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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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"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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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