AI-summarised news on banking, stocks, economy, crypto, budget, and RBI
The Reserve Bank of India's Monetary Policy Committee voted 5-1 to hold the repo rate at 6.5% for the sixth straight quarter. Governor indicated the decision balances inflation concerns with growth momentum. The next MPC review is scheduled for August 2026. Source: Economic Times.
State Bank of India reduced its Marginal Cost of Funds Based Lending Rate by 10 basis points across all tenors, effective June 1, 2026. This marks the first MCLR cut in 18 months, making home and auto loans more affordable for borrowers. Existing SBI customers with MCLR-linked loans will benefit from the rate reduction. Source: MoneyControl.
India's Nifty50 index crossed the 25,500 milestone for the first time in history, driven by strong inflows from foreign institutional investors and robust Q4 earnings. Banking, IT, and energy sectors led the rally with gains of over 2%. Analysts expect the bullish trend to continue as inflation cools. Source: CNBC-TV18.
Bitcoin crossed the ₹1 crore mark in Indian exchanges, fuelled by global institutional adoption and the upcoming Bitcoin halving event. Trading volumes on Indian crypto exchanges surged 340% month-on-month. Crypto analysts warn of volatility while noting the growing mainstream acceptance of digital assets in India. Source: CoinDesk.
India's economy grew at 6.2% in the fourth quarter of FY26, missing analyst expectations of 6.5%, as manufacturing slowed. Full-year GDP growth came in at 6.5%, meeting the RBI's forecast. Economists predict a rebound in FY27 supported by rural demand recovery and infrastructure spending. Source: Livemint.
HDFC Bank reported a net profit of ₹16,800 crore for Q4 FY26, an 18% increase year-on-year, driven by strong growth in retail and rural lending. The bank's asset quality remained stable with GNPA at 2.1%. The merger integration with HDFC is now 90% complete, boosting operational efficiency. Source: Business Standard.
The RBI has directed all card issuers to extend the full bill payment waiver window from 15 days to 20 days and simplify credit card billing statement disclosures. These revised guidelines under the Credit Card Billing Statements (CCBS) framework will take effect from July 1, 2026. Cardholders will receive clearer breakdowns of interest, fees, and rewards. Source: The Hindu BusinessLine.
Tata Motors approved a ₹15,000 crore capital expenditure plan focused on expanding its electric vehicle portfolio and battery technology. The investment will fund three new EV models and a gigafactory with 20 GWh capacity. This is the largest auto sector EV commitment in India to date. Source: Financial Express.
India has emerged as the fastest-growing market for Ethereum Layer 2 solutions, with adoption surging 300% in the first quarter of 2026. Average gas fees on L2 networks dropped below $0.01, making DeFi and NFT transactions affordable. Polygon and Arbitrum reported the highest user growth from Indian addresses. Source: CoinTelegraph.
The Union Budget 2026 reduced customs duty on EV battery components, motors, and charging infrastructure from 18% to 10%. The government aims to attract ₹50,000 crore in EV manufacturing investments and create 2 lakh jobs by 2030. This complements the ₹5,000 crore Production Linked Incentive scheme for advanced chemistry cells. Source: PTI.
