Issue: 1282
·
Centre introduces 'One Officer, One Official car' policy,
bars multiple govt vehicles for bureaucrats: Report.
·
Shriram Finance keeps banking option open for future.
·
India's Toy Exports Soar 89.1%, Reflecting Strong Growth in
Domestic Manufacturing.
·
Gross Non-Performing Assets of PSBs at historic low of 1.9%
in FY 2025–26, achieve highest-ever net profit of Rs. 1.98 lakh crore;
aggregate business reaches over Rs.283 lakh crore.
·
Canara Bank to frontload ECL provisioning, plans Rs.8,000 cr
capital raise.
IIP growth near 2-year high
in June at 7.3%; Manufacturing, electricity drive growth: Driven by a strong performance in
manufacturing and electricity alongside a favorable base effect, India’s
industrial output surged to a 23-month high of 7.3 per cent in June, up from a
revised 5 per cent in May, government data showed on Tuesday. “In June, Index
of Industrial Production recorded a 7.3 per cent year-on-year growth, supported
by 7.8 per cent growth in manufacturing sector and strong growth of 10.6 per
cent in electricity and gas supply sectors,” the National Statistics Office
said in a release.
(Business Line)
India's Exports Scale
Record US$ 863.1 Billion in FY 2025–26, Driven by Strong Trade with UAE, UK and
Australia: India recorded highest-ever
exports in FY 2025-26 reaching a record US$ 863.1 billion, with merchandise
exports reaching US$ 441.8 billion and services exports expanding further to
US$ 421.3 billion, reflecting the combined strength of India’s merchandise and
services sectors in driving export growth. India's FTAs Deepen Global
Market Access, Boost Export Diversification and Labour-Intensive Sectors.
(PiB)
Government imposes stock
holding limits on sugar dealers to prevent hoarding, protect consumer interests: The Government of India has
decided to impose stock holding limits on sugar dealers across the country with
effect from 1st August, 2026. The order will remain in force up to 30th
November, 2026. In order to curb hoarding, discourage speculative trading and
ensure the continuous availability of sugar at reasonable prices, the
Government has decided to impose stock holding limits on sugar dealers. The
measure is aimed at maintaining orderly supplies in the domestic market,
safeguarding consumer interests, and ensuring that genuine trade and
distribution activities continue without disruption.
(PiB)
Banks collected over Rs
7,000 crore from account holders in FY26 for not maintaining minimum balance: Private sector banks collected
Rs 4,948.71 crore from customers in FY26 as charges for failing to maintain the
minimum average balance in savings and current accounts, the government
informed Parliament on Tuesday. In a written reply to the
Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said public sector
banks (PSBs) collected Rs 2,137.92 crore under the same head during the
financial year, citing Reserve Bank of India (RBI) data. Among private lenders,
HDFC Bank recorded the highest collections at Rs 1,798.14 crore, followed by
Axis Bank with Rs 1,081.33 crore. Together, the two banks accounted for Rs
2,879.47 crore, or 58% of the total charges collected by 19 private sector
banks.
(Moneycontrol)
Delhi HC orders winding up
of Paytm Payments Bank; former SBI CGM appointed official liquidator: The Delhi High Court has
ordered the winding up of Paytm Payments Bank Ltd. (PPBL), months after the
Reserve Bank of India (RBI) revoked the bank's licence over persistent
regulatory violations. The central bank announced the development on Tuesday,
marking the formal commencement of the bank's liquidation process. The
court has appointed Girikumar M. Nair, former Chief General Manager of the
State Bank of India (SBI), as the Official Liquidator of the bank.
(Business Line)
In FCNR (B) race, small
banks raise deposit rates to woo NRIs: Small and mid-size banks don’t
want to be left behind in the race to mobilise fresh foreign currency
non-resident (bank)/ FCNR (B) deposits. They are playing the “interest rate”
gambit. These banks are overcoming the inability to offer leverage to their
non-resident Indian (NRI) customers by upping interest rates on these deposits
so that their customers don’t shift elsewhere. For example, Equitas Small
Finance Bank (SFB) has upped its interest rate on FCNR (B) deposits of $10,000
and above and in the 3-5 years tenor from 7.13 per cent to 7.52 per cent.
(Business Line)
PSUs seek 3 month extension
for concessional forex swap: Leading Public Sector
undertakings (PSUs) have requested the Reserve Bank of India (RBI) to extend
its special concessional foreign exchange swap facility by three months past
its current December 31 deadline to support capital expenditure. In a recent
high-level meeting with central bank officials, representatives from leading
PSUs urged the regulator to keep the concessional window for External
Commercial Borrowings (ECBs) operational through the final quarter of the
financial year.Industry sources familiar with the discussions highlighted that
the bulk of annual capital expenditure and debt raising by public sector firms
takes place in the fourth quarter. An extension through March 2027 would ensure
uninterrupted access to lower-cost foreign currency hedging, facilitating
higher mobilisation of funds for large-scale projects.
(Financial Express)
BoB hit by cyberattack; 1
TB of data allegedly leaked: State-run Bank of Baroda (BoB)
has suffered a major cyberattack in which nearly 1 terabyte (TB) of customer
and corporate data was allegedly leaked on the dark web. Cybersecurity experts
said the leaked data includes customer application forms, Aadhaar details, loan
records, branch documents, internal audit files, and corporate IT data. Bank of
Baroda on Monday said the breach originated from an employee’s email account,
which resulted in unauthorised access to certain data. However, it clarified
that its core banking systems were not compromised and remain secure..
(Financial Express)
Regional Rural Banks (RRBs)
Post Highest-Ever Net Profit of Rs. 10,177 Crore in FY 2025–26: The financial health of RRBs
has improved in the recent years. RRBs posted the highest ever consolidated net
profit of Rs. 10,177 crores during FY 2025-26. RRBs have also shown consistent
improvement in key financial parameters like Capital to Risk Weighted Asset
Ratio (CRAR), deposits, advances, Non-Performing Asset (NPA), Credit-Deposit
Ratio (CD ratio) etc. This information was given by
Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in Rajya
Sabha.
(PiB)
SIP inflows of most listed
MFs hit a bump: The early signs of a
slowdown in SIP inflows is visible in the top listed mutual fund houses, with
most reporting a fall or flattish growth on sequential basis in the June
quarter. The top three fund houses ICICI MF, HDFC MF and Birla MF have reported
a marginal fall in SIPs on a sequential basis in the June quarter, which
suggests that investors who started SIPs in recent months are either pausing
their investments or stopping them completely due to lacklustre returns. However,
monthly SIP inflows are holding above the Rs.30,000-crore-mark due to addition
of new investors. The industry’s SIP stoppage ratio has been at 96 per cent so
far this fiscal, marginally higher than 95 per cent in most part of last year.
(Business Line)
Govt considering proposal
to ease FDI norms for downstream investments: Sources: The government is considering a proposal to
ease foreign direct investment (FDI) norms for downstream investments to boost
overseas fund inflows and create jobs, sources said. The proposal is currently
under inter-ministerial discussions, they said. The government has in recent
years undertaken a series of reforms aimed at liberalising the country's FDI
policies with the goal of stimulating economic growth and encouraging foreign
capital inflows.
(Business Line)
SBI, HDFC Bank
seek $1.7 billion overseas to boost dollar resources: State Bank of India and HDFC Bank are
raising significant dollar funds. These large Indian banks are borrowing from
foreign institutions to boost reserves. The banks aim to leverage the Reserve
Bank of India's special dollar attraction facility. This move allows them to
attract overseas client deposits without hedging costs. Both institutions are
actively participating in the international dollar funding market.
(Economic Times)
FCNR(B) deposit
drive could pressure banks' profitability: Banks' leverage on FCNR(B) deposits could
pressure profit margins. Overseas interest rates are lower, and lending spreads
remain thin. This impacts banks with lower funding costs, like ICICI Bank and
HDFC Bank. The FCNR(B) scheme has mobilized over $32 billion by mid-July.
Deployment of these funds profitably is key for banks' success.
(Economic Times)
Ministries told to form
quick response teams to fight fake online content: The central government has
directed all ministries and departments to immediately set up Quick Response
Teams (QRTs) to detect fake content on social media in real time. The move
comes days after Delhi Police said false information linked to the recent
students’ protest was being circulated through fake social media posts. Sources
familiar with the matter said a recent government communication stated that the
QRTs should detect fake content related to their respective ministries and
departments in real time, and post a response on their official social media
handles within two hours of the origin of the fake or misleading content. Officials
are of the view that since rumours spread rapidly on social media, the official
response must be equally swift, the sources said.
(Business Standard)
Banks double cyber
insurance cover to $100 mn as digital threats intensify: Banks and financial institutions have doubled
their cybersecurity insurance cover over the past five years to as much as $100
million, as rising cyberattacks, higher claim severity, and tighter regulatory
scrutiny push lenders to seek greater protection against digital risks. The sum
insured taken by banks has risen to $50-100 million in 2025-26 (FY26) from
$10-25 million in 2020-21, according to insurance industry experts.The increase
comes amid a rise in cyberincidents and claim severity, prompting lenders to
reassess their insurance requirements annually and, in some cases, even during
the policy period. Stricter regulatory reporting requirements have also pushed
financial institutions to reinforce their cover.
(Business Standard)
Govt introduces Bill in RS
to tackle payment delays faced by MSMEs: The government on Tuesday introduced a Bill in
the Rajya Sabha that seeks to tackle the issue of delayed payments to micro
small and medium enterprises (MSMEs) by prescribing timelines to ensure faster
adjudication of disputes, provide recovery of the settlement agreement, and
address their liquidity issues. Union Minister for MSMEs Jitan Ram Manjhi
introduced the Micro Small and Medium Enterprises Development (Amendment) Bill,
2026 in the Rajya Sabha. The Bill seeks to amend The Micro, Small and Medium
Enterprises Development Act, 2006 Notably, the proposed legislation seeks to empower
courts to order payment of at least 50 per cent of the awarded amount to MSME
suppliers, if the application to set aside an order is pending for more than
six months. It also seeks to provide recovery of the mediated settlement
agreement or the arbitral award as arrear of land revenue..
(Business Standard)
TERM SHEET
§ A
term sheet is a nonbinding form outlining an investment's basic terms and
conditions. It is a template for more detailed, legally binding documents. A
contract is created when all parties agree on the details in the term sheet.
§ The
term sheet covers the significant aspects of a deal without detailing every
minor contingency covered by a binding contract. All term sheets contain
information on the assets, price, and any contingencies that may affect the
cost.
RBI KEY RATES
Repo
Rate: 5.25%
SDF:
5.00%
MSF
/Bank Rate: 5.50%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 95.7954
INR
/ 1 GBP : 127.3530
INR
/ 1 EUR : 108.9280
INR
/100 JPY: 58.5200
EQUITY INDEX
Sensex:
76765.92 (-69.86)
NIFTY:
23985.35 (-10.60)
Bnk NIFTY: 56755.60 (-331.60)
International Tiger Day: July 29 is
celebrated as International Tiger Day (also known as Global Tiger Day), an
annual event created in 2010 at the Saint Petersburg Tiger Summit.
Historical events: 29 July has
witnessed several significant events in Indian and world history across
politics, science, culture, and sports. On this day in 1987, India and Sri
Lanka signed the historic Indo–Sri Lanka Accord, with Indian Prime Minister
Rajiv Gandhi and Sri Lankan President J.R. Jayewardene agreeing on measures to
end the Sri Lankan civil conflict, leading to the deployment of the Indian
Peace Keeping Force (IPKF).
****Have a nice Day****
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