_Markets open today_
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📊 *ECONOMY & POLICY*
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🏦 *RBI tells Parliament crypto is a threat to economy*
RBI made its first-ever appearance before the Parliamentary Standing Committee on Finance and said virtual digital assets should not be legalised, citing China and Qatar’s outright bans as precedent.
The central bank’s continued opposition keeps India’s crypto framework in limbo — the 30% tax and 1% TDS regime stays, with no near-term regulatory clarity for exchanges or investors.
📎 _Read: NDTV Profit_
🧾 *Nearly 8 lakh new GST registrations added in H1*
Uttar Pradesh led fresh sign-ups with 2.54 lakh new registrations in six months, followed by Maharashtra and Gujarat, as GST 2.0 reforms and a lower e-invoicing threshold pulled more MSMEs into the formal tax net.
A widening formal tax base supports the government’s revenue trajectory and signals improving supply-chain compliance ahead of festive-season demand.
📎 _Read: The Hindu Business Line_
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🏢 *COMPANIES*
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📈 *June auto sales: Maruti dominant, Tata PV surges 69%*
Maruti Suzuki led with 2,00,390 total units sold; Mahindra posted its best-ever domestic SUV month at 60,393 units (+28% YoY); Tata Motors PV jumped 69% YoY to 63,083 units on record EV volumes (+183%).
Broad-based auto strength going into the monsoon signals resilient rural and urban demand — a positive read-through for auto-ancillary and financing stocks.
📎 _Read: Business Standard_
🏦 *Three C-suite exits in two days rattle private banks*
Bandhan Bank’s CFO and Axis Bank’s CFO both resigned within 48 hours of Kotak Mahindra Bank’s CEO confirming his departure — an unusual clustering of top banking exits.
Investors will watch succession planning closely; leadership uncertainty at three lenders simultaneously raises near-term governance and stock-specific volatility risk.
📎 _Read: NDTV Profit_
💻 *WhatsApp defends usernames feature amid govt scrutiny*
WhatsApp issued FAQs clarifying its upcoming username feature will be optional, non-searchable, and has reserved public-figure/celebrity names for legitimate owners only — after the Centre asked Meta to defer rollout pending consultations.
With 500mn+ Indian users, any regulatory friction with Meta over feature rollout is a governance signal worth tracking for India’s broader digital-platform oversight regime.
📎 _Read: The Hindu Business Line_
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🌍 *GLOBAL & WORLD*
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📉 *Tesla smashes Q2 delivery estimates, stock still falls*
Tesla delivered a record 480,126 vehicles in Q2 (+25% YoY, +34% QoQ), crushing the Street’s 406,024 consensus and marking its best-ever Q2 — yet shares fell as margin concerns and a high-profile short call overshadowed the beat.
A reminder that even blowout delivery numbers aren’t shielding EV majors from valuation scrutiny — relevant context for India’s own EV supply-chain and battery-component plays.
📎 _Read: NDTV Profit_
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_Compiled by InvestoScope · 03 Jul 2026_