Recent News
Banking/Finance-Industry-Economic Times
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
Bandhan Bank has secured prior approval from the Reserve Bank of India for Debasish Panda's appointment as its part-time chairman. Panda's tenure will span three years, commencing from the date he assumes charge. This strategic move follows Panda's extensive experience in the financial sector, including his previous role as chairman of IRDAI.
Published on: April 22, 2026
Jio Financial Services and Allianz Group are partnering to launch a new insurance venture in India. This 50:50 joint venture will offer general and health insurance solutions. It combines Jio's digital reach with Allianz's global insurance expertise. The venture aims to expand insurance access for individuals and businesses. Operations will commence after regulatory approvals.
Published on: April 22, 2026
With this membership, Pay Point India now has direct access to key payment systems—Real Time Gross Settlement and National Electronic Funds Transfer—without relying on partner banks.
Published on: April 22, 2026
India's central bank is actively engaging with global counterparts and local institutions to assess potential cybersecurity threats from Anthropic's new AI model, Mythos. The Reserve Bank of India is exploring safeguards and may seek direct access to the AI to identify vulnerabilities, emphasizing data localization for Indian customer information.
Published on: April 22, 2026
Cybercrime is undermining the traditional trust associated with bank brands, forcing a reevaluation of communication strategies. Current anti-cybercrime campaigns often blame victims, failing to address systemic weaknesses and eroding customer confidence. Banks must invest in real-time fraud prevention and demonstrate genuine intent to protect customers, rebuilding credibility through consistent action rather than just advertising.
Published on: April 22, 2026
HDFC Bank posted a strong FY26 performance despite recent governance-related headlines and leadership changes, with CreditSights noting that these developments are unlikely to have any meaningful impact on its credit profile or stability. The bank reported a 10.9% rise in net profit to Rs 74,700 crore, supported by 12.1% loan growth, robust deposit mobilisation, and continued best-in-class asset quality, with gross NPAs falling to 1.15% and credit costs at multi-quarter lows. Capital buffers remained strong with a CET1 ratio of 17.3%, underscoring resilience even as external macro risks persist.
Published on: April 22, 2026
India’s life insurance industry recorded a 16% rise in new business premiums to ₹4.59 lakh crore in FY26, driven by GST exemption benefits, stronger demand for regular premium policies, and a strategic shift towards higher-margin protection and long-term savings products.
Published on: April 21, 2026
HDFC Life's board has approved Vibha Padalkar's reappointment as Managing Director and Chief Executive Officer. This new term will begin on September 12, 2026, and will last for five years. Shareholder and regulatory approvals are still pending. This decision ensures leadership continuity for the company. Padalkar has not faced any debarment from regulatory authorities.
Published on: April 21, 2026
The State Bank of India is asking the Supreme Court to reconsider a recent ruling. The judgment prevents telecom spectrum from being treated as an asset during insolvency. SBI warns this could significantly impact banks and infrastructure financing. The bank argues the ruling overlooks key issues for lenders. This decision affects recovery prospects in various regulated sectors.
Published on: April 21, 2026
Nippon India Mutual Fund has launched 'Har Ghar Investor,' an awareness campaign to boost retail investor participation and promote disciplined investing. The initiative aims to encourage at least one household member to invest in mutual funds, addressing a significant gap in the market.
Published on: April 21, 2026
DBS Bank India has launched DBS Aspire, a new banking proposition targeting the emerging affluent segment with a total relationship value of ₹10 lakh or a ₹2 lakh average savings balance. The offering provides premium banking access, including a dedicated relationship manager and zero forex mark-up on international spends, aiming to be a long-term partner as customers grow their wealth.
Published on: April 21, 2026
PNB Housing Finance has guided for 18–20% loan growth this fiscal, up from 15% in FY26, and expects no impact on housing demand from the West Asia crisis. The lender targets a ₹1 lakh crore loan book by FY27, led by affordable and emerging segments, while margins are seen at 3.55–3.65%.
Published on: April 21, 2026
The Serious Fraud Investigation Office is investigating IndusInd Bank's derivatives portfolio. Major audit firms associated with the bank over the last decade have been summoned. This probe follows questioning of former bank officials. The irregularities are estimated to have caused losses of around ₹2,000 crore. The investigation aims to uncover corporate governance issues and accounting discrepancies.
Published on: April 20, 2026
Health insurance coverage in India has seen a major jump. Rural areas now have more people insured than urban centers. Government schemes are driving this growth. Out-of-pocket hospital expenses have also been reported. Morbidity levels have risen, with infections being the main reason for hospitalisation. Institutional deliveries are now almost universal across the country.
Published on: April 20, 2026
The Reserve Bank of India has made a pivotal move by retracting its earlier April 1 directive, which had restricted banks from offering non-deliverable forward contracts and barred the rebooking of cancelled foreign exchange derivative contracts. This reversal allows banks to enjoy increased operational flexibility, fostering a more fluid trading environment.
Published on: April 20, 2026
Indian consumer sector investment declined in FY26. Investors are now favoring smaller, diversified deals over large bets. Deal volume, however, increased significantly. This indicates a market shift towards sustainable growth and operational discipline. Mega deals are absent, but early-stage funding shows resilience. Companies focus on filling gaps rather than just scaling up.
Published on: April 19, 2026
Bank credit growth is set to outpace deposit expansion in fiscal 2027. Analysts predict credit will grow 12-14% while deposits rise 10-12%. This trend follows a pattern where credit has consistently grown faster than deposits for over a decade. Revised liquidity norms may help manage this gap. Declining CASA ratios are a concern, impacting bank profitability.
Published on: April 19, 2026
The Indian government is taking action against non-profits holding unused foreign funds. Registrations are being cancelled for organizations that have not utilized foreign donations received years ago. A new bill aims to further tighten controls, potentially freezing funds and restricting asset management for these entities. This signals a shift towards greater accountability in the non-profit sector.
Published on: April 19, 2026
