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Overseas Indians withdrew nearly $2 billion more than they deposited in Indian bank accounts in March, driven by a fall in Non-Resident External Rupee Accounts and Non-Resident Ordinary accounts. This trend, linked to geopolitical uncertainty from the Iran war, saw total NRI deposits decline to $165.65 billion.
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Will lead a central bank oriented toward reform, says new chair
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India's second-largest shareholder, the Asian Infrastructure Investment Bank (AIIB), has launched a $10 billion fund to aid member nations grappling with the Middle East conflict's economic fallout. This facility offers crucial support for energy and food security, alongside economic resilience, through fast-disbursing aid and liquidity for affected countries and businesses.
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The Reserve Bank of India has announced a record Rs 2.87 lakh crore dividend payout to the government for FY26, significantly boosting fiscal space amidst global uncertainties. This substantial transfer, a notable increase from previous years, reflects the central bank's robust financial performance and expanding balance sheet. The decision was made at the RBI Central Board's recent meeting.
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SBI Mutual Fund has boosted its investment in Bandhan Bank. The fund's stake now exceeds five percent after buying more shares. This move was reported on May 20, 2026. Bandhan Bank shares saw a slight increase on Friday. Investors are watching this development closely.
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The Reserve Bank of India aggressively intervened, selling billions to defend the rupee against sustained pressure. This significant dollar selling, even before markets opened, helped the currency strengthen. Elevated oil prices remain a key concern, with policymakers considering further measures, including a potential interest rate hike, to stabilize the rupee.
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At a practical level, what employees experience will depend on where they work and how the rules are implemented. For example, an employee in a bank or insurance company, where the central government is the appropriate authority, may begin experiencing more standardised compliance with working hours.
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The Indian rupee strengthened on Thursday, ending a two-week losing streak following aggressive intervention by the Reserve Bank of India. The central bank sold dollars to support the currency, which had hit record lows. Despite this, elevated oil prices and geopolitical risks continue to weigh on the outlook.
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The Indian Rupee saw a welcome rebound, gaining 61 paise to trade at 96.25 against the US dollar, driven by easing oil prices. Despite this recovery, the currency remains under pressure, marking a nine-session losing streak. The Reserve Bank of India announced a $5 billion dollar-rupee swap auction to bolster banking system liquidity amidst global uncertainties and foreign investor outflows.
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The Indian rupee hit an all-time low against the US dollar on Wednesday, pressured by soaring oil prices and rising US Treasury yields. Geopolitical tensions and potential global rate hikes further weakened emerging market currencies. Analysts warn of continued pressure on the rupee, with forecasts revised upwards. Reserve Bank of India interventions helped curb the decline.
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The Reserve Bank of India is injecting $5 billion into the banking system through a USD/INR buy-sell swap auction on May 26. This move aims to boost long-term liquidity amidst a weakening rupee and global uncertainties. Banks will sell dollars to the RBI and buy them back in three years, with bids based on premium offers.
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Indian bank branches see most frequent visits from entrepreneurs, rural customers, and the affluent, driven by cash transactions and advisory needs. Younger, digital-native users are least likely to visit, preferring online services. Despite rising mobile adoption, demand for enhanced digital support and continued branch relevance for complex interactions is evident.
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The Indian rupee hit a record low of 96.70 against the US dollar on Tuesday, extending its losing streak to eight sessions. Rising crude oil prices, foreign fund outflows, and a strong dollar due to global risk aversion are key factors. Forex traders also cited supply-chain disruptions. The Reserve Bank of India's intervention and import restrictions might offer some support.
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Indian equity benchmarks Sensex and Nifty closed lower on Tuesday after a late sell-off in heavyweight stocks like HDFC Bank and Reliance Industries erased early gains. Concerns over the rupee hitting a fresh record low and elevated crude oil prices also weighed on investor sentiment, though IT stocks provided some support.
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Stock market recommendations: Bharti Airtel, and Kirloskar Oil Engines are the top stocks that Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities recommends buying for this week (starting May 18, 2026). The analyst also shares his views on Nifty and Bank Nifty:
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