2:10 PM
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ICICI Bank has raised the minimum average balance requirement for new savings accounts opened from August 1st. The new MAB is Rs 50,000 for metro/urban, Rs 25,000 for semi-urban, and Rs 10,000 for rural locations.
5:10 AM
Blogger
State Bank of India's Q1 FY26 consolidated profit rose 9.7% to Rs 21,201 crore, fueled by strong treasury and forex income. While advances grew 11.6%, net interest income slightly decreased due to margin contraction. The bank anticipates a U-shaped recovery in NIMs and maintains its FY26 loan and deposit growth guidance at 12% and 10%, respectively.
8:10 AM
Blogger
Stock market recommendations: Amidst US tariff tensions, Indian markets show volatility, with Nifty finding support at 24,400-24,500 and Bank Nifty between 55,200-54,900. Bajaj Broking suggests accumulating fundamentally strong stocks during this correction. Top picks include JSW Energy, poised for a breakout targeting ₹598, and Hindustan Aeronautics (HAL), expected to reach ₹4870.
2:10 AM
Blogger
Starting January 1, 2026, the RBI mandates banks to settle claims of deceased customers within 15 days with complete documentation. Failure to comply results in penalties: interest on deposit delays and a daily charge for locker access delays. This initiative aims to streamline the process, reduce unclaimed deposits, and ensure grieving families promptly receive funds and valuables.
12:10 AM
Blogger
The Bank of England reduced interest rates to 4% due to economic concerns. This is the fifth cut since August 2024. The move aims to counter rising US tariffs and domestic tax hikes. Inflation rose to 3.6% in June. Growth forecast is slightly up to 1.25%. The decision faced division within the Monetary Policy Committee. Unemployment reached 4.7%.
7:10 PM
Blogger
Reserve Bank of India forecasts a rise in India's merchandise imports. Imports are expected to grow faster than exports in the coming financial years. This trade gap may impact India's external balance. GDP is projected to grow steadily. Private consumption and capital formation are also expected to increase. Inflation is estimated to remain moderate initially, rising later.
8:10 AM
Blogger
Top stock market recommendations: Nuvama Professional Clients Group's Aakash K Hindocha suggests a cautious outlook on Nifty and Bank Nifty, anticipating potential sharp moves. He recommends buying Asian Paints, Cummins India, and Eicher Motors.
2:10 AM
Blogger
The Reserve Bank of India is set to streamline the process for banks to release funds and valuables of deceased customers, establishing a uniform procedure for both deposits and safe-deposit lockers, replacing the current inconsistent rules. Furthermore, the RBI introduced an auto-bidding feature on its Retail Direct platform, enabling investors to automate bids for Treasury-bill auctions, enhancing systematic investment planning.
1:10 PM
Blogger
RBI Governor Sanjay Malhotra acknowledges the difficulty in predicting the impact of potential US tariffs on India's GDP growth. While the central bank retained its 6.5% GDP forecast for fiscal year 2025-26 and kept the repo rate unchanged, Malhotra emphasized ongoing global uncertainties.
6:10 AM
Blogger
Kotak Bank has refuted reports of a customer seeing a 37-digit balance via a third-party UPI app, advising users to check balances on its official platforms. The bank clarified that the media reports indicating unusually large balances were inaccurate. Customers are urged to verify their account details using Kotak's mobile banking app or net banking platforms for accurate information.
12:10 AM
Blogger
Tata Motors, Yes Bank, and Vodafone Idea have become India's most widely held stocks, surpassing previous favorites like Reliance Power. By June 2025, Tata Motors led with over 67.5 lakh shareholders, a significant increase from past years. This surge reflects growing retail investor participation, drawn by potential turnaround stories and low-priced stocks.
12:10 PM
Blogger
The Department of Telecommunications has blacklisted 300,000-400,000 SIM cards linked to fraud. Its Financial Risk Indicator identifies high-risk numbers daily, aiding UPI platforms in preventing fraudulent transactions. The RBI has directed banks to incorporate the FRI, reducing fraud response times. Additionally, AI systems are being used to detect and interact with fraudulent accounts on social media, gathering crucial information.
8:10 PM
Blogger
The Reserve Bank of India's MPC commenced a three-day meeting amidst expectations of a rate pause, influenced by US tariffs and domestic economic factors. While economists are divided, industry voices advocate for a 25 bps rate cut to support MSMEs facing export headwinds. The decision hinges on inflation data, oil prices, and the impact of previous rate cuts.
6:10 PM
Blogger
Following three consecutive rate cuts, the Reserve Bank of India is expected to maintain the repo rate at 5.5 per cent in its upcoming monetary policy review. While inflation remains below the RBI’s target, experts believe the central bank may hold off on further easing to assess the full impact of earlier cuts, considering resilient growth.
5:10 PM
Blogger
Punjab National Bank (PNB) is confident in exceeding its business target for the current fiscal year, aiming for Rs 30 lakh crore by March 2026. With a strong corporate loan pipeline and focus on MSME and retail lending, PNB anticipates significant growth. The bank prioritizes low-cost CASA deposits and maintains a healthy capital adequacy ratio to support its expansion.
11:10 AM
Blogger
Last week witnessed a significant downturn for most of the top 10 highest-valued firms, with a collective market value reduction of Rs 1.35 lakh crore, influenced by a decrease in the BSE benchmark. TCS and Bharti Airtel experienced the most substantial losses, while Reliance Industries, HDFC Bank, and Hindustan Unilever bucked the trend, recording gains in their market capitalization.
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