Hotline 24/7
+91 70424 11677
Navneet Singal Dec 04 ,2024
Published In : EvoBreyta
Navneet Singal Oct 24 ,2024
Published In : EvoBreyta
Navneet Singal Sep 20 ,2024
Published In : EvoBreyta
Navneet Singal Aug 21 ,2024
Published In : EvoBreyta
Navneet Singal Oct 26 ,2023
Published In : Taxmann
Navneet Singal Oct 13 ,2023
Published In : TAXMANN
IndusInd Bank shareholders rejected a resolution allowing the Hinduja Group to appoint two nominee directors, with 54% voting against it. Despite prior approvals from the RBI and the bank's board, concerns raised by proxy advisors led to the proposal's defeat.
Published on: August 29, 2025
The Reserve Bank of India (RBI) has levied a penalty of Rs 44.7 lakh on Bandhan Bank due to non-compliance with certain statutory and regulatory norms. An inspection revealed that the bank paid commissions to employees and made manual interventions in account data without proper audit trails. The penalty is based on regulatory deficiencies.
Published on: August 29, 2025
Gold loans in Kolkata witnessed a massive surge, growing 122% year-on-year. This occurred even as personal loan growth slowed. The Reserve Bank of India data showed gold loans outstanding at Rs 2.94 lakh crore. Credit card outstanding growth also decelerated. Housing and vehicle loan growth moderated as well.
Published on: August 29, 2025
CMS Infosystems is aggressively expanding its AI-powered remote monitoring solutions, projecting AI to contribute 10% of revenues by FY27. Their HAWKAI platform monitors over 30,000 ATM sites, and the acquisition of Securens Systems will boost their coverage to 45,000 sites. CMS is investing heavily in AI and targeting growth in BFSI and new sectors.
Published on: August 29, 2025
Bajaj Allianz and AHPI resolved a dispute, ensuring uninterrupted cashless healthcare access for policyholders. AHPI, representing over 20,000 hospitals, had threatened to suspend cashless facilities. Dr. Tapan Singhel emphasized the need for a healthcare regulator to prevent future disruptions and safeguard citizens' interests. A similar notice was sent to CARE Health Insurance.
Published on: August 29, 2025
RBI economists' study reveals a 6% decline in private sector project sanctions by banks and financial institutions in FY25, totaling Rs 3.67 lakh crore. Despite lower investment announcements and cautious optimism, greenfield projects dominate, signaling potential capacity expansion. Private sector capital expenditure is projected to rise 21% in FY26.
Published on: August 29, 2025
Sumitomo Mitsui Banking Corp or SMBC will invest sixteen thousand crore rupees in Yes Bank. The investment will be through equity and debt. This will strengthen Yes Bank's balance sheet. SMBC will also acquire a twenty percent stake in the bank from existing shareholders. The deal awaits regulatory approvals. This move is expected to improve Yes Bank's financial standing.
Published on: August 29, 2025
The Association of Healthcare Providers of India (AHPI) has raised concerns over alleged anti-competitive practices by the General Insurance Council (GIC), including a proposed common empanelment process and sudden suspension of cashless services. AHPI argues these tactics pressure hospitals to lower tariffs without legal justification.
Published on: August 28, 2025
Bank of Baroda has announced a reduction of over 0.25% in interest rates for select car and mortgage loan products, effective immediately. This move, coinciding with the festive season, aims to boost credit growth amidst calls for economic expansion. The floating car loan interest rate now starts at 8.15%, while loan against property rates are down to 9.15%.
Published on: August 28, 2025
Jio Payments Bank plans to introduce 'Savings Pro,' an innovative savings account that auto-invests idle cash in overnight mutual funds for higher returns. The bank, serving over 25 lakh customers, aims to diversify revenue streams through various services and strategic tie-ups. Jio Financial Services focuses on unit economics and responsible growth, leveraging AI and analytics to enhance financial services.
Published on: August 28, 2025
Infosys has partnered with Mastercard to integrate Mastercard Move's cross-border payment capabilities into Infosys Finacle. This collaboration aims to provide financial institutions with faster and more secure access to global money movement, reaching over 200 countries and 150+ currencies. The integration will enable seamless digital payment experiences for customers, enhancing loyalty and improving financial experiences.
Published on: August 28, 2025
Arohan Financial Services anticipates a 20 percent growth in its loan portfolio this fiscal year. Last year, their portfolio stood at Rs 6,100 crore. They operate through 1,102 branches, serving 21 lakh customers. In the previous fiscal year, the company reported a net profit of Rs 110 crore. Arohan emphasizes the need for long-term capital in the microfinance sector.
Published on: August 28, 2025
For Indian banking, the focus will now be on adjusting to the new interest rate environment and leveraging the anticipated increase in liquidity to improve their financial performance in the coming months. While the initial quarter has presented challenges, the outlook for a rebound in net interest margins could signal a turning point for the industry.
Published on: August 28, 2025
The Reserve Bank of India (RBI) is considering stricter rules for shadow lenders, aiming to curb overlapping business activities between parent companies and their subsidiaries. This move aligns with existing regulations proposed for banks and seeks to mitigate risks within the non-banking finance sector.
Published on: August 28, 2025
Indian banks are exercising caution as the 50% US tariff takes effect, but leading bankers anticipate a limited impact on credit growth and asset quality due to small export credit outstanding. While certain sectors like gems & jewellery and textiles face higher exposure, the government is expected to provide fiscal relief, and exporters will likely diversify into new markets.
Published on: August 27, 2025
AIBOC has criticised the government's decision to privatise IDBI Bank, calling it a betrayal of parliamentary assurances made in 2003. The organisation argues that privatisation equates to selling people's savings and weakening the public banking network. The government and LIC jointly own 95% of IDBI Bank, with 60.72% stake set for sale.
Published on: August 27, 2025
The decision to merge the two holding companies into one is not related to Jana's universal banking aspirations while this would only help improving efficiency through a leaner structure, managing director and chief executive officer Ajay Kanwal said.
Published on: August 26, 2025
The General Insurance Council (GIC) has criticized the Association of Healthcare Providers India (AHPI) for discontinuing cashless hospitalization for Bajaj Allianz General Insurance and Care Health Insurance customers, deeming it disruptive and harmful. AHPI's decision, driven by disputes over reimbursement rates amid rising medical costs, will require patients to pay upfront and seek reimbursement later.
Published on: August 26, 2025
Expenditures climbed 5.5% from June to Rs 1.93 lakh crore, which was a third higher than in July last year, the Reserve Bank of India (RBI) data showed. Net new card additions in July hit a five-month high at 425,000, taking the total tally to 111.6 million. The industry had reported a marginal contraction of 235 cards in June.
Published on: August 26, 2025
The government is pushing banks to reduce failed transactions under the PM-Kisan scheme due to issues like unmapped Aadhaar numbers and pending KYC. Banks are directed to undertake state-level campaigns for corrective actions. Launched in 2019, PM-Kisan provides ₹6,000 annually to farmers, with over ₹3.90 lakh crore disbursed so far.
Published on: August 26, 2025
Nabard plans its first external commercial borrowing in fiscal year 2026. Reserve Bank has already given its approval. The funds will support climate change projects. Nabard will establish an office in GIFT City for this purpose. The bank is waiting for the right time to borrow. It is avoiding domestic issuances due to high yields.
Published on: August 26, 2025
Reserve Bank of India directs banks to monitor funds from Pakistan. The concern is that these funds may be used for arms purchases. Indian agencies investigated after a military conflict in May. They found Pakistan nationals sending money via other countries. Pakistan is labeled a 'high risk' jurisdiction. A report accuses a Pakistan entity of evading sanctions.
Published on: August 26, 2025
The government has selected Goldman Sachs as the transaction advisor. They will manage the divestment of stakes in Indian Overseas Bank, Central Bank of India, UCO Bank, and Punjab & Sind Bank. Goldman Sachs will identify potential investors. They will structure deals for smooth execution. This move signals the government's commitment to disinvestment.
Published on: August 25, 2025
In a notice to stock exchanges on August 21, Grihum Housing Finance had announced that its current MD & CEO Manish Jaiswal will step down with effect from August 31. Jaiswal will continue as an advisor to the board until December 31. The company had said it would identify a suitable candidate for the top post in due course.
Published on: August 25, 2025
Stress is rising in micro, small and medium enterprises and vehicle finance. MSME borrowers with multiple loans are increasing. Portfolio at risk is also up for unsecured biz loans. Micro MSME loan defaults are a concern for NBFCs. Smaller SME loans face growing stress. Banks report more high-risk borrowers. Unsecured personal loan defaults are significantly higher than before.
Published on: August 25, 2025
Bank of Maharashtra aims to meet the 25% minimum public shareholding. Another share sale will help the bank lower government stake. The finance ministry has asked five public-sector banks to increase public shareholding by August 1, 2026. BoM raised Rupees 3,500 crore through a QIP in October. The bank is evaluating fundraising options.
Published on: August 25, 2025
Reserve Bank of India reports a slowdown in sales growth. Listed private non-financial companies witnessed a 5.5 percent increase in Q1 2025-26. This is a dip from the previous year's 6.9 percent. Manufacturing and IT sectors also experienced moderated growth. Raw material expenses saw a slower increase. Staff costs for various sectors rose, but at a reduced rate.
Published on: August 25, 2025
Boston Consulting Group reports that AI adoption could reshape 35-50% of Indian banking jobs, addressing limited productivity gains despite increased IT spending. Banks are urged to embrace technology to overcome cost structure challenges. The report also highlights the need for faster credit growth to support India's development goals and concerns over the slow expansion of credit access to new customers.
Published on: August 25, 2025
Rajiv Anand assumes leadership at IndusInd Bank, prompting the dissolution of the interim committee formed after the resignations of the previous CEO and deputy due to misaccounting of derivative trades. The bank has addressed legacy issues and control gaps during the interim period. IndusInd Bank is now focused on growth with enhanced governance under Anand's direction.
Published on: August 25, 2025
Vistaar Financial Services secured ₹1,360 crore, including ₹870 crore in primary capital, to fuel its expansion. Motilal Oswal Alternates led the funding round, with participation from ABC Impact and others. This investment will enable Vistaar to enhance its presence in underserved markets and drive innovation, building on Warburg Pincus's 2023 majority stake acquisition.
Published on: August 25, 2025
Rajiv Anand has officially assumed the role of CEO and managing director at IndusInd Bank, as announced in a recent exchange filing. Anand's appointment follows his previous position as deputy managing director at Axis Bank and a career spanning key roles in global financial institutions.
Published on: August 25, 2025
As the Adani Group continues to navigate its financial future, the shift towards domestic lenders appears to be a strategic move, reflecting both the changing dynamics of Indian banking and the group's efforts to maintain financial stability in a rapidly evolving market.
Published on: August 25, 2025
State Bank of India (SBI) has urged the Reserve Bank of India (RBI) to permit banks to finance acquisitions, a practice currently prohibited. This restriction forces companies to seek funding from non-banking financial companies or through bond issuances. SBI's chairperson, Challa Sreenivasulu Setty, suggested initiating this change with large, publicly listed companies.
Published on: August 25, 2025
The housing finance industry is experiencing significant leadership changes as three managing directors have resigned in recent weeks. Manish Jaiswal of Grihum, Girish Kousgi of PNB Housing Finance, and Monu Ratra of IIFL Home Finance are all departing. These leaders were crucial in scaling businesses and improving asset quality, and their exits may impact the home financiers.
Published on: August 24, 2025
Visa is engaging with Indian stakeholders to revive the New Umbrella Entity (NUE) framework and explore alternative settlement systems, aiming to enhance interoperability with UPI and expedite transaction settlements. Visa envisions a future where digital credentials, enhanced by biometrics and AI, streamline payments and reduce reliance on traditional methods like OTPs and physical cards.
Published on: August 24, 2025
Life insurers in India, including LIC, HDFC Life, and SBI Life, are strategically increasing the minimum and average policy values to enhance persistency and reduce policy lapses. This shift is driven by the understanding that higher-value policies correlate with better renewal rates and financially stable customers.
Published on: August 24, 2025
The banking sector's loan loss provisioning surged to a three-year high in the June quarter, driven by increased provisioning from private sector banks. While private banks saw a significant rise, public sector banks reported a decline in provisioning. This increase was influenced by one-off provisioning events and policy changes at certain banks.
Published on: August 24, 2025
The Reserve Bank of India has approved Sumitomo Mitsui Banking Corporation's (SMBC) application to acquire up to 24.99% stake in Yes Bank, clarifying that SMBC will not be classified as a promoter. SMBC is set to initially acquire a 20% stake from existing investors, including SBI and other private banks, valued at ₹13,500 crore.
Published on: August 23, 2025
Sumitomo Mitsui Banking Corporation (SMBC) has secured approval from the Reserve Bank of India to acquire up to 24.99% of Yes Bank. The deal, initially set at a 20% stake for $1.6 billion, marks a significant cross-border M&A transaction in India's financial sector. The RBI has also decided that SMBC will not be considered a "promoter" of Yes Bank post-acquisition.
Published on: August 23, 2025
In protection products, commissions initially range between 35% and 40% before tapering off, averaging about 5-6% over time. On top of this, insurers incur about 10% in other expenses. Currently, service tax of around 2% on such costs is offset through input tax credits. If GST exemptions remove that credit, insurers will have to bear the additional expense.
Published on: August 22, 2025
South Indian Bank has introduced SIB Gold Xpress, a new gold loan product designed for quick and easy credit access. Borrowers can unlock up to 90% of their gold's value, with loans ranging from Rs 25,000 to Rs 25 lakh and flexible tenures up to three years.
Published on: August 22, 2025
The RBI's Central Board has approved the nomination of Executive Director Indranil Bhattacharyya as an ex-officio member of the Monetary Policy Committee (MPC). During the 618th meeting, the board reviewed the global and domestic economic environment, including geopolitical developments and financial market challenges. The board also assessed the functioning of select central office departments, board committees, and the Ombudsman Scheme.
Published on: August 22, 2025
Care Edge Ratings reports a significant improvement in Indian banks' asset quality for Q1FY26. Gross NPAs fell to 2.3%, driven by better asset management and recoveries, though microfinance and unsecured loans showed some stress. Despite a slight sequential increase in NPAs, the overall structural improvement is evident, with NNPA ratios at a post-AQR low of 0.5%.
Published on: August 22, 2025
A new report suggests good news for Indian banks. Bad loans are expected to remain low in FY26. Care Ratings reports a 15-year low of 2.3-2.4%. Corporate deleveraging and declining GNPA are helping. The system-level GNPA ratio has already declined. It reached 2.3% in June 2025. However, private sector banks saw a rise in bad loans.
Published on: August 21, 2025
Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.
Published on: August 21, 2025
DIPAM Secretary Arunish Chawla anticipates the completion of the IDBI stake sale this fiscal year, citing the near completion of due diligence by qualified bidders. The government has already secured Rs 20,000 crore in the first quarter against the Rs 47,000 crore asset monetisation target. Further stake sale in LIC is under consideration by an inter-ministerial group.
Published on: August 21, 2025
Tax experts suggest that the proposed GST exemption on individual health and life insurance policies would primarily benefit term and health insurance plans. They also recommend exempting key input services like commission and reinsurance to prevent input tax credit blockage.
Published on: August 21, 2025
Banking, Financial Services and Insurance Global Capability Centres in Mumbai face talent shortage. A report by Quess Corp projects the sector to reach USD 125-135 billion by 2032. There is a 42 percent skill gap in AI and data. Tier II cities like Jaipur and Kochi are emerging as hiring hubs. Companies are investing in cybersecurity and regulatory technology.
Published on: August 21, 2025
Just before Ganesh Chaturthi, bank credit grew faster than deposits. RBI data shows credit growth at 10.22% and deposit growth at 10.05%. Last year, credit growth was higher at 13.7%. Bankers anticipate stronger credit growth in the second quarter, driven by festive demand. Deposit growth is slow due to repricing and alternative investments.
Published on: August 21, 2025
Bank-fintech collaborations are enhancing pricing and risk underwriting accuracy, particularly for non-prime borrowers, according to Julapa Jagtiani. Marina Niessner highlighted the significant influence of financial social media on investment decisions, while cautioning about the risks of misleading content. Prof. Raghavendra Rau critically evaluated AI models, emphasizing their potential for errors in financial judgments due to a lack of genuine understanding.
Published on: August 21, 2025
