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BofA pays ₹58.5 lakh to close SEBI case

Bank of America’s (BofA) securities arm in India has settled an insider trading-related case with the Securities and Exchange Board of India (SEBI) by paying a settlement amount of ₹58.5 lakh.

The case was linked to alleged lapses in complying with insider trading regulations, particularly the failure to properly maintain a Structured Digital Database (SDD), which is required to track access to unpublished price-sensitive information.

SEBI had issued a show-cause notice to the firm last year, alleging violations of insider trading and merchant banking rules. The regulator said the database is a key compliance tool designed to prevent misuse of confidential market information.

During the proceedings, the company filed a settlement application without admitting or denying the allegations. The matter was reviewed by SEBI’s internal committees and later approved for settlement.

The regulator confirmed that after payment of the ₹58.5 lakh fee, the case has been disposed of.

The settlement brings closure to the proceedings, though SEBI retains the right to take action in future if any misrepresentation or non-compliance is found.

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Rupee crashes to 95.50 mark against dollar

The Indian rupee fell to a record low of 95.55 against the US dollar on Tuesday as rising crude oil prices and global tensions continued to pressure financial markets.

The sharp fall came amid uncertainty over the fragile US-Iran ceasefire and fears of supply disruptions in global oil markets. Since India imports a major portion of its crude oil needs, higher oil prices usually increase pressure on the rupee and the overall economy.

Currency traders said strong demand for the US dollar and continued foreign investor selling in Indian markets also weakened the rupee. Foreign institutional investors have been pulling money out of equities due to global risk concerns, adding further pressure on the domestic currency.

The weakening rupee has raised concerns about higher import costs, especially for fuel and essential goods. Analysts warned that if crude oil prices continue to rise, inflationary pressure could increase in the coming months.

The Reserve Bank of India is believed to have intervened in the forex market to prevent a sharper fall in the currency. However, market experts expect the rupee to remain volatile as long as global tensions and oil prices stay elevated.

The falling rupee also affected stock markets, with benchmark indices trading lower during the session. Investors remained cautious amid fears of rising inflation and slowing global growth.

Also Read:  PM Modi calls for work-from-home, online classes

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PM Modi calls for work-from-home, online classes

Prime Minister Narendra Modi has called on companies, schools and colleges to adopt work-from-home and online learning models to help reduce fuel consumption as rising global crude oil prices increase pressure on the Indian economy.

The appeal comes amid growing concerns over the impact of tensions in West Asia on global energy markets. With crude oil prices remaining elevated, the government is focusing on fuel conservation measures to reduce import dependence and contain inflationary risks.

Modi urged businesses to encourage remote work, virtual meetings and hybrid office models wherever possible to cut daily commuting and fuel usage. Educational institutions were also advised to consider online classes and digital learning systems to reduce transportation demand.

The Prime Minister said fuel-saving efforts are necessary at a time when higher oil prices could affect transportation costs, inflation and overall economic stability. India imports a significant portion of its crude oil requirements, making the economy vulnerable to fluctuations in global energy prices.

The government clarified that there is no fuel shortage in the country and said the advisory is a precautionary step aimed at reducing unnecessary fuel consumption and easing pressure on foreign exchange reserves.

Experts believe widespread adoption of remote work could help businesses lower operational expenses linked to employee transportation and office infrastructure. However, sectors dependent on physical operations and manufacturing may face challenges in implementing such measures fully.

PM Modi also encouraged citizens to use public transport, metro services and carpooling to reduce petrol and diesel consumption. Analysts say the government’s focus on fuel conservation reflects increasing concern over the broader economic impact of rising oil prices, including pressure on inflation, logistics and consumer spending.

Experts say the move could accelerate the return of hybrid work models seen during the Covid-19 pandemic. Several companies, especially in the IT and services sectors, are expected to evaluate flexible work policies if fuel prices remain high for an extended period.

Also Read: Gold slips to ₹1.52 lakh, silver falls to ₹2.74 lakh

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Gold slips to ₹1.52 lakh, silver falls to ₹2.74 lakh

Gold prices saw a marginal decline on Tuesday, with the price of gold falling ₹10 to ₹1,52,120 per 10 grams in the domestic market. Silver prices also slipped by ₹100 to ₹2,74,900 per kilogram as investors tracked global market trends and geopolitical developments.

Despite the small fall, gold continued to trade near all-time high levels across major Indian cities. In Delhi, 24-carat gold was priced around ₹1.53 lakh per 10 grams, while rates in Mumbai and Kolkata remained at similar levels. Prices of 22-carat gold also stayed elevated, reflecting steady demand for the precious metal.

Market experts said uncertainty in global markets and rising tensions in the Middle East continued to support safe-haven buying in gold. Investors are increasingly turning to bullion as concerns over inflation, crude oil prices and global economic slowdown remain strong.

Silver prices, meanwhile, witnessed mild profit booking after recent gains. Analysts said silver continues to remain sensitive to both industrial demand and global commodity price movements, leading to fluctuations in domestic rates.

Jewellers said demand in the retail market remained stable due to the ongoing wedding season, although many buyers have become cautious because of the sharp rise in prices over the past few weeks. Some customers are choosing lighter jewellery or delaying purchases in anticipation of a price correction.

In the international market, gold prices remained firm as investors awaited signals from major central banks on future interest rate decisions. A weaker dollar and uncertainty in global financial markets also supported bullion prices.

Traders believe gold and silver prices may continue to remain volatile in the coming days due to changing global conditions and fluctuations in crude oil prices. Analysts advised investors and buyers to closely monitor market movements before making fresh investments or large purchases.

Even with minor declines, precious metals continue to attract strong investor interest as a safe investment option during uncertain economic conditions.

Also Read: Sensex falls over 450 points, Nifty slips below 23,700

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NTPC eyes huge nuclear power project in Bihar

NTPC is planning a large nuclear power project in Bihar as India looks to expand its clean energy capacity and reduce dependence on fossil fuels.

The proposed project is expected to come up in Bihar’s Banka district and could generate up to 2.8 gigawatts (GW) of electricity once fully developed. The first phase is likely to include two nuclear reactors of 700 MW each, with room for future expansion.

Officials said NTPC’s nuclear subsidiary is currently carrying out a feasibility study to examine land availability, water supply and technical requirements for the project. The findings will later be submitted to the Department of Atomic Energy for further approvals.

The project is being viewed as an important step in NTPC’s efforts to diversify beyond coal-based power generation. While the company remains India’s largest thermal power producer, it has been increasing investments in renewable and nuclear energy as part of the country’s broader clean energy goals.

India aims to significantly increase its nuclear power capacity by 2047 to meet rising electricity demand while cutting carbon emissions. Nuclear energy is becoming increasingly important because it can provide stable power generation unlike solar and wind energy, which depend on weather conditions.

Officials said the Bihar government has shown support for the proposal, including assistance related to water allocation for the plant. Reliable water access is considered critical for nuclear power operations.

Apart from Bihar, NTPC is also exploring nuclear projects in several other states as it plans to build a stronger presence in the sector over the coming decades.

Energy analysts believe the project could bring major investment and infrastructure development to Bihar if approved. The plant is also expected to create employment opportunities during both construction and operational phases.

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Oil surges after Trump rejects Iran terms

Global crude oil prices jumped sharply on Monday after US President Donald Trump dismissed Iran’s latest ceasefire proposal, deepening concerns over a prolonged conflict in West Asia and possible disruptions to global oil supplies.

Brent crude crossed the $105-per-barrel mark, while US crude prices moved closer to $100 as traders reacted to rising geopolitical uncertainty. Market fears intensified over the continued disruption in the Strait of Hormuz, a critical shipping route through which a major portion of the world’s oil supply passes.

Iran’s response to the US-backed peace proposal included demands for sanctions relief, compensation for damages caused during the conflict, and broader guarantees regarding regional security. Trump reportedly rejected the terms, calling them unacceptable and indicating that negotiations remained far from a breakthrough.

The developments have reduced hopes of an immediate ceasefire and triggered fresh worries about stability in the Gulf region. Reports of continued drone attacks and military activity across parts of West Asia further added to market anxiety.

Energy markets responded quickly to the uncertainty. Analysts said fears of reduced oil movement through the Strait of Hormuz could tighten global supplies and push fuel prices even higher in the coming weeks. Countries heavily dependent on oil imports, including India, are expected to feel the pressure more sharply if prices continue rising.

The surge in crude prices has also renewed inflation concerns globally. Higher fuel costs could increase transportation and manufacturing expenses, potentially affecting consumer prices and slowing economic growth.

Financial markets across the world remained cautious following the developments. Investors moved towards safer assets such as gold and the US dollar, while equity markets witnessed volatility amid concerns over rising energy costs.

Also Read: Gold at ₹1.52 lakh, silver at ₹2.74 lakh

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Gold at ₹1.52 lakh, silver at ₹2.74 lakh

Gold and silver prices saw a small decline on Monday after a sharp rally in recent weeks, offering slight relief to buyers amid record-high rates. In the domestic market, 24-carat gold slipped ₹10 to ₹1,52,340 per 10 grams, while silver prices fell ₹100 to ₹2,74,900 per kilogram.

Despite the minor dip, prices continue to remain near historic highs as global tensions and inflation fears keep investors interested in safe-haven assets like gold and silver. Analysts say uncertainty surrounding the US-Iran talks and rising crude oil prices are continuing to influence precious metal markets worldwide.

Higher oil prices have increased concerns that inflation could stay elevated for longer, reducing hopes of early interest rate cuts by major central banks. This has kept gold prices supported even as the market witnessed mild profit booking on Monday.

In India, bullion demand has also come into focus after Prime Minister Narendra Modi recently urged citizens to avoid unnecessary gold purchases for a year. The appeal is aimed at reducing pressure on the country’s import bill and foreign exchange reserves, as India imports a large portion of the gold it consumes.

However, jewellers believe demand linked to weddings and festivals is unlikely to slow significantly. Gold continues to hold emotional and cultural importance for Indian families, especially during marriage seasons where jewellery purchases remain customary.

Also Read: Sensex crashes 1,050 points, Nifty slips below 23,900

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PM Modi urges pause in gold buying

Prime Minister Narendra Modi’s call urging Indians to avoid buying gold for a year has brought attention to the economic impact of the country’s massive dependence on gold imports. The appeal comes amid record-high gold prices and growing concerns over India’s widening trade deficit.

India remains one of the world’s largest gold consumers, importing the majority of its demand from overseas markets. Economists say rising gold imports increase pressure on foreign exchange reserves and weaken the rupee, especially at a time when crude oil prices are also climbing sharply.

The government’s concern is linked to the current account deficit, which expands when import bills rise faster than exports. Analysts note that high gold purchases during weddings and festive seasons significantly contribute to the import burden. With global gold prices continuing to rally due to geopolitical tensions and inflation concerns, India’s import costs have increased substantially.

Industry experts believe the Prime Minister’s statement is aimed at encouraging households to shift savings towards financial instruments instead of physical gold. Financial planners argue that excessive household allocation to gold limits productive capital flow into equities, mutual funds and banking products.

The jewellery industry, however, expects demand to remain resilient despite higher prices. Companies such as Titan and Senco Gold have indicated that wedding-related buying continues to support sales, although consumers are increasingly opting for lightweight jewellery and exchange schemes to manage costs.

Market observers say the government is trying to reduce non-essential imports at a time when the rupee is under pressure against the US dollar. A sustained rise in gold and crude oil imports could further strain India’s macroeconomic indicators in the coming months.

Also Read: Sensex crashes 1,050 Points, Nifty slips below 23,900

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₹30,000 cr blow to state-run oil firms in India

Indian oil marketing companies are facing heavy financial pressure as rising global crude prices continue to increase losses. Reports estimate that state-run firms are losing around ₹30,000 crore every month while keeping petrol and diesel prices unchanged.

The surge in crude prices has been linked to ongoing tensions in the Middle East, raising concerns over possible supply disruptions in the global energy market. Despite higher import costs, oil companies have not increased retail fuel prices in India.

Companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum are reportedly bearing the burden to maintain price stability for consumers. Industry experts say this has resulted in major under-recoveries for the firms.

India depends heavily on imported crude oil, and any sharp rise in international prices directly impacts fuel companies and the economy. Economists say stable fuel prices help control inflation and reduce pressure on transport and daily expenses.

However, analysts warn that continued losses may become difficult to sustain if global oil prices remain elevated for a longer period.

The government has not yet announced any relief measures, but discussions are reportedly underway as companies continue to face mounting pressure.

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RBI clears Kotak stakes in AU SFB, Federal Bank

Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 9.99% stake each in AU Small Finance Bank and Federal Bank, strengthening its presence in India’s private banking sector.

The approval allows Kotak Mahindra Bank, along with its group entities and investment arms, to increase its holding in both banks within the permitted limit. The move is being viewed as a strategic investment aimed at expanding Kotak’s footprint across different segments of the banking industry.

Both AU Small Finance Bank and Federal Bank informed stock exchanges that the RBI granted the approval earlier this week. However, the acquisition will still need to comply with banking, market, and foreign investment regulations.

The development comes at a time when Indian banks are increasingly exploring partnerships, investments, and consolidation opportunities to strengthen growth and improve market reach. Analysts believe Kotak’s investments in the two lenders could open the door for closer strategic cooperation in the future.

Federal Bank has a strong presence in retail and SME banking, particularly in south India, while AU Small Finance Bank has built a significant franchise in the small finance and rural lending segment. By investing in both institutions, Kotak gains exposure to different customer segments and regional markets.

The announcement also received a positive response from investors, with shares of the three banks witnessing gains during trading sessions following the RBI approval.

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