Bank of Maharashtra raises $500 million in global debt
Bank of Maharashtra (BoM) has successfully raised $500 million through its first-ever overseas bond issuance. The debt instrument, comprising five-year US dollar-denominated Senior Unsecured Notes, was issued through BoM’s IFSC banking unit under its $500 million medium-term note programme. The issuance received significant demand from international investors, with the order book reaching nearly three times the issue size, demonstrating strong confidence in the bank and the Indian banking sector.
Why it matters
The oversubscription of BoM's overseas bond issuance signals robust international investor appetite for Indian bank debt. This access to global capital markets diversifies funding sources and can support credit growth within the domestic system.
The Hindu BusinessLine · Sat, 19 September 2026
Read more →US Treasury yields rise as investors weigh outlook for rate hikes
US Treasury yields have increased as investors analyze the prospect of future rate hikes by the Federal Reserve. This comes amidst global inflation pressures, which are driving a new phase of monetary tightening. Adding to this trend, the Bank of Japan has raised its interest rates to their highest level in 31 years, signaling a broader movement towards tighter global monetary policies. The economic landscape continues to be shaped by discussions around interest rate trajectories and efforts to curb inflation.
Why it matters
Rising global yields, particularly US Treasuries, put upward pressure on borrowing costs for Indian entities in international markets and can influence domestic bond yields. The BOJ's move underscores a global tightening trend, potentially impacting capital flows.
The Economic Times · Sat, 19 September 2026
Read more →UPI MDR from October 15: Govt plans daily monitoring to stop merchants passing 0.4% fee to customers
The government is negotiating with payment aggregators regarding the new UPI transaction fees, effective October 15, to ensure that these charges are not passed on to consumers. The finance ministry plans daily monitoring to ensure adherence to the new guidelines. The new Merchant Discount Rate (MDR) applies to UPI payments over ₹2,000 for specific services like fuel and railway tickets (flat ₹5), and 0.4% for other P2M transactions above ₹2,000 outside specified categories. The aim is to balance managing costs for digital payment infrastructure and fostering digital payment adoption.
Why it matters
The government's strict stance on not burdening consumers with UPI MDR, coupled with daily monitoring, indicates a commitment to the 'free for consumer' model. Banks and payment aggregators will need to absorb or manage these costs without shifting them to end-users, affecting their revenue models and pricing strategies.
The Economic Times · Sat, 19 September 2026
Read more →Rupee logs weekly decline; traders expect losses to be capped near 96 against USD
The Indian rupee has experienced a weekly decline, primarily driven by expectations of rising global interest rates. Although oil prices have stabilized amid ongoing geopolitical tensions, the broader market sentiment of tighter monetary policy abroad weighed on the currency. Analysts predict that interventions from the central bank will likely prevent the rupee from falling below 96 against the dollar. This performance contrasts with varied trends seen across other Asian currencies and regional stock markets.
Why it matters
A weakening rupee increases the cost of imports and foreign debt servicing, impacting corporate balance sheets and inflation. Central bank intervention signals a defense of key psychological levels, but sustained global rate hikes could challenge this stance.
The Economic Times · Sat, 19 September 2026
Read more →