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State Bank of India Chairman CS Setty has urged policymakers and tech developers to simplify the Know Your Customer (KYC) process, identifying it as a major hurdle for both banks and customers. SBI is also enhancing its YONO 2.
Published on: October 8, 2025
New banking rules for credit loss provisions will have limited impact. The Reserve Bank of India has proposed a phased implementation starting April 2027. Banks will have four years to adjust existing loans. State Bank of India chairman CS Setty confirmed the bank is technologically prepared for these upcoming changes.
Published on: October 8, 2025
RBI Governor Sanjay Malhotra highlighted the crucial role of the account aggregator framework and the new unified lending interface (ULI) in expanding credit access for the under-served. These initiatives aim to enhance interoperability and leverage richer financial data, strengthening the credit delivery ecosystem and fostering financial inclusion.
Published on: October 8, 2025
Public sector banks have backed the One Nation, One Election Bill. They believe simultaneous elections will minimize disruption to banking services and ease the burden on staff. The Lok Sabha has extended the deadline for the joint parliamentary committee report on the Bill to 2025. Concerns about consecutive holidays are being addressed. Simultaneous elections could also significantly cut financial costs.
Published on: October 8, 2025
The Supreme Court has directed the Ministry of Corporate Affairs to present original records concerning the closure of illegalities flagged by SEBI in Indiabulls Housing Finance. The court seeks to understand the extent of objections that were closed. The Enforcement Directorate is also asked to clarify its stance on money laundering charges and its actions.
Published on: October 8, 2025
The Reserve Bank of India has imposed significant restrictions on The Baghat Urban Co-operative Bank, including a Rs 10,000 withdrawal cap per customer. These measures were necessitated by the bank's failure to address supervisory concerns and protect depositors' interests.
Published on: October 8, 2025
Fintech firm Pay10 has appointed cricketer Virat Kohli and actress-producer Anushka Sharma as its global brand ambassadors to support the launch of its UPI-enabled payments app in India. The couple's endorsement aims to position Pay10 as an inclusive digital payment solution for consumers and businesses, leveraging their extensive digital reach to amplify the brand's presence.
Published on: October 8, 2025
India aims for developed nation status by 2047. Niti Aayog CEO BVR Subrahmanyam highlights technology's role in expanding credit access. Fintech will drive financial inclusion for women, MSMEs, and youth. India's digital ecosystem and AI innovation position it as a global fintech leader. A comprehensive fintech platform is envisioned by 2047.
Published on: October 8, 2025
Gujarat's GIFT City is set to revolutionize forex transactions for Indian lenders, aiming for instant settlements through the tax-neutral hub. This initiative, in discussion with the central bank, promises quicker, cheaper forex deals for foreign investors and opens new avenues for banks. A real-time settlement system is already operational for GIFT City branches, significantly reducing settlement times.
Published on: October 8, 2025
Indel Money is launching its sixth public issue of secured Non-Convertible Debentures. The issue opens on October 13 and closes on October 28, 2025. The company aims to raise up to ₹300 crore. Funds will be used for lending, financing, and repaying borrowings. Indel Money has a significant Assets Under Management and a wide branch network across India.
Published on: October 8, 2025
Indian banks are set for growth despite global challenges. S&P Global Ratings reports banks can absorb rising credit costs. Credit growth is expected to pick up from the second half of fiscal 2026. Asset quality will soften slightly. Corporate financial health is improving, indicating banks can manage potential loan defaults.
Published on: October 8, 2025
India’s digital payment story is now one of balance -- between instant UPI transfers and credit-driven purchases, between small daily spends and aspirational big buys. As the festive season continues, that balance is likely to tilt further toward credit as consumers chase offers, cashbacks, and the ease of paying later.
Published on: October 8, 2025
Reserve Bank of India's new credit risk rules and expected credit loss framework will not greatly affect bank balance sheets. State Bank of India's chairman stated this is due to a long transition period. The proposals aim to align India's banking rules with global standards. Banks will classify loans based on credit risk.
Published on: October 8, 2025
Anicut Capital has led a pre-seed funding round for Goodmelts, a D2C brand focused on toxin-free, sustainable home fragrance products. Founded in 2023, Goodmelts aims to elevate home scents beyond odor elimination, influencing emotions and well-being. The investment underscores growing confidence in Indian brands prioritizing safety and consumer wellness.
Published on: October 8, 2025
London-based digital finance firm Revolut is launching its payment platform in India, marking its entry into a major digital payments market. The platform will facilitate domestic and international payments through partnerships with Unified Payments Interface and Visa, with a goal of acquiring 20 million customers by 2030.
Published on: October 8, 2025
The Reserve Bank of India has taken over the board of Irinjalakuda Town Co-operative Bank. This action is due to the bank's ongoing poor financial health and governance problems. An administrator and advisors will now manage the bank for a year. Similar restrictions have been placed on Sadbhav Nagrik Sahakari Bank and Samarth Urban Co-operative Bank.
Published on: October 7, 2025
Bajaj Finserv has rebranded its insurance arms to Bajaj General Insurance and Bajaj Life Insurance, marking a significant shift after acquiring Allianz SE's stake for full ownership. This move signifies a renewed commitment to India's insurance sector, emphasizing trust and national growth. The company aims to empower Indians financially while upholding core values.
Published on: October 7, 2025
The Reserve Bank of India has cancelled the banking licence of Jijamata Mahila Sahakari Bank, Satara, citing inadequate capital and poor earning prospects. The bank, which had its licence previously cancelled and then restored, will cease banking operations by October 7, 2025. Depositors will be eligible for insurance claims up to Rs 5 lakh.
Published on: October 7, 2025
IDBI Capital and Northern Arc Capital have jointly invested Rs 60 crore in Satin Finserv, the MSME lending arm of Satin Creditcare Network. Each firm contributed Rs 30 crore via listed, secured, and rated non-convertible debentures at a 10.95% annual coupon. The funds will fuel the expansion of MSME lending and green finance initiatives.
Published on: October 7, 2025
The government is set to finalize the IDBI Bank stake sale by fiscal year-end, with financial bids expected soon. This significant divestment, alongside plans for other state-run banks, aims to meet regulatory requirements and boost public shareholding. The process, announced in 2022, is progressing as planned, signaling a major step in the banking sector's reform agenda.
Published on: October 7, 2025
PhonePe has launched its new SmartPOD, a device merging POS and smart speaker functions, enabling small merchants to accept both UPI and card payments. Designed in India, it supports major card networks and offers features like dual displays and celebrity voice confirmations. This move aims to boost digital payment adoption for businesses of all sizes across India.
Published on: October 7, 2025
The Reserve Bank of India is enhancing the banking ombudsman scheme. Customers may receive up to Rs 30 lakh for losses. An additional Rs 3 lakh can be awarded for harassment and time spent on grievances. Co-operative bank customers can now approach the ombudsman from November 1.
Published on: October 7, 2025
Axis Bank is targeting leadership in acquisition financing. The Reserve Bank of India is expected to allow domestic banks into this segment. Axis Bank's CEO stated the bank will compete with foreign lenders. Axis Bank is also awaiting RBI's final circular on its NBFC subsidiary, Axis Finance, before proceeding with a stake sale.
Published on: October 7, 2025
Starting October 8, India will allow users to authenticate Unified Payments Interface (UPI) transactions through facial recognition and fingerprints, using Aadhaar-based biometric data, sources said. The move follows new RBI guidelines permitting alternative authentication methods and replaces the current PIN-based system. The NPCI plans to showcase the feature at the Global Fintech Festival in Mumbai.
Published on: October 7, 2025
The Reserve Bank India will use the wholesale leg of its central bank digital currency (CBDC) as the underlying layer for the exercise, RBI chief general manager Suvendu Pati said on Tuesday.
Published on: October 7, 2025
Sammaan Capital is set to significantly expand its affordable housing loan offerings. A substantial $1 billion investment from Abu Dhabi's International Holding Company will fuel this growth. The company aims for 1 trillion Indian rupees in assets under management by financial year 2027. This strategic move involves opening numerous new branches, primarily in smaller cities and suburban areas.
Published on: October 7, 2025
Microfinance interest rates are rising, defying the general trend of declining rates, as lenders grapple with increased credit costs and persistent asset quality issues. Major NBFC-MFIs have hiked their lending rates, widening the range to 18-28% due to higher delinquency and funding costs.
Published on: October 6, 2025
IndusInd International Holdings Ltd has finalized its acquisition of Sterling Bank in the Bahamas. This follows their initial 51% stake purchase in September 2022. The Mauritius-based company now holds full ownership of the Bahamian bank. IndusInd International Holdings is a significant investor in the BFSI sector and is also the promoter of IndusInd Bank in India.
Published on: October 6, 2025
India's government is in early talks with local insurers to design a nationwide climate-linked insurance program. This parametric model would provide quick, pre-determined payouts for extreme weather events like heatwaves and floods, helping the government manage disaster costs. India, highly vulnerable to climate change, aims to be a pioneer in this approach, building on successful state-level pilots.
Published on: October 6, 2025
The Reserve Bank of India's October policy measures offer major relief to non-banking financial companies. A Morgan Stanley report confirms this supportive stance. The RBI removed business overlap restrictions for bank-promoted NBFCs. It also reduced risk weights on infrastructure project lending. These steps benefit infrastructure-focused NBFCs such as Power Finance Corporation and REC Limited. The repo rate remains unchanged.
Published on: October 6, 2025
Bank of Maharashtra reported strong financial performance. Credit growth reached 16.8 percent in the second quarter. Total advances stood at Rs 2.17 lakh crore. Deposits increased by 12.1 percent to Rs 3.09 lakh crore. The bank's total business rose 14.2 percent. CASA ratio improved to 50.35 percent. These figures reflect robust growth.
Published on: October 6, 2025
According to Reserve Bank of India (RBI) data, system credit growth edged up to 10.3% year-on-year as of September 5, compared with 10% as of August 22, while deposit growth moderated to 9.8% from 10.2% over the same period. The system credit-deposit ratio remained elevated at 79% as of September 2025.
Published on: October 5, 2025
ECL is a forward-looking accounting standard that requires banks to make provisions on expected losses based on past asset quality, instead of incurred loss-based provisioning. The already created buffer would come into play from the first quarter of FY28. "Banks with higher floating and contingent provisions would be less impacted by the ECL provisioning norm. Typically, a few large private banks have built material floating provisions as compared to their public sector peers," Icra senior vice president and co-group head Anil Gupta told ET.
Published on: October 5, 2025
Truhome Finance is receiving an additional Rs 500 crore from Warburg Pincus, bringing total investment to over Rs 2,000 crore. The affordable housing lender plans aggressive growth, targeting Rs 23,000 crore AUM by fiscal end, while maintaining strong asset quality and expanding its tech and branch network, primarily serving the self-employed segment.
Published on: October 5, 2025
Punjab & Sind Bank has shown strong financial growth. Loans have increased by 16.1 percent to Rs 1.05 lakh crore in the second quarter of FY26. Gross advances stand at Rs 91,032 crore by September 2024. Total deposits have risen to Rs 1.35 lakh crore. The bank's total business has grown by 12.2 percent. Credit deposit ratio stands at 77.
Published on: October 5, 2025
UCO Bank reported strong financial growth for the second quarter of FY26. Credit expanded by 16.6 percent, reaching Rs 2.31 lakh crore. Total deposits increased by 10.8 percent to Rs 3.06 lakh crore. The bank's overall business grew 13.2 percent, touching Rs 5.37 lakh crore. Its credit deposit ratio also rose to 75.56 percent.
Published on: October 5, 2025
HDFC Bank reported a 9% rise in loans to Rs 27.9 lakh crore and a 15.1% growth in deposits to Rs 27.1 lakh crore for the second quarter ended September 30. Meanwhile, Kotak Mahindra Bank also saw robust growth, with credit increasing by 15.8% to Rs 4.62 lakh crore and deposits rising 14.6%.
Published on: October 4, 2025
Union Finance Minister Nirmala Sitharaman launched a campaign in Gandhinagar. The initiative aims to return 1.84 lakh crore rupees in unclaimed financial assets. These funds are with banks and regulators. The three-month Apki Poonji, Apka Adhikar campaign will focus on awareness, access, and action. Officials will ensure rightful owners claim their money. The RBI's UDGAM portal will assist claimants.
Published on: October 4, 2025
Life insurers face a similar squeeze. The industry paid about ?24,000 crore in GST in FY24, offset by ? 14,000 crore of ITC. With credits no longer available, the new two-rate system leaves them facing a ?15,000 crore sector-wide hit, part of which will show up in company profit and loss accounts and embedded values. Despite the exemption, customers may not see a meaningful drop in premiums as insurers adjust pricing to recoup lost credits, analysts said.
Published on: October 3, 2025
The Reserve Bank of India imposed penalties on two financial entities. American Express Banking Corp received a fine for credit card direction non-compliance. HDB Financial Services faced a penalty for Know Your Customer norm violations. The central bank conducted inspections and issued show cause notices. These actions followed supervisory findings of regulatory compliance issues. The penalties address specific operational deficiencies.
Published on: October 3, 2025
The Reserve Bank of India granted self-regulatory organisation status to the FIDC on Friday. This action aims to enhance compliance in the non-banking lending sector. SROs develop industry standards and ensure member adherence. They also collaborate with the RBI for regulatory oversight. FIDC represents major non-banking financial companies. This strengthens financial market regulation.
Published on: October 3, 2025
Bank credit growth is increasingly outpacing deposit mobilisation, with the gap widening as deposit rates fall sharply. Despite this, bankers anticipate higher loan demand in the festive season and Q3, driven by lower GST rates and the Reserve Bank of India's regulatory push to boost credit flow and bank resilience.
Published on: October 3, 2025
The Reserve Bank of India's latest Bank Lending Survey reveals continued optimism among bankers regarding rising loan demand across all key sectors for Q2 FY26 and beyond. Significant improvements were noted in agriculture, manufacturing, and services. Lenders also anticipate favourable and easing lending terms through Q1 FY27, supporting sustained credit growth.
Published on: October 3, 2025
New cheque clearing rules explained: India's cheque clearing will transform from October 4, 2025, moving to continuous processing. This significant upgrade means funds could reach accounts in just hours, a major improvement over the current 1-2 business days. The RBI's new system, featuring hourly settlements and auto-approvals, promises nationwide uniformity and quicker access to money, greatly enhancing convenience for all customers.
Published on: October 3, 2025
Larger banks with established capital markets divisions, such as ICICI Securities and SBI Capital Markets, will be better placed than mid-sized lenders. For financing deals, banks will need to develop a more nuanced assessment than steady-state projections of financial statements.
Published on: October 2, 2025
Indian Bank's advances rose 13% on a year-on-year basis, the highest quarterly growth since the first quarter of FY24. Its deposits also rose 12%, the highest since the second quarter of FY23. Its provisional advances stood at Rs 6.22 lakh crore, while deposits were Rs 7.76 lakh crore for the quarter ending September 2025.
Published on: October 2, 2025
For years, banks were barred from financing mergers and acquisitions through equity purchases, curbs that were put in place to prevent leverage buyouts. While banks could lend against hard assets such as plants, brands, and factories, they were not permitted to fund share purchases that gave acquirers control of firms.
Published on: October 2, 2025
International Holding Company acquired a 42 percent stake in Sammaan Capital. This investment will provide stability and operational advantages. Sammaan Capital will expand its NBFC products and offerings. The company will use technology and access a global network. Sammaan Capital plans to achieve an AUM of one lakh crore by 2027. It will prioritize middle and lower-income customers.
Published on: October 2, 2025
Abu Dhabi-based Avenir Investment RSC, an affiliate of International Holding Company, has agreed to acquire a 43.46 per cent stake in Sammaan Capital for USD 1 billion through preferential share issuance. This significant primary capital infusion marks IHC's entry into India's financial services, aiming to fuel Sammaan Capital's growth and improve its financial standing.
Published on: October 2, 2025
The Reserve Bank of India will permit banks to finance corporate acquisitions. It will also remove the cap on large corporate exposures. These regulatory changes are set to unlock significant lending opportunities. Over Rs 5 lakh crore in new credit demand is expected. Banks will fund corporate mergers and expansion plans. This move will reshape India's corporate funding landscape.
Published on: October 2, 2025
