Nearly ₹91,000 crore was wiped off HDFC Bank, Axis Bank and Kotak Mahindra Bank's market values as their shares plunged about 5.6% on Monday, ET reported. Axis Bank shares fell 5.6%, wiping out around ₹23,000 crore in market value, while HDFC Bank declined 4.56%, erasing roughly ₹57,500 crore. Kotak Mahindra Bank slipped 3%, losing nearly ₹10,300 crore in market capitalisation.

India's largest state-owned crude oil explorer ONGC donated over ₹688 crore to 20 organisations with RSS links over 10 years, beginning from 2013, The News Minute reported. The donations were made via its Corporate Social Responsibility funds. Assam's Swargadew Siu-Ka-Pha Hospital is the top beneficiary at ₹434 crore, followed by a Nagpur-based trust Dr Aabaji Thatte Seva Aur Anusandhan Sanstha.

The Central Consumer Protection Authority (CCPA) has initiated suo motu action against 41 eateries for allegedly violating consumer rights by levying a service charge by default. The regulatory body also imposed a fine of ₹50,000 on Chaayos. Final orders were also passed against Barbeque Nation, China Gate Restaurant, L'Opera French Bakery and Zorro - The Luxury Night Club, among others.

The government is working on a policy framework to promote ethanol as an alternative cooking fuel to LPG, the Economic Times reported. This comes amid the ongoing debate over E20 (20% ethanol, 80% petrol) for cars. The policy, which may be ready by September, will address issues like subsidy mechanisms, supply chains and infrastructure for the distribution of the fuel.

Costco worker Tony Barzar built ₹9.6-crore wealth with a house and pool, despite earning just ₹3,000/hour. Barzar began working for ₹560/hour at Price Club in 1986 and became a millionaire by contributing small amounts to his 401(k) retirement savings every month when Costco bought his employer. Costco CFO Gary Millerchip said thousands of Costco employees have crores in their 401(k)s.

Digital gold sales more than tripled year-on-year in the first half of 2026, with UPI transactions reaching ₹17,633 crore, according to NPCI data. Over 90% of purchases were made through UPI despite gold prices falling more than 25%. The half-year sales were also 21% higher than the ₹14,549 crore recorded in all of 2025.

India's first undersea rail tunnel moved a step closer as the second Tunnel Boring Machine began excavation for the Mumbai-Ahmedabad Bullet Train project beneath Thane Creek in Maharashtra. The 7-km undersea section is part of a 21-km underground corridor. The 3,200-tonne Mixshield TBM features advanced safety, monitoring and waterproofing systems for challenging geological conditions.

State-owned Indian Overseas Bank (IOB) reported a strong performance for the first quarter of FY27, with its standalone net profit rising 49.3% year-on-year to ₹1,659 crore, driven by healthy growth in net interest income, higher other income and continued improvement in asset quality. The bank had reported a net profit of ₹1,111 crore in the same quarter last year.

Heavy rainfall triggered devastating flash floods and landslides across the border districts of Poonch and Rajouri in Jammu and Kashmir, leaving at least 11 people dead and several others missing. The extreme weather caused extensive damage to homes, roads, and public infrastructure, prompting authorities to launch large-scale rescue and relief operations.

Indian markets ended their strongest session in over a month as banking stocks and Reliance Industries lifted benchmark indices. The gains came even as Brent crude climbed towards $90 a barrel amid renewed conflict in West Asia. Strong quarterly earnings from major banks and Reliance helped offset concerns over rising oil prices and a weaker rupee.