BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

Digit Life Insurance witnessed substantial growth in FY 2024-25. Its revenue surpassed Rs 1,315.9 crore. The company settled claims worth Rs 2.88 billion. Digit Life improved its claim settlement turnaround time to 1.89 days. The claim settlement ratio reached 99.53%. The company focuses on simplifying products and enhancing trust. Digit Life has served 6.7 million customers with over 4,000 agents.

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BANKING

In 2025, Indian banks are unusually investing heavily in mutual funds, with investments surging 91% to ₹1.19 lakh crore. This shift is driven by suboptimal credit growth, surplus liquidity, and favorable market conditions. Banks are primarily utilizing liquid and money market schemes for higher short-term returns, rather than direct lending.

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BANKING

Data from Reserve Bank of India shows a shift in banking resources. Metro cities now hold more deposits, but their share of credit has decreased. Personal loans are becoming more popular than corporate loans. More people and capital are moving to semi-urban areas. Housing loans are also becoming more affordable. This indicates a more balanced distribution of banking across India.

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BANKING

Microfinance lenders in India aggressively cleared bad loans in Q4 FY25, significantly impacting profitability. This strategic move aims to prepare for an expected turnaround, with listed NBFC-MFIs writing off Rs 2,440 crore. The sector faces challenges like over-indebtedness and disruptions, prompting introspection and operational adjustments for a more sustainable future.

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BANKING

State Bank of India, Punjab National Bank, and Bank of Baroda, along with two other PSBs, are collaborating on a common collection firm via PSB Alliance Pvt Ltd to recover retail and MSME loans below ₹5 crore. This initiative aims to enhance recoveries and allow banks to concentrate on core activities.

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BANKING

Swarup Kumar Saha's tenure as MD and CEO of Punjab & Sind Bank has been extended by the government until February 2027, following approval from the Appointments Committee of the Cabinet. Saha initially assumed the role on June 3, 2022.

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BANKING

India's health insurance industry, once a growth leader, now faces structural challenges affecting both expansion and profitability. Overestimation of the addressable market, government schemes, and rising competition are key factors. Investors are advised to lower growth expectations and focus on resilient areas like TPAs and diversified insurers due to rising claim costs and hospital charges.

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BANKING

Canara Bank has eliminated the average monthly balance requirement for all savings accounts, effective June 1, to attract deposits amid industry-wide challenges. The bank anticipates a revenue loss of a few hundred crores annually from waived penalties. However, it expects the move to encourage customers to invest in term and recurring deposits, providing an alternative to capital markets.

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BANKING

In fiscal year 2024-25, the Reserve Bank of India levied 353 penalties totaling ₹54.78 crore on regulated entities for statutory contraventions. These penalties addressed non-compliance issues related to cybersecurity, exposure norms, KYC guidelines, fraud reporting, and credit information submissions. Cooperative banks faced the most penalties, followed by NBFCs, housing finance companies, public and private sector banks, and foreign banks.

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BANKING

Kotak Mahindra Bank has announced the appointment of Paritosh Kashyap as Executive Director, effective November 1, succeeding Shanti Ekambaram, who will retire in 2025. Kashyap, a veteran with three decades at Kotak, currently heads the wholesale banking group. His appointment, subject to RBI approval, reflects the bank's strategic leadership transition, acknowledging Ekambaram's significant contributions over 34 years.

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BANKING

The Reserve Bank of India is contemplating interest rate regulations for NBFCs, similar to those for banks, to improve transparency and monetary policy transmission. The RBI aims to ensure borrowers benefit from benchmark rate adjustments by moving away from outdated prime lending rate models. Additionally, the central bank plans to enhance supervision and review fair interest rate practices for NBFCs.

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BANKING

Deutsche Bank orchestrated a significant $3.35 billion private credit deal for the Shapoorji Pallonji Group, securing funds from global investors like BlackRock and Morgan Stanley. The three-year nonconvertible debentures, backed by a portion of SP Group's Tata Sons stake, offer a 19.75% yield.

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BANKING

The finance ministry has suggested the RBI to exempt small borrowers seeking loans below Rs 2 lakh from its draft directions on gold collateral lending, aiming for quicker disbursal. They also proposed implementing the rules from January 1, 2026, citing the need for field-level adjustments. This came after reviewing the RBI's draft guidelines and considering stakeholder concerns.

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BANKING

RBI's annual report released on Thursday shows that transmission of policy rate to end borrowers is the lowest by non-banking finance companies (NBFCs) as compared with banks and an attempt to link finance companies' lending rates to policy rates was "not found feasible at this juncture."

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BANKING

The Finance Ministry suggests changes to the Reserve Bank of India's gold loan rules. These revisions include delaying the implementation. The ministry wants to protect small borrowers. Loans under Rs 2 lakh may get an exemption. The ministry also proposes a later start date of January 1, 2026. The RBI is now reviewing all feedback before finalizing the guidelines.

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BANKING

Reserve Bank of India will soon release norms to stop mis-selling. This will protect consumers from misleading sales tactics. In FY25, the RBI received many complaints about loans and digital banking. The RBI is also creating a system to check how well banks protect customers. They are working to educate people and improve complaint handling with AI.

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BANKING

The Institute of Chartered Accountants of India (ICAI) will review private lender IndusInd Bank’s financial statements for the financial years 2023–24 and 2024–25 in the wake of recent fraud allegations, reported PTI citing ICAI President Charanjot Singh Nandal on Thursday.

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BANKING

Irdai is pushing insurance companies to broaden their reach. The focus is on covering more individuals. A ₹300 crore awareness campaign is planned. It aims to promote insurance adoption. Deepak Sood highlighted the evolving nature of risks. Tapan Singhel noted India's vulnerability due to low insurance penetration. General insurance has a low grievance ratio compared to other sectors.

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BANKING

Indian banking profits soared to a record high in FY25, driven by public sector lenders' strong performance. PSBs witnessed a 26% profit surge, narrowing the gap with private banks' 7% growth. Improved asset quality, aided by regulatory measures and bankruptcy code, contributed to the sector's impressive earnings, despite concerns about unsecured loans and microfinance stress.

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BANKING

Axis Max Life Insurance announced that MD and CEO Prashant Tripathy will retire, effective September 30, 2025, to pursue personal interests. Tripathy has been with the company since 2007 and has served as MD & CEO for the past six years.

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BANKING

Indel Money, a gold-loan NBFC, reports strong growth. Assets under management increased by 52%. The company's AUM reached Rs 2,400 crore. Profit also rose by 10% to Rs 61 crore. NPA levels improved significantly. The company plans to expand further. It aims for Rs 10,000 crore in disbursements in FY26. The NBFC also expects AUM to reach Rs 4,000 crore.

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BANKING

India's life insurance market is projected to surge at 10.5% annually over the next decade, significantly outpacing the global average. This growth is fueled by a robust economy and supportive government policies. The Indian market is poised to become the second largest in Asia, surpassing Japan, driven by reforms and increased foreign investment.

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BANKING

Irdai is worried about some life insurers. These insurers are allegedly changing actuarial assumptions. This is to keep solvency ratios above the minimum. Irdai has warned CEOs and actuaries. The regulator is pushing for tighter oversight. Risk-based inspections have begun. These inspections will assess if assumptions align with past data.

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BANKING

Sanlam, a major asset manager, has entered the Indian market by investing Rs 105 crore for a 23% stake in Shriram Asset Management Company (AMC). This investment makes Sanlam a co-promoter alongside Shriram Credit Company. The capital infusion will be used to expand Shriram AMC's offerings and attract talent.

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BANKING

The Reserve Bank of India has instructed finance companies to exclude default loss guarantees (DLGs) from fintech firms when provisioning for stressed loans, impacting digital lending service providers. NBFCs must now make full provisions on these loans, diminishing their appeal for new business.

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BANKING

The Reserve Bank of India is considering allowing banks to offer term deposits with tenures shorter than seven days, seeking feedback from banks amidst concerns over slowing deposit growth. While some banks see this as a way to boost liquidity and attract deposits, others worry about potential asset-liability mismatches and limited lending opportunities for such short-term funds.

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BANKING

National Financial Reporting Authority received a complaint against IndusInd Bank. The complaint is about accounting issues in forex derivative portfolio. Reserve Bank of India is providing inputs to NFRA. Securities and Exchange Board of India and Institute of Chartered Accountants of India are also reviewing the bank's books. IndusInd Bank reported losses due to these discrepancies.

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BANKING

Citigroup has appointed Prashant Thakker as Head of the Asia South Corporate Bank, effective immediately, according to an internal memo. He will oversee strategy, financial performance, talent, and execution across nine markets: India, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Bangladesh, and Sri Lanka.

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BANKING

Reliance Infrastructure Ltd, led by Anil Ambani, has achieved debt-free status on a standalone basis by FY25, eliminating bank and financial institution loans. The company reported a consolidated profit of Rs 4,387 crore in Q4 FY25, with adjusted EBITDA soaring by 681%. Operational improvements include reduced transmission losses in Delhi and increased ridership on Mumbai Metro Line 1.

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BANKING

The Indian retail credit industry remains far from saturation due to several factors. The country continues to add many working-age citizens, particularly millennials and Gen Z, who have better incomes and changing spending habits. Increased global integration and upward social mobility have significantly influenced consumer behaviour, creating new demand for credit, says Indian Bank managing director Binod Kumar.

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BANKING

The RBI's draft allows pooling and securitising stressed retail and corporate loans, barring categories like farm loans, education loans, fraud, and wilful defaults. Investors must not be related to borrowers or disqualified under IBC norms.

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BANKING

Punjab National Bank aims for a substantial Rs 16,000 crore recovery in the current fiscal year, striving to maintain slippages below 1%. The bank will focus on technical write-off accounts, targeting Rs 6,000 crore in recovery from this segment. PNB also plans to expand its RAM sector lending to 58% of its loan book to offset interest rate reduction impacts.

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BANKING

IIFL Finance has secured regulatory approvals to open branches and extend credit services in Jammu & Kashmir, aiming to provide crucial financial access to underserved communities. This initiative supports the revival of small businesses and households, complementing IIFL's existing CSR activities in the region focused on education, healthcare, and community empowerment.

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BANKING

Fusion Finance reported a net loss of Rs 165 crore for Q4 FY25, marking its fourth consecutive quarterly loss due to severe asset quality stress. Increased provisions for bad loans, totaling Rs 255 crore, significantly impacted profitability. The company is seeking extensions from lenders after breaching financial covenants on borrowings of Rs 4,763 crore.

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BANKING

The Central government formed a Payments Regulatory Board. This action may decrease the Reserve Bank of India's power. The government will appoint some members to the PRB. Previously, the RBI opposed an independent body. Experts suggest the new board could speed up payment innovation. The digital payments ecosystem was earlier managed by RBI's DPSS. Now, PRB will take over.

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BANKING

Reserve Bank of India plans to simplify claiming unclaimed deposits. New rules allow KYC updates via video calls and business correspondents. This helps reactivate dormant accounts, especially in rural areas. The move aims to ease reclaiming funds from accounts inactive for over 10 years. Users can check the UDGAM portal and soon update KYC remotely.

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BANKING

The Reserve Bank of India has levied a penalty of Rs 63.6 lakh on Union Bank of India for non-compliance with the Banking Regulation Act and directions related to collateral-free agricultural loans. Additionally, Transactree Technologies (Lendbox) faces a Rs 40 lakh penalty for violating norms outlined in the Peer-to-Peer Lending Platform Directions, 2017.

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BANKING

NRI deposits in Indian banks surged to an 11-year high in FY25, reaching $16.2 billion, driven by attractive interest rates and rupee depreciation. Dollar deposits (FCNR(B)) saw significant inflows, with NRIs earning higher returns compared to their home countries. Rupee deposits (NRE(RA)) also increased, reflecting the benefits of currency fluctuations.

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BANKING

Commercial credit supply experienced an 11% year-on-year decline in the March quarter due to asset quality concerns and external headwinds, despite an 11% growth in loan enquiries. The overall commercial credit supply growth was restricted to 3%. Portfolio outstanding reached Rs 35.2 lakh crore, with stress declining to a five-year low of 1.79%.

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BANKING

IndusInd Bank faces significant challenges after reporting a substantial net loss due to accounting irregularities and senior management involvement. Brokerages predict muted financials and an uphill task for the new CEO to restore investor confidence. The bank's future performance is uncertain, with potential for earnings downgrades and a focus on balance sheet stability over growth.

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BANKING

Markets regulator Sebi is investigating potential serious violations by senior management at IndusInd Bank, which is grappling with accounting fraud. While the RBI addresses broader issues, Sebi focuses on securities market breaches by bank officials. IndusInd Bank's board suspects employee involvement in the fraud, prompting internal audits, forensics probes, and reports to investigative agencies.

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BANKING

Indian lenders are advocating for the Reserve Bank of India (RBI) to reinstate overnight liquidity management operations and ease cash reserve requirements. Banks are seeking a shift from the current 14-day variable repo to fixed-rate overnight instruments and a reduction in the daily maintenance of the cash reserve ratio.

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BANKING

InsuranceDekho and RenewBuy have merged through a share swap. The deal values the combined entity at ₹7,400 crore. Ankit Agrawal of InsuranceDekho will likely become the CEO. RenewBuy's investors will receive shares in InsuranceDekho. The merged company will be among India's top three insurance distributors. Their combined premium book will be ₹6,000 crore. The deal awaits regulatory approvals.

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BANKING

To combat fraud and enhance customer experience, Indian banks are advocating for individual national calling numbers within the '1600xx' series, enabling incoming calls. Banks have approached the government and RBI for approval, seeking clarity on usage and exemptions for debt servicing calls. This move aims to streamline communication and improve security for banking customers.

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BANKING

Shriram Life Insurance Company Ltd. experienced substantial growth in the financial year 2025, with a 20.2% surge in total premium to Rs 4,216 crore. The company's Assets Under Management also increased significantly to Rs 13,207 crore. Individual new business APE witnessed a remarkable 45.3% growth, outpacing the industry average, demonstrating the company's strong performance and commitment to expanding its reach.

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BANKING

IDFC First Bank's shareholders have rejected a special resolution to appoint a nominee director from Warburg Pincus due to concerns over the absence of a minimum shareholding threshold. Despite this, Warburg Pincus and ADIA are still set to infuse ₹7,500 crore into the bank through a preferential equity issue.

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BANKING

IDFC First Bank's shareholders have rejected a proposal that would have allowed Warburg Pincus' arm, Currant Sea Investments BV, to nominate a non-executive director on the bank's board, failing to secure the required 75% majority. While institutional investors largely opposed the resolution, retail investors overwhelmingly supported it.

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BANKING

Shapoorji Pallonji Group seeks a three-year extension from the RBI for its Sterling Investment Corp to meet stricter capital adequacy norms after being reclassified as a mid-layer NBFC. This request is linked to a recent ₹28,500 crore fundraising backed by Sterling's Tata Sons stake.

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Internationally, we are present in 15 countries - US, UK, France, Belgium, Singapore, Japan, New Zealand and Africa, and so on. The GDP in these countries is much less compared with India. When India's GDP is growing at a faster pace, my domestic book will always grow faster, says Rajneesh Karnatak, managing director and chief executive of Bank of India.

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BANKING

CRIF is offering integrated credit information services to help MSMEs access formal credit, addressing the Rs 30 lakh crore credit gap. By combining consumer and commercial credit data with its credit score and CIBR, CRIF enables lenders to better assess risk. The government is also supporting MSMEs with a new credit assessment model based on digital footprints.

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BANKING

In the absence of banks, which focus on loans of Rs 15-20 lakh, NBFCs are finding growth opportunities in the high yielding micro-LAP (loan-against property), which are sub-Rs 10 lakh loans. Industry executives said that there are growth opportunities given that the MSME sector remains starved for credit.

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BANKING

State Bank of India has reduced its deposit rates by 20 basis points across all maturity periods, including the special 444-day scheme, effective Friday. The 444-day scheme now offers 6.85% annually, down from 7.05%. This is SBI's second deposit rate cut following the Reserve Bank of India's easing of interest rates in February.

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BANKING

Yes Bank anticipates Sumitomo Mitsui Banking Corp (SMBC) to maintain at least a 20% stake, with regulatory factors potentially limiting further increases. SMBC's 20% acquisition marks a significant cross-border deal in India's financial sector. The deal awaits regulatory approvals, and is expected to positively impact Yes Bank's credit rating and lending opportunities.

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BANKING

HSBC's group chief executive, Georges Elhedery, expressed strong optimism about India's growth potential, highlighting its unique position as a massive opportunity. HSBC plans to expand its retail banking operations in India, diverging from its competitors. The bank aims to increase its market share by leveraging its comprehensive services and global network, further investing in both corporate and premier banking sectors.

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BANKING

IndusInd Bank addressed a whistleblower complaint regarding discrepancies in its financial records. The bank revealed that ₹595 crore in "other assets" were offset against "other liabilities" in January 2025. Additionally, ₹674 crore was incorrectly recorded as interest in the microfinance loan book over three quarters, later reversed.

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BANKING

SBI Card has collaborated with Apollo HealthCo to introduce Apollo SBI Card SELECT. This co-branded credit card focuses on health and wellness. Cardholders will enjoy shopping benefits on Apollo 24*7 app and Apollo Pharmacy stores. Purchases like medicines and health check-ups will be rewarding. Customers will receive a welcome e-gift voucher worth Rs 1,500.

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BANKING

IndusInd Bank is facing scrutiny over past accounting reversals flagged in a whistleblower letter to the RBI and the board. The letter also highlighted a discrepancy in interest income from the microfinance portfolio and an inappropriate relationship between a senior executive and an employee. These issues led to internal and forensic audits, executive resignations, and a significant financial provision.

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BANKING

FICCI has appealed to the RBI to maintain the current co-lending rules, which allow NBFCs to originate loans and then sell a significant portion to banks. They argue that the proposed shift to a joint lending model, requiring simultaneous disbursal, would disrupt credit access and force NBFCs to reduce operations, potentially leading to job losses.

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BANKING

Reserve Bank of India wants to safeguard depositors' interests. It has asked banks for suggestions. The suggestions are about adding nominee contact details to bank forms. This includes email and phone numbers. The move aims to reduce unclaimed deposits. A new banking bill allows up to four nominees. The government will also give its view.

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BANKING

Apollo 24|7 is venturing into insurance with 'Apollo 24|7 Insurance Services,' a fully owned subsidiary, after securing regulatory approval as a corporate agent. The company plans to distribute Health, Life, and General Insurance products, targeting Rs 80 crore in revenue in the first year. Additionally, Apollo 24|7 will launch a health-first credit card and expand its 19-minute medicine delivery service.

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Axis Max Life Insurance is preparing for a potential direct listing following the anticipated passage of the Insurance Amendment Bill. Managing Director and CEO Prashant Tripathy said the company is aligned with regulators and stakeholders on this move and will act immediately post the monsoon session.

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BANKING

India's life insurance sector experienced an 8.43% surge in new business premiums in April 2025, reaching ₹21,965 crore, fueled primarily by LIC's strong performance. Private insurers collectively grew by 6%, with HDFC Life leading among listed players with a significant 23.37% premium jump. Industry experts anticipate traditional savings products will gain traction amid softening interest rates and volatile equity markets.

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BANKING

India's bankruptcy code faces new challenges. A court ruling threatens to reverse completed resolutions. Lenders may have to return funds received from distressed asset sales. This decision creates uncertainty for investors. It also undermines the effectiveness of the insolvency process. The government must address these issues to restore confidence. Reforms are needed to ensure fair and predictable outcomes.

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BANKING

State-owned banks saw a 26% profit surge in FY25. However, net interest margins may face pressure this fiscal year. Banks like State Bank of India, Canara Bank, and Punjab National Bank anticipate lower margins. Geopolitical factors and potential US tariffs contribute to uncertainty. Credit growth forecasts are also tempered. Overall bank credit is expected to grow.

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BANKING

To combat financial fraud, the government is collaborating with banks to develop a real-time due diligence process for identifying 'mule' accounts. The Central Economic Intelligence Bureau suggests banks access mobile number data for risk assessment, balancing security with ease of account opening. Banks propose holistic customer profiling and verifying SIM card registration details to enhance fraud detection.

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BANKING

The Mumbai bench of the NCLT has admitted L&T Finance's insolvency plea against Tikona Infinet over a ₹116.01 crore default on coupon payments for convertible debentures. The tribunal appointed an interim resolution professional, clarifying that CCDs can be considered financial debt if coupon payments are obligatory, irrespective of their classification as equity instruments.

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BANKING

IndusInd Bank faces scrutiny as auditors demand clarity on its derivative accounting discrepancy, potentially classifying it as fraud. The issue, involving losses near ₹2,000 crore, stems from differing accounting treatments in internal and external forex transactions. The bank's board must decide on the 'fraud' designation, impacting regulatory reporting and potentially setting an industry precedent.

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BANKING

Punjab National Bank is prioritizing operating profit and reducing NPAs to boost performance. PNB aims to enhance fee income and recover bad loans, targeting top position in operating and net profit. The bank is revamping CASA products with specialized schemes to attract new customers and increase deposits.

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BANKING

Canara Bank, facing deposit growth challenges, mobilized ₹16,700 crore in ten weeks by engaging its 82,000 employees. Each staff member was tasked with gathering deposits from their network, contributing to a reduction in the credit deposit ratio from 76% to 73%. This initiative also decreased the bank's reliance on bulk deposits and strengthened customer connections.

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BANKING

The Insolvency and Bankruptcy Code (IBC) has improved credit discipline, leading to the settlement of numerous cases before admission. Corporate insolvency resolution processes have resulted in substantial recoveries for creditors. Experts suggest refining the IBC further by focusing on timely liquidations and effective handling of fraudulent transactions, noting its positive impact on FDI inflows.

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BANKING

Sumitomo Mitsui Banking Corporation of Japan has signed a deal to buy a 20% stake in Yes Bank. The deal is worth ₹13,483 crore. State Bank of India and seven private banks are selling their shares. The transaction awaits regulatory approvals. This investment marks a significant step for Yes Bank's growth.

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BANKING

Tensions between India and Pakistan pose significant risks for insurers and reinsurers across various sectors, including sports, aviation, and marine. The potential cancellation of the IPL 2025 due to geopolitical instability could trigger substantial claims. Reinsurers are closely monitoring the situation, with possible increases in war risk premiums and policy cancellations looming, particularly in high-risk zones.

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BANKING

Amidst the ongoing tensions with Pakistan, Finance Minister Nirmala Sitharaman has directed banks and financial institutions to maintain uninterrupted services nationwide, especially in border regions. She emphasized seamless cash availability, functional digital banking, and timely insurance claim settlements. Banks are also instructed to enhance cybersecurity, conduct audits, and coordinate with agencies like RBI and CERT-In.

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BANKING

Moody's downgraded IndusInd Bank's baseline credit assessment due to concerns about management oversight and strategic uncertainty following leadership resignations. The outlook was revised to negative, reflecting potential solvency and funding impacts. While long-term ratings were affirmed, the downgrade highlights weaknesses in internal controls and governance risks, impacting the bank's standalone credit strength amid rising non-performing loans.

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BANKING

A hacker known as xenZen, who previously leaked Star Health's customer data, has claimed responsibility for sending death threats and bullets to the insurer's CEO and CFO. The threats stemmed from alleged denials of medical claims to customers, prompting police investigation and arrest of an individual involved in couriering the packages.

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BANKING

State Bank of India and Yes Bank boards are convening Friday to finalize the sale of stakes to Sumitomo Mitsui Banking Corp. SMBC will acquire a 20% stake initially, potentially increasing to a majority, with SBI retaining a 10% share. The deal, subject to regulatory approval, could be India's largest bank M&A, with SMBC possibly gaining two board seats.

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BANKING

Generali Group plans to inject capital into its Indian venture to expand operations, anticipating the increase in foreign direct investment in the insurance sector to 100%. While the specifics of the infusion are pending shareholder agreement finalization, Generali intends to maintain a 74% equity stake and collaborate with Central Bank, its new partner after the Future Group's insolvency proceedings.

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BANKING

The RBI mandates that banks and regulated entities must submit details of their Digital Lending Apps (DLAs) through the Centralised Information Management System (CIMS) portal. This initiative aims to consolidate regulatory instructions and streamline digital lending processes. The CIMS portal will be accessible by May 13, 2025, with an initial data upload deadline of June 15, 2025.

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BANKING

Muthoot Microfin faced a significant setback, reporting a net loss of Rs 401 crore in the fourth quarter due to a surge in provisions for bad loans and breaches in borrowing covenants. The asset quality crisis led to a full-year net loss of Rs 223 crore, contrasting with the previous year's profit.

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BANKING

Crisil Ratings has placed IndusInd Bank's long-term debt instruments under rating watch with negative implications, following key managerial resignations and a review of its microfinance business. Concerns over internal financial controls and the impact on profitability are being closely monitored. The agency awaits clarity on the MFI discrepancies and their potential impact on the bank's operations.

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BANKING

Non-bank lenders in Mumbai plan to address the Reserve Bank of India regarding proposed co-lending rule changes. The new model suggests joint loan disbursement, replacing the current assignment practice. NBFCs worry about increased risk and liquidity strain due to longer loan holding periods. Banks are also concerned about dual default reporting affecting borrower trust.

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BANKING

A Manimekhalai, the MD & CEO of Union Bank of India, faces denial of extension. Allegations of misgovernance are the reason. A controversial book purchase played a key role. The bank bought many copies of Krishnamurthy V Subramanian's book without board approval. This deal and subsequent board objections impacted her extension bid. She will complete her term on June 30.

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BANKING

Mitsubishi UFJ Financial Group is in advanced discussions to acquire a minority stake, up to 19%, in HDFC Bank's non-banking financial arm, HDB Financial Services, for approximately ₹12,000 crore. This potential deal, the second attempt by both parties, aims to address investor concerns regarding RBI regulations impacting NBFCs and HDB's financial performance.

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BANKING

RBI's proposed gold loan rules may curb the growth of gold finance companies by requiring them to adjust lending practices. Crisil Ratings suggests the draft aims to standardize regulations and address lending disparities. The new LTV computation rules could force NBFCs to recalibrate disbursement values, impacting their growth, despite gold loans being the fastest-growing consumer credit segment in FY25.

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BANKING

Union Bank of India is under scrutiny for purchasing nearly two lakh copies of Krishnamurthy V Subramanian's book, 'India@100,' for ₹7.25 crore. The expenditure faced internal opposition, leading to a general manager's suspension and an investigation by KPMG. Employee unions are demanding further inquiry into potential impropriety and wasteful spending, questioning the benefits achieved and procedures followed.

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BANKING

Sumitomo Mitsui Banking Corp (SMBC) is in advanced discussions to acquire a significant stake in Yes Bank, potentially triggering an open offer for an additional 26%. SBI, currently holding a 24% stake, seeks a new owner after Yes Bank's turnaround.

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BANKING

Bank of Baroda has decreased its home loan interest rates. The reduction is 40 basis points for new borrowers. The new rate starts at 8.00% per annum. Indian Bank also announced a rate cut on home and vehicle loans. These changes follow the Reserve Bank of India's policy rate cut in April.

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BANKING

The net interest margins (NIMs) of microfinance institutions (MFIs) are expected to shrink in the financial year 2025 ended in march, due to emerging challenges in asset quality and declining yields, according to a recent report by Mavenark Advisors.

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BANKING

A new report suggests Non-Banking Financial Companies are expanding faster than India's economy. These companies are crucial in retail and rural lending. Their assets have significantly increased over the years. NBFCs focus on retail borrowers, unlike banks which prioritize wholesale lending. They are key to financial inclusion, serving unbanked populations.

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BANKING

Kotak Mahindra Bank is reassessing its microfinance strategy due to the limitations of the JLG model, anticipating continued stress in the sector for a few more quarters. Despite headwinds in the past fiscal year, the bank remains optimistic about growth, while also acknowledging potential challenges from global trade tensions and geopolitical uncertainties.

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BANKING

State Bank of India aims for over 1% return on assets this financial year. Chairman C S Setty anticipates repo rate cuts impacting net interest margin. The bank plans to align deposit rates with repo rate reductions. SBI's RoA improved to 1.10% in FY25. Gross NPAs declined to 1.82%, and net NPAs eased to 0.47%.

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BANKING

The Reserve Bank of India (RBI) is seeking government approval to eliminate the 30% cap on foreign banks using vostro accounts to purchase short-term sovereign debt. This move aims to boost rupee-denominated investments and trade by making SRVAs more attractive for managing short-term liquidity.

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BANKING

SBFC Finance, which has a market cap of Rs 11,071 crore, has posted a 46% rise in net profit on year to Rs 345 crore in FY25. The finance company specialises in giving secured loans with ticket size of Rs 5 lakh to Rs 30 lakh to small and medium sized companies.

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BANKING

UCO Bank targets a 12-14% credit growth in FY26, emphasizing retail, agriculture, and MSME sectors while selectively pursuing corporate lending. The bank aims to capitalize on India's economic resilience and global supply chain role. Digital transformation and strategic partnerships are key to sustaining growth and improving CASA ratio beyond 40%.

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BANKING

IndusInd Bank faces uncertainty as CEO Sumant Kathpalia resigned following a ₹1,960-crore loss due to derivatives discrepancies, raising concerns about delayed recovery and business disruptions. Analysts suggest appointing a private-sector banker as the new CEO to navigate challenges in key portfolios like vehicle finance and microfinance. The bank's asset quality is under pressure, with rising non-performing assets.

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BANKING

Following CEO Sumant Kathpalia's resignation amid derivatives portfolio discrepancies, the RBI has approved IndusInd Bank's interim "committee of executives," including Soumitra Sen and Anil Rao, to manage daily operations. This committee will function under board oversight until a new CEO is appointed or for a maximum of three months.

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BANKING

The Reserve Bank of India has approved an interim executive committee to manage IndusInd Bank in the absence of its CEO. Senior executives Soumitra Sen and Anil Rao will oversee day-to-day operations under the guidance of a board-led committee, according to the bank’s regulatory filing issued on Wednesday.

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BANKING

India's microfinance sector is facing a severe crisis as delinquency rates have surged, with gross NPAs reaching 16% in FY25. This increase has led to lenders reducing their loan portfolios. Small finance banks are particularly affected, and regulatory measures in Tamil Nadu are expected to worsen the situation, impacting investor confidence and share prices.

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BANKING

Several private sector bank CEOs, including those from Yes Bank, RBL Bank, Bandhan Bank, and Tamilnad Mercantile Bank, have recently resigned amidst controversies. These exits stem from issues like mismanagement, corporate governance failures, regulatory scrutiny, and underreporting of NPAs. The RBI's intervention and forensic audits highlight the challenges faced by these institutions and the subsequent leadership changes.

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BANKING

ET had reported in March the IndusInd board has hired global executive search firm Egon Zehnder to assist in identifying candidates for both the CEO and deputy CEO roles. The firm is helping shortlist names and the bank plans to submit a list of three potential candidates to RBI once internal evaluations are complete.

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BANKING

Sumant Kathpalia resigned as MD and CEO of IndusInd Bank. This follows Arun Khurana's departure and RBI concerns. An investigation revealed incorrect accounting practices. These practices impacted the bank's profit and loss account. The impact is estimated at Rs 1,959.98 crore. This also affects the bank's net worth. The RBI had granted Kathpalia a one-year extension only.

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BANKING

India Ratings warns that Rs 21,800 crore in loans to high-risk MSMEs and mid-corporates are threatened by worsening operating conditions due to the escalating tariff war. MSMEs, particularly in sectors like chemicals and textiles, face growing vulnerability. Mid-corporates possess a stronger financial buffer, but a slowdown in demand could severely impact MSMEs.

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BANKING

The Reserve Bank of India (RBI) mandates the use of the PRAVAAH portal for all regulatory applications from May 1, 2025, for banks, financial companies, and regulated entities. This directive aims to streamline the application process, enhance transparency, and ensure faster processing of requests. The PRAVAAH portal offers necessary forms, instructions, and support resources.

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BANKING

Bajaj Group entities are seeking CCI approval to acquire Allianz SE's 26% stake in their life and general insurance ventures for ₹24,180 crore. This acquisition will increase Bajaj Group's ownership to 100%, ending their 24-year partnership, and allowing both entities to pursue independent growth in India's insurance market.

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BANKING

Bandhan Bank has expanded its reach by inaugurating 16 new branches across five states, including Odisha, Bihar, Jharkhand, Andhra Pradesh, and Chhattisgarh. This strategic move aims to broaden the bank's presence nationwide, focusing on serving semi-urban and rural areas. With this expansion, the total number of branches now exceeds 1730, enhancing accessibility to innovative banking solutions for customers.

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BANKING

Depositors of the scam-hit New India Co-operative Bank protested in Thane, Maharashtra, demanding swift action for the bank's revival or merger. They submitted a memorandum outlining concerns about deposit safety and sought increased withdrawal limits. Frustrated by the lack of clarity, depositors warned of escalating protests if their demands for resolution and transparency are not addressed promptly.

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BANKING

Sa-Dhan has tightened microfinance regulations amid rising asset quality concerns, particularly with potential disruptions in Tamil Nadu due to new state regulations. The new guidelines, effective June 1, include restrictions on top-up loans, processing fees, and the number of lenders per borrower. These measures aim to address over-indebtedness and promote responsible lending practices within the sector, which faces a 13.

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BANKING

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BANKING

IndusInd Bank will penalize employees for lapses in its derivatives portfolio and reorganize senior management roles to enhance accountability. The bank will absorb a Rs 1,959.98 crore loss due to incorrect accounting in the March 2025 quarter. An independent probe revealed errors in internal derivative trades, leading to inflated profits and distorted financials.

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BANKING

Canara Bank is expected to raise over ₹500 crore through the partial sale of its mutual fund subsidiary, Canara Robeco Asset Management Company, by offloading a 13% stake via an IPO. This move aims to enhance the bank's capital adequacy ratio, supporting advances growth and branch expansion. Following this, Canara Bank plans to monetize a 14.

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BANKING

India witnessed a significant surge in credit card spending, reaching a record ₹21.16 lakh crore in FY25, marking a 15% increase fueled by robust consumer demand and a shift towards digital transactions. While new card issuances saw growth, some banks experienced declines, and lenders are now prioritizing credit quality and cross-selling strategies.

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BANKING

Federation of Indian Micro and Small & Medium Enterprises requests revisions to banking rules. The aim is to help MSMEs facing temporary financial difficulties. Fisme suggests introducing human review before classifying loans as SMAs. They also want easier guidelines. The body highlights flaws in third-party rating agencies' evaluation methods for MSMEs. These changes are sought to ensure smooth credit flow.

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BANKING

The Spandana board on Wednesday appointed chief financial officer Ashish Kumar Damani as the interim chief executive of the company. Saxena will continue to assist the company for the next three months to ensure a smooth transition.

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BANKING

Spandana Sphoorty Financial's MD, Shalabh Saxena, has resigned to explore new career paths, prompting the appointment of Ashish Kumar Damani as interim CEO, effective April 23. Saxena's departure follows a period of asset quality challenges for Spandana, marked by consecutive net losses and a rise in non-performing assets. He will assist with the transition during his notice period.

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BANKING

Moody's anticipates a limited impact on Indian banks from US tariff moves due to diversified exports. While the outlook remains stable, a moderate deterioration in asset quality is expected, particularly in unsecured retail, microfinance, and small business loans. Despite potential profitability impacts, strong capitalization and access to equity markets will support banks.

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BANKING

The Reserve Bank of India's revised liquidity coverage ratio norms are projected to unlock ₹2.7-3 lakh crore for banks, boosting lending capacity. This move aims to balance liquidity and profitability, mitigating risks from online withdrawals with a reduced run-off factor. Experts believe banks may adjust deposit strategies, favoring short-term deposits, while the framework supports credit growth potential.

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BANKING

A money laundering scheme is uncovered. Some business correspondents are exploiting banking loopholes. They misuse payment aggregator APIs. This helps them transfer illicit funds. Cash is collected from unknown sources. It is then deposited and moved through various accounts. Regulators are alerted. Banks are urged to tighten controls. The focus is on preventing API misuse.

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BANKING

360 ONE WAM Limited has acquired UBS AG's India wealth management business for Rs 307 crore. The deal includes stock broking and portfolio management. UBS will get a 4.95% stake in 360 ONE WAM. Both firms will collaborate to offer wealth management solutions. This partnership aims to strengthen market position in India. It will help serve global Indian clients better.

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BANKING

IndusInd Bank has appointed EY to conduct a forensic audit into a ₹600 crore discrepancy related to interest income in its microfinance portfolio, flagged during the statutory audit. This investigation aims to identify any lapses and determine accountability. It is separate from the ongoing Grant Thornton Bharat probe into forex derivatives portfolio irregularities.

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BANKING

Following RBI directives to increase risk weights to 150% on specific commercial real estate exposures, several banks have approached the regulator seeking clarification. This move, stemming from observations during the third-quarter inspection and aligned with April 2024 Basel guidelines, impacts lending due to increased capital requirements.

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BANKING

Looking to expand your legal practice or manage expenses? Consider the Bajaj Finserv Lawyer Loan with quick approval, high loan amounts, and convenient repayment options.

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BANKING

DBS Bank India, under new CEO Rajat Verma, aims for significant growth, leveraging its parent company's investment and focusing on SME and corporate banking. The bank sees opportunities in specialized products like loan syndication and supply-chain financing, capitalizing on India's growing corporate needs.

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BANKING

Indian Bank aims to disburse Rs 20,000 crore to Self Help Groups nationwide this financial year, demonstrated by a 'Mega SHG Credit Outreach Programme' in Bhubaneswar. The initiative supports the national mission of empowering one crore SHG women with credit access, aligning with the government's 'Viksit Bharat 2047' vision for inclusive, women-led development.

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BANKING

Satin Creditcare Network anticipates a 15% loan growth this fiscal year, driven by favorable monsoon forecasts and decreasing interest rates. The microfinance sector's stress is easing, with normalization expected in the coming quarters. While the company has no immediate plans to become a small finance bank, it remains open to the possibility in the future.

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BANKING

Depositors of the scam-hit New India Co-operative Bank met with RBI advisors and officials, urging for a revival roadmap or merger plan following restrictions imposed in February 2025. The depositors are seeking increased withdrawal limits and greater protection of their interests. RBI officials acknowledged the depositors' concerns and promised to address them with higher authorities.

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BANKING

Indian banks, including HDFC Bank and SBI, are strategically reducing savings account interest rates by 25 basis points to protect profitability amid declining CASA ratios. This move aims to lower the cost of funds and improve net interest margins, even as deposit growth faces challenges. Experts anticipate limited fund migration despite depositors shifting towards higher-yielding term deposits.

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BANKING

SEBI has requested banks to provide updates on their progress in implementing the Cybersecurity and Cyber Resilience Framework (CSCRF). Banks are required to share details on the adoption of CSCRF controls and any challenges faced. While the initial deadline was extended twice, SEBI has emphasized that there will be no further extensions beyond June 30, 2025.

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BANKING

Dinesh Kumar, like many others, faced significant losses after investing in Gensol Engineering based on social media influencers' advice. These influencers, some unregistered, promoted the stock without proper disclosures, leading unsuspecting investors into a trap. The Gensol saga highlights the dangers of relying on hype and the importance of due diligence in investment decisions, especially with unregulated financial advice.

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BANKING

Power Finance Corp and IREDA are pursuing legal options to protect their ₹977 crore loan exposure to Gensol Engineering after promoters faced a capital market ban for alleged fund diversion. Sebi's investigation revealed forged letters regarding loan repayments, prompting show-cause notices from the lenders.

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BANKING

The RBI's OMO purchase witnessed robust demand, with bids exceeding the notified amount, indicating banks' eagerness to capitalize on higher bond prices. Longer-tenured bonds were auctioned at a discount, while shorter-tenured bonds traded near market levels. Ample system liquidity, supported by RBI actions, has driven bond yields below 6.40%, with further OMOs planned to maintain stability.

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BANKING

To bolster risk management, banks will increase scrutiny of loans exceeding ₹250 crore, emphasizing post-sanction monitoring. State-run banks will re-engage Agencies for Specialised Monitoring (ASMs) in consortium lending, enhancing early warning systems for fund diversions. These measures align with the government's strategy for early recognition and resolution of stressed assets, promoting prudent lending.

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BANKING

ICRA anticipates that Indian borrowers will benefit from the RBI's proposed 'blended interest rates' for co-lending loans. The draft framework by RBI aims to enhance co-lending regulations, extending coverage to all asset segments and NBFC-to-NBFC arrangements. Borrowers may experience reduced interest rates due to the blended rate calculation.

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BANKING

IDFC FIRST Bank is set to receive a significant capital infusion of Rs 7,500 crore from Warburg Pincus and the Abu Dhabi Investment Authority (ADIA). This investment aims to fuel the bank's next growth phase, building upon its transformation from an infrastructure-focused institution to a technology-driven universal bank.

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BANKING

The Reserve Bank of India is intensifying scrutiny of NBFCs' partnerships with fintech loan service providers (LSPs). RBI officials are directly engaging with LSPs, focusing on KYC compliance, data handling, and customer communication transparency. The regulator is also evaluating concentration risks arising from over-reliance on a few LSPs, concerned about potential systemic vulnerabilities and cybersecurity threats.

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BANKING

ICICI Bank has decreased its savings account interest rates by 25 basis points, mirroring recent actions by HDFC Bank and Axis Bank. This move, aimed at reducing the cost of savings accounts, could improve banks' Net Interest Margin.

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BANKING

Yes Bank has received a demand notice of Rs 244.20 crore for the assessment year 2016-17. The bank plans to file a rectification application with the Jurisdictional Assessing Officer (JAO) immediately, deeming the demand unsubstantiated. Yes Bank will also pursue all available remedies, including filing an appeal against the order.

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BANKING

Financial Intelligence Unit-India (FIU-IND) in its order dated April 15 imposed a penalty of Rs 37 lakh for "discrepancies observed in a matter for the year 2011 to 2014 in reporting of suspicious transaction".

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BANKING

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer to spearhead financial strategy and sustainable growth. Anchliya, with 15 years of experience across finance and M&A, will report to CEO Akash Sinha. His expertise will be crucial as Cashfree scales operations.

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BANKING

India aims to onboard millions to its Unified Payments Interface (UPI) and promote its global adoption. NPCI plans to add 200-300 million users by introducing delegated accounts and expanding features. While UPI's popularity surges, discussions around reinstating transaction fees to ensure viability are ongoing, potentially impacting future growth.

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BANKING

Poonawalla Fincorp Ltd. has entered the gold loan market, aiming to broaden its secured lending options. This new product offers quick, transparent financing for various needs, with approvals promised in under 30 minutes. The company plans to open 400 branches in Tier 2 and 3 cities to tap into the growing demand, focusing on trust and customer service.

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BANKING

Alberta Investment Management Corporation (AIMCo) is in preliminary talks to acquire a significant minority stake in Maple Infrastructure Trust, an Indian infrastructure trust owned by CDPQ. CDPQ aims to raise $300-400 million through this fundraising round, with PSP Investments also in contention.

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BANKING

Under Mudra Yojana, Pankaj Chaudhary said that the government has provided collateral-free loans exceeding Rs 33 lakh crore to 52 crore individuals. These loans, ranging from Rs 50,000 to Rs 20 lakh, have empowered people to start businesses. A significant 68 percent of beneficiaries are women, contributing to economic development.

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BANKING

IPL 2025: The Indian Premier League's popularity fuels a massive gambling market, straining Indian banks' IT infrastructure as they manage a surge in real-time transactions via the Unified Payments Interface. Banks face pressure to maintain seamless service for betting platforms while combating fraud and money laundering.

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BANKING

Bank of Maharashtra (BoM) has lowered its repo-linked lending rate by 25 basis points to 8.80%, following the RBI's rate cut. This reduction will make retail loans, including home and car loans, more affordable for customers. Similarly, Indian Overseas Bank (IOB) also reduced its benchmark lending rate, passing on the benefits to its customers by decreasing the RLLR to 8.85%.

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BANKING

Banks are advocating for a unified insurance repository and shared access to customer data to combat loan fraud involving life insurance policies. This proposal, presented to the government, aims to address the rising instances of fraudulent surrender value certificates and policies already encumbered.

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BANKING

HDFC Capital will invest Rs 1,500 crore in Eldeco Group's 18 upcoming residential projects across tier II-III cities, targeting a revenue potential of Rs 11,000 crore. This partnership aims to develop over 10 million square feet of housing in towns like Panipat, Rudrapur, and Ludhiana.

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BANKING

HDFC Bank has cut its savings account interest rate by 25 basis points to 2.75%, the lowest among private sector peers, effective April 12. This decision follows the RBI's recent repo rate cuts and aims to boost term deposits while managing net interest margins. The move aligns HDFC Bank's savings rate closer to public sector banks like SBI and PNB.

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BANKING

To combat cyber fraud via mule accounts, banks are urging for authority to freeze suspicious accounts swiftly, bypassing lengthy approval processes. The Indian Banks' Association suggests using AI and ML for enhanced monitoring and verifying accounts opened with voter IDs through the Election Commission database.

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BANKING

The Reserve Bank of India has introduced a new framework allowing banks and NBFCs to directly sell stressed assets to investors through special purpose entities, aiming to broaden the distressed debt market. This initiative introduces resolution managers to maximize asset recovery, while lenders must incrementally provision for securitized notes. ARCs may face increased competition, particularly for mid-sized and retail loans.

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BANKING

Indian Overseas Bank has lowered its Repo Linked Lending Rate by 25 basis points, effective immediately. This decision follows the Reserve Bank of India's reduction of the Policy Repo Rate to 6 per cent. The bank's Asset Liability Management Committee decided to pass on the rate cut to customers, reducing the lending rate from 9.10 per cent to 8.

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BANKING

Lenders led by Union Bank of India are set to auction the Rs 700 crore debt owed by Sahara Star Hotel after the insolvency plea was rejected. Banks are seeking all-cash bids after the offer from National Asset Reconstruction Company was deemed too low.

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BANKING

PwC has concluded its accounting review of IndusInd Bank's derivatives portfolio, submitting draft findings to management amidst discrepancies in forex derivative transactions. While the review focused on accounting, Grant Thornton Bharat is conducting a forensic investigation to determine the root cause and accountability for mark-to-market derivative losses.

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BANKING

Private sector banks spearheaded loan pool sales in fiscal year 2024-25, driving securitization volume to a record high of Rs 2.35 lakh crore. This surge represents a 24% year-on-year increase. While overall performance was strong, the fourth quarter saw a dip due to reduced NBFC disbursements amid unsecured loan segment stress.

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BANKING

Anand Rathi Insurance Brokers has appointed Sumit Dutt as its new Chief Executive & Principal Officer. Dutt brings over three decades of experience in insurance and financial services. Anand Rathi Group's Chairman expressed confidence in Dutt's leadership to drive innovation and excellence.

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BANKING

About 60% of commercial bank's loans are pegged to external benchmarks, like the policy repo rate that was lowered the second time in as many months to 6%. For private sector banks, the share of external benchmarks lending rate (EBLR) loans-or advances linked to repo rate-is 85.9%, while for public sector banks it is 44.6%. Effectively, the margins of private banks are expected to be impacted more than PSU banks.

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BANKING

A new report reveals that rising healthcare costs in India are forcing many, even those with insurance, to forgo essential medical treatment. Skyrocketing expenses have led to delayed procedures and worsening health outcomes, particularly affecting women. The report suggests wellness-linked insurance plans and government intervention in pricing as potential solutions to address this growing crisis.

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BANKING

The Reserve Bank of India (RBI) has directed the board of IndusInd Bank to ensure accountability for accounting lapses that triggered a steep drop in the bank’s market value in early March and eroded depositor and investor confidence. Although RBI did not name the bank explicitly during a recent press briefing, Deputy Governor J. Swaminathan said it is standard regulatory practice to initiate forensic audits and accountability reviews in such cases. Those found responsible—internal or external—will be investigated and face appropriate action for the lapses.

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BANKING

The Reserve Bank of India cut the benchmark repo rate by 25 basis points to 6%, prompting banks to lower interest rates for home, auto, and small business loans. This marks a 50 basis points reduction in 2025, including a February cut. The move benefits new borrowers and those with loans linked to external benchmarks like the repo rate.

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BANKING

Claypond Capital, Dr. Ranjan Pai's family investment office, has appointed Sekhar Garisa as Managing Director. Garisa brings two decades of experience from companies like Quess Corp, Microsoft, and P&G. He aims to make Claypond Capital the preferred partner for Indian entrepreneurs, emphasizing an 'Entrepreneur First approach' with long-term commitment.

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