BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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BANKING

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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