11:10 PM
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State Bank of India has made its first gold trade on the India International Bullion Exchange. This move marks a significant step in improving India's gold import system. SBI's new status as a special category client will help jewellers and other businesses conduct gold transactions more easily. This initiative aims to make gold imports more efficient and cost-effective.
6:10 PM
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The Reserve Bank of India reported that Rs 5,817 crore worth of Rs 2,000 denomination notes are still in circulation. This figure represents a significant decrease from the Rs 3.56 lakh crore in circulation when the notes were withdrawn on May 19, 2023. The RBI confirmed that 98.37% of these notes have been returned.
2:10 PM
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The National Highways Authority of India has simplified the FASTag Know Your Vehicle (KYV) process, ensuring services remain active during pending verification. Motorists now only need a front vehicle photo, and the system automatically retrieves RC details via Vahan. Issuing banks will proactively assist users, and the helpline is available for support.
9:10 AM
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America faces a severe penny shortage after President Trump halted production. Retailers and banks are struggling with cash transactions, with some businesses offering incentives to bring pennies back. The abrupt decision, aimed at cost-saving, has left commerce in disarray, prompting calls for government clarity as the holiday season approaches.
1:10 AM
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The government is nearing a bilateral trade deal with the US and plans to announce the Export Promotion Mission soon. Exporters sought relief from US tariffs and liquidity issues, with discussions planned with RBI and banks. Concerns were also raised about Quality Control Orders, which the minister defended.
12:10 AM
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A taxpayer successfully challenged the tax department's decision to treat a large cash deposit as presumptive business income. The Income Tax Appellate Tribunal ruled that the Assessing Officer exceeded his jurisdiction by expanding a limited scrutiny case without proper approval, reinforcing taxpayer rights.
6:10 PM
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New banking regulations starting November 1, 2025, will allow up to four nominees for bank accounts and safety lockers. SBI Card is also updating its fee structure for education payments and wallet reloads. Additionally, PNB is reducing locker rent, and government pensioners have extended deadlines for life certificate submissions and NPS transitions.
5:10 PM
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Banks across India will observe multiple holidays in November 2025, impacting physical operations due to various national, regional, and cultural festivals. While digital services remain active, customers are advised to consult the RBI's state-specific holiday list for in-person banking plans. Key observances include Kannada Rajyothsava, Guru Nanak Jayanti, and Meghalaya's Wangala Festival.
1:10 PM
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Asian markets showed mixed performance as investors digested President Trump's positive remarks on his meeting with Xi Jinping, which included tariff reductions and China's commitment to resuming soybean purchases. Central banks in Japan and Hong Kong maintained steady or adjusted policies, while cautious signals from the Federal Reserve regarding future rate cuts influenced global sentiment.
8:10 AM
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Top stock market recommendations: Nuvama Professional Clients Group's Deputy Vice President, Aakash K Hindocha, recommends ONGC, Graphite India, and SAIL as top buy calls. He anticipates Nifty and Bank Nifty to test all-time high levels.
11:10 PM
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The Reserve Bank of India has mandated banks to inform customers about nomination facilities when opening accounts, lockers, or safe custody services. Effective November 1, 2025, this move aims to simplify fund transfers after a depositor's death. While nomination remains optional, customers must provide a written declaration if they opt out.
3:10 PM
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PSU bank stocks are experiencing a significant rally, adding Rs 2.3 lakh crore to their market cap. This surge, driven by improving asset quality and potential foreign investment hikes, has ignited debate about its sustainability. While some analysts see opportunities in larger PSU banks, others express caution about long-term prospects beyond FY26.
10:10 PM
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India is bringing its gold reserves home. The Reserve Bank of India has moved significant amounts of gold back to domestic vaults. This repatriation follows global events that highlighted risks of holding sovereign assets abroad.
11:10 AM
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Brokerages are positive on Kotak Bank's loan growth and asset quality. Federal Bank's outlook is strengthening with improved earnings expected. SBI Life Insurance shows strong value of new business and margin expansion. SBI Cards' performance is watched for credit costs and margin improvement. Coforge delivered on margins and cash flows, with robust growth anticipated.
10:10 AM
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Stock market recommendations:Mirae Asset Sharekhan's Somil Mehta recommends buying Union Bank of India and Multi Commodity Exchange of India (MCX). Both stocks have shown positive technical indicators, breaking out of consolidation and resuming uptrends, with specific buy ranges, stop losses, and targets provided.
11:10 PM
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HSBC Bank has set aside $1.1 billion for a claim linked to Bernard Madoff's massive investment fraud. This provision, impacting the bank's third-quarter results, follows a partial loss in a Luxembourg court appeal. The case involves Herald Fund, which sued HSBC in 2009 after Madoff's Ponzi scheme collapsed, leaving many investors devastated.
1:10 PM
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Banks in Bihar, Jharkhand, and West Bengal are closed today for Chhath Puja, with some regions extending the holiday to tomorrow. These closures are state-specific, while other parts of India will have normal banking operations. Customers can utilize digital banking services for transactions during this period.
9:10 AM
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Stock market recommendations:SBI Securities' Sudeep Shah highlights Cummins India and Blue Star as top stock picks for the Diwali week. Nifty and Bank Nifty show signs of potential reversal after sharp rallies.
1:10 AM
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A businessman successfully proved cash gifts from his sisters were legitimate, avoiding tax evasion charges. The Income Tax Appellate Tribunal ruled in his favor, accepting documented property sale proceeds and bank records as proof of the donors' financial capacity.
9:10 PM
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State Bank of India is set to hire approximately 3,500 officers, bolstering its nationwide operations and service delivery. This recruitment drive includes filling Probationary Officer vacancies and specialist roles in IT and cybersecurity. SBI aims to increase its female workforce to 30% within five years, implementing initiatives to support women's career progression.
7:10 PM
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Gold and silver prices in India experienced a significant correction this week after reaching record highs, driven by profit-booking and a stronger US dollar. Analysts anticipate market consolidation ahead of global central bank meetings and trade developments, with a bullish long-term outlook for both precious metals.
5:10 PM
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Markets brace for a busy week with Q2FY26 earnings from major Indian firms like Kotak Mahindra Bank and ITC. Investors will also scrutinize India's September Industrial Production data. Globally, the US Federal Reserve's policy announcement and US-China trade talks are key, alongside crucial economic indicators from the US, Europe, and Japan, promising significant market shifts.
5:10 AM
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Federal Bank has secured a Rs 6,196.5 crore capital infusion from Blackstone through a preferential issue of warrants. This strategic move aims to bolster capital adequacy, support organic and inorganic expansion, and position the bank among India's top five private sector lenders. The investment provides flexibility for potential acquisitions and strengthens the bank's digital and national presence.
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