BANKING

"One of the big wins we had was with the department of post. This was a former customer of AGS, and when they shut down, the department decided to close their sites and relaunch," said Anush Raghavan, chief business officer, CMS, in an interaction with ET. "We helped evacuate the old ATMs, won the contract, and are now deploying 1,000 new machines across post office locations."

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BANKING

Data reveals a shift in insolvency case initiations, with operational creditors now trailing financial creditors for the first time since fiscal 2017, suggesting a growing preference for out-of-court settlements. While financial creditors initiated slightly more cases overall, operational creditors dominated resolutions for smaller defaults, indicating a strategic approach to debt recovery. Cumulatively, creditors recovered ₹3.96 lakh crore in resolved cases.

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Spandana Sphoorty Financial faces a challenging recovery due to leadership changes and high employee turnover, impacting operational efficiency. Rating agencies have downgraded the microfinancier's debt instruments following significant losses and a sharp decline in assets under management. The company anticipates continued losses and pressure on performance despite recent capital infusion through a rights issue.

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IndusInd Bank shareholders rejected a resolution allowing the Hinduja Group to appoint two nominee directors, with 54% voting against it. Despite prior approvals from the RBI and the bank's board, concerns raised by proxy advisors led to the proposal's defeat.

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BANKING

CMS Infosystems is aggressively expanding its AI-powered remote monitoring solutions, projecting AI to contribute 10% of revenues by FY27. Their HAWKAI platform monitors over 30,000 ATM sites, and the acquisition of Securens Systems will boost their coverage to 45,000 sites. CMS is investing heavily in AI and targeting growth in BFSI and new sectors.

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RBI economists' study reveals a 6% decline in private sector project sanctions by banks and financial institutions in FY25, totaling Rs 3.67 lakh crore. Despite lower investment announcements and cautious optimism, greenfield projects dominate, signaling potential capacity expansion. Private sector capital expenditure is projected to rise 21% in FY26.

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BANKING

Sumitomo Mitsui Banking Corp or SMBC will invest sixteen thousand crore rupees in Yes Bank. The investment will be through equity and debt. This will strengthen Yes Bank's balance sheet. SMBC will also acquire a twenty percent stake in the bank from existing shareholders. The deal awaits regulatory approvals. This move is expected to improve Yes Bank's financial standing.

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For Indian banking, the focus will now be on adjusting to the new interest rate environment and leveraging the anticipated increase in liquidity to improve their financial performance in the coming months. While the initial quarter has presented challenges, the outlook for a rebound in net interest margins could signal a turning point for the industry.

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The Reserve Bank of India (RBI) is considering stricter rules for shadow lenders, aiming to curb overlapping business activities between parent companies and their subsidiaries. This move aligns with existing regulations proposed for banks and seeks to mitigate risks within the non-banking finance sector.

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BANKING

Indian banks are exercising caution as the 50% US tariff takes effect, but leading bankers anticipate a limited impact on credit growth and asset quality due to small export credit outstanding. While certain sectors like gems & jewellery and textiles face higher exposure, the government is expected to provide fiscal relief, and exporters will likely diversify into new markets.

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AIBOC has criticised the government's decision to privatise IDBI Bank, calling it a betrayal of parliamentary assurances made in 2003. The organisation argues that privatisation equates to selling people's savings and weakening the public banking network. The government and LIC jointly own 95% of IDBI Bank, with 60.72% stake set for sale.

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The General Insurance Council (GIC) has criticized the Association of Healthcare Providers India (AHPI) for discontinuing cashless hospitalization for Bajaj Allianz General Insurance and Care Health Insurance customers, deeming it disruptive and harmful. AHPI's decision, driven by disputes over reimbursement rates amid rising medical costs, will require patients to pay upfront and seek reimbursement later.

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Expenditures climbed 5.5% from June to Rs 1.93 lakh crore, which was a third higher than in July last year, the Reserve Bank of India (RBI) data showed. Net new card additions in July hit a five-month high at 425,000, taking the total tally to 111.6 million. The industry had reported a marginal contraction of 235 cards in June.

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Reserve Bank of India directs banks to monitor funds from Pakistan. The concern is that these funds may be used for arms purchases. Indian agencies investigated after a military conflict in May. They found Pakistan nationals sending money via other countries. Pakistan is labeled a 'high risk' jurisdiction. A report accuses a Pakistan entity of evading sanctions.

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BANKING

Stress is rising in micro, small, and medium enterprises and vehicle finance. MSME borrowers with multiple loans are increasing. Portfolio at risk is also up for unsecured business loans. Micro MSME loan defaults are a concern for NBFCs. Smaller SME loans face growing stress. Banks report more high-risk borrowers. Unsecured personal loan defaults are significantly higher than before.

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BANKING

The banking sector's loan loss provisioning surged to a three-year high in the June quarter, driven by increased provisioning from private sector banks. While private banks saw a significant rise, public sector banks reported a decline in provisioning. This increase was influenced by one-off provisioning events and policy changes at certain banks.

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The Reserve Bank of India has approved Sumitomo Mitsui Banking Corporation's (SMBC) application to acquire up to 24.99% stake in Yes Bank, clarifying that SMBC will not be classified as a promoter. SMBC is set to initially acquire a 20% stake from existing investors, including SBI and other private banks, valued at ₹13,500 crore.

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BANKING

Sumitomo Mitsui Banking Corporation (SMBC) has secured approval from the Reserve Bank of India to acquire up to 24.99% of Yes Bank. The deal, initially set at a 20% stake for $1.6 billion, marks a significant cross-border M&A transaction in India's financial sector. The RBI has also decided that SMBC will not be considered a "promoter" of Yes Bank post-acquisition.

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In protection products, commissions initially range between 35% and 40% before tapering off, averaging about 5-6% over time. On top of this, insurers incur about 10% in other expenses. Currently, service tax of around 2% on such costs is offset through input tax credits. If GST exemptions remove that credit, insurers will have to bear the additional expense.

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The RBI's Central Board has approved the nomination of Executive Director Indranil Bhattacharyya as an ex-officio member of the Monetary Policy Committee (MPC). During the 618th meeting, the board reviewed the global and domestic economic environment, including geopolitical developments and financial market challenges. The board also assessed the functioning of select central office departments, board committees, and the Ombudsman Scheme.

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BANKING

Care Edge Ratings reports a significant improvement in Indian banks' asset quality for Q1FY26. Gross NPAs fell to 2.3%, driven by better asset management and recoveries, though microfinance and unsecured loans showed some stress. Despite a slight sequential increase in NPAs, the overall structural improvement is evident, with NNPA ratios at a post-AQR low of 0.5%.

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Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.

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India's Banking, Financial Services, and Insurance sector is poised for significant expansion. Hiring is expected to increase substantially in the coming years. Nearly 2.5 lakh permanent positions will be created by 2030. Demand is growing in tier II and III cities. This shift is away from metro-centric recruitment. Companies are seeking candidates with local language skills.

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A parliamentary panel has suggested standardised cancer diagnostic packages under government insurance to broaden inclusion. It has advocated extending price caps to cancer vaccines and immunotherapy, promoting public-private partnerships for advanced hospitals, and establishing screening centers.

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Indian microfinance companies are focusing on cleaning up their balance sheets. They are writing off bad loans earlier to improve their financial health. CreditAccess Grameen, Fusion Finance, and Muthoot Microfin are among the companies adopting this strategy. Fusion Finance has even revised its write-off policy.

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The finance ministry convened a meeting with public sector bank heads to assess their Q1 FY26 financial performance, revealing a collective record profit of Rs 44,218 crore, marking an 11% year-on-year increase. SBI contributed significantly, while IOB and Punjab & Sind Bank showed substantial profit growth. The ministry urged banks to boost lending to productive sectors.

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The National Housing Bank is intensifying its scrutiny of housing finance companies due to breaches in loan-to-value regulations, particularly for high-value home loans exceeding ₹75 lakh. Lenders are found to be disbursing loans up to 90% LTV, violating the stipulated 75% cap.

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The government is urging private sector banks to increase their involvement in key financial inclusion initiatives like Jan Suraksha and SLBCs. Concerns have been raised about the insufficient engagement of some private banks, hindering the effectiveness of these programs. The government is emphasizing the need for faster claim settlements and improved banking infrastructure in rural areas and the Northeast.

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The Supreme Court has denied Dheeraj Wadhawan's request for more time to surrender. He is accused in a major bank loan fraud. The court had previously cancelled his medical bail. Wadhawan must now surrender. However, the court has directed the CBI and jail authorities to ensure he receives regular medical checkups at AIIMS.

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The NCLT Mumbai has declared Kapil Wadhawan, the former chairman of DHFL, bankrupt following a petition by Union Bank of India to recover ₹4,546 crore. This order was issued after Wadhawan failed to submit a repayment plan. Sanjay Kumar Mishra has been appointed as bankruptcy trustee to manage the distribution of Wadhawan's estate.

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A State Bank of India report suggests India requires a domestic UPI application. This app will help leverage data and reduce dependence on foreign platforms. Currently, PhonePe leads in UPI transactions, followed by Google Pay and Paytm. The report highlights that concentrating transactions among a few apps may hinder India-centric fintech innovation.

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The revised accounting policy helped Sammaan Capital's report ?661.6 crore gains. In contrast, Axis Bank, which tightened its policy, made additional provisioning of ?614 crore, impacting its earnings. Bandhan Bank implemented procedural changes in the collection of dues, which led to marginal rise in stressed loans, although it did not immediately impact its earnings.

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Fusion Finance has strengthened its leadership team with key appointments. Rajeev Sardana, a veteran with 30 years of retail lending experience at HDFC, joins the board as an independent director. Sanjay Garyali, the current CEO, has been appointed as a whole-time director for five years, a move approved by the Reserve Bank of India.

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Economist Jeffrey Sachs has strongly criticized the US administration's tariffs on India, calling them a pressure tactic and "bizarre." He argues that these tariffs undermine US-India relations and violate international law. Sachs suggests India should focus on partnerships with BRICS nations, who advocate for a multipolar world, while navigating the US trade policies.

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BANKING

State Bank of India and Union Bank of India have increased home loan rates, signaling a potential shift towards higher interest rates in the market, particularly affecting borrowers with lower credit scores. This move comes amid concerns over low-profit margins and increased competition, with private lenders expressing reservations about aggressive pricing strategies employed by public sector banks.

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BANKING

Prime Minister Modi announced on Independence Day that India's UPI handles 50% of global real-time transactions, calling it a 'wonder'. With 1,947 crore transactions processed in July 2025 alone, UPI is now operational in seven countries, including France, marking its European debut.

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BANKING

S&P Global Ratings upgraded the ratings of ten Indian financial institutions, including SBI and HDFC Bank, following an upgrade to India's sovereign credit rating. The improved ratings reflect expectations of continued economic growth, enhanced capitalization, and reduced credit risk within the Indian banking sector. The insolvency and bankruptcy code has also improved the payment culture.

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AU Small Finance Bank is partnering with Korn Ferry to develop a succession strategy as it transitions into a universal bank and shifts its base to Mumbai. The advisory firm will identify talent for key roles and create a succession plan for MD Sanjay Agarwal.

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BANKING

ICICI Bank has significantly lowered its minimum average balance requirement for savings accounts, responding to customer feedback. The revised MAB now stands at Rs 15,000 for metro and urban areas, with lower thresholds for semi-urban and rural locations. This decision contrasts with moves by several state-owned banks to eliminate such penalties altogether, while HDFC Bank maintains its existing balance norms.

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HDFC ERGO General Insurance has partnered with PhonePe to introduce an affordable health insurance plan targeting India's 'missing middle'. This collaboration leverages PhonePe's digital platform to offer accessible and comprehensive health coverage, with premiums starting at Rs 12 per day for Rs 3 lakhs coverage. The policy is designed for individuals aged 18-30, many of whom are new to insurance.

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The Economic Offences Wing has launched a preliminary inquiry into alleged accounting irregularities at IndusInd Bank. This investigation centers on a ₹1,960 crore loss attributed to mis-accounting of derivative trades, involving Arun Khurana, the bank’s former Deputy CEO. Executives are also suspected of trading the bank’s shares before the lapses were publicly disclosed.

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Avendus Future Leaders Fund and SBI Life Insurance have collectively invested ₹300 crore in Aragen Life Sciences, acquiring a 2.5% stake in the company. This secondary deal, valuing Aragen at ₹12,200 crore, involved stake dilution by the Reddy family. The investment highlights the attractiveness of India's pharmaceutical sector as a global hub for outsourcing manufacturing and drug development research.

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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BANKING

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

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