Foreign portfolio investors continued their net selling of Indian debt through the fully accessible route in July, marking the fourth consecutive month of outflows. Net sales reached ₹455 crore amidst rupee pressure and uncertainty surrounding policy decisions. Hopes for further rate cuts diminished after the RBI emphasized long-term inflation and growth considerations.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.