Recent News
Banking/Finance-Industry-Economic Times
Indian Banks Governance Risk: Indian banks are facing new challenges. Investor focus is shifting from bad loans to governance and leadership. Recent events at HDFC Bank, Yes Bank, IDFC First Bank, Kotak Mahindra Bank, and IndusInd Bank highlight these issues. Oversight lapses and boardroom dynamics are now critical. This marks a significant change in how risks are assessed in the banking sector.
Published on: March 26, 2026
Haryana Police have arrested Dileep Kumar Raghav, a former Kotak Mahindra Bank official. He is accused of sending fake reports about fixed deposits to Panchkula Municipal Corporation. The fraud involves around 150 to 160 crore rupees. Discrepancies emerged during fund reconciliation. The bank is cooperating with investigations and reviewing its processes. Multiple individuals are under scrutiny for potential collusion.
Published on: March 26, 2026
India's retail inflation is projected to reach 4.5 percent in fiscal year 2027. This upward revision by ICICI Bank is driven by increasing energy costs. Higher petrol and diesel prices will now have a greater impact on consumer prices. This change is due to a revised weighting system for goods.
Published on: March 26, 2026
Prudential Plc and HCL Group are close to launching their health insurance joint venture. Regulatory approvals are progressing well. Eased Press Note 3 rules are facilitating the deal. This partnership was delayed for over a year. The venture is structured as a 70:30 partnership. Relaxations in rules are expected to improve foreign investment.
Published on: March 25, 2026
February 2026 witnessed a subtle decline in credit card transactions compared to the previous month, January. Despite this, a year-on-year comparison reveals increased consumer spending. Banks are enthusiastically welcoming new credit card clientele, which hints at a thoughtful growth strategy. The sustained expansion is primarily fueled by advancements in digital services and e-commerce.
Published on: March 25, 2026
The Reserve Bank of India has greenlit the acquisition of a controlling stake in Sammaan Capital Ltd by an affiliate of Abu Dhabi's International Holding Company. Avenir Investment RSC Ltd will infuse Rs 8,850 crore for an initial 41.23% stake, potentially rising to 63.36%. This regulatory approval moves the transaction closer to completion, pending SEBI's final nod.
Published on: March 25, 2026
The revised PLI formula sought to be imposed by the Department of Financial Services (DFS) is viewed by the workforce as an unilateral and divisive departure from the existing settlement-based PLI scheme evolved through bilateral discussions and incorporated in the bipartite settlement/joint note framework, UFBU said in a statement.
Published on: March 25, 2026
Published on: March 25, 2026
Kotak Mahindra Bank is nearing a deal to buy Deutsche Bank's India retail operations. This acquisition, valued at approximately Rs 4,500 crore, will significantly boost Kotak's customer base and urban lending. Deutsche Bank is exiting its retail segment as part of a global strategy. The deal is expected to be announced soon, strengthening Kotak's position in the Indian banking sector.
Published on: March 25, 2026
Kotak Mahindra Bank said it is reconciling fixed deposits and accounts linked to the Municipal Corporation of Panchkula after reports of ₹150 crore missing funds surfaced. The bank said the exercise was initiated at the corporation’s request and a large portion has already been matched. It added that account processes and transactions followed due norms and that it has filed a complaint with local police while cooperating with authorities.
Published on: March 25, 2026
Banks are struggling to attract deposits as policy rate cuts are slowly reflected in deposit rates. Savers are moving funds to other investments. This situation pressures bank profits. State-run banks are better positioned than private ones. Deposit growth has slowed significantly. Banks are competing for funds, keeping costs high.
Published on: March 24, 2026
The Reserve Bank of India is assessing bank exposure to West Asia. This move follows the Iran war's impact on global bonds and energy supply chains. Banks are asked for details on direct and indirect exposures. This includes companies with regional subsidiaries and retail banking through NRIs. The RBI aims to plan potential relief measures if the situation prolongs.
Published on: March 24, 2026
HDFC Bank has engaged domestic and international law firms to investigate the reasons behind former chairman Atanu Chakraborty's sudden departure. The review will scrutinize board meeting records and whistle-blower complaints. This proactive step aims for an objective assessment of the issues raised. The bank is committed to upholding high governance standards.
Published on: March 24, 2026
Kotak Mahindra Bank will merge its wholly owned subsidiary, Kotak Mahindra Investments Limited (KMIL), into its own operations by April 1, 2026. This move aligns with RBI regulations and aims to simplify the group structure and enhance operational synergies. KMIL will cease new loan sanctions from the same date, while continuing to service existing obligations.
Published on: March 24, 2026
JP Morgan has appointed Rahul Badhwar as its senior country officer for India. Badhwar joins from HSBC, where he held global sales roles. He will drive JP Morgan's growth strategy in India. Badhwar will be based in Mumbai and report to Sjoerd Leenart. He replaces Kaustubh Kulkarni. This appointment signals a strategic focus on the Indian market.
Published on: March 24, 2026
Unclaimed funds in public sector banks, insurance companies, and mutual funds have reached significant levels. Banks hold Rs 60,518 crore, insurers Rs 8,973.89 crore, and mutual funds Rs 3,749.34 crore. Meanwhile, Sovereign Green Bonds are attracting investors. The bid-cover ratio for these bonds remains strong, indicating continued investor confidence in climate finance options.
Published on: March 24, 2026
The Reserve Bank of India thwarted over 61 million cyberattack attempts in late 2025. This number shows a rapid increase in threats. The RBI is now using artificial intelligence to detect and block attacks. The central bank also encouraged the payments industry to adopt new regulations. Innovations like standing instructions and card tokenisation have seen significant success.
Published on: March 24, 2026
Digital personal loans are growing rapidly in India. Sanction values increased by 53% in Q3 FY25-26. Digital lenders disbursed 9.9 crore loans worth Rs 1.53 lakh crore in Q1-Q3 FY25-26. Asset quality has improved, with the 90-day past due ratio falling to 1.9%. The sector is reaching more young borrowers and those in smaller cities.
Published on: March 24, 2026
HDFC Bank is reviewing the resignation of its chairman, Atanu Chakraborty. The bank has appointed external law firms to investigate the matter. Chakraborty cited practices not aligned with his values for stepping down. The bank's CEO stated they are examining all possibilities. Shares of HDFC Bank saw a decline following the resignation.
Published on: March 24, 2026
HDFC Bank has appointed external law firms to investigate the resignation of its former part-time chairman, Atanu Chakraborty. Chakraborty stepped down citing differences over values and ethics. The bank is committed to robust corporate governance. The MD & CEO described the situation as challenging. HDFC Bank shares saw a decline following the announcement.
Published on: March 24, 2026
Bank of Baroda, said multiple people ET spoke with, charged a higher interest rate by mistake, leading to the deduction of an amount exceeding the scheduled equated monthly instalment (EMI). Alternatively, the bank charged less interest in some cases than it ought to have, its spokesperson said.
Published on: March 23, 2026
The revised framework, scheduled for implementation on or before April 1, 2026, aims to strengthen regulatory frameworks and promote responsible lending practices.
Published on: March 23, 2026
Svatantra Microfin has successfully merged with Chaitanya India Fin Credit and Svatantra Holding, solidifying its position as India's second-largest NBFC-MFI. This strategic move, approved by the NCLT, creates a combined entity managing approximately Rs 22,000 crore in Assets Under Management.
Published on: March 23, 2026
Capital markets regulator Sebi chairman Tuhin Kanta Pandey has spoken out after a top banker resigned. Pandey stressed that independent directors must act responsibly. He said they should not make insinuations without proper evidence. The resignation had caused concern among investors. Sebi will investigate all aspects of the matter to bring out the facts.
Published on: March 23, 2026
A massive ₹80,000 crore in motor accident compensation claims remains stuck in India's legal system. Over 10.46 lakh cases are pending, with victims facing significant delays and procedural hurdles. Low awareness about compensation schemes is a major barrier. Many eligible claimants never receive the financial aid they are entitled to, highlighting critical inefficiencies.
Published on: March 23, 2026
The government has no current proposals for merging public sector banks, according to Minister of State for Finance Pankaj Chaudhary. He highlighted the success of past amalgamations, citing significant growth in business for merged entities. Additionally, the EASE 9.0 Reforms Agenda aims to build globally competitive PSBs by 2047.
Published on: March 23, 2026
Gold loan companies are asking the Finance Ministry and Reserve Bank of India to delay new lending rules. The guidelines, set for April 1, are requested to be put on hold for six months. This deferment is sought due to global uncertainty and credit access risks.
Published on: March 23, 2026
Ananya Birla's Svatantra Microfin has successfully merged with Chaitanya India Fin Credit, following its acquisition from Navi Group. This integration creates a robust financial institution with approximately Rs 22,000 crore in assets under management. The combined entity boasts a vast network of 2,200 branches and serves around 5 million customers across 20 states.
Published on: March 23, 2026
HDFC Bank is set to convene board meetings with the intention of scrutinizing its previous resolutions. The focus is on fostering transparency, as Managing Director Sashidhar Jagdishan emphasizes that operational challenges will lead to stricter oversight. Any conduct-related issues will be tackled decisively.
Published on: March 23, 2026
Kotak Mahindra Bank is poised to take a major leap by acquiring Deutsche Bank's retail operations in India for around Rs 4,500 crore. This deal promises to strengthen Kotak's retail lending capabilities and broaden its base of deposits. Meanwhile, Deutsche Bank's exit reflects a larger strategy to streamline its operations worldwide.
Published on: March 23, 2026
We will convene multiple board meetings over the next month to get the views of all directors on decisions taken over time. We will re-examine them, evaluate the action points and see where we need to improve. This issue was not of our making; it was thrust upon us. We will take stock of past matters and address all issues-existing or new-without hiding anything, says Sashidhar Jagdishan, MD & CEO, HDFC Bank.
Published on: March 22, 2026
A new credit guarantee scheme aims to boost lending to microfinance firms. However, banks remain cautious. They will prioritize financially strong micro lenders with good credit ratings. Stressed microfinance institutions, especially smaller ones, may still face funding challenges. The guarantee offers partial protection but banks will not compromise their underwriting standards.
Published on: March 22, 2026
Tata Capital has received a tax demand of Rs 413.18 crore for the financial year 2017-18. The demand includes interest and arises from alleged tax credit errors. The company believes the demand is unsustainable due to computation errors. Tata Capital plans to file rectification applications and appeals. It expects a favorable outcome and no material impact on its financials.
Published on: March 22, 2026
The government is considering an Offer-for-Sale (OFS) in IDBI Bank to raise public shareholding after a failed attempt to sell a majority stake. The move aims to improve valuation and price discovery, as the current public float is just 5.29%.
Published on: March 22, 2026
Uday Kotak has increased his stake in Infina Finance through his family trust, acquiring 8.99% for ₹375.35 crore as part of a broader stake sale by Kotak Mahindra Capital Company. In the larger transaction worth ₹1,293.91 crore, KMCC sold a 30.99% stake in Infina Finance.
Published on: March 22, 2026
The NCLAT has granted an exemption to certain IL&FS Group companies from corporate social responsibility spending. This waiver applies to 'red' and 'amber' category entities. The decision stems from interest expenses accrued on their loan amounts. This move benefits approximately 50 companies within the debt-ridden IL&FS Group.
Published on: March 22, 2026
Managing the current crude oil, CNG, and LPG situation in India has become a primary focus as global supply chains face a "hard lockdown" due to escalating conflict in West Asia. India is leveraging its unique diplomatic standing to secure energy supplies despite significant disruptions at the Strait of Hormuz.
Published on: March 22, 2026
Kotak Mahindra Capital Company will sell a 30.99% stake in Infina Finance for over ₹12,939 crore. The transactions, expected to conclude by March 31, 2026, include transferring a 9.90% stake to Derive Trading and Resorts and Bright Star Investments for ₹413.35 crore.
Published on: March 21, 2026
Axis Bank proudly announces its role as the official banking partner for the DP World Professional Golf Tour of India, a move that promises to invigorate the golfing landscape in the country. With support for all tournaments this season, this partnership is a commitment to fostering golf talent and enhancing accessibility for fans.
Published on: March 21, 2026
State Bank of India is contesting a Rs 6338 crore income tax demand for assessment year 2023-24. Meanwhile, IDBI Bank faces a Rs 5.5 crore penalty for FY 2020-21, and ICICI Bank received a Rs 384 crore GST demand from Maharashtra.
Published on: March 20, 2026
HDFC Bank has addressed client onboarding issues at its Dubai branch. Personnel changes were made following an internal review. This action comes after regulatory scrutiny and a ban on new clients at the DIFC branch. The bank is committed to compliance and high standards. These developments follow previous concerns about cross-border operations.
Published on: March 20, 2026
In a statement, the Reserve Bank said a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as of March 31, 2025.
Published on: March 20, 2026
Indian banks are paying record premiums for short-term funds. This is driven by sluggish deposit growth and a heavy reliance on certificates of deposit. Borrowings have reached an all-time high. Experts anticipate this pressure to continue until the end of the year. Banks are seeking measures to ease this funding strain.
Published on: March 20, 2026
State Bank of India faces a significant Rs 6,337 crore income tax demand for the assessment year 2023-24. The bank has received an order from the Income Tax Department. This demand stems from disallowances made during scrutiny assessment. SBI plans to challenge this order by filing an appeal.
Published on: March 20, 2026
HDFC Bank's stock plunged after chairman Atanu Chakraborty resigned citing ethical concerns. Investors expressed disbelief during a call where management offered no clear explanations. Chakraborty, a former bureaucrat, later called his departure 'routine,' but the market reacted sharply, wiping billions in value. Analysts questioned the board's lack of specifics regarding the resignation.
Published on: March 20, 2026
The Reserve Bank of India stepped in to assure markets about HDFC Bank's governance following the unexpected resignation of its part-time chairman, citing "values and ethics." Despite the RBI's statement, the bank's stock experienced a significant intraday fall, contributing to broader market declines. Management stated they had no insight into the chairman's reasons for leaving.
Published on: March 20, 2026
HDFC Bank chairman Atanu Chakraborty has resigned unexpectedly. This move follows reports of disagreements with the bank's leadership. Sources suggest Chakraborty's involvement in daily operations and senior promotions caused friction. The bank's management and the regulator reportedly aligned against the chairman's actions. This development follows the significant merger of HDFC and HDFC Bank.
Published on: March 19, 2026
HDFC Bank aims to bolster investor trust following a significant dip in stock prices. With the resignation of its non-executive chairman over ethical concerns, the interim chairman reassures stakeholders, emphasizing that there are no pressing issues impacting the bank's operations. The institution's strong fundamentals remain intact, and management is proactively engaging with shareholders to rebuild confidence.
Published on: March 19, 2026
ICICI Bank has received a significant Goods and Services Tax demand notice. Tax authorities have levied a demand of Rs 768.6 crore. This is for alleged short payment of GST on services provided to customers. The bank is already in litigation over similar past issues. ICICI Bank will contest the order through legal channels within the stipulated timeframes.
Published on: March 19, 2026
Following the abrupt resignation of HDFC Bank's part-time chairman, Atanu Chakraborty, the Reserve Bank of India has assured markets of robust governance at the bank. Investors reacted sharply, leading to a dip in stock prices. Despite management expressing uncertainty regarding the circumstances surrounding his departure, they are already commencing the search for a new permanent chairman to ensure continuity.
Published on: March 19, 2026
