UK Health Secretary Wes Streeting is reportedly preparing to resign, with allies hinting he may challenge Prime Minister Keir Starmer for Labour leadership. The prospect of a party contest has rattled investors, with UK gilts and the pound sliding on the news. Streeting’s spokesperson neither confirmed nor denied the reports, leaving the leadership fight simmering.
The IMF has warned that AI driven cyber incidents could produce extreme losses that ripple into the financial system. It says funding strains may follow, solvency concerns could emerge, and markets could see wider disruption as vulnerabilities evolve faster. The warning highlights how AI is changing both the scale of cyber risk and the potential for broader financial instability.
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NSE’s Electronic Gold Receipts (EGRs) let investors buy and trade physical gold through a fully digital, regulated route. Backed by SEBI-regulated vaults, EGRs are designed to standardize purity and remove concerns around storage. By bringing gold into capital markets, EGRs aim to improve transparency, accessibility, and ease of investing compared with traditional buying.
SEBI has cautioned market participants about emerging cybersecurity risks from advanced AI tools that can search for system weaknesses, including Anthropic’s Mythos. The regulator has set up a task force, cyber suraksha ai, to study these threats and outline response strategies. Firms are urged to upgrade cybersecurity controls and coordinate with technology vendors to reduce exposure.
Moody’s Ratings notes that since the global shock wave that began in 2020, India has risen to the top among developing markets. The analysis says India’s growth path is stronger than peers such as Mexico and Brazil, driven by proactive policy reforms and a resilient financial safety net that helped protect market access and steady the currency.
RBI has appointed Rojit Jain as a new deputy governor for a three-year term, effective Monday. He has taken over several key departments previously managed by T Rabi Sankar, while Shirish Chandra Murmu now oversees currency management and payment systems. Jain will also steer areas spanning IT, fintech, and financial markets, broadening the RBI’s tech and market focus.
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The National Stock Exchange has introduced Electronic Gold Receipts, a new instrument that allows gold to be traded in dematerialised form while staying backed by physical gold stored in regulated vaults. The move is designed to improve transparency and liquidity and widen access for investors, jewellers, and institutions, effectively linking physical bullion with capital markets.
Finance leaders from China, Japan, South Korea and ASEAN met in Samarkand and pledged coordinated vigilance against excessive financial market volatility. They said they will act if needed to protect stability, while also reaffirming commitments to open trade, resilient supply chains and a rules based global trading system during the Asian Development Bank annual gathering.
RBI Governor Sanjay Malhotra says India’s financial markets are holding up strongly despite global headwinds, citing rapid growth, controlled inflation and a robust banking sector. He argues the next phase of growth requires deeper, more efficient markets—driven by higher liquidity and broader participation. The RBI is also rolling out steps to improve market efficiency and transparency.
A new committee will assess public sector banks’ capital constraints, as India looks to deepen its corporate bond market to broaden access to finance. The plan targets smoother flow of capital to all borrowers, including small businesses and farmers, at competitive rates. Authorities also want tighter regulation to improve market functioning and trust.
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Bank credit growth slowed to 15% in the fortnight ending April 15, after banks accelerated lending ahead of the financial year end. Even with this dip, credit growth has stayed in double digits for more than seven months, pointing to continued revival in loan demand from both individuals and businesses.
President Trump has nominated G. Hunter McMaster II as Assistant Treasury Secretary for Financial Markets, a position he has been carrying out since July. McMaster previously led trading at Key Square Group and held senior Treasury advisory and policy planning roles. The Treasury Department also named Quinn Gabriel as White House liaison among other key appointments.
State Bank of India chairman CS Setty says AI is set to revolutionize financial market infrastructure. He expects major changes in how risk is handled, with clearing organizations like Clearing Corp of India moving from post-trade processing to earlier, pre-emptive risk management. As systems digitize and scale, Setty stresses that cybersecurity and operational resilience must remain central.
Europe’s top securities regulator says cyber threats are rising sharply as AI capabilities advance, creating faster and harder-to-stop risks for financial markets. The watchdog is urging stronger defenses and deeper oversight of critical technology providers, while closely tracking high valuations and potential sell-offs. It also flags mounting challenges in regulating crypto activity and calls for more centralized EU supervision.
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RBI’s latest bulletin flags that the West Asia conflict could ripple into India through disrupted trade and supply chains. It warns of higher energy and input costs, increasing inflation risks, and potential spillovers into financial markets. Despite the uncertainty, the RBI expects India’s strong fundamentals to help cushion the economy against these external shocks.
SBI Chairman highlights that financial markets will move beyond mere growth toward “intelligent scale,” powered by AI for smarter risk management and operational efficiency. He also points to deeper global integration and the rise of digital assets. In parallel, the Reserve Bank of India has eased offshore non-deliverable forward trading restrictions, aiming to bolster rupee internationalization as volatility steadies.
RBI Governor Shaktikanta Das says the global economy is entering a fresh storm, with financial markets across countries thrown into turmoil. He notes stress is showing up across equity, bond and currency segments. Despite the global volatility, Das adds that economic activity in India remains stable, offering some cushion for the domestic outlook.
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