Private banks recorded a sharper fall, primarily because they have a higher share of loans priced on the external benchmark linked rate (EBLR) in their portfolio. EBLR adjusts more rapidly to policy changes than the marginal cost of funds-based lending rate (MCLR), the benchmark that most PSB loans are linked to.

Credit card issuers in India experienced a decline in new card additions in June 2025. Reserve Bank of India data indicates overall industry growth turned negative for the first time since Covid-19. Credit card spending also decreased. ICICI Bank and Kotak Mahindra Bank saw significant drops in cards in use. Banks are now focusing on high-quality customers.

A new income tax bill threatens to increase taxes for Indian promoters and family offices using LLPs for investments. The proposed law expands the scope of the Alternative Minimum Tax (AMT) on LLPs, potentially raising the tax rate on profits from the sale of securities from 12.5% to 18.5%, impacting investment entities regardless of claimed deductions.

The company is tapping a mix of banks, NBFCs, and mutual funds at a blended cost of around 10.5%, potentially lowering its average borrowing cost by nearly 300 basis points. Tata Capital is expected to contribute Rs 1,000 crore, while JP Morgan, Deutsche Bank, and Barclays are likely to bring in Rs 1,000 crore, Rs 1,500 crore, and Rs 1,000 crore, respectively. Mutual funds may provide the remaining Rs 1,200 crore.

Eternal s shares soared over 10% despite a profit dip, fueled by positive management outlook and Blinkit s strong performance, surpassing market expectations. Brokerages raised target prices, citing Blinkit s market share gains over Zepto and improved profitability. The company s focus on dark store expansion is now yielding positive results, making it a preferred pick for investors.

NSDL has received SEBI s in-principle approval for a stock exchange listing by August 14, following delays due to valuation negotiations. The IPO, initially planned for July, is now expected to launch by late July or early August, targeting a ₹16,000 crore valuation. The issue size has been reduced to 50.

Andrew Lo, an MIT professor, predicts AI will soon manage investments. He believes AI could make financial decisions for clients within five years. Lo envisions AI agents working autonomously. These agents will act in the best interests of clients. Currently, Wall Street uses AI for basic tasks. Lo s vision sees AI meeting the fiduciary standard.

Lawrence Summers supports Treasury Secretary Scott Bessent s scrutiny of the Federal Reserve s non-monetary policy activities, highlighting the need for autonomy in setting interest rates. He suggests shared responsibility in financial regulation and caution regarding non-financial policy involvement. Summers also opposes calls for Jerome Powell s resignation, emphasizing the importance of Fed independence.

Hong Kong Monetary Authority (HKMA) has penalized Indian Overseas Bank s Hong Kong unit with HK$8,500,000 for AML/CFT regulation violations. The bank failed to maintain effective procedures for continuous monitoring of customer relationships. HKMA has directed the bank to review past transactions and implement corrective measures to address compliance shortcomings.

Banks profitability received a boost from higher treasury gains in the June quarter, offsetting pressure on net interest margins following the RBI s rate cuts. While some banks experienced dips in net profit due to asset quality issues, treasury income provided a crucial buffer. However, executives anticipate reduced treasury opportunities in the second quarter as bond yields stabilize.