Fuel price hikes spark criticism over falling crude costs, tax burden, and demands for rollback of petrol and diesel rates
Fuel price increases prompted criticism of the Centre's pricing policy, with Congress leaders alleging repeated hikes in petrol and diesel despite falling crude oil prices and demanding a rollback. The criticism extended to LPG, domestic gas, commercial gas and CNG, with the speakers linking the higher fuel burden to inflation and pressure on farmers, salaried households, small businesses and ordinary consumers. The leaders also questioned the Centre's collection of revenue from petroleum taxation and its use of resources from the RBI, alleging that the benefits of lower crude prices were not being passed on to consumers.

Rupee appreciation supported by market optimism, softer dollar trends and RBI focus on orderly price discovery.
The Indian rupee appreciated against the US dollar for a third straight session amid improved market sentiment, including expectations of progress in US-Iran negotiations and a possible interim trade understanding between the US and India. The Reserve Bank of India Governor stated that the central bank would do whatever is required to ensure orderly price discovery in the foreign exchange market and said the rupee is not overvalued and may have been undervalued after its recent depreciation.

Rupee appreciation against the US dollar reflects trade deal hopes, softer global sentiment and RBI market monitoring.
Rupee appreciation against the US dollar was reported in early trade, supported by expectations of progress in US-Iran peace negotiations and indications that an interim India-US trade agreement may be nearing finalisation. The Reserve Bank of India was noted as remaining active in the market to monitor the dollar and manage volatility, while traders also referred to lower holiday-related demand and possible month-end demand. The report placed the currency movement alongside softer dollar strength, lower oil prices, equity gains, and a weekly fall in foreign exchange reserves.

Bank staffer alleged theft and money laundering from currency chest through property purchases and cryptocurrency investments.
A public sector bank employee was arrested in connection with the alleged theft of cash from an RBI currency chest in Ahmedabad and the laundering of the stolen money through property purchases and cryptocurrency investments. The theft was allegedly carried out by concealing currency notes in iron boxes presented as scrap, with two contract labourers involved. Police registered an FIR, recovered part of the money, and said the accused used proceeds to buy property, a commercial vehicle and a shop, and to invest in cryptocurrency.

Failed ATM transactions trigger bank liability for prompt reversal, delay compensation, and accountability under RBI norms.
Consumer protection jurisprudence concerning failed ATM transactions and the liability of the card-issuing bank to reverse wrongly debited funds promptly. A consumer court found deficiency in service where cash was not dispensed from an ATM but the customer's account was debited, and the amount remained unreversed for several months despite repeated complaints. RBI norms require reversal within five days and provide compensation for delay, with accountability placed on the card-issuing bank even when the withdrawal was attempted at another bank's ATM.

GIFT City's international financial ecosystem review highlights sectoral growth, regulatory agility and infrastructure needs.
GIFT City's progress and evolving international financial services ecosystem were reviewed in a high-level meeting focused on strengthening its position as a globally competitive international financial and business hub. The discussion covered sectoral development across banking, capital markets, fund management, insurance and reinsurance, aircraft and ship leasing, fintech, bullion exchange, international education and allied services, along with infrastructure development, talent ecosystem, ease of doing business, taxation framework and residential ecosystem.

GIFT City's global financial ecosystem gains focus through banking, fintech, leasing and infrastructure expansion.
India's GIFT City was presented as a strategic international financial services centre combining scale, technology, talent and growth opportunities, with a role in deepening integration with global financial markets and facilitating international capital flows through globally benchmarked institutional frameworks, regulatory agility and a supportive ecosystem. The review meeting focused on strengthening its global financial ecosystem through expansion of banking, fintech, insurance, fund management, GCCs, aircraft leasing and ship leasing activities, together with infrastructure development, global connectivity, ease of doing business, talent attraction and future-ready social infrastructure.

Reserve Bank surplus transfer and contingency risk buffer management shape a record dividend to the government.
The Reserve Bank approved a record surplus transfer to the Central Government for FY 2025-26, driven by higher net income, balance-sheet expansion and the revised Economic Capital Framework. The framework allows the Contingent Risk Buffer to be maintained within 4.5 per cent to 7.5 per cent of the balance sheet, and the Central Board increased the buffer transfer before approving the surplus transfer. The dividend forms a major part of non-tax revenue and is linked to macroeconomic risks, buffer management and financial performance.

Rupee strength gains support from softer crude, easing yields and Reserve Bank market intervention amid geopolitical uncertainty.
The rupee strengthened for a second straight session against the US dollar, supported by softer crude oil prices, easing US Treasury yields, positive domestic equities and market comfort from constructive diplomatic signals linked to the Iran situation. Traders also cited supposed Reserve Bank of India intervention, including market activity connected with a USD-INR buy-sell swap, while commentary noted that the rupee remained supported by lower imported commodity prices and reduced dollar strength. The central bank also reported a decline in forex reserves during the week ended May 15.

Supply-side pressures cloud India's near-term outlook as inflation spillovers, trade disruptions and external headwinds warrant close monitoring.
India's near-term outlook is described as resilient but clouded by supply-side pressures linked to the West Asia conflict, with inflationary spillovers requiring monitoring. Domestic demand remains the main growth driver, while the external sector faces pressure from crude oil prices, capital flows and a wider merchandise trade deficit. The economy is said to be cushioned by robust services exports, positive net FDI flows, foreign exchange reserves and policy measures. High-frequency indicators showed mixed trends, including e-way bill growth, fuel consumption changes and higher electricity demand.

External sector outlook faces pressure from financial conditions, crude oil prices and capital flows amid West Asia uncertainty.
External sector outlook remains under pressure from financial conditions, crude oil prices and capital flows amid the West Asia conflict, with volatility in commodity markets, global trade flows and supply chains adding to uncertainty. India is described as entering this phase from a position of macroeconomic strength, with domestic demand continuing as the main driver of growth, while robust services exports, positive net FDI flows, foreign exchange reserve buffers and policy measures are expected to cushion external headwinds.

RBI surplus transfer and contingent risk buffer policy reflect strong income, balance-sheet growth, and macroeconomic caution.
The Reserve Bank of India approved transfer of surplus to the Central Government for the accounting year 2025-26 after reviewing its financial performance, macroeconomic conditions and risk buffer requirements. The approved surplus transfer was set at Rs 2,86,588.46 crore, while the Bank also recorded net income of Rs 3.96 lakh crore for FY26 and an expanded balance sheet of Rs 91,97,121.08 crore. Under the revised Economic Capital Framework, the Central Board maintained flexibility for the Contingent Risk Buffer within the range of 4.5 per cent to 7.5 per cent.

Retail access to corporate bonds expands as digital platforms, lower entry thresholds, and changing rates reshape fixed-income investing.
India's corporate bond market is becoming more accessible to retail investors as digital investment platforms, lower entry thresholds and improved awareness broaden participation beyond institutions and large financial investors. Retail access has been supported by RBI Retail Direct, SEBI's online bond platform framework and lower minimum investment requirements, which have made listed corporate bonds easier to compare, review and hold through digital channels. The market is also being shaped by changing interest rate conditions, with investors increasingly comparing corporate bonds against fixed deposits and other fixed-income products on the basis of yield, risk and tax treatment.

Foreign exchange reserves decline as foreign currency assets, gold reserves and SDRs fall amid rupee pressure.
India's foreign exchange reserves declined during the reporting week, driven mainly by a fall in foreign currency assets, with additional decreases in gold reserves, special drawing rights, and the reserve position with the IMF. The note states that foreign currency assets are affected by changes in non-US currencies and refers to forex market intervention through dollar sales amid rupee pressure.

Foreign travel curbs and domestic tourism push aim to conserve fuel, foreign exchange, and support local economy.
The Maharashtra government has cancelled all proposed foreign tours of its tourism department and affiliated delegations with immediate effect to conserve fuel and foreign exchange reserves. The measure follows the Prime Minister's austerity appeal and the Chief Minister's directions, with an official order issued to the department. The ministry also urged citizens to prioritise domestic tourism, conserve foreign exchange, reduce energy and resource wastage, and use public transport or eco-friendly vehicles wherever possible.

Record RBI dividend transfer to government reflects higher surplus and stronger annual income position.
The Reserve Bank of India approved a record dividend transfer to the Government for the 2025-26 financial year, reflecting a higher surplus distribution than in the previous year and providing additional fiscal space. The decision was taken by the Central Board of Directors and followed the bank's annual surplus position, which rose alongside higher net income before risk provision and transfer to statutory funds.

Consumer financing for air conditioner purchases through EMI plans and partner stores, backed by an RBI-registered NBFC.
Consumer financing is offered for the purchase of Haier air conditioners through Bajaj Finance partner stores, with models compared on cooling capacity, star rating, and product features before purchase. The financing facility includes an Insta EMI Card or Easy EMI Loan, selective zero down payment offers, and repayment tenures ranging from 3 to 60 months, enabling the cost of purchase to be split into monthly instalments. Bajaj Finance is described as a Reserve Bank of India-registered deposit-taking non-banking financial company, classified as an NBFC-Investment and Credit Company, engaged in lending, acceptance of deposits, and a diversified retail and commercial lending business.

Payment systems access and remittance authorisation accompany strong earnings growth, dividend distribution, and lower finance costs.
Strong improvement in profitability was reported for the quarter and financial year ended 31 March 2026, with the company recording its highest ever earnings from business operations, reduced finance costs, and a 30% total dividend for FY26. The disclosure also noted that the company had no outstanding public fixed deposits or long-term borrowings. It stated that the company had obtained an operative bank account with the Reserve Bank of India and its own IFSC code, enabling participation in centralised payment systems and settlement of RTGS/NEFT transactions and trade or business-related remittances.

Rupee appreciation gains support from softer crude, easing geopolitical tensions, and expected central bank swap intervention.
The rupee appreciated in early trade against the US dollar amid softer crude oil prices, tentative easing of geopolitical tensions, and active Reserve Bank of India intervention in the foreign exchange market. Confidence also improved on account of the central bank's planned USD buy-sell swap auction, seen as a liquidity-supportive measure that could inject rupee liquidity into the banking system and help contain excessive exchange-rate volatility.

Rupee recovery reflects crude oil softness, geopolitical easing, and central bank support amid continued currency market pressure.
The rupee recovered from its all-time closing low to settle stronger against the US dollar, supported by lower crude oil prices, signs of easing geopolitical friction, and reported central bank intervention. Market participants said currency trading continued to reflect geopolitical risk, oil sensitivity, and expectations around the upcoming monetary policy review, while the one-year forward market suggested a weakening bias in the USD/INR outlook over the next 12 months.