RBI summons Yes Bank executives over forex card breach
The Reserve Bank of India has called in senior Yes Bank executives after a major security incident involving the Yes Bank–BookMyForex multi-currency forex card. According to reports, card numbers and CVV details of numerous customers may have been exposed. The RBI has demanded a full account of how the breach occurred and what safeguards failed.
IT bounce breaks 5-day losing run, but analysts warn relief may be short-lived
Indian IT stocks saw a brief rebound on Wednesday, ending a losing streak. However, analysts caution this relief might be temporary. Most derivative bets remain bearish after the IT index’s substantial drop. The sector experienced pressure throughout February, with new AI tools intensifying concerns about future revenue. Short covering fueled the bounce, but underlying weakness […]
IIFL Finance to raise up to $750 million via ECBs, dollar bonds
Fairfax-backed IIFL Finance is planning to raise $500-750 million in external commercial borrowings and dollar bonds this March. This move aims to diversify its funding sources and support business growth, with discussions underway with existing investors and banks from Singapore and Taiwan. The fundraising will utilize dollar-denominated loans and foreign currency social bonds.
Credit card spends moderate in Jan from festival highs in Dec
Credit card spending in India moderated in January to Rs 1.99 lakh crore, down from December’s festival-led high but up over 8% year-on-year. This indicates a normalization of growth after a festive surge, with active card numbers rising to 116.6 million, though new additions slowed due to tighter underwriting and regulatory caution.
Metal stocks rise 7%, analysts see potential upside of up to 25%
Metal stocks surged over 7% on Wednesday, driven by firm base metal prices and reduced uncertainty over US tariffs. Analysts suggest buying on dips, anticipating up to 25% upside. Companies like Lloyds Metals, National Aluminium, and Vedanta saw significant gains as investors shifted funds from IT to the buoyant metal sector.
JPMorgan CEO Jamie Dimon warns AI and ‘dumb things’ can trigger a 2008-like crisis
Jamie Dimon warned markets resemble pre-2008 conditions, citing risky behaviour, elevated asset prices and AI-driven disruption. He said people are doing “dumb things” to make money, warned of cyclical downturns ahead, and cautioned that enthusiasm around artificial intelligence could destabilise software and technology sectors globally over time.
A six-month slump for a former multibagger: What is going on with Eternal?
Eternal, once a star stock, faces a slump. Competition in food delivery and quick commerce intensifies. Valuations were high, and a leadership change added uncertainty. While core businesses improve, investors seek predictable earnings. The company’s strong cash position offers long-term support. Analysts suggest cautious accumulation.
Waaree, Premier Energies plunge up to 10% after US slaps 126% initial solar import duty. What are experts saying?
Indian solar manufacturers like Waaree Energies and Vikram Solar faced significant stock drops after the US imposed hefty preliminary duties of up to 126% on imports from India. Citing unfair subsidies, these tariffs could severely limit access to the crucial US market for Indian companies, impacting their export-oriented businesses and investment plans.
Top 5 mid cap mutual funds to invest in February 2026
ETMutualFunds has shortlisted the top midcap mutual funds based on mean rolling returns, consistency over the last three years, downside risk, outperformance and asset size. The threshold is Rs 50 crore.
Decoded: The viral doomsday AI memo that roiled Wall Street
A viral 7,000-word Substack essay by Citrini Research founder James van Geelen sparked a sharp selloff on Wall Street by outlining a hypothetical 2028 “Global Intelligence Crisis.” The scenario imagines AI wiping out white-collar jobs, crushing software revenues, straining credit and housing markets, and triggering a deflationary economic cascade.