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The National Company Law Tribunal (NCLT) has sanctioned the settlement plan for Supreme Infrastructure India s ₹2,200 crore financial liabilities. The plan includes structured repayments through asset monetisation and contributions from promoters and new investors, addressing the outstanding debt with a total payout of ₹464 crore to financial creditors.

Gupta succeeds Michael Debabrata Patra whose five-year term ended in January. In the interim, deputy governor M Rajeshwar Rao has been overseeing monetary policy. The choice of Gupta - an expert in developmental economics and international trade - reflects the government s focus on economic policy amid global uncertainty driven by US tariffs and trade war.

The Reserve Bank of India s net short positions in the forward book surged to a record high of $78.6 billion in February. Most of the positions fall in the three-month to one-year category. This situation could potentially exert additional pressure on rupee liquidity as these positions mature and are rolled over.

Deposit growth for South Indian Bank, Central Bank of India, and Punjab & Sind Bank ranged from 5.5% to 8.7% year-on-year in the March quarter, while credit growth was quicker, at around 10% to 16%. These banks also saw a reduction in their CASA ratio.

Reinsurance treaty renewals on April 1 saw largely stable or softer rates due to competition among reinsurers. Despite continuing catastrophe risks, regulatory scrutiny, and new Irdai regulations, primary insurers secured significant discounts and enhanced treaty capacities, while cross-border reinsurers face operational challenges.

Banks and NBFCs like HDFC Bank, Yes Bank, and Bajaj Finance have started cutting deposit rates, signaling a downward trend in interest rates. The Reserve Bank of India is expected to announce another repo rate cut soon, which will further enhance liquidity and likely lower lending rates.

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Waaree shares fell 4.2% to ₹2,279.8 and Premier declined 2.2% to ₹889.8 on Wednesday. Bernstein said Waaree and Premier face the risk of deep-pocketed bigger groups entering the space.

Lower US yields and expectations of a rate cut by RBI in its monetary policy next week have also weighed on yields, treasury heads at banks said.