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Credit card spending in India moderated in January to Rs 1.99 lakh crore, down from December's festival-led high but up over 8% year-on-year. This indicates a normalization of growth after a festive surge, with active card numbers rising to 116.6 million, though new additions slowed due to tighter underwriting and regulatory caution.
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Fairfax-backed IIFL Finance is planning to raise $500-750 million in external commercial borrowings and dollar bonds this March. This move aims to diversify its funding sources and support business growth, with discussions underway with existing investors and banks from Singapore and Taiwan. The fundraising will utilize dollar-denominated loans and foreign currency social bonds.
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HSBC reported an 11% rise in India profit before tax to $1.86 billion in 2025, led by strong corporate and institutional banking growth. India became its third most profitable market as China earnings slumped, while global profits declined despite beating expectations.
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ETMutualFunds has shortlisted the top midcap mutual funds based on mean rolling returns, consistency over the last three years, downside risk, outperformance and asset size. The threshold is Rs 50 crore.
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A viral 7,000-word Substack essay by Citrini Research founder James van Geelen sparked a sharp selloff on Wall Street by outlining a hypothetical 2028 Global Intelligence Crisis. The scenario imagines AI wiping out white-collar jobs, crushing software revenues, straining credit and housing markets, and triggering a deflationary economic cascade.
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