RBI Spends $6B to Defend Rupee
Your daily dose of business news
🗞️ ₹3.69 Lakh Crore Cess Transfer Shortfall: CAG
The CAG flagged a short-transfer of ₹3.69 lakh crore in cess collections over several decades, affecting allocations to key funds.
💬 Expert Take: “Such gaps in fund transfers can undermine trust in fiscal management and delay critical public projects.”
🗞️ RBI Spent $6B to Support Rupee
The Reserve Bank of India is estimated to have spent $6 billion offshore in two weeks to stabilise the currency amid global market volatility.
💬 Expert Take: “Active currency intervention signals RBI’s determination to contain volatility, but sustained outflows could test reserves.”
🗞️ RBI Issues 7 Sutras for AI in Finance
The RBI has outlined seven guiding principles for AI adoption in the financial sector, focusing on safety, fairness, and accountability.
🗞️ Infosys Buys 75% Stake in Telstra Unit
Infosys will acquire a 75% stake in a Telstra subsidiary for $153 million, strengthening its telecom and digital services portfolio.
🗞️ Cabinet Decisions Announced
Union Minister Ashwini Vaishnaw briefed the media on key cabinet decisions, including infrastructure projects and policy reforms aimed at boosting economic growth.
🗞️ ICICI Bank Eases Minimum Balance Rule
ICICI Bank has removed the ₹50,000 minimum average balance requirement for urban locations, revising its MAB norms to encourage broader customer inclusion.
🗞️ Aditya Birla’s TMRW Raises ₹437 Cr
Aditya Birla’s TMRW has raised ₹437 crore from a ServiceNow subsidiary to enhance its tech platform and scale operations.
🗞️ Perplexity’s $34.5 Bn Chrome Buy Offer Sparks Trolls
AI startup Perplexity offered to acquire Google Chrome for $34.5 billion, drawing widespread mockery online over the audacious bid.
📊 Market Update – 13 Aug 2025
📈 Sensex: 80,539.91 ▲ +304.32 (+0.38%)
📈 Nifty 50: 24,619.35 ▲ +131.95 (+0.54%)
💵 USD/INR: ₹87.71 (unchanged)
🪙 Gold (24K): ₹10,006/gm (−0.26%)
🛢️ Brent Crude: ~$84.32/bbl (steady)