36 C 
Gold prices have corrected sharply from their January peak, but Tata Mutual Fund believes the long-term outlook remains supported by central bank buying, fiscal risks and geopolitical uncertainty. The fund house also remains constructive on silver amid persistent supply deficits.
Women account for over 57% of online medical consultations through eSanjeevani
The eSanjeevani platform has reached a significant milestone of 50 crore teleconsultations across India. It shows notable participation, with 57.14 percent of users being women and 40.15 percent aged 46 and above. Telemedicine is proving essential in enhancing healthcare access for citizens in remote areas. The service has expanded rapidly and supports a diverse range of medical consultations daily.
Federation of Indian Airlines seeks review of existing ATF pricing formula
The unprecedented increase in fuel costs, compounded by geopolitical disruptions and rupee depreciation, is placing significant pressure on airline cash flows and viability
IHG signs deal for 130-key voco hotel in Vrindavan, opening planned for 2031
IHG Hotels & Resorts has finalized a management agreement with Vrindam Developers for a new hotel. The voco Vrindavan will feature 130 keys and is expected to open in the first quarter of 2031. This development represents Vrindam Developers' first venture into the hospitality sector, expanding their business portfolio. IHG currently operates 53 hotels in India and has plans for 110 more in the upcoming years.
JioStar taps IPL fandom that's moving beyond Hindi and English
Kannada, Telugu and Tamil cricket feeds have shown significant growth during TATA IPL 2026. JioStar launched 'Beyond Boundaries' to enhance advertiser partnerships with regional-language programming. The Telugu feed experienced the highest digital watch time growth at 30%. The initiative highlights various successful regional programming that connects with local audiences. JioStar aims to capitalize on the increased interest in regional-language cricket viewership.
Unpaid rent is not automatically excluded from taxable income. Know when a house owner can claim unrealised rent under the Income-tax Act, 2025, the conditions under Rule 21, and how subsequently recovered rent is taxed.
Young investors are checking their portfolios and trading more frequently, but excessive monitoring can encourage short-term thinking. The CFA Institute says investors should stay engaged without letting every market movement trigger a change in their long-term investment plan.
Insurance brokers oppose IRDAI's proposed reforms on caps on commissions
Indian insurance brokers are opposing regulatory proposals that include caps on commissions paid to various distributors. The Insurance Regulatory and Development Authority of India introduced these proposals to reduce costs for policyholders. Concerns have been raised about potential job losses and unethical practices following the reforms. The brokers association has requested an audience with government leaders regarding the changes.
From 15 October 2026, a 0.4% MDR will apply to specified UPI merchant transactions above 2,000, capped at 300 for transactions of 75,000 and above. Consumers and P2P payments remain free, while Indias model differs from digital-payment fee structures in other countries.
PwCs new India consulting JV signals bigger global role for India
PwC is putting India at the centre of its global consulting strategy by combining its India consulting business with the US firms India advisory operations into a nearly 40,000-person joint venture. Executives said the move is aimed at routing more global consulting work through India, expanding work with GCCs and giving Indian clients greater access to PwCs global capabilities, rather than simply cutting costs.
Delhi HC seeks Salman Khan's response on 'Kala Hiran' producer's plea
The Delhi High Court has issued a notice to actor Salman Khan regarding his suit against the film 'Kala Hiran'. The film's producer, Amit Jani, argues that Khan's claims represent parallel litigation concerning the same issues. Khan is seeking to restrain the release and dissemination of the film, which he claims infringes on his personality rights.
How AI is transforming Indias BPM industry
India's business process management landscape is remarkably transforming as it embraces artificial intelligence and smarter operations. This change signifies a shift away from age-old cost-centric models, aiming instead for tangible business results via cutting-edge technology. Leaders within the industry highlight the importance of novel workflow strategies, necessitating advanced skills and compliance mechanisms. With AI's growing presence, workforce roles are set to adapt, emphasizing critical decision-making and oversight.
Gold rate today: On October 6, 2026, gold and silver prices saw a minor decline across major jewelry outlets in India. The India Bullion and Jewellers Association reported a reduction in 22k gold rates in several cities. Tanishq noted a decrease in prices for their 22k gold jewelry compared to the day before.
Jio Platforms targets $114 bn valuation for IPO, listing likely by Oct 30
Jio has finished gauging demand for the offering and is likely to begin meetings with potential investors this week to discuss valuation and pricing
Meesho shares jump 6% as content commerce NMV grows 152% in Q2. Buy, sell or hold the stock?
Meesho shares rose after strong growth in its Content Commerce business, with NMV increasing 152% year-on-year. Brokerages remain divided, with UBS and Jefferies positive on the stock, while Nomura has a Reduce call.
Lupin launches fixed-dose triple combination inhaler for COPD in India
Lupin Ltd has launched Formoflo-G MDI, a new inhaler for chronic obstructive pulmonary disease management in India. This fixed-dose inhaler combines three therapies into a single device for better treatment outcomes. It aims to benefit over 55 million people living with COPD across the country. The Drug Controller General of India has approved this innovative product for use. Lupin is currently ranked second in the respiratory therapy segment in India.
Bank of India Flexi Cap Fund leads the flexi-cap category in 2026 YTD, three-year and five-year returns. We look at the top five funds across each period and what the rankings mean for investors comparing flexi-cap funds.
Trev plans 2,500-vehicle premium EV fleet by 2031, raising $2 million
Aiming to elevate its electric vehicle fleet from 105 to 300 by the close of the financial year, Trev Mobility is in the process of raising $2 million, having almost reached $1 million in funding thus far. With its fleet comprising deluxe electric vehicles, Trev offers distinct services outside mainstream ride-hailing markets.
Dabur India expects double-digit revenue growth in Q2 FY27
Dabur India anticipates strong double-digit growth in its consolidated revenues and India FMCG business for the upcoming quarter. Demand conditions have remained steady despite challenges such as inflation and geopolitical tensions affecting operations. The company expects robust performance particularly in its Home & Personal Care and Food and Beverages segments. Modern Trade and emerging distribution channels are also expected to drive growth significantly.
Lords Mark strengthens UK and UK allied market strategy with regulatory backing for IVD portfolio.
In an exciting development, Lord's Mark Industries has secured registration for its In-Vitro Diagnostic portfolio with the MHRA, significantly boosting market access. This follows the approval of their AI-enhanced Renalyx haemodialysis system in the UK. The firm aims for a December 2026 market launch for its IVD products, ahead of schedule, along with a planned January 2027 start for its pathology lab, highlighting its strong commitment to global healthcare integration.
When can you claim tax benefits on home loan for under-construction property? Tax expert explains
Home loan tax benefits for an under-construction property are not automatically available from the first EMI. Principal repayment, pre-construction interest and post-completion interest follow different rules, while the propertys completion date and chosen tax regime can affect eligibility.
Multicap funds beat flexicaps on returns, but investors still favour flexicaps. Should you switch?
Multi-cap mutual funds have outperformed flexi-cap funds across short- and long-term horizons, but investors continue to favour flexi-cap schemes. Experts attribute the performance gap to multi-caps mandatory exposure to mid- and small-cap stocks, while flexi-caps offer greater flexibility and a relatively smoother risk profile. Should investors switch categories, or stick with their existing allocation?
SDKs emerge as key gateway to AI advertising as in-app ad market hits $400 billion
Independent advertising technology platforms are set to leverage SDKs to dominate the $400 billion in-app advertising market. Growth in this sector is characterized by a shift from traditional web-based advertising methods to SDK-driven strategies. Key companies like AppLovin and InMobi have established extensive SDK footprints, enhancing their competitive advantage. As AI products scale, the importance of advertising will increase to cover operational costs.
ET Wealth Reader's Query: I am 42 and have been investing through SIPs for over a decade. My mutual fund portfolio has grown to Rs 1.2 crore, with 90% invested in equity funds. I will need Rs 30 lakh in three years to fund my childs higher education. When should I start moving this money to safer investments, and what is the best way to do it?
Digital Life Certificate: Senior pensioners aged 80 and above can submit their Digital Life Certificate from October 1, 2026. Various submission methods are available, including biometric and face authentication, and doorstep banking.
Tata Steel CEO T V Narendran stated that domestic steel demand is expected to grow 8-10% in the coming months. He mentioned positive signs from all consuming sectors contributing to this anticipated growth. Additionally, Tata Steel is negotiating with the Dutch government regarding issues tied to steel production. These issues include the closure of coke ovens and classification of steel slag.
Small-cap indices have outperformed large caps sharply over the past year, but SIP investors should not change their strategy based on recent returns. Experts say investors should continue SIPs while checking whether strong small-cap gains have pushed their portfolio beyond its intended allocation.
Bond laddering: a simple way to manage interest-rate risk
Bond laddering spreads a lump-sum investment across instruments with different maturities, helping investors manage reinvestment risk while creating a regular flow of cash.
Indian banks' Q2FY27 earnings seen rising 11%; FCNR deposits may weigh on margins: Kotak
Indian banks are projected to see an 11 percent year-on-year growth in earnings for the second quarter of FY27. The report anticipates that private sector banks will perform better than public sector banks during this period. Deposit growth is supported by significant FCNR inflows, which may temporarily decrease net interest margins. The outlook for asset quality remains stable, with no major signs of deterioration reported.
A 67-year-old woman in Maharashtra allegedly lost 13 lakh after cyber criminals posing as police officials threatened her with arrest. Here are 5 key money lessons for senior citizens.
Your phone says spam before you answer. How AI spots suspect calls
Telecom companies in India are harnessing the power of artificial intelligence to detect and label potential spam calls and messages. By analyzing calling trends, AI has already flagged billions of suspicious communications. Major players like Airtel and Vodafone Idea implement effective spam warnings for their users, while apps like Truecaller and Googles Phone enhance caller identification capabilities. Meanwhile, TRAI mandates operators to responsibly investigate flagged spam incidents.
India could have its first indigenous civilian aircraft within two years through a joint venture, Civil Aviation Minister K Rammohan Naidu said. With airlines ordering over 1,600 aircraft and more airports planned, the government is also exploring domestic engine manufacturing. Meanwhile, West Asia tensions are driving higher jet fuel costs, pressuring airlines.
PPF, SCSS, NSC interest rates: Has the government changed rates for October- December 2026?
The economics of group health distribution
Irdais proposed distribution reforms need to account for the economics of group health insurance, where commissions are already low and intermediaries provide significant services to employers and employees.
10 new airports coming soon in Madhya Pradesh; plan includes helipads in all 230 assembly seats
New airports coming up in MP: Madhya Pradesh is rolling out a major aviation expansion under its Civil Aviation Policy 2025, aiming for an airport every 150 km, an airstrip every 75 km and a helipad every 45 km statewide, with permanent helipads planned in all 230 assembly constituencies.
Adani Power and Bhutan's state owned power corporaton to develop 770-megawatt hydropower project
Adani Power and Druk Green Power Corporation have signed an agreement to develop the 770-megawatt Chamkharchhu-I Hydroelectric Project. Construction is expected to begin in the first half of 2027 and commissioning will follow six years later. This project aims to enhance Bhutans energy security and provide surplus power to India during summer months. The partnership will operate under a 49:51 equity model and includes a 30-year concession.
8th Pay Commission: How fitment factor could change Level 6, 7 and 8 basic pay
8th Pay Commission resumes consultations in Bengaluru on 7 October. Here is what different fitment factors could mean for Level 6, 7 and 8 basic pay, amid employee union demands for higher salaries.
Sweat and savings: how to plan for Hyrox's associated expenses without going into debt
While competing in Hyrox offers a unique experience, the associated expenses require clear financial guardrails.
A rental cars advertised price may not be the final bill. Here are the charges and damage-liability terms customers should check before booking a self-drive car.
Gold and silver prices today, 6 October: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.
Two-wheelers, EVs power September auto sales as festive demand picks up
Indias two-wheeler market saw record sales in September, boosted by festive consumer buying trends. Two-wheeler sales rose 33.08% year-on-year, marking the segment's highest-ever September performance. Electric vehicles also achieved record monthly sales, accounting for 11.58% of overall two-wheeler sales. The festive season is anticipated to further enhance sales momentum, with many dealers expecting growth. Overall, the shift toward electric vehicles indicates changing consumer preferences in the automotive market.
Aadhaar isn't mandatory for every pension life certificate; here's what is
If you're managing cryptocurrency on international exchanges without disclosing them in India, the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) could be essential for you. This piece delves into the necessary steps for declaring foreign digital assets and discusses the consequences of failing to disclose crypto investments, highlighting potential tax liabilities and legal safeguards.
Indias wind industry must move beyond turbines to integrated power solutions: GWEC
India's wind energy companies are encouraged to offer integrated solutions that include wind, solar, and battery storage. This shift is crucial as the country aims to reach its 2030 target of 100 GW of wind capacity. Improved policies and auction designs are helping, but coordination between agencies poses challenges. Grid deployment delays and permit issues are also key constraints facing the industry.
FLY91 begins flights from Navi Mumbai airport, adds four direct routes
FLY91 has begun operating from Navi Mumbai International Airport, offering direct flights to various destinations. The airline plans to operate over 350 weekly flights in its winter schedule. Multiple public transport options will connect passengers to and from the airport, enhancing accessibility. E-Shivai electric buses, taxi services, and autorickshaws will provide economical transport solutions. The airport is establishing infrastructure to support electric vehicles and improve mobility options in the region.
A Bangalore ITAT ruling has deleted a 23.31 lakh penalty imposed on a cooperative housing society that claimed a 37.82 lakh deduction under section 80P. The tribunal said a fully disclosed, bona fide claim on a debatable tax issue does not amount to misreporting.
Starting a credit journey at 21 does not mean taking on unnecessary debt. A secured or entry-level credit card, disciplined spending, timely full repayments and controlled credit utilisation can help young borrowers build a strong credit history.
8th Pay Commission: Bengaluru meeting will hear stakeholder views on salaries, fitment factors, allowances and pensions. IRTSA has sought higher minimum pay and fitment factors, while RSCWS has called for stronger basic pay and better retirement security, with similar demands expected to be tabled.
Smartphone and consumer electronics manufacturers are extending EMI options to as long as 30 months. This move aims to cushion consumers from rising prices and stimulate demand during the festive season. Major brands like Samsung and Xiaomi are offering no-cost EMI schemes on various models, including entry-level options. Retailers expect finance-driven purchases to increase significantly during the festive sales period.
Health insurers may introduce a 10% co-payment on claims from January 2027, capped at 5 lakh per claim. While this could lower premiums, policyholders may face higher upfront costs during hospitalisation. Heres how the proposal could work and what consumers should check.
Indian Bureau of Mines invites applications to set up mineral exchange
The Indian Bureau of Mines is inviting applications from companies to set up a mineral exchange. Interested applicants have until November 2 to submit their applications for consideration. This initiative follows the notification of the Mineral Exchange Rules, 2026, to facilitate trading of minerals. The government seeks to identify capable entities to establish a transparent and technology-enabled exchange.
Gadkari calls for better highway planning, safety
During a recent Chintan Shivir in Gujarat, Nitin Gadkari brought attention to the essential role of quality and safety in national highway development. He pointed out that improved planning at the detailed project report stage is crucial. Effective surveys and timely clearances can significantly cut down on delays and costs, ensuring greater efficiency in highway projects right from the outset.
Gold imports by nominated agencies may come under GST as Council weighs tax parity
The GST Council is set to meet on October 8, focusing on whether government agencies should be brought under the GST regime. As it stands, only banks are subject to a 3% GST on gold imports, a situation that may change soon. Authorities are looking to standardize tax treatment to lessen disputes, which could influence bank and agency working capital.
Highway engineers to face rating cuts for failures
Major structural collapses and severe serviceability losses in national highway projects are classified as catastrophic failures, leading to penalties for responsible concessionaires and enforcement of accountability.
In response to a laboratory worker's suspected death from bubonic plague, Russian officials have enforced quarantine protocols. Approximately 200 individuals are under watch for potential exposure to the infection, which mainly spreads via flea bites or contact with infected wildlife. Despite its serious nature, bubonic plague is treatable with antibiotics, though the pneumonic variant poses a greater threat due to its direct human transmission.
Two-wheelers dominate work commutes, buses lead overnight travel: NHTS survey
The latest National Household Travel Survey reveals that two-wheelers dominate daily commuting choices, while buses make up over 50% of overnight travel, underscoring their role in long-distance journeys. Urban workers face higher commuting costs than their rural counterparts, and students mostly use walking and buses to get to school. The survey illustrates varied travel habits across states, emphasizing the significance of public transport options.
Hospital pricing part of wider value chain: Max MD
Abhay Soi, chairman of Max Healthcare, commented on scrutiny regarding hospital pricing in India. He stated that hospitals should be evaluated based on the entire clinical process rather than individual consumable prices. Soi explained that the administration of medical supplies involves significant training and compliance with storage and disposal regulations. He noted that hospitals have multiple billing items with varying margins contributing to an overall profit margin.
Centre may seek legal view on licensing of sterile drugs
The government is actively exploring a proposal to expand central licensing authority over all sterile drug products following a recent Supreme Court decision that restricted the enforcement authority of central officials. A meeting of the drugs consultative committee underscored the essential requirement for specialized regulatory oversight for these sensitive products, aiming for uniform regulations. A dedicated sub-committee will evaluate the proposal's feasibility and gather legal insights before any definitive actions.
Mid-sized restaurants hungry for funds as investors stay away
Mid-sized organized restaurant chains such as Punjab Grill and Mad Over Donuts face financing challenges. Investors are being more cautious, focusing on sustainable profits and unit economics. As a result, several chains explore capital raises or stake sales. Recent investments favor businesses demonstrating strong financial performance and growth potential. Meanwhile, larger investments continue to thrive, creating a divide in the restaurant industry.
Oil ministry plans centralised R&D mechanism to steer projects, funding in oil and gas sector
The oil ministry aims to establish a centralised mechanism for research and development in the oil and gas sector. This approach will align initiatives from state-run companies and other organizations with national priorities. The proposed Centre for High Technology will coordinate R&D project allocation, funding, and monitoring. State firms will maintain ownership of their R&D while working collaboratively with other entities.
Sumitomo buys 49% in Hero Future Energies unit for Rs 375 crore
Japan's Sumitomo Corporation has made a strategic investment by acquiring a 49% interest in a Hero Future Energies subsidiary for 375 crore, leaving Hero with a controlling 51% stake. This renewable energy project, based in Bidar, Karnataka, aims to produce 500 MW of electricity. Hero Future Energies' impressive 10 GW renewable energy portfolio underlines the significance of this partnership in Sumitomo's ambitions in India's growing energy sector.
National Housing Bank likely to double affordable housing outlay for HFCs this fiscal
National Housing Bank plans to double the refinance and affordable housing funds for large housing finance companies. These funds will be available to companies seeking long-term and cheaper financing options. LIC Housing Finance, Bajaj Housing Finance, and others are likely to benefit from this increase. The funding is expected to help reduce reliance on banks while promoting growth in housing loans.
Filed your ITR in July or August but still waiting for your refund? Delays can happen for several reasons, from mismatches in tax details to processing issues. Heres what taxpayers should check on the e-filing portal and when they may need to take further action.
IPO mutual funds remain a niche category, with some schemes investing in newly listed stocks and others tracking IPO-focused indices. Heres how fund managers approach IPOs, when they buy or sell, and what investors should check before considering these funds.
Adani airports stops handling Russian cargo, say agents
Adani Airports has suspended handling cargo related to Russian carriers at Mumbai airport due to sanctions compliance concerns. This decision has led to a dispute with representatives from Aeroflot and Volga Dnepr regarding previously arranged shipments. Currently, approximately 2.5 tonnes of cargo is lying in the airport warehouse while additional cargo seeks transportation. Delmos Aviation has requested intervention from the Ministry of Civil Aviation to resolve the matter.
Waiting for your ITR refund? A delayed refund does not automatically mean you will receive interest. Heres when interest may be payable under Section 244A, how it is calculated, and the key conditions taxpayers need to know.
Finmin to meet heads of banks on Tuesday to review progress of financial inclusion scheme
A meeting involving bank heads is scheduled for Tuesday to assess the progress of financial inclusion schemes. Key initiatives include Pradhan Mantri Jan Dhan Yojana and Pradhan Mantri Mudra Yojana, which support small enterprises. Other schemes such as PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana offer insurance coverage for different age groups. The StandUp India Scheme focuses on empowering SC, ST, and women borrowers.
Mercedes-Benz India has launched the Maybach S 580e plug-in hybrid priced at Rs 3.35 crore. This model is the first plug-in hybrid in the Maybach range offered in India. It features a combination of a six-cylinder petrol engine and an electric motor for enhanced performance. The luxury car provides a range of up to 98 km on a full charge with various safety features included.
EXPLAINER: Why are airlines and Adani Airports at odds?
Mumbai's Terminal 1 is set for redevelopment starting in January 2027, which has led to a flight reduction dispute. Airlines are concerned about shifting international flights to the new Navi Mumbai International Airport as it affects their operations. MIAL has planned to temporarily reduce international departures from Terminal 2 while accommodating displaced domestic passengers. The Civil Aviation Ministry is meeting with stakeholders to resolve the issue and finalize flight allocations.
Consumer demand revives, but D-Mart shares plunge amid e-commerce fears
Consumer demand gained momentum for companies like Marico and Godrej Consumer Products in the second quarter. Retailers including D-Mart and V-Mart Retail showed strong sales growth, although D-Mart's shares declined significantly. Marico reported a double-digit volume growth, while Godrej tracked revenue growth in the teens despite inflationary risks. Nykaa experienced robust growth in its beauty and fashion segments during the quarter.
German Mittelstand expands engineering and technology operations in India
German mid-sized companies are increasingly expanding their engineering and technology operations in India, particularly in Bengaluru. More than 80 German companies operate over 150 global capability centre (GCC) units employing over 130,000 professionals. Access to engineering talent and skilled professionals in India drives this rapid growth, which has seen GCCs grow by 108% in five years. Many of these companies now collaborate with universities and startups to enhance capabilities further.
A global SIP comparison shows how the same monthly investment strategy produced very different outcomes across markets. While the US emerged as the clear leader, India stood out for consistency. The findings highlight why SIP discipline alone cannot determine returns.
The 57th meeting of the Goods and Services Tax Council has been rescheduled to October 8, starting at 11 am. The meeting's location is the Summit Room, Bharat Mandapam, in New Delhi. An Office Memorandum cited unavoidable circumstances for the date change without providing further details. Members of the Council have been notified about this alteration, and an apology has been expressed for any inconvenience caused.
Haldia to revamp feedstock mix after Mideast war hit supplies, executive says
In response to disruptions from the Middle East conflict, Haldia Petrochemicals Ltd is set to broaden its feedstock sourcing strategies. Currently reliant on 50% local supply and 50% from the Middle East, HPL plans to enhance its processing abilities by using condensate and up to 30% LPG at its West Bengal facility next year.
Tata Steel expanding NINL capacity to 5 MT per annum: CEO TV Narendran
Tata Steel is channeling Rs 40,000 crore towards boosting the capacity of Neelachal Ispat Nigam Limited (NINL) by an impressive 5 million tonnes annually. This strategic acquisition, which was finalized on July 4, 2022, cost Rs 12,100 crore. After being idle for over three years due to financial turmoil, NINL is now revived.
India luxury car sales rise in double digits; Mercedes-Benz sales grow 8% to record 15,190 units
The luxury vehicle market in India showcased a striking uptick in sales for 2026, reflecting a robust appetite for high-end automobiles. Mercedes-Benz led the way with impressive sales reaching 15,190 units in just the first nine months, bolstered by exciting new launches and upgrades from loyal customers despite supply challenges. Electric models, particularly with the CLA Electric's introduction, further supported this growth.
Navi Mumbai International Airport rolls out multimodal connectivity ahead of winter schedule
Navi Mumbai International Airport is set to enhance its transport network with affordable options for passengers. Multiple services include buses, taxis, and airport shuttles, offering economical travel across regions. The Maharashtra State Road Transport Corporation will begin the e-Shivai bus operations on October 7 for passengers. Besides, ride-sharing services such as Bharat Taxi and Uber will be available starting October 10.
UPI MDR will apply to eligible P2M transactions above 2,000 from 15 October 2026. But how does its 0.4% charge compare with typical debit and credit card MDRs? Heres a look at the transaction costs and how the charges differ across payment modes.
RBI absorbs Rs 2.1 lakh crore via overnight VRRR auctions amid surplus banking system liquidity
Digital Desk | Mumbai, Oct 5 (IANS) The Reserve Bank of India (RBI) absorbed Rs 2,10,192 crore from the banking system on Monday through two overnight Variable Rate Reverse Repo (VRRR) auctions -- reflecting the central bank's ongoing efforts to drain excess liquidity from the financial system. In the first auction, the RBI received bids worth Rs 2,10,688 crore against a notified amount of Rs 2 trillion. The central bank accepted Rs 2,00,050 crore at a weighted average rate of 5.24 per cent. The response was considerably weaker in the second auction, where banks submitted bids worth only Rs 10,142 crore against the notified amount of Rs 50,000 crore. The RBI accepted the entire bid amount. The move comes at a time when liquidity conditions in the banking system remain highly comfortable. According to RBI data, surplus liquidity stood at around Rs 5.16 trillion as of October 4. Over the past two months, the central bank has conducted a series of VRRR auctions to absorb excess funds from the banking system and ensure that short-term money market rates remain close to the repo rate, which serves as the RBI's key policy benchmark. Banking system liquidity has been supported by substantial mobilisation of Foreign Currency Non-Resident (Bank) or FCNR(B) deposits. These inflows brought foreign currency into the banking system, while subsequent swap transactions with the RBI injected rupee liquidity into banks. In addition to FCNR(B) inflows, government spending at the end of the month, including payments towards salaries and pensions, has further boosted liquidity in the system. With liquidity remaining significantly above neutral levels, market participants expect the RBI to continue deploying short-term liquidity management tools, including VRRR auctions, to absorb surplus funds and maintain stability in money market rates.
Godrej Consumer expects high-teens revenue growth in Q2 despite inflationary pressures
Godrej Consumer Products Ltd anticipates strong consolidated revenue growth in the upcoming September quarter. This expected growth is driven by high demand across various markets and portfolios. The company is adapting to challenges posed by rising commodity prices through strategic pricing and cost management.
NRI tax rules: What happens to losses on foreign shares?
An NRI asks if a loss on UK stocks can offset gains on Indian shares, while another wants to know if former residents can use FAST-DS to disclose unreported US stocks.
Private banks' deposit mobilisation outpaces PSU peers in Q2
From a loan growth perspective, state-run banks' advances growth remained in the range of 12.59-29.83 per cent year-on-year in Q2, while private banks' growth ranged from 16.3-40 per cent during the same period.
The collapse of NFT market: Digital goldmine turns into digital dust; here are the biggest losers
The NFT market has collapsed, losing up to 99% of its value as excitement waned. Famous purchases by stars like Eminem and Justin Bieber have turned into significant losses.
Axis Banks Sanjeev Moghe resigns amid banking sector leadership churn
Axis Bank executive Sanjeev Moghe has resigned, making it the lender's second senior management exit in just over a month amid wider industry executive reshuffles.
SEBI chairman warns investors against anonymous tips, finfluencers; launches Project Jagrook
Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India, has inaugurated Project Jagrook, which aims to boost investor education and awareness. This initiative addresses the stark difference between market understanding and actual involvement, with only 9.5 percent of the 63 percent of households aware of securities products actively engaged.
Federation of Indian Airlines seeks Centre's intervention for faster release of ECLGS 5.0 funds
Indian airlines have requested the Civil Aviation Ministry's assistance in securing timely credit disbursements under ECLGS 5.0. The Federation of Indian Airlines aims to alleviate the severe financial strain caused by rising fuel costs and other factors. ECLGS 5.0 provides significant financial relief to eligible airlines impacted by current global disruptions. The scheme is designed to support airlines through short-term liquidity challenges during the ongoing crisis.
Mutual fund investors may need to rethink static portfolio strategies as market volatility, higher rates, and shifting global trends reshape sector leadership. The latest outlook highlights dynamic asset allocation, selective sectors, and the importance of tracking portfolio positioning.
Maa Acorn Lifestyle Pvt. Ltd. has announced the upcoming launch of a resort-style club at Ayana Woods. This 8-acre facility will feature a longevity clinic and various wellness amenities for residents. It is designed to support healthy living and daily routines, enhancing community engagement. The first 50 members will form the Founders' Circle with exclusive privileges.
New Delhi-Chandigarh Shatabdi Express was recently involved in a cattle run-over incident between Rathdhana and Sonipat in the Northern Railway zone when the loco pilot tried to stop the train using emergency brakes.
