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Welcome to The Morning Report, brought to you by Renil S. Varghese—your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.

Audio Credit: businessline

1. Equity derivatives plunge as RBI tightens lending norms

Trading activity in India’s equity derivatives market has declined sharply following the Reserve Bank of India’s tighter lending norms for proprietary trading, which took effect in July. On the NSE, average daily turnover in the derivatives segment fell 25 per cent in the last four trading sessions compared with the same period in June. Index futures turnover dropped 49 per cent, while index options premium turnover fell 45 per cent. Similar declines were recorded on the BSE. Market participants said higher funding costs and capital requirements have reduced trading activity. Shares of BSE and MCX also fell around 3 per cent on Tuesday.

2. Missile diplomacy: Indonesia signs pact to buy India’s BrahMos and Astra missiles

India and Indonesia have signed initial agreements for the purchase of BrahMos supersonic cruise missiles and Astra beyond-visual-range air-to-air missiles during Prime Minister Narendra Modi’s visit to Jakarta. The agreements signal intent to proceed with procurement, with contract details to be finalised later. Indonesia is expected to acquire two BrahMos missile batteries and would become the third foreign buyer after the Philippines and Vietnam. It would also be the first export customer for the Astra missile. The agreements expand bilateral defence cooperation and support India’s goal of increasing defence exports. Both countries also reaffirmed plans to deepen maritime and defence collaboration.

3. Monsoon set to cover entire country in 2-3 days as rains shifts north

The south-west monsoon is expected to cover the entire country within the next two to three days, with Rajasthan, Haryana and Punjab the remaining regions awaiting full coverage, according to the India Meteorological Department. The monsoon advanced across the rest of Gujarat and deeper into Rajasthan and Haryana on Tuesday. Heavy rainfall activity is shifting towards eastern and northern regions, including the hills of West Bengal and Sikkim. India’s seasonal rainfall deficit has narrowed to 20 per cent. A weakened low-pressure system is expected to bring more rain to north-west India before activity gradually shifts towards the Himalayan foothills and the north-east.

4. Sharp rise in general insurance complaints raises service quality concerns: RBI

The Reserve Bank of India has flagged a sharp rise in customer complaints in the general insurance sector, citing concerns over claims management, service quality and product communication. According to the RBI’s Financial Stability Report, reported grievances nearly tripled to 1.78 lakh in 2025-26 from 2021-22 levels. The RBI warned that unresolved complaints could weaken policyholder confidence and pose financial stability risks. In contrast, life insurance complaints declined from over 1.5 lakh to 1.2 lakh during the same period. The Insurance Ombudsman resolved 41,055 grievances in 2025-26, with 79 per cent decided in favour of policyholders. IRDAI has directed insurers to accelerate complaint resolution.

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Published on July 8, 2026

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