All Banking & Crypto Related Details

State Bank of India has elevated eight Chief General Managers to Deputy Managing Director positions. These promotions align with the bank's annual cycle. New DMDs are being assigned departments as existing officials retire. Several retirements are scheduled between June and September. This strategic move ensures continuity in leadership across key banking functions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jqkAbcI via IFTTT

Fino Payments Bank is moving forward with its plan to become a small finance bank. The bank will focus on technology and secured lending, avoiding a traditional branch model. This transition is on track despite ongoing leadership reviews. Fino aims to offer home loans, gold loans, and business loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kZw7Gbq via IFTTT

The public sector bank's chief executive, Ashwani Kumar, told ET that its loan portfolio performance behaviour is healthy on a year-on-year basis. The bank's special mention accounts in the MSME portfolio having exposure of ₹1 crore and above reduced to 1.05% of the MSME loan book in March, at ₹487 crore, as against ₹582 crore in December 2025, he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/V7d2BF9 via IFTTT

Axis Bank announced a significant development today. The Reserve Bank of India has given its approval for Subrat Mohanty's reappointment. He will continue to serve as Executive Director for another three-year term. This new tenure is set to begin on August 17, 2026. Mohanty's extended role will conclude on August 16, 2029. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3fcyZ2z via IFTTT

The Reserve Bank of India has launched Mission SAKSHAM. This initiative aims to build capacity across all urban cooperative banks nationwide. Approximately 1.40 lakh participants will undergo training. The program will enhance managerial and operational skills. It also focuses on improving compliance and strengthening institutional resilience. Board members, senior management, and employees in critical functions will benefit. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5EKw4dx via IFTTT

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

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

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

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

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

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

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

Finance Minister Nirmala Sitharaman has directed the Indian Banks' Association to help banks combat emerging cybersecurity threats from Anthropic's Claude Mythos AI. SBI Chairman Challa Srinivasulu Setty will lead these efforts. Banks will explore investments and technologies, including AI, to counter this new AI-borne challenge. The Ministry of Electronics and Information Technology is actively engaging with global partners on preparedness. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hwmyZJ2 via IFTTT

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While imposing a penalty on Bandhan Bank, the RBI said the bank failed to carry out periodic review of risk categorisation of certain categories of accounts, and had sanctioned director-related loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5bSRCLA via IFTTT

Indian banks face new artificial intelligence cyber threats. Finance Minister Nirmala Sitharaman urged a proactive approach. Banks will collaborate to identify vulnerabilities and adopt new technologies. AI itself may be used to combat AI-driven attacks. This initiative aims to strengthen cybersecurity defenses. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/F1T9maQ via IFTTT

The Reserve Bank of India is navigating global economic hurdles and geopolitical conflicts. Deputy Governor Poonam Gupta explains the central bank's approach to managing growth and inflation. India's economy shows resilience, with a focus on domestic stability. The RBI is closely monitoring external factors while maintaining its inflation targeting framework. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/njIpRBk via IFTTT

In recent times many resident individuals, banking with various financial institutions, have used cards to carry out such international capital account transactions-oblivious that they were violating foreign exchange and banking rules. Some probably did it consciously to dodge the tax collected at source (TCS) or sidestep restrictions on overseas forex remittance. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dgDL5bf via IFTTT

State Bank of India Chairman CS Setty foresees artificial intelligence revolutionizing financial markets. AI will enhance risk management and operational efficiency. Institutions like Clearing Corp of India will become pre-emptive risk managers. The future demands intelligent scale and agile systems. Cybersecurity and resilience remain paramount as digitization advances. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5Xo32aW via IFTTT

State-owned Punjab National Bank has partnered with Kiwi to launch the RuPay-based PNB Kiwi Credit Card. It offers digital onboarding, UPI integration and 0.5–1.5% cashback. The move aims to expand credit access, especially in semi-urban and rural areas, amid rising UPI adoption. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jaSsYHT via IFTTT

Bandhan Bank has secured prior approval from the Reserve Bank of India for Debasish Panda's appointment as its part-time chairman. Panda's tenure will span three years, commencing from the date he assumes charge. This strategic move follows Panda's extensive experience in the financial sector, including his previous role as chairman of IRDAI. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jbutgG0 via IFTTT

India's central bank is actively engaging with global counterparts and local institutions to assess potential cybersecurity threats from Anthropic's new AI model, Mythos. The Reserve Bank of India is exploring safeguards and may seek direct access to the AI to identify vulnerabilities, emphasizing data localization for Indian customer information. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YX4pjfE via IFTTT

Cybercrime is undermining the traditional trust associated with bank brands, forcing a reevaluation of communication strategies. Current anti-cybercrime campaigns often blame victims, failing to address systemic weaknesses and eroding customer confidence. Banks must invest in real-time fraud prevention and demonstrate genuine intent to protect customers, rebuilding credibility through consistent action rather than just advertising. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/X4qPDj6 via IFTTT

HDFC Bank posted a strong FY26 performance despite recent governance-related headlines and leadership changes, with CreditSights noting that these developments are unlikely to have any meaningful impact on its credit profile or stability. The bank reported a 10.9% rise in net profit to Rs 74,700 crore, supported by 12.1% loan growth, robust deposit mobilisation, and continued best-in-class asset quality, with gross NPAs falling to 1.15% and credit costs at multi-quarter lows. Capital buffers remained strong with a CET1 ratio of 17.3%, underscoring resilience even as external macro risks persist. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DertT1U via IFTTT

The State Bank of India is asking the Supreme Court to reconsider a recent ruling. The judgment prevents telecom spectrum from being treated as an asset during insolvency. SBI warns this could significantly impact banks and infrastructure financing. The bank argues the ruling overlooks key issues for lenders. This decision affects recovery prospects in various regulated sectors. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/z0l4WoV via IFTTT

DBS Bank India has launched DBS Aspire, a new banking proposition targeting the emerging affluent segment with a total relationship value of ₹10 lakh or a ₹2 lakh average savings balance. The offering provides premium banking access, including a dedicated relationship manager and zero forex mark-up on international spends, aiming to be a long-term partner as customers grow their wealth. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FJN9snI via IFTTT

PNB Housing Finance has guided for 18–20% loan growth this fiscal, up from 15% in FY26, and expects no impact on housing demand from the West Asia crisis. The lender targets a ₹1 lakh crore loan book by FY27, led by affordable and emerging segments, while margins are seen at 3.55–3.65%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/sq5324P via IFTTT

The Serious Fraud Investigation Office is investigating IndusInd Bank's derivatives portfolio. Major audit firms associated with the bank over the last decade have been summoned. This probe follows questioning of former bank officials. The irregularities are estimated to have caused losses of around ₹2,000 crore. The investigation aims to uncover corporate governance issues and accounting discrepancies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/b4cT3lA via IFTTT

Indian banks are preparing for a quantum computing future. The finance ministry has asked public sector banks to explore quantum-resistant encryption. This move aims to secure financial systems against future threats. Experts warn quantum computers could break current encryption. India's National Quantum Mission is also building a quantum communication network. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/j3vWRtk via IFTTT

Indian banks anticipate robust non-food credit growth of 11-13% from January-June 2026, driven by improving balance sheets and steady economic activity. Retail and SME segments are expected to lead this expansion, while industrial credit will see a more measured recovery. Most bankers foresee a stable monetary policy stance. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3WtiOHh via IFTTT

Global development banks are joining forces to help countries navigate economic challenges. They are combining resources and knowledge to manage immediate pressures and build future resilience. The banks are ready to provide timely support to manage risks and protect vulnerable populations. Collaboration will focus on private sector growth, job creation, and sustainable development. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AMLdunZ via IFTTT

India has authorized 17 banks to import gold and silver. This authorization is effective for three years from April 1, 2026. The move resolves a customs clearance delay that had stalled shipments. This decision brings relief to importers and ensures smooth trade of precious metals. The new authorization is valid until March 31, 2029. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FGEmBdb via IFTTT

Women are actively managing their wealth but face a 'Fluency Gap' in financial guidance. A new HSBC report reveals affluent women are intentional about finances from their 20s. However, fewer than half feel supported by advisors. The study calls for personalized, adaptable advice that evolves with women's changing life stages and priorities. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6OYghAq via IFTTT

Indian banks are now requiring corporates to provide documentation for dollar forward transactions. This move follows recent currency volatility and new regulations. Banks are scrutinizing clients and setting limits based on past performance. The Reserve Bank of India has not mandated this, but banks are taking extra precautions to avoid FEMA violations amid a dollar crunch. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5coQwu6 via IFTTT

Bank credit saw a significant 16% rise, reaching ₹219 lakh crore. Deposits grew 13.4% to ₹267.8 lakh crore by March 31, 2026. Investments also increased by 4.7%. This year-end surge in deposits and credit is a common trend. In the last fortnight alone, banks gathered ₹12 lakh crore in deposits and lent ₹6.1 lakh crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CnZWxGa via IFTTT

The Reserve Bank of India has eased rules for non-banking financial companies. NBFCs can now open branches without prior approval in most situations. This change aims to simplify business operations. Deposit-taking NBFCs have specific conditions based on their net owned funds and credit ratings for opening branches or appointing agents. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FXY28D1 via IFTTT

Reserve Bank of India is consulting banks on ways to attract larger and more stable deposits as household savings shift to equities and mutual funds, putting pressure on liquidity. Deposits are growing slower than loans, increasing funding costs and credit-deposit ratios. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZVEQbMt via IFTTT

Since the start of the calendar year, major devaluations have hit multiple premium and super-premium cards, shocking the high spenders. No card has been spared, be it the ICICI Emeralde Private Metal (removal of some vouchers for accelerated rewards), American Express Platinum Travel (higher spend milestones for bonus rewards), or Axis Bank (removal of three popular transfer partners without advance notice). HDFC Bank, too, has asked its Infinia customers to clock in annual spends of at least Rs 18 lakh or maintain a total relationship value of at least Rs 50 lakh to retain the by-invite-only metal. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kB9jtq3 via IFTTT

HDFC Life CEO Vibha Padalkar’s journey reflects resilience shaped by early family influence and a belief in long-term thinking. After early career rejections and a move to London at 17, she built a career in financial services and has led HDFC Life since 2018 through key transitions while sustaining steady growth and expansion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/saZHKdq via IFTTT

As the demand for loans skyrockets, Indian banks find themselves grappling with a challenge: enticing savers to deposit their money. For years, growth in deposit accounts has lagged behind credit advances, prompting banks to ramp up their offers with more attractive interest rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mAsTWc1 via IFTTT

Reserve Bank Deputy Governor Swaminathan J cautioned about AI in finance, saying that without proper safeguards, AI adoption can worsen existing issues and introduce new harms. While AI offers benefits like improved customer service and credit delivery, it also presents risks such as bias, opacity and data privacy concerns, he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uwaH4QK via IFTTT

Non-banking finance companies anticipate strong growth in the upcoming quarter. However, rising funding costs may limit profit margins. Analysts are closely monitoring asset quality for potential stress in the coming months. The impact of global events on consumer demand and specific sectors is a key concern. NBFCs are preparing for these challenges. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1DSRwT6 via IFTTT

CreditAccess Grameen, a leading NBFC-MFI, is shifting focus from microfinance to secured lending like home loans. The company aims to become a Rs 50,000 crore entity by 2028, with a significant portion from retail finance. It is actively exploring acquisitions to accelerate growth in its secured business segment. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/clpDjuh via IFTTT

Banks financing carbon-heavy industries face growing credit risks. Research from IIM Lucknow shows this exposure leads to higher monitoring and recovery costs over time. Financial institutions must align lending with a low-carbon economy. Stronger capital buffers help banks manage these climate-related risks. Transitioning to greener portfolios benefits both the environment and business. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1JgyEBt via IFTTT

Indian banks are poised for resilience despite global uncertainties. However, persistent external risks may impact their profit margins and liquidity. The nation's lenders begin this phase from a strong footing with improved asset quality. Higher energy prices and tighter liquidity could gradually affect profitability and borrower repayment capacity. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NxwBZYR via IFTTT

Banks are seeking RBI approval for parallel internal investigations alongside law enforcement probes into borrower accounts. This aims to prevent discrepancies in fraud classification due to limited information sharing. Lenders are also strengthening internal frameworks, including early warning systems, to enhance fraud detection and consistency. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/68YA5kW via IFTTT

Banks may soon see their capital positions improve. The central bank proposes to remove the Investment Fluctuation Reserve. This move could help lenders recover losses on bond investments. Accumulated reserves might transfer to core capital. This could boost lending capacity for banks. The proposal is open for public comment. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OLwBt3V via IFTTT

The CBI has taken over a major investigation into the alleged embezzlement of Rs 550 crore from Haryana government accounts. Funds were reportedly siphoned off through fraudulent banking operations and fictitious transactions. Shell entities and associated firms are under scrutiny. The probe involves public servants and banking officials. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/WtVdaoQ via IFTTT

The Reserve Bank of India is exploring new measures to curb digital payment fraud. A key proposal suggests a one-hour pause for large transactions above ₹10,000. This aims to break fraudsters' psychological hold on victims. Other options include trusted person authentication for seniors and disabled individuals, and a 'kill switch' for digital payments. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9u7I3Am via IFTTT

The CBI has launched an extensive inquiry into an alarming Rs 590 crore embezzlement scheme concerning Haryana's government funds. Reports indicate that employees from IDFC First Bank, alongside certain private entities, engineered a diversion of funds into phantom enterprises and jewelry ventures. The investigation points to a web of financial transactions aimed at supporting lavish gold purchases and property deals. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/w3MxaDe via IFTTT

Indian banks saw their bad loan ratio drop to 2% by December 2025. This improvement spans across retail, services, industry, and agriculture sectors. Bank credit growth accelerated to 13.8 percent year-on-year by March 2026. The Reserve Bank of India noted no systemic concerns despite global supply chain disruptions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lrZMIqQ via IFTTT

The Reserve Bank of India has stated that HDFC Bank's board minutes and records are reviewed as part of its supervision. The central bank reiterated that no governance or conduct issues were found. RBI Governor Sanjay Malhotra confirmed no need to change existing rules. Deputy Governor Swaminathan J added that current events do not warrant regulatory tweaks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IwgvWsR via IFTTT

The Reserve Bank of India has stated that its supervisory inspections of HDFC Bank revealed no governance or conduct issues. Governor Sanjay Malhotra confirmed this, noting that the RBI reviewed meeting minutes and found nothing of material concern. HDFC Bank is described as a systemically important bank with sound financials and a competent management team. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DK40iIU via IFTTT

The Reserve Bank of India is set to update bank board guidelines with an aim to shift board focus from daily operations to policy matters. Central bank Governor Sanjay Malhotra announced the plan at his policy meet address. The move, which follows recent issues at HDFC Bank, will allow boards to dedicate more time to strategic policy decisions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wAoFUlh via IFTTT

"Collections fell by about two percentage points last summer, and we expect a similar dip this year," said the head of a non-bank lender, who did not wish to be identified. "Field visits will reduce, and some customers may seek deferments as business activity slows. Collection should normalise once temperatures ease." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bKjeWUL via IFTTT

Banks must act on early risk signals amid the West Asia war. EY suggests shifting exposure from vulnerable small businesses and retail borrowers. This involves focusing on stronger sectors and resilient portfolios. Early intervention through covenant resetting and liquidity buffer enforcement is crucial. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Zn0S4o8 via IFTTT

Government may seek revised financial bids for IDBI Bank. Original offers fell below the set reserve price. This strategic sale is crucial for government resources amid global uncertainty. The process is in the technical evaluation stage. Fairfax and Emirates NBD are potential buyers. The government and LIC aim to sell a significant stake. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/dKfumTr via IFTTT

The Supreme Court has issued a pivotal directive concerning the classification of bank accounts as fraudulent, opting not to allow personal oral hearings for customers involved in such decisions. Nonetheless, institutions are mandated to provide access to forensic audit reports, fostering a new level of accountability. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BuvSmwj via IFTTT

UCO Bank announced strong financial results for the January-March quarter of FY26. The state-owned lender saw its credit grow by 19 percent to Rs 2.62 lakh crore. Total deposits also rose by 11 percent, reaching Rs 3.27 lakh crore. Low-cost CASA deposits saw an improvement. The bank's total business expanded by 15 percent. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uileOJW via IFTTT

Banks are paying significantly higher rates for certificates of deposit, reaching near two-year highs. This reflects intense competition for funds and ongoing liquidity pressures. Several banks, including CSB Bank and Ujjivan Small Finance Bank, have offered elevated rates. This trend goes beyond seasonal year-end adjustments, indicating deeper funding challenges for lenders. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JWKZLpA via IFTTT

HDFC Bank has reported strong deposit growth, exceeding its assets under management expansion. This performance contrasts with the broader industry trend. The bank's current and savings account deposits also saw significant year-on-year growth. AU Small Finance Bank also experienced similar deposit growth outpacing its loan portfolio. This indicates a positive financial standing for these institutions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/tlYuIe4 via IFTTT

Bandhan Bank reported a collection efficiency of 98.9% for March, an improvement from December's 98.1%, with assets under management growing 12.6% year-on-year. The bank's micro loan portfolio saw its collection efficiency rise to 98.6%, while the non-micro loan book improved to 99.3%. Loan and advances reached Rs 1.54 lakh crore by fiscal year-end. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PYahl0d via IFTTT

AU Small Finance Bank reported a 22.8% year-on-year deposit growth to Rs 1.53 lakh crore at the end of March while its gross loan portfolio, which includes securitised loans, grew 21.3% year-on-year to Rs 1.40 lakh crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1E0ysIm via IFTTT

Low-cost bank deposits have fallen to a two-year low. This trend increases borrowing costs for banks. Savers are moving money to higher-return options like stocks and gold. Bankers anticipate an improvement as global uncertainty grows. This shift impacts bank profits and forces reliance on costlier funding sources. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5egLmCf via IFTTT

The All India Punjab National Bank Officers' Association has written to the bank's managing director. They are requesting reconsideration of mass transfers for Scale IV officers and above. The union states these transfers will disrupt operations and impact the performance of the country's second-largest public sector lender. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1ISzrJW via IFTTT

Banks own ethics panel found high number of regulatory breaches while onboarding clients; Deloitte, Kroll also had conducted probe. Funding is at odds with bank CEO's statement that these were technical lapses. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oFYy7Ah via IFTTT

The AIBEA said there is a need for HDFC Bank's 120 million customers, shareholders and also the general public to feel reassured, and hence sought Sitharaman's intervention in the matter. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/F4danEz via IFTTT

RBL Bank has secured crucial approval from the Reserve Bank of India for its deal with Emirates NBD Bank. This clearance is expected to initiate a mandatory open offer to shareholders as early as next week. Emirates NBD Bank is set to acquire a majority stake in RBL Bank, marking a significant foreign investment in an Indian lender. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kGywemt via IFTTT

The Reserve Bank of India has tightened foreign exchange rules. Banks can no longer offer non-deliverable forward contracts to clients. This move aims to support the Indian rupee. The new regulations also prevent banks from rebooking derivative contracts and dealing with related parties. These measures are effective immediately and could impact banks and corporate treasuries. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T6cjDQO via IFTTT

The Delhi High Court has declined to halt the 2024 performance-linked incentive scheme for senior public sector bank officials. Bank employee unions challenged the scheme, arguing it unfairly benefits a small percentage of the workforce and contradicts bipartite settlements. The court has requested responses from the government and the Indian Banks Association. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ADtTFys via IFTTT

Banks and telecom companies are developing a silent authentication mechanism to combat SIM cloning and eSIM swaps. This background check verifies mobile number and SIM card matches, flagging or blocking suspicious transactions in real-time without customer action. This move enhances security beyond traditional OTPs, aligning with new RBI mandates for two-factor authentication. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/E8ShFB3 via IFTTT

Indian Bank and four south-based private banks have announced robust financial results for the March quarter. Gross advances and deposits saw significant year-on-year growth. Lending to the RAM sector drove advances for Indian Bank. Private lenders also reported healthy expansion in advances and deposits, indicating a positive trend in the banking sector. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/sLZpagd via IFTTT

Axis Bank introduces a new digital feature for customers. You can now update your registered mobile number using Aadhaar-based face authentication directly on the mobile banking app. This eliminates the need for branch visits. The process involves three simple steps: entering your new number, completing face verification, and confirming with an OTP. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kd6xBLq via IFTTT

Banks' credit growth is projected to slightly slow to 13% in FY27, with a potential 0.20% rise in bad loans to 2.5% by March 2027, according to Crisil. MSME loans exposed to West Asia, along with micro-loans and unsecured advances, are key concerns. Other factors include Bihar's microfinance bill and Maharashtra's loan waiver impact. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9xwGbAC via IFTTT