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TCS will hold a board meeting to take a call on this and will also announce its July-September quarter (Q2FY25) earnings on this day.

In a separate news, the ministry of railways has appointed Rabindra Nath Mishra with the additional charge of the post of Director (Finance), IRCTC, in addition to his own, with effect from October 1.

The agreement was signed during the ongoing Rising Rajasthan Investor Meet in New Delhi and the proposed investment plan under it will be Rs 1.2 lakh crore.

Deposit growth is currently outpacing credit expansion. Although a policy rate cut is expected in the second half of the fiscal year, bank deposit rates are likely to stay high for now. This is due to the slow pace of deposit mobilisation and the need for capital to fund private capital expenditure, which is on the rise.

The RBI warns of supervisory action if banks do not rectify irregularities in gold loan practices within three months. The gold loan sector has seen rapid growth, necessitating enhanced controls and transparency, particularly concerning third-party involvement and potential misuse in valuation and loan disbursement.

Kotak Mahindra Bank, led by CEO Ashok Vaswani, aims to become the third-largest private lender in India by 2030. The bank is open to acquisitions and plans to use technology and operations scaling to achieve its goal. Vaswani is the first non-promoter CEO, following the tenure of founder Uday Kotak.

Buoyed by this demand, the Centre has comfortably elongated the maturity of its borrowings - thus helping it better manage debt repayment obligations. Moreover, the buying interest has brought about a fall in long-term sovereign bond yields, leading to softer borrowing costs across the economy.

Treasuries extended declines, pushing short-term yields higher, after Chair Jerome Powell’s cautious stance in saying the Federal Reserve will lower interest rates “over time,” while re-emphasizing that the overall economy remains on solid footing. Emerging-market stocks ended the day lower as the Powell comments weighed on sentiment.

Mankind Pharma announced that it would raise up to Rs 10,000 crore through issuance of non-convertible debentures (NCD) and commercial papers.

Tata Steel has stopped steel production at Port Talbot in the UK, closing the blast furnace and related plants. The company plans to invest £1.25 billion in an electric arc furnace, with government support. This transition will resume production by 2027-2028, ensuring a greener future and sustaining over 5,000 jobs while cutting 2,800 positions.