Page 58 - Finance News
IFC announces equity investment of $20 million in Transvolt Mobility
IFC makes its first-ever equity investment in an EV platform, investing $20 million in Transvolt Mobility to help scale its electric fleet and create 8,200 jobs over the next five years
 "IFC announces equity investment of $20 million in Transvolt Mobility")
₹25K cr SBI QIP draws bids worth ₹1 trn; LIC, domestic MFs lead charge
LIC bids over Rs 5,000 crore in SBI's Rs 25,000 crore QIP, joined by major MFs and FPIs; fundraise to boost capital adequacy by 60 bps with 3.47% equity dilution
 "₹25K cr SBI QIP draws bids worth ₹1 trn; LIC, domestic MFs lead charge")
Rupee drops to three-week low as dollar strengthens, FPIs limit fall
The rupee fell past 86 per dollar to close at a three-week low amid dollar strength, but FPI inflows and exporter sales helped limit the extent of depreciation
 "Rupee drops to three-week low as dollar strengthens, FPIs limit fall")
SBI eyes ₹25,000 crore via record QIP, sets floor at 2.5% discount
The bank's board approved another ₹20,000 crore fund raise by issuing bonds
 "SBI eyes ₹25,000 crore via record QIP, sets floor at 2.5% discount")
Corporate bonds gain favour as government securities' yields remain steady
Yield spreads widen as investors move to short-tenure corporate bonds; AA-rated issuers tap market amid low G-Sec supply and abundant banking system liquidity
 "Corporate bonds gain favour as government securities' yields remain steady")
NPCI adds 13 Indian banks to India-Singapore UPI-PayNow platform
NPCI International has added 13 more Indian banks to the India-Singapore UPI-PayNow platform, expanding the remittance network to 19 banks and enabling faster, secure cross-border fund transfers
 "NPCI adds 13 Indian banks to India-Singapore UPI-PayNow platform")
Bank NIMs may shrink by 30 bps in FY26 on loan repricing: Fitch Ratings
According to the agency's estimates, the banking system level NIMs of Indian banks stood at 3 per cent in FY25
 "Bank NIMs may shrink by 30 bps in FY26 on loan repricing: Fitch Ratings")
Cash makes a comeback in Bengaluru as vendors ditch UPI amid GST fears
Small vendors across Bengaluru are removing UPI options, citing GST notices, tax demands, and fears of harassment or eviction as reasons for switching back to cash-only transactions
 "Cash makes a comeback in Bengaluru as vendors ditch UPI amid GST fears")
Embassy Reit plans to tap debt market with ₹2,000 crore bond sale
The real estate investment trust will look to close the funding round before the end of this month
 "Embassy Reit plans to tap debt market with ₹2,000 crore bond sale")
RBI's liquidity steps to aid 100 bps rate cut transmission in 2025: Fitch
Credit rating agency Fitch Ratings says ₹5.6 trillion liquidity infusions and cash reserve ratio cut will support loan growth, though banks may see short-term pressure on margins
 "RBI's liquidity steps to aid 100 bps rate cut transmission in 2025: Fitch")
JPMorgan profit beats analysts expectation; raises interest income forecast
The bank now expects about $95.5 billion of NII, or the difference between what it earns on loans and pays out on deposits, compared with an earlier estimate of nearly $94.5 billion
 "JPMorgan profit beats analysts expectation; raises interest income forecast")
RBI monetary policy: August rate cut hopes get a fillip, says BS poll
Economists pencil in 25 bps reduction in the repo rate by December
 "RBI monetary policy: August rate cut hopes get a fillip, says BS poll")
SBI cuts short-term retail deposit rates by 15 bps, effective July 15
The rate cut, the third such instance in the current financial year (FY26), comes in the backdrop of improved liquidity conditions and the policy rate cuts by the Reserve Bank of India (RBI)
 "SBI cuts short-term retail deposit rates by 15 bps, effective July 15")
RBI's 3-day VRRR sees weak demand amid GST outflows, reporting week
Market participants said that banks were reluctant to park higher amounts at the auction due to the fortnightly reporting period at the end of the current week
 "RBI's 3-day VRRR sees weak demand amid GST outflows, reporting week")
RBI Governor hints at allowing foreign banks to own 26% in Indian banks
Transmission is happening well: RBI Governor
 "RBI Governor hints at allowing foreign banks to own 26% in Indian banks")
Asset quality stress in MFI sector expected to persist in H1FY26: Icra
ICRA's July 2025 analysis on the Non-Banking Financial Company - Microfinance Institution (NBFC-MFI) said that the AUM of the sector declined 12 per cent in FY2025
 "Asset quality stress in MFI sector expected to persist in H1FY26: Icra")
Allcargo Terminals to raise ₹38.28 cr through convertible warrants issuance
"The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said
 "Allcargo Terminals to raise ₹38.28 cr through convertible warrants issuance")
AI video platform Trupeer raises ₹25.8 crore from RTP Global, others
The funding round also saw participation from Salesforce Ventures and a consortium of over 20 CIO and CTO angel investors from Fortune 500 companies, Trupeer said
 "AI video platform Trupeer raises ₹25.8 crore from RTP Global, others")
Citibank India expects a strong year for ECM business as IPOs pick up
Citibank has expanded its investment banking team in India from 28 to 38 over the past year and plans to continue adding bankers to meet the growing opportunity, country head said
 "Citibank India expects a strong year for ECM business as IPOs pick up")
PhonePe ropes in Meta's Shivnath Thukral as V-P for public policy
PhonePe has appointed ex-Meta India policy head Shivnath Thukral as vice-president for public policy, as the fintech firm gears up for its IPO
 "PhonePe ropes in Meta's Shivnath Thukral as V-P for public policy")