SBI Turns 70, Soars Big!
Your daily dose of business news
🗞️ Remittances at Record $135B
India’s remittance inflows hit an all-time high of $135.46 billion, more than doubling in eight years — showing strong confidence from the global Indian diaspora.
💬 Expert Take:
“Such robust remittances act as a cushion for rural spending and help stabilise India’s current account,”
— Rekha Menon, Chief Economist, India Economic Forum
🗞️ IDFC First Bank Rally Continues
IDFC First Bank shares jumped 5%, extending their winning streak for a third day amid optimism around retail loan growth.
💬 Expert Take:
“Mid-tier banks with retail-focused lending are seeing strong traction as borrowing costs ease,”
— Rahul Agarwal, Banking Analyst, Fintap Research
🗞️ SBI Turns 70, Soars 3,400%
State Bank of India celebrated its 70th anniversary — the bluechip giant has delivered 3,400% returns over 25 years, cementing its legacy as India’s banking backbone.
🗞️ Shadowfax Files for ₹2,500 Cr IPO
Shadowfax Technologies filed a confidential DRHP with SEBI to raise up to ₹2,500 crore, riding the last-mile delivery boom.
🗞️ Saraswat Co-op Bank Merger Plan
Saraswat Co-op Bank announced a merger with New India Co-op Bank, strengthening its reach in urban cooperative banking.
🗞️ RBI Flags Rising Per Capita Debt
India’s per capita debt for individuals has jumped significantly over two years, driven by unsecured loans and retail borrowing.
🗞️ PPF, NSC Rates Unchanged
PPF and NSC interest rates remain steady despite the RBI’s rate cut — bringing relief to conservative savers.
🗞️ Jio BlackRock Overnight Fund Opens
Jio BlackRock Overnight Fund is now open for subscription — catering to investors looking for low-risk, overnight parking of idle funds.
📊 Market Updates
📈 Sensex: 83,697.29 ▲ +90.83 (+0.11%)
📈 Nifty 50: 25,541.80 ▲ +24.75 (+0.10%)
📉 Nikkei 225: 39,986.33 ▼ −501.06 (−1.24%)
📈 SSE Composite: 3,457.75 ▲ +13.32 (+0.39%)