BANKING

Banks are proactively setting aside extra funds. This is in preparation for a new expected credit loss framework starting in 2027. Some lenders are also covering anticipated stress in microfinance loans. This move aims to strengthen balance sheets ahead of regulatory changes and potential challenges. Banks are building buffers to meet future requirements.

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BANKING

Get ready for a seamless payment experience with Samsung Wallet, as it will soon enable users to complete small UPI transactions effortlessly using just their fingerprint or face recognition. Say goodbye to memorizing your PIN for those daily payments! Plus, new Samsung smartphones will make it easier than ever to onboard your UPI account right from setup.

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BANKING

India Fintech Foundation has alerted the Finance Ministry and RBI about a major risk on UPI. Two companies now control over 80 percent of UPI transactions. This dominance stifles smaller competitors and limits innovation. The Foundation proposes capping incentives for large players and encouraging partnerships with smaller ones. This aims for fairer growth and better competition on the UPI platform.

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BANKING

Citibank plans to significantly increase its capital deployment in India as it broadens its focus on the country. Viswas Raghavan, Citi's head of banking, highlighted that Indian companies are increasingly pursuing international deals, and Citi is poised to support these ambitions with both advice and capital.

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BANKING

CPP Investments' India portfolio has tripled to nearly $21 billion. India is now its third-largest Asian market. The fund is exploring new infrastructure like green ammonia and EVs. CPP Investments is focused on long-term fundamentals. It sees significant opportunities in India's dynamic economy. The fund aims to deliver strong returns and build lasting partnerships.

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BANKING

The Reserve Bank of India has proposed measures to speed up cross-border inward remittances, aiming for same-day credit to beneficiaries' accounts. Banks will be required to reconcile nostro accounts near real-time and implement straight-through processing for faster settlements, with new guidelines taking effect six months after finalization.

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BANKING

September saw record spending on credit cards and a surge in new card additions. Festivals and tax cuts fueled domestic consumption. Total monthly card spends exceeded ₹2.16 lakh crore, a significant year-on-year increase. E-commerce spending was particularly strong. This trend is expected to continue into October with ongoing festive promotions and discounts.

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BANKING

New banking rules empower customers to nominate up to four people for their accounts, lockers, and safe deposit articles. These changes, effective November 1, offer greater flexibility. Depositors can now nominate minors, with an adult appointed to manage funds on their behalf. The framework replaces older rules, simplifying the nomination process for all bank customers.

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BANKING

Life Insurance Corporation of India has denied allegations from The Washington Post. The insurer states it neither issued nor received documents suggesting external influence on its investments in the Adani Group. LIC maintains all investment decisions are made independently and with due diligence. This is the second denial from LIC regarding the report.

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BANKING

HR technology firm PeopleStrong on Tuesday named Dinesh Kumar Khara, former chairman of State Bank of India, as chairman of its board with immediate effect. CEO Sandeep Chaudhary said the appointment marks a key milestone in the company’s goal to build a world-class SaaS enterprise.

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BANKING

Jana Small Finance Bank said on Tuesday that the Reserve Bank of India (RBI) has returned its application to transition into a universal bank, citing non-fulfilment of required criteria. Managing Director and CEO Ajay Kanwal said the communication from the RBI, received on Monday evening, did not specify the exact reasons.

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BANKING

Reserve price has been set at ₹80 cr. Other lenders are weighing the future as litigations continue to delay bankruptcy resolution.

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BANKING

India is set to significantly increase foreign investment limits in its state-run banks. The government is considering raising the cap to 49 percent from the current 20 percent. This move aims to attract more capital and align regulations with those for private banks. The Reserve Bank of India is involved in these discussions.

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BANKING

Indian insurance payments surged 14% week-on-week and 35% year-on-year during the festive season, driven by a 0% GST reform and early spending. UPI dominated, while credit cards saw a strong comeback for higher-value policies, and monthly premium plans gained traction, indicating insurance is now a key part of festive planning.

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BANKING

Toru Nakashima, the global CEO of Sumitomo Mitsui Banking Corporation, recently engaged with employees at Yes Bank, emphasizing his commitment to their future. He conveyed a message of confidence regarding job security and anticipated growth, following SMBC's recent acquisition of a 20% stake in the bank.

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BANKING

State Bank of India is set to recruit approximately 3,500 officers to strengthen its operations. The bank is also focusing on increasing its women workforce to 30 percent within the next five years. This initiative aims to enhance gender diversity across all levels of the organization. SBI is implementing various programs to support women employees and foster leadership opportunities.

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BANKING

Life Insurance Corporation of India (LIC) has vehemently denied a Washington Post report alleging government pressure to invest $3.9 billion in Adani Group companies. LIC stated that no such proposal was ever drafted by officials, calling the report false and baseless. The insurer's recent investment in Adani Ports and SEZ bonds had previously drawn criticism from opposition parties.

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BANKING

The Reserve Bank of India is proposing significant changes to lending against securities. Individuals can now borrow up to Rs 1 crore against shares and debt mutual funds. The loan to value ratio for loans against shares will increase to 60 percent, and for debt mutual funds to 75 percent.

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BANKING

Insurers are renegotiating terms with distributors. This follows the government's GST exemption for individual life insurance policies. The change has disrupted commission structures and profitability. Large distributors are protecting margins. Smaller intermediaries and agency networks may face challenges. Companies are adjusting operations and engaging with distributors to manage the impact.

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BANKING

The Indian financial market is buzzing with activity, witnessing an impressive wave of transactions worth $8 billion. Foreign banks are stepping up their game, securing major stakes in local lenders. This influx of capital underscores an exciting chapter in India's economic narrative, as leading players broaden their horizons and enhance their market clout.

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BANKING

Federal Bank's Board has approved the sale of a 9.99% stake to a Blackstone affiliate for Rs. 6,196.5 crore through preferential equity shares and warrants. This strategic transaction will see Asia II Topco XIII Pte. Ltd. acquire the stake, with the bank also granting Blackstone the right to nominate a director upon warrant exercise.

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BANKING

Banking system liquidity turned negative for the first time in a month, primarily due to Reserve Bank of India's foreign exchange intervention in the spot market. Currency leakage during the festive season also contributed to the deficit, leading to a gap of ₹52,299.7 crore as of October 22.

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BANKING

In a remarkable expansion of its wealth management portfolio, Choice International Ltd has made key acquisitions that solidify its position in the investment landscape. The takeover of Fintoo Group's distribution arm injects a notable Rs 300 crore in assets into their operations.

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BANKING

State Bank of India has been honored with two prestigious Global Finance awards: World's Best Consumer Bank 2025 and Best Bank in India 2025. These accolades recognize SBI's commitment to innovation, financial inclusion, and customer excellence, highlighting its technological leadership and extensive service reach across India.

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BANKING

Small finance banks have approached the Reserve Bank of India with key requests. They want the regulator to ease a rule requiring half their loans to be under ₹25 lakh. They also seek permission to participate in co-lending arrangements. These changes aim to help SFBs expand their reach and serve more businesses, particularly MSMEs.

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BANKING

In a significant ruling, a Mumbai court has denied bail to Hitesh Mehta, the former general manager of New India Co-Operative Bank, who faces serious allegations in a Rs 122-crore embezzlement scheme. The court highlighted the extensive financial implications and the gravity of the charges against him.

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BANKING

DBS Bank India CEO Rajat Verma outlines plans to significantly boost retail and SME banking, aiming for these segments to eventually comprise over 50% of its loan book. The bank is focusing on growth in gold loans and mortgages, alongside expanding its corporate and wealth management offerings, leveraging its global expertise.

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BANKING

Indian banks face a transformative decade ahead. Technology, especially AI, will be key. Changes in deposits and credit access are expected. Banks must adapt to new risks like cyber threats and climate change. This period will be a fight for relevance. Strong digital infrastructure and government support provide a good base.

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BANKING

Eight of the 24 banks reporting Q2 earnings have seen sequential improvements in net interest margins (NIMs), signaling a potential bottoming out of this key profitability metric. Indian Overseas Bank led the pack, with its NIM rising 21 basis points to 3.21% following a business re-engineering initiative that increased MCLR-linked loans. Federal Bank also reported strong growth, with NIM up 12 basis points to 3.06%.

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BANKING

Emirates NBD is gearing up for a bold investment in RBL Bank, a decision that promises to infuse the bank with vital financial vigor. Market analysts are eagerly awaiting the green light from regulators and insight into the strategic vision from the new ownership.

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BANKING

Punjab National Bank anticipates a 90 billion rupee impact from new credit loss rules by 2031. The Reserve Bank of India's expected credit loss framework requires banks to set aside funds for potential defaults. This transition will affect the bank's capital to risk assets ratio. However, PNB expects to manage these requirements through its operational profits.

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BANKING

Indian banks are attracting significant foreign investment, with billions of dollars flowing into the sector. Deals worth approximately $15 billion have been struck this year. Global investors are seeking opportunities in India's rapidly growing economy. This trend highlights the country's stable financial system and robust regulators. Policymakers are also exploring ways to further encourage foreign investment.

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BANKING

Government is urging public sector banks to tackle employee stress. This follows concerns over work pressure, targets, and staff shortages. Banks must now identify issues and create clear action plans. These efforts will be part of the EASE 8.0 reforms agenda. The focus is on building a resilient and engaged workforce. Banks are launching well-being initiatives and health index surveys.

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BANKING

Emirates NBD is acquiring a 60% stake in RBL Bank for $3 billion. This significant deal will allow RBL Bank to launch a wealth management business. The transaction is expected to be completed in five to seven months. RBL Bank will become a listed subsidiary of Emirates NBD. This move strengthens India's midsize banks and attracts foreign investment.

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BANKING

HDFC Bank sees artificial intelligence as an opportunity, not a threat to jobs. The bank's chief executive Sashidhar Jagdishan believes AI will help redeploy staff from backend operations to customer-facing roles. This strategic shift aims to enhance customer engagement and innovation. HDFC Bank is conducting experiments with generative AI, expecting benefits in the next 18 to 24 months.

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BANKING

A Belgian court has approved the extradition of fugitive diamantaire Mehul Choksi to India, a key figure in the 2018 PNB scam. Choksi's international journey involved fleeing India, settling in Antigua, a mysterious disappearance, and subsequent arrest in Dominica. His extradition marks a significant step towards his trial in Indian courts.

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BANKING

Karur Vysya Bank achieved a significant milestone, crossing Rs 2 lakh crore in total business by the end of the July-September 2025 quarter. The bank reported a net profit of Rs 574 crore for the quarter, a notable increase from the previous year.

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BANKING

Small finance banks reported lower profits this quarter. Higher credit costs and expenses impacted their earnings. AU Small Finance Bank, Jana, and Ujjivan all saw their net interest margins contract. Despite these challenges, the banks expressed confidence in improving credit quality from unsecured lending in the coming months. Loan books showed growth, with a focus on secured assets.

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BANKING

Public sector banks Uco Bank, Central Bank of India, and Bank of India reported increased net profits in the September quarter, driven by higher interest income and reduced provisions. Despite a dip in net interest margins, all three banks saw loan growth outpace deposit growth, indicating a positive operational trend.

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BANKING

IndusInd Bank on Friday clarified that the reported Rs 255 crore accounting irregularity is not part of any new investigation. The figure was included in a report submitted by an independent external agency in April 2025. In a filing, the bank said it has made all necessary disclosures and reflected the impact of these discrepancies in its audited FY 2024-25 financial statements.

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BANKING

Sumitomo Mitsui Banking Corporation has decided to cap its investment in Yes Bank at 24.99%, choosing to solidify its presence as the principal shareholder without stepping into an executive role. The Japanese lender is dedicated to overseeing Yes Bank's progress in tackling essential issues, with their current stake at 24.2%. This decision highlights SMBC's focus on governance and strategic guidance.

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BANKING

Mumbai police's EOW is investigating IndusInd Bank for alleged accounting irregularities, focusing on Rs 255 crore in unsubstantiated entries. These entries, unearthed by a forensic auditor, are suspected to have been used to inflate net income and overstate assets. Key management personnel are being summoned to explain these findings.

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BANKING

Sanjay Malhotra, the chief of India's Reserve Bank, is on a mission to enhance global access to digital platforms that serve the public good. He brought attention to MOSIP, India's innovative open-source digital identity solution, gaining traction in 27 countries. The RBI is also integrating India's UPI with payment systems from various nations to streamline cross-border remittances.

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BANKING

The National Company Law Tribunal has ordered the corporate insolvency resolution process (CIRP) against Wind World (India) Infrastructure following a default on dues to IDBI Bank. The company, a subsidiary of the already distressed Wind World India Limited, argued its revenue source was cut off by its parent's resolution professional.

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BANKING

Pahal Financial Services has acquired a Rs 700-crore loan portfolio and its delivery network from Sub-K Impact Solutions. This strategic move significantly boosts Pahal's book to Rs 2300 crore, positioning it among the top NBFC-MFIs. The acquisition expands Pahal's reach into four new states, while Sub-K will continue its customer service point operations.

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BANKING

The Reserve Bank of India's new T+0 cheque clearing system is now stable. Initial problems encountered during the transition have been resolved. The National Payments Corporation of India is working with banks to address any remaining issues. This ensures same-day credit for presented cheques. The system was launched on October 4.

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BANKING

In a bid to enhance investor experience, the Investor Education and Protection Fund Authority is set to evaluate a proposal that would streamline the transfer process for small investors holding outdated shares. The initiative intends to allow swifter transfers for physical shares worth up to ₹5 lakh and dematerialised shares valued at ₹15 lakh.

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BANKING

A bank employees' union has raised concerns about the new same-day cheque clearing system, citing software glitches and inadequate staff training that are causing extended work hours and impacting customer service. The National Payments Corporation of India acknowledged "teething issues" but stated most problems have been resolved.

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BANKING

RBL Bank has denied a news report about Emirates NBD Bank seeking a majority stake. The bank stated the article's contents are incorrect. RBL Bank is on a growth path and explores opportunities to boost shareholder value. Such discussions do not require immediate disclosure. RBL Bank shares touched a 52-week high following the report.

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BANKING

NPCI International Payments Ltd (NIPL) has partnered with NTT DATA Japan to enable UPI acceptance in the Japanese market. This collaboration will allow Indian tourists to make seamless QR code payments at merchant locations acquired by NTT DATA. The MoU aims to enhance the digital payment experience for Indian travelers in Japan.

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BANKING

EnerGrid is seeking substantial funding to develop new greenfield transmission and battery energy storage projects across India. This initiative aims to strengthen the national grid and support the energy transition. The platform, backed by KKR, BII, and Norfund, has already launched a significant battery project in Gujarat.

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BANKING

State Bank of India is boosting gender diversity. The bank plans to reach 30 percent women in its workforce in five years. SBI is implementing programs for women's leadership and work-life balance. Initiatives include creche allowance and return-to-work training. Focused health screenings and a vaccination drive are also in place. SBI is committed to an inclusive environment for all employees.

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BANKING

The Reserve Bank of India has appointed Sonali Sen Gupta as its new Executive Director, effective October 9, 2025. With over three decades of experience at the central bank, Sen Gupta will now lead crucial departments including Consumer Education and Protection, and Financial Inclusion.

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BANKING

The gold loan market is set to reach Rs 15 lakh crore by March 2026. Banks are leading this growth, expanding their market share significantly. Rising gold prices are a key factor in this accelerated expansion. The market is projected to further grow to Rs 18 lakh crore by FY2027. This indicates a robust future for the sector.

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BANKING

Money20/20 USA returns to Las Vegas, uniting banking, AI, payments, and policymaking leaders to "Create the Future." The event will explore digital assets, AI's impact, and the blurring lines between traditional and digital finance. Keynotes from U.S. Bank and BNY, alongside discussions on AI, humanitarian finance, and stablecoins, will shape the industry's next quarter.

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BANKING

HSBC has committed $1 billion to fund Indian startups through its innovation banking platform, offering working capital and term loans. This expansion, following the UK Silicon Valley Bank acquisition, marks India as the 13th market with a dedicated startup program.

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BANKING

New banking rules for credit loss provisions will have limited impact. The Reserve Bank of India has proposed a phased implementation starting April 2027. Banks will have four years to adjust existing loans. State Bank of India chairman CS Setty confirmed the bank is technologically prepared for these upcoming changes.

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BANKING

RBI Governor Sanjay Malhotra highlighted the crucial role of the account aggregator framework and the new unified lending interface (ULI) in expanding credit access for the under-served. These initiatives aim to enhance interoperability and leverage richer financial data, strengthening the credit delivery ecosystem and fostering financial inclusion.

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BANKING

India’s digital payment story is now one of balance -- between instant UPI transfers and credit-driven purchases, between small daily spends and aspirational big buys. As the festive season continues, that balance is likely to tilt further toward credit as consumers chase offers, cashbacks, and the ease of paying later.

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BANKING

Reserve Bank of India's new credit risk rules and expected credit loss framework will not greatly affect bank balance sheets. State Bank of India's chairman stated this is due to a long transition period. The proposals aim to align India's banking rules with global standards. Banks will classify loans based on credit risk.

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BANKING

London-based digital finance firm Revolut is launching its payment platform in India, marking its entry into a major digital payments market. The platform will facilitate domestic and international payments through partnerships with Unified Payments Interface and Visa, with a goal of acquiring 20 million customers by 2030.

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BANKING

Starting October 8, India will allow users to authenticate Unified Payments Interface (UPI) transactions through facial recognition and fingerprints, using Aadhaar-based biometric data, sources said. The move follows new RBI guidelines permitting alternative authentication methods and replaces the current PIN-based system. The NPCI plans to showcase the feature at the Global Fintech Festival in Mumbai.

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BANKING

The Reserve Bank India will use the wholesale leg of its central bank digital currency (CBDC) as the underlying layer for the exercise, RBI chief general manager Suvendu Pati said on Tuesday.

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BANKING

Sammaan Capital is set to significantly expand its affordable housing loan offerings. A substantial $1 billion investment from Abu Dhabi's International Holding Company will fuel this growth. The company aims for 1 trillion Indian rupees in assets under management by financial year 2027. This strategic move involves opening numerous new branches, primarily in smaller cities and suburban areas.

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BANKING

Microfinance interest rates are rising, defying the general trend of declining rates, as lenders grapple with increased credit costs and persistent asset quality issues. Major NBFC-MFIs have hiked their lending rates, widening the range to 18-28% due to higher delinquency and funding costs.

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BANKING

The Reserve Bank of India's October policy measures offer major relief to non-banking financial companies. A Morgan Stanley report confirms this supportive stance. The RBI removed business overlap restrictions for bank-promoted NBFCs. It also reduced risk weights on infrastructure project lending. These steps benefit infrastructure-focused NBFCs such as Power Finance Corporation and REC Limited. The repo rate remains unchanged.

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BANKING

Bank of Maharashtra reported strong financial performance. Credit growth reached 16.8 percent in the second quarter. Total advances stood at Rs 2.17 lakh crore. Deposits increased by 12.1 percent to Rs 3.09 lakh crore. The bank's total business rose 14.2 percent. CASA ratio improved to 50.35 percent. These figures reflect robust growth.

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BANKING

ECL is a forward-looking accounting standard that requires banks to make provisions on expected losses based on past asset quality, instead of incurred loss-based provisioning. The already created buffer would come into play from the first quarter of FY28. "Banks with higher floating and contingent provisions would be less impacted by the ECL provisioning norm. Typically, a few large private banks have built material floating provisions as compared to their public sector peers," Icra senior vice president and co-group head Anil Gupta told ET.

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BANKING

Truhome Finance is receiving an additional Rs 500 crore from Warburg Pincus, bringing total investment to over Rs 2,000 crore. The affordable housing lender plans aggressive growth, targeting Rs 23,000 crore AUM by fiscal end, while maintaining strong asset quality and expanding its tech and branch network, primarily serving the self-employed segment.

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BANKING

Punjab & Sind Bank has shown strong financial growth. Loans have increased by 16.1 percent to Rs 1.05 lakh crore in the second quarter of FY26. Gross advances stand at Rs 91,032 crore by September 2024. Total deposits have risen to Rs 1.35 lakh crore. The bank's total business has grown by 12.2 percent. Credit deposit ratio stands at 77.

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BANKING

UCO Bank reported strong financial growth for the second quarter of FY26. Credit expanded by 16.6 percent, reaching Rs 2.31 lakh crore. Total deposits increased by 10.8 percent to Rs 3.06 lakh crore. The bank's overall business grew 13.2 percent, touching Rs 5.37 lakh crore. Its credit deposit ratio also rose to 75.56 percent.

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BANKING

HDFC Bank reported a 9% rise in loans to Rs 27.9 lakh crore and a 15.1% growth in deposits to Rs 27.1 lakh crore for the second quarter ended September 30. Meanwhile, Kotak Mahindra Bank also saw robust growth, with credit increasing by 15.8% to Rs 4.62 lakh crore and deposits rising 14.6%.

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BANKING

Union Finance Minister Nirmala Sitharaman launched a campaign in Gandhinagar. The initiative aims to return 1.84 lakh crore rupees in unclaimed financial assets. These funds are with banks and regulators. The three-month Apki Poonji, Apka Adhikar campaign will focus on awareness, access, and action. Officials will ensure rightful owners claim their money. The RBI's UDGAM portal will assist claimants.

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BANKING

Life insurers face a similar squeeze. The industry paid about ?24,000 crore in GST in FY24, offset by ? 14,000 crore of ITC. With credits no longer available, the new two-rate system leaves them facing a ?15,000 crore sector-wide hit, part of which will show up in company profit and loss accounts and embedded values. Despite the exemption, customers may not see a meaningful drop in premiums as insurers adjust pricing to recoup lost credits, analysts said.

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BANKING

For years, banks were barred from financing mergers and acquisitions through equity purchases, curbs that were put in place to prevent leverage buyouts. While banks could lend against hard assets such as plants, brands, and factories, they were not permitted to fund share purchases that gave acquirers control of firms.

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BANKING

International Holding Company acquired a 42 percent stake in Sammaan Capital. This investment will provide stability and operational advantages. Sammaan Capital will expand its NBFC products and offerings. The company will use technology and access a global network. Sammaan Capital plans to achieve an AUM of one lakh crore by 2027. It will prioritize middle and lower-income customers.

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BANKING

Abu Dhabi-based Avenir Investment RSC, an affiliate of International Holding Company, has agreed to acquire a 43.46 per cent stake in Sammaan Capital for USD 1 billion through preferential share issuance. This significant primary capital infusion marks IHC's entry into India's financial services, aiming to fuel Sammaan Capital's growth and improve its financial standing.

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BANKING

The Reserve Bank of India will permit banks to finance corporate acquisitions. It will also remove the cap on large corporate exposures. These regulatory changes are set to unlock significant lending opportunities. Over Rs 5 lakh crore in new credit demand is expected. Banks will fund corporate mergers and expansion plans. This move will reshape India's corporate funding landscape.

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BANKING

Abu Dhabi-based International Holding Co. (IHC) is set to acquire a 40–45% controlling stake in Sammaan Capital Ltd, formerly Indiabulls Housing Finance, for about $1 billion, according to people aware of the deal. The UAE conglomerate, backed by Sheikh Tahnoon bin Zayed Al Nahyan, is expected to make an open offer for an additional 26%, which could raise its ownership beyond 65%.

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BANKING

The RBI proposed expanding services for basic savings bank deposit (BSBD) accounts, including digital banking, cheque books, and unlimited free digital transactions like UPI. This aims to promote cashless inclusion for low-income customers by March 2026. Additionally, the ombudsman scheme will be strengthened to cover rural cooperative banks for improved grievance redressal.

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