From US President Donald Trump's stance on whether or not to bomb Iran amid heightening Iran-Israel conflict to Prime Minister Narendra Modi's first Canada visit in the last 10 years, the international front has seen a flurry of activity. India and Canada have been in talks over a trade agreement for more than 10 years, but progress slowed as tensions peaked in Trudeau's term.
On the home front, the Enforcement Directorate has widened its probe into illegal online betting platforms, focusing on endorsements by former cricketers and film personalities.
To Bomb Or Not To Bomb — The Donald Dilemma
Trump's spokeswoman said he will decide within two weeks whether to launch strikes on Iran, as Israel continues to target Iranian nuclear sites and warns that its attacks could topple Tehran’s leadership. Trump has been publicly considering whether the US should escalate by joining Israel’s attacks on Iran.
When asked earlier if he was moving closer to bombing Iran, Trump responded, “I may do it. I may not do it.”
Trump’s uncertain remarks have heightened tensions in the ongoing Israel-Iran conflict. Since Israel began its strikes, Iran has launched numerous ballistic missiles and drones at Israel, resulting in casualties and injuries, while Israel’s attacks have caused significant Iranian losses.
G7 2025: India-Canada Relations On The Mend?
Modi arrived in Canada on Tuesday to participate in the G7 Summit taking place in Kananaskis. This visit marks his first trip to Canada in 10 years.
The Kananaskis summit, held on June 16-17, represents the prime minister’s sixth consecutive attendance at the G7 Summit. The main focus of the meeting will be on enhancing peace and security, combating transnational crime, addressing issues such as wildfires and energy security, among other priorities.
India and Canada have been in talks over a trade agreement for more than 10 years, but progress slowed as diplomatic relations cooled during the period when former Canadian Prime Minister Justin Trudeau was in office.
Paytm Seeks Relief
Paytm’s parent company, One97 Communications Ltd., is reported to have submitted a compounding application to the Reserve Bank of India in an attempt to resolve an ongoing case related to alleged violations of the Foreign Exchange Management Act.
Last year, One97 Communications received a show-cause notice from the Enforcement Directorate concerning alleged breaches involving Rs 611 crore.
This step is intended to address the issue through regulatory means and to avoid formal adjudication proceedings by the Enforcement Directorate, according to sources familiar with the situation.
Fraternal Woes Cast A Cloud Over Sun TV Shares
DMK MP Dayanidhi Maran has issued a legal notice to his elder brother, Sun TV Network Chairman and Managing Director Kalanithi Maran, accusing him of a fraudulent takeover of the group following their father Murasoli Maran’s death in 2003.
The notice alleges that Kalanithi Maran and the others engaged in fraudulent practices, mismanagement, and breach of trust to gain control of Sun TV. Dayanidhi Maran has threatened to seek an investigation by the Serious Fraud Investigation Office. Following this development, Sun TV Network Ltd.’s shares dropped by over 5%.
At the heart of the dispute is the alleged misappropriation of shares and misgovernance in the Sun TV group after Murasoli Maran died intestate, with claims that Kalanithi allotted himself 12 lakh shares in 2003 without proper consent, altering the company’s control.
Betting Apps In Hot Water
The Enforcement Directorate has widened its probe into illegal online betting platforms, focusing on endorsements by former cricketers and film personalities.
Former Indian cricketers Harbhajan Singh, Yuvraj Singh, and Suresh Raina, along with actors Sonu Sood and Urvashi Rautela, have been questioned as part of the investigation into their promotional links with banned betting platforms such as 1xBet, FairPlay, Parimatch, and Lotus365.
ED estimates place India’s illegal online betting market at over $100 billion, growing at 30% annually. Between January and March 2025, these platforms received more than 1.6 billion visits.
Project Finance: RBI Relaxes Loan Guidelines
On Thursday, the Reserve Bank of India relaxed the guidelines for project finance loans provided by banks and non-bank lenders. Effective from October 1, 2025, the updated rules mandate a 1% standard asset provisioning for under-construction projects, a reduction from the 5% provisioning requirement suggested in the draft norms issued in May 2024.
The final guidelines also specify that standard asset provisions will increase with each quarter of delay in the commencement of commercial operations.
Lilavati Medical Trust And HDFC Bank MD Battle It Out
Lilavati Kirtilal Mehta Medical Trust has filed a Rs 1,000 crore civil defamation lawsuit against HDFC Bank’s Managing Director and CEO, Sashidhar Jagdishan, according to a press release.
The Trust alleges that Jagdishan orchestrated a coordinated campaign of false and defamatory statements intended to damage the reputation of the Trust and its Permanent Trustee, Prashant Mehta.
In addition to the civil suit, the Trust has also lodged a criminal defamation complaint with the Metropolitan Magistrate in Girgaon, seeking summonses against Jagdishan and senior officials of HDFC Bank.
Benchmark Indices See An Expiry Day Swap
The BSE announced on Tuesday that the expiry day for its futures and options contracts will be changed from Tuesday to Thursday.
This new schedule will apply to all new equity derivatives contracts expiring on or after Sept. 1, 2025, with monthly contracts specifically set to expire on the last Thursday of each month.
However, there will be no change to the expiry day for contracts that have already been introduced. An exception applies to long-dated index options, where exchanges may realign the expiry day based on existing practices.
On The Economic Front
The US Federal Reserve maintained its repo rate for the fourth consecutive time at 4.25% to 4.50%.
Meanwhile, in India, SEBI’s 210th meeting saw the approval of several measures, including easier norms for voluntary delisting of government firms, confirmed co-investment opportunities for the alternate investment fund sector, simplified compliance rules for research analysts and investment advisors, streamlined regulations to improve ease of doing business for portfolio managers, and allowing startup founders to retain employee stock ownership plans granted at least a year before their company’s initial public offering.
HDB Financial Services' Rs 12,500-Crore IPO Opens
HDFC Bank Ltd.'s unit, HDB Financial Services, filed the red herring prospectus for a Rs 12,500-crore initial public offering.
The IPO will open for subscription on June 25. HDB Financial plans to raise Rs 2,500 crore via a fresh issue of shares and Rs 10,000 crore through an offer for sale of shares held by HDFC Bank. The company has set a price band at Rs 700 to Rs 740 per share for the IPO.
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