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Haryana mandates exclusive banking with public sector banks, drops IDFC First and AU Small Finance

Haryana government has mandated all its departments and state-run entities to exclusively bank with public sector banks. Private bank accounts now require Finance Department approval. IDFC First Bank and AU Small Finance Bank have been removed from the approved panel due to non-adherence to fixed deposit conditions, leading to potential financial losses for the state. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/updJrPF via IFTTT
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IDFC First points to connivance of staff and outsiders in branch fraud

IDFC First branch fraud case: The transactions were executed using forged cheques and manually carried out at the branch, managing director and chief executive V Vaidyanathan told ET. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/os5wjYI via IFTTT
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Unity Small Finance Bank likely to foray into housing finance business next fiscal, says Jaspal Bindra

Unity Small Finance Bank, after missing out on Aviom India Housing Finance, is prioritizing strategic options over aggressive acquisitions. The bank plans to enter the housing finance business in the latter half of the year, focusing on affordable housing and micro-LAP, while also preparing for a public listing in approximately two to two-and-a-half years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zrnfGLQ via IFTTT
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YES Bank looks to exit FY26 with ROA of 1 pc: CFO Niranjan Banodkar

YES Bank anticipates a 1 per cent return on assets by the end of the current financial year. This profitability metric is expected to surpass 1 per cent in the next fiscal year. The bank's net profit saw a significant increase in the December quarter. Strategic initiatives are in place to enhance asset utilization and profitability. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CQw314x via IFTTT
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RBI builds secured data centre away from potential enemy strikes, seismic risk

The Reserve Bank of India has set up a high-security data centre in Bhubaneswar, Odisha, to protect critical financial systems and ensure continuity of operations. The greenfield facility will support currency management, payment and settlement, and regulatory data functions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1NyvUpX via IFTTT
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IDFC First Bank discloses Rs 590 crore fraud at Chandigarh branch involving Haryana govt accounts

IDFC FIRST Bank has uncovered a significant fraud totaling Rs 590 crore. The incident involves employees at one of its Chandigarh branches. Four suspected officials have been suspended pending a thorough investigation. The bank is also appointing an independent agency to conduct a forensic audit. Strict action will be taken against all involved parties. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jQn7kXo via IFTTT
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SBI actively investing in startup-focused funds to strengthen MSME ecosystem, says MD Ravi Ranjan

State Bank of India is actively investing in startup funds and financial market infrastructure. This is part of its strategy for Micro, Small, and Medium Enterprises. SBI is also participating in schemes like Startup India. The bank has established startup hubs in various cities. This initiative aims to support startups through debt, equity, and government services. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/k3EFb8O via IFTTT
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