Two Indian State Firms Pull Bond Sales as RBI Moves Spark Swings

Two state-run Indian companies scrapped plans to issue rupee-denominated bonds amid yield volatility triggered by the Reserve Bank of India's surprise policy moves.
Refiner Indian Oil Corp. on Wednesday withdrew plans to sell as much as 30 billion rupees ($351 million) of five-year notes despite strong demand, while Power Finance Corp. on Monday canceled a 20-billion rupee sale of bonds due in July 2035.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Entrepreneur

a day ago

• Entrepreneur

Guardians Of Digital Trust

Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. As India's digital penetration deepens across Tier I to Tier III cities, the digital economy is thriving, but so are digital frauds. According to the Reserve Bank of India's (RBI) annual report, digital payment fraud surged more than fivefold to INR 14.57 billion (USD 175 million) in the fiscal year ending March 2024. KYC (Know Your Customer) scams are on the rise, with cases like a 73-year-old Mumbai woman losing INR 2 lakh and an RTO clerk duped of INR 4.35 lakh, exposing the growing vulnerabilities in the system. Amidst this landscape, IDfy is stepping up to combat fraud with Artificial Intelligence (AI) solutions. "We power about 60 per cent of all video KYCs in India," says Ashok Hariharan, Co-founder and CEO of IDfy. The company provides end-to-end verification services for banks, insurance providers, credit card issuers, and online merchants from employee onboarding to authenticating transactions. Yet, as Ashok points out, fraudsters are constantly evolving. "Fraudsters are always finding holes in the lock one area, they'll find a backdoor." Phishing, digital arrest scams, and mule accounts have proliferated, exploiting weaknesses in systems that rely heavily on physical KYC or less sophisticated technologies. "They target cooperative banks with weaker systems, often colluding with branch managers to bypass manual verification," Ashok adds. AI, however, is proving to be a formidable defense. "Deepfake detection, device mimicry, and intrusion attacks – we can catch all of this today," Ashok explains. By using AI models that analyse anomalies, IDfy can flag suspicious transactions such as a low-income applicant seeking a high-value loan. "A person living in Dharavi applying for a INR 10 crore loan that's anomalous," he highlights. IDfy's platform operates on four fundamental questions: Does the individual exist? Is the person the one transacting? Have they committed fraud before? Are they likely to commit fraud in the future? With AI, the company matches PAN card selfies to live photos, preventing fraudsters from impersonating others. It also cross-references court records and prior transactions to strengthen fraud detection. The need for such rigorous checks is clear. "In a test with cab aggregator platforms, seven per cent of vehicles we flagged were linked to drivers with criminal records or vehicles involved in hit-and-run cases," Ashok reveals.

Business Upturn

a day ago

• Business Upturn

Nifty 50 top losers this week (June 21): Tata Motors, Adani Ports, Bajaj Finance, Dr. Reddy's, Adani Enterprises and more

By Aman Shukla Published on June 21, 2025, 09:26 IST Indian stock markets ended the week on a positive note, with benchmark indices posting solid gains. Both the Nifty 50 and Sensex rose over 1.5% for the week, recovering losses from the previous week. Several major stocks underperformed this week, with Tata Motors, Adani Ports and Bajaj Finance leading the losses. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Nifty 50 Top Losers This Week Tata Motors closed at ₹676.2, down 5.0% for the week despite a modest daily gain of 0.6%. Adani Ports and Special Economic Zone ended at ₹1349.3, falling 4.0% over the week. Bajaj Finance settled at ₹905.0, recording a weekly loss of 3.0% . Dr. Reddy's Laboratories closed at ₹1325.3, down 2.7% this week. Adani Enterprises ended the week at ₹2448.4, registering a 2.4% decline. Sun Pharmaceutical Industries slipped 1.3% to finish at ₹1665.1. Bajaj Finserv closed at ₹1986.2, falling 1.2% during the week. Bajaj Auto declined 1.1% , ending the week at ₹8371.0. Nestle India recorded a 0.7% drop to settle at ₹2360.4. Hindustan Unilever closed the week at ₹2306.2, down 0.6%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Adani enterprisesAdani PortsBajaj FinanceDr Reddy'sNiftyTata Motors Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Business Upturn

a day ago

• Business Upturn

Nifty 50 top gainers this week (June 21): Mahindra & Mahindra, Trent, Bharti Airtel, Eicher Motors and more

By Aman Shukla Published on June 21, 2025, 09:20 IST Indian equity markets wrapped up the week on a positive note, with both benchmark indices—Nifty 50 and Sensex—posting weekly gains of over 1.5%. Friday's strong close helped recover ground lost in the previous week. Several Nifty 50 stocks posted impressive weekly gains, with Mahindra & Mahindra, Trent and Bharti Airtel leading the charge. Let's take a look at the top gainers of Nifty 50 this week, as per Trendlyne data. Top Stock Gainers This Week (Ending June 21, 2025) Mahindra & Mahindra closed at ₹3,184.40, gaining 5.9% during the week. Trent ended at ₹5,897.50, up 5.5% over the past five trading sessions. Bharti Airtel settled at ₹1,936.70, registering a weekly gain of 5.2%. Eicher Motors finished the week at ₹5,525.00, marking a 3.9% increase. Bharat Electronics rose 3.6% to close at ₹408.30. HDFC Life Insurance ended at ₹779.00, up 3.5% this week. Asian Paints gained 3.2% to close at ₹2,285.70. SBI Life Insurance moved up 3.2% to finish at ₹1,810.90. Maruti Suzuki India ended the week 3.1% higher at ₹12,791.00. Kotak Mahindra Bank posted a 3.0% gain, closing at ₹2,169.80. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Bharti AirtelEicher MotorsMahindra & MahindraTrent Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at