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AU Small Finance Bank files for final universal bank licence

AU Small Finance Bank has submitted its final application for a universal banking license after the RBI relaxed the non-operative holding company requirement. The bank is fully prepared technologically and product-wise for the transition, having received in-principle approval last August. This move signifies a significant step towards becoming a full-fledged universal bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/WMKcRVs via IFTTT
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SBI cards sells Rs 1,800-crore bad loans to Integro Finserv

SBI Cards has taken a bold step in fortifying its financial health by offloading a considerable portion of its stressed credit card debt, valued at approximately ₹1,800 crore, to Integro Finserv. This transaction is a critical aspect of SBI Cards' plan to address mounting delinquencies and elevate the overall quality of its credit card offerings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5oDj4TI via IFTTT
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RBI asks banks to report overseas rupee OTC derivative contracts to CCIL

In a move aimed at improving transparency in the derivatives market, the central bank has issued directions on 'Reporting Instructions for Authorised Dealer Category - I Banks'. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1qYOMhj via IFTTT
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India’s banking system turns sluggish amid loan recovery delays and legal hurdles: CII report

India's banking sector needs urgent reforms. The Confederation of Indian Industry's report highlights slow loan recovery and complex laws. Reforms aim to speed up legal processes and improve efficiency. Stricter timelines and stronger institutions are recommended. Simplifying laws under a unified code is also proposed. These changes will strengthen financial discipline and boost investor confidence. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TA1q2uD via IFTTT
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Finance Ministry asks PSBs to complete wage revision process in next 12 months

Public sector banks must begin wage revision talks for employees and officers. Negotiations for the 13th Bi-partite settlement are to be finalised within a year. This wage revision is due from November 1, 2027. The government emphasises timely conclusion to maintain industrial harmony. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RJEsdfX via IFTTT
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Explained | Why Anthropic’s Mythos is spooking bankers and what it means for global finance

Anthropic’s Mythos AI is triggering global concern as banks and regulators warn it could enable faster, large-scale cyberattacks on financial systems. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EGrS35q via IFTTT
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Haryana IDFC First Bank fraud: Development and Panchayat Dept official dismissed from service

IDFC First Bank fraud: A Haryana government official has been dismissed from service. Naresh Bhuwani, a Superintendent in the Development and Panchayat Department, faces dismissal in a Rs 590 crore IDFC First Bank fraud case. The government has uncovered a criminal conspiracy involving fraudulent banking transactions. Government funds were transferred to shell companies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YC65M7c via IFTTT
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