Specialised equipment maker Kay Bouvet Engineering’s Rs 1,000 crore debt is poised for takeover by NARCL. Banks will see a 13% recovery through NARCL’s Rs 130 crore offer, which faced no competition in a Swiss challenge auction. This marks a potential final acquisition for the bad loan aggregator this fiscal year.Read More

India’s Nifty index shows resilience against potential oil price surges from the Gulf conflict. Companies within the Nifty that supply energy like coal and electricity stand to gain. Demand for these energy sources is expected to rise as alternatives to oil and gas. Conversely, smaller companies face greater impact from rising fuel costs.Read More

U.S. stocks plunged Friday, with major indexes hitting seven-month lows as a Middle East war continued to suppress risk appetite. The Dow entered correction territory, down over 10% from its record high. Rising oil prices fueled inflation fears, dampening hopes for Fed rate cuts.Read More

India’s foreign exchange reserves dropped significantly last week. Gold prices fell, impacting the overall reserves. The Indian Rupee also weakened against the US Dollar. Oil prices rose due to geopolitical concerns. The Reserve Bank of India’s intervention in the currency market was limited. Traders anticipate further Rupee depreciation, with some forecasting levels around 100 against...Read More

Doha Bank is exiting its branch operations in India. The Qatari bank will close its Mumbai and Kochi branches after more than a decade. It will now operate solely through a representative office in the country. This strategic shift was approved by the bank’s board of directors. Doha Bank had launched its India operations in...Read More

The Reserve Bank of India has set a new limit for banks on their foreign currency dealings in the rupee. This move aims to control speculative trading and stabilize the Indian currency. Banks must now keep their open positions within 100 million US dollars each day. This regulation comes as the rupee faces pressure and...Read More

The Indian rupee hit a record low against the dollar, breaching 94 and nearing 95, as rising crude oil prices fueled fears of a prolonged Gulf war. Indian equities also suffered significant declines, marking a fifth consecutive week of losses. Analysts warn of further depreciation for the rupee if the conflict persists and central bank...Read More

The Reserve Bank of India has mandated all market participants, both resident and nonresident, to obtain a valid Legal Entity Identifier (LEI) code. Entities without an LEI will be ineligible for transactions in RBI-regulated financial markets. Participants in the over-the-counter derivative market must also secure a unique transaction identifier.Read More

The Reserve Bank of India’s Payments Vision 2028 introduces a shared liability model for unauthorized digital transactions, placing responsibility on both customer and beneficiary banks. This aims to boost fraud detection and inter-bank coordination. The RBI also plans to expand the ‘switch on/off’ feature, currently for cards, to all digital payment modes, empowering users and...Read More

The yield on India’s 10-year government bond rose sharply Friday. This increase follows a cut in fuel excise duty which impacted the fiscal outlook. High state bond sales and rising oil prices also contributed to the jump. The benchmark yield has seen its biggest weekly rise since May 2022.Read More