India news: Kotak to buy Deutsche Bank retail operations

The family of late Indian sailor, Rakesh Chauhan, is demanding an independent investigation into his death and the handling of his remains in Venezuela. They claim his vitals organs were removed without their consent. 

The 33-year-old Chauhan reportedly died of a cardiac arrest in Venezuela in May. His remains were repatriated to his family in the eastern state of Uttar Pradesh.

The Forward Seamen's Union of India (FSUI) raised several question in a post on X, tagging India's foreign ministry and shipping ministry. 

"Why are the vital organs removed from the body without informing the family or seeking their consent? Why was the family kept in the dark until they demanded and arranged a re-postmortem in India?" the union said. 

The FSUI claimed that the receipt for the mortal remains, incorrectly signed in Chauhan's wife's name, was forged. The vessel name in the employment agreement also did not match the vessel he was actually posted to, according to the union. 

"These discrepancies raise grave suspicions of foul play and a possible cover-up. What is being hidden?," it said.

In an earlier post on Tuesday, the union claimed that Chauhan's re-autopsy in India revealed that his brain, heart, lungs, kidneys, spleen, pancreas, stomach, intestines, thyroid, larynx, hyoid and trachea were all missing.

Indian-origin Americans and Indians living in the US on visas, are celebrating the Supreme Court's ruling scrapping US President Donald Trump's restrictions on birthright citizenship. 

"Today's ruling is a profound affirmation of who belongs in America," said Chetan Patel, Executive Director of Indian American Impact, an avdocacy group for Indian-origin Americans. 

"Indian and South Asian Immigrant families are among those most directly threatened by Trump's executive order — communities navigating long visa backlogs and uncertain immigration timelines where children are often born here long before their parents have a clear path to permanence," he said in a statement. 

Ami Bera, a doctor, Member of Congress and son of Indian immigrants, posted on X: "This Supreme Court got something right for once."

Similarly, Congressman Raja Krishnamoorthi welcomed the decision, sayinf "every child born in the United States is an American citizen." 

Several other American-Indian politicians, including US Representative Pramilla Jayapal celebrated the ruling. 

Millions of Indians live and work in the US for decades, starting families there. 

Trump's executive order limiting birthright citizenship led to growing anxieties that their children could be deported without citizenship claim and valid visa.

Indian Prime Minister Narendra Mod spoke with Iranian President Masoud Pezeshkian on the phone Wednesday, and reiterated the importance of freedom of navigation in the Strait of Hormuz. 

Modi spoke of India's position that all issues must be resolved through dialogue and diplomacy, the prime minister's office said on Tuesday evening.

"[We] welcomed the progress made in the negotiations and expressed hope that continued efforts will lead to lasting peace in the region." Modi said in a post on X. 

Pezeshkian has earlier invited Modi to the burial ceremonies for Iran's late Supreme Leader Ayatollah Ali Khamenei, scheduled for next week. 

News agency Press Trust of India reported that India is planning to send Bihar State Governor Ata Hasnain and Minister of State of External Affairs Pabitra Margherita to the ceremonies. 

India held the Indus Water Treaty (IWT) in abeyance in May 2025 after the Pahalgam attack, which was followed by days of conflict with historic rivals Pakistan. That left the 65-year-old water-sharing treaty hanging in balance.

The IWT's framework — negotiated over nine years and uniquely mediated by the World Bank — includes no provision for withdrawal. At the same time, it establishes a multi-tiered dispute resolution system that allows India and Pakistan to resolve disagreements and amend the treaty, but only with mutual consent.

The IWT also does not address the possibility of "abeyance" — India's chosen phrase.  So, while India hasn't officially quit the treaty, it's also not fully operating under its framework — creating a legal gray area.

India's leaders have repeatedly blamed Pakistan for failing to clamp down on cross border terrorism. Last year, Indian Prime Minister Narendra Modi had said "water and blood cannot flow together." New Delhi has not softened its stance on the treaty since. 

Meanwhile, Pakistan has denied allegations of supporting militants and accused India of weaponising the Indus river for political goals.

Bilawal Bhutto-Zardari, the chairman of the Pakistan Peoples Party, has issued a warning to New Delhi over the growing discourse on the Indus Water Treaty. 

"The Indus is not a bargaining chip. The Indus is not a weapon to be placed in India's hands. The Indus is a lifeline of Pakistan. And any attempt to turn a lifeline into a noose must be treated as a threat to the survival of our state," Bhutto-Zardari said at a seminar on the treaty in Islamabad. 

The seminar was meant to dicuss Pakistan's rights under the decades-old Indus Water Treaty which India has suspended since May 2025 after the the killing of 26 Indian tourists in Pahalgam, in India-administered Kashmir. India blamed Pakistani militants for the attack, a charge Islamabad denied. 

"This is the message that Pakistan must deliver to India," he said, adding "we want peace, but with dignity." 

"Pakistan will defend its water, its people, its treaty, its sovereignty and its future," he said.

Also at the seminar, Pakistan's Deputy Prime Minister Ishaq Dar rejected India's decision to revoke the treaty adding that it "remains valid, binding and operating."

He said that shared waters must "never be weaponized." 

The price of commercial LPG cylinders have dropped starting July 1, bringing some relief to India's hospitality businesses, commercial users of gas and street vendors.

The price of the 19 kg commercial LPG cylinder was lowered by Rs 183.5 ($1.95; €1.70) from Wednesday, bringing it to Rs 2,930 in Delhi, the Press Trust of India reported. Gas and fuel prices differ from states to cities due to transportation costs and state-level taxes.

Commercial LPG rates hit an all-time high of Rs 3,113 per 19-kg cylinder last month as the West Asia crisis fueled a spike in crude oil prices. 
 
The cost of Aviation Turbine Fuel (ATF) was also cut by Rs 5 per liter to Rs 110 in Delhi, on softer global oil prices.

Jet fuel rates had more than doubled in April due to disruptions from the Iran war. Several Indian airlines increased the rate of air tickets and levied a fuel surcharge to make up for the higher oil prices.

Kotak Mahindra Bank has agreed to acquire the retail, private banking, and wealth management businesses in India of Germany's largest bank, in a move to grow in country's competitive environment. 

The deal, announced on Tuesday, is for an undisclosed amount. The portfolios include approximately Rs 29,000 crore ($3.1 billion; €2.7 billion) in loans, Rs 16,000 crore in deposits and Rs 10,500 crore of assets under management.

Kotak CEO Ashok Vaswani described the deal as a "strong strategic fit."

Deutsche Bank serves around 150,000 customers in India. Its 1,000 employees will be moved to Kotak, which is India's fourth-largest banker by market capitalization. 

"This transaction marks an important step in sharpening Deutsche Bank’s portfolio and focusing on areas where we have scale, strength, and the ability to deliver sustained returns," Kaushik Shaparia, CEO, Deutsche Bank Group India and Emerging Asia said in a statement.

"India’s growing integration into the global economy reinforces its position as a core market for Deutsche Bank," he said, adding that Deutsche Bank will now focus on global ultra-high net worth clients, including non-resident Indians.

Hello! and welcome to DW's India news blog. 

This is Mahima Kapoor from the New Delhi Bureau, bringing you our daily round up of all the biggest headlines and events that have got India talking. 

It's a stuffy morning in the national capital where we're hoping for some rain to relieve us from the summer heat. India's financial capital, Mumbai, faced relentless rainfall on Tuesday which has left some low lying areas flooded.

Speaking of finance, India's stock market is on the rebound after two straight days of fall. One of the the stocks in green is Kotak Mahindra Bank which has announced an agreement to buy Deutsche Bank's retail banking, private banking and wealth management portfolios in India.

The possibility of rain is not the only relief for Indians today. Government-owned fuel retailers have announced price cuts for commercial liquified petroleum gas cylinders and jet fuel amid lower global oil prices. One private fuel retailer has even slashed petrol and diesel prices but we have not seen that translate to larger public retailers yet. 

On the international front, there is growing discource and anger among Pakistani politicians about India's continued abeyance of the Indus Water Treaty. 

Tune in for all of this and more.