Vijay Mallya is facing charges of fraud and money laundering in India. He claims that banks had recovered Rs 14,100 crore from him against his debt of Rs 6,203 crore. The former owner of RCB and Kingfisher Airlines also reiterated that he face discrimination against as opposed to different defaulters who obtained alleviation from banks.

On Friday, RBI cut repo rate by 50 bps to 5.5%, and marks the third reduction in 2025. The bank also shifted its financial coverage stance from ‘accommodative’ to ‘neutral,’ show a more balanced method to address growth and inflation going forward. Following the cost reduction, the Standing Deposit Facility (SDF) price revised to 5.25