Issue: 1283
·
Uttar Pradesh has emerged as India's largest highway toll
revenue generator, collecting Rs.8,862.12 crore in user fees from National
Highways and Expressways during 2025-26.
·
India's mobile phone exports jump 165-fold in a decade to Rs.2.59
lakh crore: Govt.
·
‘Will use FCNRB (B) funds to cut bulk deposit reliance’:
Canara Bank MD & CEO Brajesh Kumar Singh.
·
Lok Sabha Passes Public Examinations (Prevention of Unfair
Means) Amendment Bill, 2026.
·
SBI raises Rs.4,691 crore via AT-I bonds at 7.75%, first
issuance in FY27.
·
Scindia announces India's first Telecom Manufacturing Zone in
Gwalior.
· India overtakes China as
world's second-largest seafarer supplier placing it behind only the
Philippines.
Services sector showed
moderation in May: Formal services sector showed some moderation in
May as only 8 out of 19 sub-sectors recorded double-digit growth as against 14
in April, per Sub-Sectoral Trial Index of Services Production (ISP), released
on Wednesday. Though ‘Accommodation and Food’ continues to be top
performer in the month, but its growth rate has come down to 27.4 per cent in
May as against 37.2 per cent of April. At the same time, ‘Postal and Courie’
and ‘Information & Broadcasting’ joined ‘Air Transport’ in the list of
sub-sectors recorded de growth. However, ‘Railway Transport’ moved to growth
territory in May from de-growth in April.
(Business Line)
Finance Ministry calls for
swift policy response to global realities: The Finance Ministry said
India has to reinvent itself and reimagine its responses to pressing global
realities if it has to achieve strategic leverage, given the mounting
uncertainties around artificial intelligence and weaponisation of trade. As
external conditions evolve, prudent macroeconomic management and swift policy
responses will remain important in shaping India’s economic trajectory, the
Monthly Economic Report by the finance ministry said. Global developments related
to AI and weaponisation of supply chains in general are reminders of the
distance India needs to travel to achieve long-term resilience and strategic
leverage, the report said.
(Business Standard)
Fed leaves rates unchanged;
three policymakers dissent in favour of a hike: The US Federal Reserve held
interest rates steady on Wednesday, a decision that may intensify questions
about how US central bank chief Kevin Warsh will deliver on his commitment to
bring inflation back to the 2 per cent target. The widely expected decision to
leave the benchmark interest rate in the 3.50-3.75 per cent range drew dissents
from three of the 12 members of the policy-setting Federal Open Market
Committee (FOMC), who "preferred" a quarter-percentage-point rate hike
at this meeting. The same three policymakers — the presidents of the Cleveland,
Dallas and Minneapolis Federal Reserve banks — had also dissented at Jerome
Powell's final meeting as Fed chair in late April, when they favoured removing
the implied promise of lower interest rates.
(Business Standard)
Irdai approves Patanjali,
DS Group’s Rs 4,500-crore Magma General buyout: The Insurance Regulatory and
Development Authority of India (Irdai) has approved the Rs.4,500-crore
acquisition of Magma General Insurance by Patanjali Ayurved and DS Group from
Adar Poonawalla-owned Sanoti Properties, more than one-and-a-half years after
the deal was originally announced. “…the IRDAI vide its letter dated July 28,
2026, has granted approval with respect to proposed acquisition of shares along
with the terms and conditions for the said acquisition. The approval shall be
valid for a period of 3 months from the date of the IRDAI communication,” Magma
General Insurance said in an exchange filing on Wednesday..
(Financial Express)
RBI’s SNFA guidelines:
Banks may get selective on property settlements: Banks are likely to become
more selective in accepting land and buildings as part of bad-loan settlements
after the Reserve Bank of India (RBI) tightened governance, valuation and
disposal norms for specified non-financial assets (SNFAs). SNFAs include
residential and commercial properties, industrial land, warehouses, among
others. “The guidelines indirectly propose that banks focus on their core
business operations and impose restrictions and guidelines on transactions in
immovable assets in satisfaction of claims on borrowers,” said Biby Augustine,
joint general manager and head, collection and recovery, South Indian Bank.
(Financial Express)
J&K Bank profit falls
12.5% on higher provisions: Jammu & Kashmir Bank on
Wednesday reported a 12.5% year-on-year decline in its net profit for the
quarter ended June to Rs 424 crore due to higher provisions and lower other
income. On a sequential basis, the bottom line declined 46.8%. The net interest
income grew by 2.2% on year to Rs 1,497 crore while the net interest margins
declined by 24 basis points to 3.28%. This margin compression resulted from a
conscious, strategic decision to maintain credit growth by lending to
well-rated corporates at competitive rates and raising deposits at higher
costs. The gross NPA ratio improved
to 2.37% from 2.50% from a quarter ago and the net NPA ratio stood at 0.6% from
0.64% as on March-end. Provisions increased sharply to Rs 84 crore from Rs 15
crore a year ago.
(Financial Express)
Gold loan NPAs may rise as
NBFCs shift to monthly installments: Gold loan NPAs may increase as
lenders shift to monthly installments. The overall gold loan market is
projected to grow over thirty percent. This expansion will take the market to
thirty lakh crore by March 2028. NBFCs' market share is expected to rise to
twenty-three percent by 2027-28. New players and banks entering the segment
support this strong growth outlook.
(Economic Times)
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)
Chandigarh tops RBI
ombudsman grievances rates in FY25: Under the revamped Integrated
Ombudsman Scheme, effective July 1, customers must first approach the regulated
entity concerned. According to latest data, Chandigarh tops RBI Ombudsman
complaint rates in 2024-25 (FY25), at over four-and-a-half times the all-India
average. The total number of complaints reported saw a 13.55 per cent rise in
FY25 from the previous year, reaching 1.33 million. Within this total, loans
and advances have emerged as the single-largest complaint category in FY25. For
the first time since FY21, private banks overtook state-run lenders in
complaints. Complaints against non-banking financial companies also gained
ground over the same period.
(Business Standard)
Tripura govt partners NSE
to boost MSME funding, financial literacy: The Tripura government has signed three Memorandums
of Understanding (MoUs) with the National Stock Exchange (NSE) to strengthen
financial literacy, promote entrepreneurship and create a more vibrant
investment ecosystem in the state. The initiative, announced on Tuesday (July
28), aims to improve financial awareness, support MSMEs, build the skills of
government officials and familiarize young people with capital markets and
financial planning. Chief Minister Professor (Dr.) Manik Saha described the
partnerships as an important step toward opening a new era of economic
development through better access to capital markets. In a social media post,
he said, “These strategic partnerships will empower our youth, support Ministry
of Micro, Small and Medium Enterprises of India (MSMEs), enhance the capacity
of government officials and promote a vibrant investment ecosystem.”.
(Financial Express)
Shailesh Jejurikar named
chairman of P&G, world's most valuable FMCG firm: The world’s most valuable consumer goods
company, US-based The Procter & Gamble Company (P&G), on Wednesday
announced that its global chief executive officer and president, Shailesh G
Jejurikar, will also take charge as chairman of the board effective August 1.
He takes over from Jon Moeller, executive chairman, who will retire from the
board effective July 31, and from P&G effective August 14, according to the
NYSE listed company’s announcement on its website.
(Business Standard)
Just 10 Indians
command nearly a fifth of Rs.104 trn wealth: 360 One report: India is home to 3,040 individuals worth
at least Rs.425 crore each, together commanding over Rs.104 trillion in wealth
— nearly a fifth of which, or Rs.19.72 trillion, is held by just 10 people,
according to a joint report by 360 One and Crisil Intelligence. The bottom half
of these individuals, around 1,520 Indians, account for only around 9 per cent
of the total Rs.104 trillion in wealth. Women account for 24 per cent of the
wealth creators, or 738 of the 3,040 individuals. They hold Rs.22.6 trillion in
wealth, accounting for about 23 per cent of the total wealth covered in the 360
One Wealth Creators List 2026.
(Business Standard)
Panel seeks to make SEBI's
enforcement framework more legally sustainable: The Parliamentary Standing Committee's
recommendations on the proposed Securities Markets Code (SMC) are expected to
make SEBI's enforcement framework more structured and legally sustainable by
introducing stronger procedural safeguards while retaining the regulator's
broad enforcement powers, legal experts said. The committee has proposed
several changes to the draft legislation, including deleting a provision that
would have allowed SEBI to define new criminal offences through regulations,
introducing functional separation between investigation and adjudication,
extending the probe period to one year, strengthening investor grievance
mechanisms and tightening procedural safeguards around enforcement.
(Business Line)
MSME Amendment Bill 2026:
How the proposed changes could benefit small businesses: The Micro, Small and Medium Enterprises
Development (Amendment) Bill, 2026 was introduced in the Rajya Sabha Tuesday by
Union MSME Minister Jitan Ram Manjhi. The Bill seeks to amend the MSME
Development Act, 2006, with measures aimed at improving payment mechanisms,
simplifying compliance and speeding up dispute resolution for micro, small and
medium enterprises. A key proposal in the Bill makes it mandatory for
Central Public Sector Enterprises (CPSEs) to route settlement of invoices for procurement
from MSMEs through the Trade Receivables Discounting System (TReDS). The proposed bill also
provides for a national digital platform for free and voluntary MSME
registration.
(Financial Express)
NPCI plans to mask phone
numbers on UPI apps to boost user privacy: The National Payments Corporation of India
(NPCI) is working with banks and UPI apps to strengthen user privacy by
reducing the amount of personal information visible during digital payments,
according to a report by Moneycontrol. The move comes as the Digital Personal
Data Protection (DPDP) Act reshapes how organisations handle personal data,
with mobile numbers and full names increasingly viewed as sensitive
information.
(Business Standard)
SUBSCRIPTION TRAP (In marketing)
§ The
process of - (i) making cancellation of a paid subscription impossible or a
complex and lengthy process; or (ii) hiding the cancellation option of a
subscription; or (iii) forcing a user to
provide payment details or authorization for auto debits for availing a free subscription; or (iv) making the instructions related to
cancellation of subscription ambiguous, latent, confusing, cumbersome..
§ For
example: Making it easy for customers to sign up for a product / service (e.g.,
credit card, insurance product, etc.) but making the procedure for cancelling
the same significantly cumbersome like not providing a direct link for
cancellation, keeping the cancellation option in complex navigation requiring
multiple confirmation steps.
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 : 95.7170
INR
/ 1 GBP : 127.2778
INR
/ 1 EUR : 109.0603
INR
/100 JPY: 58.5300
EQUITY INDEX
Sensex:
77654.60 (+888.68)
NIFTY:
24250.20 (+264.85)
Bnk NIFTY: 57205.90 (+450.30)
International Day of Friendship: July 30 is
officially celebrated as the International Day of Friendship, alongside other
global observances like World Day against Trafficking in Persons and
Independence Day in Vanuatu.
Historical events: 30 July has
witnessed several significant events in both Indian and world history. On this
day in 1947, the All India National Language Conference deliberated on the
adoption of Hindi as the official language of independent India, contributing
to the language debates that shaped the Constitution. Internationally, 30 July
1930 marked the first FIFA World Cup Final, in which Uruguay defeated Argentina
4–2 in Montevideo to become the inaugural football world champion.
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