Indices decline 1% amid rising crude prices and geopolitical tensions
Indian equity markets experienced a 1% decline on Thursday, triggered by escalating tensions in West Asia and the subsequent surge in crude oil prices. Geopolitical uncertainty, coupled with a plane crash, dampened investor sentiment, leading to significant selling pressure from foreign portfolio investors. While domestic institutions provided some support, broader market indices reflected the prevailing […]
RBI eases KYC norms, allows banking correspondents to update details
The Reserve Bank of India has instructed banks and NBFCs to permit transactions for low-risk customers with pending KYC until June 30, 2026, provided reminders are sent. Self-declaration via banking correspondents is now allowed for unchanged KYC or address updates. Banks can update KYC for inactive accounts and unclaimed deposits across branches, including through video […]
Oswal Pumps plans Rs 890 crore IPO to repay debt, expand capital expenditure
Oswal Pumps is launching an IPO to raise funds for debt repayment and capital expenditure, while promoter stake will decrease. The company’s revenue has grown, largely driven by government contracts under the PM-Kusum Scheme. However, increased collection time and working capital needs, along with reliance on a single scheme, suggest investors should monitor performance post-listing […]