently favored by short-term investors due to its strong June quarter results, robust profit growth, and stable margins, outperforming HDFC Bank. HDFC Bank is navigating post-merger challenges, including an elevated credit-deposit ratio, impacting investor confidence. Analysts suggest ICICI Bank's clarity and consistency make it a preferred pick for near-term earnings visibility.
The Reserve Bank of India has announced the early redemption value for Sovereign Gold Bonds 2018-19 Series-V at Rs 9,820 per unit, applicable on July 22, 2025, after a five-year holding period. Launched in January 2019 at Rs 3,214 per gram, these bonds offer a 2.50% annual interest and provide a substantial return.
Good news for senior citizens. Higher returns are available on fixed deposits. Small finance banks offer up to 8.5% interest on three-year FDs. Utkarsh Small Finance Bank leads with the highest rate. Be mindful of tax deducted at source. Submit Form 15H to avoid TDS if income is below the taxable limit.
ICICI Bank's shares surged over 2.5% following a robust Q1 performance, with consolidated net profit rising by 15.9%. The bank reported a net profit of Rs 13,558 crore, driven by a 10.6% growth in core net interest income and 12% domestic loan growth. This positive momentum contributed to the equity markets' recovery, boosting the BSE Sensex and NSE Nifty.
Stock market recommendations: Motilal Oswal Financial Services recommends Vishal Mega Mart and State Bank of India as top stock picks for the week starting July 21, 2025. Vishal Mega Mart aims for expansion with strong store economics, while SBI launched a ₹25,000-crore QIP to support growth and strengthen its capital adequacy, positioning it for sustainable growth.
The HDFC and HDFC Bank merger continues to impact credit growth, pulling industry figures into single digits in Q1FY26. HDFC Bank's loan growth slowed post-merger to prioritize balance sheet stability, impacting overall banking system performance. While mortgage growth was slower than the industry average due to intense competition, the bank anticipates consumption recovery and MSME segment growth.
Indian Overseas Bank (IOB) has announced a record net profit of Rs 1,111 crore for Q1 FY26, a 76% increase year-on-year. Confident in sustaining this growth, IOB targets 12% overall business growth for FY26 and aims to recover Rs 4,500 crore in bad loans.
Gold prices are projected to trade narrowly as investors await key global economic data, trade negotiation updates, and central bank policy signals. Focus will be on the Federal Reserve Chair's speech, PMI data, and the European Central Bank's interest rate decision.
HDFC Bank and ICICI Bank both reported robust earnings growth for the June 2025 quarter, fueled by increased interest and non-interest income. HDFC Bank announced a bonus issue and dividend, with net profit rising 12.2%. ICICI Bank's net profit grew by 15.4%, driven by income growth, while both lenders expressed caution regarding margin pressures and certain retail lending segments.
