RSS Feed
Twitter
6:10 PM
Blogger
Kotak Mahindra Bank's CEO, Ashok Vaswani, will not seek reappointment after his term ends December 31, 2026, citing personal reasons. The bank has initiated the process to find a successor. Vaswani, who took charge in January 2024, aims to elevate the bank's standing amidst a period of regulatory review and growth acceleration. The bank recently reported a 13% net profit increase for Q4 FY26.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/xnqYfgh
The sharp rise in inflows follows a series of measures by the government and the Reserve Bank of India. According to reports, this is the highest monthly inflow into sovereign debt by a wide margin. The figure comfortably exceeds the previous record of Rs 22,005 crore recorded in August 2024.
A massive crypto heist, initially linked to North Korea, has unraveled a complex financial web connecting to Iran's central bank. Investigators discovered stolen funds moving through wallets associated with Iran's central bank before reaching CoinEx, a key exchange facilitating Iranian crypto users. This revelation underscores the growing role of digital assets in Iran and the challenges in monitoring cross-border transactions.
India is actively seeking foreign currency inflows by encouraging its diaspora to deposit funds. Banks are now permitted to offer substantial leverage on these special foreign-currency deposits, with potential returns exceeding 6% and leveraged rates above 10%. This initiative aims to bolster foreign exchange reserves amidst global economic uncertainties and has the potential to attract over $80 billion.
Gold price prediction today: A consistent rise in gold prices due to drop in oil prices is being constrained by hawkish outlook from central banks which are signalling a possible rate hike to keep inflationary pressures in check, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
The Reserve Bank of India actively intervened in the forex market, selling $8.944 billion in April to bolster the rupee. This follows similar actions in March, as the currency faced pressure from global tensions and investor outflows. However, the rupee showed signs of recovery in June, aided by policy measures and easing geopolitical concerns.
Indian stock markets surged on Monday, with the Sensex and Nifty reclaiming key levels. This rebound was fueled by a dip in crude oil prices, substantial foreign fund inflows, and positive developments in US-Iran diplomatic talks. Heavyweights like Reliance and HDFC Bank led the recovery, boosting overall market sentiment and encouraging cautious optimism among investors.
Stock market recommendations: Motilal Oswal Wealth Management Research Desk has picked State Bank of India (SBI), and Bharat Electronics as the top stocks to buy for the week starting June 22, 2026. Target prices and upside targets have been given:
India continues to be the Asian Development Bank's top market for private sector investments. The ADB plans to inject approximately $1 billion in direct financing this year, aligning with India's development goals. This follows a significant $2 billion channeled into India's private sector last year. The bank will maintain this momentum, focusing on green energy, e-mobility, and urban infrastructure, while also boosting trade and supply chain finance.
