8 stories from 3 sources
Supporting Articles
The Reserve Bank of India has told some lenders to revisit how they account for bond-forward trades, including whether certain positions should use Level 3 valuation inputs. The change could affect billions of dollars in banking assets as lenders discuss pricing and clearing solutions with industry groups.
9:02 PMEconomic Times
The Reserve Bank of India has told some lenders to revise how they account for bond forward contracts, according to people familiar with the matter. The contracts represent assets worth billions of dollars across the banking industry.
2:12 AMBloomberg Markets
The rupee ended a six-session winning streak after dollar purchases by state-run banks outweighed supportive factors such as lower crude prices and foreign equity inflows. It touched a six-month high of 93.69 per dollar before closing at 93.9275.
5:24 AMEconomic Times
The Reserve Bank of India holds a net short forward-dollar position of about $239 billion, which could constrain the rupee's appreciation even as foreign portfolio inflows improve. The central bank can manage those inflows in the currency market, limiting their effect on the exchange rate.
5:04 AMEconomic Times
Foreign institutional investors reduced their holdings in 235 BSE smallcap companies for three consecutive quarters. Nine of the affected stocks fell between 50% and 70% in CY26, reflecting the scale of the selloff.
6:10 AMEconomic TimesSummary
The Reserve Bank of India has told some lenders to revisit how they account for bond-forward trades, including whether certain positions should use Level 3 valuation inputs. The change could affect billions of dollars in banking assets as lenders discuss pricing and clearing solutions with industry groups.
The decisive shift is tighter scrutiny of valuations that rely on limited market data. Banks
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A valuation change on a large pool of bond derivatives could alter banks' reported asset values, profits, and capital requirements.
Summary
The Reserve Bank of India has told some lenders to revise how they account for bond forward contracts, according to people familiar with the matter. The contracts represent assets worth billions of dollars across the banking industry.
The RBI's intervention could force banks to revalue positions and adjust reported profits, capital, or
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A change in valuation rules could expose hidden volatility in banks' bond-derivative portfolios and affect earnings and capital ratios.
Summary
The rupee ended a six-session winning streak after dollar purchases by state-run banks outweighed supportive factors such as lower crude prices and foreign equity inflows. It touched a six-month high of 93.69 per dollar before closing at 93.9275.
State-bank dollar demand interrupted the rupee's rally despite favorable external flows and cheaper oil. The
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The rupee's near-term direction will depend on whether incoming dollar supply can overcome persistent institutional demand.
Summary
The Reserve Bank of India holds a net short forward-dollar position of about $239 billion, which could constrain the rupee's appreciation even as foreign portfolio inflows improve. The central bank can manage those inflows in the currency market, limiting their effect on the exchange rate.
The RBI's large forward position gives it a structural reason to absorb or offset dollar
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
FPI inflows may boost reserves without producing a proportionate rupee rally.
Summary
Foreign institutional investors reduced their holdings in 235 BSE smallcap companies for three consecutive quarters. Nine of the affected stocks fell between 50% and 70% in CY26, reflecting the scale of the selloff.
Sustained FII selling is now concentrated in a broad segment of smallcaps, not isolated names.
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Repeated foreign selling is exposing smallcap investors to sharper losses and higher liquidity risk.
A curated list of other prominent stories from this day.
Indian retailers and consumers changed their behavior in the weeks before Diwali, despite expectations of a weaker or more cautious festive season. The shift culminated in strong activity around the festival.
2:15 PMWWD
MakeMyTrip's Indian subsidiary, MMT India, has received approval from Sebi to launch an IPO after confidentially filing draft papers in July. The offering will be an offer for sale by MakeMyTrip and ibibo Group Holdings, with proceeds expected to strengthen the parent company's cash position.
3:12 AMEconomic Times
Nuvama Wealth Management reported consolidated net profit of Rs 303.5 crore for Q2 FY27, up 19% from a year earlier, while revenue rose 20.35% to Rs 1,366 crore. Client assets grew 25% to Rs 5.5 lakh crore, with wealth management, asset services, and capital markets driving performance; return on equity remained 29%.
1:39 AMEconomic TimesSummary
Indian retailers and consumers changed their behavior in the weeks before Diwali, despite expectations of a weaker or more cautious festive season. The shift culminated in strong activity around the festival.
Consumer resilience appears to have outweighed concerns about subdued demand, giving retailers a stronger festive
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Stronger-than-expected festive demand could improve the outlook for India’s retail and consumption-driven businesses.
Summary
MakeMyTrip's Indian subsidiary, MMT India, has received approval from Sebi to launch an IPO after confidentially filing draft papers in July. The offering will be an offer for sale by MakeMyTrip and ibibo Group Holdings, with proceeds expected to strengthen the parent company's cash position.
Sebi's clearance moves the listing from preparation to execution, giving MakeMyTrip a path to monetize
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The listing could unlock value in MakeMyTrip's fastest-growing market and provide a fresh benchmark for India's online travel valuations.
Summary
Nuvama Wealth Management reported consolidated net profit of Rs 303.5 crore for Q2 FY27, up 19% from a year earlier, while revenue rose 20.35% to Rs 1,366 crore. Client assets grew 25% to Rs 5.5 lakh crore, with wealth management, asset services, and capital markets driving performance; return on equity remained 29%.
Nuvama is converting rapid client-asset growth into broad-based revenue and profit expansion, rather than relying
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The results strengthen Nuvama's position as a high-growth wealth platform while raising the valuation stakes for sustaining asset and profitability growth.
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