In a significant policy update, the Reserve Bank of India (RBI) has granted individual banks the autonomy to determine the minimum balance requirements for savings accounts. This move marks a departure from the previous uniform regulatory framework, providing banks with flexibility to tailor balance norms according to their operational and customer profiles. The decision aims to enhance banks’ ability to manage costs and maintain service quality while offering customers varied options based on their banking needs.

In response to escalating cyber threats targeting critical infrastructure, regulators have introduced stringent cybersecurity measures for power systems. These new guidelines mandate comprehensive risk assessments, robust defense mechanisms, and continuous monitoring protocols to safeguard power grids against increasingly sophisticated cyberattacks. The regulatory overhaul aims to enhance resilience, ensure operational continuity, and protect sensitive data within the energy sector.

SJVN Limited, a leading player in the renewable energy sector, reported a 36% drop in its net profit for the first quarter, falling to Rs 228 crore compared to the same period last year. The decline reflects a mix of operational headwinds and fluctuating power generation levels. Despite this setback, the company continues to pursue strategic projects aimed at bolstering its renewable portfolio and long-term growth. Market analysts view the results as a temporary challenge, emphasizing SJVN’s potential to rebound amid India’s expanding clean energy landscape.

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Welcure Drugs Ltd. has unveiled plans for a share split alongside a bonus share issuance, marking a strategic move to improve liquidity and broaden shareholder participation. The company’s board approved a stock split and declared bonus shares to existing investors, aiming to make its shares more affordable and attractive in the secondary market. These corporate actions reflect Welcure Drugs’ commitment to optimizing capital structure while rewarding shareholders.

Larsen & Toubro (L&T), India’s leading engineering and construction conglomerate, has clinched a monumental Rs. 15,000 crore contract from Adani Power. This agreement marks a significant milestone in L&T’s order book, reinforcing its stronghold in the power infrastructure sector. The contract encompasses comprehensive engineering, procurement, and construction (EPC) services, aimed at boosting capacity and efficiency at Adani Power’s thermal power projects.

TVS Supply Chain Solutions Ltd. reported a consolidated net profit of Rs. 71.16 crore for the first quarter ended June 30, marking a robust turnaround from the previous year’s loss. The growth was supported by healthy revenue generation, operational efficiency, and disciplined cost management. The company’s consolidated income climbed to Rs. 2,797.98 crore from Rs. 2,582.19 crore a year earlier, driven by steady demand across sectors and strategic global partnerships.

The Punjab government’s recent Bill Settlement Scheme has led to the recovery of Rs. 9.07 crore in penalties from power consumers across the state. The initiative, aimed at regularizing pending dues and promoting timely payments, witnessed a strong response from domestic, commercial, and industrial users. The scheme offered concessions to defaulters willing to clear outstanding amounts, thereby reducing the burden of prolonged litigations and revenue losses.

ICICI Bank’s recent decision to raise its minimum average balance requirement has sparked widespread discontent among customers, consumer rights groups, and financial commentators. Critics argue the hike disproportionately affects low-income account holders and undermines financial inclusion efforts, while the bank maintains that the change is necessary to offset rising operational costs.

Global management consulting and professional services firm ZS has opened a new office in Hyderabad, strengthening its presence in India and expanding its global delivery capabilities. The new facility aims to cater to the growing demand for advanced analytics, technology, and consulting services from clients across industries. Positioned as a hub for innovation and collaboration, the Hyderabad office will house cross-functional teams working on healthcare, life sciences, and technology-led business transformation projects.

Varmora Granito Ltd., a leading player in the ceramic and vitrified tiles industry, has filed draft documents with the market regulator to launch an initial public offering (IPO) worth Rs. 400 crore. The proposed public issue comprises a fresh issue of shares, aimed at funding the company’s capital expenditure, working capital needs, and general corporate purposes. Known for its strong domestic footprint and growing global presence, Varmora is positioning itself to capitalize on India’s rising demand for construction and home improvement products.