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HDFC Bank, India's most valued lender, has seen a decline in its stock value in the past three months, raising concerns about its impact in the banking sector. The bank's performance has been relatively subdued compared to public-sector lenders, and uncertainties surrounding its merger with its home-financing parent have weighed on the stock. However, HDFC Bank has been focusing on expanding its branch network in areas with limited competition from private banks, allowing it to compete with public-sector banks for deposits. This strategy is expected to benefit the bank in the coming years and drive earnings growth.

Russian banks, including VTB, Sberbank, and Gazprombank, are considering becoming foreign portfolio investors (FPIs) to trade on Indian stock exchanges. VTB, Russia's second largest bank, has approached the Securities and Exchange Board of India (Sebi) to obtain an FPI license. The proposal will also need approval from the Reserve Bank of India (RBI).

The week ahead will be important for the markets as the Reserve Bank of India (RBI) will announce its monetary policy decisions, and investors will closely monitor global events such as the US manufacturing PMI data, UK manufacturing data, and China's manufacturing PMI data. The movement of the Indian rupee against the US dollar and crude oil prices will also impact market performance.

In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 5,677 crore led by HDFC Bank with a 40 block counts totalling to Rs 1,571 crore. The next in line were ICICI Bank (Rs 870 crore), Tube Investments of India (Rs 589 crore), Kotak Mahindra Bank (Rs 394 crore) and Reliance Industries (Rs 339 crore).

Indian Bank has announced a range of digital initiatives to serve its customers, including offering loans up to Rs 25 crore to micro, small, and medium enterprises. The bank has also redesigned its banking processes and launched a 'home loan takeover' scheme, as well as partnering with India Post to offer National Savings Certificates.

As per the data submitted by the bank, 99.53 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC, the RBI said. Giving reasons behind the cancellation of the licence, the central bank said Lucknow Urban Co-operative Bank does not have adequate capital and earning prospects.

In a letter to chief financial officers at financial institutions supervised by the BoE, which it published online, the central bank also warned them not to overestimate how much money they would recover when borrowers defaulted on loans.

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