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ICICI Prudential AMC's board approved acquiring ICICI Securities' PMS business. This acquisition will broaden the company's existing portfolio management offerings. The PMS business caters to high net worth individuals with customized investment solutions. Assets under management stood at ₹2,910 crore as of March 31, 2026. The transaction is expected to be completed within a year after approvals.
Published on: August 10, 2026
Banks have disbursed merely seventeen percent of the credit guarantee scheme funds. Loan sanctions remain slow as banks show caution with smaller microfinance institutions. Larger microfinance companies are hesitant to borrow under the government's guarantee program. About one thousand crore rupees went to small and medium-sized microfinance entities.
Published on: August 10, 2026
Indian banks have sought RBI approval to spread mark-to-market losses on investment portfolios across the remaining three quarters, citing bond-market volatility triggered by the West Asia crisis. Rising government bond yields have weighed sharply on banks’ treasury income.
Published on: August 10, 2026
Finance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. Any future MDR would apply only to limited merchant transactions above a prescribed threshold, with its scope to be decided later.
Published on: August 10, 2026
India’s payments network is shifting towards software-based channels, with UPI QR codes and online card transactions growing while ATMs and other hardware-based infrastructure stagnate or decline. UPI QR codes rose 16.9% year-on-year to 792.6 million in June.
Published on: August 10, 2026
NBFCs outpaced banks in retail lending growth in June, with loans rising over 20% year-on-year compared with 16% for banks. Growth was driven by jewellery and consumer durable loans as banks remained cautious in unsecured and low-ticket lending segments.
Published on: August 10, 2026
HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points. HDFC's new rates became effective from August seventh for various tenors. Bank of Baroda's revised rate will take effect from August twelfth. The banks are adjusting their marginal cost of funds based lending rates.
Published on: August 10, 2026
Parliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for consumers. The legislation removes the linkage between payment systems and income tax. It also provides legal backing to modify zero-MDR frameworks for digital transactions. The bill aims to attract foreign capital and promote domestic manufacturing.
Published on: August 10, 2026
To secure legal protection under the EB-5 program, potential investors need to submit their applications by September 30, 2026. This crucial deadline allows for grandfathering under existing laws. Post this date, there will be a significant increase in the minimum investment requirement, effective January 1, 2027. It's essential for families and business owners to weigh these important changes now.
Published on: August 10, 2026
NPCI plans to expand UPI internationally by targeting countries with large Indian diaspora populations, with CEO Dilip Asbe saying it could enter 15-20 markets over the next decade. NPCI is in talks with Japan, Malaysia and Bahrain, while exploring AI-enabled payments and building on UPI’s presence in nine countries.
Published on: August 10, 2026
Government will meet state-owned lenders to attract foreign investment. This aims to stabilize the rupee and bridge the current-account gap. The meeting will also focus on deposit mobilization and supporting small businesses. Fresh foreign capital inflows will boost reserves and domestic manufacturing. Durable foreign direct investment is preferred over short-term deposits.
Published on: August 9, 2026
Asset reconstruction companies bought twenty-six thousand three hundred four crore rupees of bad loans. This acquisition saw a fifty-six percent increase from the previous year's figures. The overall non-performing asset ratio in the banking system continued its downward trend. Banks have been resolving legacy stressed assets for several years now. Transactions are increasingly being settled in cash and through security receipts.
Published on: August 9, 2026
Several offshore banks are becoming reluctant to issue or renew international credit cards for wealthy resident Indians due to India’s 180-day rule on deploying overseas funds. The requirement is also creating difficulties for minors holding foreign accounts under the Liberalised Remittance Scheme.
Published on: August 9, 2026
Large microfinance companies including Muthoot Microfin and Satin Creditcare have raised their growth forecasts as private banks, small finance banks and smaller MFIs scale back lending. Improving asset quality is also supporting expansion by larger, well-capitalised microfinance lenders.
Published on: August 9, 2026
Punjab National Bank plans to launch wealth management services by December. The bank is also aggressively scaling its credit card business operations. This expansion aims to significantly enhance the bank's non-interest income streams. PNB anticipates its profit will surpass twenty thousand crore rupees this financial year.
Published on: August 9, 2026
Housing and Urban Development Corporation Ltd expects its loan book to exceed two lakh crore rupees. The company plans to borrow seventy-five thousand crore rupees from domestic and overseas markets. HUDCO has already raised twenty thousand crore rupees in the first quarter of this fiscal.
Published on: August 9, 2026
The finance ministry said any future MDR on UPI will be nominal and limited to merchant transactions above a specified threshold, while consumers and most merchants will face no charges. The move aims to support UPI’s long-term sustainability, security and infrastructure.
Published on: August 9, 2026
PhonePe cofounder and chief executive, Sameer Nigam, and Razorpay cofounder and chief executive, Harshil Mathur, have argued in favour of a sustainable business model that echoes the position of the Payments Council of India (PCI). The industry association has sought to separate free everyday payments from charges on select merchant transactions to ensure commercial viability of the service.
Published on: August 8, 2026
Under the draft directions, a branch of a G-SIB operating in India will be required to maintain a minimum leverage ratio of 3.5 per cent, along with the leverage ratio buffer applicable to the parent global bank, including any additional buffer prescribed by its home regulator.
Published on: August 8, 2026
Non-banking financial companies saw gold-backed lending grow nearly seventy percent year-on-year. This strong expansion continued into June 2026, outpacing overall retail loan growth. Housing and vehicle loans also displayed robust credit growth during this period. The Reserve Bank of India strengthened regulations for gold and silver collateral loans. Credit to industry and services sectors experienced a moderation in growth.
Published on: August 8, 2026
Union Minister Amit Shah encouraged urban cooperative banks to view the RBI's support positively. He highlighted the central bank's proactive assistance to the sector recently. Shah also emphasized the safety of small borrowers for lenders. The National Urban Cooperative Finance and Development Corporation will relocate its head office. This move aims to strengthen the cooperative banking sector across key states.
Published on: August 8, 2026
State Bank of India chairman admits missing digital payments bus, while YONO app attempts to catch up. Banks and fintech firms argue UPI merchant payments may soon incur charges. UPI processes billions of transactions monthly, with rising infrastructure and cybersecurity costs. SBI reported a 13.73% rise in consolidated net profit for the June quarter.
Published on: August 8, 2026
LIC said the government’s ₹31,552-crore offer for sale reflects investor confidence and helped achieve 10% public shareholding. The insurer will focus on growth, margins and distribution, while the government must raise public shareholding to 25% by 2032.
Published on: August 8, 2026
The Pension Fund Regulatory and Development Authority has approved four new pension funds. This expansion aims to increase non-government NPS subscribers significantly over five years. Digital initiatives are expected to attract millions of new subscribers annually. PFRDA emphasises accessibility and simplified onboarding for broader pension coverage. Conservative schemes have delivered strong annual returns, building on past successes.
Published on: August 7, 2026
Non-banking finance company credit grew 14.4 percent year-on-year in June. Retail loans saw the fastest expansion, increasing by 20.3 percent. Housing and vehicle loans, and gold jewellery loans showed robust growth. Credit to industry expanded by 6.7 percent, while services sector credit grew 17.6 percent. Agriculture and allied activities credit increased significantly by 17.9 percent.
Published on: August 7, 2026
Pension funds collect and invest money contributed by employees and employers to build a large financial pool with an endeavour to pay regular income streams to workers after they retire.
Published on: August 7, 2026
The Reserve Bank of India has proposed new leverage ratio requirements for banks. Globally systemic important banks will face a minimum 3.5% ratio plus a buffer. Domestic systemically important banks will continue with their 4% ratio mandate. Other commercial banks will maintain the existing 3.5% leverage ratio. These proposals align with the Basel Committee on Banking Supervision's framework.
Published on: August 7, 2026
The Reserve Bank of India has announced an exemption for loans against specific foreign currency deposits, particularly fresh FCNR(B) and NRE term deposits. This strategic shift ensures these loans will not factor into the mandatory priority sector lending requirements. Such measures have notably enhanced foreign exchange inflows. Additionally, there is a special facility available for banks to swap these deposits with the RBI.
Published on: August 7, 2026
Non-Banking Financial Company gold loans surged significantly by June 2026. Retail credit remained the primary driver for NBFC lending growth. Housing and vehicle loans also showed robust expansion during this period. Agriculture credit accelerated sharply, while industrial sector growth slowed down. Services sector lending moderated as trade and transport operators expanded credit slower.
Published on: August 7, 2026
State Bank of India reported a strong first quarter with net profit rising over ten percent. Gross advances surpassed fifty lakh crore rupees, marking significant growth for the bank. Asset quality indicators showed marked improvement year-on-year, with GNPA declining. The bank maintained its full-year credit growth guidance at fourteen to fifteen percent. SBI is deploying Responsible AI Policy to enhance cybersecurity and operational efficiency.
Published on: August 7, 2026
The Kochi-based microfinance company received sanction letters from overseas investors in January and it has time till September to draw down the funds.
Published on: August 7, 2026
India currently lacks a well-defined legal framework for virtual digital assets, even though these assets are recognized for tax purposes. In contrast, regions like the EU and US have established robust regulations. The establishment of a self-regulatory organization could provide essential industry standards, offering a bridge during the development of comprehensive legislation. This approach would create a supportive and innovation-friendly policy environment for India's digital asset sector.
Published on: August 7, 2026
State Bank of India expects credit growth to remain broad-based across segments. The bank retained its loan growth guidance at fourteen to fifteen percent. It also anticipates mobilising around ten billion dollars in foreign-currency deposits. Net interest margin guidance remains at three percent for the financial year. Asset quality is not currently a concern due to El Nino conditions.
Published on: August 7, 2026
The Reserve Bank of India's (RBI) draft directions proposing restrictions on revolving credit facilities offered by non-banking financial companies (NBFCs) could affect flexi and overdraft loan products across corporate, MSME and unsecured personal loan segments, according to a Morgan Stanley report.
Published on: August 7, 2026
Tata Sons is now an upper-layer NBFC, requiring its stock market listing. The Reserve Bank of India is reviewing its deregistration application. This classification mandates stricter regulations for at least five years. Tata Trusts wants Tata Sons to remain privately held. The Shapoorji-Pallonji Group seeks to unlock value through a listing.
Published on: August 7, 2026
CreditAccess India, the promoter of India’s largest pure-play microfinance lender CreditAccess Grameen, has sold a 2.28% stake through block deals to provide a partial exit opportunity to long-term investors. The stake sale is part of a broader plan to increase the company’s free float, bring in new investors and broaden institutional ownership, while the promoter continues to back CreditAccess Grameen’s long-term growth plans.
Published on: August 6, 2026
Banks cannot disable borrower mobile phones and laptops for loan recovery. This new rule applies unless the devices themselves were financed by lenders. The Reserve Bank of India announced these regulations will take effect January 1, 2027. Banks must adopt a gradual approach when disabling devices, not immediately. Essential functions like incoming calls and emergency services remain accessible to borrowers.
Published on: August 6, 2026
In a recent announcement, the Reserve Bank of India has introduced fresh regulations for non-banking financial companies. Moving forward, NBFCs will be restricted to providing only term loans, effectively barring revolving credit offerings, though those currently authorized to issue credit cards are not affected. Standalone NBFCs will require prior permissions and significant funding to independently offer credit cards. The central bank is actively seeking input on these upcoming policies.
Published on: August 6, 2026
The government will likely not sell more LIC shares for eighteen to twenty-four months. LIC has until 2032 to meet minimum public shareholding norms. The company recently saw a 6.5 percent stake sale well received by markets. LIC achieved ten percent public float ahead of its May 2027 deadline. The insurer reported a twenty-three percent profit increase and premium income growth.
Published on: August 6, 2026
PNB Housing Finance anticipates its new micro-housing loan business will reach Rs 100 crore AUM. The company expects disbursements to accelerate now that policies and training are finalised. Leverage is projected to increase to nearly six within three years for organic growth. Funding costs remain stable, with potential for slight softening in market conditions. Construction finance lending has restarted conservatively, focusing on select cities and developers.
Published on: August 6, 2026
SBI Life and J&K Bank have partnered to offer comprehensive life insurance solutions. Over one thousand J&K Bank branches will now provide SBI Life's diverse insurance plans. This alliance aims to enhance financial security and expand coverage across India. The collaboration strengthens customer-centric approaches and delivers greater value to clients. It aligns with the goal of achieving insurance for all by 2047.
Published on: August 6, 2026
The Reserve Bank of India has classified Tata Sons as an Upper Layer NBFC. This classification follows revised norms for financial companies with significant assets. Tata Sons now faces enhanced regulatory and supervisory scrutiny from the central bank. The company must also comply with listing requirements within three years. This move impacts systemically important non-banking financial companies across India.
Published on: August 6, 2026
Standard Chartered secured in-principle approval to offer wealth management products in GIFT City. The International Financial Services Centres Authority granted this crucial regulatory approval. The bank plans to launch its retail wealth management offerings within the next few months. This move supports GIFT City's goal of becoming a leading international financial services hub. Standard Chartered is the first foreign bank to operate in GIFT City since 2020.
Published on: August 6, 2026
India's insurance sector anticipates significant long-term expansion driven by reforms and low penetration. Favorable regulations are attracting foreign investment and accelerating mergers and acquisitions. Both life and non-life segments show strong growth potential for insurers. However, macroeconomic challenges and inflation could dampen domestic demand.
Published on: August 6, 2026
India anticipates a balance of payments surplus in FY27. Stronger capital inflows and higher foreign direct investment will support this positive external position. Headline inflation for fiscal year twenty twenty-seven has been revised lower to five percent. Domestic activity improvements and easing supply pressures also boost GDP growth projections.
Published on: August 6, 2026
LIC OFS: The Indian government raised $3.3 billion by selling additional LIC shares in the country's biggest secondary stock offering after executing a tightly guarded stake sale. Officials kept the launch secret, accelerated the timeline, and expanded the offer following strong institutional demand. The sale lifts LIC's public shareholding to 10%, meeting SEBI's listing requirement well ahead of the 2027 deadline.
Published on: August 6, 2026
Central bank governor Sanjay Malhotra stated it is premature to discuss UPI transaction charges. Discussions are ongoing regarding the payment mechanism's future and costs. The government is reportedly amending laws to allow merchant discount rates on select UPI transactions. This move follows Finance Minister Nirmala Sitharaman's introduction of a new bill. The central bank's current focus remains on strengthening UPI adoption across India.
Published on: August 5, 2026
The Reserve Bank of India will absorb surplus liquidity from a special forex swap facility. This absorption will occur through higher currency in circulation and maturing forward positions. Banking system liquidity is expected to peak in September due to FCNR(B) deposit inflows. Economists anticipate a surplus of around ₹4-5 lakh crore in the banking system. The central bank will then begin withdrawing excess liquidity through durable absorption measures.
Published on: August 5, 2026
The Reserve Bank of India will not close the swap window early. Robust foreign currency inflows have strengthened India's balance of payments position. The central bank has not received any proposals for extending the deadline. This facility allows banks to swap overseas borrowings at concessional rates. The swap window has already attracted significant dollar inflows by July.
Published on: August 5, 2026
Financial regulators are exploring adding insurance surety bond exposures to a central credit database. This move aims to provide banks and rating agencies a clearer view of corporate leverage. Currently, these contingent liabilities often escape regulatory reporting requirements. Many government departments now accept these bonds instead of traditional bank guarantees. Expanding the database will strengthen credit appraisal processes for lenders.
Published on: August 5, 2026
