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Depositors of the scam-hit New India Co-operative Bank met with RBI advisors and officials, urging for a revival roadmap or merger plan following restrictions imposed in February 2025. The depositors are seeking increased withdrawal limits and greater protection of their interests. RBI officials acknowledged the depositors' concerns and promised to address them with higher authorities.
Published on: April 19, 2025
Indian banks, including HDFC Bank and SBI, are strategically reducing savings account interest rates by 25 basis points to protect profitability amid declining CASA ratios. This move aims to lower the cost of funds and improve net interest margins, even as deposit growth faces challenges. Experts anticipate limited fund migration despite depositors shifting towards higher-yielding term deposits.
Published on: April 19, 2025
SEBI has requested banks to provide updates on their progress in implementing the Cybersecurity and Cyber Resilience Framework (CSCRF). Banks are required to share details on the adoption of CSCRF controls and any challenges faced. While the initial deadline was extended twice, SEBI has emphasized that there will be no further extensions beyond June 30, 2025.
Published on: April 18, 2025
Dinesh Kumar, like many others, faced significant losses after investing in Gensol Engineering based on social media influencers' advice. These influencers, some unregistered, promoted the stock without proper disclosures, leading unsuspecting investors into a trap. The Gensol saga highlights the dangers of relying on hype and the importance of due diligence in investment decisions, especially with unregulated financial advice.
Published on: April 18, 2025
Power Finance Corp and IREDA are pursuing legal options to protect their ₹977 crore loan exposure to Gensol Engineering after promoters faced a capital market ban for alleged fund diversion. Sebi's investigation revealed forged letters regarding loan repayments, prompting show-cause notices from the lenders.
Published on: April 18, 2025
The RBI's OMO purchase witnessed robust demand, with bids exceeding the notified amount, indicating banks' eagerness to capitalize on higher bond prices. Longer-tenured bonds were auctioned at a discount, while shorter-tenured bonds traded near market levels. Ample system liquidity, supported by RBI actions, has driven bond yields below 6.40%, with further OMOs planned to maintain stability.
Published on: April 17, 2025
To bolster risk management, banks will increase scrutiny of loans exceeding ₹250 crore, emphasizing post-sanction monitoring. State-run banks will re-engage Agencies for Specialised Monitoring (ASMs) in consortium lending, enhancing early warning systems for fund diversions. These measures align with the government's strategy for early recognition and resolution of stressed assets, promoting prudent lending.
Published on: April 17, 2025
In early April, deposit growth significantly outpaced loan demand, with deposits rising by 2.4% compared to a 0.9% loan increase. While yearly deposit growth trails credit growth, recent liquidity improvements and attractive deposit schemes have boosted savings. Experts anticipate credit growth to rebound in subsequent quarters, driven by economic expansion and increased capital expenditure, potentially growing by 1-2% in FY26.
Published on: April 17, 2025
India's IndusInd Bank on Thursday named Santosh Kumar as its deputy CFO, with effect from April 18.Kumar will head the finance and accounts functions till IndusInd appoints a full-time CFO, the lender said, after deputy CEO Arun Khurana's term as finance chief ends.
Published on: April 17, 2025
The Reserve Bank of India has levied penalties on Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank due to regulatory compliance deficiencies. Kotak Mahindra Bank faces a Rs 61.4 lakh penalty for non-compliance with loan system guidelines, while IDFC First Bank is fined Rs 38.6 lakh for KYC violations. Punjab National Bank received a Rs 29.
Published on: April 17, 2025
IRDAI has clarified that the 10% cap on health insurance premium hikes for senior citizens applies only to new or repriced products filed after January 31. Existing policies can still face increases exceeding 10%, potentially up to 60%, based on claims experience. Insurers await written clarification, especially regarding long-term products and renewals without repricing.
Published on: April 17, 2025
ICRA anticipates that Indian borrowers will benefit from the RBI's proposed 'blended interest rates' for co-lending loans. The draft framework by RBI aims to enhance co-lending regulations, extending coverage to all asset segments and NBFC-to-NBFC arrangements. Borrowers may experience reduced interest rates due to the blended rate calculation.
Published on: April 17, 2025
Bureau has appointed Venkat Srinivasan as chief analytics and risk officer to lead its data science strategy and expand its global risk intelligence stack. Srinivasan's extensive experience across global financial institutions will be crucial in developing next-generation decisioning models. This appointment follows Bureau's Series B funding, supporting its expansion to serve global fintechs and e-commerce players.
Published on: April 17, 2025
IDFC FIRST Bank is set to receive a significant capital infusion of Rs 7,500 crore from Warburg Pincus and the Abu Dhabi Investment Authority (ADIA). This investment aims to fuel the bank's next growth phase, building upon its transformation from an infrastructure-focused institution to a technology-driven universal bank.
Published on: April 17, 2025
The Reserve Bank of India is intensifying scrutiny of NBFCs' partnerships with fintech loan service providers (LSPs). RBI officials are directly engaging with LSPs, focusing on KYC compliance, data handling, and customer communication transparency. The regulator is also evaluating concentration risks arising from over-reliance on a few LSPs, concerned about potential systemic vulnerabilities and cybersecurity threats.
Published on: April 16, 2025
The Competition Commission of India (CCI) has approved Patanjali Ayurved and five other entities' proposal to acquire a majority stake in Magma General Insurance. This acquisition, facilitated through the green channel route, allows Patanjali Ayurved to become Magma General Insurance's promoter.
Published on: April 16, 2025
ICICI Bank has decreased its savings account interest rates by 25 basis points, mirroring recent actions by HDFC Bank and Axis Bank. This move, aimed at reducing the cost of savings accounts, could improve banks' Net Interest Margin.
Published on: April 16, 2025
Yes Bank has received a demand notice of Rs 244.20 crore for the assessment year 2016-17. The bank plans to file a rectification application with the Jurisdictional Assessing Officer (JAO) immediately, deeming the demand unsubstantiated. Yes Bank will also pursue all available remedies, including filing an appeal against the order.
Published on: April 16, 2025
Trillionloans Fintech, a BharatPe subsidiary, has appointed Sandeep Singh as CEO to spearhead its next growth phase. Singh's extensive experience in digital lending and financial services will be crucial in scaling the company's tech-driven credit solutions. Sabyasachi Senapati transitions to BharatPe Group to lead key growth initiatives, ensuring a smooth handover and continued strategic direction for Trillionloans.
Published on: April 16, 2025
Financial Intelligence Unit-India (FIU-IND) in its order dated April 15 imposed a penalty of Rs 37 lakh for "discrepancies observed in a matter for the year 2011 to 2014 in reporting of suspicious transaction".
Published on: April 16, 2025
Ajay Bhushan Prasad Pandey, former finance secretary of India, has been appointed as the vice-president of the Asian Infrastructure Investment Bank (AIIB). He will manage investment solutions and oversee key departments. India stands as the largest borrower from the AIIB, with approved projects totaling $10.45 billion, highlighting the bank's significant role in supporting infrastructure development in the country.
Published on: April 15, 2025
Indian companies' external commercial borrowings surpassed $50 billion in FY25, with February registrations at $2.63 billion. Tata Steel led borrowers, raising $750 million for overseas investments. Varanasi Aurangabad NH-2 Tollway secured over $370 million for refinancing and infrastructure, while NBFCs like Mahindra & Mahindra Financial also tapped into foreign loans.
Published on: April 15, 2025
IndusInd Bank disclosed a Rs 1979 crore loss in its derivative portfolio due to account discrepancies, as revealed in a PWC report. The bank anticipates a 2.27% negative impact on its net worth by December 2024.
Published on: April 15, 2025
CRISIL forecasts a boost in bank loan growth to 12-13% in FY2026, driven by interest rate cuts, tax breaks, and regulatory support. Retail loan growth is expected to rise, fueled by home loans, while corporate credit will benefit from infrastructure investments and relaxed risk weights for NBFCs. Deposit growth and corporate bond market dynamics remain key factors.
Published on: April 15, 2025
Cautious lending practices led to reduced borrowing during the festive season, according to a Crif High Mark report. Home loan growth was marginal, while personal and consumer durable loans declined. Tighter liquidity, rising household debt, and stricter regulations contributed to the muted growth in auto and two-wheeler loans, impacting overall loan originations.
Published on: April 15, 2025
Neelu Analjit Singh, ex-wife of Max Group's founder, seeks reclassification from promoter to public shareholder in Max Financial Services, following a settlement with Analjit Singh. This request comes after their divorce and an agreement segregating assets, ensuring Analjit Singh's continued control. Additionally, Max Financial Services sees a CFO transition, with Nishant Kumar Gehlawat succeeding Amrit Pal Singh.
Published on: April 15, 2025
Crisil projects bank credit growth to accelerate to 12-13% in FY26, driven by regulatory support, tax cuts, and softer interest rates. Corporate credit is expected to rise, fueled by NBFC disbursements and infrastructure development. Retail credit will also see growth, supported by improved affordability, while deposit growth remains a key factor to monitor.
Published on: April 15, 2025
Fitch Ratings suggests the RBI's draft guidelines for gold-backed loans will enhance regulatory clarity and compliance, though increasing operational complexity, especially for smaller NBFIs. The proposals aim to reduce uncertainty and strengthen oversight in the fast-growing gold loan segment. While large gold-loan specialists are well-positioned to adjust, the rules could slow loan approvals and raise costs, particularly in rural areas.
Published on: April 15, 2025
Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer to spearhead financial strategy and sustainable growth. Anchliya, with 15 years of experience across finance and M&A, will report to CEO Akash Sinha. His expertise will be crucial as Cashfree scales operations.
Published on: April 15, 2025
India aims to onboard millions to its Unified Payments Interface (UPI) and promote its global adoption. NPCI plans to add 200-300 million users by introducing delegated accounts and expanding features. While UPI's popularity surges, discussions around reinstating transaction fees to ensure viability are ongoing, potentially impacting future growth.
Published on: April 15, 2025
Poonawalla Fincorp Ltd. has entered the gold loan market, aiming to broaden its secured lending options. This new product offers quick, transparent financing for various needs, with approvals promised in under 30 minutes. The company plans to open 400 branches in Tier 2 and 3 cities to tap into the growing demand, focusing on trust and customer service.
Published on: April 15, 2025
Alberta Investment Management Corporation (AIMCo) is in preliminary talks to acquire a significant minority stake in Maple Infrastructure Trust, an Indian infrastructure trust owned by CDPQ. CDPQ aims to raise $300-400 million through this fundraising round, with PSP Investments also in contention.
Published on: April 14, 2025
Under Mudra Yojana, Pankaj Chaudhary said that the government has provided collateral-free loans exceeding Rs 33 lakh crore to 52 crore individuals. These loans, ranging from Rs 50,000 to Rs 20 lakh, have empowered people to start businesses. A significant 68 percent of beneficiaries are women, contributing to economic development.
Published on: April 14, 2025
IPL 2025: The Indian Premier League's popularity fuels a massive gambling market, straining Indian banks' IT infrastructure as they manage a surge in real-time transactions via the Unified Payments Interface. Banks face pressure to maintain seamless service for betting platforms while combating fraud and money laundering.
Published on: April 14, 2025
Bank of Maharashtra (BoM) has lowered its repo-linked lending rate by 25 basis points to 8.80%, following the RBI's rate cut. This reduction will make retail loans, including home and car loans, more affordable for customers. Similarly, Indian Overseas Bank (IOB) also reduced its benchmark lending rate, passing on the benefits to its customers by decreasing the RLLR to 8.85%.
Published on: April 14, 2025
Banks are advocating for a unified insurance repository and shared access to customer data to combat loan fraud involving life insurance policies. This proposal, presented to the government, aims to address the rising instances of fraudulent surrender value certificates and policies already encumbered.
Published on: April 13, 2025
HDFC Capital will invest Rs 1,500 crore in Eldeco Group's 18 upcoming residential projects across tier II-III cities, targeting a revenue potential of Rs 11,000 crore. This partnership aims to develop over 10 million square feet of housing in towns like Panipat, Rudrapur, and Ludhiana.
Published on: April 13, 2025
HDFC Bank has cut its savings account interest rate by 25 basis points to 2.75%, the lowest among private sector peers, effective April 12. This decision follows the RBI's recent repo rate cuts and aims to boost term deposits while managing net interest margins. The move aligns HDFC Bank's savings rate closer to public sector banks like SBI and PNB.
Published on: April 13, 2025
To combat cyber fraud via mule accounts, banks are urging for authority to freeze suspicious accounts swiftly, bypassing lengthy approval processes. The Indian Banks' Association suggests using AI and ML for enhanced monitoring and verifying accounts opened with voter IDs through the Election Commission database.
Published on: April 13, 2025
Punjab National Bank celebrated its 131st foundation day by launching 34 new products, including customer-centric deposit schemes and digital transformation initiatives. Financial Services Secretary M Nagaraju commended PNB's efforts to deepen financial inclusion and enhance customer experience. The bank also organized a 'Cyber Run' to promote cybersecurity awareness and safe digital banking practices.
Published on: April 12, 2025
The Reserve Bank of India has introduced a new framework allowing banks and NBFCs to directly sell stressed assets to investors through special purpose entities, aiming to broaden the distressed debt market. This initiative introduces resolution managers to maximize asset recovery, while lenders must incrementally provision for securitized notes. ARCs may face increased competition, particularly for mid-sized and retail loans.
Published on: April 12, 2025
Indian Overseas Bank has lowered its Repo Linked Lending Rate by 25 basis points, effective immediately. This decision follows the Reserve Bank of India's reduction of the Policy Repo Rate to 6 per cent. The bank's Asset Liability Management Committee decided to pass on the rate cut to customers, reducing the lending rate from 9.10 per cent to 8.
Published on: April 12, 2025
Lenders led by Union Bank of India are set to auction the Rs 700 crore debt owed by Sahara Star Hotel after the insolvency plea was rejected. Banks are seeking all-cash bids after the offer from National Asset Reconstruction Company was deemed too low.
Published on: April 12, 2025
PwC has concluded its accounting review of IndusInd Bank's derivatives portfolio, submitting draft findings to management amidst discrepancies in forex derivative transactions. While the review focused on accounting, Grant Thornton Bharat is conducting a forensic investigation to determine the root cause and accountability for mark-to-market derivative losses.
Published on: April 12, 2025
Private sector banks spearheaded loan pool sales in fiscal year 2024-25, driving securitization volume to a record high of Rs 2.35 lakh crore. This surge represents a 24% year-on-year increase. While overall performance was strong, the fourth quarter saw a dip due to reduced NBFC disbursements amid unsecured loan segment stress.
Published on: April 11, 2025
Anand Rathi Insurance Brokers has appointed Sumit Dutt as its new Chief Executive & Principal Officer. Dutt brings over three decades of experience in insurance and financial services. Anand Rathi Group's Chairman expressed confidence in Dutt's leadership to drive innovation and excellence.
Published on: April 11, 2025
About 60% of commercial bank's loans are pegged to external benchmarks, like the policy repo rate that was lowered the second time in as many months to 6%. For private sector banks, the share of external benchmarks lending rate (EBLR) loans-or advances linked to repo rate-is 85.9%, while for public sector banks it is 44.6%. Effectively, the margins of private banks are expected to be impacted more than PSU banks.
Published on: April 10, 2025
RBI Deputy Governor Swaminathan J. urged NBFCs in Chennai to prioritize customer dignity and transparent pricing, cautioning against exploitative practices masked as fees and unsustainable interest rates. He emphasised that financial inclusion should not be a pretext for financial exploitation.
Published on: April 10, 2025
RBI's draft guidelines on partial credit enhancement (PCE) are poised to revolutionize corporate financing, particularly for infrastructure projects. By reducing capital requirements and increasing the PCE limit to 50%, the move will enable companies to access bond markets at lower rates.
Published on: April 10, 2025
Bank of Baroda has announced a reduction in its lending rates. This follows the Reserve Bank of India's decision to cut policy rates. The rate cut will benefit retail and MSME loan customers. The bank has reduced its external benchmark-linked lending rates by 25 basis points. However, the marginal cost of funds-based lending rate remains unchanged at 9 percent.
Published on: April 10, 2025
