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Banking/Finance-Industry-Economic Times
Global accounting and consulting firm KNAV has acquired a majority stake in UAE-based Affiniax Group. This strategic investment underscores KNAV's commitment to expanding its global presence and enhancing its service offerings in key international markets. Both firms are members of the Allinial Global association.
Published on: February 4, 2026
The government plans a conclave for state-run banks this month. The aim is to create globally competitive lenders for Viksit Bharat 2047. This initiative follows the Finance Minister's announcement of a High Level Committee on Banking. The conclave will focus on customer-centricity and scaling credit. Banks will share roadmaps for the next five years.
Published on: February 4, 2026
YES Bank has appointed Vinay Tonse as its new Managing Director. This move signals a measured leadership approach by its new promoter, Sumitomo Mitsui Banking Corporation. Experts believe this choice prioritizes continuity and operational familiarity. Tonse faces the task of boosting loan growth and increasing low-cost deposits. The bank's assets, deposits, and advances have seen growth.
Published on: February 4, 2026
Most large life and general insurers in India are promoted by banks and have nominee directors drawn from their promoter banks' boards or senior management. Companies such as SBI Life, SBI General Insurance, HDFC Life and IndiaFirst Life typically have common directors to represent promoter interests.
Published on: February 4, 2026
LIC MD Dinesh Pant highlights the government's strong focus on the insurance sector, evidenced by 100% FDI, GST reduction on individual policies, and the insurance amendment bill. These reforms aim to boost economic growth and bridge India's protection gap, supporting the 'Insurance for All by 2047' goal. The budget's increased capex and improved fiscal management are also praised.
Published on: February 4, 2026
The Reserve Bank of India is considering a significant overhaul of its lender supervision, moving beyond traditional ratio analysis to a deeper examination of banks' business models. This shift aims to identify risks earlier, especially as India's banking system expands rapidly and digital threats multiply.
Published on: February 4, 2026
The Reserve Bank of India has approved Vinay Muralidhar Tonse as the new Managing Director and CEO of Yes Bank for a three-year term. Tonse, formerly MD of Retail Business & Operations at SBI, will take over from Prashant Kumar, subject to shareholder approval. This leadership change aims to bolster Yes Bank's growth strategy and operational stability.
Published on: February 4, 2026
ChrysCapital has acquired a significant minority stake in Nash Industries. This Bengaluru-based company provides design and manufacturing solutions. The deal values Nash Industries at approximately ₹6,000 crore. Nash Industries operates 15 manufacturing facilities across South and West India. This investment highlights ChrysCapital's focus on manufacturing businesses. The partnership aims to accelerate Nash Industries' growth and technological capabilities.
Published on: February 3, 2026
Banks are poised to reopen credit lines for Indian export sectors following the US's reduction of import tariffs to 18%. This move is expected to quickly revive exports of garments, gems, jewelry, leather, and chemicals, leading to increased demand for bank loans. Public sector banks anticipate leading this export credit rebound in the coming quarters.
Published on: February 3, 2026
India is set to boost foreign investment in its state-owned banks. The government plans to raise the foreign direct investment limit to 49 percent. This move aims to strengthen banks and support the nation's ambitious growth plans. Stronger banks will help finance large infrastructure and green energy projects.
Published on: February 3, 2026
Bharti AXA Life Insurance has partnered with Equitas Small Finance Bank. This collaboration aims to expand life insurance access. Equitas Small Finance Bank's network will offer Bharti AXA Life Insurance's savings and retirement plans. The partnership seeks to boost financial preparedness, especially in semi-urban and rural areas. It strengthens the distribution of life insurance products across India.
Published on: February 3, 2026
Affordable housing financiers will see slower growth in their managed assets. This growth is expected to be around 21 percent in fiscal year 2026. Loan against property segment will also experience a slowdown. Profitability will remain healthy. The overall mortgage finance industry will grow steadily. Small-ticket loans require attention due to rising overdue assets.
Published on: February 3, 2026
Fintech giant PhonePe is preparing for its public listing. Its massive scale in UPI payments is a key strength. The company is now focused on expanding into higher-margin financial services like loans and insurance. This strategy aims to leverage its large user base for deeper engagement and revenue growth.
Published on: February 3, 2026
Unified Payments Interface transactions have hit a record Rs 230 lakh crore this financial year until December. This digital payment system is growing rapidly. UPI is now operational in eight countries, facilitating cross-border payments. International Monetary Fund recognizes UPI as the world's largest retail fast-payment system by volume.
Published on: February 3, 2026
Aditya Birla Housing Finance is set to receive Rs 2750 crores from Advent International. This investment values the company at Rs 19,250 crores. The capital infusion will boost ABHFL's growth and market presence. The deal awaits necessary approvals. Aditya Birla Capital will retain a majority stake. This move strengthens the housing finance sector.
Published on: February 3, 2026
Truhome Finance has appointed former SBI Chairman Dinesh Kumar Khara as its new chairperson for a five-year term. Khara, instrumental in SBI's major mergers, brings extensive experience from leadership roles in global banking, risk management, and IT. His appointment signals a significant development for the mortgage lender.
Published on: February 3, 2026
Jagdeep Mallareddy, currently CEO of retail lending at Piramal Finance, is set to join IndusInd Bank to lead its consumer finance business. This strategic hire by CEO Rajiv Anand is crucial for the bank's retail growth plans. Mallareddy, who previously worked with Anand at Axis Bank, will oversee both asset and liability sides of retail banking.
Published on: February 3, 2026
New initiatives aim to boost credit access for the unbanked. The BAANKNET app and Digital Balance Confirmation Platform were launched to streamline property auctions and audits. The PSB Alliance is encouraged to broaden its services. These steps support financial inclusion and efficiency. India's banking sector shows robust health with declining NPAs and steady credit growth.
Published on: February 2, 2026
Budget 2026: The microfinance sector did not receive budget credit guarantee support. However, it anticipates that proposals aimed at increasing rural incomes will enhance the repayment capacity of its customers. Focus on fisheries, animal husbandry, and high-value agriculture through credit-linked programs is expected to strengthen income diversification.
Published on: February 2, 2026
Smaaash Leisure, a popular entertainment operator, has been admitted to insolvency proceedings. The company failed to repay its dues, leading to the application by JC Flowers Asset Reconstruction. The National Company Law Tribunal has appointed an interim resolution professional to manage the process. This development follows a loan default in December 2020.
Published on: February 2, 2026
India is in discussions with Ant International to integrate its instant payment system, UPI, with Alipay+ for seamless cross-border transactions. This initiative aims to simplify payments for Indian travelers abroad, enabling them to use UPI with merchants partnered with Alipay+. The move signifies a significant step towards enhancing international payment convenience.
Published on: February 2, 2026
The Indian government is actively conducting inter-ministerial discussions to increase the foreign direct investment (FDI) ceiling in state-owned banks from the current 20% to 49%, financial services secretary M. Nagaraju said on Monday, reported Reuters.
Published on: February 2, 2026
As per industry officials, the announcement suggests a move toward modernising their business models, which may include better risk management and adoption of market-driven approaches.
Published on: February 1, 2026
A new committee will review India's banking sector. It aims to create fewer, larger banks. This will help fund big projects for India's growth. The panel will also look at ownership rules for private banks. This could attract more foreign investors. The goal is to align banks with India's vision for a developed nation by 2047.
Published on: February 1, 2026
The Union Budget emphasizes fiscal discipline and growth. It supports ease of doing business and living, boosting employment. Key initiatives target sunrise sectors and MSMEs. Investments in digital infrastructure, tourism, and healthcare are highlighted. Banking reforms and infrastructure project support are also planned. Public capital expenditure remains a priority for infrastructure creation.
Published on: February 1, 2026
India's minimum alternate tax rules are changing significantly from April 1, 2026. The MAT rate will drop to 14%. New MAT credits will not be allowed. Companies can use old MAT credits, but only a quarter of their tax bill each year. This aims to simplify taxes and guide businesses to a lower 22% corporate tax rate.
Published on: February 1, 2026
Amitabh Kant lauded Finance Minister Nirmala Sitharaman for fiscal discipline in Budget 2026-27, noting a reduced fiscal deficit to 4.3% of GDP alongside increased capital expenditure. DP World highlighted the Rs 10,000 crore allocation for domestic container manufacturing, while Alstom praised the seven new high-speed rail corridors for boosting mobility and the economy.
Published on: February 1, 2026
India's GIFT City, a global financial hub, has received a significant fiscal boost with its tax holiday extended to 20 years. Entities will then be taxed at a lower 15% rate, enhancing offshore financial competitiveness. This move strengthens GIFT City's position as a globally competitive financial hub.
Published on: February 1, 2026
Unified Payments Interface transactions hit a new high in January. Indians made 21.7 billion UPI payments. The total value of these transactions reached Rs 28.33 lakh crore. This shows a significant increase from the previous month. The growth in UPI usage continues to be strong. This digital payment system is rapidly expanding its reach across the nation.
Published on: February 1, 2026
Union Budget 2026: India's banking sector is strong with improved balance sheets and high profits. Finance Minister Nirmala Sitharaman announced a high-level committee to review the system. This panel will chart the next phase of reform-led growth. It will also look at the role of Non-Banking Financial Companies. Public sector NBFCs will be restructured to improve efficiency and focus on key sectors.
Published on: February 1, 2026
SBI launched 'Chakra', a center of excellence to finance sunrise sectors like data centers and renewable energy, estimating a Rs 22 lakh crore debt requirement over five years. The initiative, joined by public and Japanese lenders, aims to enhance coordination and risk assessment for strategic expansion beyond balance sheet strengthening.
Published on: January 31, 2026
Public sector banks are urged to focus on champion sectors like electric mobility and advanced batteries to support national priorities. This strategic expansion, moving beyond balance sheet repair, aims to leverage a Rs 131 trillion capital expenditure pipeline in eight sunrise sectors, presenting a significant project finance opportunity.
Published on: January 31, 2026
SBI Chairman CS Setty has advocated for equal tax treatment for bank deposits and equity investments. He believes the equity market has matured, warranting an end to special tax benefits. This call comes as household savings shift towards equities, impacting bank deposit mobilization. Banks need new financing avenues for infrastructure projects amid this financialization trend.
Published on: January 31, 2026
State Bank of India is launching a new initiative to fund eight key sunrise sectors. These sectors include renewable energy, electric mobility, and semiconductors. The bank aims to direct capital flow and strengthen risk assessment for these growing industries.
Published on: January 31, 2026
SBI chairman C S Setty calls for equal tax treatment on returns from equity investments and bank deposits. He believes this will create a level playing field for financial savings. A banking official also requests an extension of the tax holiday for income earned in Gujarat's GIFT City. This move aims to boost activity in India's International Financial Services Centre.
Published on: January 31, 2026
Companies bidding on a recent opportunity must submit an unconditional offer, according to bid documents. Any conditions attached to an offer will make it invalid. The documents also state that bidders will not have the right to make changes to the share purchase agreement after it is submitted to the Department of Investment and Public Asset Management (Dipam). This information comes from people familiar with the matter.
Published on: January 30, 2026
In a bold stride towards economic empowerment, Regional Rural Banks are ramping up their financial support for agriculture and small enterprises. This initiative comes on the heels of a notable surge in net profits, coupled with an impressive capital to risk-weighted assets ratio, showcasing their financial resilience and commitment to fostering growth in rural landscapes.
Published on: January 30, 2026
In an ambitious move, the World Bank Group has committed to funneling $8-10 billion each year into India over the next five years. This groundbreaking partnership pivots around enhancing job creation through the private sector.
Published on: January 30, 2026
Gold loans experienced the fastest growth, surging 128% year-on-year to Rs 3.83 lakh crore. Priority housing loans also saw significant expansion, rising 37% annually. Overall bank credit grew 14.5%, with industry credit showing a robust 13.3% increase.
Published on: January 30, 2026
India's government has set a February 5 deadline for financial bids to divest a majority stake in IDBI Bank, marking a significant step in the privatization process. Eligible bidders, including Fairfax Financial Holdings and Emirates NBD, are now in the final phase. The government and LIC aim to sell 60.7% of the lender, with the successful bidder gaining naming rights.
Published on: January 30, 2026
RBI rate cut: This is the first data point reflecting the 25-basis point repo rate cut announced by the Reserve Bank of India in December 2025, following cumulative policy easing of 125 basis points over the course of 2025.
Published on: January 30, 2026
Major global reinsurers, including Lloyd's of London, are seeking Indian regulatory approval to establish operations in GIFT City, a low-tax financial hub. These companies aim to tap into India's substantial insurance market by offering specialized products and benefiting from favorable tax treatment and regulatory alignment.
Published on: January 30, 2026
Citigroup India has appointed Ankur Khurana as its new head of commercial banking. This move signals a stronger focus on India's growing mid-market corporate sector. Khurana brings over two decades of banking experience. She previously worked at Standard Chartered Plc. This position was vacant since July.
Published on: January 30, 2026
Go Digit General Insurance has disbursed payouts to around 500 farmers in Rajasthan. This marks a significant step in climate-linked insurance for agriculture. The policy covered soil moisture imbalance during the rabi season. This parametric solution offers immediate liquidity using objective data. It helps bridge the gap between climate shock and recovery for farmers.
Published on: January 29, 2026
Punjab & Sind Bank will open a branch at GIFT City in Gandhinagar, Gujarat. The Reserve Bank of India has given its approval. This move marks the bank's entry into international banking. The GIFT City IFSC is India's premier international financial hub. The bank aims to strengthen its foreign currency lending and trade finance capabilities.
Published on: January 29, 2026
Indian households are increasingly investing in equities and market-linked instruments. This shift marks a significant change from traditional bank deposits. The trend shows growing confidence in riskier assets. While equity participation is rising, the debt market remains underdeveloped. Developing the debt market is the next step for a robust financial system.
Published on: January 29, 2026
The Economic Survey also noted that while private equity and venture capital funding has fuelled the expansion of the microfinance sector, it has also been accompanied by recurring stress, including over-lending and over-indebtedness.
Published on: January 29, 2026
The Reserve Bank of India has paused plans for banks to disclose climate change risks. This move impacts global efforts towards a low-carbon economy. The proposed rules, discussed since 2022, aimed for banks to report loan portfolio risks and mitigation strategies. Implementation was expected from fiscal year 2027. The central bank cited current priorities and potential costs for corporates.
Published on: January 29, 2026
A new India-EU trade deal opens doors for EU banks in India. EU banks can now establish 15 branches over four years. India also permits 100% foreign direct investment in its insurance sector. In return, Indian professionals will benefit from a more stable visa regime. This agreement boosts financial services for both regions.
Published on: January 29, 2026
A fatal Learjet 45 crash near Pune, killing five, is expected to trigger insurance claims of approximately ₹50 crore. The aircraft, insured by ICICI Lombard, was attempting to land when it crashed. This follows another aviation insurance claim of ₹18 crore earlier this month.
Published on: January 28, 2026
