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Axis Bank has received approval to infuse Rs 1,612 crore in Max Life Insurance by subscribing to shares on preferential basis.

Brent crude fell 20 cents, or 0.2%, to $87.35 a barrel by 0006 GMT, after settling at its highest since Jan. 27 in the previous session.

"The markets today are just kind of waffling around. And the reason for that is tomorrow is going to be the CPI report for July being released", said Jason Krupa, vice president of asset management at Lenox Advisors.

Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday. U.S. gold futures were down 0.1% at$1,948.90.

The U.S. currency edged to a one-month high versus the yen as markets took the view that the Bank of Japan will be slow to exit stimulus, even with traders mostly betting the Fed is done with rate hikes.

India1 Payments, in which ICICI Ventures has about 49% stake, is promoted by Australia’s Banktech group. The company plans to leverage its customer base using its white-label ATM platform by being an account aggregator and connecting those interested in small-ticket loans with the potential lender. This could earn the company a fee-based income for the concluded transactions.

For the first quarter, the State Bank of India reported a treasury income of ₹3,850 crore, the highest in the past 12 quarters. Likewise for Axis Bank, the whole business income was soft, but a treasury gain of ₹519 crore aided the return on assets (ROA) ratio.

Against the 182.2 million units on offer, representing a 7% stake, the OFS received bids for 150.2 million units. At the floor price of ₹155 per unit, Brookfield sold units worth ₹2,331 crore, roughly a 6% stake.

"The matter largely relates to an industry-wide issue on applicability of GST on salvage adjusted and ineligible input tax credit, on motor claims settled. The company has deposited Rs 104,13,18,970 under protest, without accepting any liability in this regard," it said.

​​Surplus liquidity, as measured by the quantum of extra funds that banks park at the Reserve Bank of India’s (RBI) absorption window, averaged `2.48 lakh crore a day in August, the highest since June 2022.