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Banking/Finance-Industry-Economic Times
India's Ayushman Bharat health scheme is a lifeline for cancer patients, improving access to treatment. A new study highlights its strengths and areas for improvement. While the scheme covers many treatments, a funding gap exists. Experts suggest smarter spending, early detection, and revised benefit caps to save lives and reduce costs. Policy changes are underway to enhance cancer care.
Published on: March 15, 2026
Axis Bank must pay Procure Logistics Services Pvt Ltd Rs 3.19 crore. The National Consumer Disputes Redressal Commission found the bank deficient in service. Axis Bank refused to accept demonetised currency notes from the company during the 2016 demonetisation period. This refusal caused the company a direct and irreversible loss. The commission ordered payment with interest.
Published on: March 14, 2026
IDBI Bank sale: An outright cancellation of the strategic sale of IDBI will make it harder for the government to realise its FY27 disinvestment and asset monetisation target of ₹80,000 crore. At Friday's share price on the BSE, the sale of a 30.48% stake in IDBI Bank could fetch the government about ₹30,215 crore.
Published on: March 13, 2026
In response to evolving healthcare needs, Shriram General Insurance Company announced the launch of Shri Health Suraksha 2.0, an enhanced health insurance suite engineered for greater flexibility and 'all-inclusive' protection. This indemnity plan addresses critical gaps in traditional coverage by removing standard caps on room charges and adding unlimited restoration benefits.
Published on: March 13, 2026
Bank credit saw a strong 14.5% year-on-year growth by February 28. Deposits also expanded, reaching 11.9% growth. This marks an acceleration from the previous fortnight. Scheduled commercial banks hold Rs 251.90 lakh crore in deposits, with fixed deposits forming 87% of this amount. Total bank credit stands at Rs 207.54 lakh crore. The credit-deposit ratio slightly eased to 82.39%.
Published on: March 13, 2026
Shriram Life Insurance is gearing up for a significant leap, projecting a robust 20% growth by the fiscal year 2025-26. To enhance its footprint in the market, the company is forging new alliances with banks, broadening its distribution avenues. This pivotal strategy marks a shift from their prior emphasis on direct distribution methods.
Published on: March 13, 2026
Manappuram Finance has been hit with a fine of Rs 2.70 lakh by the Reserve Bank of India due to lapses in regulatory adherence. The penalty stems from the company’s oversight in postponing variable compensation for essential staff. While this fine aims to rectify compliance issues, it will not impact customer interactions.
Published on: March 13, 2026
The Directorate of Enforcement has searched 19 locations in a Rs 597-crore scam. Public funds meant for fixed deposits were allegedly siphoned off. The investigation involves former bank employees and shell entities. Proceeds were routed through jewellers and real estate developers. Over 90 bank accounts were frozen during the searches.
Published on: March 13, 2026
New banking rules starting April 1 will empower lenders to boost credit by an estimated 7 percent. Banks can now use their existing liquidity for loans, increasing lending capacity. This shift is expected to benefit public sector banks significantly. Analysts believe this will ease concerns about lending growth constraints. Credit expansion may soon outpace deposit growth.
Published on: March 12, 2026
Canada’s 2nd largest pension fund, also the largest institutional investor in infrastructure globally, looks to deploy about $3 bn in next 4-5 yrs.
Published on: March 12, 2026
Banks will discuss internally how such schemes can be designed with a uniform loan application and other credit appraisal metrics. The retail loans will cover all consumer loans, including housing loans, subject to prudent lending guidelines, said an official.
Published on: March 12, 2026
IDFC First fraud: According to the Bureau, a breakthrough has emerged in the case, revealing that several fake firms and companies were created by the prime accused to illegally divert government funds into multiple bank accounts.
Published on: March 12, 2026
Pension disbursing banks must now monitor and ensure pensioners submit digital life certificates. The government has introduced face authentication for easier submission using smartphones. Services of India Post and Payments Bank are also utilized. Mega camps are held to assist elderly, sick, and disabled pensioners. Pension adalats have resolved thousands of long-pending grievances.
Published on: March 12, 2026
South Indian Bank has introduced Employees' Provident Fund payment services through its SIBerNet internet banking platform. This collaboration with EPFO allows employers to easily remit EPF contributions. The integration simplifies statutory payments for businesses. Employers can now use South Indian Bank's net banking facility for direct remittances via the EPFO portal. This move enhances the bank's digital offerings.
Published on: March 12, 2026
Public sector banks (PSBs) outpaced private lenders in credit growth during the December quarter of FY26, with loan growth ranging from 17-28% year-on-year. This surge boosted PSBs' market share in loans to 54.4%, while private banks saw a slight decline. Improved asset quality and corporate lending revival fueled PSB momentum.
Published on: March 11, 2026
India is launching a groundbreaking Virtual Asset Lab to identify unregistered offshore virtual asset service providers. This initiative targets firms that exploit international boundaries to evade Indian regulations and facilitate money laundering. With this proactive measure, India is reinforcing its financial security and enhancing regulatory monitoring in the burgeoning realm of virtual assets.
Published on: March 11, 2026
The state-owned lender Wednesday announced that it will increase the marginal cost of funds based lending rates (MCLR) from Thursday. The two year MCLR will be 8.95% from Thursday, revised from 8.85% while three year MCLR will be 9% against 8.90%, the bank said in a regulatory filing to stock exchanges.
Published on: March 11, 2026
IDFC First Bank fraud case: The agency conducted searches in Haryana and Chandigarh against various business entities who helped the accused persons get accommodation entries to conceal the money trail and proceeds of crime, they said.
Published on: March 11, 2026
The alliance follows recent reforms by India's central bank permitting domestic lenders to finance corporate acquisitions, funding up to 75% of the deal value for listed and unlisted firms.
Published on: March 11, 2026
HDFC ERGO General Insurance has appointed Parthanil Ghosh as its new Managing Director and Chief Executive Officer. Ghosh will assume leadership from Anuj Tyagi. This significant change is scheduled to take effect from April 16, 2026. The decision has received approval from the company's Board of Directors. Regulatory clearances are pending.
Published on: March 11, 2026
Fintech firm CRED has secured final approval from the Reserve Bank of India to function as a payment aggregator. This new authorisation complements its existing Prepaid Payment Instrument license. CRED can now onboard merchants, process payments, and manage settlements. The company reported reduced operating losses and revenue growth in FY25.
Published on: March 11, 2026
Introducing PhonePe's latest innovation: the 'RuPay On-The-Go' Card, your new travel companion! Embrace the future of transit payments with this National Common Mobility Card, allowing you to tap and pay effortlessly on metros, buses, and trains. The brilliance of this card lies in its offline storage, meaning your balance is always at your fingertips.
Published on: March 11, 2026
India's booming digital commerce is marred by "dark patterns," design tactics that trick consumers into overpaying or buying unwanted items. From airlines to quick-comm startups and banks, companies exploit weak regulations and a newly connected population.
Published on: March 11, 2026
UNS markets Seacod, one of India's top-selling cod liver oil capsule brands. The company is expected to be valued at around ₹3,000 crore. Investment bank Rothschild has been appointed to advise Kedaara on the sale process, the people cited above said.
Published on: March 10, 2026
India's National Investment and Infrastructure Fund has raised a remarkable $750 million for its second private markets fund, set to empower Indian companies by strategically partnering with private equity and venture capital firms.
Published on: March 10, 2026
IDFC First said it is implementing two new controls for government, banking and institutional accounts. Under the revised protocol, the bank will first send an email to the registered email ID of the concerned account holder and will clear the transaction only after receiving explicit confirmation from that address, a spokesperson said.
Published on: March 10, 2026
In an effort to bolster India's economic growth, a prestigious government committee is preparing to evaluate the country's banking landscape. Among the topics on the agenda are the potential merging of banks and the limitations on foreign investors' voting rights. The intent is to create robust financial institutions that can contribute significantly to expansion.
Published on: March 10, 2026
RBI is investigating Standard Chartered Bank as a complaint alleges repeated instances of selling assets at a discounted value. The Reserve Bank of India received two complaints related to three developers. One complaint is under examination. A final order for the other complaint is pending. The sale of assets was a commercial judgment.
Published on: March 10, 2026
Banks collected about Rs 19,000 crore in penalties for not maintaining minimum balance between FY23 and FY25, with private banks accounting for around Rs 11,000 crore and public sector banks Rs 8,093 crore, according to data shared in Lok Sabha.
Published on: March 10, 2026
CreditAccess has secured over $300 million in commitments this fiscal. HSBC arranged a social loan facility for the company. These funds will support eligible social projects. The company is diversifying its resource base. This move reinforces investor confidence in the microfinance sector. CreditAccess met over 15% of its borrowing needs through foreign sources this fiscal.
Published on: March 10, 2026
IDFC FIRST Bank has finalized its Chandigarh branch account reconciliation. The bank confirmed no further discrepancies exist. It has paid claimants a net principal amount of ₹645 crore. This brings partial closure to a fraud incident. The bank's deposit balance remains stable. It continues legal action to recover dues.
Published on: March 10, 2026
Senior bankers in Asia are increasingly switching firms as deal activity in the region picks up, triggering fresh hiring and poaching among major global banks. Investment banks including UBS, Citigroup, JPMorgan, Morgan Stanley and Jefferies are competing for talent across sectors such as real estate and equity capital markets.
Published on: March 10, 2026
Kotak Mahindra Bank is exploring acquisitions to deploy its surplus capital and expand its scale, CEO Ashok Vaswani said. The lender has a strong capital position, with a capital-to-risk ratio of 22.6%, allowing it to consider even deals above $1 billion, though it will assess whether targets fit its strategy, valuation and management focus.
Published on: March 10, 2026
The matter was discussed at a meeting involving the RBI, government officials and representatives from the NBFC sector at the department of financial services on February 26. While Section 10 of the Banking Regulation Act mandates banks to follow the rotation policy at the top management and staff levels, there is no such guideline for NBFCs.
Published on: March 9, 2026
The Maharashtra government fulfilled its poll promise waiving loans up to Rs 2 lakh and also offering a Rs 50,000 incentive for farmers regularly paying their loans. The government has earmarked Rs 20,000 crore for the waiver and Rs 15,000 crore for the incentive for non-defaulters. The decision is estimated to benefit 5 million farmers that have outstanding crop loan dues up to September 30, 2025.
Published on: March 9, 2026
IRDAI has issued Certificates of Registration to Allianz Jio Reinsurance and Kiwi General Insurance, granting them final approval to begin operations. Allianz Jio Reinsurance is a joint venture between Allianz Group and Jio Financial Services, while Kiwi General Insurance is supported by WestBridge Capital and former Tata AIG chief Neelesh Garg.
Published on: March 9, 2026
Life insurance new business premium surged 18% in February, propelled by a 24% jump at LIC. This growth is partly attributed to GST tailwinds, making individual life insurance policies cheaper and boosting demand for protection products. The industry saw a significant rise in policies sold and overall premium collection.
Published on: March 9, 2026
With nearly 72 crore basic savings accounts, including PM Jan Dhan accounts, enjoying the perk of no penalties for low balance, this initiative is a game-changer for financial inclusion.
Published on: March 9, 2026
IIFCL is confident that by FY2027, its loan portfolio will soar past Rs 1 lakh crore. To achieve this ambitious target, the company is focused on doubling its asset base in just three years. This expansion will be fueled by a robust pipeline of projects and a commitment to rigorous appraisal standards.
Published on: March 9, 2026
NatWest Group India has appointed Ritu Tushir as its new head of HR in India. Tushir will spearhead the bank's people strategy, focusing on building a future-ready workforce with skills in data, AI, and cloud. Her role emphasizes accelerating reskilling and strengthening cultural enablers like well-being and DE&I.
Published on: March 9, 2026
Data released by the Reserve Bank of India (RBI) shows that several foreign lenders saw a decline in their active card base in 2025, even as the overall credit card market continued to grow rapidly, driven largely by private sector banks. Among major foreign issuers, American Express saw its active cards decline to 1.334 million in January 2026 from 1.453 million a year earlier, a drop of 118,000 cards.
Published on: March 8, 2026
With the spotlight on Yes Bank's insider trading scandal, many of the involved executives are leaning towards settlements with Sebi, while just three are gearing up for a courtroom battle. The regulator's inquiries were sparked by a high-profile investment from private equity titans, Carlyle and Advent.
Published on: March 8, 2026
The central bank said an NOHC would be needed only if the group later sets up additional financial services entities. The RBI had first issued an in-principle approval on Aug 7, 2025 for the transition from a small finance bank to a universal bank .
Published on: March 7, 2026
The Reserve Bank of India is gathering information on foreign exchange deals from banks. This move aims to understand if significant bets are being placed against the Indian rupee. The central bank is looking at client transactions and bank positions. This data will help the RBI manage currency fluctuations and make informed decisions to control volatility in the coming days.
Published on: March 6, 2026
New rules from January 1 will bring crypto-assets, CBDCs, and electronic money under financial account reporting. Service providers and financial institutions must report transactions and holdings. Banks and depositories will track accounts with greater detail. This aims for better tax compliance on digital assets for non-US accounts.
Published on: March 6, 2026
RBI new digital fraud rules: Compensation will be provided if the loss is established as genuine under the bank’s internal policy and the victim reports the incident both to the bank and the National Cyber Crime Helpline (1930) within five days of the fraud.
Published on: March 6, 2026
Global banks seeking a share of India’s nearly $4 trillion economy are facing strict regulations, limited control and long timelines for returns as they try to expand in the country’s financial sector. Foreign investors encounter voting caps, complex approval processes and restrictions on management control, forcing many to adopt unconventional deal structures.
Published on: March 6, 2026
India Inc's overseas fundraising plans are stalled due to the West Asian conflict, causing global yields to rise. Lenders and companies are awaiting geopolitical clarity, as bond and loan rates have increased. This situation makes companies with significant Middle East revenue exposure less appealing to financiers, prompting increased caution.
Published on: March 6, 2026
Gulf sovereign wealth funds might shift investments inward if the Strait of Hormuz remains blocked due to the Iran-Israel conflict. This could reduce global investment flows. India may also see fewer investments. These funds manage significant assets and could support domestic economies during this volatile period. A reopening of shipping lanes could lead to renewed global investment.
Published on: March 5, 2026
Luxembourg seeks to boost European investment in India's infrastructure and green initiatives. The country also wants Indian financial firms to set up bases in Luxembourg to access the wider EU market. Discussions covered digital finance, cross-border payments, and attracting skilled Indian professionals. Luxembourg sees significant potential for collaboration and partnership with India.
Published on: March 5, 2026
