RBI
RBI clears reappointment of former Deputy Governor R Gandhi as Yes Bank chairman
Yes Bank announced that the Reserve Bank of India (RBI) has approved the reappointment of R Gandhi, former RBI Deputy Governor, as the part-time non-executive chairman. His term will extend from September 20, 2025, to May 13, 2027. Gandhi, a seasoned central banker with 37 years of experience, previously served as RBI Deputy Governor from 2014 to 2017.
Rs 2000 notes worth Rs 5,956 crore still in circulation: RBI
Even after the Reserve Bank of India withdrew Rs 2000 notes, a notable amount remains in circulation. The value of these notes still circulating is Rs 5,956 crore. Since the withdrawal announcement on May 19, 2023, a significant portion of the notes has been returned. The RBI continues to offer exchange and deposit facilities at its 19 issue offices.
108% return on Sovereign Gold Bonds: RBI announces premature redemption price of this SGB series
The Reserve Bank of India has announced the premature redemption price for Sovereign Gold Bonds (SGB 2020-21 Series-VI) at Rs 10,610 per unit, due on September 6, 2025. These bonds, issued at Rs 5,117 per gram in August 2020, offer an absolute simple return of approximately 107.35% upon premature redemption, excluding interest.
Bank holiday today? Are banks open or closed today on September 8, 2025 in your state?
On September 4, 2025, the Reserve Bank of India (RBI) cancelled a public holiday dated September 5, 2025, under the Negotiable Instruments Act in Maharashtra. As a result, there will be no transactions or settlements in government securities, forex, and money markets on September 8, 2025.
RBI panel on financial stability reviews US tariff impact, financial inclusion efforts
The Financial Stability and Development Council convened to address potential economic challenges arising from US tariffs and geopolitical tensions. Discussions centered on simplifying KYC procedures and advancing financial inclusion initiatives outlined in the National Strategy for Financial Inclusion 2025-30. The council emphasized coordinated regulatory efforts to bolster financial sector resilience and closely monitor emerging risks.
GST cut a near-term cushion, but tariff uncertainties and global risks keep India’s growth outlook delicately poised: Suvodeep Rakshit
GST rate cuts could cushion India’s economy against 50% US tariffs, supporting GDP by 0.3–0.5%. Consumption, income tax relief, and festive demand bolster growth, while inflation may ease to 4–4.5%. RBI could cut rates if growth slips below 6.5%, with trade talks and policy measures shaping near-term outcomes.
Indian exporters lobby RBI for weaker rupee to offset US tariffs
Indian exporters, facing a 30% loss due to Trump's 50% tariffs on US-bound shipments, are lobbying the RBI for a temporary, weaker rupee rate of 103 per dollar for US earnings. This request aims to offset the tariff's impact, but the RBI is hesitant due to potential risks to currency sentiment and reserves.
Wondering why RBI rate cuts haven't made your EMI bill lower? Herein lies the answer
The realities of the bond market, inflation expectations and fiscal uncertainties are complicating matters when it comes to rate cut transmission. Borrowers have been left waiting for relief as the intended benefits of the RBI's rate cut are not filtering through to the lending rates.
Gold on a hot run, central banks and RBI go slow on buys as geopolitics also weighs
Global central banks are showing caution in gold buying. They are navigating geopolitical issues and high prices. The long-term plan to move away from US assets continues. Reserve Bank of India is also watching geopolitical cues. High gold prices are a reason for the slowdown. RBI's gold holdings remain at a record high of 880 tonnes.
Money markets, forex and G-Secs deals to remain closed on September 8: RBI
The Reserve Bank of India (RBI) has announced that financial markets, including government securities, foreign exchange, and money markets, will be closed on September 8, 2025, due to a public holiday declared by the Maharashtra government. Consequently, all settlements due on that day will be postponed to September 9, 2025, and the markets will be operational on September 5, 2025.
Bank holiday of September 5, 2025 cancelled by RBI and new holiday declared on this day for these transactions
The Government of Maharashtra has declared September 08, 2025, as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on September 05, 2025, declared earlier has been cancelled. Read below to know more about what the Reserve Bank of India said in its circular dated September 4, 2025.
Policy must go beyond stability, address structural factors limiting growth
The RBI's discussion paper reviews inflation targeting, questioning the output gap framework's suitability for India. The author argues that India's growth is structurally constrained, causing volatile inflation. He suggests the government should set inflation targets, holding the RBI accountable, and adopt a broader macroeconomic framework addressing structural issues beyond inflation targeting.
RBI imposes Rs 44.70 lakh fine on Bandhan Bank
The Reserve Bank of India (RBI) has levied a penalty of Rs 44.7 lakh on Bandhan Bank due to non-compliance with certain statutory and regulatory norms. An inspection revealed that the bank paid commissions to employees and made manual interventions in account data without proper audit trails. The penalty is based on regulatory deficiencies.
India to become world's third largest economy soon, says RBI Governor Sanjay Malhotra; hails PM Jan Dhan Yojana
RBI Governor Sanjay Malhotra stated that India is poised to become the world's third-largest economy, attributing this growth to the Pradhan Mantri Jan Dhan Yojana. He highlighted the scheme's success in opening 55 crore accounts, fostering financial inclusion and enabling citizens to participate in the nation's economic progress. India's recent GDP growth of 7.8% further supports this positive outlook.
India’s forex reserves up by $3.51 billion to $694.2 billion in week ending August 29
India's forex reserves witnessed an increase of $3.51 billion, reaching $694.2 billion in the week ending August 29, according to RBI data. This rise was driven by an increase in foreign currency assets, gold reserves, and SDRs. The RBI intervenes in the forex market to manage rupee volatility, focusing on maintaining orderly market conditions.
Tread cautiously on inflation targeting
RBI is reviewing its inflation-targeting framework, posing questions about using retail or core inflation to guide monetary policy. The central bank also considers whether the 4% inflation target should be changed, linking it to product market efficiency and capital flows. Discussions include potential alterations to inflation-tolerance bands and replacing the fixed target with a range.
Unlocking tactical opportunities in a dislocated bond market: Axis MF
Despite a supportive macroeconomic backdrop—rate cuts by the Reserve Bank of India (RBI), an upgrade in India’s sovereign credit rating, and subdued inflation—bond markets have been experiencing significant dislocation, according to the latest Acumen note by Axis Mutual Fund Research.
What's next for the rupee after breaching 88 against the dollar?
The Indian rupee is under pressure, hitting new lows against the dollar, prompting concerns among importers and corporates. The RBI's potential response to the weakening currency is uncertain, with some believing they may allow further depreciation to support exporters affected by US tariffs.
RBI to meet bond market this week to discuss second-half borrowing: Report
India's central bank will consult with bond market participants regarding government borrowing for the fiscal year's second half, amidst concerns about rising bond yields and potential treasury losses for banks. Discussions will include feedback on the October-March borrowing schedule and possible solutions to address current market conditions.
Banks urge RBI to issue fewer long bonds amid weak demand
Banks want fewer long-term bonds issued in the second half of fiscal year 2026. They prefer more short-term bonds. Demand for long bonds from insurers and pension funds is weak. State bond supply is high. This mismatch pushes borrowing costs up. The 10-year yield recently increased. Concerns about GST revenue shortfalls also contribute.
Urjit Patel, ex-RBI Governor, gets govt's nod to take the role of IMF executive director
The Appointments Committee has approved the appointment of former Reserve Bank of India governor Dr. Urjit Patel as the Executive Director of the International Monetary Fund for three years. Patel, who previously served as the 24th Governor of the RBI, had the shortest tenure since 1992 after succeeding Raghuram Rajan.
Will Indian banks meet the SWIFT ISO 20022 implementation deadline?
Indian banks are accelerating efforts to fully implement SWIFT's ISO 20022 messaging standard by the November 2025 deadline, driven by directives from the Ministry of Finance and the RBI. Several major banks, including SBI and ICICI Bank, have already migrated to the new system. Failure to comply with the deadline could result in payment disruptions and penalties.
Banks block fund remittances abroad without right code
To control random money outflows, Indian banks are now demanding specific reasons for overseas fund transfers. They are discouraging the use of the 'other services' code. This follows a Reserve Bank of India directive to scrutinize such remittances. Experts say this is leading to inaccurate reporting. Companies struggle to find appropriate codes for certain payments.
RBI may cut rates in December; bond market outlook turning positive: Bandhan AMC’s Suyash Choudhary
Amid global trade tensions, India's bond market outlook is improving. Suyash Choudhary anticipates potential RBI rate cuts due to contained inflation and growth uncertainties. He suggests that most negative factors impacting yields have subsided, creating attractive opportunities for fixed-income investors across the yield curve.
Pvt capex likely to rise 21.5% to ₹2.67 lakh crore in FY26: RBI
A Reserve Bank of India article forecasts a 21.5% surge in private sector capital investment, reaching Rs 2.67 lakh crore in 2025-26. This growth is propelled by strong macroeconomic factors and a potential policy rate cut. Indian firms are entering the fiscal year with improved financial health and diversified funding, fostering a conducive environment for investment, particularly in infrastructure.
Rupee hits all-time low with more trouble ahead: 5 reasons why it is bad for markets
The Indian rupee hit a record low of 88.33 against the US dollar, pressured by US tariffs, FPI outflows, and import hedging. Weakness raises inflation, import costs, trade deficit, foreign capital outflows, and corporate debt servicing challenges. RBI may intervene, but sustained recovery requires tariff rollback.
India bonds rise as fiscal worries ease, US peers up
Indian government bonds saw a slight increase. This is due to reduced worries about fiscal issues after tax changes. Also, higher U.S. Treasury yields boosted market confidence. The benchmark 10-year bond yield moved to 6.4814%. Market anticipates potential measures from the Reserve Bank of India. U.S.
From rising tariffs to changing alliances: 5 ways India can navigate global uncertainties
Long-term growth and stability require strengthening the economy from within, rather than simply reacting to individual policy measures.
RBI sold foreign exchange worth $3.66 billion in spot market in June
In June, the Reserve Bank of India (RBI) became a net seller of dollars, offloading $3.66 billion in the spot foreign exchange market, according to its monthly bulletin. This intervention involved purchasing $1.16 billion and selling $4.82 billion. The rupee depreciated by 0.2% against the dollar during June, trading between 85.3025 and 86.8925.
Forex reserves just $11 billion shy of new high
India's foreign exchange reserves saw a significant increase of $3.5 billion, reaching $694 billion in the week ending August 29, according to RBI data. This surge was primarily driven by a rise in both foreign currency assets and gold reserves, which climbed by $1.7 billion and $1.8 billion, respectively.
AI, RBI nod, Amazon tie-up: How Skydo is powering India’s small exporters
Co-founder Movin Jain says the RBI licence, Amazon partnership, and AI-led compliance are driving the adoption of Skydo’s solutions among first-time and mid-market exporters.
Saturday bank holiday: Are banks open or closed today on September 6, 2025?
All scheduled and non-scheduled banks will observe a public holiday on the second and fourth Saturdays of the month, as per the Reserve Bank of India’s rules.
Sectoral impact: Industry to sit down with RBI for tariff assessment
Reserve Bank of India will meet with industry leaders to discuss the impact of US tariffs. The consultation is planned for September. It will assess how the 50% tariffs affect various sectors. Labour-intensive industries may face significant challenges. The meeting will also cover the India-UK trade agreement. RBI aims to cushion the economy from the fallout.
India bonds to rise as GST cut revenue loss lower than feared
Indian government bonds are poised for a relief rally as revenue loss from tax cuts on consumer items is lower than anticipated. The benchmark 10-year bond yield is expected to trade between 6.48% and 6.52%. Tax cuts, implemented to spur demand amid economic headwinds, are estimated to cost 480 billion rupees.
India’s forex reserves fall by $4.38 billion to $690.72 billion for week ending August 22
India's foreign exchange reserves experienced a decrease of $4.38 billion, reaching $690.72 billion for the week ending August 22, according to RBI data. This decline follows a previous surge and comes after foreign currency assets also saw a decrease. Gold reserves increased, while India's reserve position with the IMF slightly decreased.
Rupee slips 17 paise to 88.26 against US dollar on FPI outflows
The Indian rupee weakened against the US dollar on Monday. It fell to 88.26 due to foreign fund outflows. This decline happened despite positive domestic economic data. The Reserve Bank of India's intervention to protect the rupee led to a drop in forex reserves. Sensex and Nifty indices saw gains in early trading.
Urjit Patel's career journey comes a full circle: From IMF economist to executive director via Reliance & Mint Street
Urjit R. Patel, former RBI Governor, returns to the IMF as Executive Director, appointed by the Indian government. His extensive career includes roles at the RBI, AIIB, and in Indian policymaking. Patel's expertise spans monetary policy, infrastructure finance, and economic affairs, marking a significant appointment for the IMF.
Rupee hits all-time low on US tariff strain; RBI under the lens
The Indian rupee plummeted to a record low against the U.S. dollar due to escalating concerns over increased U.S. tariffs on Indian goods. This move is expected to significantly impact India's export competitiveness, potentially widening the trade deficit and pressuring the current account. Foreign investors have already withdrawn substantial funds from Indian equities, adding to the economic uncertainty.
Industrial credit growth declines to 7.6 pc in June: RBI data
RBI data reveals a deceleration in bank credit growth to 9.9% in June 2025, down from 15% the previous year, with industrial credit growth also declining. Personal loans continue to surge, now comprising 32% of total credit, driven by housing loans. Public sector banks lead in credit growth, while term deposits outpace savings deposits, shifting deposit compositions.
Indonesia bonds to extend edge over India on rate-cut bets
Investors are increasingly favoring Indonesian sovereign debt over Indian bonds, highlighting a shift in Asia’s high-yield markets. The current yield gap between Indonesia’s and India’s 10-year bonds is about 10 basis points. Economists surveyed by Bloomberg expect this gap to double by Q3 2026, indicating expectations of sustained outperformance for Indonesian debt compared with Indian government securities.
Govt sets up committee to examine tax, export clearance issues of manufacturing sector
Amidst high tariffs imposed by the US, the government has formed a committee to address tax and export clearance issues faced by manufacturing units. The committee, comprising representatives from various ministries and industry bodies, will examine existing tax structures and procedures, identify sector-specific challenges, and recommend global best practices to enhance export competitiveness.
Bank holiday today: Are banks open or closed in your state on September 5, 2025 for Eid-e-Milad and Onam?
Is Today a Bank Holiday?: In September 2025, banks across several Indian states will be closed for Id-E-Milad and Thiruvonam, as per the RBI's holiday calendar. While digital banking offers convenient alternatives for many transactions, certain services like large cash handling and KYC updates still require in-person visits
Festive-season boost: Rate-cut transmission to get a push as banking gets Rs 62,000 cr
The banking system is set to receive a liquidity boost of ₹62,000 crore with the first phase of the CRR cut taking effect, injecting funds ahead of the festive season. This move aims to improve monetary transmission and stimulate economic activity, potentially leading to lower deposit and lending rates.
GST clarity and valuation levels could spur FII comeback: Chakri Lokapriya
Indian equity markets show cautious optimism amid global and domestic triggers. Chakri Lokapriya highlights falling INR, FII selling, and tariff uncertainty but points to fair valuations at 19–20x FY27 earnings. He stresses GST reforms as a structural positive that could drive earnings upgrades, boost demand, and attract fresh FII inflows.
RBI signals it's ready to hunker down for the long haul as Trump's tariff blow lands on India
In response to the US imposing tariffs on Indian exports, the RBI has declared its commitment to supporting India's economic growth. Governor Malhotra highlighted measures including repo rate reductions and liquidity injections. The RBI is also focusing on internationalising the rupee to reduce reliance on foreign exchange.
Falling NII hurts private banks' profit growth, public peers do better
Private sector banks experienced a decline in net profit for the second consecutive quarter due to dwindling net interest income, while public sector banks continued their double-digit growth. Overall net profit growth for the sampled banks slowed to a four-and-a-half-year low, reflecting a deceleration in net interest income, which saw its first drop in over five years.
Back-to-back settlement holidays to delay trade processing; what investors need to know
Investors should brace for delayed settlements as September 5 and 8 are declared settlement holidays. Equity trades from September 4–8 will be credited on September 9, with back-end operations halted. Liquidity, arbitrage opportunities, and derivatives activity may face short-term pressure.
Global debt inflows set to rise as India’s credit profile strengthens: LIC MF’s Pratik Shroff
India's sovereign rating upgrade is poised to attract stronger foreign capital inflows into its debt market, enhancing its risk profile and yield attractiveness. This shift could lead to broader inclusion in international bond indices, narrowing yield differentials with US Treasuries. Fixed income investors may benefit from increased demand for longer-duration sovereign bonds.
Dynamic bond mutual funds: Investors supposed all-interest-rate investment has failed in current rate cut-cycle
Amid the bond market’s season of woes, dynamic bond funds appear to have badly miscalculated the payoffs from the rate-cutting cycle
India considers halting shadow banks from duplicating business
The Reserve Bank of India (RBI) is considering stricter rules for shadow lenders, aiming to curb overlapping business activities between parent companies and their subsidiaries. This move aligns with existing regulations proposed for banks and seeks to mitigate risks within the non-banking finance sector.
More Indians now put nest eggs in MF basket: Mutual funds comprise 6% of household savings
Indian households are increasingly favoring mutual funds (MFs) over traditional bank deposits, with MF share in gross financial savings rising to 6% in FY23 from under 1% in FY12, according to RBI economists. This shift reflects a growing appetite for financial risk, influenced by factors like increased financial inclusion and business confidence.
India Inc needs to step up investment in order to reach the desired 8% growth rate: RBI's former Deputy governor
Former RBI Deputy Governor Michael Patra urges Corporate India to increase investments to sustain the nation's 8% growth trajectory. He highlighted that while India's GDP surged by 7.8% in Q1 FY26, investment is crucial for continued capital accumulation. Government efforts to boost consumption through GST reforms and income tax reductions are vital in the current economic climate.
HDFC Bank cuts lending rates on select tenures by up to 5 bps: Check how it can impact your loan EMI
HDFC Bank announces a reduction in its Marginal Cost of Funds-based Lending Rates. This move will benefit borrowers with loans linked to MCLR. The bank has lowered MCLR by up to 5 basis points on select tenures. New MCLR rates now range from 8.55% to 8.75%, varying by loan duration.
India's economy projected to grow 6.5% in FY26, but tariff tensions pose risks: Bank of Baroda
Bank of Baroda projects India's economy to grow around 6.5% in FY26, mirroring RBI's forecast, driven by strong Q1 growth of 7.8%. Manufacturing, agriculture, and services sectors are key contributors, supported by rising consumption and potential rate cuts. However, ongoing tariff negotiations pose a downside risk to the external sector.
Rupee bleeds red to a new low on greenback demand, slumps against Chinese yuan too
The Indian rupee hit a record low of 88.31 per dollar before closing at 88.19, pressured by U.S. tariff concerns, weak equity inflows, and strong dollar demand. RBI intervention likely prevented deeper losses, but sentiment remains fragile.
India’s 7.8% GDP growth sparks optimism, but sustainability faces key tests
India’s GDP grew 7.8% in Q1, driven by strong services and manufacturing. Economists caution the momentum may ease as one-off factors fade, fiscal space narrows, and exports face U.S. tariff pressure. Full-year growth is expected at 6.6%, slightly above RBI’s projection.
RBI launches survey to gauge inflation expectations of households across 19 cities
The Reserve Bank of India has initiated its September 2025 round of the Inflation Expectations Survey of Households across 19 cities to gather insights on price movements and inflation perceptions. This quarterly survey aims to understand how households perceive price changes, both generally and for specific products, providing crucial inputs for monetary policy.
Govt weighs special courts to fast-track bank fraud cases
The government is considering establishing special courts to expedite the resolution of bank fraud cases, with discussions underway between the law and finance ministries and banks. This move aims to accelerate disposal, improve financial recovery, and reduce legal costs for lenders. Recent data reveals significant fraud cases reported by banks, prompting the need for a faster judicial mechanism.
India bonds rise on hopes of support from authorities
Indian government bonds experienced a rise on Wednesday, fueled by optimism that both the government and the Reserve Bank of India would offer support following a recent selloff. The benchmark 10-year bond yield saw a decrease. Traders are hopeful the RBI will address concerns about mark-to-market losses, with discussions ongoing regarding the second half borrowing program.
Crisil maintains India's FY26 GDP forecast at 6.5%, private consumption to steer growth
Crisil projects India's GDP to grow at 6.5% for fiscal year 2025-26. US tariffs and slowing global growth may impact exports. Private consumption is expected to drive growth, supported by a good monsoon and RBI rate cuts. GST reforms are anticipated after Diwali. The GST Council will meet in September to discuss these changes. Government maintains GDP forecast at 6.3-6.8%.
India opts for golden hedge, cuts treasury-bill share in forex kitty
The Reserve Bank of India increased gold reserves over US Treasury bills. This move aims to strengthen foreign exchange holdings. India's US T-bill investments decreased compared to last year. However, India remains a top investor, ahead of Saudi Arabia and Germany. This shift reflects a global trend of diversifying reserves beyond the dollar. China also reduced its US T-bill holdings.
Top dynamic bond funds to invest in August 2025
Dynamic bond funds offer flexibility to navigate interest rate cycles, making them a smart bet for investors unsure about the RBI’s next move. With rate cuts expected in late 2025, schemes like Kotak Dynamic Bond Fund and ICICI Prudential All Seasons Bond Fund look promising.
Inflation band in India can be narrowed to 1% - 1.5% from 2% to improve policy effectiveness: Report
JM Financial has suggested narrowing India’s inflation tolerance band to 1–1.5% from the current 2% for stronger policy impact. The RBI’s framework targets 4% inflation within a 2–6% range. A tighter band, similar to peers like Indonesia, could boost credibility. Headline inflation remains more relevant for India due to food’s high weight in household budgets.
Rupee slips to record low of 88.36 vs USD; likely RBI intervention caps losses
The Indian rupee plummeted to a record low of 88.36 against the U.S. dollar due to concerns over potential U.S. tariffs on India. The Reserve Bank of India likely intervened to curb further losses as foreign portfolio investors continued to withdraw from Indian equities. MUFG forecasts the rupee could weaken further to 89 by early 2026 if tariffs persist.
Consumption boost and GST reforms set to drive economic growth and sectoral gains: Sunil Subramaniam
India’s economic landscape is poised for a significant uplift following the government’s recent policy announcements aimed at boosting consumption and reducing GST burdens.
Low investment optimism among private corporates, total cost of pvt sector project declines 6% in FY25: RBI study
RBI economists' study reveals a 6% decline in private sector project sanctions by banks and financial institutions in FY25, totaling Rs 3.67 lakh crore. Despite lower investment announcements and cautious optimism, greenfield projects dominate, signaling potential capacity expansion. Private sector capital expenditure is projected to rise 21% in FY26.
Government’s growth push yet to reflect on markets, says Gautam Duggad
Gautam Duggad notes that while government measures including rate cuts, tax relief, and GST rationalisation have boosted structural stimulus, markets have remained cautious. He expects earnings growth to revive in the second half of FY25, led by discretionary consumption and smaller sectors such as capital goods, cement, retail, healthcare, and metals.
J&K Bank appoints veteran banker S Krishnan as non-executive chairman
J&K Bank's board has approved the appointment of S Krishnan as the non-executive chairman, effective upon RBI approval, for a term extending until March 26, 2028. Krishnan, currently an independent director, previously served as MD & CEO of Punjab & Sind Bank and Tamilnad Mercantile Bank, bringing over 40 years of banking experience to the role.
RBI flags tariff risks but sees domestic factors supporting growth
The RBI's August report highlights downside risks to the Indian economy due to US trade policies, despite supportive domestic financial conditions. While uncertainties persist, factors like rising rural wages and rate cut transmissions are expected to bolster aggregate demand. The report also notes subdued industrial activity and anticipates headline inflation to remain below target.
India, Singapore to widen co-op in defence tech and maritime security
India and Singapore have agreed to broaden their strategic partnership, focusing on enhanced defence technology cooperation, particularly in areas like AI and quantum computing. Singapore acknowledged India's interest in Malacca Straits patrols. Both nations signed agreements spanning shipping, civil aviation, and digital assets, aiming to strengthen cooperation and counter the impact of US tariffs.
RBI's FREE-AI framework will require governance structures, capacity building
Experts believe the RBI's FREE-AI framework necessitates significant investment and cultural shifts for banks. It emphasizes fairness, explainability, and robustness in AI systems, transforming responsible AI into a compliance requirement. While upfront costs may challenge some, long-term benefits like improved decision-making and customer trust are anticipated, with data quality and bias removal being critical hurdles.
FPIs withdraw Rs 12,257 cr in first week of Sep on strong dollar, US tariff concerns
Foreign investors pulled out Rs 12,257 crore (USD 1.4 billion) from Indian equities in the first week of September, weighed down by a stronger dollar, US tariff concerns, and persistent geopolitical tensions.
Bank holiday for Onam, Eid-e-Milad: Are banks open or closed in your state tomorrow for these festivals?
Bank holiday: Banks in Kerala will be closed on September 4, 2025 and September 5, 2025, for Onam. Several other states will also observe bank closures on September 5, 2025 for Id-E-Milad and Thiruvonam. While branch services will be limited, digital banking options remain available for most transactions. Customers are advised to plan accordingly for any branch-dependent tasks.
RBI launches Consumer Confidence Surveys for Rural and Urban households
The Reserve Bank of India has launched the September 2025 round of its Urban and Rural Consumer Confidence Surveys to gauge households’ views on the economy, jobs, income, prices and spending. Conducted quarterly across 19 cities and 31 states/UTs, the surveys capture current perceptions and one-year-ahead expectations, providing key inputs for RBI’s monetary policy decisions.
Rupee hits record low on tariff jitters, but central bank caps decline
The Indian rupee hit a lifetime low on Friday, pressured by worries over U.S. tariffs, leaving traders on edge even as likely central bank intervention helped limit losses.
Outward remittances dip 8% to $2.13 bn in June, overseas investments surge 98%
Data shows outward remittances under the Liberalised Remittance Scheme fell in June. The Reserve Bank of India bulletin revealed an 8% month-on-month drop to $2.13 billion. However, investments in equity and debt abroad nearly doubled. Travel spending decreased to $1.2 billion. Overseas education expenditure also saw a slight dip to $138 million.
Kalyan Kumar set to lead Union Bank as Lalit Tyagi may join Central Bank amid reshuffle
Kalyan Kumar is expected to lead Union Bank of India. Lalit Tyagi is likely to transfer to Central Bank of India. Asheesh Pandey is dropped from consideration for a top post. The Financial Services Institutions Bureau had recommended Pandey. Reserve Bank of India had previously raised concerns about Pandey. Union Bank has been without a head since June.
India government bonds set to gain on fiscal relief, lower US yields to aid
Indian government bonds are likely to increase. This is due to smaller revenue loss from tax cuts. It has eased concerns about fiscal slippage. Falling US Treasury yields are providing support. The benchmark 10-year bond yield is expected to trade in a specific range. The Goods and Services Tax rates were cut to boost consumption.
FII activity, India-US trade deal among 7 factors that may impact D-Street action this week
Indian equity benchmarks wrapped up the week on a solid note, buoyed by strong domestic macroeconomic data and ongoing policy reforms. The Nifty gained 1.29% to settle at 24,741, while the Sensex climbed 1.13% to close at 80,710.
Lower GST will boost India's economy significantly, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced a new dual-slab GST structure expected to significantly boost India's economy. The government is also preparing a package for US tariff-affected export sectors and relentlessly working on next-generation policy changes. While not directly addressing tariff issues, the GST reform is anticipated to spur demand and provide some relief to affected sectors.
Govt’s gamble on GST cuts: What do the bond and currency markets signal?
Markets reflect cognitive biases, interpreting events differently. Equity markets anticipate consumption revival from GST reforms, while bond and currency markets price fiscal and macro risks. Persistent FII selling and a weakening Rupee highlight underlying stress, challenging India’s macro stability despite robust fundamentals.
RBI’s AI reset; ETSA ‘Startup of the Year’ nominees
The central bank’s new AI framework will send banks back to the drawing board. This and more in today’s ETtech Top 5.
Time for a raft of reforms to make fintech sector leaner, more inclusive and resilient to risks
India is set to reform its fintech sector. The focus is on innovation and competition. Reserve Bank of India may simplify regulations. It may allow Non-Banking Financial Companies to issue Unified Payments Interface credit lines. Revamping New Umbrella Entity framework is also on the cards. No-action letters may encourage innovation. Digital bank licensing is also a possibility.
Not time for Trump card: Q1 growth shows why a measured, targeted response is the best answer to tariff-induced pain
India's Q1 GDP growth of 7.8% presents a dilemma for policymakers amidst global uncertainties, particularly Trump's tariffs. While the economy shows resilience, a hasty stimulus package risks fiscal slippage and inflation.
Rupee may be allowed to weaken further as RBI cushions the blow of 50% US tariffs
S&P’s overdue sovereign upgrade and GST rationalization should boost India’s outlook, but markets remain muted as looming US tariffs weigh heavy. With India facing the steepest 50% rate, RBI may allow rupee depreciation to cushion the blow. Benign oil and food inflation provide space for calibrated currency adjustment.
Diwali bonanza from GST panel! Market may rally further on resolution on tariff front, says Julius Baer’s Rupen Rajguru
Following the GST Council meeting, Julius Baer's Rupen Rajguru anticipates a potential market rally driven by tax cuts and tariff resolutions. He suggests that Indian equities, currently underperforming, could see a turnaround. Rajguru favors consumption-related sectors like autos and low-ticket discretionary items, while remaining neutral on IT and optimistic about pharma, particularly hospitals and CDMOs.
Rupee recovers from record low to end flat after likely RBI intervention
The Indian rupee recovered from its record low to end unchanged on Monday, helped by likely intervention from the Reserve Bank of India towards the later part of the session, according to traders.
Maruti Suzuki shares may climb 17% to Rs 17,000, says ICICI Securities citing two growth drivers
Maruti Suzuki shares: ICICI Securities sees strong auto demand revival driven by GST cuts and new launches, reiterates ‘BUY’ on Maruti Suzuki with a raised target of ₹17,000, implying 17% upside. The outlook is further supported by tax reliefs, rate cuts, and Pay Commission revisions.
RBI sells $3.6 billion in June to manage rupee depreciation
In June, the Reserve Bank of India sold $3.6 billion to curb the Indian rupee's depreciation. The rupee strengthened slightly, closing at 85.47 per dollar, a marginal gain from the month's start. July saw the real effective exchange rate (REER) remain steady at 98.35. A REER below 100 suggests the rupee is undervalued, potentially boosting India's export competitiveness.
Seize the opportunity, invest boldly: RBI Guv Sanjay Malhotra
"Financial stability and price stability do not inhibit growth. Far from it. They are essential for sustainable growth. I look forward to working together with the regulated entities, to improve the efficiency and effectiveness of our financial intermediation, to ensure that the due benefits reach the people of our nation," RBI Guv Sanjay Malhotra said.
GST relief, festive season to help corporate earnings recover in Q3, says Edelweiss MF’s Radhika Gupta
Edelweiss MF’s Radhika Gupta says GST reform and the upcoming festive season will support domestic demand, ease inflation, and aid corporate earnings recovery in Q3. Investors should focus on India-focused sectors like FMCG, consumer durables, autos, and healthcare for potential growth opportunities.
Aditya Birla Capital shares in focus as RBI grants in-principle approval for payment aggregator license
Aditya Birla Capital's subsidiary, Aditya Birla Capital Digital, has received in-principle authorisation from the Reserve Bank of India to operate as an online payment aggregator. This approval allows the company to strengthen its presence in India's digital payments ecosystem, providing seamless payment aggregation services. The move is expected to enhance Aditya Birla Capital's competitive positioning in the financial services sector.
Cess 'slitting throat of federalism': Derek O'Brien
TMC's Derek O'Brien said that cess is hurting federalism. States are concerned about shrinking tax revenues, he claimed, adding that the Centre gets all cess funds. He said states want a larger share of tax collections and that a lot of cess and surcharge money is unused. GST rationalisation is a good step if people benefit. States had asked for compensation.
Bank holiday today for Onam: Are banks open or closed today in your state for this festival? Check now
Bank Holidays Today: Onam, a harvest festival celebrated by the people of Kerala. Banks across various states will also be closed in September for Karma Puja, Id-E-Milad, and Durga Puja. Digital banking services will remain available, though some services require in-person visits.
GST cuts lift market sentiment, IT gains on valuation play: Dhananjay Sinha
Stock markets rebounded after last week’s selloff, driven by GST cuts, festive demand expectations, and global partnerships. Dhananjay Sinha highlighted auto, FMCG, and consumer goods as key beneficiaries. The IT sector rally was attributed to sector rotation and Fed rate cut hopes, though outlook depends on future commentary and exports.
