11:10 PM
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Washington's economy faces severe distress due to the prolonged government shutdown, leading to mass layoffs and halted food assistance. The Capital Area Food Bank is seeing an 8 million meal increase in demand. Local businesses report significant sales drops as federal employees cut spending, pushing families into crisis and forcing some to relocate.
1:10 PM
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State Bank of India aims to be among the world's top 10 most valued banks by 2030. This follows the bank crossing the Rs 100 lakh crore business milestone. SBI is strengthening its capital buffers to support future growth. The bank also surpassed $100 billion in market capitalization. This positions SBI for significant global recognition.
5:10 AM
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7:10 AM
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'To Discuss With RBI, Will Engage Banks, Need Lot Of Groundwork'
5:10 PM
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Finance Minister Nirmala Sitharaman highlighted India's need for large, world-class banks to fuel economic expansion. The government is actively discussing strategies with the RBI and lenders to build scale and strengthen the banking sector. This initiative aligns with ongoing efforts to consolidate public sector banks and advance the privatization of IDBI Bank.
3:10 PM
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JPMorgan Chase CEO Jamie Dimon anticipates AI will stabilize or grow the bank's workforce, focusing on efficiency gains and redeploying employees. While acknowledging AI's potential to reduce some workloads, he believes it will create new jobs in data and technology, countering widespread job loss concerns.
1:10 PM
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Mahindra & Mahindra has divested its entire 3.5% stake in RBL Bank for Rs 678 crore, realizing a significant gain. This move precedes Emirates NBD's open offer to acquire a substantial stake, aiming to merge its India operations with RBL Bank and bolster its capital.
9:10 AM
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Top stock market recommendations: Nuvama Professional Clients Group's Deputy Vice President Aakash K Hindocha recommends buying Delhivery, Kalpataru Projects International, and Gravita India. He notes Nifty's recent pullback near 26100 and Bank Nifty's double inside bar formation.
2:10 PM
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India's GIFT City may soon facilitate transactions in offshore Chinese renminbi. Authorities are reviewing a proposal to enable International Banking Units to deal in CNH. This move follows improved India-China relations and aims to expand banking services. Indian banks anticipate benefits from increased yuan-based transactions, driven by global trade. The decision awaits high-level approval.
10:10 AM
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Banks across numerous states will be closed on Wednesday, November 5th, for Guru Nanak Jayanti and Kartik Purnima. Customers needing in-person services should verify local schedules. While branches are shut, digital banking and ATMs remain operational for essential transactions. Plan ahead for any branch-specific needs.
7:10 AM
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4:10 PM
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State Bank of India's net profit surged 10% to Rs 20,160 crore in Q2 FY26, boosted by a one-time gain from its Yes Bank stake sale. Total business crossed Rs 100 lakh crore. Despite margin pressures, loan growth remained steady, driven by retail, agriculture, and MSME sectors. Asset quality saw significant improvement.
2:10 PM
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Global central banks significantly boosted gold reserves in Q3 2025, adding 220 tonnes, a 28% quarterly jump. India's RBI acquired 600 kilos, reaching 880 tonnes. Despite higher prices, this strategic move signals confidence in gold as a safe haven, with Kazakhstan and Brazil leading recent purchases.
9:10 AM
Blogger
Banks across numerous Indian states will be closed on Wednesday, November 5, for Guru Nanak Jayanti and Kartik Purnima. Customers in states like Maharashtra, Uttar Pradesh, and West Bengal will face branch closures. While digital banking services remain operational, in-person transactions will be unavailable.
8:10 AM
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Analysts are bullish on Vedanta, anticipating growth from expansion projects and improved commodity prices. BEL's strong performance is noted, though valuations are a concern. Bank of Baroda shows robust loan growth and improving asset quality. BPCL's earnings are boosted by refining gains, while GAIL's gas trading performance impresses, despite subdued petchem results.
2:10 PM
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Stock market recommendations: Sudeep Shah of SBI Securities recommends Ashoka Buildcon and Sobha for the week starting November 3, 2025. Nifty consolidated after an October rally, showing indecision, while Bank Nifty also saw fatigue at record highs. Both indices remain in an uptrend.
10:10 AM
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Asian stocks opened higher, buoyed by AI optimism and a tech-led rally on Wall Street. Market attention remains on central bank developments and the US-China trade truce. The dollar strengthened near a three-month high following mixed signals from the Federal Reserve regarding future interest rate cuts.
4:10 PM
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Indian equities are poised for an eventful, holiday-shortened week driven by quarterly earnings from major companies like Bharti Airtel and State Bank of India, alongside crucial macroeconomic data. Analysts will closely monitor manufacturing and services PMI readings for domestic growth cues and global trends, with FII activity also a key factor.
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