11:10 AM
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The rupee opened at 96.71 against the dollar but improved to 96.65 thanks to intervention from the Reserve Bank of India. External factors, like a robust US dollar and climbing crude oil prices, are still putting pressure on the currency. Additionally, India's forex reserves are diminishing, leading to unease about the rupee's consistency.
8:10 AM
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RBI governor Sanjay Malhotra indicated that the rupee is undervalued and the central bank will intervene. The rupee closed at 96.78, down 36 paise from the previous day, hitting a five-month low. Malhotra mentioned that global AI stock corrections could attract foreign capital to India. Despite a robust services trade surplus, the current account deficit has widened due to increased merchandise trade deficit.
4:10 AM
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The Reserve Bank of India has announced a 25 basis points increase in the repo rate to 5.5%. This decision reflects growing inflation pressures and stronger than anticipated economic growth. The rise in interest rates will lead to higher loan EMIs, impacting consumption during the festive season. Banks are expected to increase fixed deposit rates following this policy change.
11:10 PM
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For individuals who receive a CAS, this means information on their mutual funds, stocks and, going forward, fixed deposits (FDs) can be viewed together in one place. The change will allow demat account holders to see details of their demat holdings as well as bank deposit accounts together in a single CAS.
8:10 AM
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The World Bank has revised India's economic growth projection to 7.1% for 2026-27, up from an earlier estimate. Strong domestic demand and exports are expected to support this growth despite global challenges. The Indian economy's performance in the first quarter of the current financial year has led to upgrades from various global entities. Agricultural output may be affected by sub-par monsoons, impacting rural demand and food inflation.
7:10 PM
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The proposal is aimed at ensuring that different channels used to import bullion face similar tax treatment and at reducing classification and valuation disputes that have resulted in lengthy litigation. The issue is likely to be discussed at the GST Council meeting on October 8. Currently, banks and certain nominated agencies are required to pay 3% GST when importing precious metals.
7:10 AM
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Private banks witnessed considerable credit and deposit growth in the second quarter of FY27. This growth was driven by the RBI's concessional dollar-rupee swap facility for FCNR(B) deposits. Major banks like Axis Bank, Kotak, and HDFC Bank reported varying growth figures, showing the impact of international branches. Although headline numbers appeared strong, underlying growth was more moderate after adjustments.
12:10 PM
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The rupee started off on a weaker note against the US dollar due to soaring crude oil prices and foreign investors selling off. In response, the Reserve Bank of India is stepping in to curb volatile changes, as forex reserves dwindle. Market analysts anticipate a possible interest rate increase following the upcoming monetary policy meeting, while the dollar index remains robust.
6:10 AM
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Bankers expect the Reserve Bank of India to raise the repo rate by 25 basis points soon. This marks the end of the rate-cutting phase that began in February 2025. Economists predict inflation will exceed the RBI’s forecasts, necessitating tightening. Experts anticipate resilient growth will provide the RBI room to act despite external pressures. The focus will remain on managing liquidity and aligning rates with policy measures.
10:10 PM
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This week, prices for gold and silver are likely to experience fluctuations driven by various factors including the strength of the US dollar, rising bond yields, and continuing tensions between the US and Iran. Market participants are closely monitoring the Reserve Bank of India's impending interest rate decision, as well as key economic data that could shape market predictions.
4:10 PM
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Volatility looms over Indian stock markets as they navigate a complex web of local and global influences. Major factors at play include the upcoming decision on interest rates from the Reserve Bank of India, alongside the eagerly awaited corporate earnings announcements. Additionally, fluctuations in crude oil pricing and global bond yields are expected to mold market sentiment.
11:10 PM
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The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) recently held that rental income already disclosed to the income tax authorities can be considered as an identifiable source of cash deposited into a bank account at a later date. Even where a landlord claims to have collected rent in cash, the subsequent deposit of that money cannot be disregarded merely because the rental earnings have already been taxed.
3:10 PM
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During the Kautilya Economic Conclave, Reserve Bank governor Sanjay Malhotra emphasized the critical need for a resilient financial infrastructure. He pointed out the significance of monitoring new vulnerabilities to ensure the system can withstand diverse shocks. Malhotra acknowledged that systemic risks are now more global and interconnected, leading to unique challenges.
8:10 AM
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Chairman Setty says bank aspires to increase UPI transactions through Yono to 5cr per day
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4:10 PM
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PIB Fact Check has debunked claims about a government notification for public sector banks declaring Saturdays as holidays. A fake document circulated on social media created confusion around the banking holiday issue. Public sector banks, including the State Bank of India, have not received any such notifications. Discussions regarding the five-day banking week are ongoing between the Indian Banks' Association and the United Forum of Bank Unions.
12:10 AM
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The money changes include a reduction in the number of free ATM transactions for certain State Bank of India (SBI) salary account customers, new disclosure norms for interest rates on bulk fixed deposits (FDs), revised charges under the National Pension System (NPS) and mandatory Aadhaar authentication for receiving LPG subsidies.
5:10 PM
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Bank customers are advised to organize their visits in light of several upcoming regional and national holidays that will lead to branch closures. Key dates to remember include Mahatma Gandhi Jayanti on October 2 and Dussehra on October 19, which will affect various states. Furthermore, expect closures on the second and fourth Saturdays of October. However, customers can still leverage digital banking for regular transactions during these periods.
3:10 PM
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Bank of America Securities anticipates that the Reserve Bank of India will implement significant interest rate hikes by mid-2027. They have adjusted their forecast for the initial hike to October instead of December, predicting a cumulative increase of 100 basis points, resulting in a terminal rate of 6.25 percent. This expectation is bolstered by economic growth and inflation concerns, but any slowdown in the economy could impact the RBI's strategy.
11:10 AM
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In the early trading session, the rupee opened at 95.87 against the US dollar but quickly fell to 95.97. This decline is attributed to strong demand for dollars from oil marketing companies. To curb the rupee's decline below the 96 mark, state-run banks are stepping in. Additionally, foreign portfolio outflows totaling around $2.2 billion this month are further straining the currency.
8:10 AM
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Noel Tata's plan for merging Tata companies seeks to maintain the private status of Tata Sons, avoiding any public listing. However, the Reserve Bank of India has already rejected previous requests to ease regulatory restrictions on Tata Sons. Additionally, potential dissent within the Tata Sons board may question the validity of this merger initiative, amplified by the Shapoorji Pallonji Group's counterarguments.
9:10 PM
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In a strategic move, Tata Trusts have put forth a plan to merge Tata Electronics Systems Solutions Pvt Ltd and Tata Consulting Engineers into Tata Sons. This restructuring aims to redefine Tata Sons' regulatory classification, thereby sidestepping extra regulatory burdens. Before any actions are taken, the proposal requires a no-objection certificate from the Reserve Bank of India.
3:10 PM
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The Delhi High Court recently this very principle of mesne profits in a case involving a bank, directing the tenant to pay out, along with 6% annual interest, to the landlady for continuing to occupy the premises beyond the agreed tenancy period.
9:10 AM
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This means that all banks across the country will continue to function as usual for the strike period that had been announced September 28-30. This also assumes significance since it's the time for half yearly closing.
6:10 PM
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Prepare for some interruptions in banking services next week as banks will be closing for several days. A nationwide strike is set from September 28 to 30, followed by a holiday on October 2. While you can still access digital banking, in-person services will be limited. Make sure to visit your local branch after the closure, and remember to verify the holiday hours before going out.
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11:10 PM
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After examining the material placed before it, the commission concluded that the original property papers had been lost while they were in the bank's custody.
2:10 PM
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Nirmala Sitharaman clarified that there will be no Merchant Discount Rate (MDR) charged by the government on UPI transactions. She reassured consumers that for transactions over Rs 2,000, the MDR will be covered by merchants and banks. According to NPCI’s Dilip Asbe, a significant 75 percent of UPI transactions remain unaffected by MDR. Most fees originate from larger businesses that incur higher credit card charges.
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9:10 PM
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On July 1, 2026, the homebuyer won the matter before the MahaREAT. In its ruling, the tribunal directed the builder to refund the homebuyer Rs 48.73 lakh and Rs 66.56 lakh, along with interest at the State Bank of India's Marginal Cost of Lending Rate (MCLR) plus 2%.
2:10 PM
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The salaries and pensions for central government employees and pensions will be credited on September 25, ahead of a three-day bank strike called by the United Forum of Bank Unions (UFBU). The proposed strike also falls during the half-yearly closing period for the banking sector.
12:10 PM
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Bank unions are gearing up for a three-day nationwide strike from September 28 to 30, potentially halting banking services and creating a five-day interruption for customers due to the preceding weekend holiday. Key banking activities, including half-yearly closings, will coincide with this period, heightening concerns about accessibility. Customers are encouraged to leverage digital services and finish any in-branch transactions before the strike.
11:10 PM
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The finance ministry urged bank employees to resolve demands through dialogue. A three-day nationwide strike is planned from September 28 to 30. Unions seek a five-day banking week and withdrawal of the PLI scheme. The government has addressed most concerns and is examining remaining issues. Banks are preparing for potential disruptions and advising customers to use digital services.
5:10 PM
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Gadkari launched the facility at the Global Fintech Fest 2026 in Mumbai. The initiative is intended to give FASTag users more flexibility in choosing their issuer bank and make the process of switching banks simpler.
2:10 PM
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The proposed strike comes immediately after the weekend. September 26 is the second Saturday of the month and is a bank holiday, while September 27, 2026, falls on a Sunday.
6:10 PM
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India anticipates 6.5-7 percent real GDP growth this fiscal year. Bank credit expansion signals strong economic momentum and business activity. Domestic demand remains firm, evidenced by rising GST and power consumption. Corporate earnings growth is projected to accelerate to seventeen percent. Energy price risks persist, though India diversifies its crude oil sources.
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6:10 PM
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The 2008 global financial crisis hit India through markets, capital flows and trade, but its banking system remained resilient. The shock exposed gaps in financial resolution and regulation, prompting reforms including the IBC, stronger safeguards for systemically important banks and higher buffers. Nearly 18 years later, India is stronger, but rising AI investment raises fresh questions about leverage and financial stability.
9:10 PM
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The tribunal found that the addition could not stand in the absence of evidence that the taxpayer had actually received the amount from the Employees’ Provident Fund Organisation (EPFO), withdrawn it from his EPF account or received any corresponding credit in his bank account.
3:10 PM
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The finance ministry has sought feedback from regulators, banks and other stakeholders. A broad consensus has emerged that digital gold should be classified as a security under the Securities Contracts (Regulation) Act, 1956.
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4:10 PM
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The Indian rupee experienced its sharpest single-day fall in two months. Rising oil prices and higher US interest rate expectations pressured the currency. Attacks on Saudi Arabian energy infrastructure boosted crude oil prices significantly. The Reserve Bank of India's dollar sales helped limit the rupee's losses. Bond yields rose as inflation and rate-hike bets grew.
6:10 PM
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India's retail inflation rose to 4.82% in August, while wholesale inflation neared double digits. Food inflation increased to 5.95% at the consumer level and 7.05% wholesale. Fuel and power inflation surged sharply to over 22% on the wholesale price index. Economists anticipate continued upward pressure on prices due to global factors. The Reserve Bank of India's monetary policy outlook remains a key focus.
10:10 PM
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On September 14, banks in various Indian states will shut down in observance of Ganesh Chaturthi. It's important for customers to check their specific branch's holiday hours, as additional regional holidays may also affect bank operations throughout the month. However, ATMs and online banking will still be available, so planning ahead can help ensure you maintain access to necessary banking services.
10:10 AM
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At the latest summit, BRICS leaders unanimously endorsed the New Delhi Declaration, marking a significant step toward a resilient strategic partnership. This declaration focuses on fostering cooperation in emerging technologies and strengthening digital infrastructure. Additionally, it aims to bolster the New Development Bank and enhance supply chain resilience, all while underscoring the leaders' commitment to solidarity and mutual respect.
6:10 AM
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HDFC Bank has presented two candidates to the RBI for the upcoming role of managing director and CEO. The board has also sanctioned the promotion of Jimmy Tata to executive director while seeking an extension for V Srinivasa Rangan. This move will elevate the count of whole-time directors to four, enhancing oversight across its subsidiaries. Final approval for these transitions now lies with the Reserve Bank of India.
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India has achieved a remarkable milestone with its foreign exchange reserves soaring to an impressive $785.706 billion. This upswing comes on the heels of a notable rise in the previous week, primarily fueled by robust foreign currency assets. The central bank's proactive steps attracted more than USD 136 billion in fresh inflows. Conversely, there was a slight dip in the value of India's gold reserves during that period.
6:10 PM
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Finance Minister Nirmala Sitharaman addressed artificial intelligence risks at the Global Fintech Fest 2026. She highlighted technology's potential to influence public opinion and electoral outcomes. The Reserve Bank of India recognized the Unified Fintech Forum as a self-regulatory organization. Sitharaman emphasized balancing innovation with necessary risk mitigation measures. India's young population is driving innovation and economic growth, she stated.
5:10 PM
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Banks will face disruptions across India due to elections and union strikes. A nationwide strike by bank employees is planned for September eleventh. Gujarat will see a three-day strike affecting thousands of branches and transactions. Several states observe bank holidays for Ganesh Chaturthi and other festivals. ATMs and digital banking services will remain available for customers.
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