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Deepan Bafna steps up as director at Citi India
MUMBAI: Citi India has tapped a familiar hand to steer one of its most dynamic businesses. Deepan Bafna has been elevated to director, taking the reins of the bank’s local currency credit trading desk in Mumbai.
In his new role, Bafna will oversee trading across investment-grade and high-yield credit bonds, along with key rates products such as government bonds and interest rate swaps. The brief is clear and unapologetically market-facing: generate absolute trading profits while navigating India’s fast-evolving credit landscape.
But this is not just about buying and selling bonds. Bafna will also lead Citi India’s structured credit financing efforts, spanning bonds, securities financing transactions, credit derivatives and loans. A key part of his mandate is to keep the product cupboard fresh, introducing new credit structures that deepen Citi’s onshore franchise and sharpen its competitive edge.
The promotion caps a steady rise at Citi, where Bafna joined as vice president in late 2022 and quickly became a key figure in local currency credit and financing. Before that, he spent over six years at HDFC Bank, managing proprietary credit books, trading government securities and overseeing corporate bond portfolios across the rating spectrum.
His career began in the insurance and asset management world, with fixed income roles at ICICI Lombard, before expanding into market making, trading and portfolio strategy. Along the way, Bafna has built a reputation for blending macro insight with hands-on trading instincts.
With India’s credit markets growing deeper and more complex, Citi’s choice signals a bet on experience, range and an appetite for innovation. For Bafna, it is a bigger seat at a faster table, where spreads, structures and split-second decisions set the pace.
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Hyundai India posts record February sales of 66,134 units
Domestic sales hit 52,407 (plus 9.8 per cent YoY) and exports 13,727 (plus 24.8 per cent YoY) in Feb 2026.
MUMBAI: Hyundai India just floored the accelerator because when February sales hit an all-time high, even the calendar wants to take a victory lap. Hyundai Motor India Limited (HMIL) reported its highest-ever February sales since inception, clocking 66,134 units in February 2026, a robust 12.6 per cent year-on-year growth. The figure comprises domestic sales of 52,407 units (up 9.8 per cent YoY) and exports of 13,727 units (up 24.8 per cent YoY), marking the strongest February performance for both total and domestic volumes in the company’s history.
HMIL MD & CEO Tarun Garg said, “We kicked-off 2026 on a high note achieving our highest-ever monthly sales in January and the momentum continues in February. With a total sales (domestic plus exports) of 66,134 units, the highest for any February in our history, we posted a robust growth of 12.6 per cent YoY. This includes domestic sales of 52,407 units, also the highest-ever February sales since inception.”
The results reflect HMIL’s strong product momentum, growing export footprint, and focus on connected technology and ownership experience as the company nears 30 years in India. As one of the country’s leading passenger vehicle makers, the February numbers underline sustained demand across segments and markets, with exports showing particularly sharp acceleration.
In a market where every month counts toward yearly targets, HMIL’s February surge isn’t just a number, it’s proof that when the road gets busy, Hyundai knows exactly how to keep the pedal down and the smiles wide.
