BANKING

India's gold loan market has surged from USD 33 billion in FY19 to USD 83 billion in FY24, exhibiting a robust 20 per cent CAGR, driven by increased trust in formal lending channels and regulatory improvements. Digital technology and evolving customer attitudes, particularly among younger generations, are transforming the gold loan process.

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BANKING

Asian Infrastructure Investment Bank has invested in Aditya Birla Capital Limited. The investment is through Non-Convertible Debentures. The amount is Rs 1,301.25 crore. This will support India's renewable energy and e-mobility sectors. It will help India achieve its sustainability goals. The collaboration will also enhance Aditya Birla Capital's environmental and social governance.

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BANKING

IndusInd Bank has proposed Rajiv Anand, Rahul Shukla, and Anup Saha as CEO candidates to the RBI following a $230 million loss due to misaccounting, which led to the resignations of its CEO and deputy. The board has prioritized Anand, currently at Axis Bank, citing his experience. Shares of IndusInd Bank saw a slight increase amidst a year-to-date decline.

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BANKING

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BANKING

Amitabh Chaudhry of Axis Bank believes India's growth remains strong despite global issues. He anticipates increased credit demand following rate cuts. Japanese banks' entry signals confidence in India. New entrepreneurs will emerge, driving growth. Axis Bank addresses deposit challenges and focuses on strategic growth. The bank is open to microfinance opportunities and aims to improve its market position.

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BANKING

Karnataka Bank's MD Srikrishnan Hari Hara Sarma and executive director Sekhar Rao resigned following auditor concerns about expenses exceeding their authority. The board accepted their resignations and initiated a search for replacements, appointing Raghavendra Srinivas Bhat as COO. Auditors flagged Rs 1.53 crore in expenses needing ratification, raising corporate governance questions.

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BANKING

Jammu and Kashmir Bank has appointed Ketan Kumar Joshi as its new chief financial officer for a three-year term, replacing Fayaz Ahmad Ganai. Joshi brings over 20 years of experience in banking and finance, including his recent role as CFO at North East Small Finance Bank Ltd.

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