Hotline 24/7
+91 70424 11677
Navneet Singal Dec 04 ,2024
Published In : EvoBreyta
Navneet Singal Oct 30 ,2024
Published In : EvoBreyta
Navneet Singal Oct 27 ,2024
Published In : EvoBreyta
Navneet Singal Oct 26 ,2024
Published In : EvoBreyta
Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructure in India.
Published on: October 15, 2026
South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.
Published on: October 15, 2026
India's balance of payments showed a surplus of $45.4 billion in August, despite a current account deficit. Net transfers, which include remittances, increased to $12.8 billion compared to the previous year. The capital account saw inflows of $50.6 billion, significantly higher than last year's $0.5 billion. Central bank measures to attract capital inflows have resulted in substantial foreign-exchange deposits.
Published on: October 15, 2026
IRDAI is working on a Public Insurance Registry to enhance insurance data sharing among stakeholders. The beta version is scheduled for January 2028, as announced by Chairman Ajay Seth. This digital platform aims to standardise and facilitate the exchange of insurance information. Feedback from industry participants is requested to improve the proposed system, with an extended deadline of October 17, 2026.
Published on: October 15, 2026
YES Bank is currently reviewing the Supreme Court decision that overturned its AT1 bond write-off. This ruling follows the Bombay High Court's earlier decision issued in January. The bank has stated that it will make necessary disclosures in light of the judgment. YES Bank shares experienced a significant drop of 14.43% following this news. The bank maintains it has complied with all regulatory disclosure requirements during the legal proceedings.
Published on: October 15, 2026
Only about 15 per cent of India's population and businesses are estimated to have effective insurance coverage, a figure that could double to 30 per cent over the next five years, Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth said on Thursday, highlighting the large protection gap in the country.
Published on: October 15, 2026
India's insurance regulator, the IRDAI, plans to implement reforms for insurance sales to improve the market. Proposed changes include capping commissions and tightening expense limits to reduce costs and mis-selling. Ajay Seth stated the intention is to avoid disruption within the industry during this transition period. Insurers and distributors have expressed concerns regarding the potential impacts on business models and job security.
Published on: October 15, 2026
India's banking system deposits hit a record high, reaching approximately 284 trillion rupees by September 2023. The increase was primarily driven by a discounted swap window introduced by the Reserve Bank of India. This scheme attracted around $133 billion in foreign-currency deposits from June until its closure in August. Additionally, banks took measures to bolster their funding buffers leading up to the quarter's end. Overall, deposits rose by 8.
Published on: October 15, 2026
Fairfax Financial Holdings plans to bring its interests in Go Digit and IIFL Capital Services under IDBI Bank, creating a financial-services group spanning banking, insurance, investment banking and wealth management. The proposed restructuring follows Fairfax's selection as strategic buyer for a 60.72% stake in the Indian lender for about Rs 52,878 crore.
Published on: October 15, 2026
In recent months, foreign investment in India’s financial sector has grown significantly, resulting in major acquisitions. Fairfax Financial Holdings secured a large stake in IDBI Bank, while Mitsubishi UFJ Financial Group poured resources into Shriram Finance. Additionally, Emirates NBD established a notable presence in RBL Bank. Such initiatives promise to alter the competitive dynamics and improve service capabilities in the Indian banking sector.
Published on: October 15, 2026
Fairfax Financial Holdings plans to bring its Indian financial investments under IDBI Bank after India's approval of a Rs 52,878 crore ($5.56 billion) deal for a 60.7% stake in the lender. The proposed restructuring would bring together banking, insurance, investment banking and wealth management, subject to regulatory approvals.
Published on: October 15, 2026
The Supreme Court has confirmed the Bombay High Court's verdict that invalidated YES Bank's write-off of AT1 bonds totaling Rs 8,415 crore, part of a March 2020 restructuring plan. Investors, both institutional and retail, took their grievances to the High Court, leading to YES Bank, the RBI, and the Centre appealing this outcome. This ruling now grants bondholders a pathway to recover their investments that were previously at risk.
Published on: October 15, 2026
Prem Watsa’s Fairfax Financial will acquire a 60.72% stake in IDBI Bank for Rs 52,878 crore, marking India’s largest cross-border banking deal. The Canadian investor plans to build a financial services powerhouse by combining banking with insurance, wealth management and capital markets. But regulatory approvals, overlapping ownership with CSB Bank and execution risks could test his biggest India bet.
Published on: October 15, 2026
ICICI Life Insurance plans to recruit 20,000 women advisors across India by the end of FY2027 under its Narishakti initiative. Women currently account for around 32% of its advisor base but contribute 45% of agency business. More than 78,000 women advisors were associated with the insurer as of September 30, 2026.
Published on: October 15, 2026
Canara Bank has a corporate loan pipeline totaling Rs 47,000 crore amid rising demand from Indian companies. The bank expects credit growth to remain above 19% year-on-year for the upcoming quarter. It reported significant growth in deposits and loans due to a strategy focused on non-resident Indian customers. Management anticipates maintaining a return on assets above 1% despite future provisioning requirements.
Published on: October 15, 2026
Sonali Sharma has been appointed as managing director and head of legal at Barclays India. She previously served as head of legal and general counsel at Bank of America. Her career began as a trainee at Mulla & Mulla before moving to Juris Corp. Sharma has extensive experience in capital markets and risk management. Several banks are bolstering their legal teams in response to regulatory changes.
Published on: October 15, 2026
The sale of a controlling stake in IDBI Bank for around $6 billion is being viewed a pivotal moment in India's banking reform journey. The transaction received attention from a variety of global investors, highlighting their confidence in the nation's financial ecosystem. Experts predict this move may open doors to increased deal-making opportunities in the future.
Published on: October 15, 2026
Fairfax Financial Holdings will acquire a majority stake of 60.72% in IDBI Bank for ₹52,878 crore. This acquisition marks a significant moment in the government's divestment efforts, as it represents strategic restructuring. The deal aims to strengthen the banking ecosystem and support the government's disinvestment target for the fiscal year. IDBI Bank's financial position has improved significantly, with reduced non-performing assets.
Published on: October 15, 2026
Around 20 financial institutions were affected by cyberattacks earlier this month, with hackers allegedly exploiting stolen partner-bank credentials and vulnerabilities in payment APIs to siphon off funds. Following the attacks, CERT-In issued an advisory urging banks, NBFCs and fintech firms to suspend compromised interfaces, strengthen transaction safeguards and tighten customer verification.
Published on: October 14, 2026
In Maharashtra, insurers' liability could be capped at Rs 1,540 crore before the state government takes over claims beyond that level. The state has declared drought-like conditions in 265 talukas, raising concerns over this year's losses.
Published on: October 14, 2026
Analysts believe this acquisition holds considerable potential, greatly enhancing Fairfax's branch network and deposit portfolio in India, paving the way for a diversified financial ecosystem.
Published on: October 14, 2026
A merger of the two lenders is emerging as the most likely option, potentially allowing the Canadian investor to consolidate its banking interests under a single licence, sources said.
Published on: October 14, 2026
Published on: October 14, 2026
Stocks Sena, a venture co-founded by Krishna Singhal and Pushan Jain, has unveiled an innovative research platform aimed at empowering Indian investors. This website equips users with financial data and stock screening capabilities, granting access to primary-source company disclosures without any subscription fees. Notably, AI tools are designed to simplify complex earnings calls, enhancing comprehension of key financial insights.
Published on: October 14, 2026
The government will retain a 15% equity stake in IDBI Bank and Life Insurance Corporation will hold 19%. Both the government and LIC will withdraw their nominees from the bank's board and become public shareholders. The Cabinet Committee on Economic Affairs has empowered the Alternative Mechanism for minority stake sales of the government's holdings. LIC will manage its residual shareholding as per internal procedures and regulatory compliance.
Published on: October 14, 2026
July 2023 heralded an important change for India as it moved from SGX Nifty to GIFT Nifty, a development with major implications for the financial sector. GIFT Nifty aligns with Indian regulations and provides attractive tax incentives for foreign investors. This initiative is intended to strengthen India's financial infrastructure and position it more firmly within the ranks of international financial hubs.
Published on: October 14, 2026
The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it India’s largest financial-sector FDI.
Published on: October 14, 2026
Astranova Mobility's lending subsidiary, Novafusion Capital, receives approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Institution (NBFC). The firm targets ₹5000 crore in assets under management (AUM) over the next five years, focusing on India's transition to electric mobility. The company highlights the country's requirement of $100 billion to transition its commercial vehicles to electric mobility.
Published on: October 14, 2026
In a notable development, One 97 Communications Ltd., Paytm's parent company, observed a significant rise in domestic share ownership as of Q2 FY 2027. Indian investors now hold over 56% of the firm, which illustrates a positive trend towards local equity involvement. Furthermore, domestic institutional ownership has soared to 29.5%, reflecting heightened engagement from local institutional players. In contrast, foreign direct investment declined to 18.
Published on: October 14, 2026
GIFT Nifty plays a pivotal role as a futures contract that encapsulates overnight global market shifts. It is essential for estimating the daily opening position of the Nifty 50. Investors analyze the discrepancy between the current GIFT Nifty and its previous close to decipher market trends. Though it offers a directional hint, it is not a guarantee of market behavior.
Published on: October 14, 2026
Nexedge Capital has appointed Apurva Sahijwani, previously with Avendus Wealth Management, as co-founder to strengthen its leadership. It aims to utilise his experience for expanding its presence in India's wealth management sector. Nexedge Capital currently operates in 11 cities and advises more than 1,300 ultra-high-net-worth individuals and families.
Published on: October 14, 2026
Bank of Baroda is contending with a $15 billion lawsuit filed by B.R. Shetty following NMC Health's collapse. Shetty alleges that bank officials facilitated fraudulent transactions and ignored anti-money laundering warnings. The bank is currently pursuing recovery proceedings against Shetty for significant outstanding dues. Bank of Baroda has stated that it has not been served with the lawsuit yet.
Published on: October 14, 2026
The Department of Expenditure has urged states to expedite their use of interest-free loans for capital investment. With only a quarter of funds allocated utilized, swift action is necessary to meet spending targets. The central government released around ₹51,000 crore under the Scheme for Special Assistance to States for Capital Investment by October 1. The department is actively working with states to resolve delays and identify projects.
Published on: October 13, 2026
Jyotiraditya M. Scindia discussed significant banking developments at the North East Bankers’ Conclave 2.0 in Agartala. He outlined future targets including opening new bank branches and increasing ATM installations in unbanked areas. Collaborative efforts between banks and government were emphasized to enhance development in the Northeast region. The Chief Minister of Mizoram, Lalduhoma, highlighted the importance of banks in creating economic opportunities for citizens.
Published on: October 13, 2026
Nagaraju Maddirala, previously a financial services secretary, has been appointed Chairman and Managing Director of IL&FS. His appointment was confirmed by the Ministry of Corporate Affairs on October 12 following Nand Kishore's tenure. Maddirala will receive a monthly remuneration of Rs 5.5 lakh along with a company car. IL&FS is currently under a government-appointed board due to previous financial issues.
Published on: October 13, 2026
OnMeta has signed a memorandum of understanding with QazPost to explore digital financial solutions. This collaboration aims to integrate OnMeta's digital infrastructure with QazPost's extensive distribution network.
Published on: October 13, 2026
RBL Bank reported a significant increase in net profit for the September quarter of 2026. The bank achieved a 37% growth in net interest income, achieving Rs 2,131 crore. Net advances grew by 42%, while deposits rose by 34%, supported by FCNR(B) inflows. However, margins are expected to moderate as these deposits fully impact the balance sheet.
Published on: October 13, 2026
Early investors GIC & IFC jointly hold 30% in Bandhan Financial Services (BFSL), keen to exit. PE funds tapped too to gauge strategic interest. BFSL, led by Bandhan founder Chandra Shekhar Ghosh, has been working with advisers Jefferies to find strategic investors for 25-32%.
Published on: October 13, 2026
IRDAI Chairman Ajay Seth said the regulator is examining industry feedback on a consultation paper that is open until October 25, while maintaining that distribution costs must be aligned with the value delivered to the policyholder, and selling incentives must reward persistency rather than first-year sales.
Published on: October 12, 2026
Indian lenders have requested clarification from the Reserve Bank of India regarding new currency-supporting measures. They seek guidance on calculating the foreign exchange risk reserve and its impact on liquidity ratios. Additionally, banks are uncertain about cost transmission to customers and how exposure limits are assessed. Clarifications on the treatment of cash reserves and their classification as high-quality liquid assets have also been requested.
Published on: October 12, 2026
CreditAccess Grameen is in the process of securing a $175 million loan from several international lenders. This funding will help enhance the company's liability profile and is essential for financial management. The company intends to raise a significant portion of its annual borrowing requirements through external commercial borrowings. Financial officials noted that current hedging costs are rising but manageable overall.
Published on: October 12, 2026
HDFC Bank announced the launch of its annual festival offer, with thousands of deals across various services to provide customers with affordable shopping offers. The intitiative would allow customers to save up to ₹70,000 on festive purchases made using HDFC Bank credit cards and EASYEMI on debit and credit cards. The offer covers Xpress Personal Loans, Xpress Car Loans, and other vehicle loans, home loans, and gold loans.
Published on: October 12, 2026
The Reserve Bank of India has implemented fresh regulations that drastically reduce the maximum limit for dollar forward transactions by corporates from $100 million to just $5 million, imposing more stringent documentation requirements. To ease compliance, companies may consider classifying contracted exposures as anticipated exposures. This regulatory shift aims to enhance management of exchange rate risks in light of volatile market conditions, sparking ongoing industry dialogues about its practical impacts.
Published on: October 11, 2026
DBS Bank CEO Tan Su Shan emphasized the strong demand for FCNR(B) deposits as investor confidence in India. She highlighted India's potential for foreign direct investment and its advantageous position in the artificial intelligence sector. Despite foreign net sales affecting the rupee, she remains optimistic about India's economic growth and digital infrastructure. Tan discussed the importance of promoting FDI and exports to stabilize currency levels.
Published on: October 11, 2026
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current rate of 0.40 percent should decrease to 0.08 percent for third-party application providers. Additionally, the study suggests that banks should not depend on transaction fees but use funds from CASA deposits. It emphasizes the development of necessary services to enhance trust in digital payments.
Published on: October 11, 2026
The report cautioned that public trust in UPI could be undermined if the proposed MDR framework is implemented in its present form, stressing the need to ensure that the digital payments platform does not attract negative sentiment among users.
Published on: October 11, 2026
DBS Bank CEO Tan Su Shan addressed concerns about capital outflows from India and highlighted strong demand for FCNR(B) deposits. She emphasized the need for more foreign direct investment and exports to support the rupee's stability. Tan expressed optimism about India's potential in artificial intelligence due to its software talent and digital infrastructure developments. The importance of improving hardware capabilities alongside software strengths was also noted in her discussion.
Published on: October 11, 2026
PNB Housing Finance anticipates a minor enhancement in net interest margin due to the Reserve Bank's recent rate hike. The lender's margin improvement is expected to be between 5 to 8 basis points and will benefit customers through cheaper loans. The company is also experiencing positive demand momentum in the housing finance sector. Additionally, PNB Housing Finance has received a credit rating upgrade to AAA/Stable from Crisil.
Published on: October 11, 2026
The Reserve Bank of India will raise the minimum daily cash reserve ratio requirement to 99% from 90%. This change will take effect from mid-October, specifically the fortnight starting October 16, 2026. Banks will be required to maintain this increased percentage without the previous operational flexibility. The move aims to reduce the current surplus liquidity within the banking system.
Published on: October 9, 2026
Ageas Federal Life Insurance has launched its first GIFT City product, a multi-currency ULIP that lets customers invest in US dollars, euros or pounds while receiving life cover. The Aurum Advantage Plan is open to customers of any nationality, including NRIs, OCIs and PIOs, with a minimum investment of $3,000, €3,000 or £3,000.
Published on: October 9, 2026
