BANKING

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

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

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

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

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

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BANKING

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

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

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

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

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

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

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

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

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

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

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

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

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BANKING

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

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

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

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

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

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

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

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BANKING

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

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

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

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

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

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

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

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BANKING

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

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

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

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

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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