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Banking leaders urged to shape reforms as government readies panel for Viksit Bharat 2047

Finance Minister Nirmala Sitharaman said the government will soon set up a high-powered committee to chart the banking sector's role in building a "Viksit Bharat", with the panel set to draw on ideas and research emerging from two days of intensive discussions with banking sector stakeholders. Calling India's banks well placed to undertake reforms with NPAs at their lowest levels, Sitharaman said the committee's recommendations would help determine the future direction of banking and enable the government to accelerate reforms and "rev up the Indian economy" over the next two decades. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/QASx9uL via IFTTT
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Banks may rush to tap short loans abroad

Bankers said some lenders now plan to borrow more short-term funds, possibly at a higher rate, to finance the promised leverage to FCNR(B) clients after the Reserve Bank of India advanced the deadline for swap support. These funds will have to be replaced with a long-term loan or bond later, leading to a temporary mismatch between banks' foreign deposits and borrowings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1S7V3W5 via IFTTT
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RBI moves to distance self from bank deposit ratings

The Reserve Bank of India has instructed rating agencies to refrain from categorizing it as the regulator overseeing bank deposits. This recent directive raises the possibility that these credit assessment organizations may halt the evaluation of bank deposits entirely. With threats of deposit outflows and potential bank instability stemming from any downgraded ratings, the landscape of retail deposit reactions remains mixed. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JbmlZFL via IFTTT
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Indian Bank plans to garner $400 million via ECB this week: MD Binod Kumar

Indian Bank plans to raise $400 million via External Commercial Borrowings this week. The bank may raise an additional $600 million through ECB before December 2026. It also aims to gather USD 2 billion from FCNR(B) deposits, seeing good demand. The Reserve Bank of India has already closed its concessional swap facility early. These efforts support the bank's business growth and digital initiatives. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2mqKXUf via IFTTT
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RBI upper-layer NBFC list to come out soon

The Reserve Bank of India will soon release a list of upper-layer NBFCs. New principle-based regulations will classify these financial companies into different layers. Companies in the upper layer will be required to publicly list their shares. Tata Sons may be included on this upcoming list of NBFCs. The central bank has not published this specific list since January 2025. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZNOYich via IFTTT
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ICICI Bank seeks to raise $1.45-billion loan from a BofA-led consortium

ICICI Bank is seeking a substantial $1.45 billion loan from a banking consortium. Bank of America is leading the syndicate, which includes several international banks. This four-year loan aims to attract leveraged investors to the FCNR-B deposit program. The Reserve Bank of India is absorbing currency hedging costs for these deposits. Funds will support overseas clients making foreign currency deposits with the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/qgk75nJ via IFTTT
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The hidden economics of international spending

The expansion of Indian international spending is rapidly increasing annually. The hidden costs of forex mark-up on credit cards can significantly inflate overseas purchases. Opting for zero forex mark-up cards provides considerable savings for those who travel often. As consumers assess credit cards based on avoided costs and enhanced experiences, grasping these transaction economics becomes essential for more informed global spending. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/s4Yi3DX via IFTTT
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