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In February, the RBI had ordered the credit card company to stop using an unauthorised route to make some commercial payments, per a Reuters report. The central bank has aimed to tighten scrutiny of the processes followed by financial technology, or fintech, companies.

The Reserve Bank of India (RBI) governor Shaktikanta Das expressed his concerns about structural changes taking place in the financial sector as a faster pace of credit growth than deposit growth potentially exposes the banking system to structural liquidity issues, while speaking at a media event last week.

Mankind Pharma announced a ₹13,630 crore acquisition of Bharat Serums and Vaccines (BSV) to be funded through internal accruals and a mix of debt and equity. This strategic move will make them leaders in the gynaecology-fertility segment. The acquisition aligns with their goal to expand in high-potential areas and is expected to boost earnings from the second year.

The net interest income - the difference between interest earned and paid - rose 11.1% to ₹5,408 crore. Net interest margin (NIM) for the June quarter came in at 4.25%.

The NSE Nifty rose 428.75 points, or 1.76%, to close at a record of 24,834.85. The index hit a lifetime high of 24,861.15 during the day. The BSE Sensex rose 1,293 points, or 1.62%, to end at 81,333 after hitting a high of 81,427.18. The index fell 10 points short of the all-time closing level of 81,343.

"Banks led by State Bank of India had come in to support the reconstruction scheme. As per regulations, banks cannot remain invested in other banks," managing director and chief executive Prashant Kumar told ET in an exclusive interaction.

Equitas Small Finance Bank on Friday reported a 87% year-on-year drop in net profit at Rs 26 crore, on account of a five-fold rise in provisions and contingencies.

Sebi was examining if the fund house had adequately recorded reasons for its investment decisions, among other things. Also, the market regulator looked into the reasons for the sale of three stocks viz. Hindustan Zinc, Sadbhav Engineering and Vodafone Idea, which resulted in losses worth Rs 1.61 crore, Rs 14.97 crore and Rs 25.43 crore, respectively. The total loss was recorded at Rs 42 crore.

Cholamandalam Investment and Finance Company has reported a 29.7 per cent growth in its profit after tax for the April-June 2024 quarter at Rs 942 crore. The company, which is the financial services arm of diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 726 crore in the corresponding quarter of last year.

The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines