BUSINESS
India set for a second consecutive rate cut in April amid global central bank caution on easing
In India, economists say macroeconomic conditions are better placed due to lower inflation, which is below the RBI’s medium-term target of 4 percent, and a growth bounceback in the third quarter of this fiscal year, which may lead to a 25 bps rate cut in the April monetary policy.
BUSINESS
Non-bank bond brokers hesitant to opt for NDS-OM platform over cost burden
RBI’s norms say that entities eligible to seek direct access to NDS-OM must have Subsidiary General Ledger (SGL) with the RBI, a Current Account with the Reserve Bank or a Designated Settlement Bank, and membership of securities settlement segment of the Clearing Corporation of India (CCIL).
CURRENCY
Rupee ends near three-month high against dollar after erasing most of its losses for 2025
In 2025, the local currency was down 0.03 percent. The local currency ended at best in over two months and best since January 1, 2025, when it was trading at 85.6488 against the US dollar, according to the Bloomberg data.
BUSINESS
Rupee logs best week in over 2 years; here are three major reasons
The local currency rose to a 10-week high of 85.9375 during the session and gained 1.2% in the week. This has been the best level for the rupee since January 9, when it traded near 85.8638 against the US dollar.
BUSINESS
IndusInd Bank, HDFC Bank biggest issuers of CDs among private lenders this month
IndusInd Bank raised Rs 17,550 crore through CDs, which is 10.2 percent of the total issuances, and HDFC Bank raised Rs 19,640 crore, which is 11.4 percent of the total
BUSINESS
Rupee logs best week in over two years on the back of dollar inflows, strengthens above 86/$
The Indian rupee has been on the appreciating spree for the last few sessions, on dollar liquidity provided by the Reserve Bank of India (RBI) through USD/INR Buy/Sell swap auction, and regular interventions by central bank, experts have said.
BUSINESS
Policymakers have to balance rising prices amid tariffs, currency depreciation, says RBI bulletin
The bulletin said despite the turbulent global environment, the Indian economy continues to demonstrate resilience because the growth momentum is supported by robust sectoral performance and improving consumption trends.
BUSINESS
Banks relying on CDs for funding requirement amid credit-deposit growth mismatch: RBI Bulletin
In the primary market, issuances of CDs grew by 34 percent on-year to reach an all-time high of Rs 10.58 lakh crore during 2024-25 (up to March 7, 2025), RBI bulletin said.
BUSINESS
RBI Bulletin says economic indicators showing sustained momentum in Q4FY25 growth
The Indian economy recovered in the December quarter to grow at 6.2 percent after sinking to a seven-quarter low of 5.6 percent in the July-September period, according to data released on February 28.
BUSINESS
Derivatives issue specific to IndusInd Bank, not an industry-wide problem, RBI review likely to say
On March 12, Moneycontrol reported that RBI had begun a review of derivative books of private and state-owned banks after IndusInd Bank reported discrepancies in accounting related to forex derivatives
BUSINESS
SBI likely the top investor in IndusInd Bank’s CDs
Moneycontrol reported on March 18 that state-owned banks subscribed to the bulk of Rs 12,850-crore worth of certificates of deposits issued by IndusInd Bank
BUSINESS
Ashok Hinduja says it is 'opportune time' to increase stake in IndusInd Bank
IIHL also announced the completion of Reliance Capital's acquisition
BUSINESS
RBI retail direct total primary market subscription rises 51% on-year in March
Majority of the subscription has come into treasury bills, which is almost double of the previous year
BUSINESS
PSU banks likely subscribed Rs 12,850 crore of CDs issued by IndusInd Bank on March 17
According to the Clearing Corporation of India data, IndusInd Bank raised Rs 11,000 crore worth of CDs on March 11 and Rs 1,850 crore on March 10
BANKING
Banks need to identify roadmaps for timely capital raising: DFS secretary Nagaraju
He also said that banks also need to do efficient allocation of resources besides striving to bring down intermediation costs
BANKING
IBA must drive innovation, strengthen regulation for Viksit Bharat: DFS secretary Nagaraju
Nagaraju highlights the need for the association to establish uniform ethical and operational standards, facilitate policy dialogue with the government
BUSINESS
Mumbai Police’s EOW may question RBI officials in the New India Cooperative Bank case
The questioning of RBI officials could be based on the inspection conducted on the cooperative bank, to examine what prompted the officials to give a positive report when there were discrepancies.
BUSINESS
Slower-than-expected inflation opens door wider to April rate cut
Retail inflation eased to a seven-month low of 3.61 percent in February, as food inflation eased further, according to data released by the government on March 12
BUSINESS
RBI starts industry-wide review of derivative positions after IndusInd Bank fiasco
The RBI wants to ascertain if more banks are in non-compliance of its derivative trade rules and also wants to compliance on the treasury front
BUSINESS
Torres Ponzi Scheme: EOW continues to receive 100-150 complaints per day
As per reports, the investigation is still going on the case and more than 10,000 complaints have been filed amounting to over Rs 177 crore.
BUSINESS
More arrests likely in New India Cooperative Bank case as probe gathers pace
EOW officials have confirmed to Moneycontrol that on March 11, the Mumbai police has conducted Polygraph Test, also called a lie detector test on Hitesh Mehta at Forensic Science Laboratory in Mumbai's Kalina. During the test, 50 questions were asked and reports of the test is expected on March 17, police officials said.
BUSINESS
Bankers fear strain on deposit mobilisation after IndusInd Bank derivative loss
As the accounting discrepancy has come to light in March, a busy period for deposit mobilisation, it could hurt banks efforts to garner large deposits, bankers say
BUSINESS
IndusInd Bank may take Rs 1,500 crore charge on derivatives portfolio adjustment
Kathpalia said that the external agency’s review is expected to be done by the fourth quarter of the current financial year and estimated the impact at 2.35% of the bank’s net worth as of the December FY25 quarter.
BUSINESS
Govt gets 20 queries each from merchant bankers, legal advisors for minority stake sales in PSU banks, financial firms
On February 24, the government had invited bids to appoint merchant bankers and legal advisers to sell part of the government's holdings in select public sector banks and public financial institutions through SEBI-approved methods, according to the Department of Investment and Public Asset Management's notification.
