State Bank of India mobilized nearly two billion dollars under a central bank incentive. This amount significantly surpasses other state-owned and private sector banks' efforts. Other lenders like Bank of Baroda and Canara Bank raised smaller sums. Banks are now focusing on attracting overseas currency inflows from the Indian diaspora. This strategy aims to provide greater flexibility for high-net-worth clients.
Private insurers want Irdai to change proposed investment norms for unlisted companies. They suggest linking exposure limits to shareholders' funds instead of surplus. This change could unlock billions for investment in privately held businesses. The proposed framework may expand sector investment capacity significantly. Insurers seek greater flexibility in managing investment portfolios.
New Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply to banks, small finance banks, and NBFCs starting October 2026. Specified non-financial assets are those obtained when resolving stressed loans from borrowers. Lenders must establish board-approved policies for acquiring and disposing of these assets. These assets will be disclosed separately on balance sheets, not as NPAs.
