BANKING

India's government has set a February 5 deadline for financial bids to divest a majority stake in IDBI Bank, marking a significant step in the privatization process. Eligible bidders, including Fairfax Financial Holdings and Emirates NBD, are now in the final phase. The government and LIC aim to sell 60.7% of the lender, with the successful bidder gaining naming rights.

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BANKING

RBI rate cut: This is the first data point reflecting the 25-basis point repo rate cut announced by the Reserve Bank of India in December 2025, following cumulative policy easing of 125 basis points over the course of 2025.

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BANKING

Major global reinsurers, including Lloyd's of London, are seeking Indian regulatory approval to establish operations in GIFT City, a low-tax financial hub. These companies aim to tap into India's substantial insurance market by offering specialized products and benefiting from favorable tax treatment and regulatory alignment.

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BANKING

Citigroup India has appointed Ankur Khurana as its new head of commercial banking. This move signals a stronger focus on India's growing mid-market corporate sector. Khurana brings over two decades of banking experience. She previously worked at Standard Chartered Plc. This position was vacant since July.

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BANKING

PNB Housing Finance aims to balance growth and margins under a new leader with a five-year tenure, following frequent leadership changes. The company is shifting focus to higher-yielding affordable and mid-market housing loans, targeting a 45-50% share by FY28. This strategy, coupled with funding new developers, seeks to improve profitability and address investor concerns.

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BANKING

This government backing aims to support the sector facing delinquencies and funding challenges. The scheme will incentivize banks to lend to microfinance institutions, especially smaller ones. It will be implemented outside the union budget framework and announced after Cabinet clearance.

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BANKING

ATM cash withdrawals saw a dip in 2025. However, people took out more money per transaction. CMS Info Systems reported this trend. Digital payments also grew significantly. Insurance spending rose, while education, hospitality, and entertainment saw reduced spending. This reflects shifts in consumer behavior.

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