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Public sector banks are now originating more unsecured personal loans. They focused on larger loan amounts, especially over Rs 10 lakh. This shift occurred as banks had extra money and sought higher returns. Non-banking finance companies still lead in small loans but saw their share decrease. Private banks also experienced a slight decline in their origination share.

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Unified Payments Interface, or UPI, has seen a significant surge in transactions. In November 2025, UPI recorded over 19 billion transactions valued at Rs 24.58 lakh crore. This marks a substantial increase from previous years, highlighting the growing adoption of digital payments across India. The platform continues its upward trajectory, solidifying its role in the nation's payment ecosystem.

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State Bank of India anticipates a strong revival in corporate credit demand, projecting double-digit growth for the remainder of the financial year. The bank has a substantial loan pipeline, indicating robust activity.

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Health insurance policyholders in India are facing a surge in claim rejections and disputes, leading to a crisis of trust. Despite paying premiums, many find their claims denied on technicalities, forcing them into lengthy battles with insurers. Regulatory interventions are underway to improve transparency and speed up resolutions.

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The Delhi High Court has issued new directions to safeguard credit card users after a city lawyer faced harassment over unauthorised transactions. The court told the Reserve Bank of India to improve its grievance redress system and barred banks from levying charges on disputed transactions until complaints are resolved.

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Hong Kong's Excellence Creative intends to acquire a 25% stake in Pro Fin Capital Services for Rs 22 per share. Pro Fin's board has approved this proposal and a bonus share issuance, pending shareholder consent. The company is now proceeding with due diligence for the potential transaction.

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Amazon and Flipkart are moving deeper into financial services in India, targeting small businesses and consumers with new lending products as they challenge traditional banks. Amazon, after acquiring non-bank lender Axio, plans to restart small-business loans and offer cash-management tools, seeing strong demand among digitally active merchants outside major cities.

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Bandhan Bank is offloading bad loans worth Rs 6,932 crore to improve its balance sheet, focusing on micro and agriculture loans. The Kolkata-based lender is selling non-performing loans exceeding 180 days overdue and auctioning written-off loans to address significant stress in its asset quality, which has impacted profitability.

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Any incremental growth is likely going to be driven by a pickup in retail lending segments such as housing, MSME, two-wheelers, and gold loans. But analysts expect the asset quality to remain stable, despite growing retail demand. The agency has upgraded its credit growth outlook to 11.5%-12.5% for FY26, up from an earlier average growth of 11.13% in FY25. The Gross non performing assets (GNPA) for overall banks is expected to improve to 2.1% in FY26 from 2.3% in FY25.

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Gopal Vittal from Bharti Airtel emphasizes the importance of safer digital payment practices for consumers. He encourages individuals to create a separate secondary account dedicated exclusively to everyday transactions. This proactive approach safeguards personal savings against the backdrop of increasingly clever online frauds.

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Equirus Group has appointed Manishkumar Jain as the Chief Executive Officer of its new non-deposit-taking NBFC, Equirus Finance. This strategic move follows the Reserve Bank of India's approval for the NBFC. Jain will lead the development of a diversified lending franchise. Equirus Finance will offer bespoke funding solutions to high net-worth individuals and family offices.

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A Chartered Accountant with an Executive MBA and an Independent Director certification, Jain has previously served as Chairman & MD at Monal Capital and Executive Director at Centrum Capital, alongside leadership roles within the Aditya Birla Group.

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Irdai, India's insurance authority, is stepping up to harmonize relations between health insurers and hospitals through active discussions with industry representatives. Their talks revolve around crucial elements such as claim settlements, rate structures for medical packages, and the facilitation of cashless insurance services.

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Debt-laden IL&FS has repaid ₹48,463 crore to lenders as of September 2025, nearing its ₹61,000-crore debt resolution target. This marks a significant increase from March 2025, with asset monetization and interim distributions driving the progress. The group is close to resolving nearly four-fifths of its intended debt.

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Sustaining India’s momentum requires significant capital and credit to fuel growth. Unlike China, which relied on government capital, India will need internally generated funds or external capital, Emirates NBD Bank CEO Shayne Nelson told Economic Times as he sat down for his first interview since the UAE financial powerhouse’s $3 billion deal to acquire a majority stake in RBL Bank.

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The Supreme Court ruled that tax deduction at source on remittances to non-resident entities cannot exceed 10% as per Double Tax Avoidance Agreements (DTAA). This decision overrides the Income Tax Department's demand for a higher 20% deduction, even when Permanent Account Numbers were not furnished.

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Canadian pension fund PSP Investments is injecting $200 million into Lighthouse Learning Group. KKR is also investing fresh capital as it moves its stake to a new fund. Lighthouse Learning operates numerous preschools and K-12 schools across India. KKR plans to continue driving the company's growth. Future plans may include a public listing or strategic mergers.

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October witnessed a remarkable 19.6% rise in credit card expenditures in India, thanks to the surge in online shopping activities and festive buying sprees. Conversely, the influx of new credit card sign-ups has significantly tapered off.

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ESAF Small Finance Bank's promoter, ESAF Financial Holdings, has submitted a revised plan to the RBI to reduce its stake. The new proposal ensures Dia Vikas Capital's shareholding stays below 5%, a change from the previous 12.17% that was rejected. This move aims to provide exits for existing shareholders and introduce new ones, ultimately lowering the promoter's stake.

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India's retail lending saw a stable 18% year-on-year growth in Q2 FY26, fueled by strong demand for gold and auto loans, and a rebound in personal loans and credit cards. PSU banks solidified their leadership across major loan categories, with gold loans emerging as the fastest-growing segment.

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SBI Ventures is set to launch a Rs 2,000 crore fund in the first quarter of next year. This fund will invest in early and growth-stage climate startups, focusing on frontier climate technologies and AI-enabled innovations. The initiative aims to unlock green growth and address India's significant financing gap in climate goals.

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The microfinance arena is experiencing a noteworthy transformation, as the strain of overleveraged borrowers lessens significantly. Current figures reveal that the loans given to individuals with multiple lenders have decreased to a total of Rs 30,494 crore. Thanks to industry regulations, the count of such borrowers has fallen to 2.

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Health insurers are witnessing a significant surge in fraudulent claims, particularly for smaller amounts. This trend is most pronounced in digestive ailments, where oversight is less stringent. Claims between Rs 50,000 and Rs 2.5 lakh present a high-risk zone for manipulation. Infectious diseases also show a higher propensity for misuse due to generic symptoms and extensive testing.

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The Finance Ministry is exploring a merger of Oriental Insurance, National Insurance, and United India Insurance. This comes after significant government capital infusion improved their financial standing. The government previously considered this merger but deferred it. Now, with better finances, efficiency and scale are key drivers for this potential consolidation. Privatisation of a general insurance company is also under examination.

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Sagarmala Finance Corporation Ltd will raise up to ₹8,000 crore this fiscal year. The company's board approved a ₹25,000 crore borrowing limit. SMFCL is in talks with banks and financial institutions. It plans to offer tailored loan products to marine sector entities. This includes ports, shipbuilding, and coastal shipping. The initiative supports India's growing maritime sector.

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Sagarmala Finance Corporation Limited plans to raise Rs 8,000 crore this financial year. Funds will be sourced from banks, financial institutions, and bonds. This initiative aims to enhance India's maritime capabilities. The corporation, a maritime sector-specific NBFC, will soon commence lending operations. The overall borrowing limit has been set at Rs 25,000 crore.

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India's health insurance sector is losing Rs 8,000-10,000 crore annually due to fraud and waste, as highlighted by a BCG and Medi Assist report. This impacts premiums, insurer stability, and public health funds, with mid-ticket claims being particularly vulnerable. Recommendations include enhanced detection, standardised coding, and AI-driven oversight.

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IndusInd Bank has begun early discussions to gauge investor interest for a potential qualified institutional placement, according to people aware of the matter. Senior management has been meeting investors after recent discrepancies in forex derivatives triggered senior-level exits.

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Mule accounts are spreading across India beyond traditional hotspots. Criminals are using new locations and methods like in-game purchases to launder money. Banks and investigative agencies are working together to freeze these accounts. The Reserve Bank of India is enhancing coordination and using AI tools to detect fraudulent activity.

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The CBDT has updated the Capital Gains Accounts Scheme to make it more convenient and digitally accessible. The amendment, effective November 19, extends the scheme to capital gains from shifting industrial units to SEZs under Section 54GA, encouraging such relocations by enabling tax exemptions.

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Kotak Mahindra Bank and Federal Bank are negotiating to buy Deutsche Bank’s India retail and wealth portfolios as the German lender seeks a full exit. Talks focus on valuation and loan bundle details.

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The Insurance Regulatory and Development Authority of India (Irdai) said it has observed "with serious concern" a surge in advertisements across media platforms that are "misleading, deceptive and not in compliance" with regulations. Claim-settlement ratios are being presented in a manner that suggests minimal rejections even though actual numbers in regulatory filings tell a different story.

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The Supreme Court criticised the CBI on Wednesday for its “friendly approach” in the probe into alleged financial irregularities at Indiabulls Housing Finance, now renamed Sammaan Capital. The court asked the CBI director to call a meeting with Sebi, the MCA, SFIO and ED within two weeks to review the case.

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The government has opened talks with the insurance regulator, insurers and hospital groups to address rising health insurance premiums driven by higher medical costs and uneven claim payouts. Proposals under review include caps on premiums, limits on agent commissions and stricter disclosure rules.

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Several Indian microfinance companies are defaulting on bank loans due to asset quality stress and funding crunches, threatening the survival of smaller lenders. VFS Capital, Navachetana Microfin Services, and Arth Finance are among those facing defaults, highlighting a liquidity crisis impacting the sector.

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As the government prepares for its next budget, payment system operators are calling for a decisive increase in subsidies for UPI merchant discount rates (MDR). They emphasize the critical funding shortfall for zero-MDR on low-value transactions between individuals and merchants, recommending a reasonable MDR for larger retailers to maintain the financial health of the system.

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Visa is bringing its AI payment platform to Asia Pacific. Customers can let an AI agent shop for them using preloaded card details and spending limits. A pilot project is planned for Singapore by early 2026. India is also being considered for this new shopping method.

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India must develop shared digital infrastructure to combat fraud and boost credit access. This is crucial for achieving the Viksit Bharat economic vision by 2047. Key proposals include a National Financial Grid and the Indian Digital Payment Intelligence Corporation. These initiatives will create a unified digital backbone for financial services.

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Mumbai (Maharashtra) [India], PayU, India's leading diversified fintech platform, has received integrated authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator across online, offline (physical) and cross-border transactions, including both Inward and Outward, under the Payment and Settlement Systems (PSS) Act. This approval enables PayU to offer secure, compliant, and seamless payment acceptance, settlement and cross-border solutions for merchants across channels.

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LIC has urged the government to implement tax and regulatory changes in the upcoming budget to boost policy sales and insurer margins. Key proposals include treating insurance services as 'zero-rated' for GST to allow input tax credit claims and increasing the tax-free maturity proceeds limit to ₹10 lakh annually.

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Pro Fin Capital Services Ltd has received a Letter of Intent from Hong Kong-based Excellence Creative Ltd. The proposal is to acquire up to 25 percent stake for Rs 22 crore. The company's board will consider this exploratory proposal.

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As Kotak reflects on four decades of building an institution and Vaswani focuses on shaping its digital future, both leaders describe a sector in transition. Money is moving faster, customer behaviour is changing and technology is redrawing the map. Their message is that the bank must continue adapting -- leaning on its diversification, its culture and its ability to stay relevant across generations.

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A Lumikai survey reveals a majority of Indians now pay for online content, with gaming dominating spending over Rs 1,000. The study of 3,000 mobile users found 80% use UPI for payments and 40% have multiple subscriptions, indicating a young, data-hungry, and willing-to-pay digital audience. Gaming commands a significant 49% attention share, with women and non-metro users driving its growth.

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Microfinance institutions face a critical challenge in rebuilding trust and credibility for sustainable growth. Recent setbacks like demonetisation and the Covid pandemic have impacted repayment discipline and public confidence. Empowering customers with information and ensuring fair practices are vital. The industry is currently prioritizing portfolio health over aggressive expansion, but this approach is not sustainable long-term.

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Global banks are increasingly choosing India's GIFT City for dollar-denominated debt, diverting business from established Asian financial centers. Attractive tax incentives, particularly the absence of withholding tax, enable cheaper financing. This burgeoning hub is poised to capture a larger share of Indian corporate offshore borrowing, signaling a significant shift in regional finance.

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Under the agreement, both partners will commit up to Rs 3,600 crore each, with an initial investment of Rs 1,250 crore planned over the first five years. The Mahindra Group expects to deploy about Rs 250 crore a year over this period, while Manulife will contribute an equal amount. The two partners will apply for a license in 2-3 months, and operations are expected to begin within 15-18 months of regulatory approval.

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In a recent announcement, the Mumbai Police Economic Offences Wing has concluded its investigation into the accounting discrepancies at IndusInd Bank, reporting a lack of evidence for any fund misappropriation. Consequently, no criminal charges will be filed against former high-ranking officials.

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DigiPay will help improve profitability of UCBs, as it will bring down their Unified Payment Interface, or UPI, transaction costs, reducing switch charges to between ₹0.01 and ₹3, as against ₹0.50 and ₹5, said chief executive of NUCFDC, Prabhat Chaturvedi. DigiLoan introduces a digital loan origination system that lets UCBs process, verify, and sanction loans online.

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The remainder will be for co-investments by IFC and Everstone. Singapore-headquartered Everstone Capital has funds under management of $8 billion. It invests in mid-market companies in healthcare, pharmaceutical, tech and business services, consumer, financial services, and industrial sectors.

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Leading Indian banks, including State Bank of India and Punjab National Bank, are collaborating on a unified strategy. They aim to enter the lucrative mergers and acquisitions financing market. Banks will also advocate for relaxed Reserve Bank of India guidelines. This move will allow them to participate in deal financing from April 2026.

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Allen Forlemu, interim regional vice president, Asia Pacific at IFC, said this investment aligns with India's vision of 'Insurance for All by 2047' and will strengthen India's life insurance industry by building confidence in capital instruments, attracting institutional and foreign investments, and creating jobs across the value chain. In the FY26 budget, the government announced 100% foreign investment in the insurance sector.

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Public sector banks are refining recruitment and training to emphasize local languages. This move addresses demographic disparities, particularly between northern and southern India. Finance Minister Nirmala Sitharaman highlighted the need for branch staff to speak local dialects. Banks are implementing new strategies, including longer tenures for local officers, to improve customer interaction across the nation.

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Union Cooperation Minister Amit Shah launched Sahakar Digi Pay and Sahakar Digi Loan apps for urban cooperative banks. Digital payment adoption is crucial for their survival. The minister urged for expansion, setting a target of one additional UCB in every town with over two lakh population within five years.

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IndusInd Bank MD and CEO Rajiv Anand said the bank is rebuilding its culture by hiring “high-integrity professionals” across key roles, including a new CFO, internal audit head, general counsel and chief risk officer. The overhaul aims to strengthen governance and controls as the bank targets improved performance by FY27.

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A surge in bank profitability is on the horizon, fueled by robust loan growth and diminishing interest expenses. Lower Cash Reserve Ratio requirements coupled with a boost in unsecured loans are expected to contribute positively. Additionally, net interest margins are on a path to stabilization.

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Authum Investment and Infrastructure, Northern Arc, DMI Housing, Kifs Housing Finance and Omkara Asset Reconstruction Company are among others in fray for the asset, said the people cited above. Authum has given an offer of Rs 750 crore, which includes Rs 450 upfront and remaining staggered over two years, while Northern Arc has offered Rs 625 crore, of which Rs 325 crore is upfront and the remaining will be paid in two years, said the people cited above.

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RBI Governor Sanjay Malhotra said that SBI’s turnaround from losses in 2018 to a USD 100 billion valuation reflects decade-long regulatory and structural reforms. He credited measures like IBC, PCA, AQR, and bank consolidation for strengthening India’s banking system.

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Axis Bank is revaluing its finance arm, Axis Finance. This follows eased rules from the Reserve Bank of India. The bank now plans to sell more than 26 percent of the subsidiary. This move could lead to a valuation exceeding two billion dollars. Axis Finance is growing well and requires capital for expansion.

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SBI is implementing a new system to help its employees speak with customers in local languages. Artificial intelligence tools will assist in this transition and speed up learning. The bank is focusing on preparing its staff for these changes. This initiative aims to improve efficiency and customer service across all branches.

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Junio Payments Private Ltd has secured in-principle authorisation from the Reserve Bank of India to issue Prepaid Payment Instruments. This allows Junio to launch a digital wallet linked to UPI. Youngsters can make UPI payments using their parents' accounts. The Junio app and its prepaid cards help parents manage money and teach financial responsibility.

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Mahindra & Mahindra has successfully divested its entire stake in RBL Bank. The sale fetched Rs 678 crore, marking a significant 62.5% profit on the initial investment. This strategic move by the diversified firm highlights a profitable treasury operation. The company had acquired the stake in July 2023 for Rs 417 crore. This transaction demonstrates effective capital management.

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Local card network has seen its share climb to 16% in two years; if UPI link remains exclusive, it could rise further.

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Paytm is enhancing its platform for loyal customers. The company is building long-term value through its innovative 'Gold Coins' loyalty program. This initiative turns everyday transactions into opportunities for wealth creation via digital gold investments. Paytm aims to promote responsible financial habits and everyday wealth building for millions of Indians.

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Public sector banks, led by SBI, achieved a record cumulative profit of Rs 49,456 crore in Q2 FY26, a 9% year-on-year increase. SBI alone contributed 40% to this total, posting a net profit of Rs 20,160 crore. Indian Overseas Bank and Central Bank of India saw the highest profit growth at 58% and 33% respectively.

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"The company was formed in a hurry with the idea of starting operations quickly, while branding the institution was not an immediate priority," said one of the persons cited above. "However, over the last few months, the government is keen to rename it to reflect the work undertaken by them," the person added. NaBFID was established under the National Bank for Financing Infrastructure and Development Act, 2021, and is 100% owned by the government.

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The microfinance loan portfolio saw a decline in the September quarter. However, lenders reported better asset quality. Disbursements increased, with a rise in larger loan amounts. Borrower exposure to multiple lenders also grew, indicating adherence to new regulations. This shows a resilient sector balancing growth and sustainability.

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Bajaj Finance achieved record consumer loan disbursals this festive season. The company saw a 27 percent growth in loan volume and 29 percent in value. Government reforms in GST and income tax boosted consumer spending power. Over half of the customers were new to credit, promoting financial inclusion. This indicates a positive trend in India's consumption-led growth.

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IndusInd Bank, following an organizational overhaul and accounting lapses, anticipates growth aligned with the banking sector in FY27. The new CEO, Rajiv Anand, aims for a 1% return on assets within 18 months and plans to focus on commercial vehicle financing while reducing microloan exposure. The bank does not currently require capital raises from external investors.

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KKR is set to boost its India investments significantly. The firm plans to deploy substantial capital in the country as part of its global expansion. Focus areas include healthcare, consumer, technology, financial services, and infrastructure like renewables and data centres. Manufacturing is also a key target. KKR is also bringing its insurance business to India, funding local transactions.

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In light of the anticipated US tariffs and global economic fluctuations, Bank of Baroda predicts an uptick in credit costs exceeding 0.2 percent. With plans to aggressively expand its footprint in the home loan sector, the bank, despite a noteworthy improvement in asset quality, maintains a cautious credit cost guidance of 0.75 percent amid prevailing uncertainties.

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Kshema General Insurance secured $20 million from the Green Climate Fund for its 'Harnessing Insurance for Climate Resilience in Indian Agriculture' project. This initiative aims to expand microinsurance coverage for smallholder farmers facing climate-induced losses and enhance the company's underwriting capacity. The investment will also bolster Kshema's proprietary technology platform for customized insurance solutions and advisory services.

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PNB Housing Finance is close to appointing a new Managing Director and CEO. Four candidates have been shortlisted, with Ajai Shukla of Tata Capital Housing Finance leading the race. The company has submitted the names to regulators for approval. This appointment follows multiple leadership changes in recent years. An update on the selection process is expected soon.

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State Bank of India has launched 'SBI STAR', an annual award recognizing employees' excellence beyond professional roles in arts, sports, social work, and more. This initiative aims to celebrate the diverse talents and personal accomplishments of its over 2,45,000 employees, fostering a culture of recognition and pride.

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State Bank of India has successfully completed its first gold trade on the India International Bullion Exchange. This marks a significant step towards modernising India's gold imports. The move promises greater efficiency and transparency for the entire bullion and jewellery sector. It will particularly benefit small and medium-sized jewellers. SBI's participation aims to boost liquidity and competitive pricing.

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High-value Rs 2,000 notes worth Rs 5,817 crore remain in circulation. The Reserve Bank of India announced their withdrawal in May 2023. Most notes have been returned, with 98.37 percent accounted for. The Rs 2,000 banknotes continue to be legal tender. People can still exchange them at RBI issue offices or send them via India Post.

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