The Reserve Bank of India (RBI) has approved the constitution of an interim committee to oversee the operations of IndusInd Bank, which will discharge the duties, roles and responsibilities of the chief executive officer (CEO) of the bank for an interim period until a permanent CEO is appointed, the bank said on Wednesday.

The move comes after IndusInd Bank’s Managing Director and CEO Sumant Kathpalia resigned from his post in connections with the derivatives accounting lapse that has eroded the private sector bank's net worth.

In a stock exchange filing, the bank informed that the committee, comprising Soumitra Sen (Head–Consumer Banking) and Anil Rao (Chief Administrative Officer), will manage the bank’s day-to-day affairs under the supervision of an Oversight Committee of the Board.

The domestic benchmark indices opened flat on Wednesday amid mixed global cues and geo-political tensions, as selling was seen in the PSU bank and financial service sectors in the early trade.

At around 9.32 am, Sensex was trading 7.72 points or 0.01 per cent down at 80,280.66 while the Nifty climbed 1 point or 0.00 per cent at 24,336.95.

Nifty Bank was down 197.50 points or 0.36 per cent at 55,193.75. The Nifty Midcap 100 index was trading at 54,356.00 after declining 231.95 points or 0.42 per cent. Nifty Smallcap 100 index was at 16,602.40 after dropping 136.30 points or 0.81 per cent.

According to analysts, Nifty can find support at 24,200 followed by 24,100 and 24,000. On the higher side, 24,400 can be an immediate resistance, followed by 24,500 and 24,700.

"The charts of Bank Nifty indicate that it may get support at 55,000 followed by 54,700 and 54,400. If the index advances further, 55,600 would be the initial key resistance, followed by 55,900 and 56,200," said Hardik Matalia from Choice Broking.

Consumers across Maharashtra, particularly those in the commercial and industrial sectors with sanctioned load above 20 kW, have been advised to review their electrical systems and take corrective action following the implementation of kVAh billing, now in effect as per the Maharashtra Electricity Regulatory Commission (MERC) Tariff Order.

Under the revised billing methodology, consumers are now billed based on apparent energy (kVAh) instead of only active energy (kWh). kVAh billing considers both active (real) and reactive (non-productive) energy consumption. Maintaining a high Power Factor (close to 1.0) is critical to avoid higher electricity charges.

This change is applicable to all relevant Low Tension (LT) consumers across the state.

Domestic equity benchmark indices went through a volatile session on Tuesday, with stock-specific activity taking the spotlight, amid geo-political tensions.

Sensex opened on a positive note of almost 180 points at 80,396 and surged to an intra-day high of 80,661. However, the index quickly erased its gains, dipping into the negative zone and reaching a low of 80,122, which was 539 points down from its highest point of the day.

Despite this, Sensex made a recovery and closed 70 points or 0.1 per cent higher at 80,288.

Similarly, Nifty opened on a positive note at 24,370 and touched an intra-day high of 24,457 during the early hours of trade.

India's gold demand surged past 800 tonnes in 2024, driven by a rise in jewellery consumption and increased investments in gold exchange traded funds (ETFs), according to a new report released on Tuesday.

The report by Zerodha Fund House revealed that India was the world’s largest consumer of gold jewellery in 2024, with total consumption reaching 563 tonnes.

The value of this consumption was estimated at around Rs 3.6 lakh crore. Gold continues to hold a significant place in Indian culture, particularly during weddings and other auspicious occasions, where its use is widespread.

Apart from jewellery, Indians are also investing heavily in gold in the form of bars and coins. In 2024, the country purchased 239 tonnes of gold in bar and coin form, valued at approximately Rs 1.5 lakh crore.

The Central government on Tuesday blocked the X account of Pakistan Defence Minister Khawaja Asif following the barbaric terror attack in Jammu and Kashmir's Pahalgam that left 26 people dead, most of them tourists.

The action came as Pakistan's role as a "rogue state fuelling global terrorism" was laid bare by the public admission made by Asif.

A Sky News interviewer last week asked Asif if Pakistan had a long history of "backing and supporting and training and funding" terrorist organisations. He candidly admitted that it had.

In the interview, Asif had said, "We have been doing this dirty work for the United States (US) for about three decades... and West, including Britain," when questioned about Pakistan's ties with terror outfits.

Gold has continued to shine bright for investors, delivering a return of over 30 per cent since last year's Akshaya Tritiya, according to brokerage firm Ventura.

As the festival approaches this Wednesday, the price of 24-carat gold has surged from Rs 73,240 per 10 grams in 2024 to nearly Rs 94,000-Rs 95,000 per 10 grams this year.

Akshaya Tritiya is considered one of the most auspicious days to buy gold. It is believed that purchases made on this day invite prosperity and good fortune.

With this belief deeply rooted in tradition, millions across the country turn to gold not just for adornment but also as a time-tested investment -- especially during uncertain times.

Over a longer horizon, gold has delivered even more impressive returns. In the past six years, gold prices have more than tripled. On Akshaya Tritiya in 2019, 24-carat gold was priced at Rs 31,729 per 10 grams, the firm said.

Union Commerce and Industry Minister Piyush Goyal held meetings with members of the Indian business delegation and other top industry leaders in the UK, and discussed avenues for greater collaboration for mutual prosperity.

The Commerce Minister is on a five-day visit to London, Oslo and Brussels this week, for strengthening India’s trade and investment relations with the UK, Norway and the European Union.

“Interacted with members of the Indian business delegation over dinner. Discussed the robust growth of our industry and avenues for greater collaboration with the UK for mutual prosperity,” Goyal posted on X social media platform.

He also met Al Cook, CEO of De Beers Group, and his team to explore global trends in the gems and jewellery sector.

The domestic benchmark indices opened higher on Tuesday amid positive cues from global markets, as buying was seen in the PSU bank, auto and IT sectors in the early trade.

At around 9.25 am, Sensex was trading 409.4 points or 0.51 per cent up at 80,627.85 while the Nifty climbed 118.10 points or 0.49 per cent at 24,446.60.

Nifty Bank was up 492.90 points or 0.89 per cent at 55,925.70. The Nifty Midcap 100 index was trading at 54,931.15 after increasing 490.90 points or 0.43 per cent. Nifty Smallcap 100 index was at 16,860.05 after climbing 183.15 points or 1.10 per cent.

According to analysts, after a positive opening, Nifty can find support at 24,250. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,700.

Even as tensions between India and Pakistan rise once again following the barbaric Pahalgam terror attack, Indian stock markets have showcased resilience every time the two neighbouring nations went into conflict.

While investors may have initially turned cautious, historical trends reveal that Indian markets have consistently overcome geopolitical challenges and emerged even stronger.

Whenever tensions flared along the Line of Control (LoC), the Indian stock markets saw brief declines but soon staged strong recoveries -- reflecting the underlying strength and confidence in India's economic growth.

Take the example of the Balakot airstrike. After the Pulwama terror attack, when the Indian Air Force carried out successful airstrikes on terror camps in Balakot on February 26, 2019, the Sensex fell by 239 points and the Nifty by 44 points.