6:10 PM
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State Bank of India (SBI) has secured a EUR 100 million Line of Credit agreement with Agence Française de Développement (AFD) at GIFT City to promote green financing initiatives. This partnership aims to support climate mitigation and adaptation projects, furthering India's transition to a low-carbon economy. SBI intends to build a green loan portfolio comprising 7.
10:10 AM
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Indian bank operations will proceed normally on August 30, 2025, a fifth Saturday, while digital services remain accessible during holidays. Branch visits are necessary for specific tasks like KYC updates and deceased account settlements.
12:10 AM
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Canada's economy experienced a contraction of 1.6% in the second quarter, marking the first GDP decline in seven quarters. This downturn was largely attributed to a sharp 7.5% fall in exports, significantly impacted by tariffs imposed by the US. The decline has fueled speculation that the Bank of Canada might consider cutting interest rates in September.
7:10 PM
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Despite President Trump's tariffs, the Federal Reserve's preferred inflation measure remained steady in July, while core inflation saw a slight increase, indicating ongoing price pressures. This data reinforces the Fed's cautious approach to interest rate cuts, as inflation remains above the central bank's 2% target. Trump has criticized Fed Chair Powell for not implementing aggressive rate cuts.
4:10 PM
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Power Finance Corporation (PFC) and Japan Bank for International Cooperation (JBIC) have formalized a loan agreement amounting to 60 billion Japanese Yen, approximately Rs 3,500 crore, to facilitate clean energy initiatives in India. This collaboration, under JBIC’s GREEN initiative, aims to bolster sustainable development and fortify economic relations between India and Japan.
9:10 AM
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Stock market recommendations: Bajaj Broking Research suggests Godawari Power and Ispat Limited and Apollo Micro Systems as top stock picks amidst market volatility influenced by new US tariffs. Nifty faces support at 24,400-24,350, while Bank Nifty's key support is at 53,000. Focus remains on quality stocks benefiting from GST reforms and the festive season.
8:10 AM
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Brokerages maintain positive outlooks on several stocks. Nuvama highlights Maruti Suzuki's EV production and capacity expansion. Motilal Oswal sees transformational growth for Adani Ports. Jefferies notes ICICI Bank's rising risk profile but stable credit costs. Investec anticipates improved returns for RBL Bank, while ICICI Securities emphasizes Allied Blenders & Distillers' premiumization strategy.
8:10 AM
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Top stock market recommendations: Nuvama Professional Clients Group's Aakash K Hindocha recommends Nykaa, Kaynes, and Dr Reddy's Laboratories as top stock picks for today. Nifty faces potential downside, targeting 24500/24350, while Bank Nifty may test sub-54000 levels.
5:10 AM
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3:10 PM
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The government is addressing failed transactions under the PM-Kisan scheme due to Aadhaar mapping issues and incomplete KYC. Banks are directed to improve communication with farmers and assist in meeting eligibility requirements. A financial inclusion drive is underway, boosting participation in Jan Dhan Yojana and social security schemes, alongside Re-KYC updates.
12:10 PM
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State Bank of India's analysis suggests that the recent US tariffs on Indian goods could negatively impact the American economy. The report projects a potential 40-50 basis point reduction in US GDP and increased inflationary pressures. Import-dependent sectors in the US are already feeling the strain.
4:10 PM
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Global stock markets experienced a downturn on Tuesday following President Trump's actions, including the dismissal of a Federal Reserve official and threats of export controls on microchips. Asian and European markets reacted negatively, with indices like Hang Seng, Nikkei, and FTSE 100 all declining. These developments have heightened concerns about central bank independence and potential trade conflicts, impacting investor confidence.
2:10 PM
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Ganesh Chaturthi leads to bank closures on August 27 in several states including Gujarat, Maharashtra, and Tamil Nadu, with online services remaining accessible. Further closures are scheduled for Nuakhai and Ganesh Chaturthi in Odisha and Goa, respectively. Customers should note upcoming nationwide holidays in October for Gandhi Jayanti and Diwali, impacting in-person banking services.
9:10 AM
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US President Trump on Monday threatened trade measures against nations with digital taxes targeting American tech giants, deeming them discriminatory. He warned of tariffs and export restrictions on technology and chips if these policies persist. Dozens of countries impose digital services taxes, prompting debates over fair contributions from tech companies.
5:10 PM
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A Goldman Sachs report indicates a significant shift in Indian household savings. Nearly $9.5 trillion is expected to flow into financial assets in the next decade. This transition from physical assets like gold and real estate to financial instruments is notable. Long-term savings products, bank deposits, equities, and mutual funds are set to benefit.
10:10 AM
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Stock market recommendations: SBI Securities' Sudeep Shah recommends Apollo Tyres and Nykaa as top stock picks for the week starting August 25, 2025. Nifty faces resistance around 25050-25100, while Bank Nifty underperforms, finding support at 54900-54800.
7:10 AM
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12:10 AM
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Christine Lagarde cautioned against undermining central bank independence, citing potential dysfunction and instability. Her remarks, delivered amidst President Trump's pressure on the Federal Reserve to cut interest rates, highlight international concern over political interference. Lagarde's experience at the IMF informs her warning about the dangers of compromising central bank autonomy.
5:10 PM
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Fueled by bullish domestic equities, eight of the top-ten most valued firms in India saw a combined market valuation increase of over Rs 1.72 lakh crore last week. Reliance Industries emerged as the biggest gainer, while HDFC Bank and SBI experienced declines in market capitalization. Reliance Industries remains the most valued firm, followed by HDFC Bank and TCS.
2:10 PM
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12:10 AM
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The Reserve Bank of India (RBI) has approved Sumitomo Mitsui Banking Corporation's (SMBC) plan to acquire up to 24.99% stake in Yes Bank. This follows Yes Bank's earlier announcement regarding SMBC's intention to purchase a 20% holding. The RBI's approval, valid for one year, is subject to certain conditions, including compliance with banking regulations and other applicable laws.
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