A Securities and Exchange Board of India working group held its first meeting focused on reviving the country's stock lending and borrowing (SLB) scheme, with custodians and digitization identified as the two primary levers. The discussions centered on drawing institutional participants into the SLB ecosystem via custodian infrastructure, which has historically remained underutilized in this segment. India's SLB mechanism has long struggled with thin volumes relative to the scale of the equity market, limiting its usefulness for hedging, short-selling, and portfolio yield enhancement. Routing participation through custodians could lower operational friction for foreign portfolio investors and domestic institutions that already hold securities in custodial accounts, effectively converting latent inventory into lendable supply. Digitization of the lending process would further reduce settlement risk and documentation burden. The working group's mandate and composition suggest Sebi is treating SLB as a structural market-development priority rather than an incremental fix. Watch for draft recommendations on custodian eligibility rules, fee frameworks, and digital infrastructure mandates.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
