10 July 2026
Bankopedia Banking Digest — 2026-07-10 #104
- #1economic_timesneutral
RBI Deploys Triple Survey for Policy Calibration
The Reserve Bank of India (RBI) has launched three surveys — the Inflation Expectations Survey of Households, the Rural Consumer Confidence Survey, and the Urban Consumer Confidence Survey — for the July 2026 round to gather household-level data ahead of monetary policy decisions. All surveys span 19 cities and capture sentiment on prices, employment, income, and spending.
RBI deploys three simultaneous surveys across 19 cities to sharpen monetary policy inputs.
monetary_policy - #2economic_timesneutral
Market Funding Gains Edge Over Bank Credit
CareEdge expects bank credit growth to moderate as large corporates increasingly shift borrowing to bond markets and External Commercial Borrowings (ECBs), aided by RBI measures that have cut effective hedging costs. The RBI's forex swap facility has reduced ECB hedging costs from around 2.8% to a fixed 1.5%, making overseas funding significantly more attractive.
RBI's forex swap facility slashes ECB hedging costs to 1.5%, drawing corporates away from bank loans.
credit_marketscorporate_finance - #3moneycontrolneutral
Rupee Steadies on Dollar Weakness and RBI Support
The Indian rupee opened stronger at 95.26 per US dollar on July 10, supported by falling oil prices, a weaker dollar index at 100.61, and RBI measures aimed at improving foreign exchange liquidity. Geopolitical risks tied to Middle East tensions remain a key downside concern for the currency.
Rupee gains 12 paise to 95.26/$ as softer oil and RBI liquidity steps boost sentiment.
forex - #4moneycontrolpositive
DBS India Posts Strong Profit on Asset Quality Gains
DBS Bank India posted a 49% surge in net profit to ₹1,020 crore in FY26, driven by improved operational efficiency, 15% loan book growth, and a sharp halving of its gross non-performing asset (GNPA) ratio from 2.78% to 1.34%. A ₹1,600 crore capital infusion from parent DBS Bank bolstered its capital adequacy ratio to 19.7%.
DBS Bank India's net profit jumps 49% to ₹1,020 crore as asset quality improves sharply.
corporate_finance - #5financial_expressnegative
ADB Trims India Growth Outlook on Energy Drag
The Asian Development Bank (ADB) has trimmed India's FY27 GDP growth forecast by 30 basis points to 6.6%, citing elevated energy prices that compress real incomes and dampen household spending. The FY28 forecast remains unchanged at 7.3%, supported by improved global conditions and trade agreement-driven export competitiveness.
ADB cuts India's FY27 GDP forecast to 6.6%, citing energy price pressure on household demand.
economy_macro - #6reserve_bank_of_indianeutral
RBI Absorbs Surplus as Overnight Rates Hold Steady
India's overnight money market recorded total volume of ₹6,90,802 crore on July 9, 2026, with a weighted average rate of 5.28%. The Reserve Bank of India's net liquidity position showed an absorption of ₹1,20,978 crore, reflecting surplus conditions in the banking system.
RBI absorbed net ₹1,20,978 crore liquidity, signalling persistent surplus in the banking system.
paymentscredit_markets - #7moneycontrolpositive
SBI MF Bets on Bank Network to Double SIP Book
SBI Funds Management sees strong potential to double its SIP book by leveraging SBI's 530 million-strong customer base, particularly its 21 million salary account holders. Internally, the bank values a savings account linked to digital banking and a SIP at four times that of a standard savings account.
SBI MF targets doubling its SIP book using SBI's 530 million customers as a distribution lever.
financial_inclusiondigital_banking - #8economic_timesneutral
India's Digital Payments Growth Demands Stronger Policy Frameworks
India's Chintan Research Foundation convened policymakers, regulators and industry leaders in New Delhi to address emerging challenges in the country's fast-growing digital payments ecosystem. The conclave highlighted the need to balance innovation with robust frameworks covering cross-border payments, cybersecurity and data governance.
India's digital payments growth demands stronger policy frameworks on fraud, cybersecurity, and cross-border regulation.
paymentsdigital_bankingregulation - #9moneycontrolneutral
India's Macro Resilience Withstands West Asia Oil Shock
Portfolio management firm Ikigai Asset Manager argues that West Asia geopolitical tensions pose a limited macro risk to India, citing a fundamental shift in the country's economic architecture over the past two decades. India's oil consumption intensity has fallen 61%, making the economy far more resilient to crude price shocks than during earlier crises.
India's oil consumption intensity has dropped 61% over two decades, cushioning macro impact of crude price spikes.
economy_macroforex - #10moneycontrolneutral
Fed Enlists Rajan and Chetty for Monetary Policy Review
The US Federal Reserve has appointed five task force leaders, including Indian-origin economists Raghuram Rajan and Raj Chetty, to conduct a comprehensive review of how the central bank formulates and executes monetary policy. Fed Chair Kevin Warsh, who launched the initiative at his inaugural press conference in June, expects the review to be completed by year-end.
Fed appoints Raghuram Rajan and Raj Chetty to lead monetary policy review task forces under Chair Warsh.
monetary_policy - #11financial_expressnegative
Criminal GST Notices Cloud Online Gaming Sector
India's tax department invoked fraud provisions under Section 74 of the Central GST Act against online gaming companies, attaching criminal intent to a Rs 2 lakh crore retrospective demand. Critics argue the accusation is unjust given that companies transparently disclosed their tax computation methodology to the GST Council as far back as 2018.
GST dept's fraud-based notices against gaming firms contradict a decade of transparent, disclosed tax compliance.
regulation - #12moneycontrolneutral
Juniper Green Energy Trims IPO Under SEBI Flexibility Rules
Juniper Green Energy has slashed its IPO size by 40 percent to Rs 1,800 crore from Rs 3,000 crore, leveraging new SEBI regulations that permit issuers to revise fresh issue size by up to 50 percent without re-filing draft prospectus. The Gurugram-based renewable power producer, backed by Singapore's AT Capital Group, also revised the objects of the issue alongside the size cut.
Juniper Green Energy cuts IPO size 40% to Rs 1,800 crore using new SEBI flexibility norms.
capital_markets - #13moneycontrolpositive
Kusumgar IPO Closes with Robust 14x Subscription
Kusumgar Limited's Rs 650 crore IPO is subscribed over 14 times on its third and final day of bidding, driven by near-42x demand from non-institutional investors. Grey market activity signals strong listing expectations, with shares commanding a premium of Rs 158 per share.
Kusumgar IPO hits 14x overall subscription by Day 3, led by 42x non-institutional investor demand.
capital_markets - #14hindu_businesslineneutral
AU SFB and Zaggle Unite on Co-Branded Credit Card
AU Small Finance Bank and fintech platform Zaggle have jointly launched a co-branded retail credit card available on both Visa and RuPay networks, featuring a coins-to-cashback rewards model. The card targets everyday spending with accelerated rewards on Unified Payments Interface (UPI) and contactless transactions, redeemable via the zagg.money app.
AU SFB and Zaggle launch dual-network co-branded card with UPI-linked accelerated cashback rewards.
paymentsdigital_bankingfintech - #15moneycontrolnegative
Dr Reddy's Semaglutide Setback Weighs on Near-Term Outlook
Prabhudas Lilladher maintains an Accumulate rating on Dr Reddy's Laboratories with a target price of Rs 1,400 per share after cutting FY27 earnings estimates by 5% due to a temporary halt in Semaglutide supplies caused by active pharmaceutical ingredient (API) impurity issues. The brokerage expects resolution by October-November 2026, with Semaglutide contributing USD 180 million in FY28 sales as a key profitability driver.
Dr Reddy's Semaglutide supply halt cuts FY27 estimates 5%; resolution expected by October-November 2026.
capital_marketscorporate_finance