banks in India

India's central bank has intervened heavily in foreign exchange markets, draining nearly $20 billion from the banking system's surplus liquidity, according to bankers. The dollar-selling operation, aimed at supporting the rupee, absorbs rupee funds and tightens cash conditions, which could raise short-term funding costs for banks and firms.

Iran has declared it would fight a doomsday or apocalyptic war, according to commentary circulating on Hindi-language news channels. The statement is being discussed alongside wider Middle East tensions involving Yemen, Saudi Arabia, the United States, Gaza and the West Bank. Viewers are following the coverage for updates on how Iran's rhetoric could escalate conflict across the region.

Bank employees' unions in India are reported to be going on strike from September 28 to 30, raising concerns about disruptions to everyday banking. Coverage is explaining what customers can expect with UPI payments, ATM withdrawals, cheque clearing and branch services during the three-day walkout, and advising people to plan cash and payments in advance.

Bank employees in India are preparing for a three-day strike, prompting widespread concern about disruptions to banking services. People are asking whether salaries, UPI payments and ATM withdrawals will be affected during the walkout. Commentators like Ankit Avasthi are breaking down which services could halt and how customers can prepare, as the strike highlights ongoing tensions between bank unions and management over pay and working conditions.

The Reserve Bank of India has completed net sales of government debt totalling 1 trillion rupees, the first time it has reached that level in ten years. The move reflects the central bank's efforts to manage liquidity in the banking system, and is drawing attention from bond market participants watching its impact on yields.

Tata Trusts has put forward a plan to restructure Tata Sons, the holding company of India's biggest conglomerate, aimed at preventing a forced stock market listing. The move comes after pressure from the Reserve Bank of India, which has been pushing Tata Sons toward an IPO following its classification in a regulated financial category.

India's central bank has recommended increasing the limits on advances it provides to state governments. The move would raise the short-term funding available to states for managing their cash flows. Details on the size of the increase and the reasoning have not yet been made clear, and officials have not commented further on the proposal's timing.

Apple Pay is reportedly set to go live in India with Axis Bank as its launch banking partner, according to sources. The move would bring Apple's contactless payments service to one of the world's fastest-growing digital payments markets, where UPI dominates and card-based mobile wallets have struggled to gain traction.

The Indian rupee closed nearly unchanged against the dollar, with currency traders focused on fluctuations in global oil prices and capital flow limits set by the Reserve Bank of India, Reuters reported. Oil price swings remain a key driver for the currency, since India is a major crude importer, and moves in RBI-imposed caps are shaping trading sentiment.