RBI to auction ₹14,500 crore state government securities on April 28

RBI to auction ₹14,500 crore state government securities on April 28


The Reserve Bank of India will conduct an auction of State Government Securities (SGS) worth ₹14,500 crore on 28 April 2026.

According to the central bank release, several states, including Assam, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Uttar Pradesh, and Uttarakhand, will participate in this issuance, offering securities across a range of maturities. These include both fresh issuances and re-issuances of existing securities, with tenors ranging from 3 to 23 years. Some securities will be auctioned based on yield, while others – primarily re-issued securities – will be auctioned based on price.

The auction will be conducted electronically through the RBI’s Core Banking Solution, E-Kuber. Both competitive and non-competitive bids must be submitted on the same day. The bidding window for competitive participants is from 10:30 AM to 11:30 AM, while non-competitive bidders can submit their bids between 10:30 AM and 11:00 AM. Under the non-competitive bidding facility, up to 10 per cent of the notified amount of each security is reserved for eligible individuals and institutions, subject to a cap of 1 per cent per bidder per security. Retail investors can access this facility through the RBI Retail Direct platform.

Participants are required to quote yields or prices up to two decimal places. Multiple bids at varying yields or prices are permitted; however, the total bid amount for each state must not exceed the notified amount. The RBI will determine the cut-off yield or price for each security, which will guide the allocation. Securities will be issued in a minimum denomination of ₹10,000 and in multiples thereof.

Auction results will be announced the same day, and successful bidders will have to complete payment by 29 April 2026, during banking hours at designated RBI offices. Newly issued securities will carry interest rates determined at the auction and will pay interest semi-annually on 29 April and 29 October. Re-issued securities will retain their original coupon rates, with similar half-yearly interest payments.

Investments in SGS qualify as eligible assets for banks’ Statutory Liquidity Ratio (SLR) requirements and are also eligible for repo transactions, enhancing their liquidity and attractiveness to institutional investors.

Published on April 27, 2026



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Shriram Finance shares fall nearly 5% despite strong Q4 profit growth

Shriram Finance shares fall nearly 5% despite strong Q4 profit growth


Shares of Shriram Finance declined nearly 5 per cent on Monday, even as the non-banking finance company reported a sharp rise in fourth quarter earnings, highlighting investor concerns around asset quality and margin trends.

The stock fell to ₹963.75 on the NSE, trading in the red despite the company posting a 41 per cent y-o-y jump in standalone net profit at ₹3,014 crore for Q4FY26, compared with ₹2,139 crore in the year-ago quarter. The strong profitability was driven by robust growth across key segments including commercial vehicles, passenger vehicles, farm equipment and gold loans.

Brokerages largely described the performance as steady but flagged emerging risks. Motilal Oswal Financial Services said the company delivered a resilient operating performance, supported by steady demand across lending segments and a strong capital base, following MUFG equity infusion. It added that disciplined cost control and stable credit metrics aided profitability, and reiterated a buy rating with a target price of ₹1,200, while cautioning that the evolving macro environment warrants close monitoring.

HDFC Securities termed the results largely in line with estimates, noting that lower operating expenses offset weaker other income. It highlighted steady assets under management growth of 14.8 per cent y-o-y, driven by strong traction in commercial vehicle and gold loans. However, it pointed to a marginal deterioration in asset quality and higher credit costs. The brokerage maintained an add rating, with a revised target price of ₹1,100, citing expectations of growth acceleration supported by fresh capital infusion.

JM Financial also characterised the quarter as mixed, with strong profitability and healthy disbursement momentum offset by softer asset quality trends. It noted that while net interest income growth remained stable, margins saw some compression on a q-o-q basis. The brokerage added that rising stress in segments such as passenger vehicles, MSME and commercial vehicles remains a key monitorable, even as the company’s diversified lending franchise and strengthened balance sheet support long-term growth. It maintained a buy rating with a target price of ₹1,175.

Published on April 27, 2026



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Crude oil futures rise as US-Iran peace talks stall

Crude oil futures rise as US-Iran peace talks stall


Crude oil futures traded higher on Monday morning as there was no progress in initiating talks between the US and Iran to end the conflict in West Asia.

At 10 am on Monday, June Brent oil futures were at $100.38, up by 1.26 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $95.35, up by 1.01 per cent. May crude oil futures were trading at ₹8,998 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹8817, up by 2.05 per cent, and June futures were trading at ₹8590 against the previous close of ₹8432, up by 1.87 per cent.

In their Commodities Feed for Monday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said oil is trading stronger on Monday morning after attempts to get US-Iran peace talks back on track broke down, erasing hopes for a resumption of energy flows through the Strait of Hormuz anytime soon.

The lack of progress means the market is tightening every day, requiring oil prices to reprice at higher levels. There’s little alternative to fill a roughly 13 million barrels a day shortfall.

In the short term, inventories help to fill the gap, whether commercial or strategic reserves. Clearly, the longer this persists, the more demand destruction we will need to see. To see further demand destruction, prices will need to move higher, they said.

US efforts to cut off Iranian oil would add to the upside. Last week, the US seized a sanctioned tanker carrying Iranian oil in the Indian Ocean.

The US also has tightened Iranian oil-related sanctions. It imposed sanctions on China’s Hengli Petrochemical (Dalian) Refinery Co for its purchases of Iranian oil, as well as approximately 40 shipping companies and vessels that form part of Iran’s shadow fleet.

Amid the disruptions in the Strait of Hormuz, Iranian oil has continued to transit the strait. The US blockade appears aimed at forcing a resolution and increasing pressure on Iran to return to negotiations, they said.

Meanwhile, a report in Axios said that Iran has given a new proposal to the US to reopen the Strait of Hormuz and end the war, with nuclear negotiations postponed for a later stage. The report quoted an unnamed US official and two sources with knowledge.

The proposal seeks the extension of the ceasefire for a long period or till the parties agree on a permanent end to the war.

According to the proposal, the nuclear negotiations would only start at a later stage, after the strait was open and the blockade lifted.

The Axios report said that the White House has received the proposal, but it’s unclear whether the US is willing to explore it.

April menthaoil futures were trading at ₹971.50 on MCX during the initial hour of trading on Monday against the previous close of ₹989.80, down by 1.85 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), May castorseed contracts were trading at ₹6518 in the initial hour of trading on Monday against the previous close of ₹6,502, up by 0.25 per cent.

May dhaniya futures were trading at ₹12,994 on NCDEX in the initial hour of trading on Monday against the previous close of ₹13,228, down by 1.77 per cent.

Published on April 27, 2026



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Magnitude 6.2 earthquake shakes part of northern Japan

Magnitude 6.2 earthquake shakes part of northern Japan


FILE PHOTO: The Japanese national flag waves at the Bank of Japan building in Tokyo, Japan March 18, 2024.
| Photo Credit:
KIM KYUNG-HOON

A magnitude 6.2 earthquake shook part of northern Japan early Monday, but no damage or casualties have been reported.

No tsunami advisory was issued by the Japan Meteorological Agency.

The quake struck 18 kilometres west of the small town of Sarabetsu on Japan’s northernmost main island of Hokkaido at a depth of 81 kilometres, according to the US Geological Survey. It measured the quake’s strength at 6.1 magnitude.

A week ago, a 7.7 magnitude earthquake prompted Japan to issue an advisory of a slightly higher risk of a possible megaquake for the nation’s northeastern coastal areas.

Published on April 27, 2026



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Paytm Payments Bank license revocation: Fate of 66K BCs in a limbo

Paytm Payments Bank license revocation: Fate of 66K BCs in a limbo


The fate of about 66,000 business correspondents (BCs) and 719 permanent staff members is in a limbo following the cancellation of Paytm Payments Bank Ltd’s (PPBL) license by the Reserve Bank of India (RBI), bringing into sharp focus the viability of this niche banking model.

The Reserve Bank of India (RBI) cancelled PPBL’s license with effect from close of business on April 24, 2026. It cited the Bank’s non-compliance with various Banking Regulation Act provisions for its action.

The cancellation of Paytm Payment Bank’s license is not merely the closure of a single institution; it raises serious questions about the long-term viability of the payments bank model itself.

“The future of the employees and Business Correspondents associated with the institution now remains uncertain. These are not just numbers—they represent livelihoods built around a policy experiment in financial inclusion,” said CH Venkatachalam, General Secretary, All India Bank Employees’ Association..

RBI conceptualised Payment Banks to serve the underserved and unbanked segments. These Banks operate under a differentiated banking license that allows them to offer essential banking services without engaging in lending activities.

Payment Banks are permitted to accept deposits up to ₹2 lakh per customer, facilitate digital payments and remittances, and distribute third-party financial products such as insurance and mutual funds.

Paytm Payments Bank had approximately 66,000 BCs, with a presence across around 32 states and Union Territories, 540 districts, and 15,000 villages, covering nearly 9,000 pin codes, per its FY25 annual report. Further, the Bank employed 719 permanent staff members.

BCs are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM. The Bank had an average of 17,964 on-roll and 2,086 off-roll employees worldwide, per FY2022 annual report.

“The collapse points to a deeper structural concern: whether a model that restricts core revenue generating activities can remain sustainable in a competitive banking ecosystem. Regulatory oversight, too, must be examined—not merely in terms of compliance enforcement, but also in anticipating and preventing systemic weaknesses.

“In the final analysis, it is the employees, Business Correspondents, and millions of customers who bear the heaviest burden. Any forward-looking response must therefore address three urgent priorities: protection of jobs, continuity of services for customers, and a transparent review of the policy and regulatory framework governing payments banks,” Venkatachalam said.

PPBL’s CASA (current account. Savings account) deosits collectively held a balance of Rs. 428 crore as of March 31, 2025. As of March 31, 2025, its customers had Rs. 271.8 crore in fixed deposits with the partner bank through this arrangement.

Published on April 26, 2026



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Trump was likely target of shooting at White House correspondents' dinner, US official says

Trump was likely target of shooting at White House correspondents' dinner, US official says


U.S. President Donald Trump takes questions from media at a press briefing at the White House, following a shooting incident during the annual White House Correspondents’ Association dinner, in Washington, D.C., U.S., April 25, 2026
| Photo Credit:
Jonathan Ernst

President Donald Trump and ​officials in his administration were the likely targets of a
suspect who fired on a security agent guarding the White House
Correspondents’ Association dinner in Washington, U.S. Acting
Attorney General Todd Blanche said ‌on Sunday.

The man fired a shotgun at a Secret Service agent at a
security checkpoint in the Washington Hilton hotel before being
tackled ​and arrested. Trump and first lady Melania Trump were
rushed out of the dinner.

“It does appear that he, he did, in fact, have ⁠set out to
target folks that work in the administration, likely including
the president,” Blanche told NBC News’ “Meet the Press,” adding
that the suspect likely traveled by train from Los Angeles to
Chicago and then to Washington.

The suspect will be charged in federal court on Monday with
assault of a federal officer, discharging a firearm and
attempting to kill a federal officer, Blanche said, adding he
did not ‌know if there was an Iran connection to the attack.

CONDEMNATION OF SHOOTING

Trump told reporters at a late-night White House briefing
that he believed he was the target of the attack. He said the
Secret Service officer was saved by his bulletproof vest and was
in “good shape.”

U.S. Secret Service spokesperson ‌Anthony Guglielmi confirmed
the officer had been released from a hospital.

ABC News correspondent Jonathan Karl reported that Trump
called him on Sunday morning and insisted that ‌the ⁠White House
Correspondent’s Association reschedule the dinner. “It has to
happen,” Karl said Trump told him.

Around the world, leaders condemned the attack, and
expressed relief that Trump ⁠and all present were safe,
demonstrating solidarity with the United States. NATO leader
Mark Rutte called it an attack “on our free and open societies”
and leaders stressed violence had no place in a democracy.

The British embassy, which is preparing for King Charles’
visit to Washington starting on Monday, said in a statement that
discussions were taking place on whether the incident may affect
planning for the visit. A pre-visit brunch hosted ​by Britain’s
ambassador to the U.S., Christian Turner, was scheduled to
proceed on Sunday.

SUSPECT ‌THOUGHT TO BE ‘LONE WOLF,’ TRUMP SAYS

A law enforcement official identified the suspect as Cole
Tomas Allen, a California resident about 31 years old. Little
was immediately known about Allen’s background, but social media
postings suggested he was a teacher in Torrance, near Los
Angeles.

Washington Interim Police Chief Jeffery Carroll said the
suspect was armed with a shotgun, a handgun and multiple knives.
He was taken to a local hospital to be evaluated but it was too
soon to say what his motivation was, ‌Carroll said.

Bloomberg reported that Allen purchased a shotgun 8 months
ago and a semi-automatic pistol 2 years earlier, citing a law
enforcement intelligence profile.

Blanche said ​the suspect appeared to have checked into the
Washington Hilton on Friday. Without naming the person, he said
the suspect was not cooperating with investigators.

“There is something unique about the threats against
President Trump and his cabinet that is disgusting and it
shouldn’t be happening,” Blanche said ⁠on “ABC This Week.”

The chaotic events from around 8:35 p.m. raised fresh
questions about the security of top U.S. officials, many of whom
were gathered in the hotel’s expansive ballroom.

A focus of the investigation is likely to be how the gunman
was able to smuggle the weapons into a hotel hosting one of
Washington’s biggest black-tie events. Guests entering the lower
ballroom ‌area are screened by security, but the lobby and room
levels are not secured.

The dinner was attended by many members of Trump’s cabinet
and other senior administration officials amid heavy security.
It was the first time Trump attended the event as president,
having boycotted it in previous years.

The site of the dinner was the scene of an attempt on the
life of President Ronald Reagan, who was shot and wounded by a
would-be assassin outside the hotel in 1981.

Closed-circuit TV footage released by Trump on Truth Social
showed the suspect running rapidly through a security
checkpoint, momentarily catching security personnel off-guard
before they drew their weapons.

No shots were fired at the gunman who got through two
checkpoints before being brought down.

“You know, he charged from 50 yards away, so he was very far
away from the room. He was moving. He was really moving,” Trump
said after the gala ‌dinner was canceled.

Officials believe he is a “lone wolf,” Trump said.

HOW IT UNFOLDED

Video footage shows Trump and his wife sitting at a banquet
table on stage in conversation with someone when a commotion at
the ​rear of the ballroom – caused by the noise of gunshots –
triggers a ripple of gasps through the room.

People started screaming “Get down, get down!” Many of the
2,600 attendees dressed in tuxedos and ball gowns took cover
under tables as security personnel drew their weapons, with some
pushing cabinet ⁠secretaries to the floor and covering them with
their bodies while others formed a protective cordon.

Security personnel in combat fatigues stormed the stage
pointing rifles into the ballroom as Trump, ⁠his wife Melania and
Vice President JD Vance were evacuated. Cabinet members who had
been sitting at tables dotted around the vast room were escorted
out by their security details one by one.

Trump stayed backstage for about an hour after being hustled
from the stage, a source told Reuters. He later said ‌he had not
wanted to leave the event, a remark that echoed images of him
defiantly pumping his fist after narrowly escaping an
assassination attempt in Butler, Pennsylvania, in 2024.

In that attempt, Trump was wounded in his upper ear by a
20-year-old gunman, who was shot dead by security personnel.

(Reporting by Bo Erickson, Nandita Bose, ​Jana Winter, Steve
Holland, Kanishka Singh, Tim Reid, Jonathan Landay, Steve
Gorman, Trevor Hunnicutt, Susan Heavey, Jasper Ward, Gram
Slattery, Humeyra Pamuk and Andrea Shalal in Washington; Writing
by Tim Reid and David Lawder; Editing by William Mallard, Sergio
Non, Ross Colvin, Caitlin Webber and Bill Berkrot)

Published on April 26, 2026



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