Cybercrime Crackdown: Operation Chakra-V
In a major development, the CBI executed Operation Chakra‑V, conducting extensive raids in Noida and across five states. A transnational tech‑support fraud syndicate was dismantled; victims in the UK and Australia were targeted through impersonation scams. Key arrests include Nishant Walia, a main operative. The raids uncovered fake call centers and technical infrastructure used for defrauding unsuspecting individuals.
Simultaneously, investigative searches resulted in the discovery of 8.5 lakh ‘mule’ bank accounts used by fraudsters, spread across 700+ bank branches. These accounts facilitated illicit money flows from scams, leading to several arrests. This intensified crackdown aligns with India’s stronger cybersecurity posture.
Bharat Bandh Disrupts Business Activity
A nationwide Bharat Bandh, led by tens of millions of workers across trade unions and farmers, took place today protesting labor law changes and privatization moves. Public transport, manufacturing, banking, and coal production faced disruptions. Statewide work stoppages were especially severe in southern states, pressuring government-stakeholders to revisit reforms
🌐 Why It Matters
- Macro & Liquidity Watch: RBI’s reverse repo is a vital tool for managing liquidity post-rate cuts.
- Investor Sentiment: Jio’s IPO delay and market reforms protests inject uncertainty.
- Security Boost: Operation Chakra‑V demonstrates enhanced cybercrime enforcement.
- Sectoral Shake-up: Banking stocks and industrial equities reflect immediate policy and reform ripple effects.
- Reliance Jio IPO Delayed
The much-anticipated Reliance Jio IPO has been postponed until after 2025, with the company citing a need to strengthen its digital infrastructure and expand its telecom footprint before seeking public investment. Despite the delay, Jio continues to dominate the market with nearly 488 million subscribers and is collaborating with Nvidia to bolster its AI ambitions. The stock price dropped ~1.8% in response to the news
- Market Snapshot & RBI Action
- India’s stock markets experienced a slight dip, with the Sensex closing around 83,536, down roughly 0.21%, and Nifty hovering near 25,500. The day’s movement reflected investor cautiousness around global trade tensions and domestic liquidity shifts .
- The Reserve Bank of India has launched a ₹1 trillion two‑day variable rate reverse repo auction aimed at mopping up excess liquidity following a recent policy rate cut. The RBI’s maneuver underscores its efforts to maintain liquidity within the policy corridor while ensuring effective transmission of the rate cut
Stocks in Focus
- State Bank of India (SBI) saw a decline of 0.24%, closing at ₹810.85, lagging its peers amid the broader weak market
- Top small‑to‑midcap movers include JP Power (on Adani deal expectations), Vodafone Idea (on relief hopes), RattanIndia Power (profit booking), PC Jeweller, and Alok Industries
- Ola Electric, Tata Steel, JSW Steel, and Bajel Projects were highlighted by India Infoline for key updates influencing trading sentiment
