SBI Mutual Fund purchased a 3.6% stake in Asian Paints from Reliance Industries for Rs 7704 crore, marking one of Indias biggest bilateral block deals. Reliance monetized a 17-year-old investment, reaping a 23-fold return amid competitive industry pressures.
The Reserve Bank of India has instructed banks and NBFCs to permit transactions for low-risk customers with pending KYC until June 30, 2026, provided reminders are sent. Self-declaration via banking correspondents is now allowed for unchanged KYC or address updates. Banks can update KYC for inactive accounts and unclaimed deposits across branches, including through video identification.
An Air India passenger plane bound for London with more than 240 people on board crashed Thursday in Indias northwestern city of Ahmedabad, and there were no known survivors, officials said.
