BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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