RBI sells over $5 billion in dollar market intervention to support Rupee: Report
The Reserve Bank of India sold US dollars across both onshore and offshore currency markets this month to prop up the rupee as it weakened toward a record low.

RBI moots 15-day deadline, penalties for delays in settling deceased customers’ accounts
The Reserve Bank of India (RBI) has proposed a uniform process to make it easier and faster for families or legal heirs to claim money and valuables from the bank accounts, lockers, or safe custody articles of deceased customers. For that, the RBI has proposed a 15-day deadline within which the banks must settle all the claims after receiving the required documents. The banker’s bank also drafted compensation to nominees or legal heirs for delays. 

RBI simplifies process for opening special rupee accounts to boost rupee trade
The Reserve Bank of India (RBI) has made it easier for banks to open Special Rupee Vostro Accounts (SRVAs), a key step to promote international trade in Indian Rupee.

RBI says re-KYC completed for over 3.5 mn accounts in FI campaign
Mumbai: The Reserve Bank of India (RBI) on Monday said banks have completed re-KYC for over 3.5 million accounts, with the process being closely monitored by the government and the central bank. Banks are currently conducting a nationwide campaign at the Gram Panchayat level from July 1 to September 30, 2025, to ensure saturation of financial inclusion (FI) schemes. As part of this drive, re-KYC of bank accounts is also being undertaken, the RBI said in a statement.

RBI Governor on ICICI Bank’s ₹50,000 minimum balance rule: ‘Not our regulatory domain’
Mehsana (Gujarat): Days after ICICI Bank raised the minimum monthly average balance (MAB) for new savings bank customers to ₹50,000, Sanjay Malhotra, Governor of the Reserve Bank of India --- during his maiden visit to Gujarat on Monday --- said that the issue is “not part of its regulatory domain”.

Trump’s 50% levy is forcing Indian banks to scrutinize exporters
Indian banks are increasing scrutiny of new loan applications from exporters by asking about exposure to the American market and contingency plans for coping with US President Donald Trump’s steep tariffs, according to people familiar with the matter.   Bloomberg News spoke to officials at five large Indian lenders who said they’re assessing the financial ramifications of the punitive levies on their clients, especially those in the export-dependent textile, gem and jewelery sectors. They all spoke on the condition of anonymity, as the information is not public.

India defies Trump’s Dollar diktat to accelerate rupee settlements for international trade
In a step to promote international trade in Indian Rupees (INR), the Reserve Bank of India (RBI) has announced that Authorised Dealer (AD) banks no longer need permission from the RBI before opening Special Rupee Vostro Accounts (SRVAs) for foreign banks. This move aims to speed up the opening and use of these accounts, helping facilitate rupee-based trade settlements.

RBI co-lending guidelines likely to raise lenders’ cost burden
Even though the Reserve Bank of India’s final co-lending guidelines provide more clarity and a regulated path, it is likely to drive up operational costs for lenders, market participants said.

RBI clears merger of Hinduja Leyland Finance with NDL Ventures
Ashok Leyland on Monday said the Reserve Bank of India (RBI) has cleared the merger scheme of its subsidiary Hinduja Leyland Finance with NDL Venture.

The Significance of RBI’s No-Objection Certificate

RBI washes hands off ICICI Bank's five-fold increase in minimum balance
The RBI has washed its hands off the five-fold increase in the average monthly minimum balance requirement that ICICI Bank has introduced on new non-salary accounts -- ranging from Rs 10,000 in rural branches to a high Rs 50,000 in metro branches from this month -- saying the subject is not within the regulatory purview of the central bank.

Punjab National Bank targets Rs 30 lakh crore business in FY26, eyes double-digit lending growth
Punjab National Bank is targeting a Rs 30 lakh crore business in FY26. Ashok Chandra, MD and CEO of the Punjab National Bank, told PTI that the bank has devised the right strategies to reach a Rs 30 Lakh crore business milestone by the end of the financial year 2026. 

Civil society forum protests ICICI Bank’s minimum balance hike in savings accounts, writes to govt
Kolkata: A civil society organisation advocating banking stakeholders’ interests has written to the Finance Ministry, requesting its intervention into ICICI Bank’s decision to raise the minimum average balance (MAB) requirement for new savings accounts, and said such a move is detrimental to the government’s vision of inclusive banking and growth.

Jay Kotak criticises ICICI Bank’s Rs 50,000 MAB decision
Jay Kotak, co-head of Kotak811 and son of veteran banker Uday Kotak, on Monday took to X to criticise ICICI Bank’s decision to raise the minimum average balance (MAB) for new savings accounts to Rs 50,000 from Rs 10,000.

Indian Banks’ ad spends surge 160% in 5 years
Indian banks have experienced a significant and strategic shift in their advertising and publicity (ad) expenditure. This shift underscores the evolving perspective of financial institutions towards brand-building and customer acquisition, marking a crucial trend in the industry. Over the past five years, the 11 large-cap banks across the public and private sectors, which have published their FY25 annual report, have witnessed a substantial surge in ad spends. This surge, amounting to a 2.5 times (160%) increase, highlights their determination to strengthen their presence in a competitive and digitally fragmented market.

PNB set to sell NPAs worth Rs 5,000 crore to ARCs, targets 50% minimum realisation: MD Ashok Chandra
In a bid to shore up recovery, the country’s second-largest public sector lender Punjab National Bank (PNB) has identified about 100 non-performing asset (NPA) accounts for sale to asset reconstruction companies (ARCs) during the current financial year.

Why AU SFB’s universal banking licence matters
AU Small Finance Bank has become the first small finance bank in over a decade to secure a universal banking licence from the banking regulator. The approval marks a significant shift in the bank’s operational scope, explains Ashvin Parekh

Banks free to set minimum balance, says RBI Governor Sanjay Malhotra after ICICI Bank's latest move
These banks don't ask for minimum balance requirement in savings accounts; check full list here

Focused on maintaining low-cost funding profile, says ICICI chairman
 

BL Explainer: Decoding ICICI Bank’s move to sharply raise minimum account balance for new customers
Private sector major ICICI Bank is facing public backlash for steeply raising the minimum monthly average balance (MAB) requirement for new Savings Bank (SB) deposit customers with effect from August 1, 2025. The lender has hiked its MAB requirement for new depositors in metro & urban and semi-urban locations by up to five times to ₹50,000 and ₹25,000, respectively. For customers in rural locations, the MAB has risen four times to ₹10,000. businessline explains the rationale of the move, whether this will lead to material business impact, why it is drawing the public ire and will it prompt other banks to follow suit.

Fusion Finance gains over 4% as Q1 results show asset quality boost
 

JM Fin posts best quarterly operating profit in Q1
JM Financial reported its highest-ever quarterly operating profit after tax of ₹454 crore for Q1 FY26, marking a 166 per cent year-on-year increase. The financial services firm’s consolidated net worth has surpassed ₹10,000 crore, with a book value per share of ₹106.4.

Central GST authorities have not issued any notices based on UPI transactions, FinMin says after furore in Karnataka
With transactions of small businesses under the tax scanner, the Ministry of Finance on Monday stated that the Central GST authorities have “not issued any notices based on UPI transactions”.

Who pays the UPI piper?
When was the last time you paid with cash? Can’t remember? Entirely understandable because, from buying milk in the morning to applying for shares in an IPO, UPI is now everywhere. Official data inform us that as a payment mechanism, UPI has been used by the average Indian to put through over 1,800 crore transactions worth ₹24 lakh crore in June alone. Fair to say, that paper currency or its paper equivalents in the banking realm, such as cheques, demand drafts, etc., are fast losing relevance for a vast majority of Indians.

Bank of Baroda announces major enhancement to UPI app bob e-Pay, introduces three international features
State-owned Bank of Baroda, on Monday, 11 August 2025, announced its new Unified Payments Interface (UPI) application, the ‘bob इ Pay’ or the ‘bob e-Pay’ app, to provide seamless, secure, and real-time cross-border digital payments to its users, according to a press release.

Bank of Baroda aims to help users carry out international transactions through three key features: UPI Global Acceptance, Foreign Inward Remittance, and UPI Services for Non-Resident India (NRIs) and Indians travelling abroad.

UPI most frequently used for paying groceries, restaurants bill: NPCI
 

IBC, EASE, UPI: MoS Finance highlights measures building resilient banking future
 

International use of UPI surges, 6 lakh transactions in first 4 months of FY26
 

ICICI Investment Banking Head Saraf to Move to Retail Broking
 Ajay Saraf, who has led ICICI Securities Ltd.’s investment banking division for nearly 15 years, will move to become the head of the Indian firm’s retail stock broking and wealth business, according to people familiar with the matter.

‘Stick to moderate duration bonds, ‘ says Anurag Mittal, Fixed income head, UTI AMC
UTI AMC is reducing the 10-year benchmark from its portfolio and moving towards 2 to 5-year AAA bonds. Anurag Mittal, fixed income head, UTI AMC tells Ananya Grover and Christina Titus that investors should stick to moderate duration bonds to avoid volatility in fixed income. Excerpts:

Long-short funds: Know the risks before you invest
The Securities and Exchange Board of India’s new Specialized Investment Funds (SIFs) framework has officially come to life with the Quant Mutual Fund receiving regulatory approvals to launch the country's first long-short fund.  

Mutual fund SIP inflow hits record high in July, rises 4% to Rs 28,464 crore
The mutual fund SIP inflows rose 4% to hit a record high of Rs 28,464 crore as against Rs 27,269 crore recorded in June.  The number of new SIPs registered in July 2025 stood at 68,69,061 against 61,91,178 in June and 59,14,788 in May.

The retail mutual fund folios (Equity + Hybrid + Solution Oriented Schemes) are at 19,41,95,038 for the month of July 2025 as against 19,07,05,687 in June 2025. The retail AUM (Equity + Hybrid + Solution Oriented Schemes) stood at Rs 43,90,919 crore for July 2025, while the May 2025 AUM was Rs 43,99,405 crore.

The SIP AUM is at Rs 15.19 lakh crore for the month of July 2025 against 15.30 lakh crore in June. The number of contributing SIP accounts stood at 9.11 crore in July 2025, compared to 8.64 crore in June.

Mutual fund folios are at 24,57,24,339 as of July 2025 against 24,13,44,556 in June. The AAUM for the month of July 2025 is Rs 77,00,420.46 crore.

“The total Assets under Management grew by 1.3% to Rs 75.36 Lakh Crores, despite pressures from a strong US Dollar and persistent foreign fund outflows. This is a testament to sustained investor confidence and disciplined participation,” said Venkat N Chalasani, Chief Executive, AMFI.

“Equity mutual funds recorded their highest-ever monthly inflow of Rs 42,702 crore, with DIIs maintaining strong support. SIP contributions hit a new record of Rs 28,464 crore, and contributing accounts grew 5.4% to 9.11 crore — clear evidence of disciplined investing even amid volatility,” he added.

“AMFI remains committed to investor education and fostering a transparent, well-regulated ecosystem that supports long-term wealth creation,” he further added.

“SIP numbers are also seeing a growth, with the Rs 28,464 crore mark now becoming a regular occurrence and could reach the Rs 30,000 crore monthly milestone soon. This reflects growing investor maturity, rising financial awareness, greater digital access, and sustained market confidence. The resilience of the Indian markets, despite global uncertainties, is remarkable. Using corrections as opportunities is wise, but in the long run, systematic investing remains the most powerful approach,” said Suranjana Borthakhur, Head of Distribution & Strategic Alliances, Mirae Asset Investment Managers (India).
https://economictimes.indiatimes.com/mf/mf-news/mutual-fund-sip-inflow-hits-record-high-in-july-rises-4-to-rs-28464-crore/articleshow/123233002.cms
SIP inflows hit new high of Rs 28,464 crore, equity inflows soar 81% in July

‘Equity not a low-risk asset, need allocation across debt, gold, and REITs,’ says S Naren of ICICI Pru
The Indian stock market is seeing some high-profile companies and startups getting an overwhelming response in their initial public offerings. S Naren, CIO of ICICI Prudential AMC, says that the current markets are very expensive and many stocks trade at a high price to earnings ratio of up to 40 to 60 times. 

Equity MF inflows soar 81% to record high of Rs 42,702 crore in July
Equity mutual fund inflows hit record Rs 42,702 crore in July, up 81% month-on-month
The Financial Express

Deep tech-focused VC firm Speciale Invest closes ₹600-crore new fund
Chennai-based Venture Capital (VC) firm Speciale Invest has closed its new fund – Fund III – at ₹600 crore, making it one of India’s largest pre-seed stage deep tech-focused fund.

There's ample room for new entrants in equity exchange: NCDEX MD & CEO
 

Sovereign Gold Bonds 147% returns: RBI announces premature redemption date for two SGB tranches
The Reserve Bank of India has announced Sovereign Gold Bonds (SGB) 2019-20 Series-IX and 2020-21 Series-V premature redemption date. The investors can opt for premature redemption on August 11, at Rs 10,070 per unit.