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Banks told to have stricter norms for eligibility of forensic auditors

Banks are tightening their forensic auditor empanelment framework. This action follows Enforcement Directorate observations against two audit firms. Two audit firms have been de-empanelled from the Agencies for Specialised Monitoring list. Lenders will review the framework for empanelling audit firms further. Public sector banks reported a record net profit in FY26. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/WPfoHcb via IFTTT
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ET Graphics: UPI@10 - A miracle story

UPI has completed a decade of transforming India’s digital payments landscape, with annual transactions soaring from 1.78 crore in 2016-17 to 24,162 crore in 2025-26. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/KeUFwSu via IFTTT
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Bank unions threaten nationwide strike on September 11 to press for 5-day banking, other demands

Bank unions will strike nationwide on September 11 due to unresolved demands. This action follows a government 'negative attitude' towards key union proposals. The strike will impact banking services for four days, including holidays. Further strikes are planned for September 28 and an indefinite one from October 26. Unions seek five-day banking, pension improvements, and a uniform incentive scheme. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PqKASNi via IFTTT
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Citigroup, Axis Bank team up to leverage NRI deposits as RBI dollar inflows surge

Citigroup and Axis Bank have tied up to finance non-resident Indians investing in foreign-currency deposits, leveraging RBI rules that allow standby letters of credit against such deposits. The arrangement could amplify dollar inflows through offshore financing as India seeks to strengthen foreign-exchange reserves and support the rupee amid strong NRI deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HUMxLaw via IFTTT
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AI, trust, and the future of money: With AI making payments invisible, trust becomes the new currency

Artificial intelligence will shift payments from digital to delegated commerce, enabling machines to transact for consumers. Trust and real-time controls will become essential building blocks for the financial system. AI will enhance personalized experiences and help identify fraudulent transactions effectively. Consumers will focus on payment outcomes rather than the underlying transaction rails. New guardrails will be necessary as machines increasingly interact autonomously. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gSjIXwC via IFTTT
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Gold loan portfolio to surpass Rs 1.5 lakh crore by FY27-end: Indian Bank MD

Indian Bank expects its gold loan book to surpass Rs 1.5 lakh crore this financial year. This growth will be driven by increased loan volumes and robust demand for gold loans. The bank also reported significant CASA deposit growth in the first quarter. It has successfully raised USD 400 million through overseas bond issuance. Further foreign currency inflows are anticipated from FCNR(B) deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4nd3DGb via IFTTT
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SBI's total business may double to Rs 200 lakh cr by 75th foundation year in 2030: Chairman

By the year 2030, State Bank of India anticipates its total business could reach an impressive Rs 200 lakh crore, mirroring the Indian economy's projected annual growth of seven to eight percent. The bank's Vision 2030 is designed to benefit customers, employees, shareholders, and government stakeholders. With a focus on bolstering capital ratios and enhancing its cost-to-income ratio, SBI sets its course through various economic landscapes. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/it7g5AP via IFTTT
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