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Banking/Finance-Industry-Economic Times
Reliance Industries Limited is planning to raise ₹10,000 crore next week through a ten-year maturity bond. Other firms, including Adani Airport Holdings, will raise significant funds as well this Friday. The increasing number of companies tapping debt indicates the surplus liquidity in the banking system. This trend is occurring ahead of the Reserve Bank of India's monetary policy decision on October 7.
Published on: September 24, 2026
Shares of insurers, banks, and non-banking finance companies dropped sharply following proposed commission caps by Irdai. The proposals raised concerns over the outlook for businesses reliant on insurance distribution. Major companies such as PB Fintech and Max Financial Services experienced significant declines. Analysts indicate that banks and NBFCs could face negative impacts from the changes in commission structures.
Published on: September 24, 2026
In August, credit card spending decreased by 2.8% to ₹2.02 lakh crore from July's ₹2.08 lakh crore. While year-on-year spending saw an increase of 5.9% compared to August 2025, the trend indicates moderation. Additionally, banks added 1.19 million new credit cards, down 5.6% from July's figures. This brings the total credit card tally to 124.1 million at the month's end.
Published on: September 24, 2026
National Payments Corporation of India plans to introduce a 0.4% merchant discount rate for UPI transactions. This could help recover about ₹13,000-15,000 crore of annual costs while most transactions remain free. According to CEO Dilip Asbe, 80% of the MDR would come from large businesses already accepting credit cards. He noted that reintroducing charges after six years of zero MDR is necessary due to slowed investments.
Published on: September 24, 2026
Axis Bank is set to launch an extensive outreach program across India, spotlighting tourism and hospitality sectors in Goa. The initiative plans to engage over 5,000 customers and honour approximately 1,000 entrepreneurs.
Published on: September 24, 2026
The GST Council will meet on October 7 to discuss GST levy on UPI merchant fees exceeding Rs 2,000. The government has proposed a 0.4 percent merchant discount rate that will apply from October 15. This merchant discount rate will be capped at Rs 300 and is considered a taxable service under GST. Merchants will be able to claim Input Tax Credit on the GST paid on the merchant fees.
Published on: September 24, 2026
Government sources clarified that the proposed merchant fee on UPI transactions above Rs 2,000 will not affect consumers. National Payments Corporation of India noted that a small portion of UPI transactions might be impacted. The amount collected will be shared among banks and stakeholders within the UPI ecosystem. The Indian Banks' Association plans to address misunderstandings about the charges soon.
Published on: September 24, 2026
Under the proposed framework, distributors could be rewarded for the quality of sales and servicing, while commissions could be clawed back in cases of mis-selling. The regulator has also proposed greater accountability for individual sales staff by tagging their identity to policies sold and putting information on mis-selling incidents in the public domain.
Published on: September 24, 2026
Proposed commission caps from the Insurance Regulatory and Development Authority of India could severely impact PB Fintech's revenue. The company anticipates a potential reduction in income from general insurance to 33-40% of current levels. As a response, PB Fintech plans to enhance cost control measures and shift its focus toward profitability.
Published on: September 24, 2026
Reserve Bank Deputy Governor Rohit Jain stated that banks are expected to deploy additional liquidity from FCNR(B) deposits. This deployment is likely driven by anticipated strong credit demand during the festive season. The RBI will not direct banks towards specific sectors for fund utilization, allowing for discretion based on credit proposals. Jain emphasized that credit demand is broad-based across different sectors, indicating a healthy economic environment.
Published on: September 24, 2026
Morgan Stanley is scrambling to contain the fallout from an accidental email leak that exposed a list of more than 100 potential and ongoing deals across Asia and other regions.
Published on: September 24, 2026
Insurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Proposed limits on commissions aim to reduce mis-selling and distribution costs in the insurance market. The changes could significantly impact banks, brokers, and digital distributors dependent on commissions for income. Insurers may need to adapt their distribution models in response to the proposed regulations.
Published on: September 24, 2026
RBI Deputy Governor Rohit Jain said technology is no longer merely an enabler for banks but is becoming their “risk architecture”, making technological resilience as important as financial resilience. He urged banks to treat technology risk as a first-order enterprise risk, with stronger governance, cybersecurity, third-party oversight and AI controls.
Published on: September 24, 2026
CII said India’s manufacturing sector is shifting from simply expanding capacity to building domestic supply chains, developing technology and integrating deeper with global markets as Make in India completes 12 years.
Published on: September 24, 2026
Gold may have pushed silver into the spotlight, but the shift is not just about price. Younger Indians, in particular, are looking at silver differently, seeking jewellery they can experiment with and wear more often — something that is harder to do with gold at current prices.
Published on: September 24, 2026
Irdai has proposed an overhaul of the commission payment structure for insurance distributors across various products. This new framework aims to establish limits based on product type, distribution channel, and policy size. Additionally, Irdai suggests reducing life and general insurers' overall expense limits within specific timeframes. The commission structure varies significantly between health and property insurance, reflecting market demand.
Published on: September 23, 2026
Irdai proposes prohibiting dark patterns on insurance websites that require personal details to access information. The reforms aim to improve transparency and make insurance distribution more customer-centric. A new framework categorizing distribution entities is also suggested to simplify the existing structure. Proposed changes include reducing Expense of Management limits for life and general insurers to lower costs.
Published on: September 23, 2026
State Bank of India will start charging a merchant discount rate on UPI payments exceeding Rs 2,000 from October 15. The bank anticipates generating surplus revenue due to its extensive card issuing and payment gateway services. Initially, MDR fees will be divided among issuing and acquiring banks, payment gateways, and UPI applications. SBI is evaluating the potential impact of transaction splitting on its systems and volumes.
Published on: September 23, 2026
Savings accounts are crucial for achieving financial security and generating passive income. By routinely evaluating various savings options, individuals can benefit from higher interest rates. It's important to refrain from unnecessary withdrawals to fully capitalize on interest accumulation. Utilizing features like Auto Sweep can further optimize surplus funds while keeping them accessible, and establishing clear saving objectives can inspire effective savings growth.
Published on: September 23, 2026
The Finance Ministry has announced that all Public Sector Banks and Regional Rural Banks will operate normally on September 27. This decision follows the United Forum of Bank Unions' proposal for a three-day nationwide bank strike. The government is focused on ensuring the banking needs of citizens are met without disruption. Customers can access banking services uninterrupted during this period for their convenience.
Published on: September 23, 2026
JPMorgan Chase & Co. plans to expand its operations at Gujarat's GIFT City in the next few years. The bank aims to double its business in areas like trade finance and payments. After establishing its branch in 2022, JPMorgan currently serves a few hundred clients with a book of nearly $1 billion. GIFT City is attracting multinational companies exploring treasury and cross-border financial operations.
Published on: September 23, 2026
SBI, Bank of Baroda and Canara Bank have advised customers to complete important branch transactions in advance ahead of a proposed bank strike from September 28 to 30, 2026, and use digital and self-service channels during the period.
Published on: September 23, 2026
In situations where banks are inundated with liquidity, the natural tendency among many lenders is to push loans and go down the credit matrix. The fear is that such aggressive lending to generate returns that cover the interest outgo on deposits and other costs may show up as sticky assets a few years down the line.
Published on: September 22, 2026
The state-owned general insurer holds 35.2 million shares, representing a 1.42% stake, in the country's largest stock exchange that closed its ₹22,562-crore initial public offer (IPO) on Monday.
Published on: September 22, 2026
Its composition is being finalised and is likely to include a former Reserve Bank of India (RBI) deputy governor, industry leaders from the fintech sector and an Indian Banks' Association (IBA) nominee, said people familiar with the matter.
Published on: September 22, 2026
With a smaller share of customers carrying balances month to month, interest-bearing receivables are growing more slowly than transaction volumes, pushing issuers to convert purchases into EMIs, deepen personal loan-on-card offerings and extract more fee income from a business that is increasingly being used as a payment product rather than a borrowing product.
Published on: September 22, 2026
Managing a personal loan EMI requires balancing monthly affordability with the overall cost of borrowing. This article explores practical ways to manage EMI commitments, including choosing an appropriate tenure, making partial prepayments, limiting unnecessary borrowing, reviewing expenses and comparing repayment scenarios using an EMI calculator.
Published on: September 22, 2026
Razorpay-backed POP has launched POPchop, a BNPL product allowing eligible shoppers to split purchases into three interest-free payments over three months. The move marks POP’s expansion from UPI, rewards and commerce into consumer credit as fintechs seek new ways to monetise their user bases.
Published on: September 22, 2026
NPCI states GST on UPI Merchant Discount Rate is not a burden. Transactions under two thousand rupees have zero MDR and no GST. Over ninety-six percent of merchant transactions are below this threshold. Merchants can adjust GST paid on MDR against their tax liability. Small merchants receiving under one lakh rupees monthly are exempt from MDR.
Published on: September 22, 2026
PhonePe and Google Pay could earn about $900 million annually from India’s new UPI merchant fee regime by March 2028, according to Bernstein estimates, strengthening their already dominant position. The 0.4% fee on merchant transactions above Rs 2,000 could also encourage payment apps to expand in rural areas and push smaller rivals towards higher-value transactions.
Published on: September 22, 2026
The Reserve Bank of India is actively seeking opinions on the possible appointment of Anup Bagchi as CEO of HDFC Bank. Currently with ICICI Prudential Life, Bagchi is seen as the leading contender for this key position. The RBI is weighing his move back into traditional banking following a break. Furthermore, HDFC Bank has suggested Kaizad Bharucha, which requires adjustments to existing tenure regulations.
Published on: September 21, 2026
Bandhan Financial Services will reduce its stake in Bandhan Bank gradually. The promoter aims to comply with RBI regulations by 2030. Recent share sales occurred on the open market, lowering holdings. A proposed stock split will divide shares to attract retail investors. Shareholders will review this plan at the upcoming annual general meeting.
Published on: September 21, 2026
Government may end UPI subsidies for small transactions as merchant fees are introduced. Taxpayer-funded incentives for UPI and RuPay transactions are being phased out. No new subsidies have been paid for transactions since April 2025. This shift aims to make the payment ecosystem self-sustaining and reduce taxpayer burden. Incentive disbursements have significantly decreased in recent fiscal years.
Published on: September 21, 2026
The Finance Ministry urged bank employees to resolve demands through dialogue and avoid strikes. Most union concerns have been addressed, and welfare measures are being introduced. A three-day strike is planned from September 28, impacting banking services. This strike coincides with the half-yearly closing of the banking sector. The government remains committed to employee welfare and constructive engagement.
Published on: September 21, 2026
RNFI Money, a wholly owned subsidiary of RNFI Services, has received RBI approval to undertake cross-border trade remittances. The licence will allow it to expand regulated foreign exchange, remittance and trade-payment services through RNFI’s existing last-mile network, alongside the parent company’s recent in-principle authorisation to operate as a Payment Aggregator–Physical (PA-P). The company said the licence has perpetual validity.
Published on: September 21, 2026
The Reserve Bank of India has issued revised market risk capital requirements for commercial banks, aligning Indian regulations with Basel III standards. Banks must adopt the framework by April 1, 2027. The directions revise rules for trading books, foreign exchange risk, interest rate risk, debt funds and credit derivative hedges.
Published on: September 21, 2026
Streamlined used-car platforms are revolutionizing the buying experience by presenting pre-approved loan options with transparent charges. Unlike traditional banks that may provide attractive rates, they often require lengthy paperwork. It’s essential for buyers to evaluate interest rates and associated costs prior to financing. Financing eligibility is determined by credit scores, income verification, and current debt levels. Services like Cars24 simplify vehicle purchases by incorporating financing directly into the process.
Published on: September 21, 2026
Former NITI Aayog vice-chairman Rajiv Kumar has urged the government to keep UPI merchant payments free for a few more years, warning that even a small fee could push transactions back towards cash. His comments come after the government announced a 0.4% MDR on UPI merchant payments above Rs 2,000 from October 15, while keeping consumer payments free.
Published on: September 21, 2026
A notable achievement for Indian banks occurred as they received USD 127 billion through a dedicated deposit scheme. This influx has significantly improved the funding environment and liquidity levels. Favorable interest rates lured substantial deposits from the diaspora, ultimately fortifying banks' funding stability. This positive trend in deposits could enhance balance sheets by USD 190-220 billion, bridging any existing asset-liability gaps.
Published on: September 21, 2026
Asset-backed borrowing is gaining traction in India's credit market, particularly through gold-backed lending, which provides essential liquidity without needing to sell investments immediately. The rise of digital platforms is making these services more accessible and transparent. As borrowers seek flexible and short-term funding solutions, this trend showcases a shift in liquidity management and financial habits that cater to modern needs.
Published on: September 21, 2026
HSBC forecasts that foreign currency deposits will significantly enhance its operations in India. By securing $14.5 billion through a special RBI swap facility, the bank aims to expand lending and wealth management services. The attractive leverage option of up to nineteen times has drawn in depositors. HSBC's strategy is to deploy these funds cautiously toward corporate lending and mortgage offerings.
Published on: September 20, 2026
Banks are developing a common framework for project finance lending. This initiative aims to curb regulatory arbitrage and operational misalignment among lenders. Discussions will involve state-run and private banks to establish common parameters. Such alignment will enhance risk mitigation and avoid divergent audit observations. Final guidelines by bank boards are expected to reduce regulatory arbitrage scope.
Published on: September 20, 2026
The Institute of Chartered Accountants of India will propose Act changes soon. These changes aim to help Indian firms compete globally. The Prime Minister's Office has discussed regulatory adjustments for domestic companies. ICAI plans to revise networking and practice guidelines for broader collaboration. This initiative seeks to create larger, more capable professional entities.
Published on: September 20, 2026
Financial services secretary Sanjay Lohia has called a meeting with public sector bank, RRB and NABARD heads on Monday to ensure uninterrupted banking services during a proposed three-day strike from September 28. AIBEA is demanding a five-day banking week and has warned of an indefinite strike from October 26 if its demand remains unresolved.
Published on: September 19, 2026
Finance Ministry will meet bank executives on Monday. They will discuss continuity of banking operations during a three-day strike. The United Forum of Bank Unions called the strike for September 28. This strike will impact banking services for five days. Bank unions demand a five-day banking week and pension updates.
Published on: September 19, 2026
Bank credit growth reached a sixteen-month high, while deposits grew at a slower pace. This widened the credit-deposit gap, increasing funding pressure on banks. Finance sector lending, especially to NBFCs, drove credit expansion significantly. Public sector banks saw higher credit growth but less headroom. Deposit mobilization remains crucial for banks facing persistent competition for savings.
Published on: September 19, 2026
Published on: September 19, 2026
Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source. This service helps workers establish formal financial records for credit applications. Platforms like Zomato and Swiggy facilitate these filings for numerous partners. This shift signifies growing tax compliance within India's gig economy.
Published on: September 19, 2026
SBI Research indicates FCNR(B) deposits may yield substantial profits for banks and the RBI. The report refutes earlier estimates of significant financial losses from the scheme. Mobilized funds could support additional bank credit and generate considerable interest income. Hedging costs are considered manageable, and the RBI could see added profitability. This scheme's liquidity will support credit demand amid outflows and prudent risk management.
Published on: September 19, 2026
The government is in negotiations with payment aggregators over new UPI transaction fees, ensuring that these charges will not be imposed on consumers, as stated by officials. The finance ministry will closely monitor adherence to the new guidelines on a daily basis. Revenue generated will aid small merchants in embracing UPI, striking a balance between managing costs and fostering digital payment expansion.
Published on: September 18, 2026
