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Banking/Finance-Industry-Economic Times
The Competition Commission of India has cleared MetLife International Holdings’ acquisition of an additional 0.5% stake in PNB MetLife India Insurance through the green channel route. The transaction involves 10,247,348 shares acquired from Jammu & Kashmir Bank, taking MetLife International’s holding from about 49.73% to 50.23% without changing joint control.
Published on: September 28, 2026
Insurers like Life Insurance Corp and SBI Life need to improve cost efficiencies under new regulatory guidelines. The proposals suggest lowering the expense of management limit from around 16% to 12.5% within five years. While larger insurers are compliant, they must reduce their efficiencies further. Smaller players might gain market share if they enhance their operations as well. The overall goal is to increase efficiency and value for policyholders.
Published on: September 28, 2026
MetLife International will raise its stake in PNB MetLife by 0.5% to 50.23% through a purchase from Jammu & Kashmir Bank, with CCI clearing it under the green channel. CCI is also examining Bain Capital’s investment in Millennia Realtors and the RMZ group.
Published on: September 28, 2026
The Supreme Court has declined to grant an interim stay on the government’s new merchant discount rate policy. This policy imposes a 0.4% charge on specific Unified Payments Interface transactions exceeding Rs 2,000. The decision comes as a public interest litigation challenges the legality of this levy. Notices have been issued to the government and financial organizations involved. The new policy is set to take effect on October 15.
Published on: September 28, 2026
IndusInd Bank has introduced a new banking vertical specifically for Global Capability Centres within India. This initiative aims to address the growing banking needs of these centres as they expand. The vertical integrates corporate and employee banking into a unified relationship. It also includes foreign-currency account services to meet cross-border transaction requirements. IndusInd Bank's approach reflects the evolving landscape of the GCC ecosystem in the country.
Published on: September 28, 2026
Smaller life and general insurers worry that proposed distribution reforms might benefit larger insurers disproportionately. The changes include lowering expense management limits for both life and general insurers. Smaller insurers are concerned that the aggregate expense cap could limit their competitive ability in retail insurance. Larger insurers may leverage their economies of scale to manage costs more effectively.
Published on: September 28, 2026
Rajiv Anand, the MD and CEO of IndusInd Bank, has been informed that his name is unmapped from the electoral roll. He expressed confusion as he has valid identification including voter ID and Aadhar card. The Election Commission is conducting a Special Intensive Revision for voter list updates. They have extended deadlines for filing claims in Delhi and Maharashtra as part of this effort.
Published on: September 28, 2026
HSBC Holdings Plc plans to expand its operations in India by increasing its branch network by 35% over the next two years. The bank aims to become one of the top private banks in India by 2030, focusing on wealth management and transaction banking. HSBC is also targeting affluent customers whose interests span globally to strengthen its international network.
Published on: September 28, 2026
Banks are expected to remain open on September 28 as the proposed strike has been deferred. This decision follows discussions between the United Forum of Bank Unions and the Indian Banks’ Association. A high-level committee will be formed to address pending demands, including holiday declarations for Saturdays. Customers should verify branch timings and local arrangements before visiting their banks.
Published on: September 28, 2026
IRDAI chairman Ajay Seth said insurers should pass savings from lower commissions and operating costs to policyholders through lower premiums, better returns or improved claims payouts. The regulator’s proposed tighter limits on commissions and expenses aim to improve affordability, curb mis-selling and reduce compulsory bundling.
Published on: September 28, 2026
The benefit of cost efficiency should be passed on to customers. This entire exercise is intended to ensure that the public and policyholders benefit. For a life insurance savings product, the outcome should be better returns. In general insurance, it should result in better claim ratios. Cost efficiencies should get passed on through lower premiums, or the rate of increase in premiums should be moderated, or returns on savings products should be better than they are today, says Ajay Seth.
Published on: September 27, 2026
Groups are restructuring NBFC and holding-company balance sheets to stay outside RBI’s regulatory definitions and avoid registration and compliance requirements, sources said. NBFCs are boosting non-financial income, while CICs are changing their asset mix.
Published on: September 27, 2026
The finance ministry has sought feedback from banks on their use of AI-driven loan collection tools to assess adoption and customer-protection practices. Most banks are using AI for borrower engagement and repayment, while only a few have implemented conversational AI for collections.
Published on: September 27, 2026
Bank unions have decided to defer a planned three-day strike after discussions with the Indian Banks' Association. A new high-level committee will be formed to address important employee demands, including Saturdays as holidays. Union representatives aim to resolve concerns related to the Performance Linked Incentive scheme for higher-ranking officers. The Finance Ministry has encouraged dialogue for addressing unresolved issues while ensuring services remain uninterrupted.
Published on: September 27, 2026
Exempting individual health insurance premiums from GST has led to increased policy adoption across various demographics. Star Health reported an 11% rise in retail policy adoption following this tax reform. There has been a substantial increase in the average sum insured on new policies during this period. Consumers aged 26 to 50 made up a significant portion of new policy additions, accounting for over 80 percent.
Published on: September 27, 2026
SBI aims to harness digital banking and strengthen customer relationships as part of its growth strategy. The bank's total business could potentially reach Rs 200 lakh crore by 2030 as it celebrates its platinum jubilee. Chairman C S Setty highlighted the importance of customer protection alongside the digital transformation of banking services.
Published on: September 27, 2026
The Confederation of All India Traders (CAIT) said it has taken serious note of certain media reports and social media posts claiming that CAIT has announced or endorsed a nationwide "No UPI Day" on October 2, related to the proposed MDR levy on specified UPI transactions above Rs 2,000 from October 15.
Published on: September 25, 2026
Public sector banks and older generation private banks have issued advisories to customers, urging them to complete essential banking transactions ahead of the three-day strike from September 28 called by the United Forum of Bank Unions (UFBU). To meet customers' banking needs before the three-day nationwide strike, the government has already instructed public sector banks to stay open on Sunday.
Published on: September 25, 2026
Outstanding bank deposits and advances declined significantly during the fortnight ending September 15. Deposits fell by Rs 2.49 lakh crore due to the maturing of high-cost bulk deposits. Deposit growth slowed to 17.3%, while credit growth also dropped to 18.1%. The RBI data indicated that banks experienced a net withdrawal affecting their cumulative outstanding deposits. These changes reflect an adjustment in banks' strategies influenced by recent overseas deposit inflows.
Published on: September 25, 2026
In a significant restructuring of the Insurance Regulatory and Development Authority of India (IRDAI), Dinesh Pant, Managing Director of LIC, and Girija Subramanian, ex-CMD of New India Assurance, have been appointed as new members. Pant's retirement is effective September 24, 2026, while Subramanian stepped down in July. These changes are indicative of the dynamic shifts within India's insurance regulatory landscape.
Published on: September 25, 2026
In a significant ruling, the Delhi High Court mandated police to locate a new site for the protest organized by bank employees, due by September 28, following the rejection of the Jantar Mantar application. The United Forum of Bank Unions has organized a nationwide strike from September 28 to 30, set to disrupt services across the nation, while pushing for a five-day work week and improved pension plans.
Published on: September 25, 2026
The share of high-value microfinance loans above ₹75,000 to individual borrowers rose to 41% in Q1 FY27, from 28% a year earlier, as lenders increasingly focused on existing borrowers with established credit histories.
Published on: September 25, 2026
PB Fintech came under heavy selling pressure after IRDAI proposed changes to insurance commissions and distribution economics. PB Fintech shares plunged 36% on Thursday, wiping out more than ₹31,400 crore in market value, and remained volatile on Friday.
Published on: September 25, 2026
The government is evaluating revised financial bids from Fairfax Financial Holdings and Emirates NBD for the proposed sale of a 60.72% stake in IDBI Bank, with the process moving at a steady pace.
Published on: September 25, 2026
Finance Minister Nirmala Sitharaman confirmed that the Merchant Discount Rate on UPI payments above Rs 2,000 will not be passed to consumers. This rate is a charge borne by merchants and not the government. Sitharaman emphasized that this charge is not a tax, cess, or surcharge. The rate is set at 0.4% and will impact only certain UPI transactions.
Published on: September 25, 2026
Reliance Industries Limited is planning to raise ₹10,000 crore next week through a ten-year maturity bond. Other firms, including Adani Airport Holdings, will raise significant funds as well this Friday. The increasing number of companies tapping debt indicates the surplus liquidity in the banking system. This trend is occurring ahead of the Reserve Bank of India's monetary policy decision on October 7.
Published on: September 24, 2026
Shares of insurers, banks, and non-banking finance companies dropped sharply following proposed commission caps by Irdai. The proposals raised concerns over the outlook for businesses reliant on insurance distribution. Major companies such as PB Fintech and Max Financial Services experienced significant declines. Analysts indicate that banks and NBFCs could face negative impacts from the changes in commission structures.
Published on: September 24, 2026
In August, credit card spending decreased by 2.8% to ₹2.02 lakh crore from July's ₹2.08 lakh crore. While year-on-year spending saw an increase of 5.9% compared to August 2025, the trend indicates moderation. Additionally, banks added 1.19 million new credit cards, down 5.6% from July's figures. This brings the total credit card tally to 124.1 million at the month's end.
Published on: September 24, 2026
National Payments Corporation of India plans to introduce a 0.4% merchant discount rate for UPI transactions. This could help recover about ₹13,000-15,000 crore of annual costs while most transactions remain free. According to CEO Dilip Asbe, 80% of the MDR would come from large businesses already accepting credit cards. He noted that reintroducing charges after six years of zero MDR is necessary due to slowed investments.
Published on: September 24, 2026
Axis Bank is set to launch an extensive outreach program across India, spotlighting tourism and hospitality sectors in Goa. The initiative plans to engage over 5,000 customers and honour approximately 1,000 entrepreneurs.
Published on: September 24, 2026
The GST Council will meet on October 7 to discuss GST levy on UPI merchant fees exceeding Rs 2,000. The government has proposed a 0.4 percent merchant discount rate that will apply from October 15. This merchant discount rate will be capped at Rs 300 and is considered a taxable service under GST. Merchants will be able to claim Input Tax Credit on the GST paid on the merchant fees.
Published on: September 24, 2026
Government sources clarified that the proposed merchant fee on UPI transactions above Rs 2,000 will not affect consumers. National Payments Corporation of India noted that a small portion of UPI transactions might be impacted. The amount collected will be shared among banks and stakeholders within the UPI ecosystem. The Indian Banks' Association plans to address misunderstandings about the charges soon.
Published on: September 24, 2026
Under the proposed framework, distributors could be rewarded for the quality of sales and servicing, while commissions could be clawed back in cases of mis-selling. The regulator has also proposed greater accountability for individual sales staff by tagging their identity to policies sold and putting information on mis-selling incidents in the public domain.
Published on: September 24, 2026
Proposed commission caps from the Insurance Regulatory and Development Authority of India could severely impact PB Fintech's revenue. The company anticipates a potential reduction in income from general insurance to 33-40% of current levels. As a response, PB Fintech plans to enhance cost control measures and shift its focus toward profitability.
Published on: September 24, 2026
Reserve Bank Deputy Governor Rohit Jain stated that banks are expected to deploy additional liquidity from FCNR(B) deposits. This deployment is likely driven by anticipated strong credit demand during the festive season. The RBI will not direct banks towards specific sectors for fund utilization, allowing for discretion based on credit proposals. Jain emphasized that credit demand is broad-based across different sectors, indicating a healthy economic environment.
Published on: September 24, 2026
Morgan Stanley is scrambling to contain the fallout from an accidental email leak that exposed a list of more than 100 potential and ongoing deals across Asia and other regions.
Published on: September 24, 2026
Insurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Proposed limits on commissions aim to reduce mis-selling and distribution costs in the insurance market. The changes could significantly impact banks, brokers, and digital distributors dependent on commissions for income. Insurers may need to adapt their distribution models in response to the proposed regulations.
Published on: September 24, 2026
RBI Deputy Governor Rohit Jain said technology is no longer merely an enabler for banks but is becoming their “risk architecture”, making technological resilience as important as financial resilience. He urged banks to treat technology risk as a first-order enterprise risk, with stronger governance, cybersecurity, third-party oversight and AI controls.
Published on: September 24, 2026
CII said India’s manufacturing sector is shifting from simply expanding capacity to building domestic supply chains, developing technology and integrating deeper with global markets as Make in India completes 12 years.
Published on: September 24, 2026
Gold may have pushed silver into the spotlight, but the shift is not just about price. Younger Indians, in particular, are looking at silver differently, seeking jewellery they can experiment with and wear more often — something that is harder to do with gold at current prices.
Published on: September 24, 2026
Irdai has proposed an overhaul of the commission payment structure for insurance distributors across various products. This new framework aims to establish limits based on product type, distribution channel, and policy size. Additionally, Irdai suggests reducing life and general insurers' overall expense limits within specific timeframes. The commission structure varies significantly between health and property insurance, reflecting market demand.
Published on: September 23, 2026
Irdai proposes prohibiting dark patterns on insurance websites that require personal details to access information. The reforms aim to improve transparency and make insurance distribution more customer-centric. A new framework categorizing distribution entities is also suggested to simplify the existing structure. Proposed changes include reducing Expense of Management limits for life and general insurers to lower costs.
Published on: September 23, 2026
State Bank of India will start charging a merchant discount rate on UPI payments exceeding Rs 2,000 from October 15. The bank anticipates generating surplus revenue due to its extensive card issuing and payment gateway services. Initially, MDR fees will be divided among issuing and acquiring banks, payment gateways, and UPI applications. SBI is evaluating the potential impact of transaction splitting on its systems and volumes.
Published on: September 23, 2026
Savings accounts are crucial for achieving financial security and generating passive income. By routinely evaluating various savings options, individuals can benefit from higher interest rates. It's important to refrain from unnecessary withdrawals to fully capitalize on interest accumulation. Utilizing features like Auto Sweep can further optimize surplus funds while keeping them accessible, and establishing clear saving objectives can inspire effective savings growth.
Published on: September 23, 2026
The Finance Ministry has announced that all Public Sector Banks and Regional Rural Banks will operate normally on September 27. This decision follows the United Forum of Bank Unions' proposal for a three-day nationwide bank strike. The government is focused on ensuring the banking needs of citizens are met without disruption. Customers can access banking services uninterrupted during this period for their convenience.
Published on: September 23, 2026
JPMorgan Chase & Co. plans to expand its operations at Gujarat's GIFT City in the next few years. The bank aims to double its business in areas like trade finance and payments. After establishing its branch in 2022, JPMorgan currently serves a few hundred clients with a book of nearly $1 billion. GIFT City is attracting multinational companies exploring treasury and cross-border financial operations.
Published on: September 23, 2026
SBI, Bank of Baroda and Canara Bank have advised customers to complete important branch transactions in advance ahead of a proposed bank strike from September 28 to 30, 2026, and use digital and self-service channels during the period.
Published on: September 23, 2026
In situations where banks are inundated with liquidity, the natural tendency among many lenders is to push loans and go down the credit matrix. The fear is that such aggressive lending to generate returns that cover the interest outgo on deposits and other costs may show up as sticky assets a few years down the line.
Published on: September 22, 2026
The state-owned general insurer holds 35.2 million shares, representing a 1.42% stake, in the country's largest stock exchange that closed its ₹22,562-crore initial public offer (IPO) on Monday.
Published on: September 22, 2026
Its composition is being finalised and is likely to include a former Reserve Bank of India (RBI) deputy governor, industry leaders from the fintech sector and an Indian Banks' Association (IBA) nominee, said people familiar with the matter.
Published on: September 22, 2026
