BANKING

Sebi has turned down settlement requests from Anil Ambani, his family, and Rana Kapoor. The case involves investments between Reliance Nippon and Yes Bank. Investigations revealed Ambani influenced investment decisions. Sebi might settle with Nippon Life India Asset Management and some officials. Legal action will proceed against Ambani and others. The Enforcement Directorate is also investigating the matter.

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BANKING

Bank of Baroda's bob इ Pay app now offers international UPI services, enabling cross-border payments for Indian and NRI customers. Features include UPI Global Acceptance in eight countries, real-time remittances from Singapore, and UPI access for NRIs with NRE/NRO accounts. The app facilitates convenient and flexible digital transactions with a limit of Rs. 1,00,000 per transaction.

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BANKING

Lenders are contemplating waiving administrative charges to provide immediate relief to small and medium enterprises impacted by steep US tariffs on India, following government encouragement. While broader measures like interest rate discounts are account-specific, banks will consider forgoing penal interest on late payments. The government is also developing a comprehensive plan to support affected exporters.

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BANKING

State Bank of India has ceased processing trade and foreign currency transactions for Nayara Energy due to potential US sanctions following recent tariff increases. This decision aims to prevent SBI from facing US and European Union restrictions. The move follows EU sanctions restricting Russian fuel imports and a price cap on Russian crude, impacting banks with international operations.

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BANKING

IndusInd Bank launched 'Indus StartUp Banking' on August 11, 2025, a comprehensive program to support early-stage startups in India. The initiative offers banking facilities, credit, and beyond-banking services, including current accounts, API access, and premium lounge access. Startups under 10 years old can apply, benefiting from customized solutions and strategic partnerships.

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BANKING

The Reserve Bank of India has clarified that individual banks have the autonomy to decide on the minimum average balance (MAB) requirements for savings accounts. While some private banks like ICICI Bank are increasing MAB, several state-owned banks, including SBI, PNB, Canara Bank, and Indian Bank, are eliminating penalties for not maintaining minimum balances to promote financial inclusion.

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Capital expenditure by large central public sector enterprises moderated in July, declining 23% year on year to ₹53,406 crore, attributed partly to an unfavorable base effect. However, spending between April and July rose 2.5% to ₹2.21 lakh crore, driven by a strong June quarter. The Railway Board and NHAI remained the top spenders during this period.

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BANKING

IndusInd Bank, recovering from past financial irregularities, focuses on retail growth and ethical governance. The bank aims to increase retail liabilities, expand secured retail and MSME assets, and be selective in corporate lending. Following a year of internal review and leadership changes, the bank is reinforcing transparency and accountability for sustainable growth.

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BANKING

ICICI Bank boasts the lowest employee attrition rate among major private lenders for the past three years, reflecting strong employee retention. The bank's attrition rate fell to 18% in FY25, a significant drop from 24.5% in FY24.

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BANKING

Punjab National Bank aims to improve its financial health by selling approximately 100 NPA accounts to ARCs, expecting a recovery rate of 40-50%. PNB is also targeting a total business of Rs 30 lakh crore by the end of the current fiscal year through strategic credit and deposit growth, with a focus on profitability and corporate lending.

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The US has shifted its AI strategy towards rapid innovation, prioritizing economic and geopolitical dominance over ethical concerns. This move, driven by Executive Orders, sparks debate about potential societal risks and regulatory gaps. As the US accelerates, India has an opportunity to champion a balanced approach, emphasizing ethical innovation and inclusive governance, potentially leading a 'third way' in AI development.

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BANKING

ICICI Bank has significantly increased its minimum balance requirements for savings accounts, particularly in metro and urban areas, signaling a strategic shift towards attracting affluent customers.

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BANKING

AU Small Finance Bank is set to become a universal bank, pending promoter Sanjay Agarwal's transfer of his 22% stake to a holding company within 18 months. This transition, a condition for the license, allows Agarwal to explore other financial services. The bank aims to reduce geographic concentration and focus on retail loans, leveraging its strengths in the NBFC space.

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BANKING

AU Small Finance Bank is set to become a universal bank, pending promoter Sanjay Agarwal's transfer of his 22% stake to a holding company within 18 months. This transition, a condition for the license, allows Agarwal to explore other financial services. The bank aims to reduce geographic concentration and focus on retail loans, leveraging its strengths in the NBFC space.

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BANKING

Public sector banks in India, led by SBI, achieved a record collective profit of Rs 44,218 crore in the first quarter, marking an 11% year-on-year increase. SBI contributed significantly, accounting for 43% of the total earnings. While most PSBs saw profit growth, PNB experienced a decline, contrasting with Indian Overseas Bank's substantial 76% profit surge.

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BANKING

Weaver Services, backed by Gaja Capital, is set to acquire a 75% stake in Centrum Housing Finance for ₹600 crore. This deal values the mortgage lender at ₹800 crore, driven by Centrum's need to focus on its small finance bank as per regulatory requirements. The acquisition reflects continued investor interest in India's affordable housing finance sector, despite recent valuation adjustments.

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BANKING

These proposals are aimed at standardising the claims processes across the banking sector, maintaining uniformity and compensating the customer in case of inconvenience. The final guidelines are expected to be enforced by January 1, 2026.

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BANKING

The Reserve Bank of India has granted AU Small Finance Bank a universal banking license, the first in a decade, potentially paving the way for other small finance banks to transition. AU Bank met the RBI's stringent criteria, including minimum net worth, capital adequacy, and asset quality.

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BANKING

Reserve Bank of India has approved AU Small Finance Bank's transition to a Universal Bank. The approval is 'in-principle'. AUSFB reported a rise in first quarter net profit. The net profit is Rs 581 crore. It was Rs 503 crore last year. The bank's net interest margin dipped to 5.4%. This was due to asset quality stress.

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BANKING

Governor Malhotra attributes circumspect mortgage demand to careful borrower decisions and the long-term nature of housing loans, despite a policy rate cut. While mortgage growth has slowed to 9.6%, he emphasizes that overall housing credit remains strong at 14%. Analysts cite cautious lending, softening demand, and increased selectivity as factors contributing to the broader credit moderation.

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BANKING

India's retail credit market is booming. Crisil Intelligence reports this growth creates chances for Non-Banking Financial Companies. They can attract more investors. Retail credit may grow 14-16% by FY28. Housing, vehicle, and personal loans are driving this. India's credit penetration is lower than other countries. Financial awareness and inclusion efforts will boost credit growth.

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BANKING

The government has directed public sector banks to create a unified digital portal to streamline startup loan applications, sanctions, and information-sharing. Expected by October, the proposed startup hub portal will feature a single application form accessible to all PSBs.

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BANKING

The Reserve Bank of India has approved Rajiv Anand's appointment as MD & CEO of IndusInd Bank, effective August 25, for a three-year term. Anand, formerly Deputy Managing Director at Axis Bank, brings over 35 years of financial services experience. His appointment follows Sumant Khatpalia's exit due to an accounting discrepancy.

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BANKING

IndusInd Bank announced on Monday the approval of Rajiv Anand's appointment as the chief executive officer. Anand's tenure will span three years, commencing on August 25, 2025, and concluding on August 24, 2028. This decision signifies a key leadership transition for the bank, setting the stage for its future direction.

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BANKING

Niva Bupa aims for high single-digit premium hikes to counter medical inflation and portfolio aging, with a 7% increase already implemented on one product in Q1. Despite a rising loss ratio and expense ratio near the regulatory limit, the company targets 5-10% faster retail growth than the industry.

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BANKING

Indian banks are facing challenges. CASA ratios of top lenders have decreased. This decline affects their net interest margins. HDFC Bank and IndusInd Bank experienced significant drops. Kotak Mahindra Bank saw the sharpest fall. Banks are now relying on costlier funding sources. Some banks are cutting savings account interest rates. This shift impacts core profitability for Indian banks.

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BANKING

Many Indians who purchased Dubai properties using international credit cards are now facing tax and enforcement issues. These transactions, intended for current account expenses, are being flagged as violations since property purchases require banking channels. Buyers are now seeking ways to rectify the situation, including using the Liberalised Remittance Scheme and requesting refunds to avoid penalties.

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BANKING

Nippon Life India Asset Management Ltd. expands financial inclusion by opening a branch in Leh, becoming the first asset management company with a physical presence in the high-altitude region.

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BANKING

Punjab National Bank is setting its sights on an ambitious Rs 30 lakh crore in total business by the fiscal year's end. With a noteworthy 11.6 per cent growth in total business reported for Q1, the bank is optimistic about achieving its goals, MD Chandra said.

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BANKING

An SBI report indicates that bank credit growth is expected to remain subdued as corporations increasingly turn to alternative funding sources due to the current low-interest rate environment. This trend is evident in the declining share of bank credit in total resource flow, projected to fall to 22% by Q2 FY26. While overall credit growth stands at 9.

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BANKING

The Indian government anticipates inviting financial bids for IDBI Bank's strategic sale in the third quarter of FY26, aiming to finalize the winning bidder by fiscal year-end. Due diligence is complete, and consultations with interested parties are concluded. The government and LIC will jointly offload a 60.72% stake, potentially earning the government over ₹29,550 crore from its share.

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BANKING

India Post Payments Bank has launched a nationwide Aadhaar-based face authentication for customer transactions, enhancing security and convenience, especially for elderly and differently-abled individuals. This feature, developed under UIDAI, allows banking transactions via facial recognition, eliminating the need for fingerprints or OTPs. It ensures financial inclusion by addressing limitations in biometric verification and enabling safe banking during health emergencies.

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BANKING

The dynamics of Indian banking just saw an unfamiliar development with car loans outpacing home loans in the first quarter of FY26. According to the Reserve Bank of India, banks have expanded their loan portfolios considerably, but the growth rate for home loans has decelerated, giving way to a surge in auto loans.

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BANKING

Jane Street, a US-based trading firm, is reportedly not cooperating with India's Income Tax probe, with key servers and account books located abroad. The company has minimal presence in India, further hampering the investigation. SEBI previously accused Jane Street of market manipulation and ordered a ₹4,843 crore deposit. Trading resumed after payment, but restrictions on fraudulent practices remain in place.

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BANKING

RBI data reveals a slowdown in bank lending across sectors in June 2025, with services and agriculture experiencing a more pronounced deceleration compared to retail and industry. Non-food bank credit grew by 10.2%, a significant drop from the previous year's 13.8%. While some industries like engineering and construction saw accelerated growth, personal loans also experienced moderation.

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BANKING

The Reserve Bank of India is expected to maintain its stance on liquidity management. It will likely avoid reintroducing fixed-rate lending to banks. Banks have requested this facility to manage their funding needs better. The RBI prefers variable rate operations. A revised liquidity management framework may be unveiled on August 6.

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BANKING

The bank has engaged Navi Mumbai-based Special Situation Advisors India to find a buyer for 67 large corporate accounts within the next four months. These accounts include Videocon Industries, Frost International, Rotomac Global, Lanco Infratech and ABG Shipyard aggregating to a total outstanding exposure of more than Rs 12,224 crore for the bank, documents accessed by ET showed.

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BANKING

Punjab National Bank aims to boost business loan growth by focusing on infrastructure, smart metering, and renewable energy projects, according to CEO Ashok Chandra. Despite overall domestic loan growth of 9.6%, business loans only grew by 6.9% in the first quarter. PNB reported a net profit of 16.75 billion rupees, impacted by a one-time tax charge.

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BANKING

Crisil Ratings anticipates that Indian microlenders will likely remain unprofitable until the fiscal year's end, citing challenges from state ordinances in Karnataka and Tamil Nadu that could impede sector recovery. These states constitute a significant portion of the MFI portfolio. Despite industry efforts to implement safeguards, legacy assets continue to pressure asset quality.

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BANKING

The Reserve Bank of India has cautioned banks and NBFCs against compromising internal controls and regulatory compliance in their pursuit of rapid expansion. RBI Deputy Governor Swaminathan J emphasized that some lenders are prioritizing short-term gains over sound practices, leading to increased supervisory interventions. He urged financial institutions to uphold ethical standards and implement adequate safeguards for digital tools.

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BANKING

The Department of Financial Services (DFS) has urged banks to review penal charges for not maintaining Minimum Average Balance (MAB). This directive, as stated by MoS for finance Pankaj Chaudhary, prioritizes providing financial ease to customers, particularly those residing in semi-urban and rural regions. The aim is to alleviate the burden of these charges on a wider customer base.

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BANKING

Reserve Bank of India (RBI) sets new rules for investments. These rules limit how much banks and NBFCs can invest in Alternative Investment Funds. A single entity can only contribute up to 10 percent of an AIF scheme. All regulated entities together cannot exceed 20 percent. RBI may exempt certain AIFs from these rules after consulting with the government.

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BANKING

Shapoorji Pallonji Group secured a crucial three-year extension from the Reserve Bank of India for its finance unit, Sterling Investment Corp. This waiver averts a potential interest rate hike of 200 basis points on its $3.4 billion private credit deal. The extension provides more time to meet capital adequacy norms, preventing a possible default.

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BANKING

HDFC Bank raised its LCR by 6 percentage points to 124%, Yes Bank by 10 percentage points to 135%, while Canara Bank saw the largest increase, with its LCR rising to 144% from 125% in Q4FY25. On average, LCR rose by approximately 6.5 percentage points during the June quarter of FY26, showed an analysis of the earnings statements.

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BANKING

Payment banks are urging the RBI to reduce the statutory liquidity ratio (SLR) by at least 10% to invest in higher-yielding instruments and boost margins. They're also seeking permission to disburse loans and accept deposits up to ₹5 lakh. With previous requests unanswered, they've requested a meeting with the RBI governor to discuss these issues.

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BANKING

Indian Bank's board has approved raising Rs 5,000 crore this fiscal year, though immediate fundraising isn't anticipated due to a strong 17.80% capital adequacy ratio. The bank is developing 'IND-UPI,' its own UPI application, to save approximately Rs 150 crore annually in transaction fees.

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BANKING

Savings deposit rates in some public sector banks are at a historic low since deregulation in 2011, according to the RBI. While small savings schemes remain unchanged, banks have adjusted lending rates downward following repo rate cuts. Consequently, lending and deposit rates have declined, with public sector banks showing a greater decrease in lending rates compared to private sector banks.

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BANKING

Poonawalla Fincorp aims for over 40% AUM growth, fueled by new product lines like gold loans, after a robust 53% growth in Q1FY26. The company will expand its gold loan business to 400 branches by year-end and diversify its offerings. A Rs 1,500 crore equity infusion will bolster the company's capital base and support future expansion.

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BANKING

Kotak Mahindra Bank's consolidated net profit remained almost flat at ₹4,472 crore in the June quarter, impacted by increased provisions primarily related to microfinance. The bank experienced a rise in credit costs and a contraction in net interest margins to 4.65%. Asset quality also saw a slight deterioration, with the gross non-performing asset ratio increasing to 1.48%.

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BANKING

RBI Governor Sanjay Malhotra expressed concerns about granting banking licenses to conglomerates due to potential conflicts of interest involving depositors' funds. He emphasized that ensuring price stability remains the central bank's primary goal. Malhotra clarified that there are no current proposals to allow corporate entities to obtain banking licenses, whether through NBFCs or as individual companies.

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BANKING

"We have been witnessing record activity among brokers and other distribution intermediaries," said Satyajit Tripathy, member (distribution), IRDAI, at an Insurance Brokers Association of India event. "While this is fine by all means, I must add a word of caution that with increased growth being seen, we need not be adopting what we call as sharp practices to increase valuation, get listed, and to do business in a way, which may in the long run prove detrimental to the whole ecosystem."

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BANKING

Bank credit expansion slowed in July despite RBI's rate cuts, growing at 9.8%, lower than the previous year and deposit growth. Retail loan growth has been particularly affected since November 2023 due to regulatory restrictions. A recent HSBC report attributes the slowdown to the real sector's challenges, impacting investment and personal loan demand.

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BANKING

Zubin Mody, IndusInd Bank's Chief Human Resources Officer, has resigned after two decades with the company. His resignation, submitted on July 25, 2025, will be effective from October 24, 2025. Mody expressed his desire to pursue new opportunities and thanked the board, colleagues, and stakeholders for their support, assuring a smooth transition.

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BANKING

The Enforcement Directorate (ED) has filed a chargesheet against former UCO Bank CMD Subodh Kumar Goel, his family, and associates in connection with a Rs 6,200 crore loan fraud case involving Concast Steel & Power Ltd. Goel's properties worth Rs 106 crore have been attached, and he is accused of receiving illegal gratifications for sanctioning loans that later became NPAs.

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BANKING

RBI data reveals a surge in liquid demand deposits and currency with the public, indicating increased liquidity in the banking system and real economy. This rise is attributed to policy measures like liquidity easing, a pickup in rural activity, and higher disposable incomes from tax benefits.

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BANKING

Sanjay Nambiar, Yes Bank's group general counsel, has resigned after 15 years, amidst an Enforcement Directorate investigation into loan fraud during his tenure. The probe focuses on loans worth ₹3,000 crore allegedly diverted to shell firms linked to Anil Ambani's group. The ED is also scrutinizing Yes Bank's dealings with ADAG entities and Reliance Mutual Fund's investment in AT-1 bonds.

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BANKING

Indian banks will likely be cautious at the Reserve Bank of India's reverse repo auction. A recent cash crunch forced banks to borrow overnight at high rates. Banks had earlier parked Rupees Two Lakh Crore at the seven-day variable rate reverse repo auction. Now, lenders may re-evaluate parking funds in the seven-day VRRR.

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BANKING

IRDAI has proposed a framework mandating an internal insurance ombudsman scheme for insurance companies to address claim-related complaints up to Rs 50 lakh. This independent review mechanism aims to improve grievance handling and boost consumer confidence. Applicable to insurers with over three years of operation, the ombudsman will report directly to the board.

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BANKING

Banks rushed to borrow from the RBI's VRR auction as overnight money market rates exceeded the policy repo rate. This spike, driven by GST outflows and previous VRRR actions, led to banks utilizing the MSF. While the VRR auction provided some relief, overnight rates remained elevated above the SDF rate, highlighting liquidity pressures.

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The Appellate Tribunal has reversed a decision regarding the Chanda Kochhar case. It has permitted the seizure of properties linked to Chanda Kochhar, Deepak Kochhar, and Venugopal Dhoot. The Enforcement Directorate's appeal was upheld, criticizing the Adjudicating Authority's previous ruling. The tribunal highlighted ignored evidence and the role of Deepak Kochhar in NuPower Renewables.

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BANKING

State-run banks plan to disinvest in their insurance subsidiaries. This follows the Centre's approval of 100% foreign investment in the insurance sector. Banks like State Bank of India, Canara Bank, and Punjab National Bank may pursue IPOs and stake sales. The government is reviewing progress on unlocking value from bank subsidiaries.

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BANKING

Chanda Kochhar, former ICICI Bank CEO, has been found guilty of accepting a Rs 64 crore bribe for approving a Rs 300 crore loan to Videocon. The appellate tribunal confirmed the 'quid pro quo' arrangement, highlighting that the funds were routed through her husband's company.

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BANKING

Private banks in India are facing increased competition in the home loan market from public sector banks and housing finance companies, which are offering lower interest rates. This has led to shrinking margins and slower growth for private lenders like HDFC Bank, ICICI Bank, and Axis Bank, as they struggle to match the aggressive pricing strategies of their competitors.

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BANKING

Life Insurance Corporation of India (LIC) has partnered with the Ministry of Rural Development to promote its Bima Sakhi Yojana in rural areas. The MoU, signed at the 'Anubhuti' conclave in Goa, aims to empower women through insurance distribution. Bima Sakhi Yojana offers a performance-based agency career for women, providing stipends and benefits similar to LIC agents.

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BANKING

As the banking landscape evolves post-merger, the focus remains on balancing growth while ensuring stability within the financial system. The coming months will be crucial in determining how HDFC Bank navigates these challenges and capitalises on emerging opportunities in the market.​​

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BANKING

Indian banks face challenges in attracting large corporations back to traditional lending. Companies are increasingly favouring capital markets for funding. Bond and equity markets offer competitive rates. HDFC Bank and ICICI Bank have reported slower corporate loan growth.

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BANKING

India's ₹50,000-crore reinsurance sector is set for disruption with the entry of two new domestic players—Jio-Allianz, a joint venture between Jio Financial and Allianz, and Valueattics Re, backed by Fairfax's Prem Watsa and Oben Ventures.

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BANKING

The Income Tax Department is scrutinising over 20 insurance firms—around 5–6 life insurers and 15 general insurers—for potential breaches of Expense of Management (EoM) norms in the past two fiscal years. No notices have been issued yet, but companies may face tax implications if unable to justify excess spending. The probe follows IRDAI’s revised expense regulations issued in April 2023.

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BANKING

Indian Overseas Bank is confident about sustaining its financial performance, aiming to maintain a net profit exceeding Rs 1,000 crore in upcoming quarters, driven by consistent growth. The bank reported a 76% surge in net profit for the April-June 2025 quarter, reaching Rs 1,111 crore.

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BANKING

The Indian Banks' Association (IBA) has urged banks to expedite the implementation of SWIFT ISO 20022 norms to avoid cross-border payment issues. IBA Chief Executive Atul Kumar Goel emphasized the importance of starting migration by August 2025. Banks risk message rejections and customer impact if they delay, as the coexistence period ends November 2025.

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BANKING

German insurer Allianz has entered a 50:50 reinsurance joint venture with Jio Financial Services, part of Reliance Group, to expand in India’s insurance market. The two firms signed a non-binding agreement covering both general and life insurance.

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BANKING

The government is pushing public sector banks to increase lending to startups, encouraging collaboration with educational institutions and incubation centers. This initiative aims to establish formal banking relationships and provide crucial credit support. Banks are exploring tie-ups with incubators and considering a separate risk profiling framework to facilitate faster loan sanctions for startups, fostering growth within the Indian ecosystem.

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BANKING

Gambhir, 52, currently serves as group executive-treasury, markets and wholesale banking products at Axis Bank, a role he has held since May 2020. He brings over three decades of experience in India's financial sector, having held senior leadership positions in both domestic and global banking and financial services firms. Prior to joining Axis Bank, Gambhir was managing director and head of fixed income at Nomura India.

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BANKING

RBI Deputy Governor Swaminathan J urged Urban Cooperative Banks (UCBs) to prioritize governance, risk management, and secure technology adoption. He emphasized their unique community role and the importance of maintaining depositor trust. The National Urban Cooperative Finance and Development Corporation Ltd. (NUCFDC) aims to support UCBs, especially smaller ones, with technology, services, and financial assistance.

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Laraware Pvt Ltd, under Anvesh Tiwari's leadership, has launched India's first AI-powered fintech platform, Nxtbanking, poised to transform digital financial services. This innovative platform enables instant deployment of intelligent financial services with robust compliance and security. Nxtbanking offers pre-integrated APIs and an AI compliance engine, streamlining processes from onboarding to fraud prevention.

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Axis Bank has announced the appointment of Neeraj Gambhir as an executive director, effective August 4, 2025. Gambhir, currently Group Executive – Treasury, Markets and Wholesale banking products, brings over 30 years of experience in the financial sector. He has held leadership positions at Nomura, Lehman Brothers, and ICICI Bank, demonstrating his extensive expertise.

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Insurtech funding in India is poised to surpass $1 billion in the next year, following a period of moderated investment. A recent report highlights a decline in insurance penetration below 4%, driven by reduced life insurance uptake, signaling a significant protection gap. Regulatory initiatives like NHCX and Bima Sugam are expected to foster digital innovation in the sector.

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Taipei Fubon Bank and CTBC Bank from Taiwan are preparing to establish branches in India, specifically within Gujarat's GIFT City. This initiative, announced by the Republic of China (Taiwan) in India, aims to bolster cross-border trade and financial connections between the two nations, signaling India's welcoming stance towards Taiwanese investment.

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Sashidhar Jagdishan of HDFC Bank became India's highest-paid banker. His salary exceeded ₹12 crore. Other top bankers like Amitabh Chaudhry, Ashok Vaswani, V Vaidyanathan also earned significant amounts. They received compensation through salary and stock options. RBI closely monitors CEO remuneration. Compensation saw modest increases. Sandeep Bakhshi's FY25 details are awaited.

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Sumitomo Mitsui Banking Corp (SMBC) has applied to the RBI to acquire up to a 25% stake in Yes Bank, exceeding the 20% outlined in their initial agreement in May. This application allows SMBC the flexibility to increase its ownership by acquiring shares from other investors, pending regulatory approval. News outlets reported SMBC's interest in an additional investment of $1.

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Despite market gains in June, fund managers adopted a cautious approach, selectively investing in financial institutions like L&T Finance and AU Small Finance Bank. They also showed interest in domestic pharma companies such as Laurus Labs and Divi’s Laboratories. Furthermore, AMCs actively invested in companies like Asian Paints and Infosys, indicating measured optimism across diverse sectors.

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The government will decide on increasing foreign investment in public sector banks after the Reserve Bank of India reviews voting rights. Current rules limit foreign investment to 20%. The RBI is reviewing shareholding limits for private banks too. India allows 74% foreign investment in private banks. The government hopes for a strategic sale in IDBI Bank by October.

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Sumitomo Mitsui Financial Group is contemplating an additional $1.1 billion investment in Yes Bank, potentially increasing its stake to 25%. This follows a previous $1.6 billion investment made in May. The move involves acquiring shares from Carlyle Group and purchasing convertible bonds, signaling SMFG's confidence in Yes Bank's turnaround after its 2020 rescue.

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The Insurance Regulatory and Development Authority of India has established a committee. This is to assess license applications from two general insurers. The move follows a four-month vacancy in the chairman's position. The panel will evaluate proposals from M Pallonji Group and Kiwi General Insurance. The committee includes members from life, non-life, and actuary departments.

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Bitcoin hits a new high, and Indian platforms introduce crypto options. This follows the launch of crypto futures. Traders are drawn to leverage and potential tax benefits. The crypto rally is boosted by hopes of US regulation. Volumes are still low compared to futures. Experts advise caution, highlighting the high-risk nature of crypto derivatives.

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Karnataka Bank has named Raghavendra Srinivas Bhat as the interim Managing Director and CEO. This follows the resignation of Srikrishnan Hari Hara Sarma, who stepped down citing personal reasons. Bhat, previously the Chief Operating Officer, will hold the position for three months. Sarma's departure had earlier impacted the bank's stock performance.

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The Reserve Bank of India's new directive may boost priority sector lending. Banks can now offer loans up to ₹10 lakh against gold. This move is expected to benefit the agriculture and micro-enterprise sectors. Farmers and small business owners may find it easier to access credit. The change clarifies the classification of gold-backed loans.

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Public sector banks in India are exploring more joint ventures. This is to improve business and operations. A committee is reviewing capital needs for these ventures. They will scale successful projects like Re-KYC. Banks are also working on a common collection firm for smaller loans. Doorstep banking and cloud infrastructure are also in progress.

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Indian Bank has sanctioned Rs 1,011 crore to over 3,000 women in Tamil Nadu, supporting Self Help Groups. The initiative aims to reduce reliance on informal credit sources and promote financial inclusion.

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Following the Ahmedabad Air India plane tragedy, insurance firms are processing claims. These claims include travel, personal accident, and life insurance. ICICI Lombard and Bajaj Allianz are handling claims related to the accident. IRDAI directed insurers to expedite settlements. Some companies have already settled claims quickly. Insurers are working to support the affected families during this difficult time.

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IIFL Home Finance has secured USD 100 million from the Asian Infrastructure Investment Bank (AIIB) to boost affordable housing finance for economically weaker sections and lower-income groups. This partnership will promote green building standards and support sustainable urban development in line with India's climate goals. The investment aligns with the Pradhan Mantri Awas Yojana Urban (PMAY-U 2.0).

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Public sector banks now lead in home loan financing. They increased their market share significantly in the last four years. Data shows their share rose to 43% in FY25. Private banks saw a decrease in their share during this period. Competitive rates and government initiatives are driving this growth. Overall credit growth of PSU banks has surpassed private banks.

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India's retail credit growth anticipates a boost from increased borrowing, particularly in housing loans. Affordable housing mortgages present a significant lending opportunity. Lenders must scale operations across states for success. Mortgage penetration is currently low compared to other markets. A rise in mortgage adoption could unlock a substantial market by fiscal year 2035.

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Canara Bank has withdrawn its order classifying Reliance Communications' loan account, promoted by Anil Ambani, as fraudulent, leading the Bombay High Court to dispose of the case. This action followed Ambani's petition challenging the classification. Separately, SBI has also classified Reliance Communications' loan account as fraudulent, which Anil Ambani has challenged in court.

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Finance Minister Nirmala Sitharaman urged NBFCs to adopt fair and empathetic loan recovery practices, aligning with RBI guidelines, especially for small loans, emphasizing customer dignity. She also suggested that NBFCs could partner with banks to enhance priority sector lending, addressing the issue of unutilized funds and ensuring timely credit delivery to intended beneficiaries, seeking RBI guidance on this collaboration.

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Indian banks are experiencing increased deposit growth, yet face a likely decline in net interest margins (NIM) for Q1 FY26, according to Phillip Capital. Muted Net Interest Income (NII) growth is expected across the sector due to weak credit expansion, impacting both private and public sector banks. Profitability, however, may see modest growth supported by reduced credit costs.

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Kotak Mahindra Bank aims for significant asset growth, targeting 1.5 to 2 times India's nominal GDP, despite challenges like RBI's tech embargo and potential interest rate declines. The bank's FY25 saw strong performance in its Corporate and Tractor Finance divisions, with total assets reaching Rs 8.79 lakh crore and a customer base exceeding 5.3 crores.

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Banking services in Madhya Pradesh faced disruption as approximately 40,000 employees from public sector and regional rural banks went on strike across 8,700 branches. The strike, called by trade unions, impacted deposit and withdrawal operations, cheque clearances, and government treasury work. Employees are protesting against privatization and demanding recruitment to fill vacancies.

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NBFC's education loan growth is projected to slow significantly due to policy changes in the US and Canada, impacting disbursements. While US loan share decreases, other countries like the UK and Germany are gaining traction. Despite global shifts, NBFCs maintain strong asset quality, exploring domestic loans and skill development funding.

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The NBFC and insurance segments are expected to perform better in the second half of FY26, supported by a friendlier regulatory environment and continued growth push from both regulators and the government, according to a report by Emkay Research.

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BANKING

Indian banks experienced muted credit growth in the June quarter, with private lenders significantly lagging behind the previous year's pace. This slowdown is attributed to corporates increasingly turning to capital markets for funding, leading to a surge in resource mobilization. While PSU banks performed better due to aggressive loan pricing, overall loan growth remained weak across the banking sector.

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The CCI has approved 360 ONE group's acquisition of specific UBS AG businesses, including portfolio management, stock broking, and financial product distribution. Additionally, it clears UBS AG's subscription to 360 ONE WAM warrants, representing a 4.95% stake. This collaboration allows UBS to transfer its onshore wealth management business in India to 360 ONE.

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The Department of Financial Services (DFS) has refuted claims of ordering banks to close inactive PM Jan Dhan Yojana accounts. Instead, a nationwide campaign has been initiated to promote Jan Dhan Yojana accounts and other welfare schemes. Banks will also conduct re-KYC for due accounts, with DFS actively monitoring inoperative accounts and encouraging banks to reactivate them.

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The National Housing Bank (NHB) has mandated that housing finance companies (HFCs) must pay interest to borrowers on advance EMI payments held in sundry accounts, aligning with fair lending practices. NHB is also urging HFCs to prioritize borrower quality over advance collections to mitigate default risks.

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SBI is navigating surplus liquidity, a welcome shift attributed to the RBI's actions. The bank anticipates a further policy rate cut this year, contingent on factors like a normal monsoon. While deposit mobilization is challenging, SBI focuses on personalized customer engagement and technological innovation to maintain growth and manage risks.

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The Odisha government has reversed its decision to restrict HDFC Bank, ICICI Bank, and Axis Bank from handling state business. This decision follows assurances from the banks to Chief Minister Mohan Majhi on July 1, committing to improve their performance in priority sector lending and credit-to-deposit ratio.

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Lenders of Jaiprakash Associates Limited declined Jaypee Infratech's resolution plan. Jaypee Infratech sought reconsideration, but creditors upheld their rejection. Five companies, including Adani Enterprises and Vedanta Group, submitted resolution plans to acquire Jaiprakash Associates Limited. The resolution professional presented a summary of these plans. Creditors are claiming Rupees 57,185 crore. National Asset Reconstruction Company Limited leads the claimants.

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The Reserve Bank of India is reviewing credit bureau operations. This aims to improve data consistency and transparency for customers. A working group is addressing concerns from financial institutions. Suggestions include uniform data standards and a common grievance portal. The RBI also wants quicker complaint resolution and more frequent credit data updates. A unique borrower identifier is also under consideration.

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Fibe's digital lending platform elevates Vimal Saboo to CEO of EarlySalary Services Private Limited (ESPL), its NBFC arm. With over two decades of financial expertise, Saboo will spearhead ESPL's lending operations, enhance digital infrastructure, and build tailored credit solutions. This move aims to strengthen Fibe's lending business and foster innovation-led growth.

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The Supreme Court has declined to intervene in the case against HDFC Bank CEO Sashidhar Jagdishan. He is accused of fraud related to Lilavati Hospital. The court directed the Bombay High Court to proceed with the hearing on July 14. Senior counsel Mukul Rohatgi argued the bank was wrongly implicated in a private dispute.

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In May 2025, Indian banks increased their fresh loan spreads, reflecting a focus on margin protection amidst RBI rate cuts. Private sector banks saw a more significant rise in spreads compared to public sector banks.

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BANKING

HDFC Bank CEO Sashidhar Jagdishan has petitioned the Supreme Court to quash an FIR filed by Lilavati Hospital trustees. Represented by Senior Advocate Mukul Rohatgi, Jagdishan claims the FIR is baseless and intended to pressure the bank regarding pending financial recovery. The Supreme Court has scheduled a hearing for the case on Friday.

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BANKING

Indian bank lending remains cautious despite policy rate cuts. Lending growth slowed to 9.6% from 19.1% last year. Corporate, home, and NBFC loans are soft. Firms prepaid debt via bonds. Home loan borrowers awaited further rate cuts. Gold and renewable energy loans surged. Experts believe lending may pick up after recent rate cuts by Reserve Bank of India.

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The Reserve Bank of India has issued new directives. Banks cannot charge pre-payment fees on floating-rate loans. This applies to individuals and micro, small enterprises. The rule covers business loans. It also includes other loans to individuals. Small finance banks and regional rural banks have some exceptions. These rules apply to loans sanctioned after January 1, 2026.

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RXIL, a leading TReDS platform, has facilitated invoice financing exceeding ₹2 lakh crore for MSMEs, significantly improving their working capital cycles. In FY25, the platform enabled ₹80,500 crore in financing, benefiting over 44,000 MSMEs. RXIL aims to expand its corporate base and MSME network, targeting ₹1.25 lakh crore in bill discounting for FY26.

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JM Financial has acquired the remaining 2.98% stake in JM Financial Credit Solutions Ltd (JMFCSL) from Moraine Master Fund LP, making it a wholly-owned subsidiary. The transaction, valued at approximately ₹88.97 crore, was completed on July 1st. This acquisition is expected to enhance JM Financial's consolidated profits and improve capital allocation within the group.

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Finance Minister Nirmala Sitharaman lauded State Bank of India's digital transformation. She spoke on the bank's 70 years of service. SBI supports farmers, SHGs, and MSMEs. The bank has a large number of Jan Dhan and insurance scheme beneficiaries. SBI plans to solarise 4 million homes by FY27. Chairman C S Setty highlighted SBI's focus on technology and inclusive growth.

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BANKING

Indian banks may face challenges in the first quarter of fiscal year 2026. A report by IIFL Capital predicts weak loan growth and lower margins. Seasonally soft fee income and higher slippages could also impact performance. Overall profit after tax is expected to decline. Loan growth has slowed, except for MSME loans. Net interest margins are also likely to contract.

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BANKING

India's gold loan market has surged from USD 33 billion in FY19 to USD 83 billion in FY24, exhibiting a robust 20 per cent CAGR, driven by increased trust in formal lending channels and regulatory improvements. Digital technology and evolving customer attitudes, particularly among younger generations, are transforming the gold loan process.

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BANKING

Asian Infrastructure Investment Bank has invested in Aditya Birla Capital Limited. The investment is through Non-Convertible Debentures. The amount is Rs 1,301.25 crore. This will support India's renewable energy and e-mobility sectors. It will help India achieve its sustainability goals. The collaboration will also enhance Aditya Birla Capital's environmental and social governance.

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IndusInd Bank has proposed Rajiv Anand, Rahul Shukla, and Anup Saha as CEO candidates to the RBI following a $230 million loss due to misaccounting, which led to the resignations of its CEO and deputy. The board has prioritized Anand, currently at Axis Bank, citing his experience. Shares of IndusInd Bank saw a slight increase amidst a year-to-date decline.

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Amitabh Chaudhry of Axis Bank believes India's growth remains strong despite global issues. He anticipates increased credit demand following rate cuts. Japanese banks' entry signals confidence in India. New entrepreneurs will emerge, driving growth. Axis Bank addresses deposit challenges and focuses on strategic growth. The bank is open to microfinance opportunities and aims to improve its market position.

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BANKING

Karnataka Bank's MD Srikrishnan Hari Hara Sarma and executive director Sekhar Rao resigned following auditor concerns about expenses exceeding their authority. The board accepted their resignations and initiated a search for replacements, appointing Raghavendra Srinivas Bhat as COO. Auditors flagged Rs 1.53 crore in expenses needing ratification, raising corporate governance questions.

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Jammu and Kashmir Bank has appointed Ketan Kumar Joshi as its new chief financial officer for a three-year term, replacing Fayaz Ahmad Ganai. Joshi brings over 20 years of experience in banking and finance, including his recent role as CFO at North East Small Finance Bank Ltd.

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BANKING

RBL Bank plans to boost its net interest margins. The bank will focus on higher-yielding retail assets. It will launch commercial vehicle and used car financing soon. The bank aims to expand into tier-II and III cities. RBL Bank will leverage digital tools for loan underwriting. It will also optimize existing staff for retail credit.

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BANKING

The finance ministry is encouraging public sector banks (PSBs) to list their subsidiaries on stock exchanges after boosting their operations. About 15 PSB subsidiaries or joint ventures are being considered for IPOs or divestment. State Bank of India may list SBI General Insurance and SBI Payment Services in the future.

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BANKING

Karnataka's Deputy CM, D K Shivakumar, criticized banks for not supporting central government schemes for entrepreneurs, particularly regarding collateral-free loans. He urged KASSIA to empower the next generation and address industry concerns about potential company relocations to other states, assuring that the government will prevent companies from leaving Karnataka.

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India's workforce is large, but investment is lacking. Private sector expansion is low. Banks are less exposed to key industries. The Reserve Bank of India is trying to boost lending. Tycoons are distracted by their own issues. Smaller companies are still cautious. A US-India trade deal could help exports. Private credit is currently favored.

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Public sector banks continued to lead in micro business lending with 45% market share while private banks dominated the small and medium business segments, the credit bureau said on Thursday, unveiling a MSMEx (micro, small and medium exposure) Spotlight Report.

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The commitment to the RBI comes in the backdrop of the central bank's draft guidelines issued last October on 'Forms of Business and Prudential Regulation for Investments.' The guidelines say that core lending business should be undertaken by the bank while restricting lenders and their NBFC units from duplicating similar revenue streams.

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New India Assurance Company Ltd. has been served a show cause notice by tax authorities demanding Rs 2,298 crore in Goods and Services Tax (GST) for the financial years spanning April 2018 to March 2023. The notice, issued on June 26, 2025, prompts the insurer to justify why the alleged GST demand should not be levied.

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Union Minister Sarbananda Sonowal inaugurated Sagarmala Finance Corporation Limited (SMFCL), India's first maritime sector NBFC. Registered with the RBI, SMFCL aims to bridge financing gaps and offer sector-specific solutions to empower ports, MSMEs, and institutions. This initiative aligns with the Maritime Amrit Kaal Vision 2047, fostering India's growth as a global maritime power.

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BANKING

The Reserve Bank of India (RBI) is encouraging banks to lower lending rates to ensure recent policy rate cuts are effectively passed on to borrowers. Financial conditions are favorable for this transmission, with banks already reducing rates following earlier cuts. A CRR reduction is expected to inject liquidity, further lowering banks' costs and aiding monetary policy transmission.

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Sundaram Home Finance is expanding its presence in Madhya Pradesh, inaugurating new branches in Pithampur and Ratlam. Targeting Rs 300 crore in disbursements this fiscal year, this move aligns with their strategy to tap into growth opportunities in Tier II and III towns beyond South India.

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BANKING

Aalok Shah has been promoted to Head of Global Advisory including investment banking, India, at Rothschild & Co, succeeding Chandresh Ruparel. Shah, with the company since 2006, will lead the next phase of growth for the advisory business in India. Ruparel will transition to Senior Adviser after 22 years, providing strategic counsel and mentoring.

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BANKING

Financial Services Secretary M Nagaraju stated that banks are stable but need customer service improvements. Punjab & Sind Bank launched new branches, a CASA back office, and digital lending for MSMEs on its 118th foundation day. The bank also introduced TAB Banking, a revamped call center, and new products for students and farmers, focusing on customer-centricity and digital transformation.

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BANKING

Credit card spending saw a boost in May, reaching ₹1.9 lakh crore. This marks an increase from the previous year. New card issuances also rose, hitting a four-month high. Transaction volumes increased significantly. HDFC Bank and SBI Cards led in new card issuances. However, some lenders like ICICI Bank and RBL Bank experienced a decline in their card base.

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The Reserve Bank of India’s decision to reduce the priority sector lending (PSL) target for small finance banks (SFBs) from 75% to 60% of adjusted net bank credit (ANBC) is expected to release around ₹41,000 crore, according to CareEdge. This capital can now be redirected to lower-risk segments like housing, secured retail, and MSME loans.

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Asia Healthcare Holdings names Arvind Sivaramakrishnan as CTO. He will spearhead digital transformation. Sivaramakrishnan will oversee digital infrastructure and AI integration. He has experience at Apollo Hospitals and Karkinos Healthcare. AHH aims to improve patient care through technology. The company focuses on oncology, women's health, fertility, urology and nephrology. GIC and TPG back Asia Healthcare Holdings.

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The finance ministry has urged Irdai to enhance vigilance on claim settlements and grievance redressal amid rising health insurance premiums. Concerns were raised about premium hikes, corporate governance in stand-alone health insurers, and declining insurance penetration.

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The National Housing Bank (NHB) has tightened norms for refinancing home loans, stipulating that refinance will only be provided for properties where less than half of the construction is complete at the time of the first disbursement.

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Progcap, an MSME fintech, aims to exceed Rs 3,000 crore in AUM by fiscal year-end. This growth is fueled by high demand for formal MSME credit. The company anticipates a 40-50% business increase. Loan sanctions are projected to reach Rs 5,200 crore. Progcap is planning a funding round.

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BANKING

Airline insurance costs in India are likely to increase significantly. This follows a major aviation accident. Experts predict premiums could rise by 10% to 30%. The Air India crash in Ahmedabad is a key factor. The crash resulted in substantial insurance claims. Global aviation insurance rates are also expected to harden. This increase will affect airlines worldwide.

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BANKING

A study reveals that the poor still rely on informal lenders for emergency funds. Piramal Enterprises suggests NBFCs can bridge this gap with regulatory support. Micro-businesses and weaker segments remain underserved, depending on informal channels. Covid-19 increased reliance on informal credit, especially in lower-income states. State-level disparities exist, with some states heavily reliant on informal borrowing.

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The Odisha government has removed HDFC Bank, ICICI Bank, and Axis Bank from its list of empanelled banks due to their consistently poor performance in key government schemes and discouraging banking parameters. The state has directed its departments and organizations to close accounts with these banks and transfer balances to other empanelled institutions.

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BANKING

A Piramal Enterprises study reveals that despite financial inclusion efforts, many Indians, especially micro-business owners and the economically weaker sections, still rely on informal lending. COVID-19 exacerbated this trend, with reverse migration and increased agricultural employment driving dependence on moneylenders. The report suggests that NBFCs, with better access to funding and regulatory support, could bridge this gap.

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BANKING

To combat the surge in digital payment frauds, major Indian banks are collaborating with the RBI to develop the Digital Payment Intelligence Platform (DPIP). This Digital Public Infrastructure aims to enhance fraud risk management through real-time intelligence sharing, preventing fraudulent transactions. The RBI Innovation Hub is building a prototype, leveraging advanced technologies.

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Deepak Parekh revealed Chanda Kochhar's merger proposal between ICICI and HDFC, predating HDFC's reverse merger. Parekh cited regulatory pressure from the RBI as the primary driver for the HDFC-HDFC Bank merger, emphasizing the need for larger Indian banks. Post-merger, ICICI Bank has outperformed HDFC Bank in key metrics like profit growth and net interest margin.

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A Motilal Oswal report indicates that the RBI's relaxed project financing norms will have a negligible impact on banks' and NBFCs' profitability and balance sheets. The new guidelines, effective October 1st, reduce provisioning requirements to 1% during construction and 0.4% post-DCCO. These final norms are considered positive, striking a balance between enabling project finance flow and maintaining lender stability.

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BANKING

Bankers and analysts, who had pencilled in up to a 150-basis point impact on return on assets (RoAs) for lenders, now expect no new provisioning requirements as NBFCs are already on the more stringent Ind-AS accounting norms while for banks the impact is small. One basis point is 0.01 percentage point.

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Agriculture Insurance Company Ltd. urges the GST Council to eliminate the 18% GST on rural-focused general insurance, including agriculture and allied risks, to improve affordability and coverage. While government-sponsored crop schemes are exempt, the insurer advocates extending similar support to all rural-centric products.

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BANKING

Insurers had earlier written to the government and regulator seeking a 5-15% increase starting April 2025, citing mounting pressure from rising court awards, upfront claim payments, and a distorted claims cycle during the pandemic years. "On an accident-year basis, the motor third-party segment continues to bleed. A substantial hike is needed," a senior industry executive said.

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CareEdge reported that the IBC recovery rate improved to 32.76% in Q4FY25, up from 31.39% in the previous quarter, with the resolution-to-liquidation ratio also increasing significantly since FY18. Despite these improvements, creditors still face substantial haircuts of around 70% on admitted claims due to persistent delays and legal hurdles in the resolution process, particularly within the NCLT.

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Partners Group is poised to acquire a 65% controlling stake in Infinity Fincorp Solutions from True North, surpassing bids from Advent International and Creador. The Swiss firm will also inject primary capital, aiming for a 70-75% ownership of the NBFC, valuing the deal at approximately $230 million. This transaction provides an exit for Infinity's angel investors.

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BANKING

Major Indian banks including ICICI and Axis, along with Mastercard, are planning to bypass DreamFolks Services Ltd. to form direct ties with airport lounge operators. This shift follows a September 2024 disruption that impacted lounge access for thousands of travelers. DreamFolks, which dominates India’s lounge aggregation market, now faces competition as banks seek more reliable, direct service partnerships.

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An RBI investigation revealed lapses in Standard Chartered Bank's sale of complex derivative products, leading to accountability measures. Several employees from the forex derivatives desk have departed amidst intensified scrutiny. Bonuses for senior officials are withheld due to ongoing internal reviews and regulatory concerns regarding inadequate risk disclosures to clients.

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BANKING

Indian banks, particularly private lenders, are lagging in the transition to the ISO 20022 SWIFT messaging standard, with only SBI fully compliant ahead of the November deadline. This slow adoption rate, significantly below the global average, raises concerns about potential payment disruptions and penalties for non-compliant institutions.

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BANKING

Standard Chartered refuted a Bloomberg News report alleging lapses in its derivatives sales in India, stating it only offered structured products to eligible clients. The bank denied speculative and inaccurate statements regarding derivative sale processes and risk controls. The RBI's review is reportedly ongoing, focusing on derivative products and risk governance.

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HDFC Bank's CEO, Sashidhar Jagdishan, finds himself facing serious allegations from Lilavati Hospital. The institution claims that Jagdishan accepted bribes in exchange for facilitating a group’s operations.

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India's market borrowing program demonstrates stability, with net borrowings well-managed despite economic growth. The government adheres to fiscal discipline under the FRBM Act, utilizing instruments like G-secs, debt switches, and buybacks to fine-tune its borrowing profile. While public debt has increased, prudent fiscal management ensures long-term sustainability, aligning with FRBM targets.

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The bank, in which the governments of union territories of Jammu & Kashmir and Ladakh hold a majority share with 59.4% interest, plans to reduce concentration risks. "The new MD plans to firmly accelerate the business from rest of India with a clear focus on building the housing and mid-corporate book," Anand Dama, senior research analyst with Emkay Global Financial Services said.

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Customers with bank lockers may face losing them. This is if they do not sign updated rental agreements. Reserve Bank of India wants banks to comply. Banks are seeking permission to issue final notices. They may also seal lockers if needed. The original deadline was March 2024. Some banks are requesting an extension.

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Over the past five years, Indian households have decreased their reliance on bank term deposits, shifting towards mutual funds and stocks due to higher potential returns. While savings deposits remained stable, mutual fund accounts surged, with individuals holding a significant majority. This shift occurred amidst fluctuating interest rates influenced by the RBI's monetary policy adjustments.

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Bank frauds in India have tripled. Payment scams are increasing rapidly. Digital transactions account for more than half of all frauds. The Unified Payments Interface (UPI) is attracting criminals. The banking system needs stronger guardrails. The Reserve Bank of India is developing an AI tool. The stock-market regulator is adding a layer of security.

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Reserve Bank of India set a target. Banks must ensure 75% of ATMs dispense smaller notes by September 2025. Currently, banks reached 73% already. CMS Infosystems data shows growth in low-denomination dispensing ATMs. This change addresses daily transaction needs, especially in rural areas. The aim is to improve public access to smaller denomination notes.

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BANKING

ENBEE Trade and Finance has partnered with Sunrise FinServe to improve loan disbursement efficiency and scalability, particularly in Maharashtra and Gujarat. This alliance aims to leverage Sunrise FinServe's expertise and distribution network to strengthen ENBEE's lending processes and accelerate growth in retail lending.

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Sumitomo Mitsui Financial Group and SBI Holdings are collaborating. They will launch a wealth management service in Japan. The target is affluent individuals. They aim to manage assets worth ¥10 trillion within five years. The venture seeks profitability within three years. It targets ¥10 billion in pre-tax profits over five years.

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While other details, if any, in the NFRA communique are not known, the sources confirmed said the government agency would scan the dossier of working papers and evidence that support the audit exercise and corroborate the bank's claims on its financials. "First, the audit file will tell the scope of work - i.e., whether the auditor was responsible for the derivatives accounts. Second, what are the supporting documents that have gone in forming the audit opinion," said an official with one of the auditors.

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BANKING

The government is encouraging state-run banks to increase lending to productive sectors, particularly MSMEs, through targeted Mudra financing and identification of high-employment clusters. Loan melas are planned for retail customers, following the RBI's recent rate cut to boost private sector investment. The government is also finalizing the Grameen Credit Score to improve credit access for SHGs and the rural population.

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BANKING

CareEdge Ratings anticipates a potential rise in banks' credit costs in FY26 due to stress in unsecured and microfinance loans. Despite this, strong provision buffers, particularly among PSBs with high Provision Coverage Ratios, position banks to absorb potential losses. While asset quality is expected to slightly deteriorate, it will remain manageable, offset by corporate deleveraging.

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Life Insurance Corporation of India offers help to families affected by the Air India flight Al 171 accident. This incident occurred in Ahmedabad on June 12, 2025. LIC will speed up claim processing for the affected families. The insurer will relax some rules for faster settlements. Families can submit government records or compensation proof instead of a death certificate.

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India’s growing economy, young workforce, and expanding export base make it a key market for Mizuho Financial Group, according to CEO Masahiro Kihara. The Japanese banking major sees India as a long-term strategic partner and is considering additional investments beyond the $500 million capital already deployed.

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BANKING

"Deposit rates are going down in line with the monetary policy announcement, where the RBI (Reserve Bank of India) cut repo cuts by 50 basis points," said Anup Bhaiya, managing director and CEO, Money Honey Financial Services.

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The FSIB, which recommends names for top roles at public sector insurance companies and banks, on Wednesday named Doraiswamy Ramchandran for the position of chief executive and managing director at Life Insurance Corporation of India. He is currently LIC's MD.

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BANKING

The Enforcement Directorate has summoned senior counsel Arvind Datar regarding his advice to Care Health Insurance on ESOPs issued to Rashmi Saluja. The investigation revolves around whether the ESOP issuance violated regulations, leading to scrutiny of legal opinions provided. Former Irdai chairman Hari Narayan may also be questioned in connection with the matter.

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BANKING

Banks are tightening the rules for corporate credit cards following regulatory concerns. Users must now declare that these cards will only be used for business expenses, preventing them from circumventing personal spending limits. This move addresses the misuse of corporate cards for personal purchases, potentially leading to deactivation for violations and increased scrutiny from both banks and companies.

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BANKING

Lilavati Kirtilal Mehta Medical Trust has accused HDFC Bank and its CEO Sashidhar Jagdishan of loan inconsistencies. The Trust alleges discrepancies in loan amounts and bribery. HDFC Bank denies all allegations. The bank calls the claims malicious and false. HDFC Bank threatens legal action against those making the allegations. The bank urges the public to be critical of the claims.

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BANKING

Mizuho Financial Group is nearing a deal to acquire a majority stake in Avendus Capital, potentially valuing the Indian investment bank at $800 million. This move follows a trend of Japanese banks expanding into India, exemplified by Sumitomo Mitsui's recent investment in Yes Bank. Mizuho aims to leverage Avendus' expertise to strengthen its dealmaking presence in the burgeoning Indian market.

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BANKING

NBFCs play a crucial role in financial inclusion, as they extend credit to people, communities and small businesses that are often underserved by traditional banks. The RBI's engagement signals a growing concern within the central bank over the lag in rate transmission by these institutions, even as banks have shown relatively better, albeit still partial, alignment with monetary policy moves.

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India's digital payment revolution, particularly the Unified Payment Interface (UPI), has garnered global recognition, processing ₹24.77 lakh crore in transactions in March 2025. With widespread adoption by individuals and merchants, digital payments are prevalent even for micropayments. Direct Benefit Transfer (DBT) initiatives have enhanced transparency, eliminated ghost beneficiaries, and saved the government over ₹3.48 lakh crore.

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BANKING

The Reserve Bank of India's interest rate cut is poised to significantly benefit non-banking finance companies by expanding their margins due to reduced funding costs. Easing of norms on unsecured loans and lower risk weights will facilitate increased bank lending to NBFCs, boosting their lending activities. Investors have responded positively, driving up NBFC stock prices.

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BANKING

ICICI Bank's price-to-book (P/B) ratio is currently around 3.5. In contrast, State Bank of India P/B is around 1.5, reflecting differing market perceptions of the two banks' growth prospects, profitability, and risk profiles.

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BANKING

The Reserve Bank of India will discontinue daily variable rate repo auctions from June 11 due to surplus liquidity in the banking system, which has averaged ₹2.75 lakh crore in June. This decision aligns with the RBI's target of maintaining surplus liquidity near 1% of net demand and time liabilities.

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BANKING

Reserve Bank of India's unexpected rate cut may boost bank earnings. Analysts predict net interest margins will recover faster than expected. The CRR reduction should soften the impact on margins. It will also improve liquidity. Experts believe this is more beneficial for banks than NBFCs. The rate cut may initially pressure margins.

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Jaiprakash Associates Ltd faces debt resolution. NARCL, the lead creditor, extends the bid submission deadline by 15 days. This decision follows requests from interested bidders. The company owes creditors ₹57,185 crore. Several companies including Adani Enterprises and Dalmia Bharat have shown interest. NARCL holds the majority of the debt. The resolution process continues under the Insolvency and Bankruptcy Code.

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HDFC Bank's CEO, Sashidhar Jagdishan, faces allegations in a Mumbai Police FIR. The Lilavati Kirtilal Mehta Medical Trust alleges he received money to harass a trustee's father. HDFC Bank denies the charges, linking them to a loan recovery case involving Splendour Gems. The bank claims the Mehta family is attempting to derail recovery efforts.

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BANKING

Sat Pal Bhanoo has been entrusted with the additional charge of MD and CEO of LIC, effective from June 8, 2025, until September 7, 2025, or until a regular appointment is made. This decision follows the completion of Siddhartha Mohanty's term as CEO and MD on June 7, 2025. Bhanoo is the seniormost among the four LIC MDs.

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BANKING

HDFC Bank will pursue legal remedies against allegations by the Lilavati Kirtilal Mehta Medical Trust, which called for the suspension of CEO Sashidhar Jagdishan over alleged financial fraud. The bank strongly denies the claims, stating they are attempts to obstruct loan recovery from defaulters. HDFC asserts the Trust's actions are a malicious attempt to defame its CEO.

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Under the revised regulations issued late evening, the RBI introduced differentiated loan-to-value (LTV) limits for consumption loans against gold collateral. Borrowers can now access loans up to Rs 2.5 lakh at an LTV of 85%, loans between Rs 2.5 lakh and Rs 5 lakh at 80%, and loans above Rs 5 lakh at 75%. For loans exceeding Rs 2.5 lakh, lenders will have to carry out detailed credit assessments, including evaluating the borrower's repayment capacity.

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Following a significant 50 basis points repo rate cut by the RBI, Punjab National Bank has reduced its lending rates by up to 50 basis points, effective June 9, 2025. This move aims to make EMIs more affordable for both existing and new borrowers, with home loan rates starting from 7.45% and vehicle loans from 7.8% per annum.

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RBI Governor Sanjay Malhotra announced that final gold loan regulations will be released by today or Monday. These norms include raising the Loan-to-Value (LTV) ratio for gold loans under Rs 2.5 lakh to 85% from the current 75%. The Ministry of Finance previously suggested revisions to the RBI's draft directions. Following the announcement, Manappuram shares rose by 3.

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BANKING

Financial Services Secretary N Nagaraju has urged state governments to take strict action against individuals who harass bank staff. He emphasized the importance of uninterrupted banking services for citizens and businesses. Nagaraju called for deterrent legal measures to protect bank employees and maintain public trust in the banking system.

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BANKING

Private sector banks charge higher spreads on loans compared to public sector banks, ranging from 40 to 200 basis points more, according to recent RBI data. Despite this, private banks demonstrated more effective transmission of policy rates during a period of tight liquidity. The RBI is considering new guidelines to improve policy rate transmission, potentially announced Friday.

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IndusInd Bank expands its digital banking platform, ‘INDIE’, to over 15 million retail customers, integrating core banking services into a unified interface. The app features numberless debit cards, virtual single-use cards, and dynamic ATM PINs for enhanced security.

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BANKING

Financial Services Secretary M Nagaraju has urged state governments to take strict action against individuals engaging in aggressive behaviour towards bank staff. He emphasised the importance of ensuring uninterrupted banking services for the public, Direct Benefit Transfers, and economic activities.

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The Central Board of Direct Taxes (CBDT) is set to conduct a thorough review of charitable entities and non-profit organizations to detect potential misuse for terror financing or money laundering. Collaborating with agencies like IB, ED, and NIA, the CBDT will create a database focusing on institutions with foreign connections and those with questionable financial activities.

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