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Life Insurance Corporation of India recorded over ₹1,100 crore in inflows on the first day after GST was removed from individual traditional life insurance policies. This surge reflects pent-up demand, as agents and customers had delayed purchases anticipating the tax change. The industry expects lower prices to increase annual premium commitments, despite a recent trend of rising ticket sizes.
Published on: September 26, 2025
The Finance Ministry has advised all financial institutions, including the RBI, to cease wasteful festival gift expenditures ahead of Diwali to promote fiscal discipline. This directive, based on a DPE advisory, instructs government entities and CPSEs to avoid spending on gifts for festivals, emphasizing judicious use of public resources.
Published on: September 26, 2025
The RBI has issued standardized guidelines for banks to settle claims of deceased customers, aiming to eliminate divergent practices. Payments to nominees or survivors will not require legal documents like succession certificates for any account amount.
Published on: September 26, 2025
The RBI has issued revised norms mandating banks to settle claims on deceased customers’ accounts and lockers within 15 days, with compensation for delays. Simplified procedures apply for accounts below ₹15 lakh (₹5 lakh for co-op banks), while higher amounts may require additional documents.
Published on: September 26, 2025
The RBI has fined Muthoot FinCorp ₹2.7 lakh for not complying with Internal Ombudsman norms. An inspection revealed the company lacked a system to auto-escalate partly or fully rejected complaints. The penalty addresses regulatory compliance deficiencies and does not affect customer transactions, with further RBI action possible.
Published on: September 26, 2025
Bank of Baroda has received approval from IFSCA to operate as a Trading-Cum-Clearing Member on the India International Bullion Exchange (IIBX) at GIFT City. This strategic move positions its International Banking Unit as a key hub for bullion trading, aiming to boost liquidity and efficiency in India's bullion market.
Published on: September 26, 2025
Employees' State Insurance Corporation saw growth in July 2025. Over 20 lakh new subscribers joined the scheme. More than 31,000 new establishments are now under ESIC. Almost half of the new members are under 25 years old. Over 4 lakh women enrolled in July. Eighty-eight transgender employees also registered. This shows ESIC's commitment to social security for all.
Published on: September 26, 2025
Non-bank lenders are increasing their hold on the personal loan market. Data shows NBFCs' share in new personal loans has risen significantly. This growth is driven by fintech companies. Meanwhile, banks' share has decreased. The personal loan market is now over fifteen lakh crore rupees. NBFCs are more flexible, attracting borrowers banks might overlook.
Published on: September 25, 2025
The Reserve Bank of India has announced new guidelines for digital payment security. Two-factor authentication will become mandatory for all transactions. Banks can now use biometrics and other methods for verification. Small-value transactions are exempt from strict authentication. These rules aim to boost security and will be effective from April 1, 2026.
Published on: September 25, 2025
Credit card issuances in India reached a seven-month high in August, driven by lenders like HDFC Bank and Axis Bank preparing for increased festive season demand. Nearly 700,000 new cards were issued, bringing the total active cards to 112.3 million.
Published on: September 25, 2025
Bharti Enterprises and Warburg Pincus's joint venture plans to raise 40 billion rupees ($451 million) by issuing bonds in the next quarter, offering an 11%-12% coupon. Kotak Investment Bank is arranging the deal, expected to draw interest from mutual funds and NBFCs. This bond issuance follows a trend of firms utilizing the corporate bond market to fund significant acquisitions.
Published on: September 25, 2025
The RBI will implement new digital payment authentication rules from April 1, 2025, allowing alternatives to SMS OTP while keeping two-factor authentication mandatory. Options include passwords, PINs, tokens, or biometrics.
Published on: September 25, 2025
Standard Chartered will cap its India branch network at 100, focusing on larger format branches and digital services. The bank aims to commence dollar clearing at GIFT City in October and targets a 10% loan growth in the corporate segment by FY26. It is also concentrating on the 'Global Indian' segment and expanding its wealth management services.
Published on: September 25, 2025
FM Nirmala Sitharaman emphasised the critical role of banks in driving India's growth amid global uncertainty, urging them to maintain strong balance sheets for infrastructure, industry, and MSME investments. She highlighted the need for partnerships with NBFCs to extend credit to underserved sectors.
Published on: September 25, 2025
IndiGo and SBI Card have partnered to introduce co-branded premium credit cards, IndiGo SBI Card and IndiGo SBI Card ELITE, under the IndiGo BluChip loyalty program. Cardholders will earn rewards on IndiGo's offerings, hotel bookings, and travel expenses. This collaboration aims to provide value, convenience, and benefits to frequent flyers, transforming everyday spending into rewarding travel experiences.
Published on: September 25, 2025
S&P Global Ratings has assigned Bank of Maharashtra a 'BBB-' rating with a 'Stable' outlook, highlighting the bank's strong financial health and governance. This investment-grade rating, three notches above Fitch's, is expected to lower funding costs and improve access to overseas capital markets. The rating reflects BoM's robust capitalization, solid funding, and healthy liquidity.
Published on: September 25, 2025
Navratri ecommerce sales, coupled with substantial GST cuts on major consumer goods, triggered an extraordinary surge in digital transactions. Data reveals a near 10-fold increase in electronic payments, reaching Rs 11.31 lakh crore, driven by heightened consumer sentiment and festive discounts. RTGS transactions saw the biggest jump, reflecting increased spending on high-value items like cars.
Published on: September 25, 2025
Anand Piramal assumes the role of chairman at Piramal Finance, succeeding his father, Ajay Piramal, after the merger of Piramal Enterprises. The board also accepted the resignations of Ajay and Swati Piramal, with Ajay continuing to lead Piramal Group. Jairam Sridharan will be the MD & CEO, while new independent and non-executive directors have been appointed, pending shareholder approval.
Published on: September 24, 2025
Banks plan to launch a common portal to monitor consortium loans, sharing data such as audit reports, borrower responses, stock statements, and limit allocations. The platform, backed by 12 public and five private banks, aims to improve coordination, oversight, and post-sanction monitoring. Discussions include leveraging the Secondary Loan Market Association for secure, retrievable information throughout the loan lifecycle.
Published on: September 24, 2025
An RBI bulletin said NBFCs remain robust, with strong credit growth led by vehicle loans and gold loans, supported by higher vehicle sales and gold prices. Their credit-to-GDP ratio is rising, driven by industry and retail lending. While profitability and asset quality remain healthy, NBFCs must strengthen cyber resilience and adapt to AI-driven opportunities, alongside reliance on bank borrowings and debentures.
Published on: September 24, 2025
A Reserve Bank study highlights that user experience in India’s FinTech sector is shaped by app market share, updates, and data privacy, with payment and lending apps preferred over banking apps. Analysis of 5.69 million reviews shows polarised feedback—87% being one- or five-star.
Published on: September 24, 2025
New-to-credit (NTC) borrowers slowed in Q1FY26, making up 16% of loan originations, down from 18% a year ago, as lenders took a cautious stance, TransUnion Cibil reported. Credit-active consumer growth fell to 9% versus 15% last year, with slight stress in repayments. While youth credit demand declined, semi-urban and rural lending helped overall portfolio growth.
Published on: September 24, 2025
Galaxy Health Insurance aims for significant growth. The company targets Rs 450 crore in premiums by fiscal year 2027. It anticipates breaking even within four years. Since April, premiums have reached Rs 40 crore. The insurer focuses on wellness and simplified claims. They plan to expand in West Bengal.
Published on: September 24, 2025
India's festive season coincides with GST 2.0. Banks and NBFCs offer credit deals to boost spending. Lower prices and tax reforms are expected to increase credit growth. Lenders are cautious about overextension risks. The streamlined GST aims to make essentials cheaper. Experts are analysing the impact of these changes on the Indian economy. The RBI is monitoring unsecured lending.
Published on: September 24, 2025
India is planning to allow more foreign investment in Public Sector Banks. The current limit is 20%. The government wants to strengthen these banks. This will help them raise more capital. The government will keep at least 51% stake. This ensures the banks remain public. The goal is to make them globally competitive.
Published on: September 24, 2025
For the first time in fiscal year 2026, banking system liquidity has moved into deficit due to tax outflows. The Reserve Bank of India is infusing funds to stabilize overnight rates. Tax payments, including GST and advance taxes, caused the shift. The RBI conducted variable rate repo auctions to manage rates.
Published on: September 23, 2025
Sumitomo Mitsui Banking Corporation (SMBC) has increased its stake in Yes Bank from 20% to 24.22% through an off-market acquisition, becoming the largest shareholder. This move follows SBI's divestment of a 13.18% stake to SMBC. Yes Bank's credit ratings have also been upgraded by multiple agencies, reflecting its improved financial health and governance since the 2020 reconstruction.
Published on: September 23, 2025
IndusInd Bank has appointed Viral Damania as its new chief financial officer, filling the vacancy left by Gobind Jain's resignation in January. This is a key appointment under the recently appointed CEO, Rajiv Anand. Damania brings 27 years of experience from Bank of America, Citibank, and PricewaterhouseCoopers.
Published on: September 22, 2025
Mumbai Police's EOW is investigating financial irregularities at IndusInd Bank. Former CFO Gobind Jain sought more time to submit documents. He claims he flagged the lapses. The EOW has also summoned former CEO Sumant Kathpalia and ex-deputy CEO Arun Khurana. The probe focuses on unhedged Japanese yen contracts. Allegedly, this led to inflated profits and delayed loss recognition.
Published on: September 22, 2025
India's banking system liquidity surplus is poised to recover soon, analysts predict. Government spending and bond redemptions are expected to counteract the impact of recent tax outflows, which had reduced the surplus to its lowest level since late March. Further support will come from a phased reduction in the cash reserve ratio, beginning in early October.
Published on: September 22, 2025
Reserve Bank of India cancelled Datta Finance's registration. The action follows violations of digital lending guidelines. Datta Finance outsourced core functions. These functions included customer sourcing and loan recovery. KinCash, DoLoan, and ZestCash were the service providers. The company can no longer operate as a non-banking financial institution. The cancellation is due to code of conduct violations.
Published on: September 22, 2025
Jio Payments Bank has introduced 'Savings Pro,' enabling account holders to earn up to 6.5% on surplus funds. Customers can set a threshold and automatically invest excess funds into low-risk overnight mutual funds via the JioFinance app. The service offers instant redemption options and complete transparency with no hidden charges.
Published on: September 22, 2025
IndusInd Bank has named Viral Damania as its new Chief Financial Officer, effective September 22, 2025. This appointment leads to Santosh Kumar stepping down from his additional role as Special Officer but continuing as Deputy CFO. Damania brings over 27 years of experience from banking and professional services, including his recent role as CFO for Bank of America India.
Published on: September 22, 2025
Boston Consulting Group's report reveals a moderation in global payments revenue growth to 4% annually over the next five years, projecting a rise to $2.4 trillion by 2029. Real-time A2A payments are gaining traction, particularly in markets like India and Brazil, while agentic AI is poised to significantly influence e-commerce spending.
Published on: September 22, 2025
KKR, buoyed by its successful Max Healthcare exit, is expanding its hospital investments in South India. Its Kerala-based Baby Memorial Hospital (BMH) has acquired a majority stake in Meitra Hospital for ₹1,000-1,200 crore and is considering acquiring Star Care Hospital.
Published on: September 21, 2025
Banks in India are now using AI avatars for loan recovery. These virtual agents make video calls and send messages to borrowers. This method is cheaper and more efficient than using human agents. Private banks are adopting this technology. Public sector banks are also considering it. The goal is to improve loan repayment rates while adhering to RBI guidelines.
Published on: September 21, 2025
Yes Bank anticipates a potential rating upgrade following SMBC's significant investment, signaling confidence in the bank's resurgence. This strategic partnership is expected to bolster Yes Bank's capital-raising capabilities and drive business expansion through network synergies. The bank aims to improve profitability and achieve its financial targets, focusing on strategic lending segments.
Published on: September 21, 2025
India's financial landscape is changing. Borrowers are finding new ways to raise funds beyond bank loans. Total resources raised have more than doubled in five years. Non-Banking Financial Companies are now a major lending source. Equity financing is linked to stock market conditions. Foreign capital sources now account for a smaller share.
Published on: September 21, 2025
Good news for Public Sector Banks. PSBs outpaced Private Banks in FY25. Advances grew by 12.2 percent. This is the first time since March 2010. PSBs are retaining deposit market share. They are focusing on technology and third-party products. Recoveries from written-off accounts boosted profitability. Margins are expected to stabilise. This is due to CRR cuts.
Published on: September 20, 2025
IIFCL is actively pursuing initiatives like green transition for MSMEs and a climate risk assessment framework to lower costs. They are collaborating with insurance companies to integrate insurance more closely with infrastructure projects. New products are expected to launch after September 30, with a focus on reducing the cost of funds and promoting green power accessibility for MSMEs.
Published on: September 19, 2025
Yes Bank is planning to enter wealth management after partnering with Sumitomo Mitsui Banking Corporation. India's wealthy population is growing, creating opportunities. Yes Bank will compete with major private banks and non-bank players. The bank aims to finalize a joint strategy with SMBC in three years. They will focus on scaling operations and new growth areas.
Published on: September 19, 2025
Dhruva Capital Services Ltd is set to merge with Vector Finance, marking its entry into the microfinance sector. The merger, approved by Dhruva Capital's board, will occur through a share swap. Vector Finance, with substantial assets and revenue, operates across six states and disbursed significantly to numerous customers in FY'25, promising expansion and reduced borrowing costs.
Published on: September 19, 2025
A revised framework by UIDAI will now enable cooperative banks to offer Aadhaar-enabled payment services, expanding digital financial services to rural areas. This initiative, developed in consultation with key stakeholders, addresses compliance and cost challenges, allowing state cooperative banks to register with UIDAI.
Published on: September 19, 2025
The Reserve Bank of India is urging banks to reduce fees on consumer products like debit cards and late payments, potentially impacting billions in revenue. This push follows increased retail lending by banks and concerns about the impact of high fees on low-income customers. The RBI's move aims to address fee disparities and promote fair banking practices.
Published on: September 19, 2025
The non-life insurance sector in India continued to experience a slowdown in premium growth in August due to a decline in crop insurance and a softer market for passenger vehicles, Care Edge Ratings said in a report.
Published on: September 19, 2025
The Hyderabad NCLT has approved a ₹2,400 crore OTS plan by Gayatri Projects' promoters, resolving ₹8,100 crore in dues to lenders led by Canara Bank. With 97% lender approval, the promoters have 90 days to pay ₹750 crore, cover bank guarantee invocations, and allocate ₹450 crore from arbitration claims.
Published on: September 18, 2025
Motilal Oswal Financial Services resolved a case with Securities and Exchange Board of India. The issue involved suspected front-running of trades for a major client. The firm settled by paying Rs 34.85 lakh in charges. Securities and Exchange Board of India initiated the investigation. It was related to trades by the Chaturvedi Group.
Published on: September 18, 2025
Credit growth in the banking sector surpassed deposit growth in early September, although it lagged behind the previous year's expansion. This slowdown is attributed to factors like muted private sector capital expenditure and reduced lending to corporates. Lenders anticipate a surge in retail credit demand during the upcoming festival season, with overall credit growth projected at 11-12% for FY26.
Published on: September 18, 2025
NABFID is urged to evolve into a system-shaping entity by offering advisory services for early-stage infrastructure projects, particularly in urban infrastructure and water management. With Rs 2 trillion in loan sanctions already, the focus should shift to making ambitious projects bankable, developing expertise in priority sectors, and creating new investment instruments.
Published on: September 18, 2025
Sumitomo Mitsui Banking Corporation (SMBC) has finalized its acquisition of a 20% stake in Yes Bank, becoming its largest shareholder. This significant cross-border investment includes the appointment of two SMBC directors to Yes Bank's board. Yes Bank aims to leverage SMBC's global expertise to enhance its corporate banking and cross-border solutions, while also receiving improved credit ratings.
Published on: September 18, 2025
