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Investors approach RBI to buy stake in RBL Bank: Report

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Several well known investors have lined up to buy a stake in RBL Bank and sought Reserve Bank’s permission, according to a media report.

The report said that the investors approached RBI with proposals to buy 10 per cent stake in the bank.

On Saturday, the Reserve Bank of India appointed Yogesh Dayal as an Additional Director on the Board of the RBL Bank.

Besides, the Board accepted the request of Vishwavir Ahuja, CEO of the bank to proceed on medical leave and appointed Rajeev Ahuja, the existing Executive Director of the bank as the Interim Managing Director and CEO subject to regulatory and other approvals.

In a statement on Sunday, the bank said: “We would like to reiterate that these developments are not in any manner a reflection on the fundamentals of the Bank.”

“As we have been communicating to all of you the business momentum and financial performance trajectory have been improving since the second quarter of this financial year as we recovered from the effects of the pandemic.”

It said that current management team led by Rajeev Ahuja has full support from RBI.

“We have absorbed the challenges on our asset quality which were largely due to the pandemic.”

“Capital adequacy was 16.3 per cent and will be in a similar range this quarter. Liquidity Coverage ratios have been well above regulatory requirements – it was 155 per cent for the September quarter.”

The statement further said slippages had peaked in Q2 and will be improving this quarter and next as guided previously.

“The NPA position of the bank will also be on an improving trend. We want to point out here that we have been upfront and transparent on any challenges that we have faced in our various business segments in the past.”

The statement added that the Board has elevated an existing member of the management team to the interim MD and CEO role which should allay concerns on the strategy and smooth functioning of the bank as well as the strength of the overall franchise.

“These developments are not on account of any concern on advances, asset quality and deposits level of the bank. The bank has the full support of the RBI.”

Business

Govt asks Meta to review Facebook and Instagram recommendation systems

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The Ministry of Electronics and Information Technology (MeitY) has asked technology giant firm Meta to review the content recommendation and ranking systems that power Facebook and Instagram, stepping up regulatory scrutiny of how social media algorithms amplify information in India, according to multiple reports.

In an advisory issued to the company, the ministry had asked Meta to ensure that its recommendation systems do not lead to the disproportionate exposure of users to a single or limited set of narratives and instead provide greater access to diverse, relevant and credible information, according to them.

The ministry also directed Meta to strengthen mechanisms for rapidly identifying, reviewing and escalating content that gains significant reach through recommendation systems when such material has the potential to contribute to public confusion, violence or disruption of public order.

Apart from that, the US-based company has been asked to implement the measures immediately and inform the government of the action taken.

The advisory specifically highlights photographs, videos and graphics related to ongoing public events where the authenticity, timing, location or surrounding circumstances may be unclear.

It calls for additional context where old or unrelated visuals are presented as current, where footage has been selectively edited or where unverified claims are made regarding emergencies, police action or other official measures.

Additionally, this marks the latest escalation in the government’s scrutiny of Meta’s moderation and recommendation systems.

Earlier in August, government officials questioned Meta executives over content recommendation algorithms, deepfakes, synthetic media and safeguards against unlawful content.

Meta has separately tightened content and advertising safeguards following concerns related to child sexual exploitation material.

The company said earlier this month it deployed new AI-driven advertising review systems and removed 5.3 million pieces of child sexual exploitation content in India during January-June 2026, with more than 98% detected proactively.

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Sensex, Nifty open flat amid mixed global cues

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Domestic equity benchmarks opened on a flat note on Monday tracking mixed global cues and momentum from last week’s gains.

Sensex opened at 74,849.30, up 120.03 points or 0.16 per cent, while Nifty began trading at 23,150.85, up 4.70 points or 0.02 per cent.

Sectorally, Nifty PSU Bank led gains and rose over 1 per cent, followed by Nifty Oil & Gas which surged 0.6 per cent.

In contrast, Nifty Private Bank, Nifty IT and Nifty Chemicals dropped up to 1 per cent.

Market experts said momentum from Nifty’s 2.8 per cent surge last week and good results from banking majors after better-than-expected IT earnings could keep the market resilient.

“However, escalation of tensions in Hormuz and consequent surge in Brent crude to $109 will act as a strong headwind,” according to them.

They further said that attractive large-cap valuations and rupee appreciation turned FII stance slightly positive, though unlikely to sustain at high crude prices. Large-caps outperforming mid and small-caps is likely to continue, with stock-specific action on Q2 results.

For Nifty, immediate support is placed at 22,950–23,000, while resistance is seen at 23,250–23,300, the experts said and added that RSI strengthened to 52.81 above its average of 34.70, while PCR stood at 1.08.

In the previous session on October 16, FIIs turned net buyers after 15 straight sessions of selling, buying equities worth about Rs 1,166 crore, while DIIs ended their 45-session buying streak with net sales of around Rs 3,661 crore.

On commodities, Brent crude traded nearly 2 per cent lower at around $107.76 per barrel, while US WTI declined about 1 per cent to $100.43.

In Asia, markets were mixed. Japan’s Nikkei traded 0.84 per cent lower, while Hong Kong’s Hang Seng and South Korea’s KOSPI rose up to 0.83 per cent. Indonesia’s Jakarta Composite fell over 5 per cent.

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India-EFTA trade pact opens new opportunities for Norwegian investment across key sectors

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India’s strong economic growth trajectory and the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) are creating significant opportunities for Norwegian investors, particularly in manufacturing, renewable energy, infrastructure, financial services and the digital economy, according to industry insights.

With GDP growth projected to remain around 6.5 per cent annually through 2030, India is widely expected to become the world’s third-largest economy by the end of the decade, according to EY India report.

Analysts attribute this outlook to strong domestic consumption, rising investments, ongoing infrastructure development and reforms aimed at improving the ease of doing business.

The India-EFTA TEPA, which came into effect in October 2025, is being viewed as a major milestone in India-Norway economic relations.

The agreement seeks to promote trade liberalisation, facilitate investment flows and deepen cooperation in areas such as innovation, sustainability and advanced technologies.

The pact includes investment commitments of $100 billion over 15 years and is expected to support the creation of one million direct jobs in India, aligning with the country’s broader goals of expanding manufacturing capacity and strengthening its position in global value chains.

Industry experts believe the agreement creates a strong framework for Norwegian companies to expand their presence in India by combining Norway’s expertise in technology, sustainability and capital-intensive industries with India’s large market and growth ambitions.

Several sectors have been identified as priority areas for collaboration, including manufacturing, renewable energy, oil and gas, maritime services, seafood processing, information and communication technology (ICT), fintech and financial services. These industries are expected to benefit from increasing bilateral cooperation under the TEPA framework.

The rapid expansion of India’s digital economy and digital payments ecosystem is also creating opportunities for Norwegian companies seeking exposure to one of the world’s largest and fastest-growing consumer markets.

At the same time, India’s policy measures aimed at attracting foreign investment are expected to provide a supportive environment for long-term investors, as per the report.

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