SBICAP Securities, a full-service brokerage and group company of the State Bank of India, has announced the appointment of Baldev Prakash as its Managing Director and Chief Executive Officer, effective June 29. The appointment was confirmed by the company on Tuesday. Prakash joins SBICAP Securities on deputation from the State Bank of India, where he…
Bandhan Bank has raised interest rates on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits, offering up to 7.1 per cent on US dollar-denominated deposits of $1 million and above for tenures of three to five years. The revised rates are part of a limited-period offer aimed at attracting higher foreign currency inflows from non-resident Indian…
India’s largest private sector lender, HDFC Bank, has announced an increase in its Marginal Cost of funds-based Lending Rate (MCLR) by up to 10 basis points across various tenors. According to official data updated on the bank’s website, the revised lending rates took effect on June 8, 2026. This upward revision means that consumer loans…
The Development Bank of Japan (DBJ) has made its first-ever real estate investment in India by investing in the HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund), managed by HDFC Capital Advisors. The move marks a significant step in DBJ’s international investment strategy and highlights growing Japanese interest in India’s financial…
India’s banking landscape is bracing for a major shift in scale. Bank of Baroda, the nation’s second-largest state-owned lender, has announced a bold roadmap to double its balance sheet over the next five years. This strategic surge aims to position the bank as a formidable global competitor while supporting India’s march toward becoming a developed…
Shares of the State Bank of India (SBI) maintained a neutral stance on Tuesday, trading flat after the country’s largest lender announced its board has approved a proposal to explore long-term fundraising of up to $2 billion for the 2026–27 fiscal year. The bank intends to raise these funds in one or more tranches through…
In the first half of FY26, Indian companies raised $18.49 billion in ECBs, lower than $25.42 billion in the same period in FY26, according to RBI data. Some of the bigger borrowings were from Tata Capital ($400 million in January), Mumbai International Airport Ltd ($800 million in June), and Sammaan Capital ($300 million in August)…
Axis Bank has unveiled its Digital Merchant Cash Advance Loans, a new offering aimed at empowering micro, small, and medium enterprises (MSMEs) with quick and flexible access to working capital. The service provides unsecured loans between ₹2 lakh and ₹20 lakh, designed especially for small merchants, including retail shop owners, to support their day-to-day operations….
ICICI Bank has disclosed that the Maharashtra Goods and Services Tax (GST) Department has issued a demand notice of ₹237.90 crore for alleged short payment of GST. The order, received on December 17 under Section 73 of the Maharashtra GST Act, 2017, includes ₹216.27 crore in tax and ₹21.62 crore in penalty, along with applicable…
India recorded a net foreign direct investment (FDI) inflow of $10.1 billion between April and August 2025, marking a significant increase from $4.6 billion during the same period last year, according to data released by the Reserve Bank of India (RBI). The surge in net FDI reflects growing investor confidence in India’s economic prospects, particularly…
