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The government is poised to overhaul the Regional Rural Banks, spotlighting the importance of innovation and cooperation. This reform initiative will incorporate advanced technology and create new financial products, aimed at boosting the effectiveness of RRBs and establishing them as integral partners for their larger banking counterparts.
Published on: March 18, 2026
HDFC Bank chairman Atanu Chakraborty has resigned from the board. He cited practices within the bank that did not align with his personal values and ethics. Keki Mistry has been appointed interim chairman for three months. Chakraborty's tenure saw the significant merger of HDFC Bank with HDFC. His departure raises investor concerns for the systemically important lender.
Published on: March 18, 2026
Atanu Chakraborty has resigned as HDFC Bank's part-time chairman and independent director, citing concerns over "certain happenings and practices" not aligning with his personal values and ethics. His departure, effective immediately, follows two years on the board, during which he oversaw the significant merger with HDFC Ltd. Keki Mistry has been appointed interim chairman.
Published on: March 18, 2026
Centrum Group has sold its housing finance subsidiary, Centrum Housing Finance. Weaver Services, backed by Premji Invest, acquired a 75% stake. This deal was completed after receiving regulatory approval. Weaver Services also raised Rs 950 crore to fund this acquisition. The capital raise totaled Rs 1,450 crore. Lightspeed Venture Partners co-led the recent funding round.
Published on: March 18, 2026
A new chapter begins for Manappuram Finance as its subsidiaries, Asirvad Micro Finance and Manappuram Home Finance, have received the final nod from the Reserve Bank of India. This crucial approval enables Bain Capital to take indirect command over these companies.
Published on: March 18, 2026
Banks have approached the Supreme Court to release Rs 5,100 crore. This amount is part of a settlement for Sterling Biotech Ltd. and its group companies. The total outstanding debt is Rs 19,283.77 crore. Lenders agreed on a distribution formula. The court is expected to hear the matter soon. This move aims to recover a portion of the dues.
Published on: March 18, 2026
Axis Bank will inject Rs 1,500 crore into its subsidiary, Axis Finance, by March 2027. This capital infusion will be through a rights issue. The bank had previously considered selling a stake in Axis Finance but shelved the plan. This decision follows revised RBI guidelines allowing group entities to operate in similar businesses.
Published on: March 18, 2026
Standard Chartered is considering offers from Kotak Mahindra Bank and Federal Bank for its Indian credit card customers. This move aligns with the bank's strategy to reduce focus on single-product clients. The sale involves up to 600,000 customers who only have credit cards. This divestment aims to improve profitability by shedding non-core assets.
Published on: March 18, 2026
Axis Bank will invest Rs 1,500 crore into Axis Finance by March 2027. This cash infusion follows a strategic review after plans to sell a stake were paused. The bank is reassessing its approach to the non-bank finance company. Axis Finance has shown consistent growth in recent years. A revised growth plan will be presented soon.
Published on: March 18, 2026
The government may restart the privatisation of IDBI Bank from scratch after financial bids came in below the reserve price, leading to the cancellation of the earlier process. A panel of ministers will review the situation and take a final call, with early discussions favouring a fresh start.
Published on: March 18, 2026
Industry executives say a few private credit deals are already showing early signs of stress. Light-touch regulations have meant that unlike banks or non-bank lenders that must periodically disclose their suspect-loans data, lenders in these markets do not need to disclose asset-level performance.
Published on: March 17, 2026
Global private equity firm L Catterton is increasing its India investments. The firm is adopting a selective approach, backing strong founder-led businesses in attractive sectors. L Catterton prioritizes companies with proven profitability over rapid growth. This strategy aims to avoid inflated valuations in India's competitive consumer market.
Published on: March 17, 2026
The NPAs consist of a land parcel and building in Gurugram, Haryana, measuring about 7,800 sq m. The reserve price for the asset has been fixed at Rs 250 crore, with a bid increment amount of Rs 2.5 crore, as per a notice issued in newspapers.
Published on: March 17, 2026
Jio Payments Bank now allows UPI-based cash withdrawals. Customers can scan a UPI QR code at business correspondent points to get cash. This eliminates the need for debit cards or ATMs. The initiative aims to improve digital payment access, especially in rural and semi-urban areas. It strengthens UPI's reach and promotes financial inclusion across India.
Published on: March 17, 2026
Standard Chartered has mobilised over USD1 billion for India's microfinance and NBFC sectors. P.D. Singh, CEO for India and South Asia, explains how the bank is leveraging its global expertise to help accelerate India's transition to a more sustainable, inclusive economy.
Published on: March 17, 2026
Twenty-one million small borrowers exited formal finance. Lenders stopped new loans to those with overdue payments after a microfinance crisis. Many have returned to private moneylenders. This trend reflects tighter lending rules and market contraction. Loan disbursements saw a recent increase, indicating a slow recovery.
Published on: March 16, 2026
Banks are now using artificial intelligence to predict payment system problems. This technology analyzes vast amounts of data to spot issues early. Instead of fixing problems after they happen, banks can now anticipate them. This shift ensures smoother transactions for customers worldwide. Regulators also expect banks to show they understand and manage these risks.
Published on: March 16, 2026
The Reserve Bank of India has taken a firm stance against Cashfree Payments India Private Ltd. by imposing a Rs 3.1 lakh penalty. This decision follows a comprehensive statutory inspection that identified serious breaches of RBI regulations.
Published on: March 16, 2026
In a troubling financial forecast, top wilful defaulters are on track to owe banks over Rs 40,000 crore by March 2025, with ABG Shipyard at the forefront. Conversely, the digital payments sector is experiencing explosive growth, having reached an astronomical Rs 849.12 lakh crore in retail transactions by FY25.
Published on: March 16, 2026
The write off peaked in FY20 at Rs 1.59 lakh crore, and since then it has been declining to Rs 47,568 crore in FY25. Banks have written off Rs 31,723 crore in FY15, Rs 40,416 crore in FY16, Rs 68,308 crore in FY 17, and Rs 99,132 crore in FY18, he said in a written reply to the Lok Sabha.
Published on: March 16, 2026
Corporate and investment banks are losing ground to non-bank financial institutions. Clients demand faster, more transparent, and responsive services. Banks struggle with outdated systems and limited AI adoption. Innovation efforts are not yielding expected revenue or cost savings.
Published on: March 16, 2026
IDBI Bank has responded to media speculation regarding the government's proposed majority stake sale. The bank stated it cannot confirm or deny reports suggesting the sale might be scrapped due to low bids. IDBI Bank clarified that the strategic disinvestment process is confidential and managed by the government. The bank has not received any official communication about the sale's cancellation.
Published on: March 16, 2026
India's microfinance sector is seeing a significant shift. Lenders are now offering larger loans to existing customers with good repayment histories. The average loan size has reached its highest point. This indicates growing lender confidence and a move towards more substantial lending. New loan disbursements are also showing steady growth.
Published on: March 16, 2026
India's financial sector faces challenges if the Middle East conflict continues. Banks and lenders will see higher costs and less liquidity. Borrowers, both companies and individuals, will feel the strain. Oil and gas supply disruptions will impact industries. The rupee may weaken. Despite these pressures, India's overall economic conditions are expected to remain stable.
Published on: March 16, 2026
Investigators found many cases of funds routed through multiple accounts or entities to obscure their origin, necessitating a deeper scrutiny under the anti-money laundering law, they said. The matter is connected to an ongoing investigation into alleged GST evasion related to online betting applications involving transactions totalling around ₹10,000 crore.
Published on: March 15, 2026
India's Ayushman Bharat health scheme is a lifeline for cancer patients, improving access to treatment. A new study highlights its strengths and areas for improvement. While the scheme covers many treatments, a funding gap exists. Experts suggest smarter spending, early detection, and revised benefit caps to save lives and reduce costs. Policy changes are underway to enhance cancer care.
Published on: March 15, 2026
Axis Bank must pay Procure Logistics Services Pvt Ltd Rs 3.19 crore. The National Consumer Disputes Redressal Commission found the bank deficient in service. Axis Bank refused to accept demonetised currency notes from the company during the 2016 demonetisation period. This refusal caused the company a direct and irreversible loss. The commission ordered payment with interest.
Published on: March 14, 2026
IDBI Bank sale: An outright cancellation of the strategic sale of IDBI will make it harder for the government to realise its FY27 disinvestment and asset monetisation target of ₹80,000 crore. At Friday's share price on the BSE, the sale of a 30.48% stake in IDBI Bank could fetch the government about ₹30,215 crore.
Published on: March 13, 2026
In response to evolving healthcare needs, Shriram General Insurance Company announced the launch of Shri Health Suraksha 2.0, an enhanced health insurance suite engineered for greater flexibility and 'all-inclusive' protection. This indemnity plan addresses critical gaps in traditional coverage by removing standard caps on room charges and adding unlimited restoration benefits.
Published on: March 13, 2026
Bank credit saw a strong 14.5% year-on-year growth by February 28. Deposits also expanded, reaching 11.9% growth. This marks an acceleration from the previous fortnight. Scheduled commercial banks hold Rs 251.90 lakh crore in deposits, with fixed deposits forming 87% of this amount. Total bank credit stands at Rs 207.54 lakh crore. The credit-deposit ratio slightly eased to 82.39%.
Published on: March 13, 2026
Shriram Life Insurance is gearing up for a significant leap, projecting a robust 20% growth by the fiscal year 2025-26. To enhance its footprint in the market, the company is forging new alliances with banks, broadening its distribution avenues. This pivotal strategy marks a shift from their prior emphasis on direct distribution methods.
Published on: March 13, 2026
Manappuram Finance has been hit with a fine of Rs 2.70 lakh by the Reserve Bank of India due to lapses in regulatory adherence. The penalty stems from the company’s oversight in postponing variable compensation for essential staff. While this fine aims to rectify compliance issues, it will not impact customer interactions.
Published on: March 13, 2026
The Directorate of Enforcement has searched 19 locations in a Rs 597-crore scam. Public funds meant for fixed deposits were allegedly siphoned off. The investigation involves former bank employees and shell entities. Proceeds were routed through jewellers and real estate developers. Over 90 bank accounts were frozen during the searches.
Published on: March 13, 2026
New banking rules starting April 1 will empower lenders to boost credit by an estimated 7 percent. Banks can now use their existing liquidity for loans, increasing lending capacity. This shift is expected to benefit public sector banks significantly. Analysts believe this will ease concerns about lending growth constraints. Credit expansion may soon outpace deposit growth.
Published on: March 12, 2026
Canada’s 2nd largest pension fund, also the largest institutional investor in infrastructure globally, looks to deploy about $3 bn in next 4-5 yrs.
Published on: March 12, 2026
Banks will discuss internally how such schemes can be designed with a uniform loan application and other credit appraisal metrics. The retail loans will cover all consumer loans, including housing loans, subject to prudent lending guidelines, said an official.
Published on: March 12, 2026
IDFC First fraud: According to the Bureau, a breakthrough has emerged in the case, revealing that several fake firms and companies were created by the prime accused to illegally divert government funds into multiple bank accounts.
Published on: March 12, 2026
Pension disbursing banks must now monitor and ensure pensioners submit digital life certificates. The government has introduced face authentication for easier submission using smartphones. Services of India Post and Payments Bank are also utilized. Mega camps are held to assist elderly, sick, and disabled pensioners. Pension adalats have resolved thousands of long-pending grievances.
Published on: March 12, 2026
South Indian Bank has introduced Employees' Provident Fund payment services through its SIBerNet internet banking platform. This collaboration with EPFO allows employers to easily remit EPF contributions. The integration simplifies statutory payments for businesses. Employers can now use South Indian Bank's net banking facility for direct remittances via the EPFO portal. This move enhances the bank's digital offerings.
Published on: March 12, 2026
Public sector banks (PSBs) outpaced private lenders in credit growth during the December quarter of FY26, with loan growth ranging from 17-28% year-on-year. This surge boosted PSBs' market share in loans to 54.4%, while private banks saw a slight decline. Improved asset quality and corporate lending revival fueled PSB momentum.
Published on: March 11, 2026
India is launching a groundbreaking Virtual Asset Lab to identify unregistered offshore virtual asset service providers. This initiative targets firms that exploit international boundaries to evade Indian regulations and facilitate money laundering. With this proactive measure, India is reinforcing its financial security and enhancing regulatory monitoring in the burgeoning realm of virtual assets.
Published on: March 11, 2026
The state-owned lender Wednesday announced that it will increase the marginal cost of funds based lending rates (MCLR) from Thursday. The two year MCLR will be 8.95% from Thursday, revised from 8.85% while three year MCLR will be 9% against 8.90%, the bank said in a regulatory filing to stock exchanges.
Published on: March 11, 2026
IDFC First Bank fraud case: The agency conducted searches in Haryana and Chandigarh against various business entities who helped the accused persons get accommodation entries to conceal the money trail and proceeds of crime, they said.
Published on: March 11, 2026
The alliance follows recent reforms by India's central bank permitting domestic lenders to finance corporate acquisitions, funding up to 75% of the deal value for listed and unlisted firms.
Published on: March 11, 2026
HDFC ERGO General Insurance has appointed Parthanil Ghosh as its new Managing Director and Chief Executive Officer. Ghosh will assume leadership from Anuj Tyagi. This significant change is scheduled to take effect from April 16, 2026. The decision has received approval from the company's Board of Directors. Regulatory clearances are pending.
Published on: March 11, 2026
Fintech firm CRED has secured final approval from the Reserve Bank of India to function as a payment aggregator. This new authorisation complements its existing Prepaid Payment Instrument license. CRED can now onboard merchants, process payments, and manage settlements. The company reported reduced operating losses and revenue growth in FY25.
Published on: March 11, 2026
Introducing PhonePe's latest innovation: the 'RuPay On-The-Go' Card, your new travel companion! Embrace the future of transit payments with this National Common Mobility Card, allowing you to tap and pay effortlessly on metros, buses, and trains. The brilliance of this card lies in its offline storage, meaning your balance is always at your fingertips.
Published on: March 11, 2026
India's booming digital commerce is marred by "dark patterns," design tactics that trick consumers into overpaying or buying unwanted items. From airlines to quick-comm startups and banks, companies exploit weak regulations and a newly connected population.
Published on: March 11, 2026
UNS markets Seacod, one of India's top-selling cod liver oil capsule brands. The company is expected to be valued at around ₹3,000 crore. Investment bank Rothschild has been appointed to advise Kedaara on the sale process, the people cited above said.
Published on: March 10, 2026
India's National Investment and Infrastructure Fund has raised a remarkable $750 million for its second private markets fund, set to empower Indian companies by strategically partnering with private equity and venture capital firms.
Published on: March 10, 2026
