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On November 21, the local currency depreciated to a record low of 89.49 against the US dollar due to outflows from foreign investors from Indian equities, uncertainty over a US-India trade deal, and absence of RBI's support sparked the slide in the rupee.
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With this fall, the local currency is down by 0.86 percent against the US dollar as compared to November 20. Indian rupee has seen a biggest intra-day fall of 67 paise, which is highest since May 8, 2025, when it depreciated 89 paise.
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The bank is likely in talks with large sovereign funds such as GIC for a capital raise, expected to be rolled in a month or two, depending on investors’ feedback. Rajiv Anand, MD & CEO, said to be in Singapore currently on roadshows ahead of fund raise.
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The MPC will meet between December 3 and 5 for another round of rate setting deliberations.
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India’s retail inflation eased sharply to 0.25 percent in October, its lowest level in the current series that began in 2013, down from 1.44 percent in September.
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While the incident occurred on August 8, 2023, it was escalated to the bank’s board much later and has caught the regulator’s attention in the current year’s annual inspection.
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In April this year, Shalabh Saxena quit the company and stepped down as MD & CEO with immediate effect. Ashish Damani, the then CFO, was elevated as interim CEO.
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The MD and CEO of Piramal Finance said the NBFC would start its new innings on the stock exchanges on a clean slate, and is all set to meet the 3 percent RoA target in the coming years.
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Ajai Shukla has held multiple leadership roles across Tata Capital and its housing finance arm. An official announcement regarding the appointment is expected shortly, it is learnt.
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MUFG likely to invest $3-4 billion in India’s largest vehicle financier; Japanese lender will infuse fresh capital into the lender and secure two board positions.
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US Federal Reserve’s by 25 bps rate cut has increased the scope for policy flexibility for emerging markets like India, however, economists believe the Reserve Bank of India (RBI) will keep its focus on growth and inflation in framing the policy stance at the upcoming December monetary policy meeting.
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The Yes Bank-SMBC and RBL-Emirates NBD deals have opened doors for more such deals to happen in Indian banking ecosystem
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Citi India CEO said renewables, semiconductors, electronics and battery energy storage are some of bright pockets where capex is expected to rapidly grow in the coming years.
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Citi ranks No 1 in business with multinational, enjoys 35% market share in custodian biz, 14% share in forex and 8% market share in imports and exports biz
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The approval of the SPA and the subsequent invitation of financial bids will mark the final phase of the long-awaited IDBI Bank privatisation process that has been underway since 2021.
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The pipeline of companies waiting to hit the market is quite robust and there could be a meaningful spill over to early 2026, Balasubramanian tells Moneycontrol in an interview
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Media reports had said that Indian Overseas Bank (IOB), Central Bank of India (CBI), Bank of India (BOI) and Bank of Maharashtra (BOM) could be merged with big banks such as Punjab National Bank (PNB), Bank of Baroda (BoB) and State Bank of India (SBI).
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The sources cited add that EOW will question Siddharth Banerjee, head of global market and financial institutions group, in the coming days. A few employees who were part of the former DMD's team may also be called for questioning.
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Since the beginning of the year, global uncertainties have increased, starting with tariff imposition by the US, India-Pakistan tensions, and the Iran-Israel unrest which led to a strong US military action.
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Sources indicate that Emirates NBD will infuse fresh capital at Rs 295 a share to take a 51% stake in RBL Bank. Emirates will take five board position in RBL Bank and subsequently through an open offer pick up an additional 25% stake. RBL Bank may be merged with Indian operations of Emirates NBD, though the wholly owned subsidiary mode
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Both investors are said to have initiated the exit process and are mulling various options including a listing for the company or a secondary sale.
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Emails accessed by Moneycontrol indicate that IndusInd Bank’s former CFO Arun Khurana was aware of fraudulent accounting practices adopted for foreign derivative contracts. Separately, days ahead of the Grant Thornton audit report, CHRO Zubin Mody had calls with select employees where he was quoted as saying, 'say everything you know'
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Pankaj Sharma is seen as taking over from Anil Rao, the current head of operations at IndusInd Bank. Anil Rao is set to superannuate in a few weeks and may not to seek an extended tenure.
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The MPC, which has cut rates by 100 bps this year, is expected to hold the rates on October 1, a Moneycontrol poll of economist, fund managers and treasury heads has said
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Moneycontrol had earlier reported that bankers have ruled out a rate cut in the upcoming monetary policy review but they do expect one more cut in the current fiscal
