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The National Housing Bank raised concerns over SRG Housing Finance, identifying potentially fictitious loan accounts. Investigations have revealed that around one-third of the lender's loan portfolio consists of these phantom accounts. The inquiry also indicated possible manipulation regarding non-performing assets and the practice of evergreening. Funds linked to these dubious accounts were allegedly redirected to promoters' entities. This issue surfaces amid heightened scrutiny on smaller housing finance firms.
Published on: September 9, 2026
Recent foreign currency deposits could provide a short-term uplift to the growth patterns in bank lending. With the narrowing of differentials, it's anticipated that domestic interest rates will rise soon. The banking sector is poised for accelerated consolidation in the upcoming years, favoring larger banks that leverage scale and technological innovation. In this landscape, Axis Bank is gearing up to implement AI-driven strategies to enhance customer engagement.
Published on: September 9, 2026
Zuno General Insurance has launched a new product called Fuel Guard. This add-on covers damage to cars caused by blended fuel use. The product offers protection for specified engine and fuel-system components. It is available for cars purchased after April 2023. This initiative supports consumers in a changing fuel landscape.
Published on: September 9, 2026
Bank of Baroda MD and CEO Debadatta Chand said the financial system needs to invest significantly more in financial and digital literacy to combat rising cyber fraud. He identified vulnerabilities at both banks and customer levels, while highlighting investments in cybersecurity, AI-based underwriting and cash-flow-based financing for MSMEs.
Published on: September 9, 2026
RBI Deputy Governor Rohit Jain warned financial institutions and fintech firms that rapid adoption of emerging technologies brings risks around speed, concentration and opacity. He said institutions must ensure technology works fairly, reliably and safely for customers, while retaining responsibility for outcomes even when computing, cloud infrastructure or models are outsourced.
Published on: September 9, 2026
Axis Bank CEO Amitabh Chaudhry expects India’s bank credit growth to moderate to 15-16% this year from the current 18-19%, partly due to the base effect and FCNR(B) inflows. He also warned of possible rate hikes in October and December as the India-US interest-rate gap narrows.
Published on: September 9, 2026
DFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowers to use sanctioned credit limits for merchant payments through UPI. The move could widen digital access to formal credit for farmers and small businesses, with more banks expected to join.
Published on: September 9, 2026
The Reserve Bank of India has approved ICICI Prudential Asset Management Company's proposal. This approval allows an aggregate holding of up to 9.95 percent in AU Small Finance Bank. The approval covers various schemes and funds managed by the asset manager. AU Small Finance Bank received the official approval letter on September 8, 2026. This decision is subject to compliance with all relevant banking and financial regulations.
Published on: September 9, 2026
Jio Payment Solutions has launched a new cross-border payment platform. This facility helps Indian exporters receive international payments from global customers. The platform allows payments via virtual accounts and international cards. This launch follows authorization from the Reserve Bank of India for PA-CB transactions. It simplifies global collections and supports compliance for businesses scaling internationally.
Published on: September 9, 2026
RBL Bank and Bank of Maharashtra are actively promoting dollar bonds in international markets as they look to refinance short-term loans acquired for FCNR(B) deposits. Meanwhile, UCO Bank and Bank of India are also gearing up for similar fundraising initiatives overseas, aiming to optimize their asset-liability structures following the closing of the FCNR(B) window.
Published on: September 9, 2026
Axis Bank plans to temporarily relocate staff across multiple Mumbai offices. The bank seeks a larger single office space for its employees. This move comes as their current headquarters will be demolished. A new 32-storey tower is expected to be ready in five years. This situation highlights Mumbai's growing office space demand challenges.
Published on: September 9, 2026
In a strategic move, India and Saudi Arabia have agreed on a three-year deal aimed at invigorating their fintech sectors and startup ecosystems. This collaboration is focused on enhancing market access and attracting investments. By linking startups and fintech enterprises with investors, the initiative is set to solidify economic relations and technology partnerships, resulting in expanded business opportunities.
Published on: September 9, 2026
At Global Fintech Fest 2026, PhonePe founder‑CEO Sameer Nigam framed the company’s first ten years as the construction of India’s financial rails and unveiled a second act tied to a single question: whose progress still remains outside the frame?
Published on: September 9, 2026
PhonePe's Rahul Chari dismissed card tokenization security concerns, stating no fraud is enabled. The company launched three new payment solutions with Visa at the Global Fintech Festival. PhonePe now offers Cross Border Scan to Pay for international transactions. It also enables micro-merchants to accept card payments using its Smart Accept solution. Consumers can now make credit card payments using their phones at small merchants.
Published on: September 9, 2026
In an exciting new venture, Paytm is venturing beyond its established digital payments realm to launch Pi, an innovative service offering artificial intelligence agents specifically tailored for enterprise clients. This strategic move will focus on financial institutions in India and the UAE. After dedicating two years to perfecting a financial services AI model, Paytm hopes this expansion will significantly elevate revenue and profitability.
Published on: September 9, 2026
Multipl has launched a new spending account linked to UPI payments. This innovative account allows users to invest money earmarked for daily expenses. Funds are placed in liquid mutual funds and redeemed automatically for payments. The platform aims to scale this product significantly over the next year. This new offering combines investing, liquidity, and seamless payment capabilities.
Published on: September 9, 2026
Younger consumers and rural households are driving India's retail credit market growth. These aspirational borrowers now account for most new credit originations. Digital platforms and alternative data are key to assessing these new customers. Lenders must adapt underwriting to understand diverse financial footprints. This shift promises wider credit access and financial inclusion for many.
Published on: September 9, 2026
IDFC FIRST Bank has been awarded a BBB- Long-Term and A-3 Short-Term credit rating, underscoring its strong capital position and operational expertise. This evaluation enhances the bank's access to international funding and global markets. The stability of its retail deposit base contributes to a solid outlook, setting the stage for IDFC FIRST Bank's future growth and expansion endeavors.
Published on: September 9, 2026
At Global Fintech Fest 2026, PhonePe co-founder and CPTO Rahul Chari laid out an AI philosophy built on intent-led experiences, engineering scale and operational efficiency.
Published on: September 9, 2026
India aims to export digital financial services leveraging its fintech expertise. This expansion moves beyond traditional IT and professional services exports. Fintech solutions like UPI demonstrate India's capability for global adoption. Digital lending and e-commerce exports also present significant international opportunities. India's government supports these ventures through various initiatives and agreements.
Published on: September 9, 2026
The landscape of retail lending is shifting as non-bank lenders swiftly embrace smaller ticket personal and consumer durable loans. NBFCs and fintech firms are not just leading originations by both volume and value; they are redefining lending opportunities as the economy continues to develop. Banks are still integral, providing necessary funding to NBFCs and utilizing securitization, contributing to a dynamic credit ecosystem with expanded avenues for access.
Published on: September 9, 2026
Announced at Global Fintech Fest 2026, the partnership positions PhonePe as India’s first app to offer a unified suite of Visa-powered cardless payment solutions for consumers and micro-merchants.
Published on: September 9, 2026
IIFL Finance denied reports of Fairfax exiting the company. These reports suggested a stake sale to fund an IDBI Bank acquisition. Blackstone is reportedly in talks with Fairfax for this stake. This potential deal comes as India's financial sector attracts acquisitions. Blackstone previously invested in Federal Bank last year.
Published on: September 9, 2026
With plans for a substantial expansion in India's digital payments sector, Adyen is actively recruiting more staff to address surging demand. This growth is largely attributed to a rise in cross-border transactions and the influx of multinational clients. Since acquiring relevant licenses, Adyen has been enhancing its presence in India and now sees promising long-term growth opportunities ahead.
Published on: September 9, 2026
Banks are planning to auction cars and vehicles on the BAANKNET platform. This initiative aims to streamline the recovery of non-performing assets for lenders. The platform will integrate with VAHAN and RTO services for complete vehicle information. PSB Alliance operates BAANKNET and has already facilitated numerous property auctions. This expansion seeks to enhance efficiency and transparency in asset recovery processes.
Published on: September 8, 2026
The Roy family has secured control of the Peerless conglomerate after a long legal dispute. The Supreme Court dismissed a petition, ending a three-decade corporate legal battle. This judgment brings finality to a significant chapter in Peerless's history. The family holds approximately sixty-six percent of the company's shares. The court upheld the validity of the company's past decisions.
Published on: September 8, 2026
Shriram General Insurance has partnered with SK Finance to enhance customer access to insurance products in vital markets. This exciting collaboration will allow SK Finance to utilize its broad branch network to distribute these offerings effectively. Through this partnership, customers will benefit from relevant insurance solutions available via SK Finance’s extensive distribution channels, while Shriram General Insurance will handle all claims and service requests efficiently.
Published on: September 8, 2026
LIC does not expect the government to sell another stake in the insurer in the immediate future, CEO R Doraiswamy said. The state-owned insurer will focus on long-term investments, technology, simplifying claims and expanding protection and retirement products as it seeks wider insurance coverage.
Published on: September 8, 2026
With over $127 billion raised in overseas FX deposits since June, Indian banks are now confronting a risky situation regarding unhedged future interest payments. This creates a likelihood for heightened dollar demand, posing a threat to the rupee's stability. While many foreign banks have taken precautionary measures, Indian lenders have not. If the rupee faces renewed weakness, it could spark a frantic quest for dollars amid rising exchange rates.
Published on: September 8, 2026
S&P Global Ratings assigned a BBB long-term rating to Bank of India. This rating reflects sufficient capitalisation, solid funding, and healthy liquidity for the bank. The agency noted the likelihood of extraordinary government support if needed for the state-run bank. Bank of India's role in financial inclusion and strong government links underpin its creditworthiness. Profitability and asset quality lagging industry averages temper these strengths, S&P stated.
Published on: September 8, 2026
When choosing an Indian forex broker, it's essential to evaluate their regulatory compliance and account protection measures thoroughly. Analyze trading costs such as spreads, commissions, and swap fees. Opt for a trading platform that provides real-time pricing along with effective risk management features. Don't forget to scrutinize withdrawal policies and any potential fees from third parties, along with understanding partner programs' eligibility and payout details.
Published on: September 8, 2026
Indian insurers are seeking greater flexibility in using equity derivatives, including allowing exposure to be aggregated across multiple funds rather than applying limits separately. The move could help insurers hedge broader equity portfolios, but adoption remains limited. Irdai allowed insurers to use equity derivatives solely for hedging existing equity exposures in February 2025.
Published on: September 7, 2026
The Insurance Regulatory and Development Authority of India has imposed a ₹1 crore penalty on ICICI Lombard General Insurance for lapses in outsourcing, vendor management and corporate governance. The regulator said the insurer failed to classify event management services involving agents of other insurers as outsourced activities or report related expenses.
Published on: September 7, 2026
India’s private banks saw fresh lending spreads widen sharply in July as FCNR(B) inflows improved liquidity and reduced reliance on expensive wholesale funding. Fresh spreads rose 22 basis points to 3.13%, nearly double those at public sector banks. However, analysts cautioned that margin gains could prove gradual and difficult to sustain.
Published on: September 7, 2026
The finance ministry said in a statement Monday it has taken cognisance of the concerns and decided to keep the implementation in abeyance in response to the employee representation on the PLI structure. The matter will now be discussed during the ongoing bipartite settlement or joint note discussions, it said.
Published on: September 7, 2026
Fairfax Financial Holdings plans to exit IIFL Finance to fund its IDBI Bank acquisition. The investor will use proceeds to part-fund the proposed takeover of the state-owned lender. Fairfax intends to merge CSB Bank with IDBI Bank after completing the acquisition. This move aims to simplify lending interests and avoid business overlaps. The deal is expected to be completed shortly after procedural steps.
Published on: September 7, 2026
Indian companies filed proposals worth $7.70 billion for external commercial borrowings in July. This represented a significant 27% growth over the previous month's figures. The Reserve Bank of India had eased its borrowing framework earlier in February. Air India and Interglobe Aviation together filed proposals worth $780 million. These companies sought special permissions from the central bank for their borrowings.
Published on: September 7, 2026
The government has postponed the performance-linked incentive scheme for bank employees. This decision follows employee representations seeking a review of the existing structure. Finance Minister Nirmala Sitharaman met with bank employee representatives to discuss their concerns. The scheme's implementation for 2025-26 will be kept in abeyance. Discussions will continue through bipartite settlement and joint note talks.
Published on: September 7, 2026
SBM Bank India is considering selling a twenty-six percent stake to raise expansion funds. The bank has appointed a consultant and is currently at the Expression of Interest stage. The parent company recently infused seventy-five crore rupees and will provide more capital. SBM Bank India aims for significant credit growth and is strengthening its digital wealth offerings.
Published on: September 7, 2026
SBM Bank India is exploring a twenty-six percent stake sale to fund its expansion plans. The bank has appointed a consultant and is currently at the Expression of Interest stage. Parent entity has infused capital, and another infusion is expected this month. SBM Bank India aims for significant credit growth and is expanding its branch network. The bank is also strengthening its digital wealth proposition with a new investment platform.
Published on: September 7, 2026
RNFI Services has received in-principle RBI authorisation to operate as a Payment Aggregator-Physical (PA-P), allowing it to expand into offline and in-store payments. The approval adds another regulated payments capability to its existing financial services portfolio, including money movement, mutual fund distribution, insurance broking and prepaid payment instruments.
Published on: September 7, 2026
Non-banking financial companies saw 14.9 percent credit expansion by July end. This growth accelerated from last year's 10.6 percent expansion. Gold loans surged 68.5 percent and consumer durable loans grew 51.5 percent. Retail loans within NBFCs increased 21.4 percent, showing strong performance. Housing and vehicle loans also recorded significant year-on-year growth.
Published on: September 7, 2026
State Bank of India on Monday said bank unions have served strike notices for September 11, September 28-30 and a continuous strike from October 26. SBI said it has made arrangements for normal functioning at branches and offices, but warned that work across the bank may nevertheless be impacted.
Published on: September 7, 2026
Axis Bank has launched Arise Homecoming to recruit Indians studying or recently educated overseas who want to build careers back home. The programme covers opportunities across technology, digital, strategy, wealth and other functions and is also open to professionals with up to two years of international work experience.
Published on: September 7, 2026
Fairfax Financial Holdings is considering selling its IIFL Finance stake. This move supports its planned acquisition of IDBI Bank Ltd. The Canadian firm is in talks with private equity firms for this potential sale. This transaction is part of a larger strategy for the Indian banking sector. The company aims to consolidate its Indian lending investments after the acquisition.
Published on: September 7, 2026
Futures grid trading presents a methodical way to navigate the unpredictable terrain of crypto markets. By segmenting price ranges into distinct levels for execution, this automated strategy enables traders to efficiently adjust to market dynamics without needing to constantly monitor activities. Nevertheless, the use of leverage and susceptibility to market disruptions introduce important risks; thus, selecting appropriate parameters and applying diligent risk management is essential for effective grid trading.
Published on: September 7, 2026
Large microfinance companies received 98.1% of sector funding in Q1. This funding concentration reflects financiers playing safer during uncertain economic cycles. Smaller institutions face tighter liquidity and higher borrowing costs, impacting recovery pace. Banks contributed 80.4% of the Rs 21,407 crore debt funding received. NBFC-MFIs remain the largest micro-credit provider with a 44.3% market share.
Published on: September 7, 2026
NIIF has appointed Gauravjit Singh as managing partner and global head of capital formation. Singh, who previously worked at PAG, True North and KKR, will focus on expanding NIIF’s global and domestic investor base as the fund steps up capital mobilisation.
Published on: September 7, 2026
The payments ecosystem in India is moving beyond just digitisation, and towards infrastructure that can operate seamlessly across borders, and connected ecosystems. Adyen, a global fintech company with presence in India is positioned to achieve exactly that for Indian merchants who have the ambition to go global and global enterprises expanding in India.
Published on: September 7, 2026
Local alternative investment funds have warned regulators about proposed changes. These changes could significantly impact capital inflows into India's economy. The draft rules aim to curb indirect foreign ownership in sensitive sectors. Industry officials requested the status quo on existing regulatory definitions. This move seeks to maintain India's attractiveness for foreign investment.
Published on: September 6, 2026
