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Peak XV Partners has launched its first independent fund, securing $1.3 billion. This capital will support startups in India and across the Asia-Pacific region. The firm, formerly part of Sequoia Capital, will deploy funds through three separate vehicles. This new fund continues Peak XV Partners' two-decade legacy of backing innovative companies.
Published on: February 20, 2026
The bank has quantified the amount involved at ₹38.95 crore, representing the principal sacrifice under the resolution plan implemented for RCFL, people privy to the complaint details told ET.
Published on: February 20, 2026
State Bank of India is exploring partnerships with Japanese lenders for merger and acquisition financing following new regulatory guidelines. SBI chairman CS Setty indicated the bank has a lending ceiling of Rs 94,000 crore under these norms. Initially, SBI plans to approach these deals cautiously with smaller ticket sizes and simpler structures.
Published on: February 20, 2026
DFS Secretary M. Nagaraju urged banks to lower lending rates for small borrowers and businesses to 6-7%, aiming to boost credit penetration without incurring losses. He highlighted the need to bridge the significant gap in India's bank credit to GDP ratio, which stands at 57% compared to global benchmarks, to achieve the Vikshit Bharat 2047 vision.
Published on: February 20, 2026
PhonePe has introduced a new AI feature. Users can now use voice or text commands to complete tasks within the app. This simplifies payments and navigation. The feature uses Microsoft Foundry technology. It understands user intent for payments, purchases, and support. This launch coincides with India hosting the AI Impact Summit 2026. Big AI investments are also being announced.
Published on: February 20, 2026
The National Asset Reconstruction Company Ltd has taken the lead in the ongoing auction for BLA Power's distressed debt, presenting a bold offer of Rs 285 crore. This auction is being conducted through a Swiss Challenge, wherein lenders seek to maximize returns by inviting higher bids against the starting offer.
Published on: February 20, 2026
India Debt Resolution Co Ltd (IDRCL), the managing arm of the government-backed bad bank, has successfully resolved two accounts, distributing approximately Rs 330 crore to banks. This marks the bad bank's first recoveries since commencing operations in 2022, with resolutions for Metenere Ltd and Helios Photo Voltaic.
Published on: February 20, 2026
IndusInd Bank's top leadership is focused on rebuilding trust and strengthening the bank's operations. Decisions on strategic investors or mergers will be made by the board. The bank is prioritizing growth in affordable housing, gold loans, and MSME lending. Efforts are underway to improve liability generation and reduce costs. Technology and control gaps are being addressed, with completion expected soon.
Published on: February 19, 2026
Public sector banks are set to propose changes to the RBI's climate finance guidelines, citing a lack of incentives for green deposits. Lenders seek a reduction in the cash reserve ratio for green deposits and greater clarity on climate finance taxonomy. These proposals aim to boost the adoption of green finance initiatives.
Published on: February 19, 2026
Federal Bank is set to receive a substantial Rs 686 crore tax refund, marking the resolution of a long-standing tax dispute. This significant financial boost, covering assessment years 2012-13 and 2013-14, is expected to positively impact the bank's profitability in the upcoming quarter. The development follows recent orders from the Income Tax Appellate Tribunal.
Published on: February 19, 2026
ICICI Prudential Life Insurance faces a significant tax demand of Rs 984 crore. An appellate order upheld the demand, which relates to input tax credit reversal. The company plans to file a further appeal. Despite the large sum, ICICI Prudential Life states there is no immediate impact. This development concerns tax liabilities from July 2017 to July 2022.
Published on: February 19, 2026
India public sector banks: Foreign investors increased their stake in top state-run lenders including State Bank of India Ltd., Bank of Baroda, Canara Bank Ltd. and Punjab National Bank to the highest in at least a year, shareholding data of as Dec. 31 show.
Published on: February 19, 2026
PhonePe now allows fingerprint and facial recognition for UPI payments. This feature is for transactions up to Rs 5,000, offering a faster payment experience. The feature is currently available for Android users, with an iOS rollout planned.
Published on: February 19, 2026
Seven public sector banks are using generative AI for 32 new applications. These initiatives aim to boost efficiency and credit assessment. Ten banks have formal AI policies. The EASE 8.0 reforms encourage AI for complex tasks and faster decisions. Future reforms, EASErise, will focus on risk management and economic shock absorption. This technology push aligns with national financial goals.
Published on: February 18, 2026
Go Digit General Insurance has partnered with Anvayaa Kin Care. This collaboration provides Digit policyholders access to elderly care services at special rates. Services include medical emergency assistance and consultations with geriatric specialists. Virtual check-ins by health managers will also be available. This initiative aims to support caregivers and families.
Published on: February 18, 2026
The National Payments Corporation of India has teamed up with NVIDIA in a dynamic collaboration that promises to elevate the nation’s payment systems through the power of advanced AI. Targeting the construction of a strong and secure AI framework, this venture will enable expansive real-time payment processes while adhering to the principles of regulatory and data sovereignty.
Published on: February 18, 2026
Indian banks are moving to fixed-price contracts for ATM management. This change replaces older transaction-based models. Banks seek cost stability and assured service quality. This shift aims for predictable expenses and better performance from vendors. Many new ATM and cash recycler contracts are being awarded under this fixed-fee structure. This ensures consistent service and improved customer convenience.
Published on: February 17, 2026
Kotak Mahindra Bank has appointed Ramesh Iyer as an additional and independent director. This appointment is effective February 17, 2026. Dr. Ashok Gulati will retire as an independent director on March 5, 2026. DCB Bank has also approved Suhail Nathani's appointment as an independent director. This takes effect from February 18, 2026.
Published on: February 17, 2026
Muthoot Microfin is exploring inorganic growth by acquiring a majority stake in two non-banking financial companies. This move aims to expand its micro loan against property business. The company is diversifying its portfolio following recent RBI policy changes. Muthoot Microfin plans to significantly increase its secured lending. This strategy will reduce reliance on unsecured microfinance loans.
Published on: February 17, 2026
The Competition Commission of India has granted its approval for Axis Asset Management Company to take over the portfolio management services division of Axis Securities. This strategic acquisition strengthens the Axis group by streamlining its service offerings.
Published on: February 17, 2026
The Reserve Bank of India has proposed new rules for foreign exchange dealings. Authorised persons will get more flexibility in hedging exposures, managing balance sheets, and market-making. Reporting obligations will also be eased. These draft directions aim to provide greater freedom in dealing with foreign exchange products.
Published on: February 17, 2026
The Reserve Bank of India has updated its External Commercial Borrowings rules. Borrowing limits have been raised, and maturity requirements are now more flexible. These changes aim to support the growing trend of Indian companies raising funds through ECBs. The new norms offer greater ease for businesses seeking foreign capital.
Published on: February 17, 2026
Industry data up to December 2025 showed that banks sold Rs 24,814 crore retail non-performing assets (NPAs) to asset reconstruction companies (ARC). That compares with Rs 9,093 crore of retail bad loans sold up to September.
Published on: February 17, 2026
Banks are flagging a new ATM fraud to the Reserve Bank of India. This power-off fraud tricks systems into dispensing cash during withdrawals. Banks want clearer rules to avoid paying for these fraudulent transactions. Existing compensation guidelines are being exploited. This issue is causing significant disputes and financial losses for banks across India.
Published on: February 16, 2026
Bank of America's Bernard Mensah sees India as a prime investment destination, citing its growing middle class, strong institutions, and reformist government. The bank is increasing its India limits, anticipating more M&A activity fueled by regulatory liberalization and a focus on supply chain resilience. Despite geopolitical risks, Mensah believes capitalism's core architecture remains intact.
Published on: February 16, 2026
RBI Governor Sanjay Malhotra met with MSME representatives, wherein he stressed that better access to formal credit for MSMEs is a top priority. The sector is vital for India's economy. The RBI and government are taking steps to help. MSMEs are encouraged to formalize and use digital payments. Participants shared feedback on credit flow challenges.
Published on: February 16, 2026
In-Solutions Global Ltd has secured crucial authorization from the Reserve Bank of India. This approval covers online, offline, and cross-border payment aggregation. ISG now joins a select group of companies enabling unified merchant payment solutions. The company can manage domestic and international transactions, offering a comprehensive payment aggregation stack for businesses and financial institutions.
Published on: February 16, 2026
The era of digital payments is upon us, with UPI now the preferred method, leaving cash transactions behind. A fresh report calls attention to the potential of RuPay debit cards, stressing their importance in rural and semi-urban regions. Recommendations from the finance ministry include launching special merchant programs and simplifying small transactions.
Published on: February 16, 2026
When we started in 1976, George (Roberts), Jerry (Jerome Kohlberg Jr), and I were three people with $120,000 and a conviction that companies could be run better. It was a real risk. We had no fund and no brand, just the belief that ownership and incentives needed to be aligned, says Henry Kravis, cofounder, KKR.
Published on: February 16, 2026
Investment giant KKR sees immense potential in India, committing billions to its growing economy. Cofounder Henry Kravis highlights the increasing quality of Indian companies and the firm's expanding strategies, particularly in private credit. He emphasizes the critical need for better financing for small and medium-sized enterprises to fuel job creation and economic growth.
Published on: February 16, 2026
Non-banking finance companies (NBFC) can now factor in DLGs when setting aside buffers for potential loan losses, provided the guarantee forms an integral part of the loan arrangement, the RBI said last week.
Published on: February 15, 2026
Religare Enterprises Ltd (REL), backed by the Burman family, has approved a plan to split its financial services and insurance businesses into two separate listed companies. REL will retain its stake in Care Health Insurance Ltd, while the financial services operations will move to a subsidiary, Religare Finvest Ltd (RFL).
Published on: February 15, 2026
Three senior bankers at Raine Group’s India unit, including country head Gaurav Mehta, are set to leave the boutique advisory firm to start a new investment banking venture, according to people familiar with the matter. Managing directors Naveen Asopa and Girish Punjabi are also departing.
Published on: February 15, 2026
The RBI approval, communicated on February 13, 2026, is in connection with the definitive agreements executed on March 20, 2025, under which Bain Capital committed to invest approximately Rs 4,385 crore to acquire an 18 per cent stake on a fully diluted basis through preferential allotment of equity shares and warrants at a price of Rs 236 per share, Manappuram Finance said in a statement.
Published on: February 14, 2026
Two banks have already shown interest. Bank of Baroda and ICICI Bank's applications have come, Axis Bank's is a work-in-progress, and a consortium led by Union Bank and Daiichi is also exploring participation, PFRDA chairman Sivasubramanian Ramann said.
Published on: February 13, 2026
Mizuho Bank aims to build a Japan-India investment corridor using its banking strength and the Avendus Capital acquisition, as CEO Masahiko Kato highlights rising Japanese investor interest and India’s growing strategic appeal.
Published on: February 13, 2026
The Reserve Bank of India is introducing new rules to make credit more accessible. Banks will no longer need 'no dues' certificates from borrowers. A quarter of new bank branches will open in smaller towns. Lenders must maintain a high credit-deposit ratio in rural areas. These changes aim to boost credit flow and financial inclusion across India.
Published on: February 13, 2026
Where bank financing is for the purpose of refinancing of existing term loans, it shall be ensured that the financing is only for completed projects that have received a completion certificate (CC), occupation certificate (OC). Further lending to a REIT by a bank shall only be by way of loans not involving bullet or ballooning principal repayments, the RBI said.
Published on: February 13, 2026
The Reserve Bank of India has updated rules for acquisition financing. Banks can now offer loans for stake increases above 26% to 90%. Stricter financial criteria apply to borrowers. The RBI also increased the amount individuals can borrow against shares to Rs 1 crore. New limits are set for loans against securities, effective April 1, 2026.
Published on: February 13, 2026
Indian banks can now finance company acquisitions. The Reserve Bank of India has allowed lenders to fund up to 20% of their capital for these deals. This opens new credit growth avenues for Indian banks. They can lend up to 75% of the acquisition value for both listed and unlisted companies.
Published on: February 13, 2026
Capital Small Finance Bank is set for major growth. The bank aims to double its business to Rs 16,000 crore by 2029. This expansion will be driven by a projected annual growth of 23 to 24 percent. The bank will continue to focus on secured lending, with MSME loans leading the way.
Published on: February 13, 2026
The Reserve Bank of India has approved Sanjay Agarwal's re-appointment as Managing Director of AU Small Finance Bank. This marks his third term, effective April 19. The approval comes as the bank aims to become a universal lender. AU Small Finance Bank is currently the largest small finance lender in India.
Published on: February 13, 2026
Public sector banks have significantly increased their share in credit card spending, reaching 22.2% in December 2025. This growth is attributed to higher usage by existing cardholders, robust festive demand, and expanded reach into salaried segments, particularly driven by large PSBs like SBI Cards. The integration of RuPay credit cards with UPI has also fueled this expansion.
Published on: February 13, 2026
HDFC Bank and two global financial firms are exploring buying a stake in CreditAccess Grameen. Axis Bank is also in talks. CreditAccess India BV, the owner, is looking to sell its majority stake. This move aims to provide an exit for patient investors. The microfinance market is showing signs of recovery. CreditAccess Grameen is financially strong and poised for growth.
Published on: February 12, 2026
Recent regulations from the Reserve Bank of India could dampen the momentum of credit life insurance, a product often paired with retail loans. The new guidelines prohibit banks from linking insurance policies directly to loan approvals, a move designed to enhance transparency and safeguard consumers from potential misinformation.
Published on: February 12, 2026
The Reserve Bank of India has proposed draft guidelines directing banks and housing finance companies to follow stricter rules while using recovery agents. Banks must give borrowers written details of assigned agents, avoid setting targets that may lead to harsh practices, and not engage agents if a grievance is already filed.
Published on: February 12, 2026
Payment digitisation rose further in the six months to September 2025, extending a year-long trend, the Reserve Bank of India (RBI) said. The RBI’s Digital Payments Index (RBI-DPI) stood at 516.76 in September 2025, up from 465.33 a year earlier and 493.22 in March 2025.
Published on: February 12, 2026
Kotak Alternate has successfully secured Rs 3,900 crore in its inaugural fundraising round, making it a significant milestone as the largest first-time fundraising by an Indian platform from local investors. This venture will target promising stable income avenues and growth chances, directing funds towards cash-flow-positive assets and mid to large-scale enterprises, with an emphasis on safeguarding capital.
Published on: February 12, 2026
Liquidity, which was tight just two months ago, has swung into its largest surplus in six months. The RBI has stayed away till now from draining any short-term cash, prompting analysts to ask whether the authority is allowing easier financial conditions to enforce the transmission of earlier rate cuts to the broader economy.
Published on: February 12, 2026
Canara Bank is selling ₹577 crore debt of Supreme Housing and Hospitality. A Swiss challenge auction is planned. The bank has also filed a petition to restart insolvency proceedings. This follows a failed one-time settlement offer by the company. The auction aims to gauge investor interest. Bids are due February 21. An electronic auction is scheduled for March 13.
Published on: February 11, 2026
