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The Income Tax Department is conducting searches at Nuvama Wealth, formerly Edelweiss Broking, linked to the Jane Street case, where Nuvama acted as the firm’s local trading partner. Jane Street, accused of market manipulation, recently re-entered Indian markets after depositing ₹4,844 crore with Sebi.
Published on: July 31, 2025
The Reserve Bank of India is expected to maintain its stance on liquidity management. It will likely avoid reintroducing fixed-rate lending to banks. Banks have requested this facility to manage their funding needs better. The RBI prefers variable rate operations. A revised liquidity management framework may be unveiled on August 6.
Published on: July 31, 2025
Punjab National Bank anticipates credit growth of 11-12% in FY26, driven by a strong corporate loan book and increased disbursements. The bank's Q1 operating profit surged, fueled by treasury income and loan recoveries, despite a dip in net profit due to higher tax expenses. PNB plans to offload a 10% stake in Canara HSBC Life Insurance upon its listing.
Published on: July 30, 2025
The bank has engaged Navi Mumbai-based Special Situation Advisors India to find a buyer for 67 large corporate accounts within the next four months. These accounts include Videocon Industries, Frost International, Rotomac Global, Lanco Infratech and ABG Shipyard aggregating to a total outstanding exposure of more than Rs 12,224 crore for the bank, documents accessed by ET showed.
Published on: July 30, 2025
Punjab National Bank aims to boost business loan growth by focusing on infrastructure, smart metering, and renewable energy projects, according to CEO Ashok Chandra. Despite overall domestic loan growth of 9.6%, business loans only grew by 6.9% in the first quarter. PNB reported a net profit of 16.75 billion rupees, impacted by a one-time tax charge.
Published on: July 30, 2025
Amendments to the Banking Laws Act now allow PSBs to transfer unclaimed funds to the IEPF, aligning them with company practices. PSBs can now offer remuneration to statutory auditors, improving audit quality. The 'substantial interest' threshold increased to Rs 2 crore, and director tenures in cooperative banks extended to 10 years, effective April 1, 2025.
Published on: July 30, 2025
Future Generali India Insurance (FGII) plans significant growth. The company targets over Rs 10,000 crore in gross written premium by 2030. FGII anticipates a 13-15 percent annual growth. Central Bank of India's stake acquisition will boost expansion. FGII will focus on bancassurance and underpenetrated insurance sectors. Health and motor insurance will remain key.
Published on: July 30, 2025
ICRA projects significant growth for affordable housing finance companies. Their assets under management are expected to reach Rs 2.5 lakh crore in three years. The mortgage portfolio of non-bank lenders will likely touch Rs 20 lakh crore by March 2028. Retail mortgage loan growth will be driven by demand and limited credit options.
Published on: July 30, 2025
Crisil Ratings anticipates that Indian microlenders will likely remain unprofitable until the fiscal year's end, citing challenges from state ordinances in Karnataka and Tamil Nadu that could impede sector recovery. These states constitute a significant portion of the MFI portfolio. Despite industry efforts to implement safeguards, legacy assets continue to pressure asset quality.
Published on: July 30, 2025
The Reserve Bank of India has cautioned banks and NBFCs against compromising internal controls and regulatory compliance in their pursuit of rapid expansion. RBI Deputy Governor Swaminathan J emphasized that some lenders are prioritizing short-term gains over sound practices, leading to increased supervisory interventions. He urged financial institutions to uphold ethical standards and implement adequate safeguards for digital tools.
Published on: July 30, 2025
The Department of Financial Services (DFS) has urged banks to review penal charges for not maintaining Minimum Average Balance (MAB). This directive, as stated by MoS for finance Pankaj Chaudhary, prioritizes providing financial ease to customers, particularly those residing in semi-urban and rural regions. The aim is to alleviate the burden of these charges on a wider customer base.
Published on: July 29, 2025
Reserve Bank of India (RBI) sets new rules for investments. These rules limit how much banks and NBFCs can invest in Alternative Investment Funds. A single entity can only contribute up to 10 percent of an AIF scheme. All regulated entities together cannot exceed 20 percent. RBI may exempt certain AIFs from these rules after consulting with the government.
Published on: July 29, 2025
Shapoorji Pallonji Group secured a crucial three-year extension from the Reserve Bank of India for its finance unit, Sterling Investment Corp. This waiver averts a potential interest rate hike of 200 basis points on its $3.4 billion private credit deal. The extension provides more time to meet capital adequacy norms, preventing a possible default.
Published on: July 29, 2025
HDFC Bank raised its LCR by 6 percentage points to 124%, Yes Bank by 10 percentage points to 135%, while Canara Bank saw the largest increase, with its LCR rising to 144% from 125% in Q4FY25. On average, LCR rose by approximately 6.5 percentage points during the June quarter of FY26, showed an analysis of the earnings statements.
Published on: July 28, 2025
The private sector lender reported a significant 72% drop in consolidated net profit for the June quarter, plummeting to Rs 604 crore. Chairman Sunil Mehta announced stringent cost management strategies to contain annual operating expenditure growth to single digits, a stark contrast to the current 20%.
Published on: July 28, 2025
Unclaimed deposits in Indian banks reached Rs 67,003 crore by June 2025, with public sector banks holding the majority. The RBI launched the UDGAM portal to help people find these deposits. The government has no plans for Virtual Digital Asset ETFs and is focused on educating depositors and promoting financial inclusion through initiatives like the Bima Sakhi Yojana.
Published on: July 28, 2025
Jammu and Kashmir Bank has announced a record profit of Rs 485 crore for April-June. This surge is attributed to strategic focus on agriculture and retail lending. The bank's MD & CEO, Amitava Chatterjee, shared insights on the bank's performance. He highlighted the success of new agri loan products. Retail loan business has also shown significant improvement.
Published on: July 28, 2025
Finance Minister Nirmala Sitharaman told Parliament that raising the FDI limit in the insurance sector to 100% will boost annual growth to 7.1%, attract stable foreign investment, and improve insurance penetration. The move simplifies foreign entry by removing the need for Indian partners. Efforts are also underway to expand coverage under key social security schemes through grassroots campaigns.
Published on: July 28, 2025
Life Insurance Corp. of India is actively hedging its liabilities by engaging with Wall Street banks like JPMorgan Chase & Co. and Bank of America Corp. LIC has entered into $1 billion in bond forward rate agreements, significantly impacting FRA volumes. This move reflects the increasing sophistication of India's financial market and boosts demand for long-term bonds.
Published on: July 28, 2025
Bank of Baroda and Canara Bank reduced their corporate loan portfolios by ₹54,000 crore in the June quarter to protect net interest margins amidst repo rate cuts. Public sector undertakings sought further rate revisions, prompting the banks to prioritize profitability over retaining these loans.
Published on: July 27, 2025
IndiGo Airlines may see a rise in aviation insurance costs. This follows a recent Air India accident and a tougher reinsurance market. SpiceJet's policy renewal is also coming up. Reinsurers are increasing prices due to global aviation losses. London reinsurers are reducing capacity and raising rates. IndiGo's insurance covers its large fleet. The total insurance value is around $20 billion.
Published on: July 27, 2025
Supreme Infrastructure India (SIIL) has successfully executed a court-approved resolution plan, settling ₹2,200 crore debt with 13 lenders. The company repaid ₹387.92 crore through asset monetization and equity issuance, as per the NCLT-approved scheme. While some non-fund-based liabilities remain, SIIL anticipates resolving them soon, marking a significant step in its financial restructuring.
Published on: July 27, 2025
Payment banks are urging the RBI to reduce the statutory liquidity ratio (SLR) by at least 10% to invest in higher-yielding instruments and boost margins. They're also seeking permission to disburse loans and accept deposits up to ₹5 lakh. With previous requests unanswered, they've requested a meeting with the RBI governor to discuss these issues.
Published on: July 27, 2025
Indian Bank's board has approved raising Rs 5,000 crore this fiscal year, though immediate fundraising isn't anticipated due to a strong 17.80% capital adequacy ratio. The bank is developing 'IND-UPI,' its own UPI application, to save approximately Rs 150 crore annually in transaction fees.
Published on: July 27, 2025
Savings deposit rates in some public sector banks are at a historic low since deregulation in 2011, according to the RBI. While small savings schemes remain unchanged, banks have adjusted lending rates downward following repo rate cuts. Consequently, lending and deposit rates have declined, with public sector banks showing a greater decrease in lending rates compared to private sector banks.
Published on: July 27, 2025
Poonawalla Fincorp aims for over 40% AUM growth, fueled by new product lines like gold loans, after a robust 53% growth in Q1FY26. The company will expand its gold loan business to 400 branches by year-end and diversify its offerings. A Rs 1,500 crore equity infusion will bolster the company's capital base and support future expansion.
Published on: July 27, 2025
Kotak Mahindra Bank's consolidated net profit remained almost flat at ₹4,472 crore in the June quarter, impacted by increased provisions primarily related to microfinance. The bank experienced a rise in credit costs and a contraction in net interest margins to 4.65%. Asset quality also saw a slight deterioration, with the gross non-performing asset ratio increasing to 1.48%.
Published on: July 26, 2025
The Reserve Bank of India has extended the oversight committee's tenure at IndusInd Bank until August 28, 2025, or until a new MD & CEO is appointed, following Sumant Kathpalia's resignation due to accounting lapses. These lapses in the derivatives portfolio had a financial impact of Rs 1,960 crore.
Published on: July 26, 2025
Several Indian banks have approached the Reserve Bank of India, requesting authorization to utilize third-party litigation funding for recovering debts from international organizations. Currently, Indian law lacks provisions enabling banks to use litigation funding for debt recovery. Banks believe this approach could improve initial recovery rates compared to selling assets to recovery firms at significantly reduced prices.
Published on: July 26, 2025
RBI Governor Sanjay Malhotra expressed concerns about granting banking licenses to conglomerates due to potential conflicts of interest involving depositors' funds. He emphasized that ensuring price stability remains the central bank's primary goal. Malhotra clarified that there are no current proposals to allow corporate entities to obtain banking licenses, whether through NBFCs or as individual companies.
Published on: July 26, 2025
"We have been witnessing record activity among brokers and other distribution intermediaries," said Satyajit Tripathy, member (distribution), IRDAI, at an Insurance Brokers Association of India event. "While this is fine by all means, I must add a word of caution that with increased growth being seen, we need not be adopting what we call as sharp practices to increase valuation, get listed, and to do business in a way, which may in the long run prove detrimental to the whole ecosystem."
Published on: July 25, 2025
Bank credit expansion slowed in July despite RBI's rate cuts, growing at 9.8%, lower than the previous year and deposit growth. Retail loan growth has been particularly affected since November 2023 due to regulatory restrictions. A recent HSBC report attributes the slowdown to the real sector's challenges, impacting investment and personal loan demand.
Published on: July 25, 2025
Zubin Mody, IndusInd Bank's Chief Human Resources Officer, has resigned after two decades with the company. His resignation, submitted on July 25, 2025, will be effective from October 24, 2025. Mody expressed his desire to pursue new opportunities and thanked the board, colleagues, and stakeholders for their support, assuring a smooth transition.
Published on: July 25, 2025
The Enforcement Directorate (ED) has filed a chargesheet against former UCO Bank CMD Subodh Kumar Goel, his family, and associates in connection with a Rs 6,200 crore loan fraud case involving Concast Steel & Power Ltd. Goel's properties worth Rs 106 crore have been attached, and he is accused of receiving illegal gratifications for sanctioning loans that later became NPAs.
Published on: July 25, 2025
RBI data reveals a surge in liquid demand deposits and currency with the public, indicating increased liquidity in the banking system and real economy. This rise is attributed to policy measures like liquidity easing, a pickup in rural activity, and higher disposable incomes from tax benefits.
Published on: July 24, 2025
Sanjay Nambiar, Yes Bank's Group General Counsel, has resigned after a 15-year tenure, amidst an ongoing Enforcement Directorate investigation into loan fraud involving Anil Ambani's firms. Nambiar asserts his resignation, effective July 21, 2025, is unrelated to the probe. The ED is currently conducting raids on multiple premises linked to Reliance ADAG as part of its money laundering investigation.
Published on: July 24, 2025
The India-UK free trade agreement, officially CETA, signed in London, aims to boost Indian financial services in Britain and attract UK investment to India. It ensures fair treatment for Indian firms, promoting transparency and non-discrimination. The agreement is expected to enhance electronic payments, FinTech, and market integration, benefiting customers and the broader economy while maintaining financial stability.
Published on: July 24, 2025
A recent report forecasts a rise in credit costs and gross non-performing assets for affordable housing finance companies due to weaker borrower profiles, particularly among the self-employed. While policy initiatives may offer some support, asset under management growth is expected to slow down. Conversely, prime HFCs are projected to experience increased AUM growth and a decrease in gross NPA.
Published on: July 24, 2025
Indian banks will likely be cautious at the Reserve Bank of India's reverse repo auction. A recent cash crunch forced banks to borrow overnight at high rates. Banks had earlier parked Rupees Two Lakh Crore at the seven-day variable rate reverse repo auction. Now, lenders may re-evaluate parking funds in the seven-day VRRR.
Published on: July 24, 2025
IRDAI has proposed a framework mandating an internal insurance ombudsman scheme for insurance companies to address claim-related complaints up to Rs 50 lakh. This independent review mechanism aims to improve grievance handling and boost consumer confidence. Applicable to insurers with over three years of operation, the ombudsman will report directly to the board.
Published on: July 24, 2025
Yes Bank's succession plans will be clearer after SMBC's stake purchase. Prashant Kumar's tenure got a six-month extension. SMBC applied to RBI and CCI for approvals. The deal finalization awaits these approvals. Kumar anticipates a challenging September quarter for the banking sector due to sluggish credit growth and the impact of repo rate cuts.
Published on: July 23, 2025
Banks rushed to borrow from the RBI's VRR auction as overnight money market rates exceeded the policy repo rate. This spike, driven by GST outflows and previous VRRR actions, led to banks utilizing the MSF. While the VRR auction provided some relief, overnight rates remained elevated above the SDF rate, highlighting liquidity pressures.
Published on: July 23, 2025
IndusInd Bank's board has approved raising up to Rs 30,000 crore through equity and debt instruments. The RBI has allowed the Hinduja Group, the bank's promoter, to nominate two directors to the board. This decision follows a period of crisis for the bank, marked by accounting anomalies and a CEO exit.
Published on: July 23, 2025
Irdai introduced new guidelines for insurance companies. Insurers must appoint an internal ombudsman. This ombudsman will handle claim-related complaints. The claim amount can be up to Rupees 50 lakh. This move aims to improve grievance handling. It also seeks to boost consumer confidence in the insurance sector. The draft guidelines are open for public comment until August 17.
Published on: July 23, 2025
Angel One is set to invest ₹400 crore in a life insurance venture with Singapore's Livwell Holding, aiming to create a 'digital-first' insurer. Angel One will hold a 26% stake, while Livwell will hold 74%. The venture seeks to address India's underinsured market with accessible and transparent digital insurance solutions, led by industry veterans.
Published on: July 23, 2025
SBI Chairman C.S. Setty hailed the successful Rs 25,000-crore QIP as a testament to the bank's strength and India's economic potential. The raised capital will fuel asset growth, boosting the bank's CET-1 capital to 11.5%, with a target of 12%. Moody's affirmed SBI's Baa3 rating, anticipating 12% credit growth in FY26, supported by its strong retail franchise and capital improvements.
Published on: July 23, 2025
IndusInd Bank aims to raise up to $3.47 billion through debt and securities to recover from a $230 million accounting lapse that led to executive resignations. The Hinduja family, with a 15.82% stake, can now nominate two board directors after central bank approval. The bank is also searching for a new CEO, with first-quarter results due on July 28.
Published on: July 23, 2025
The Reserve Bank of India (RBI) has revoked the license of The Karwar Urban Co-operative Bank due to insufficient capital and poor earning potential, effective July 23, 2025. Consequently, the bank will cease operations, and the Registrar of Cooperative Societies in Karnataka will initiate liquidation. Depositors will receive insurance claims up to Rs 5 lakh from DICGC, with 92.
Published on: July 23, 2025
PNB Housing Finance aims to increase its high-yielding affordable and emerging market home loan portfolio to 50% by FY27 to improve margins. Currently, these segments constitute 37% of the loan asset portfolio. The lender is strategically shifting focus from prime segments by reclassifying branches and slowing down lending to luxurious housing units.
Published on: July 23, 2025
Kotak Mahindra Bank has introduced 'Solitaire,' a program targeting the underserved affluent segment with relationship values between Rs 75 lakh and Rs 8 crore. This invite-only offering includes dedicated credit cards, specially designed loans, and access to group company products. The bank aims to expand its 4% market share in this segment, leveraging pre-approved credit lines and family benefits.
Published on: July 23, 2025
