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Banking/Finance-Industry-Economic Times
"The decline in the level of revolvers has impacted profitability," ICICI Bank group CFO Anindya Banerjee said, adding that the business remained profitable and retained multiple levers-including cost management and rewards optimisation-to sustain returns. "It is a business one would continue to have a very strong focus on."
Published on: May 18, 2026
"Senior executives and board members at HDFC Bank are understood to be in favour of maintaining continuity at the top level until the ongoing legal review is completed and its findings are discussed by the board," a bank official said. "The view within the bank is that initiating the process for appointing a new chairman before the review concludes could be premature and may complicate governance discussions currently underway."
Published on: May 18, 2026
UPI processed most payment transactions in India by volume in late 2025. RTGS handled significant value with low volume. NEFT offered versatility. Digital payments saw explosive growth from 2021 to 2025. UPI's rise led to a sharp decline in debit card usage for everyday retail payments.
Published on: May 18, 2026
State Bank of India Staff Federation protested in Kolkata demanding recruitment and an end to mis-selling insurance. Employees will strike nationwide on May 25 and 26. The federation alleges issues with resolving employee concerns and agreements. Previous protests included badge-wearing and demonstrations. Future actions involve candle marches and the planned strike.
Published on: May 18, 2026
The Reserve Bank of India has placed restrictions on Etawah-based Nagar Sahakari Bank. Customers can withdraw a maximum of Rs 10,000. The bank cannot grant new loans or accept fresh deposits without RBI approval. These measures are in place for six months to protect depositors. The RBI will monitor the bank's financial health and adjust the directions as needed.
Published on: May 18, 2026
Liberty Mutual Insurance has increased its stake in Liberty General Insurance to 74%, strengthening its commitment to India’s fast-growing insurance market. Following an earlier stake hike in September 2025, the company plans to expand distribution networks and deepen its presence across retail and commercial insurance segments, while capitalising on rising insurance penetration opportunities in India.
Published on: May 18, 2026
Jana Small Finance Bank is raising Rs 728 crore by selling equity shares, with Shruti Lohia's firm set to acquire around 4% and TVS Venu Group taking a 9.9% stake on a fully diluted basis. The bank is planning to upgrade to a universal bank, having reapplied for a license after an initial rejection.
Published on: May 18, 2026
Indian authorities are exploring ways to revive the long-delayed sale of a majority stake in IDBI Bank after bids fell short of expectations earlier this year. Officials are considering lowering the reserve price by up to 20% and reducing reliance on the bank’s market price to make the deal more attractive to buyers, according to people familiar with the matter.
Published on: May 18, 2026
India’s finance ministry has directed state-run banks, insurers and financial institutions to cut costs through measures such as limiting travel, holding meetings virtually and shifting to electric vehicles. The order applies to institutions including State Bank of India, Bank of Baroda and Life Insurance Corporation of India.
Published on: May 18, 2026
ICICI Bank will maintain its majority stake in ICICI Prudential Life Insurance following its partner Prudential's acquisition of a controlling stake in Bharti Life. This move necessitates Prudential reducing its holding in ICICI Prudential Life to below 10%. Despite market jitters, ICICI Bank reaffirms its long-term commitment to the life insurer.
Published on: May 18, 2026
HDFC AMC has reported a cyber-security incident. An anonymous source claimed access to its IT systems. The company is assessing the impact. Business continuity is not expected to be affected. This incident highlights rising cyber risks for Indian businesses. Digital fraud cases have significantly increased. Financial institutions face growing vulnerabilities.
Published on: May 18, 2026
Muthoot Fincorp is gearing up for a monumental ₹4,000 crore IPO, seeking to ignite its expansion plans and harness the momentum of its current growth trajectory. With an optimistic eye on the future, the company is poised to navigate market fluctuations and continue its upward path. The funds raised will be pivotal in propelling further innovations and initiatives.
Published on: May 17, 2026
Bharti Enterprises will pare its stake in the company to 25% from 85% while 360 One Asset Management will sell its entire 15% holding and exit the venture, the companies announced on Sunday.
Published on: May 17, 2026
Muthoot FinCorp is preparing for its Initial Public Offering. The company plans to offer at least 10 percent of its stake. Funds raised will fuel business expansion. The gold loan NBFC sees significant growth opportunities in the sector. Muthoot FinCorp is also venturing into MSME lending and digital initiatives.
Published on: May 17, 2026
Prudential plc is set to acquire a 75% stake in Bharti Life Insurance Company Limited from Bharti Life Ventures Pvt Ltd. This strategic partnership aims to expand access to life and health protection solutions across India, leveraging the combined strengths of both organizations. The deal signifies a significant development in India's rapidly transforming life insurance sector.
Published on: May 17, 2026
A Nagpur consumer commission directed SBI to pay Rs 5 lakh to a widow. The payment is for an insurance claim filed six years late. The commission cited the widow's mental shock after her husband's sudden death. It stated the bank failed to inform customers of their rights. The bank's refusal was deemed a deficiency in service.
Published on: May 17, 2026
India is leading global digital finance discussions. Its digital public infrastructure is being studied worldwide. The Unified Payments Interface democratizes finance. The JAM Trinity has facilitated massive financial transfers and governance savings. Schemes like Pradhan Mantri Mudra Yojana support marginalized groups. These initiatives are driven by strong policy and political will. Modern finance must remain linked to the real economy.
Published on: May 16, 2026
The Haryana government has approved a CBI probe into five IAS officers concerning a Rs 590-crore IDFC First Bank fraud. This permission allows the CBI to question the officers. The investigation stems from alleged misappropriation of government funds. Searches have been conducted, and financial records seized. Sixteen individuals have been arrested so far in this significant financial scam.
Published on: May 16, 2026
Mumbai Police have filed a fresh FIR against former Yes Bank co-founder Rana Kapoor and investor Sudhir Valia for an alleged ₹1,000-crore fraud. The case involves the premature transfer of loan recovery rights and undervalued sale of mortgaged assets belonging to Sapphire Land Development Pvt Ltd.
Published on: May 16, 2026
Public sector banks are seeing their liquidity coverage ratios decline. This trend is driven by strong loan demand outpacing retail deposit growth. Banks are using their excess liquidity to fund loans. This situation is expected to improve with new regulatory norms starting in Q1 FY27. The changes will impact how certain business accounts are treated for liquidity calculations.
Published on: May 15, 2026
Larger banks are dominating the home loan market. Mid-sized private banks are struggling as competition squeezes profits. State Bank of India, ICICI Bank, HDFC Bank and Kotak Mahindra Bank are expanding their mortgage books using lower funding costs and wider reach.
Published on: May 15, 2026
Jana Small Finance Bank is poised for a significant capital infusion. TVS Venu Group plans to acquire a 10% stake. Several other investors are also lining up to invest. This marks Jana's first equity raise since going public. The bank's capital adequacy ratio remains strong. TPG Capital may partially reduce its holding.
Published on: May 15, 2026
Dubai's Emirates NBD has secured all necessary approvals for its significant investment in RBL Bank. This landmark deal, valued at approximately $3 billion, will see Emirates NBD acquire a majority controlling stake. The transaction is set to be completed soon. RBL Bank will operate as a foreign bank subsidiary. This marks a major cross-border investment in India's financial sector.
Published on: May 15, 2026
The Reserve Bank of India has fined IIFL Finance Rs 3.1 lakh for not returning surplus amounts from gold auctions to borrowers. Appnit Technologies faces a Rs 5.8 lakh penalty for KYC and PPI rule violations. These actions stem from regulatory compliance deficiencies identified during inspections. The RBI's move highlights its commitment to enforcing financial regulations.
Published on: May 15, 2026
Public sector banks in India saw loan write-offs fall to multi-year lows in fiscal year 2025-26. This positive trend is attributed to fewer new bad loans and better recovery of existing ones. Banks like Bank of Baroda and Punjab National Bank reported their lowest write-offs in years. This signifies a healthier balance sheet for these institutions.
Published on: May 15, 2026
Indian banks are financially stable. Bad loans are under control. Profit margins face pressure from recent interest rate cuts. Banks are focusing on low-cost deposits. The West Asia conflict poses potential future risks. Banks are preparing for new credit loss frameworks. Overall, the banking sector shows resilience.
Published on: May 15, 2026
The Central Bureau of Investigation has conducted searches in Chandigarh and Panchkula concerning a Haryana bank scam. Financial records and digital evidence were seized. Officials from IDFC First Bank and AU Small Finance Bank allegedly colluded with Haryana government public servants to misappropriate funds. Sixteen individuals have been arrested as the investigation is expedited.
Published on: May 15, 2026
The rise in prices will add to the growth momentum as it will give more borrowing power to those who are pledging gold. The uncertainties will not change the course of the gold loan market. And the price fluctuation won't matter since there is enough cushion. While disbursing loans, the loan to value (LTV) ratio is 75% but the ratio comes down when price increases. Over the last two years, the gold price have risen although recently a small correction has happened from the high, says George Alexander Muthoot, managing director, Muthoot Finance.
Published on: May 14, 2026
The Indian government is set to revolutionize the landscape for Regional Rural Banks with the introduction of a central tech hub dedicated to digital service enhancements and fortified cybersecurity.
Published on: May 14, 2026
War-risk insurance is now available for everyday consumers in the UAE. Insurers are offering new policies for cars, cargo, and travel. This expansion is driven by ongoing geopolitical tensions. Businesses are also reassessing their coverage for disruptions. Awareness of war-related risks is increasing among consumers and companies.
Published on: May 14, 2026
The Reserve Bank of India has cancelled registration certificates for several non-banking financial companies and core investment companies. This action follows surrender requests from entities like RR Holdings and Anjali Capfin. HDFC Holdings' certificate was cancelled as it is no longer a legal entity post-merger. Other companies surrendered their certificates due to exiting the NBFI business.
Published on: May 14, 2026
The Reserve Bank of India has cancelled the registration of 150 Non-Banking Financial Companies. The highest number of affected firms are registered in Delhi and West Bengal. These companies can no longer conduct financial business. This action impacts lending, leasing, and investment activities. The RBI has taken this step under the RBI Act, 1934.
Published on: May 14, 2026
Bank of Baroda plans to double its balance sheet over the next five years, betting on strong economic growth in India, rising credit demand and expansion of fee-based income streams. CEO Debadatta Chand said scale and capital strength are essential for Indian banks to compete globally, especially as discussions continue around creating larger state-run lenders.
Published on: May 14, 2026
India's major banks are disclosing more climate data but not using it for lending decisions. Physical climate risks like floods and heat are worsening, impacting bank portfolios. Few banks conduct climate stress tests or phase out coal lending. The Reserve Bank of India is providing data but not mandating disclosures. Delayed action risks financial instability and stranded assets for banks.
Published on: May 14, 2026
LIC Housing Finance announced a strong fourth quarter performance. Net profit rose 9.4% to ₹1,497 crore. This increase was driven by lower provisions for bad loans. The company's annual net profit also saw growth. A dividend of ₹10 per equity share has been recommended for FY26.
Published on: May 13, 2026
Shivalik has received Reserve Bank of India's (RBI) approval for this acquisition while it has sought clearance from the Registrar of Companies. The deal comprises share swaps and a cash payment, people familiar with the matter said.
Published on: May 13, 2026
The framework shifts regulatory focus away from ex-ante approvals toward compliance, transparency and consumer protection obligations at regulated banks facilitating the transactions.
Published on: May 13, 2026
The Reserve Bank of India has eased rules for non-bank entities facilitating outward remittances. Prior approval from the RBI is no longer required for these tie-ups. Authorised Dealer banks will now be solely responsible for compliance and customer verification. Customers will receive clear information on forex rates, costs, and credit times for their transactions.
Published on: May 13, 2026
Jio Allianz General Insurance has been incorporated. Jio Financial Services and Germany's Allianz each hold a 50 percent stake. The new company will offer general insurance, including health insurance in India. This follows Allianz's earlier exit from a joint venture with Bajaj Finserv. The incorporation marks a new chapter for insurance services in the country.
Published on: May 13, 2026
Jammu and Kashmir Bank has recorded its highest profit to date, soaring to Rs 2363.47 crore in FY-26. This achievement marks a significant recovery from past hardships, says bank chief Amitava Chatterjee.
Published on: May 13, 2026
Indian banks foresee robust corporate loan growth this fiscal year. Demand is surging from key sectors including renewable energy, infrastructure, and manufacturing. Major lenders like SBI and Bank of Baroda report strong loan pipelines. This expansion signals a positive outlook for business lending across the country. However, banks face liquidity challenges in sustaining this growth.
Published on: May 12, 2026
Canara Bank saw a 10% dip in net profit last quarter, mainly due to treasury losses. The bank is now prioritizing core income to maintain its net interest margins. Advances are expected to grow between 11-12% this year, while deposit growth is projected at 9-10%. Asset quality remains strong with a low slippage ratio.
Published on: May 12, 2026
Chandigarh has witnessed a major development as the Enforcement Directorate has apprehended two ex-IDFC First Bank staff amidst a sweeping inquiry into money laundering activities. The individuals are under scrutiny for allegedly embezzling a colossal Rs 590 crore from the Haryana government's coffers, reportedly utilizing ghost companies to make the money disappear.
Published on: May 12, 2026
India has launched its own maritime insurance pool. This initiative aims to support Indian maritime trade. Vedanta Sterlite, Balrampur Sugar, and Hoger Offshore are the first beneficiaries. The pool reduces reliance on foreign insurers. It offers financial protection against war perils and cargo risks. This move strengthens India's control over its maritime trade.
Published on: May 12, 2026
The Reserve Bank of India has made the tough call to withdraw the license of Sarvodaya Co-operative Bank, a decision rooted in the bank's failing capital and declining revenue capabilities. As of May 12, 2026, all banking activities will halt. In a bid to protect depositors, the bank's clients will be eligible for insurance claims capped at Rs 5 lakh.
Published on: May 12, 2026
Public Sector Banks have achieved a record net profit of Rs 1.98 lakh crore in FY 2025-26, marking their fourth consecutive year of strong financial performance. Improved asset quality, robust credit growth, and increased income fueled this historic achievement. Banks are now well-capitalized and poised to support India's economic expansion.
Published on: May 12, 2026
Bajaj Finserv aims to expand its market share and reach every Indian household within the next decade, leveraging India's economic growth and digital public infrastructure. The company, unfazed by competition, emphasizes innovation and a commitment to societal good, having already brought 25 million Indians into the formal financial system.
Published on: May 12, 2026
Indian savings accounts are evolving beyond mere transactional tools. With rising interest rates, institutions like IDFC FIRST Bank are offering higher yields, challenging the traditional view of savings accounts as low-return options. This shift encourages a more active approach to managing funds, highlighting the opportunity cost of holding 'idle' money.
Published on: May 12, 2026
Microfinance has become a double-edged sword, with substantial debt levels amassing to about ₹15,800 crore among borrowers juggling multiple loans. These individuals, often in over their heads, face the harsh reality of being ineligible for new loans. As they struggle with repayment, the risk of defaults looms large over the microfinance landscape.
Published on: May 11, 2026
The Supreme Court has once again dismissed the income tax department's review petitions concerning the taxation of software payments to non-residents. The court reiterated its March 2021 ruling that such payments are not royalty, as end-user licenses do not transfer copyright. This decision provides significant tax relief for Indian companies acquiring software.
Published on: May 11, 2026
