BigBasket is embracing a pivotal leadership transition as Amit Nanda steps in as CEO, with a laser focus on enhancing its quick delivery approach and curbing operational losses. Current CEO Hari Menon reflects on the company's slower adoption of ultra-fast delivery options.

The Reserve Bank of India injected Rs 72,300 crore into the banking system. This was done through two Variable Rate Repo auctions. The move followed a drop in surplus liquidity due to advance tax payments. Experts expect more such actions to manage liquidity. Overnight rates had risen above the RBI's repo rate.

The final guidelines, which will come into force from January 1, 2027, ban incentive arrangements that encourage aggressive sales practices and require banks to take responsibility for all financial products sold through their branches, digital channels, agents and outsourced partners.

India's competition watchdog has given the green light for Kedaara Capital to invest Rs 750 crore in Axis Finance. This marks a significant primary capital raise for Axis Finance, its largest to date. It is also the first time the non-banking financial company has secured funding from an external investor.

Bengaluru (Karnataka) [India], Alethea Advisors, a fast-growing independent strategic transaction and corporate advisory firm, has appointed Gyanendra N Pati (Gyan) as Chief Growth and Marketing Officer (CGMO) and Gaurav Jain as Director, Head of M&A and Global Delivery, as the firm builds out its M&A and cross-border advisory capabilities.

Capitalmind Flexi Cap Fund made significant portfolio adjustments in May. The fund welcomed Nestle India and eleven new stocks. It also divested holdings in State Bank of India and fourteen other companies. Exposure was increased in sixteen stocks, including NMDC and Indus Towers. The fund's portfolio now holds thirty-eight stocks across sixteen sectors. Healthcare and non-ferrous metals are key allocations.

Ahmedabad (Gujarat) [India], Ignosis AI today announced the launch of its Multi-Agentic, Hyperpersonalised AI Collections Platform for BFSI, a next-generation debt recovery solution powered by Financial Data Intelligence and Account Aggregator Intelligence.

The Government of India has approved the appointment of Hitesh Rameshchandra Joshi as Chairman-cum-Managing Director (CMD) of General Insurance Corporation of India (GIC Re). Joshi was serving as Executive Director and holding additional charge of CMD.

The Indian rupee has reached a six-week peak. This strength comes as Brent crude oil prices fall below $80 a barrel. Recent actions by the Reserve Bank of India are also supporting the currency. Investors are showing renewed interest in Indian bonds. The rupee is expected to continue its upward trend.

Merchant banker Unistone Capital and its director Jitendra Sanghavi have settled a case with Sebi. They paid over Rs 67 lakh to resolve allegations of insider trading in Cupid Ltd shares. Sebi initiated proceedings for alleged violations of trading rules. The settlement was reached without admitting or denying guilt. This brings closure to the adjudication process.

Wipro has launched a new AI hub in Bengaluru. This centre focuses on Anthropic's Claude models. It aims to help businesses adopt AI more widely. Wipro will train thousands of employees. This move comes as AI impacts traditional IT services. Rival TCS also recently partnered with Anthropic for AI scaling.

Adani Green Energy is planning to secure a significant offshore loan of up to $1 billion. This marks the company's first international borrowing after resolving legal issues in the United States. The funds will support capital expenditure and other company needs. This move could also invigorate India's offshore loan market, which has seen slower activity recently.

Indian stock markets are trading flat today after a strong three-day rally. Lower crude oil prices and hopes for a US-Iran peace deal fueled the earlier gains. Investors are watching crude oil prices and monsoon forecasts closely. The rupee's strengthening is also a positive sign for the market.

HDFC Bank's board meets June 18 to review legal findings on Atanu Chakraborty's concerns. Preliminary reports suggest no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval. Mistry's term ends June 18. The bank awaits the central bank's response on the extension request.

Consumer goods giant Unilever is teaming up with Accenture. They will use AI-powered digital twins in factories worldwide. This initiative aims to boost efficiency and quality.

India's digital fraud rate in 2025 reached 7.1%, almost double the global average. This indicates growing online fraud risks as digital payments expand. Fraudsters are increasingly targeting existing accounts with compromised credentials. Sectors like logistics, telecommunications, and insurance face high fraud exposure. This trend prompts regulatory action to strengthen digital security measures.

The services sector also contributed to the surplus. However, higher imports, particularly crude oil, led to a merchandise deficit. Foreign portfolio investors withdrew funds amid global conflicts, impacting the capital account.

The regulator also introduced an 'Inoperative Fund' framework for wound-up funds with residual obligations.

India's states continued to face mounting fiscal pressures in 2024-25, with all 28 states reporting fiscal deficits and their combined liabilities rising to Rs 90.51 lakh crore as of March 31, 2025, according to the Comptroller and Auditor General's (CAG) report State Finances 2024-25 released on Monday.

The Centre's disinvestment receipts are set to cross Rs 15,000 crore in the April-June quarter of the financial year 2026-27, driven by the success of offer for sale transactions in the shares of public sector enterprises.