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Banking/Finance-Industry-Economic Times
Rajiv Bajaj is stepping down from the Bajaj Finance board. He will not seek re-election at the annual general meeting on July 30, 2026. This marks a significant leadership change after his long association. The board acknowledged his valuable service and contributions. Bajaj will cease to be a non-executive director post the AGM.
Published on: April 29, 2026
I Squared Capital is looking to sell its stake in Polaris Smart Metering. The US-based fund has hired an investment bank to manage the sale. Polaris Smart Metering is valued at around $200 million. The company has secured contracts for smart meter installations in Uttar Pradesh and West Bengal. Polaris recently raised financing from British International Investment.
Published on: April 28, 2026
Indian lenders are turning to artificial intelligence to manage loan collections and acquire new customers. This move comes as a severe heatwave is expected across India. Cash-based collections and on-ground visits for loan repayments are particularly vulnerable to disruptions. Lenders are also tightening rules for loans in climate-sensitive areas.
Published on: April 28, 2026
IndusInd Bank executives are now facing inquiries from law enforcement as two separate incidents of alleged assault by recovery agents over credit card debts come to light. Amid growing concerns, the Reserve Bank of India demands clarification on the bank's collection practices. Investigations into the bank's recovery protocols are underway, intensified by a viral video showcasing the incident.
Published on: April 28, 2026
India's microfinance sector showed a strong rebound. The loan portfolio expanded significantly in the March quarter. This marked a recovery after a long period of contraction and write-offs. Delinquency rates had also declined. This positive trend is expected to continue.
Published on: April 28, 2026
The Reserve Bank of India has launched Mission SAKSHAM. This initiative aims to build capacity across all urban cooperative banks nationwide. Approximately 1.40 lakh participants will undergo training. The program will enhance managerial and operational skills. It also focuses on improving compliance and strengthening institutional resilience. Board members, senior management, and employees in critical functions will benefit.
Published on: April 28, 2026
The Bombay High Court has ruled that insurers cannot reject hospitalisation claims solely because they were filed after the time limit mentioned in the policy.
Published on: April 28, 2026
AU Small Finance Bank has submitted its final application for a universal banking license. This follows the Reserve Bank of India relaxing a key requirement regarding a non-operative holding company. The bank is fully prepared for this transition. AU Bank received its in-principle license last year and has been working towards this conversion.
Published on: April 28, 2026
PhonePe has achieved a major milestone with 50 million registered merchants. This growth signifies a significant step in bringing financial services to more Indians. The platform now offers a wide range of solutions beyond just payments. This includes loans and business tools for small enterprises. PhonePe's focus on accessibility, especially in smaller towns, has been key to this success.
Published on: April 28, 2026
The microfinance sector has turned a corner, showing growth in the January-March period. This follows a period of contraction and write-offs. The market size has expanded, and loan portfolios are growing. Delinquency rates have also declined across lender categories. This positive trend indicates a steady recovery for the industry.
Published on: April 28, 2026
AU Small Finance Bank has submitted its final application for a universal banking license after the RBI relaxed the non-operative holding company requirement. The bank is fully prepared technologically and product-wise for the transition, having received in-principle approval last August. This move signifies a significant step towards becoming a full-fledged universal bank.
Published on: April 28, 2026
Govt officials are reviewing the IDBI Bank disinvestment strategy. This comes after weak investor interest and market volatility impacted the proposed sale. A core group of secretaries is deliberating on revised valuations and timelines. Finance Minister Nirmala Sitharaman confirmed the strategic sale will proceed. The government aims to conclude the IDBI Bank transaction soon.
Published on: April 27, 2026
SBI Cards has taken a bold step in fortifying its financial health by offloading a considerable portion of its stressed credit card debt, valued at approximately ₹1,800 crore, to Integro Finserv. This transaction is a critical aspect of SBI Cards' plan to address mounting delinquencies and elevate the overall quality of its credit card offerings.
Published on: April 27, 2026
In a move aimed at improving transparency in the derivatives market, the central bank has issued directions on 'Reporting Instructions for Authorised Dealer Category - I Banks'.
Published on: April 27, 2026
India's banking sector needs urgent reforms. The Confederation of Indian Industry's report highlights slow loan recovery and complex laws. Reforms aim to speed up legal processes and improve efficiency. Stricter timelines and stronger institutions are recommended. Simplifying laws under a unified code is also proposed. These changes will strengthen financial discipline and boost investor confidence.
Published on: April 27, 2026
Fintech firm MobiKwik has secured a crucial Reserve Bank of India approval for a non-banking financial company license. This paves the way for MobiKwik to launch its own lending business through a wholly owned subsidiary. The company plans to offer new credit products for consumers and merchants.
Published on: April 27, 2026
Public sector banks must begin wage revision talks for employees and officers. Negotiations for the 13th Bi-partite settlement are to be finalised within a year. This wage revision is due from November 1, 2027. The government emphasises timely conclusion to maintain industrial harmony.
Published on: April 26, 2026
Axis Finance has secured Rs 750 crore from Kedaara Capital through a preferential issuance. This investment follows a Rs 1,500 crore infusion from Axis Bank. The capital boost will strengthen Axis Finance's financial base and fuel its expansion. The company serves retail, MSME, and wholesale loan sectors. Its business grew 22% to Rs 47,692 crore.
Published on: April 25, 2026
Belgium's Ageas Group is prioritizing India's growth, aiming to break into the top 10 insurers in both life and non-life segments. The company is exploring acquisition opportunities and deepening its commitment to the market, building on previous strategic moves.
Published on: April 25, 2026
The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank. This action follows persistent compliance issues. The bank can no longer accept deposits. However, the Paytm app and its core services remain unaffected. Users can continue to use UPI and other payment features.
Published on: April 25, 2026
Paytm has said that the Reserve Bank of India’s (RBI) action on Paytm Payments Bank Ltd (PPBL) will have no financial or business impact on the company, stressing that it has no material exposure or operational link with the banking entity.
Published on: April 25, 2026
Anthropic’s Mythos AI is triggering global concern as banks and regulators warn it could enable faster, large-scale cyberattacks on financial systems.
Published on: April 25, 2026
IDFC First Bank fraud: A Haryana government official has been dismissed from service. Naresh Bhuwani, a Superintendent in the Development and Panchayat Department, faces dismissal in a Rs 590 crore IDFC First Bank fraud case. The government has uncovered a criminal conspiracy involving fraudulent banking transactions. Government funds were transferred to shell companies.
Published on: April 25, 2026
Finance Minister Nirmala Sitharaman has directed the Indian Banks' Association to help banks combat emerging cybersecurity threats from Anthropic's Claude Mythos AI. SBI Chairman Challa Srinivasulu Setty will lead these efforts. Banks will explore investments and technologies, including AI, to counter this new AI-borne challenge. The Ministry of Electronics and Information Technology is actively engaging with global partners on preparedness.
Published on: April 24, 2026
Published on: April 24, 2026
IndusInd Bank has appointed Sunil Kumar Singh as its new Chief Compliance Officer, effective April 30, 2026. Singh will succeed Sachin Patange, whose tenure concludes on April 29, 2026. The appointment, approved by the Board of Directors, will see Singh serve a three-year term as Senior Management Personnel.
Published on: April 24, 2026
The Reserve Bank of India has taken decisive action against Paytm Payments Bank by cancelling its banking licence. This means that the bank must cease all banking activities immediately. The RBI plans to approach the High Court to initiate the dissolution process due to ongoing non-compliance issues.
Published on: April 24, 2026
While imposing a penalty on Bandhan Bank, the RBI said the bank failed to carry out periodic review of risk categorisation of certain categories of accounts, and had sanctioned director-related loans.
Published on: April 24, 2026
Banks have again become the primary source of funds for Indian businesses. In FY26, bank lending accounted for a significant portion of total resource mobilisation, reaching a three-year peak. This marks a clear shift in corporate financing patterns. While foreign capital and bond markets also saw activity, the scale of bank lending dominated.
Published on: April 24, 2026
Indian banks face new artificial intelligence cyber threats. Finance Minister Nirmala Sitharaman urged a proactive approach. Banks will collaborate to identify vulnerabilities and adopt new technologies. AI itself may be used to combat AI-driven attacks. This initiative aims to strengthen cybersecurity defenses.
Published on: April 24, 2026
Shapoorji Pallonji Group is set to raise about Rs 25,400 crore by May 15. This funding will be used to refinance existing debt. The group is also seeking approval to temporarily adjust a loan-to-value covenant on its bonds. Developments regarding Tata Sons' stake and potential listing are being closely watched by investors.
Published on: April 24, 2026
Bharti Group is in talks to sell up to 85% of its life insurance business to Prudential Plc for an estimated ₹7,000-8,000 cr. This potential deal would mark Bharti's exit from the life insurance segment, while Prudential aims to expand its presence in India's growing market. Discussions are ongoing, with due diligence underway.
Published on: April 24, 2026
The Reserve Bank of India is navigating global economic hurdles and geopolitical tensions. Deputy Governor Poonam Gupta explains the central bank's strategy. The RBI is optimistic about India's growth prospects, citing economic resilience and ongoing reforms. The focus remains on maintaining price stability while supporting economic expansion. The central bank is closely monitoring inflation and external factors.
Published on: April 24, 2026
In recent times many resident individuals, banking with various financial institutions, have used cards to carry out such international capital account transactions-oblivious that they were violating foreign exchange and banking rules. Some probably did it consciously to dodge the tax collected at source (TCS) or sidestep restrictions on overseas forex remittance.
Published on: April 23, 2026
The Reserve Bank of India has taken action against Ebix Payment Services, Dr Babasaheb Ambedkar Nagari Sahakari Bank, and Hardoi Jilla Sahkari Bank, penalizing them for regulatory non-compliance.
Published on: April 23, 2026
AU Small Finance Bank has welcomed Vivek Tripathi as its new Executive Director, approved by the Reserve Bank of India for a three-year term. Transitioning from his role as chief credit officer, Tripathi will officially assume his responsibilities this Friday.
Published on: April 23, 2026
The government has extended the terms of Rajneesh Karnatak, MD and CEO of Bank of India, and Debadatta Chand, MD and CEO of Bank of Baroda. Both will continue in their roles for three more years. These extensions are effective from April 29, 2026, and July 1, 2026, respectively.
Published on: April 23, 2026
Finance Minister Nirmala Sitharaman convened a meeting with bank heads to address Artificial Intelligence (AI) risks, particularly concerning Anthropic's Mythos model and its potential to compromise financial system data security. Banks have been urged to implement preemptive measures to safeguard their systems, customer data, and funds following discussions on AI's implications for the financial sector.
Published on: April 23, 2026
Nippon Life India Asset Management will pay over 96 crore rupees to settle SEBI charges. The company allegedly invested customer funds in high-risk Yes Bank bonds. This investment led to significant investor losses when Yes Bank became insolvent. A large portion of the settlement will be returned to affected investors. Anil Ambani's group allegedly influenced these investment decisions.
Published on: April 23, 2026
Indian bank leaders will meet the finance minister today. They will discuss protecting the nation's payment system. The focus is on cyber threats from a new AI model called Mythos. Banks are seen as vulnerable due to their interconnected IT platforms. This meeting follows reports of unauthorized access to the AI model. Global regulators are also discussing these potential risks.
Published on: April 23, 2026
State Bank of India Chairman CS Setty foresees artificial intelligence revolutionizing financial markets. AI will enhance risk management and operational efficiency. Institutions like Clearing Corp of India will become pre-emptive risk managers. The future demands intelligent scale and agile systems. Cybersecurity and resilience remain paramount as digitization advances.
Published on: April 23, 2026
Quadria Capital is eyeing a strategic acquisition of a majority interest in Samarth Lifesciences, a move that could value the transaction at around Rs 4,500 crore. With ambitions for growth, Samarth Lifesciences is on the lookout for investment, especially after prior negotiations with alternative investors faltered over price evaluations.
Published on: April 23, 2026
Jio Financial Services and Allianz Group from Germany are joining forces in an exciting new insurance initiative. This equal partnership will concentrate on providing general and health insurance products uniquely designed for Indian consumers.
Published on: April 22, 2026
PNB Housing Finance anticipates strong loan portfolio expansion of 18-20 percent this fiscal year. The company aims to reach a significant loan book of one lakh crore rupees by FY27. This growth will be fueled by a strategic focus on affordable and emerging market segments. Recoveries from written-off loans are expected to maintain benign credit costs.
Published on: April 22, 2026
State Bank of India chairman CS Setty foresees artificial intelligence revolutionizing financial markets. AI will enhance risk management and operational efficiency. Institutions like Clearing Corp of India will shift from post-trade processing to pre-emptive risk management. The future demands intelligent scale and agile systems. Cybersecurity and operational resilience remain paramount as markets digitize.
Published on: April 22, 2026
State-owned Punjab National Bank has partnered with Kiwi to launch the RuPay-based PNB Kiwi Credit Card. It offers digital onboarding, UPI integration and 0.5–1.5% cashback. The move aims to expand credit access, especially in semi-urban and rural areas, amid rising UPI adoption.
Published on: April 22, 2026
The Reserve Bank of India has unveiled draft guidelines for prepaid payment instruments. These new rules aim to strengthen compliance and customer protection. A key proposal includes UPI-linked wallets for foreign visitors. The framework also pushes for deeper integration of prepaid instruments with UPI. Dormant balances will be managed more strictly.
Published on: April 22, 2026
Indian bank credit growth is set to slow down to under 12 percent this financial year. This moderation is driven by the ongoing West Asia conflict and changing interest rates. Small businesses and unsecured loans may see increased defaults. Banks will be cautious in lending to vulnerable sectors.
Published on: April 22, 2026
The Reserve Bank of India has approved the appointment of Debasish Panda, a former IAS officer and ex-chairman of IRDAI, as the part-time chairman of Bandhan Bank for three years. Panda, who previously served as Secretary of the Department of Financial Services, will succeed Anup Kumar Sinha.
Published on: April 22, 2026
The next 25 years in finance will prioritize intelligent scale, not just size. Artificial intelligence will be key for risk management and efficiency. Global integration and digital assets are also shaping the future. Meanwhile, the Reserve Bank of India has eased restrictions on offshore non-deliverable forward trading as rupee market volatility subsides. This move aims to support rupee internationalization.
Published on: April 22, 2026
