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Indian banks witnessed robust credit growth in the June 2026 quarter, with some lenders seeing advances surge significantly. However, a widening gap emerged as deposits declined for select banks like Bank of Baroda, IDBI, and RBL. Public sector banks maintained a steadier credit-deposit growth, while private lenders adjusted liabilities. Factors like a new credit guarantee scheme and supply chain issues fueled loan demand.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/bJxT3vV
Indian equity benchmarks closed higher on Friday, buoyed by positive global sentiment, falling crude oil prices, and anticipation of a softer interest rate environment. The Nifty 50 and BSE Sensex both saw gains, with the Nifty 50 ending the week nearly 1% up. Realty and IT sectors led the gains, while PSU Banks and Auto sectors experienced declines. The rupee also strengthened against the dollar.
The proposal has gained traction following multiple meetings held over the past two weeks involving senior government ministers, officials from the Reserve Bank of India, banks and representatives of the gold industry, the report said.
Bank of Baroda has settled a major legal dispute, agreeing to pay $600 million to administrators of the collapsed NMC Health group. This out-of-court agreement concludes years of litigation concerning cross-border insolvency and alleged fraud following NMC's 2020 downfall. The payment will be distributed to creditors, with the bank's shares seeing a reaction to the news.
Top stock market recommendations: REC, Oberoi Realty, and Home First Finance Company India have been recommended by Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth Management as top stocks to buy on July 2, 2026. He has also shared his views on Nifty and Bank Nifty.
The Reserve Bank of India's intervention to shield the rupee from volatility, fueled by Middle East tensions, has widened its net short forward position to a record $106.6 billion. Despite a recent dip to a historic low, the rupee has shown recovery, buoyed by anticipated foreign capital inflows. These expected inflows are seen as a potential avenue for the RBI to reduce its forward position and bolster foreign exchange reserves.
Global central banks are boosting gold reserves amidst rising geopolitical risks, with a significant portion planning to reduce US dollar exposure. A new survey reveals a strategic shift towards gold for protection, while the euro and renminbi are eyed as alternatives, though not without their own challenges. Central banks are also increasingly embracing AI for operational improvements, adapting to a world of persistent uncertainty.
Stock market recommendations: JSW Energy, Biocon, BHEL, and City Union Bank - these are the top stocks to buy recommended by Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan for June 30, 2026:
China's financial watchdogs are tightening credit standards, prompting investors to re-evaluate their bond holdings for potential downgrades. This move aims to curb the unusually high number of top-rated AAA issuers, a situation exposed by recent corporate defaults. The People's Bank of China is reportedly introducing new metrics, potentially impacting issuers with wider yield spreads. This scrutiny could shake up the domestic bond market and test its recent rally.
Stock market recommendations: TVS Motor Company, and Vijaya Diagnostic Centre are the top stock recommendations by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities for the June 29-July 3, 2026 week. The analyst has also shared his views on Nifty and Bank Nifty:
Starting July 1, 2026, several financial changes will affect you. Income tax filing deadlines are set, and updating your Aadhaar email becomes free for a period. Expect shifts in SBI Card rewards and HDFC Bank credit card lounge access eligibility. Passport fees are rising, and new RBI rules will protect bank customers from mis-sold financial products, ensuring refunds and compensation.
India's debt market requires urgent structural reforms to fund its ambitious economic growth, warns Deloitte. The report highlights that relying solely on bank deposits is no longer viable as household savings shift. To achieve its $7.3 trillion economy target by 2030, the market needs greater depth, liquidity, and integration to efficiently bridge the rising capital gap and support national economic aspirations.
