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Axis Bank is negotiating to acquire between 3,500 and 4,000 ATMs from AGS Transact Technologies due to deteriorating service quality. The bank plans to audit the ATMs before finalizing the deal and transfer the machines to another service provider amidst AGS Transact s financial troubles.

M Nagaraju, Secretary of the Department of Financial Services, emphasizes leveraging technology and AI to reduce insurance premiums to achieve universal coverage by 2047. Currently, India s insurance penetration is at 3.7%, below the global average. Actuaries are encouraged to utilize advanced analytical tools to create more affordable and effective insurance products, enhancing transparency and security in the sector.

The NSE Nifty surged 325.55 points, or 1.45%, to close at 22,834.30. The BSE Sensex rose 1131.31 points, or 1.53%, to end at 75,301.26. Both indices have risen about 2% in the last two days.

The dent in its books was caused by a September 2023 RBI communique spelling out how banks should value derivatives. It said all derivatives must be marked to market (MTM), which requires valuing assets and liabilities according to prevailing market price.

IndusInd International Holdings (IIHL) on Tuesday said it will list the insurance units of Reliance Capital in two to three years, after it completed the transaction to buy the financial services firm.

Life insurance behemoth LIC is confident of buying a stake in a health insurer in the next two weeks, its chief executive Siddhartha Mohanty said on Tuesday.

Capital markets regulator Sebi on Tuesday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on the BSE.

IndusInd Bank promoters reaffirm their commitment to the bank, viewing its depressed stock value as a strategic investment opportunity. Despite a 50% drop in six months, no fresh capital infusion is required. Hinduja Group holds a 16.29% stake, with 50.8% pledged.

Foreign Institutional Investors (FIIs) bought Indian equities worth ₹694.57 crore on Tuesday, their first net purchase since February 19. Along with Domestic Institutional Investors (DIIs) buying ₹2,534.75 crore, this institutional inflow boosted Nifty and Sensex, which closed with significant gains.

Five NSE large-cap stocks have a significantly higher P/E ratio than their industry average, indicating premium valuations. While this reflects investor confidence, it may also suggest potential overvaluation compared to industry peers.