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Finance
Finance Weaker rupee may push foreign assets over FAST-DS Rs 1 crore limit, raising tax bill
The rupee's 14-33% decline over three to seven years may push foreign holdings above the FAST-DS Rs 1 crore limit, potentially disqualifying taxpayers from the 60% tax-and-penalty disclosure window. The Income Tax Department's voluntary scheme, open since August 16, uses March 31, 2026 as the exchange-rate date for assets, but experts disagree on whether income should be converted at that date or the year-earned rate. Taxpayers with over Rs 1 crore in undisclosed income are weighing updated returns alongside FAST-DS, but face risks of void declarations if facts are suppressed.
Finance NABARD and NaBFID sign MoU to fund rural infrastructure projects
India's NABARD and NaBFID have signed an MoU to jointly finance rural infrastructure projects, combining NABARD's rural expertise with NaBFID's infrastructure financing capabilities. The pact covers joint financing, advisory services, debt syndication and capacity building, targeting areas such as cold-chain, irrigation and rural roads.
Finance TD Cowen Turns Negative on Freight Brokers Amid Mounting Insurance Premium Inflation
TD Cowen's transportation team, led by Jason Seidl, issued a negative outlook on freight brokers after an insurance executive described 'sizeable inflation' in premiums following the Montgomery decision. The report cites a top 10 broker's liability insurance tripling, premium cost increases from $3 million to $10 million, and a shrinking field of underwriters. TD Cowen named RXO, C.H. Robinson and Landstar as companies under negative coverage.
Finance India's Finance Minister Sitharaman cites financial sector boom to woo Canadian investors
India's Finance Minister Nirmala Sitharaman invited Canadian investors to increase participation in India's growth story, citing robust scheduled commercial banks, rapid NBFC growth and a digital ecosystem that reduced access costs. She flagged 100% FDI in insurance, GIFT City and supply-chain alternatives as key attractions.
Finance Rs 30 Lakh a Month for an Intern? India's High-Speed Trading Firms in Fierce Talent War
Indian high-frequency trading (HFT) firms are offering record compensation to interns, including Rs 3 million a month from Quadeye, as they compete for quantitative talent. The pay surge comes amid tighter derivatives regulations, a 17-month low in NSE futures and options turnover, and a 3% decline in proprietary trading gross profit.
Finance Joint Home Loans: When Co-Borrowing Improves Eligibility, Liquidity and Tax Benefits
Santosh Agarwal, CEO of Paisabazaar, explains when joint home loans make sense for Indian households: combined incomes can raise borrowing eligibility and preserve liquidity, but co-borrowers share credit-score risk and tax benefits depend on ownership structure. Higher eligibility does not automatically mean higher affordability, so households should treat extra borrowing capacity as an option, not a target.
Finance Bank Holiday Today: RBI Closes Branches in 19 Cities for Id-E-Milad on August 26
Bank branches in 19 Indian cities are closed on Wednesday, August 26, for Id-E-Milad, Milad-un-Nabi and Thiruvonam, according to the RBI's holiday calendar. Digital services such as ATMs, UPI, internet banking and mobile banking remain available, but physical branch services like document submission and verification are suspended in the affected centres.
Finance Zee moves SAT, seeks one-day extension for warrant subscription after Rs 75 crore delay
Zee Entertainment Enterprises has approached the Securities Appellate Tribunal (SAT) seeking a one-day extension to complete a warrant subscription by promoter entity Sunbright Mauritius Investments, after about Rs 75 crore of the subscription amount was credited after the deadline. SAT, which had earlier allowed the warrant issuance and set an Aug 21 deadline, is expected to rule on Thursday.
Finance EAC-PM Report Seeks Bank Mergers to Create Global-Scale Lenders
A report by the PM Economic Advisory Council recommends consolidating Indian banks into a few large institutions of equal size to build globally competitive lenders. The study shows mean technical efficiency of scheduled commercial banks recovered to 88.3% in FY26 from 78% in FY20, with public sector banks leading the turnaround.
Finance RBI Turns Net Buyer of Dollars in June After Two Months of Heavy Sales
The Reserve Bank of India turned net buyer of dollars in June, purchasing $561 million after selling $6.1 billion in May and $3.6 billion in June 2025. An NRI deposit swap scheme boosted inflows, narrowing cumulative FY net sales to -$14.5 billion and cutting the forward short position to -$103.3 billion.
Finance Federal Bank Shares Fall 3% on Merger Talks with Jana Small Finance Bank
Federal Bank shares closed 3% lower after reports of merger talks with Jana Small Finance Bank, which fell 2%. Both lenders told stock exchanges they evaluate business opportunities in the ordinary course, without confirming or denying the discussions. RBI had returned Jana's universal banking licence application in June 2025.
Finance Air India Seeks $1.5 Billion From Owners Tata and Singapore Airlines in Phased Capital Infusion
Air India has approached Tata Sons and Singapore Airlines for a $1.5 billion phased capital infusion, its first major shareholder funding since 2021. The request follows a Rs 22,238 crore FY2026 loss, more than double the prior-year deficit, and comes as chairman N Chandrasekaran prepares to step down in February 2027.
Finance BMO's Trucking Loan Sale Ends Rare Public Credit Data as Diesel Prices Spike
BMO's sale of its transportation finance unit to Stonepeak will almost certainly end quarterly disclosure of truck loan credit metrics, a rare transparency window tracked by FreightWaves. Meanwhile, the DOE EIA's weekly retail diesel price hit approximately $5.643 per gallon, the highest since Middle East military action began, adding cost pressure to carriers.
Finance Likely BMO swan song shows trucking credit strengthening
BMO's likely final quarterly report for its trucking lending unit showed credit conditions strengthening, with provisions for credit losses falling to $15 million and gross impaired loans dropping to $440 million. The bank, which is selling the transportation unit to Stonepeak, also saw loan originations nearly halt as the deal approaches closing.
Finance OnlyFans owner paid $700m in dividends before his death
BBC News reports that Leonid Radvinsky, the late owner of OnlyFans, received more than $700m (£513m) in dividends before his death in March. Its owner Fenix International posted a $714m pre-tax profit last year, up 5% from 2024, while paying out over $600m in UK corporate taxes since 2016.
Finance Rupee Slips to 95.74 Against US Dollar as Crude Prices, Importer Demand Weigh
The rupee weakened 4 paise to 95.74 against the US dollar in early trade on Tuesday, pressured by higher crude prices and importer demand, according to Business-Today. The RBI's intervention through state-run banks kept the currency range-bound around ₹95.50–96.00, with the dollar index at 99.04 and Brent crude at $92.45 a barrel. The central bank's USD-INR swap facility has mobilised $73 billion in forex inflows as of August 21.
Finance RBI Steps In to Support Rupee as Oil Prices and Dollar Demand Rise
The RBI likely intervened in the foreign exchange market on Tuesday to support the rupee, which was little changed at 95.7350 per dollar despite elevated oil prices and corporate dollar demand, four traders told Reuters. Brent crude traded at $92.45 a barrel, the dollar index at 99.04, and India's equity benchmarks opened lower. Separately, the RBI's special USD-INR swap facility mobilised $73 billion in forex inflows as of August 21.
Finance Bitcoin Crosses $80,000 for First Time Since Mid-May on Weaker Dollar, Up 28% in August
Bitcoin crossed $80,000 for the first time since mid-May, reaching an intraday high of $81,237.94, as a weaker dollar and Treasury plans to buy back long-dated bonds drove demand for alternative assets. The cryptocurrency gained 28% in August, its biggest monthly increase since November 2024, after President Trump urged clearer cryptocurrency rules.
Finance Only 1 in 15 Indians Carry Active Smartphone Protection Even as 72% Report Damage
A new OneAssist-Hansa Research study finds fewer than 1 in 15 Indian smartphone owners carry active device protection, even as 72% report accidental damage and 82% have dropped their phones. The study, based on 1,260 respondents, identifies cost concerns, limited understanding, and claims distrust as structural barriers, and highlights the refurbished device segment as a parallel adoption front.
Business Wall Street Snaps 3-Day Slide as Treasury Yields Fall on Bond Purchase Plans
Wall Street snapped a three-session slide on Wednesday after the US Treasury Department said it would at least double purchases of longer-dated government bonds, pulling yields down. The S&P 500 gained 0.3%, while corporate earnings from Estee Lauder, Moderna and Merck lifted sentiment.
Finance Monzo down as users unable to make card payments or transfers
Monzo users were left unable to make card payments or transfers after a technical problem with the digital bank, according to BBC News. The bank activated its Monzo Stand-in backup service, but some customers reported it was not working as expected. Monzo said it was rolling out a fix to restore full service.
Finance Yandra Haragopal, former NABCONS MD, appointed Managing Director of NABFINS
The Hindu BusinessLine reported that Yandra Haragopal has been appointed Managing Director of NABFINS, a NABARD arm based in Bengaluru. Haragopal previously served as MD of NABCON/NABCONS for over two and a half years. NABFINS provides affordable financial services and cash-flow-based credit to low-income groups.
Business Top Stocks to Buy Today: Bata India, IFCI, KFin Technologies Picks for August 19, 2026
Anand Rathi Shares' Mehul Kothari has recommended Bata India, IFCI, and KFin Technologies as top stock buys for August 19, 2026. The report includes specific buy zones, stop losses, and price targets based on technical indicators like RSI, DMI, and the Keltner Channel.
Finance FM Sitharaman directs 12 state-run banks to launch Banking for Youth campaign for GenZ
Finance Minister Nirmala Sitharaman directed 12 state-run banks to launch a month-long 'Banking for Youth' campaign from Oct 2 for those above 16, adopting a lifecycle approach to build lifelong ties with GenZ customers. The move comes as PSBs have lost ground to nimble private lenders among younger Indians.
Finance Creditors Recover Just 1% of Claims on Personal Guarantees, IBBI Data Shows
Creditors have recovered just Rs 235 crore — around 1% of admitted claims — from personal guarantees invoked under the IBC, according to IBBI data. Resolution professionals were appointed in only 41% of the 5,186 applications filed since December 2019, and just 64 cases have approved repayment plans.
Finance Rupee banknotes outnumber dollar and euro in circulation, RBI deputy governor says
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the volume of US dollar bills and nearly six times euro notes. The scale reflects India's denomination mix and a 'cash paradox' of double-digit currency growth amid rising digital payments.
Technology AI Financial Advisors Multiply as KPMG Report Shows Finance AI Adoption at 75%
KPMG's 2026 Global AI in Finance report, based on 1,013 senior finance leaders, found active AI use in finance more than doubled since 2024, from 30% to 75%. Experts from AI Accountant and ClearTax detail where AI handles routine tasks and where human judgment remains essential for tax and risk decisions.
Finance Regional Rural Banks expand credit delivery 10.3%, Ministry of Finance reports
According to News on AIR, the Ministry of Finance reported that Regional Rural Banks' gross loans outstanding rose 10.3% in 2025-26 to over Rs 5.78 thousand crore. Almost all RRBs achieved the overall Priority Sector Lending target, and credit to weaker sections reached Rs 3.49 lakh crore.
Finance Banks Closed in Tripura on August 19: Branch Holiday Tests Treasury Planning
Banks in Tripura will remain closed on August 19 for Maharaja Bir Bikram Kishore Manikya Bahadur's birthday, according to Business Today. While digital banking continues, branch-dependent transactions such as cheque processing, demand draft issuance, and large cash handling require advance planning. State-specific holiday calendars also affect multiple states later in August.
Finance ASK Property Fund books ₹340 crore exit from Chennai's Shriram 122 West project
ASK Property Fund exited its investment in Shriram 122 West, a Chennai residential project, realising ₹340 crore against ₹215 crore invested — a gross return multiple of 1.6x. The exit is the second under the ASK-Shriram partnership platform, which dates to 2012, according to The Hindu Business Line.
Finance Rupee Banknotes in Circulation Triple Dollar Bills, Nearly Six Times Euro Notes
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the number of US dollar bills and nearly six times euro notes. India produces 28–30 billion notes a year and is exploring polymer and coatings to extend note life. Currency in circulation keeps growing at double-digit rates despite digital payment adoption.
Finance Rupee slips 7 paise against US dollar as Brent crude tops $91 per barrel
The rupee slipped 7 paise to 95.68 against the US dollar on Tuesday as Brent crude futures topped $91 a barrel and the RBI closed its concessional FCN (B) swap window. The dollar index was steady at 99.63, while FIIs net sold Rs 2,535.10 crore in equities. Anil Kumar Bhansali of Finrex Treasury Advisors said the RBI may allow further depreciation.
Finance From kirana to currency: Small towns are scrambling for dollars
Small towns have surpassed major cities in India's foreign exchange demand, driven by international travel, education and business spending. Reports from Mastercard, ClarityX, MapmyIndia, TOI and Worldpanel document rising retail, housing and premium consumption in tier-2 and tier-3 markets. Treasury and finance executives should note the broadening base of dollar demand beyond metropolitan India.
Finance Prisma Global issues Rs 200 crore bonds in first Indian AI company debt offering
Prisma Global, a Mumbai-based AI solutions company, has issued Rs 200 crore of bonds — the first debt offering by an Indian AI company. The Rs 50-crore base tranche, carrying a 10% coupon for two years, was fully subscribed within the first hour and nearly eight times oversubscribed by 3pm, triggering the Rs 150-crore greenshoe option.
Finance High-Level Committee on Banking Reforms to Be Announced Soon, Says FM Sitharaman
Finance Minister Nirmala Sitharaman said the government will 'soon' announce the high-level committee on banking reforms, which was unveiled in the Budget 2026-27. Speaking at a conclave of 12 public sector banks and financial institutions in New Delhi, she lauded improved asset quality and said the committee will receive inputs from the two-day deliberations. A senior finance ministry official indicated the panel could be announced by the end of this month.
Business Top Stock Picks for August 18, 2026: Mphasis, Supreme Industries, United Spirits, Kfin Technologies
Mirae Asset ShareKhan's Somil Mehta recommended four stocks on August 18, 2026: Mphasis, Supreme Industries, United Spirits, and Kfin Technologies. According to TOI Business Desk, each pick includes a target range and a stop-loss level on a closing basis, driven by technical breakouts and momentum crossovers.
Finance Progressive battles truck crash claim, says tractor-trailer wasn't covered
Progressive Express Insurance Co. has sued in Houston federal court for a declaratory judgment that it owes no coverage for a 2023 tractor-trailer crash on U.S. Highway 290 involving MMT Carriers and driver Rolando Rodriguez-Nunez. The insurer says the crash equipment—a 2005 Volvo tractor and 2015 utility trailer—was not listed on the policy, which covered a 2012 Freightliner Cascadia. The underlying personal injury lawsuit seeks more than $1 million in damages.
Finance REIT Quarterly Distributions Cross ₹3,000 Crore as Listed Universe Expands
India's listed REITs distributed ₹3,136 crore in Q1 FY27, more than double the ₹1,559 crore paid a year earlier, driven by new listings and portfolio performance. The sector expanded to six trusts from four, with cumulative payouts crossing ₹34,800 crore and gross AUM exceeding ₹3.17 lakh crore.
Finance Sebi chief Pandey says CAS won't be rolled back; regulator open to feedback
Securities and Exchange Board of India (Sebi) chairman Tuhin Kanta Pandey said the Closing Auction Session (CAS) introduced on August 3 will not be rolled back, according to Business-Today. The regulator is reviewing feedback from market participants, including social media comments, but has not announced specific changes. Pandey said difficulties may diminish as more participants adopt the system.
Finance India Bank Holidays in August 2026: State-Wise Closures This Week
Banks across multiple Indian states will remain closed on August 19, 25, 26 and 28, 2026 for regional festivals and observances, according to Business-Today. Branch-based services such as cheque processing, demand drafts and large cash transactions will be unavailable, while internet banking, mobile banking, ATMs and UPI remain operational. The RBI also mandates closure on the second and fourth Saturdays of every month.
Finance Rupee falls 17 paise to 95.59 as RBI brings forward FCNR swap deadline
The Indian rupee weakened 17 paise to 95.59 against the US dollar in early trade after the Reserve Bank of India moved the FCNR (B) concessional swap facility cut-off to August 31 from September 30. The facility has attracted $56.84 billion as of August 13, while India's forex reserves rose $14.136 billion to $707.002 billion in the week ended August 7.
Business JP Morgan targets bigger M&A role as RBI opens domestic acquisition financing
JP Morgan is positioning for a larger M&A financing role in India after RBI allowed domestic lenders to fund acquisitions. The bank says it can now offer onshore and offshore capabilities, including INR-denominated funding, ECB dollar financing, FPI structures, and GIFT City mechanisms, at a time when Indian corporates are returning to bank financing and expanding overseas.
Finance IBBI floats paper to check misuse of insolvency law, flags nine red flags
The Insolvency & Bankruptcy Board of India has floated a discussion paper to prevent misuse of the corporate insolvency resolution process. It lists nine red flags—including negligible operations, related-party lending, and common resolution applicants—and proposes that suspected fraud cases be filed before the NCLT.
Business Five of Top 10 Indian Firms See Rs 1 Lakh Crore Market Cap Erosion
According to Business Today, five of India's top-10 most valued firms -- Reliance Industries, HDFC Bank, ICICI Bank, SBI and TCS -- lost Rs 1 lakh crore in combined market cap last week, with TCS hit hardest. The BSE Sensex fell 0.6% and Nifty dropped 0.8%, while five gainers led by LIC and Bharti Airtel added Rs 55,149 crore.
Finance Bank Switching Incentives Hit £220 as Loyalty Costs UK Savers £12bn
More than five UK banks are offering up to £220 to switch current accounts. Hargreaves Lansdown research finds nearly two-thirds of savers have stayed over a decade, costing £12bn in missed interest annually. Experts say compare service, fees, and savings rates, not just bonuses.
Finance Seven IPOs to Raise Rs 6,400 Crore as India's Primary Market Stays Packed
Seven companies are scheduled to launch IPOs between August 17 and 21, aiming to raise more than Rs 6,400 crore collectively. The line-up includes Horizon Industrial Parks, Lalithaa Jewellery Mart and Augmont Enterprises. Proceeds will be used for expansion, capital expenditure and debt repayment, with OFS components providing exits for selling shareholders.
Finance Higher 25% SPV Surcharge Tempers Gains from REIT, InvIT Tax Overhaul; Industry Seeks Relief
The proposed REIT and InvIT tax overhaul, passed by the Lok Sabha, restores dividend exemption for unitholders but raises the SPV surcharge to 25% from 10%, tempering near-term distribution gains. Experts said the concessional regime still offers a lower effective tax rate of about 28.60% versus 34.94% under the old framework, and industry is seeking relief on the surcharge.
Finance Berkshire Hathaway raises Alphabet stake to $37.76bn, adds homebuilders in Q2 reshuffle
Berkshire Hathaway raised its Alphabet stake to about 106 million shares worth $37.76 billion and added homebuilders while trimming financial holdings in Q2, according to Business-Today. CEO Greg Abel agreed to a $10 billion Alphabet investment in June, and Alphabet plans an $80 billion raise for AI infrastructure.
Finance Flat Nifty Hides Wide Two-Year Gap Between Top and Bottom Equity Fund Performers
Over the two years ended August 10, 2026, the Nifty 50 delivered annualised price returns of just 0.4 per cent (1.7 per cent total return), yet actively-managed equity funds ranged from a 10 per cent loss to a 20 per cent gain. A bl.portfolio analysis of 449 schemes found 52 per cent of funds beat their benchmarks, with outperformance concentrated in multi-cap, flexi-cap and small-cap categories and in larger fund houses.
Finance India’s forex demand shifts beyond metros as tier-2, tier-3 cities take 53% share
Tier-2 and tier-3 cities accounted for 53% of India's foreign exchange demand, with tier-2 alone at 41%, according to Thomas Cook India's Forex Report 2026. Leisure travel drove 57% of transactions, the US dollar led currency demand at 49%, and digital purchases grew 25% year-on-year.
Finance Anthropic's $200 billion 2028 revenue forecast shapes record IPO valuation
Anthropic is preparing for one of the world's biggest IPOs, with investors and bankers using 2028 revenue projections of $190–200 billion to assess its valuation, according to Business Today. The forecast far exceeds the $47 billion revenue run rate disclosed in May and the $10.9 billion projected for Q2 2026. Investors are benchmarking the AI firm against Palantir, Cloudflare and SpaceX.
Finance RBI bars lenders from locking phones over missed EMIs under new recovery rules
The Reserve Bank of India has released final norms on loan recovery that prohibit lenders from disabling borrowers' mobile phones, tablets or laptops as a recovery tool, except for devices financed through loans. The new framework, effective January 1, 2027, sets a graduated restriction timeline, compensation for delayed unlocking, and certification requirements for device-locking software.
Finance Nvidia discloses $21 billion SpaceX stake as Musk ties deepen
Nvidia disclosed a nearly $21 billion stake in Elon Musk's SpaceX, holding 123 million shares that have since fallen to about $17 billion after the rocket company's June IPO. The chipmaker has committed more than $100 billion to AI companies and plans a $500 billion consortium to finance customers.
Finance Max Estates Q1 Profit Drops 30% to ₹8.35 Cr, Total Income Flat at ₹80 Cr
Max Estates Ltd reported a 30% year-on-year decline in consolidated net profit to ₹8.35 crore for the June quarter, with total income flat at ₹80.07 crore. The Delhi-NCR realty developer, a Max Group arm, cited flat revenue for the drop. The company also operates services arm Max Asset Services.
Finance RBI to Close FCNR(B) Scheme on Aug 31 After $52.3 Billion Raised
The RBI will close its special FCNR(B) deposit scheme on Aug 31 after banks raised $52.3 billion in deposits by Aug 13. Total inflows under the USD-INR swap facility, including OFCBs and ECBs, reached $56.9 billion. SBI mobilised roughly $7.3 billion under the programme.
Finance India's forex reserves climb to $707 billion, mark $14.1 billion jump
India's foreign exchange reserves rose by $14.136 billion to $707.002 billion in the week ended August 7, according to RBI data. The gain follows a $10.512 billion increase in the prior week and comes after measures including the FCNR(B) deposit scheme attracted about $40 billion in inflows, according to reports.
Business Sensex Falls 71 Points, Nifty Slips 30 As Markets End Flat; LEAP India Debuts Strong
Indian equity benchmarks ended flat on Friday, with the Sensex down 71 points and the Nifty off 30 points. The decline tracked mostly lower Asian shares, though US inflation data showed better-than-expected improvement. LEAP India Ltd listed over 4% above its issue price with an 8.38-times subscribed IPO.
Finance FTC Strikes Deals to Ignore Unlawful Credit Discrimination Claims
The FTC reached agreements with two auto dealers and a former general manager to abandon court-ordered fair lending obligations, dropping future disparate-impact enforcement. Arizona AG Kris Mayes condemned the move, while experts warn about implications for AI-driven lending.
Business Stocks to Buy August 14, 2026: Amara Raja, Indian Bank, Kfin Picks
Hitesh Rathi, Technical Analyst at Angel One, has recommended Amara Raja Energy & Mobility, Indian Bank, and Kfin Technologies for purchase on August 14, 2026. The picks include specific buy price bands, stop-loss levels, and price targets based on Renko and Point and Figure chart patterns.
Finance Irdai Effort-Based Commission Caps May Hit Low-Value Life Insurance Covers
Irdai is weighing an effort-based commission framework that would tie distributor payouts to selling effort. Business Today reported that life insurers fear lower commissions for group and embedded products could shrink coverage among low-income borrowers reached through banks, NBFCs and microfinance institutions. Corporate agents and brokers accounted for over Rs 61,000 crore — about 60% of private insurers' new business premium in FY25.