State Bank of India (SBI), the country’s largest lender, celebrated its 70th anniversary by unveiling a series of digital initiatives aimed at bolstering its market leadership. Chairman C.S. Setty emphasized the bank’s commitment to leveraging technology, strategic alliances, and data-driven decision-making to remain relevant in a rapidly evolving financial landscape.

JM Financial Ltd. has completed the acquisition of the remaining 2.98% equity in its lending subsidiary, JM Financial Credit Solutions Ltd. (JMFCSL), from Moraine Master Fund LP. The Rs 88.97 crore transaction, executed via a share purchase agreement dated June 27, 2025, now gives JM Financial complete ownership of the non-banking financial company (NBFC). The strategic move is expected to strengthen the group’s financial integration, improve capital deployment, and streamline profit distribution.

In a significant move to deepen industrial cooperation, Union Steel Minister H. D. Kumaraswamy met with UAE Minister of Economy Abdulla Bin Touq Al Marri in Dubai to discuss joint ventures in the development of high-grade steel and aluminium. The dialogue, held under the ambit of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), focused on fostering cross-border collaboration in sectors critical to both economies, particularly automotive, mobility, and high-end manufacturing.

Saraswat Bank, India’s largest urban cooperative bank, has formally proposed a merger with the troubled New India Cooperative Bank (NICB), aiming to stabilize the latter’s operations and safeguard depositor funds. The move comes after NICB was rocked by a Rs. 122 crore fraud and placed under RBI administration earlier this year. Saraswat Bank Chairman Gautam Thakur assured that all 1.22 lakh depositors of NICB will receive full access to their savings with no loss or haircut. The merger, subject to shareholder and regulatory approvals, is expected to conclude by September 2025.

Honda Motorcycle and Scooter India (HMSI) recorded a 17% year-on-year decline in total wholesales for June 2025, with dispatches falling to 4,29,147 units from 5,18,799 units in the same month last year. The decline was primarily driven by weaker domestic market performance, where sales dropped over 19% to 3,88,812 units. However, the company saw a modest rise in export volumes, which grew to 40,335 units from 36,202 units in June 2024.

In a landmark regulatory development, the Indian government has officially permitted the use of private motorcycles for passenger transport via ride-sharing platforms, subject to approval by state authorities. Announced under the Motor Vehicles Aggregator Guidelines 2025, this policy shift seeks to bring long-overdue legal clarity to India’s rapidly evolving shared mobility sector. The decision is expected to benefit operators like Uber and Rapido, who have long navigated legal ambiguities.

Deepinder Goyal, renowned for revolutionizing India’s food delivery landscape through Zomato, is now venturing into the aviation sector with a bold new startup — LAT Aerospace. Alongside co-founder Surobhi Das, the initiative aims to democratize regional air travel by making it significantly more affordable and accessible, particularly for residents of Tier-II and Tier-III cities. Backed by $50 million in early-stage funding, including a Rs.

Anupam Kher’s second directorial venture, Tanvi: The Great, has generated significant buzz following the release of its trailer, garnering acclaim from fans, critics, and leading Bollywood icons including Shah Rukh Khan and Anil Kapoor. The film stars Shubhangi as Tanvi Raina, a young woman with autism who endeavors to fulfill her late father’s patriotic dream of hoisting the Indian flag at the Siachen Glacier. Featuring an ensemble cast and a deeply inspiring narrative, Tanvi: The Great is set for a theatrical release on July 18.

Kolkata-based Crizac Ltd, a prominent player in the education services sector, completed its anchor investor round on July 1, 2025, raising Rs. 258 crore ahead of its upcoming initial public offering. The IPO, entirely structured as an offer-for-sale (OFS) worth Rs. 860 crore, drew participation from marquee domestic and international institutional investors. With shares allocated at Rs. 245 each, market sentiment remained cautiously optimistic, reflected in a modest grey market premium of Rs. 12.

India’s largest lender, the State Bank of India (SBI), has officially designated the loan account of Reliance Communications, a debt-laden telecom company once led by Anil Ambani, as “fraudulent.” The classification comes after months of correspondence and a failure by the company to justify loan irregularities. This move follows a similar declaration by Canara Bank in 2024, which was subsequently stayed by the Bombay High Court.