Emirates NBD to acquire majority stake in RBL Bank
Mumbai, 22 January 2026 — Emirates NBD has received clearance from the Competition Commission of India to acquire a majority stake in RBL Bank, potentially taking 51 to 74 percent of the lender’s voting capital. The deal involves a complex open offer of up to 26 percent and a proposed amalgamation of Emirates NBD’s Indian banking operations with RBL Bank. The transaction would consolidate retail, corporate and institutional banking under a larger financial group, subject to regulatory approvals. Emirates NBD operates in India via branches, while RBL Bank provides a range of financial services and a GIFT City unit.
Proposed stake: 51%–74% in RBL Bank; through open offer up to 26%
Structure: Amalgamation of Emirates NBD India with RBL Bank
Authors: Regulatory approvals required (SEBI/ RBI/ CCI as applicable)
Current players: Emirates NBD in India; RBL Bank portfolio
Implication: Potential consolidation in Indian private banking
Jan 21, 2026
UP signs MoUs at Davos on clean energy, AI and defence
Uttar Pradesh secured MoUs worth ₹9,750 crore at the World Economic Forum in Davos, signaling a push toward clean energy, artificial intelligence and defence manufacturing. The state delegation, led by finance and parliamentary affairs minister Suresh Khanna, engaged with investors through Invest UP. Key deals include an ₹8,000 crore waste-to-energy project by SAEL Industries, ₹1,600 crore from Sify Technologies for an AI-ready data centre and an AI City in Noida, and ₹150 crore with Yeoman for defence systems. The government anticipates further MoUs in AI, quantum computing and renewable energy moving ahead.
UP MoUs at Davos total ₹9,750 crore.
Major deals: waste-to-energy (₹8,000 crore), AI data centre and AI City (₹1,600 crore).
Defence manufacturing agreement with Yeoman (₹150 crore).
Invest UP leads the state’s investment promotion efforts.
Palantir inks deal with HD Hyundai worth hundreds of millions
Palantir Technologies has clinched a deal to supply software to HD Hyundai, boosting the U.S. firm’s presence in Korea’s heavy-industries sector. The agreement, reportedly valued at hundreds of millions of dollars over multiple years, will enhance data analytics and digital capabilities across Hyundai’s shipbuilding and manufacturing operations. Reuters cited anonymous sources for the figure. Company executives described the partnership as a strategic milestone in advancing industrial digital transformation in Korea, positioning Palantir as a preferred provider for large-scale data integration, analytics, and operational optimization in critical manufacturing sectors.
Palantir signs multi-year software deal with HD Hyundai.
Deal value described as hundreds of millions of dollars (per Reuters).
Aims to boost data analytics and digital capabilities in heavy industries.
Strengthens Palantir’s role in Korea’s manufacturing ecosystem.
Maharashtra signs MoUs worth ₹14.5 lakh crore at Davos
Maharashtra signed 19 memorandums of understanding worth ₹14.5 lakh crore on day one at the World Economic Forum in Davos. Investments span green energy, food processing, steel manufacturing, IT-ITES, data centres, electric vehicles, shipbuilding and digital infrastructure. The government said the deals could create about 15 lakh jobs in the state over time. Chief Minister Devendra Fadnavis announced that more MoUs are expected in AI, quantum computing, digital infrastructure, FinTech and renewable energy over the next two days, underscoring the state’s ambition to attract large-scale investment and technological shifts.
19 MoUs worth ₹14.5 lakh crore signed at Davos (WEF 2026).
Sectors include green energy, steel, EVs, data centres and IT-ITES.
Estimated job potential: about 15 lakh in the state.
Additional MoUs expected in AI, quantum computing, digital infra and renewables.
Investment planned to establish the GCC this year.
Nicolas Hieronimus discussed the project with CM in Davos.
GCC focus: product development, digital services, beauty tech innovation.
India ranks sixth in Asia Manufacturing Index 2026
India ranks sixth among 11 Asian economies in the Asia Manufacturing Index (AMI) 2026, released by Dezan Shira & Associates. The report places India behind Malaysia, which moved to second, with Vietnam slipping to third. Singapore rises to fourth, while South Korea sits at fifth among developed economies. The AMI assesses eight pillars and 43 sub-parameters of manufacturing competitiveness, highlighting regional shifts and competition. The 2026 edition underscores the need for stronger policy support, infrastructure and investment momentum in India to close the gap with top regional players and sustain output growth across sectors.
AMI 2026 ranks India sixth among 11 Asian economies.
Malaysia ahead of India; Singapore and Korea among top three/five.
AMI evaluates eight pillars and 43 sub-parameters of manufacturing.
Aims to steer Raymond Lifestyle through its next growth phase.
Jan 20, 2026
India‑UAE LNG deal; strengthen trade and defence ties
India signed a $3 billion LNG deal with the United Arab Emirates, making the UAE a top LNG supplier. ADNOC Gas will supply 0.5 million metric tonnes per year for ten years to Hindustan Petroleum Corporation Limited (HPCL). The visit by the UAE President emphasized a broader strategic partnership, with plans to double bilateral trade to $200 billion by 2032 and explore defence collaboration. The agreement strengthens energy security for India while expanding trade and strategic alignment with the UAE across multiple sectors.
India–UAE LNG deal worth $3 billion
0.5 million tonnes/year for 10 years to HPCL
UAE top LNG supplier for India
Trade target: $200 billion by 2032
Broader strategic partnership including defence
ICICI Bank board approves Sandeep Bakhshi’s reappointment as MD & CEO till 2028
ICICI Bank’s board approved the reappointment of Sandeep Bakhshi as Managing Director and Chief Executive Officer for a two‑year term from October 4, 2026 to October 3, 2028. The appointment needs RBI clearance, shareholder approval, and other statutory approvals. Bakhshi has been MD & CEO since October 2018, credited with strengthening risk controls, improving asset quality, and delivering consistent growth across retail and corporate banking. The extension aligns leadership continuity with ICICI Bank’s strategy to expand digital banking and financial services in a competitive private sector environment.
Sandeep Bakhshi reappointed MD & CEO till 2028
Requires RBI and shareholder approvals
Tenure from Oct 4, 2026 to Oct 3, 2028
Bakhshi since 2018; credited with risk controls and growth
Supports continued digital banking expansion
Vivek Abrol appointed MD & CEO of Luminous Power Technologies
Vivek Abrol has been named Managing Director and Chief Executive Officer of Luminous Power Technologies, effective January 19, 2026. He replaces Preeti Bajaj, who will move to a global role at Schneider Electric as Executive Vice President of Global Home Solutions. Abrol brings over 25 years of experience across consumer goods, electricals, and appliances. In his new role, he will guide Luminous toward a broader energy‑solutions platform with a stronger emphasis on solar power and sustainable energy. The company aims for deeper market penetration in residential and commercial energy segments as demand for cleaner power grows.
Vivek Abrol named MD & CEO of Luminous
Effective January 19, 2026
Preeti Bajaj moves to Schneider Electric
Abrol has 25+ years of leadership experience
Strategic focus on solar and sustainable energy
Jan 18, 2026
India’s forex reserves rise to $687.19 billion in latest RBI data
India’s foreign exchange reserves rose by $392 million to $687.19 billion in the week ended 9 January 2026, per RBI data. FCAs declined by $1.124 billion to $550.87 billion, reflecting currency movements. Gold holdings increased by $1.568 billion to $112.83 billion. After a previous week’s fall, the reserves show a modest recovery, with currency markets and global factors influencing the reserve composition. Analysts say the trend supports macro stability as the government faces inflation and growth dynamics tied to external demand.
Period: week ended 9 January 2026
Total reserves: $687.19 billion
FCAs: $550.87 billion (down by $1.124 bn)
Gold: $112.83 billion (up by $1.568 bn)
Context: macro stability and external factors
Jan 17, 2026
SBI signs MoU with Tamil Nadu PSUs for enhanced benefits
State Bank of India signed a memorandum of understanding with Tamil Nadu state public sector undertakings to extend enhanced benefits under the Corporate Salary Package for PSU employees. The MoU was signed in Chennai by SBI’s Chennai Circle Chief General Manager and Tamil Nadu officials. The package includes salary services, loan schemes, and exclusive benefits designed to improve financial inclusion and ease of doing business for state employees. The collaboration aligns with efforts to expand public banking access in Tamil Nadu and strengthen financial services linkages between state PSUs and national banks. Officials expect broader economic development benefits.
SBI signs MoU with Tamil Nadu PSUs for salary package benefits.
Chennai event includes senior bank and state officials.
Package features salary services, loan schemes, and exclusive perks.
Aims to improve financial inclusion and public banking access.
Supports stronger PSU-bank linkages and local economic growth.
+91-85588-96644
