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Banking/Finance-Industry-Economic Times
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
Yes Bank has launched a new salary account for working women. The 'YES Essence Women's Salary Account' offers financial protection, healthcare, and lifestyle benefits. Features include a free locker, health cover, and cashback on a debit card. This initiative supports women's financial and lifestyle needs. The bank also recently detected unauthorized transactions on its forex cards.
Published on: March 5, 2026
Paytm stands out among its competitors in revenue generation. According to a BofA report, its varied income streams, such as merchant lending and financial services, are pivotal to its success. This multifaceted approach bolsters profit margins, solidifying Paytm's strategic emphasis on merchants and financial offerings. With this positioning, the company is well-prepared for continual growth in India's burgeoning fintech landscape.
Published on: March 5, 2026
IndusInd Bank's treasury head Siddharth Banerjee will step down in April. This marks another senior leadership change at the bank. Banerjee has led the global markets group since 2020. The bank has seen several top leadership exits recently. This follows a significant quarterly loss reported last year. Recruitment continues as the bank restructures its management.
Published on: March 5, 2026
To bridge the gap, banks turned to short-term borrowings, issuing Rs 1.34 lakh crore worth of certificates of deposit (CDs) - the highest ever for any two-week period - underscoring their continued reliance on market funding to sustain loan growth.
Published on: March 4, 2026
Piramal Finance is one of the interested parties and negotiations with it have progressed a bit, they said, adding that the discussions are at a preliminary stage.
Published on: March 4, 2026
The change comes with rising longevity, limited social security coverage and growing awareness around the need for stable post-retirement income. Pension and annuity segments together consist of 18.87% of the total life insurance industry, as of March 2025. This segment is growing faster than the industry for most insurance companies.
Published on: March 4, 2026
New banking rules starting April 1 will boost liquidity coverage ratios for banks holding more wholesale deposits. Private lenders are set to benefit more as certain wholesale deposits will attract lower run-off factors. This change is expected to improve the overall LCR for banks. Public sector banks may see a smaller advantage from these adjustments.
Published on: March 4, 2026
IRDAI has proposed mandatory adoption of Indian Accounting Standards (Ind AS) for all insurers by April 1, 2026. This move aligns India's insurance sector with global IFRS standards, introducing market-consistent liability valuation and expected credit loss methodology. Insurers have been preparing for this transition since 2022, with most major players already submitting proforma financial statements.
Published on: March 4, 2026
To be raised in rupee-equivalent debt, a part of the capital will be used to provide affordable housing loans to women borrowers while 10 per cent of the proceeds will be deployed to finance the construction of residential units that meet recognised green building certification standards, supporting the adoption of environmentally sustainable construction practices, the company said.
Published on: March 4, 2026
In a significant move towards enhancing economic opportunities in India, DEG, the German development finance institution, has joined forces with Citi to deliver a remarkable USD 76 million co-financing package to Shriram Finance.
Published on: March 4, 2026
Reserve Bank of India is scrutinizing shadow banks. Several non-banking finance companies face questions regarding their policy on lending to borrowers with existing defaults. The central bank insists on a board-approved policy to justify new loans to such customers. This move aims to prevent evergreening and ensure transparency in lending practices.
Published on: March 4, 2026
Banks are asking the government for clear rules on education loans for students at foreign universities in GIFT City. These courses are completed in India, but loans are treated as 'studies abroad'. Lenders want to update the education loan scheme. This includes removing visa requirements for loan approval. The issue was discussed internally and flagged to the government.
Published on: March 3, 2026
Gold loan companies expect a significant increase in demand. Record gold prices, fueled by geopolitical tensions, are driving this trend. MSMEs and individuals are likely to seek quick, collateral-backed loans. This will help manage inventory, operational expenses, and cash flow. Rising gold prices enhance borrowing capacity. Gold loans are a growing retail loan category.
Published on: March 3, 2026
Fino Payments Bank's interim head Ketan Merchant stated the arrest of CEO Rishi Gupta will not affect the bank's transition to a small finance bank. He confirmed no abnormal impact on deposits. The issue involves program managers linked to the real money gaming business. The bank continues proactive engagement with the RBI. Customer balances and business volumes remain stable.
Published on: March 3, 2026
