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Theodoros Kokkalas, chief operating officer of ERGO International said greater predictability would help insurers make long-term business plans. "We make plans, and today making long-term plans is like science fiction in the dynamic environment that we live in," he said. While India's general insurance industry is struggling to bring its combined ratio below 100%, with the industry average at 110-115% and ERGO is targeting a ratio of 80-85%, Kokkalas said there was no standard timeline for a market to reach that level.
Published on: October 16, 2026
Karur Vysya Bank (KVB) aims for 18-20 percent growth in total advances for the fiscal year 2027. The bank focuses on retail, agriculture, and MSME lending, which constitutes 86 percent of its advances. Though corporate lending will be increased, high-value loans will be capped at 20 percent going forward. Gold loans are expected to see significant growth supported by lower borrowing costs.
Published on: October 16, 2026
Yes Bank is examining the Supreme Court ruling regarding the write-down of Additional Tier-1 bonds. The Supreme Court upheld a prior Bombay High Court decision that quashed the bank's March 2020 action. Following the judgment, the bank is considering its legal options and future steps. The Reserve Bank of India and Yes Bank had previously appealed the High Court's ruling.
Published on: October 16, 2026
The Reserve Bank of India has approved the merger of Emirates NBD Bank's Indian branches with RBL Bank. This amalgamation will officially take effect on December 1, 2026, according to the central bank's announcement. Emirates NBD Bank initially opened its first Indian branch in Mumbai in 2017, expanding later to Gurugram and Chennai. The Finance Ministry had previously approved Emirates NBD's acquisition of a significant stake in RBL Bank.
Published on: October 16, 2026
Federal Bank has appointed Rajesh Varrier as a non-executive independent director on its board. This decision follows the announcement of the bank's impressive financial results for the September quarter. Varrier serves as president of global operations at Cognizant and brings extensive management experience. The bank reported a significant rise in net profit and net interest income in comparison to last year.
Published on: October 16, 2026
Yes Bank expects its core capital ratio to decline by 250 basis points following the Supreme Court's decision to overturn the write-off of Rs 8,400 crore worth of AT1 bonds during its 2020 rescue. S&P Global Ratings expects the bank to absorb the impact without an immediate effect on its credit ratings.
Published on: October 16, 2026
The strategic sale of IDBI Bank to Canada’s Fairfax Financial Holdings is expected to be completed by the end of FY27, subject to RBI approval, DIPAM Secretary Arunish Chawla said. Fairfax will acquire a 60.72% stake from the government and LIC for about Rs 53,000 crore, in what the government described as a major step in the bank’s long-delayed privatisation.
Published on: October 16, 2026
YES Bank’s ₹8,415-crore AT1 bond write-off, carried out during its 2020 reconstruction, has returned to the spotlight after the Supreme Court upheld a ruling quashing the decision. The verdict could have implications for the lender’s capital position, earnings and bondholders, with the eventual financial impact depending on how the ruling is implemented. The development comes as YES Bank continues its recovery and Japan’s SMBC holds a 24.9% stake, making the outcome significant for the bank, its investors and its future financial position.
Published on: October 16, 2026
India's Balance of Payments (BoP) is turning positive, but it is likely to remain lower than earlier expectations as elevated oil prices and an expanding non-oil, non-gold deficit weigh on the external trade position, according to a research report by ICICI Bank Global Markets.
Published on: October 16, 2026
Prem Watsa, chairman of Fairfax Financial, has acquired a major stake in IDBI Bank, emphasizing India's economic growth potential. He believes that India will experience significant economic advancements over the next decade. Watsa expressed confidence in the bank's financial recovery and potential for expansion after overcoming past challenges. He assured that the focus will be on maintaining the lender's fiscal integrity and staff welfare.
Published on: October 16, 2026
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts ₹8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank is now obligated to repay the bonds along with accrued interest.
Published on: October 15, 2026
Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and reduce its ownership over 15 years. The Reserve Bank of India has allowed Fairfax to decrease its stake to 26% eventually. Fairfax has two years to decide the future of CSB Bank, including merger or sale options. The group aims to transform IDBI Bank into a comprehensive financial services entity.
Published on: October 15, 2026
Canadian billionaire Prem Watsa's bet on IDBI Bank is backed by faith in the Indian economy, he told Mohit Bhalla and Sruthijith KK in a phone interview. The government Wednesday approved the divestment of a majority stake in IDBI Bank to Watsa's Fairfax Financial Holdings. Watsa, 76, who was born near Hyderabad and studied at IIT-Madras, migrated to Canada in the 1970s. Started by him as an insurance company, Fairfax Financial now has assets of over $100 billion. Edited excerpts from the interview are in the copy.
Published on: October 15, 2026
Canara Bank and Indian Bank reported a total corporate loan pipeline of ₹1.10 lakh crore between them. The banks are experiencing steady credit demand from corporate clients amid rising bond yields. Canara Bank expects to maintain around 19% credit growth, while Indian Bank targets a 14-15% growth rate. Both banks highlighted the importance of improving deposit growth to narrow the credit-deposit gap.
Published on: October 15, 2026
Yes Bank is facing a significant reduction in its Common Equity Tier-1 capital buffer following a recent Supreme Court ruling. The court reversed the earlier write-down of over $800 million related to additional Tier-1 bonds. Analysts suggest that this verdict could lower Yes Bank's CET1 ratio to approximately 11-11.5%. The bank is currently analyzing the judgment to assess the final impacts on its financial standing.
Published on: October 15, 2026
Taking out a loan to finance a bike can streamline payments and help you manage your budget effectively. Various elements like your credit score and earnings can impact the interest rates offered by lenders. It's crucial to think about the down payment and the duration of the loan to keep expenses low. Utilizing EMI calculators can provide clarity on potential repayment amounts, enabling informed choices.
Published on: October 15, 2026
Nandan Nilekani emphasizes the importance of expanding the Account Aggregator framework to include self-employed individuals. He highlights the need for access to formal credit for gig workers and street vendors. By incorporating diverse financial information sources, the framework could better assess creditworthiness. Nilekani also stresses a sustainable business model for Account Aggregators to ensure sustainability. This expansion aims to create a more inclusive digital financial infrastructure in India.
Published on: October 15, 2026
South Indian Bank is developing a proprietary tech platform to launch its credit card business next fiscal year. The bank aims to increase the share of retail, agriculture, and MSME loans to 65% from 61% in three years. A significant focus will be placed on growing income from RAM loans rather than lower-yielding corporate loans.
Published on: October 15, 2026
India's balance of payments showed a surplus of $45.4 billion in August, despite a current account deficit. Net transfers, which include remittances, increased to $12.8 billion compared to the previous year. The capital account saw inflows of $50.6 billion, significantly higher than last year's $0.5 billion. Central bank measures to attract capital inflows have resulted in substantial foreign-exchange deposits.
Published on: October 15, 2026
IRDAI is working on a Public Insurance Registry to enhance insurance data sharing among stakeholders. The beta version is scheduled for January 2028, as announced by Chairman Ajay Seth. This digital platform aims to standardise and facilitate the exchange of insurance information. Feedback from industry participants is requested to improve the proposed system, with an extended deadline of October 17, 2026.
Published on: October 15, 2026
YES Bank is currently reviewing the Supreme Court decision that overturned its AT1 bond write-off. This ruling follows the Bombay High Court's earlier decision issued in January. The bank has stated that it will make necessary disclosures in light of the judgment. YES Bank shares experienced a significant drop of 14.43% following this news. The bank maintains it has complied with all regulatory disclosure requirements during the legal proceedings.
Published on: October 15, 2026
Only about 15 per cent of India's population and businesses are estimated to have effective insurance coverage, a figure that could double to 30 per cent over the next five years, Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth said on Thursday, highlighting the large protection gap in the country.
Published on: October 15, 2026
India's insurance regulator, the IRDAI, plans to implement reforms for insurance sales to improve the market. Proposed changes include capping commissions and tightening expense limits to reduce costs and mis-selling. Ajay Seth stated the intention is to avoid disruption within the industry during this transition period. Insurers and distributors have expressed concerns regarding the potential impacts on business models and job security.
Published on: October 15, 2026
India's banking system deposits hit a record high, reaching approximately 284 trillion rupees by September 2023. The increase was primarily driven by a discounted swap window introduced by the Reserve Bank of India. This scheme attracted around $133 billion in foreign-currency deposits from June until its closure in August. Additionally, banks took measures to bolster their funding buffers leading up to the quarter's end. Overall, deposits rose by 8.
Published on: October 15, 2026
Fairfax Financial Holdings plans to bring its interests in Go Digit and IIFL Capital Services under IDBI Bank, creating a financial-services group spanning banking, insurance, investment banking and wealth management. The proposed restructuring follows Fairfax's selection as strategic buyer for a 60.72% stake in the Indian lender for about Rs 52,878 crore.
Published on: October 15, 2026
In recent months, foreign investment in India’s financial sector has grown significantly, resulting in major acquisitions. Fairfax Financial Holdings secured a large stake in IDBI Bank, while Mitsubishi UFJ Financial Group poured resources into Shriram Finance. Additionally, Emirates NBD established a notable presence in RBL Bank. Such initiatives promise to alter the competitive dynamics and improve service capabilities in the Indian banking sector.
Published on: October 15, 2026
Fairfax Financial Holdings plans to bring its Indian financial investments under IDBI Bank after India's approval of a Rs 52,878 crore ($5.56 billion) deal for a 60.7% stake in the lender. The proposed restructuring would bring together banking, insurance, investment banking and wealth management, subject to regulatory approvals.
Published on: October 15, 2026
The Supreme Court has confirmed the Bombay High Court's verdict that invalidated YES Bank's write-off of AT1 bonds totaling Rs 8,415 crore, part of a March 2020 restructuring plan. Investors, both institutional and retail, took their grievances to the High Court, leading to YES Bank, the RBI, and the Centre appealing this outcome. This ruling now grants bondholders a pathway to recover their investments that were previously at risk.
Published on: October 15, 2026
Prem Watsa’s Fairfax Financial will acquire a 60.72% stake in IDBI Bank for Rs 52,878 crore, marking India’s largest cross-border banking deal. The Canadian investor plans to build a financial services powerhouse by combining banking with insurance, wealth management and capital markets. But regulatory approvals, overlapping ownership with CSB Bank and execution risks could test his biggest India bet.
Published on: October 15, 2026
ICICI Life Insurance plans to recruit 20,000 women advisors across India by the end of FY2027 under its Narishakti initiative. Women currently account for around 32% of its advisor base but contribute 45% of agency business. More than 78,000 women advisors were associated with the insurer as of September 30, 2026.
Published on: October 15, 2026
Canara Bank has a corporate loan pipeline totaling Rs 47,000 crore amid rising demand from Indian companies. The bank expects credit growth to remain above 19% year-on-year for the upcoming quarter. It reported significant growth in deposits and loans due to a strategy focused on non-resident Indian customers. Management anticipates maintaining a return on assets above 1% despite future provisioning requirements.
Published on: October 15, 2026
Sonali Sharma has been appointed as managing director and head of legal at Barclays India. She previously served as head of legal and general counsel at Bank of America. Her career began as a trainee at Mulla & Mulla before moving to Juris Corp. Sharma has extensive experience in capital markets and risk management. Several banks are bolstering their legal teams in response to regulatory changes.
Published on: October 15, 2026
The sale of a controlling stake in IDBI Bank for around $6 billion is being viewed a pivotal moment in India's banking reform journey. The transaction received attention from a variety of global investors, highlighting their confidence in the nation's financial ecosystem. Experts predict this move may open doors to increased deal-making opportunities in the future.
Published on: October 15, 2026
Fairfax Financial Holdings will acquire a majority stake of 60.72% in IDBI Bank for ₹52,878 crore. This acquisition marks a significant moment in the government's divestment efforts, as it represents strategic restructuring. The deal aims to strengthen the banking ecosystem and support the government's disinvestment target for the fiscal year. IDBI Bank's financial position has improved significantly, with reduced non-performing assets.
Published on: October 15, 2026
Around 20 financial institutions were affected by cyberattacks earlier this month, with hackers allegedly exploiting stolen partner-bank credentials and vulnerabilities in payment APIs to siphon off funds. Following the attacks, CERT-In issued an advisory urging banks, NBFCs and fintech firms to suspend compromised interfaces, strengthen transaction safeguards and tighten customer verification.
Published on: October 14, 2026
In Maharashtra, insurers' liability could be capped at Rs 1,540 crore before the state government takes over claims beyond that level. The state has declared drought-like conditions in 265 talukas, raising concerns over this year's losses.
Published on: October 14, 2026
Analysts believe this acquisition holds considerable potential, greatly enhancing Fairfax's branch network and deposit portfolio in India, paving the way for a diversified financial ecosystem.
Published on: October 14, 2026
A merger of the two lenders is emerging as the most likely option, potentially allowing the Canadian investor to consolidate its banking interests under a single licence, sources said.
Published on: October 14, 2026
Published on: October 14, 2026
Stocks Sena, a venture co-founded by Krishna Singhal and Pushan Jain, has unveiled an innovative research platform aimed at empowering Indian investors. This website equips users with financial data and stock screening capabilities, granting access to primary-source company disclosures without any subscription fees. Notably, AI tools are designed to simplify complex earnings calls, enhancing comprehension of key financial insights.
Published on: October 14, 2026
The government will retain a 15% equity stake in IDBI Bank and Life Insurance Corporation will hold 19%. Both the government and LIC will withdraw their nominees from the bank's board and become public shareholders. The Cabinet Committee on Economic Affairs has empowered the Alternative Mechanism for minority stake sales of the government's holdings. LIC will manage its residual shareholding as per internal procedures and regulatory compliance.
Published on: October 14, 2026
July 2023 heralded an important change for India as it moved from SGX Nifty to GIFT Nifty, a development with major implications for the financial sector. GIFT Nifty aligns with Indian regulations and provides attractive tax incentives for foreign investors. This initiative is intended to strengthen India's financial infrastructure and position it more firmly within the ranks of international financial hubs.
Published on: October 14, 2026
The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it India’s largest financial-sector FDI.
Published on: October 14, 2026
Astranova Mobility's lending subsidiary, Novafusion Capital, receives approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Institution (NBFC). The firm targets ₹5000 crore in assets under management (AUM) over the next five years, focusing on India's transition to electric mobility. The company highlights the country's requirement of $100 billion to transition its commercial vehicles to electric mobility.
Published on: October 14, 2026
In a notable development, One 97 Communications Ltd., Paytm's parent company, observed a significant rise in domestic share ownership as of Q2 FY 2027. Indian investors now hold over 56% of the firm, which illustrates a positive trend towards local equity involvement. Furthermore, domestic institutional ownership has soared to 29.5%, reflecting heightened engagement from local institutional players. In contrast, foreign direct investment declined to 18.
Published on: October 14, 2026
GIFT Nifty plays a pivotal role as a futures contract that encapsulates overnight global market shifts. It is essential for estimating the daily opening position of the Nifty 50. Investors analyze the discrepancy between the current GIFT Nifty and its previous close to decipher market trends. Though it offers a directional hint, it is not a guarantee of market behavior.
Published on: October 14, 2026
Nexedge Capital has appointed Apurva Sahijwani, previously with Avendus Wealth Management, as co-founder to strengthen its leadership. It aims to utilise his experience for expanding its presence in India's wealth management sector. Nexedge Capital currently operates in 11 cities and advises more than 1,300 ultra-high-net-worth individuals and families.
Published on: October 14, 2026
Bank of Baroda is contending with a $15 billion lawsuit filed by B.R. Shetty following NMC Health's collapse. Shetty alleges that bank officials facilitated fraudulent transactions and ignored anti-money laundering warnings. The bank is currently pursuing recovery proceedings against Shetty for significant outstanding dues. Bank of Baroda has stated that it has not been served with the lawsuit yet.
Published on: October 14, 2026
The Department of Expenditure has urged states to expedite their use of interest-free loans for capital investment. With only a quarter of funds allocated utilized, swift action is necessary to meet spending targets. The central government released around ₹51,000 crore under the Scheme for Special Assistance to States for Capital Investment by October 1. The department is actively working with states to resolve delays and identify projects.
Published on: October 13, 2026
Jyotiraditya M. Scindia discussed significant banking developments at the North East Bankers’ Conclave 2.0 in Agartala. He outlined future targets including opening new bank branches and increasing ATM installations in unbanked areas. Collaborative efforts between banks and government were emphasized to enhance development in the Northeast region. The Chief Minister of Mizoram, Lalduhoma, highlighted the importance of banks in creating economic opportunities for citizens.
Published on: October 13, 2026
