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Indian banks reduce costly bulk deposits amid strong FCNR-B inflows
Indian banks are actively reducing expensive bulk deposits following record foreign currency non-resident (FCNR-B) inflows, aiming to optimize funding costs and improve net interest margins. Larger banks could save 25-60 basis points by replacing costly funds with FCNR-B deposits, while total mobilisation through the FCNR-B window may reach $80-85 billion, surpassing expectations.
DealShare in advanced talks to be acquired by Truemeds in share-swap deal
Ecommerce startup DealShare, valued at $1.7 billion at its peak in 2022, is in advanced talks to be acquired by online pharmacy Truemeds in a share-swap transaction that would value it at slightly above its $90 million cash balance, according to sources cited by ET.
Advertisers Seek to Diversify Beyond Google and Meta Amid Concentration Fears
Advertisers are expressing concerns about over-reliance on Google and Meta for online advertising, seeking diversification due to fears of sudden policy changes impacting their businesses, according to Snap Inc's CBO Ajit Mohan in an interview with ET.
Air India Receives Fourth Boeing 787-9 Dreamliner in Delhi
Air India welcomed its fourth Boeing 787-9 Dreamliner aircraft to Delhi, supporting its fleet modernization and transformation program. The aircraft will serve medium and long-haul international routes, with more widebody deliveries expected in coming years and cabin upgrades underway for older Dreamliners.
HDFC Bank CEO Sashidhar Jagdishan to Step Down Amid Operational Gains but Weak Stock Returns
Sashidhar Jagdishan will end his six-year tenure as HDFC Bank MD and CEO, having improved asset quality and loan book size but failing to deliver superior stock performance compared to peers like SBI and ICICI Bank, with the bank's stock down 15% since its 2023 merger with HDFC despite trading above his 2020 entry level.
Indian retailers face rising consumer complaints and profitability challenges in ecommerce expansion
Tata-owned Trent reported a 35% year-on-year increase in consumer complaints to over 300,000 in FY26, attributing the rise to growing online business, while V-Mart Retail and Titan saw increases of 14% and 9% respectively. Retailers including Avenue Supermarts and Reliance Retail are scaling back unprofitable online operations amid mounting losses and stagnant ecommerce sales growth, despite continued investment in digital initiatives.