India Financial Daily, 22 May 2026

Research evidence excerpt

India Financial Daily, 22 May 2026

(May 22, Business Standard) FederalNippon BankLife India Asset Management 1,079284 (2.1)(2.2)

Satin Creditcare Network 218 (2.2)

Fino PB CEO Rishi Gupta seeks early retirement: Rishi Gupta, MD & CEO, has sought early . MahindraMCX India& Mahindra Fin Secs 3,323302 (2.3)(3.5)

Source: Bloomberg, Jefferies; Universe covers financials with

retirement, three months after his arrest under GST law provisions linked to an investigation mkt cap > US$200mn

involving business partners and not the banks own GST compliance. Interim CEO Ketan

Merchant’s tenure has been extended by up to 3 months, pending RBI approval. (May 21, BSE Exhibit 4 - Key events/ Mar'26 qtr. results to

watch out for

Calendar Events/resultsFiling) 22-May-2026 Foreign Exchange Reserves

25-May-2026 Pine Labs

28-May-2026 Industrial Production YoY

HSBC India PMI Mfg, Industrial Production YoY, BoP Current Account BalanceGovt to off load up to 8% in Central Bank: The govt is offloading up to 8% of its stake in Central 29-May-20261-Jun-20263-Jun-2026 GDP, GVA, GDP Financial Year Estimate, Fiscal Deficit YTD INR, Foreign Exchange Reserves HSBC India PMI Composite, HSBC India PMI Services

CPI YoY, Foreign Exchange ReservesBank of India at a floor price of Rs31. At the floor price, the govt can earn over Rs22.4bn. The 5-Jun-202612-Jun-202615-Jun-2026 RBI Repurchase Rate, Foreign Exchange Reserves Wholesale Prices YoY, Trade Balance, Exports YoY, Imports YoY, Unemployment Rate

19-Jun-2026 Foreign Exchange Reserves

22-Jun-2026 Eight Infrastructure Industriessale of entire 8% will bring down govt’s stake to 81.3%, which would require another 6.3% to be 23-Jun-2026 HSBC India PMI Composite, HSBC India PMI Mfg, HSBC India PMI Services

26-Jun-2026 Foreign Exchange Reserves