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Axis CEO backs higher NRI deposits
Financial Express Mumbai
|June 30, 2026
LENDERS WILL USE foreign-currency deposits raised from the Indian diaspora in the next few months to replace expensive funds on their books before channeling money to companies, according to the chief executive officer of Axis Bank, the country’s third-biggest private bank by assets.
“The first thing banks will do is reduce or pause growth in other very expensive deposits for some time,” Amitabh Chaudhry told Bloomberg News in an interview. Following that, the quickest areas for deployment would be across infrastructure projects, data-center investments, commercial real estate and large capital-expenditure plans, he said.
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Financial Express Mumbai
Within striking distance of 8% growth, says Das
INDIA COULD BE within \"striking distance\" of achieving 8% annual economic growth if the global geopolitical situation remains stable, Shaktikanta Das, principal secretary to the prime minister, has said, adding that the government has more economic reforms in the pipeline.
1 mins
June 30, 2026
Financial Express Mumbai
The corporate jellyfish
EVERY FEW YEARS someone rediscovers the Indian corporate chamcha (sycophant).
2 mins
June 30, 2026
Financial Express Mumbai
Amazon fuels $15-bn sell-off in Eternal, Swiggy
E-comm giant's quick commerce push with Flipkart has shaken investor confidence in Blinkit & Instamart
3 mins
June 30, 2026
Financial Express Mumbai
BAT axes 9,000 jobs as smoke-free pivot accelerates
BRITISH AMERICAN TOBACCO is reducing its 47,000-strong global workforce by about one-fifth as part of its sweeping plan to bring down costs and simplify operations.
2 mins
June 30, 2026
Financial Express Mumbai
India rating safe, says Moody's
INDIA CAN WITHSTAND a potentially wider-than-forecast fiscal deficit this year without jeopardising its investment-grade rating, according to Moody's Ratings, as higher energy prices are expected to pose only temporary Budget pressures.
2 mins
June 30, 2026
Financial Express Mumbai
For a maritime stake
Setting up many domestic shipyards is urgent; India needs to attract potential Asian investors.
2 mins
June 30, 2026
Financial Express Mumbai
Jefferies sees clearer path for Jagdishan's third term
GLOBAL BROKERAGE JEFFERIES believes the findings of two independent law firms have significantly improved the prospects of HDFC Bank MD & CEO Sashidhar Jagdishan securing a third term, saying the review clears a key overhang that had weighed on investor sentiment.
1 min
June 30, 2026
Financial Express Mumbai
CCI closes its 2012 pharma case for lack of evidence
THE COMPETITION COMMISSION of India (CCI) has closed a 14-year-old antitrust case against several drug companies, leading pharma associations and All India Organisation of Chemists and Druggists (AIOCD), stating that there was insufficient evidence to prove anti-competitive conduct under the Competition Act.
1 mins
June 30, 2026
Financial Express Mumbai
IBC revamp may bolster policyholder protection
Insurers may have sector-specific framework for insolvency
3 mins
June 30, 2026
Financial Express Mumbai
GST@9 - REVENUE-GDP SHARE IMPROVES
THE SWEEPING CHANGES made as part of last year's \"GST 2.0\" reforms-which transitioned the tax structure into two main slabs (5% and 18%) and cut tax rates on 375 itemsslightly slowed the growth in tax collections, but as a percentage of GDP, the receipts are still holding up.
1 min
June 30, 2026
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