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Banking/Finance-Industry-Economic Times
Aditya Birla Capital is raising Rs 4,000 crore for future growth. The Aditya Birla Group will invest Rs 3,080 crore and IFC will invest Rs 980 crore. This capital infusion will fund growth objectives, including lending and investments. The company aims to expand access to financing for entrepreneurs and businesses. This move supports India's economic transformation and financial inclusion.
Published on: May 20, 2026
Standard Chartered plans to cut over 7,000 jobs in four years, replacing human capital with technology, particularly impacting back-office roles in India. This move aligns with a broader trend of financial firms leveraging AI and tech hubs in India for both support and higher-value functions, though some, like Wells Fargo, are also consolidating operations.
Published on: May 20, 2026
Financial institutions are urged to guide Atal Pension Yojana subscribers towards higher pension slabs. Many subscribers remain in the minimum Rs 1,000 monthly pension category. This amount may not be sufficient in the future. Banks must counsel individuals to choose plans reflecting future needs and current affordability. Efforts are also underway to re-examine the scheme for potentially higher pension payouts.
Published on: May 20, 2026
Central Bank of India is planning a major nationwide expansion with the opening of 150 new branches across India. To support its growth strategy, the public sector lender will recruit around 1,400 employees, including new officers, while also strengthening operations across its subsidiaries. The move is aimed at enhancing customer outreach, improving banking services, and accelerating business growth in key markets.
Published on: May 20, 2026
BHIM Payments App saw a significant 301% surge in transaction volumes during FY26. More users embraced the platform for daily purchases like groceries and dining. West Bengal showed strong growth, with peer-to-merchant payments dominating. The app's accessibility and new features are driving this increased adoption across India.
Published on: May 20, 2026
The Supreme Court on Wednesday pulled up the Finance Ministry over the 2023 write-off of Yes Bank’s Rs 8,415 crore AT-1 bonds and asked Solicitor General Tushar Mehta to produce Cabinet meeting records, quorum details and related documents by 3 PM.
Published on: May 20, 2026
Amid the turbulent times following the West Asia escalations, financial leaders expressed strong confidence in the resilience of the Indian economy and its banking architecture. They dismissed immediate panic over dipping foreign exchange reserves and raging geopolitical tensions.
Published on: May 20, 2026
Indian insurers are opposing new rules for executive pay. The regulator wants to link compensation to customer service, not just profits. Insurers argue a one-size-fits-all approach won't work for all companies. They seek flexibility in setting performance goals. This comes amid increased scrutiny of claims and customer service.
Published on: May 19, 2026
The Reserve Bank of India is proposing new rules for banks. These rules will standardize how banks report their capital strength. This applies to all banks, including foreign ones. The goal is to make it easier for people to understand and compare bank performance. Banks will need to use specific formats and report figures in rupees crore.
Published on: May 19, 2026
Banks have asked the Reserve Bank of India to relax new lending rules for Infrastructure Investment Trusts. The proposed three-year operational track record requirement could delay infrastructure monetisation and new project funding. Lenders prefer asset quality over trust age for financing eligibility. This change aims to ensure smoother fund recycling and attract global investors for new infrastructure projects.
Published on: May 19, 2026
Indian banks are increasingly offering loans against mutual funds. This move targets younger, tech-savvy customers who prefer market-linked investments. Banks are leveraging digital platforms for a seamless process. This product is expected to gain popularity in the coming years as more people invest in mutual funds.
Published on: May 19, 2026
HDFC Bank has implemented a work-from-home policy for up to two days a week for employees in Business and Corporate Enabling Functions for the next 30 days. This decision aligns with Prime Minister Modi's call to conserve fuel amidst rising crude oil prices. Customer-facing operations will remain unaffected.
Published on: May 19, 2026
The Reserve Bank of India has cancelled the license of The Yashwant Co-operative Bank, Phaltan, Maharashtra, citing inadequate capital and poor earning prospects. The bank's operations will cease from May 19, 2026, with depositors to receive insurance claims up to Rs 5 lakh. Approximately 99.02% of depositors are expected to receive their full deposit amounts.
Published on: May 19, 2026
Star Health and Allied Insurance is launching an affordable health insurance product for tier-2 and tier-3 cities, with premiums 20% lower than existing plans. This move aims to increase insurance penetration in smaller towns where affordability is a key barrier. The insurer is also developing a preferred hospital network called Pratham to enhance customer experience.
Published on: May 19, 2026
Prudential plans to acquire a controlling stake in Bharti Life Insurance. This move requires Prudential to reduce its holding in ICICI Prudential Life Insurance. The insurer is expected to request 12 to 18 months from the regulator for this stake dilution. ICICI Bank will maintain majority ownership in ICICI Prudential Life Insurance.
Published on: May 19, 2026
Central Bank of India is set to launch its IFSC Banking Unit at GIFT City next month with an aim to expand its international banking operations. The bank will offer specialised services and access to international financial markets for corporate clients.
Published on: May 19, 2026
The IRDAI is developing a more detailed framework for performance-linked key performance indicators (KPIs) for insurance company executives. This initiative aims to enhance oversight on claims settlement, customer complaints, and expense management, pushing for sharper accountability standards and measurable parameters in senior management evaluations.
Published on: May 19, 2026
"The decline in the level of revolvers has impacted profitability," ICICI Bank group CFO Anindya Banerjee said, adding that the business remained profitable and retained multiple levers-including cost management and rewards optimisation-to sustain returns. "It is a business one would continue to have a very strong focus on."
Published on: May 18, 2026
"Senior executives and board members at HDFC Bank are understood to be in favour of maintaining continuity at the top level until the ongoing legal review is completed and its findings are discussed by the board," a bank official said. "The view within the bank is that initiating the process for appointing a new chairman before the review concludes could be premature and may complicate governance discussions currently underway."
Published on: May 18, 2026
UPI processed most payment transactions in India by volume in late 2025. RTGS handled significant value with low volume. NEFT offered versatility. Digital payments saw explosive growth from 2021 to 2025. UPI's rise led to a sharp decline in debit card usage for everyday retail payments.
Published on: May 18, 2026
State Bank of India Staff Federation protested in Kolkata demanding recruitment and an end to mis-selling insurance. Employees will strike nationwide on May 25 and 26. The federation alleges issues with resolving employee concerns and agreements. Previous protests included badge-wearing and demonstrations. Future actions involve candle marches and the planned strike.
Published on: May 18, 2026
The Reserve Bank of India has placed restrictions on Etawah-based Nagar Sahakari Bank. Customers can withdraw a maximum of Rs 10,000. The bank cannot grant new loans or accept fresh deposits without RBI approval. These measures are in place for six months to protect depositors. The RBI will monitor the bank's financial health and adjust the directions as needed.
Published on: May 18, 2026
Liberty Mutual Insurance has increased its stake in Liberty General Insurance to 74%, strengthening its commitment to India’s fast-growing insurance market. Following an earlier stake hike in September 2025, the company plans to expand distribution networks and deepen its presence across retail and commercial insurance segments, while capitalising on rising insurance penetration opportunities in India.
Published on: May 18, 2026
Jana Small Finance Bank is raising Rs 728 crore by selling equity shares, with Shruti Lohia's firm set to acquire around 4% and TVS Venu Group taking a 9.9% stake on a fully diluted basis. The bank is planning to upgrade to a universal bank, having reapplied for a license after an initial rejection.
Published on: May 18, 2026
Indian authorities are exploring ways to revive the long-delayed sale of a majority stake in IDBI Bank after bids fell short of expectations earlier this year. Officials are considering lowering the reserve price by up to 20% and reducing reliance on the bank’s market price to make the deal more attractive to buyers, according to people familiar with the matter.
Published on: May 18, 2026
India’s finance ministry has directed state-run banks, insurers and financial institutions to cut costs through measures such as limiting travel, holding meetings virtually and shifting to electric vehicles. The order applies to institutions including State Bank of India, Bank of Baroda and Life Insurance Corporation of India.
Published on: May 18, 2026
ICICI Bank will maintain its majority stake in ICICI Prudential Life Insurance following its partner Prudential's acquisition of a controlling stake in Bharti Life. This move necessitates Prudential reducing its holding in ICICI Prudential Life to below 10%. Despite market jitters, ICICI Bank reaffirms its long-term commitment to the life insurer.
Published on: May 18, 2026
HDFC AMC has reported a cyber-security incident. An anonymous source claimed access to its IT systems. The company is assessing the impact. Business continuity is not expected to be affected. This incident highlights rising cyber risks for Indian businesses. Digital fraud cases have significantly increased. Financial institutions face growing vulnerabilities.
Published on: May 18, 2026
Muthoot Fincorp is gearing up for a monumental ₹4,000 crore IPO, seeking to ignite its expansion plans and harness the momentum of its current growth trajectory. With an optimistic eye on the future, the company is poised to navigate market fluctuations and continue its upward path. The funds raised will be pivotal in propelling further innovations and initiatives.
Published on: May 17, 2026
Bharti Enterprises will pare its stake in the company to 25% from 85% while 360 One Asset Management will sell its entire 15% holding and exit the venture, the companies announced on Sunday.
Published on: May 17, 2026
Muthoot FinCorp is preparing for its Initial Public Offering. The company plans to offer at least 10 percent of its stake. Funds raised will fuel business expansion. The gold loan NBFC sees significant growth opportunities in the sector. Muthoot FinCorp is also venturing into MSME lending and digital initiatives.
Published on: May 17, 2026
Prudential plc is set to acquire a 75% stake in Bharti Life Insurance Company Limited from Bharti Life Ventures Pvt Ltd. This strategic partnership aims to expand access to life and health protection solutions across India, leveraging the combined strengths of both organizations. The deal signifies a significant development in India's rapidly transforming life insurance sector.
Published on: May 17, 2026
A Nagpur consumer commission directed SBI to pay Rs 5 lakh to a widow. The payment is for an insurance claim filed six years late. The commission cited the widow's mental shock after her husband's sudden death. It stated the bank failed to inform customers of their rights. The bank's refusal was deemed a deficiency in service.
Published on: May 17, 2026
India is leading global digital finance discussions. Its digital public infrastructure is being studied worldwide. The Unified Payments Interface democratizes finance. The JAM Trinity has facilitated massive financial transfers and governance savings. Schemes like Pradhan Mantri Mudra Yojana support marginalized groups. These initiatives are driven by strong policy and political will. Modern finance must remain linked to the real economy.
Published on: May 16, 2026
The Haryana government has approved a CBI probe into five IAS officers concerning a Rs 590-crore IDFC First Bank fraud. This permission allows the CBI to question the officers. The investigation stems from alleged misappropriation of government funds. Searches have been conducted, and financial records seized. Sixteen individuals have been arrested so far in this significant financial scam.
Published on: May 16, 2026
Mumbai Police have filed a fresh FIR against former Yes Bank co-founder Rana Kapoor and investor Sudhir Valia for an alleged ₹1,000-crore fraud. The case involves the premature transfer of loan recovery rights and undervalued sale of mortgaged assets belonging to Sapphire Land Development Pvt Ltd.
Published on: May 16, 2026
Public sector banks are seeing their liquidity coverage ratios decline. This trend is driven by strong loan demand outpacing retail deposit growth. Banks are using their excess liquidity to fund loans. This situation is expected to improve with new regulatory norms starting in Q1 FY27. The changes will impact how certain business accounts are treated for liquidity calculations.
Published on: May 15, 2026
Larger banks are dominating the home loan market. Mid-sized private banks are struggling as competition squeezes profits. State Bank of India, ICICI Bank, HDFC Bank and Kotak Mahindra Bank are expanding their mortgage books using lower funding costs and wider reach.
Published on: May 15, 2026
Jana Small Finance Bank is poised for a significant capital infusion. TVS Venu Group plans to acquire a 10% stake. Several other investors are also lining up to invest. This marks Jana's first equity raise since going public. The bank's capital adequacy ratio remains strong. TPG Capital may partially reduce its holding.
Published on: May 15, 2026
Dubai's Emirates NBD has secured all necessary approvals for its significant investment in RBL Bank. This landmark deal, valued at approximately $3 billion, will see Emirates NBD acquire a majority controlling stake. The transaction is set to be completed soon. RBL Bank will operate as a foreign bank subsidiary. This marks a major cross-border investment in India's financial sector.
Published on: May 15, 2026
The Reserve Bank of India has fined IIFL Finance Rs 3.1 lakh for not returning surplus amounts from gold auctions to borrowers. Appnit Technologies faces a Rs 5.8 lakh penalty for KYC and PPI rule violations. These actions stem from regulatory compliance deficiencies identified during inspections. The RBI's move highlights its commitment to enforcing financial regulations.
Published on: May 15, 2026
Public sector banks in India saw loan write-offs fall to multi-year lows in fiscal year 2025-26. This positive trend is attributed to fewer new bad loans and better recovery of existing ones. Banks like Bank of Baroda and Punjab National Bank reported their lowest write-offs in years. This signifies a healthier balance sheet for these institutions.
Published on: May 15, 2026
Indian banks are financially stable. Bad loans are under control. Profit margins face pressure from recent interest rate cuts. Banks are focusing on low-cost deposits. The West Asia conflict poses potential future risks. Banks are preparing for new credit loss frameworks. Overall, the banking sector shows resilience.
Published on: May 15, 2026
The Central Bureau of Investigation has conducted searches in Chandigarh and Panchkula concerning a Haryana bank scam. Financial records and digital evidence were seized. Officials from IDFC First Bank and AU Small Finance Bank allegedly colluded with Haryana government public servants to misappropriate funds. Sixteen individuals have been arrested as the investigation is expedited.
Published on: May 15, 2026
The rise in prices will add to the growth momentum as it will give more borrowing power to those who are pledging gold. The uncertainties will not change the course of the gold loan market. And the price fluctuation won't matter since there is enough cushion. While disbursing loans, the loan to value (LTV) ratio is 75% but the ratio comes down when price increases. Over the last two years, the gold price have risen although recently a small correction has happened from the high, says George Alexander Muthoot, managing director, Muthoot Finance.
Published on: May 14, 2026
The Indian government is set to revolutionize the landscape for Regional Rural Banks with the introduction of a central tech hub dedicated to digital service enhancements and fortified cybersecurity.
Published on: May 14, 2026
War-risk insurance is now available for everyday consumers in the UAE. Insurers are offering new policies for cars, cargo, and travel. This expansion is driven by ongoing geopolitical tensions. Businesses are also reassessing their coverage for disruptions. Awareness of war-related risks is increasing among consumers and companies.
Published on: May 14, 2026
The Reserve Bank of India has cancelled registration certificates for several non-banking financial companies and core investment companies. This action follows surrender requests from entities like RR Holdings and Anjali Capfin. HDFC Holdings' certificate was cancelled as it is no longer a legal entity post-merger. Other companies surrendered their certificates due to exiting the NBFI business.
Published on: May 14, 2026
The Reserve Bank of India has cancelled the registration of 150 Non-Banking Financial Companies. The highest number of affected firms are registered in Delhi and West Bengal. These companies can no longer conduct financial business. This action impacts lending, leasing, and investment activities. The RBI has taken this step under the RBI Act, 1934.
Published on: May 14, 2026
Bank of Baroda plans to double its balance sheet over the next five years, betting on strong economic growth in India, rising credit demand and expansion of fee-based income streams. CEO Debadatta Chand said scale and capital strength are essential for Indian banks to compete globally, especially as discussions continue around creating larger state-run lenders.
Published on: May 14, 2026
