All Banking & Crypto Related Details

Jana Holdings plans to reduce its stake in Jana Small Finance Bank to below 10% from 17% to meet bondholder payment obligations, including to TPG Asia. This move will also see the holding company relinquish its 'promoter' status. The company recently received debt restructuring approvals, extending payment deadlines to December 2026, with bondholders like TPG Asia acknowledging the planned equity sale strategy. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lI3OgcD via IFTTT

In its bi-annual Financial Stability Report, the RBI flagged concerns over customer service in the insurance sector and again cautioned that rising interconnectedness among financial institutions could act as a potential channel for contagion. The report noted that cybersecurity risks have emerged as a key financial stability concern. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/m3hbNKx via IFTTT

HDFC Bank is set to appoint Jigar Shah as its new General Counsel, bringing over three decades of legal and compliance expertise from the financial services sector. Shah, formerly with KKR and JPMorgan Chase, will officially take on the role in October 2026. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Axvz1XJ via IFTTT

HDFC Bank has appointed Puneet Sharma as its new finance chief, following his resignation from Axis Bank. Sharma, who will officially become CFO on December 1, 2026, brings extensive experience from his previous roles at Tata Capital and Citibank. His departure from Axis Bank, where he served as Group Head and CFO since March 2020, was announced on June 28. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nSXgEaT via IFTTT

Axis Bank's Chief Financial Officer, Puneet Sharma, has resigned to pursue new professional opportunities. Sharma, who has been with the bank since March 2020, will step down on August 31. He previously held significant roles at Tata Capital and Citibank. The bank expressed gratitude for his contributions and wished him well for the future. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jZiP9lN via IFTTT

Indian banks are poised for improved interest margins this quarter, thanks to the Reserve Bank of India's liquidity-boosting measures. These initiatives are driving down the cost of short-term funding, with certificate of deposit rates already seeing significant drops. Experts anticipate further easing, suggesting banks can now secure funds more affordably, directly benefiting their profitability and allowing for cheaper refinancing of existing debts. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/u4ZeLrs via IFTTT

Unlock better returns on your savings with high-interest accounts, offering more than just secure fund storage. These accounts provide easy access to your money, making them ideal for emergency funds and short-term goals. Benefit from convenient digital banking features and cultivate stronger saving habits. Discover how these accounts can boost your financial discipline and help your money grow efficiently. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cYXksHC via IFTTT

HDFC Bank's board is poised to reappoint Sashidhar Jagdishan as MD & CEO for a third term following external legal reviews clearing the bank of concerns raised by a former chairman. While the board and Macquarie Capital support Jagdishan, the RBI's approval remains crucial, with analysts noting the regulator may consider broader factors. The bank's elevated loan-to-deposit ratio, a post-merger challenge, is also a point of consideration. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EwOqlUt via IFTTT

Former HDFC Bank Chairman Atanu Chakraborty refutes the bank's claim of non-cooperation with an external legal review post his resignation. He asserts he repeatedly sought the review's terms of reference and legal basis but received neither. Chakraborty describes his resignation as a "call of conscience" for board introspection, deeming the external inquiry "superfluous" and an "exercise in futility." from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fRhlus8 via IFTTT

In a surprising announcement, Ashok Vaswani, CEO and Managing Director at Kotak Mahindra Bank, has decided to step down on December 31, 2026, opting not to pursue reappointment for personal reasons. The bank, recognized as India's fourth-largest private lender, is now actively seeking a new leader to chart its path ahead. This transition will undoubtedly redefine the bank's direction as it enters a new era. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/aYFCRGy via IFTTT

Former HDFC Bank chairman Atanu Chakraborty has questioned the necessity of an external legal review into his resignation, stating the bank never clarified the investigation's scope or legal basis. He declined to participate, citing a lack of response to his requests for terms of reference. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JkIAdB3 via IFTTT

Bank credit growth stayed steady at 17.7% for the fortnight ended June 15, unchanged from the previous period, while deposit growth eased slightly to 12%, RBI data showed. Both credit and deposit growth remain stronger than a year ago, when they stood at 9.6% and 10.4% respectively. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UZz51tA via IFTTT

Punjab National Bank is set to prioritize retail, agriculture, and MSME lending, alongside boosting low-cost deposits to fuel growth. MD and CEO Ashok Chandra highlighted the bank's strong financial position and commitment to digital expansion and customer service. PNB aims to contribute to India's 'Viksit Bharat' vision by 2047, integrating ESG principles for responsible and sustainable development. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/yD7eKOU via IFTTT

The Reserve Bank of India has opened the term money market to All India Financial Institutions and housing finance companies, allowing them to borrow and lend. Prudential borrowing limits for primary dealers have also been significantly increased. These moves aim to deepen market participation and improve liquidity, ultimately strengthening monetary policy transmission by linking short-term and long-term interest rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xMFN1jY via IFTTT

Axis Bank is seeking shareholder approval to raise a substantial Rs 55,000 crore in FY27, comprising Rs 20,000 crore via equity and Rs 35,000 crore through debt. This move supports the bank's ongoing strategy to bolster its balance sheet by aggressively mobilizing deposits. The bank is focusing on acquiring new premium customers and deepening relationships with existing ones to drive growth and enhance customer value. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rS8pFc5 via IFTTT

The Reserve Bank of India has updated foreign exchange exposure rules for banks. These changes simplify calculations by merging onshore and offshore positions and allow inclusion of overseas earnings. Crucially, banks can now exclude certain long-term foreign currency investments, potentially boosting trading capacity. Forex risk capital will be based on actual net open positions, with gold treated separately. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zLgFcmt via IFTTT

Public sector banks are developing new loan products up to ₹1 lakh for street vendors, aiming to help them build credit histories and transition to larger Mudra loans. This initiative bridges a gap in micro-credit, enabling vendors to scale their businesses. The government is also pushing for Grameen Credit Score integration to improve access to formal credit for first-time borrowers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8aFHTtw via IFTTT

Bank of India aims to raise approximately $3.5 billion through foreign currency deposits and overseas borrowings, leveraging recent RBI measures. This strategic move, including $1 billion from FCNR(B) deposits and $1.5 billion via concessional swap facilities, is expected to reduce borrowing costs by 50-60 basis points. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jo7pq3u via IFTTT

Banks are boosting credit to renewable energy projects, with a 7% jump in April, as global conflicts highlight India's reliance on oil. This surge in funding for green energy underscores the nation's commitment to energy transition. Experts note a growing demand for climate finance, urging banks to develop specialized underwriting for sunrise sectors like solar and green hydrogen, which are poised for significant growth. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ve2dDFh via IFTTT

Banking system liquidity slipped into deficit for the first time in three months, falling to ₹19,971 crore on Monday from a surplus of ₹30,685 crore a day earlier, mainly due to advance tax outflows. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Yb2eLkV via IFTTT

The Reserve Bank of India has enhanced credit access for MSMEs by allowing financiers on TReDS platforms to secure guarantee cover for financed receivables. This move aims to reduce credit risk, boost lender participation, and improve liquidity in the receivables financing ecosystem. The revised framework also streamlines onboarding, permits insurance cover, and strengthens the legal enforceability of TReDS transactions, fostering a more robust marketplace for working capital. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gSft7yY via IFTTT

Kotak Mahindra Bank is actively pursuing acquisitions, including loan portfolios and alternative assets, to deploy surplus capital and fuel growth. CEO Ashok Vaswani aims for the bank to become India's third-largest private lender by profit. The bank is also investing heavily in technology and AI to enhance efficiency, expecting workforce growth to lag behind balance-sheet expansion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VkMmDE3 via IFTTT

The Central Bureau of Investigation (CBI) has arrested Pankaj Aggarwal, IAS on Monday who was the then Principal Secretary in Department of School Education and Agriculture, in connection with the misappropriation of government funds from the account of Haryana School Shiksha Pariyojna Parishad (HSSPP) and Haryana State Agriculture Marketing Board (HSAMB) maintained with the Sector 32, Chandigarh branch of IDFC First Bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YyalM4F via IFTTT

RBI Governor Sanjay Malhotra urged banks to embrace digital transformation and view MSMEs as vital partners, not just compliance. Speaking at International MSME Day, he stressed investing in technology, R&D, and innovation for entrepreneurs. Malhotra highlighted the need for financial institutions to leverage digital infrastructure like Account Aggregator and ULI for efficient, data-driven credit. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zL3dG7j via IFTTT

India's financial landscape is rapidly digitizing, with smartphones becoming central to everyday money management. Once separate, banking and investment activities now converge on single platforms, making financial planning more accessible. This shift, driven by convenience and proximity, empowers millions entering formal finance to make informed decisions, transforming income into resilience and savings into wealth. The smartphone is emerging as a key guide in this evolution. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/I0lyjtK via IFTTT

Indian banks are seeking clarity from the RBI on allowing overseas branches to lend to non-residents for FCNR(B) deposits. Some lenders, like SBI, have already launched structured products enabling this, with deposits as collateral. Bankers hope for explicit regulatory comfort to boost NRI deposits before a special RBI window closes in September, potentially offering significant leveraged yields. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/p6eLJ9N via IFTTT

The Reserve Bank of India has revamped the Lead Bank Scheme to boost district-level credit planning and financial inclusion. New guidelines, released on June 19, aim to enhance credit flow to priority sectors and improve access to financial services. A three-tier committee structure has been introduced to strengthen coordination between banks and government agencies, with Lead Banks now appointing dedicated managers to oversee scheme implementation across all districts. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NHETChF via IFTTT

State Bank of India's chairman believes the bank is undervalued, citing improvements in financial strength, customer base, and earnings. He highlighted the success of the Yono digital platform, strengthened capital position, and the significant growth in value from its subsidiaries. SBI is also focusing on technology adoption, including AI, and sees opportunities in power, MSME, and retail lending, positioning itself for future growth despite evolving funding landscapes. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zqAG769 via IFTTT

PhonePe clarifies inactivity fees apply solely to its prepaid wallet, not linked bank accounts or UPI transactions. Users receiving notifications despite app usage are reminded wallet and UPI activities are tracked separately. The company assures no deductions from bank accounts or negative wallet balances, offering 15 days' notice for users to reactivate, withdraw, or close their wallets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ts1HOjK via IFTTT

Major Indian banks, including SBI, Axis Bank, and Bank of Baroda, alongside Power Finance Corporation, are set to raise over $2 billion from overseas markets next week. This move capitalizes on the Reserve Bank of India's 1.5% fixed-rate swap incentive for external commercial borrowings, aimed at bolstering the rupee. HDFC Bank's recent successful dollar bond sale has spurred this wave of fundraising. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/d1HegkN via IFTTT

PhonePe is now charging a Rs 100 quarterly fee for inactive wallets. This fee applies if users have not made any financial transactions through the PhonePe Wallet in the past 365 days. The charge supports platform improvements. Users receive multiple notifications before the fee is deducted. A single wallet transaction reactivates the account and avoids the charge. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ywoPa1K via IFTTT

The Central Bureau of Investigation (CBI) has conducted searches on Wednesday, at 8 locations in Kolkata, West Bengal, in connection with three separate cases registered against Tantia Construction Ltd., Brahm Alloys Ltd. and Amrit Feeds Ltd. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SPClDo1 via IFTTT

To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire hedging cost on deposits mobilised under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme. In line with the RBI's expectations, banks are passing on almost the entire benefit to depositors, making these deposits more attractive. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4tC25ka via IFTTT

The Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its deteriorating financial condition. The bank's inability to meet its obligations and its lack of adequate capital and earning prospects led to this decision. Approximately 97.9% of depositors are expected to receive their full deposit amounts from DICGC upon liquidation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lUghD8C via IFTTT

Credit access for bottom-of-the-pyramid borrowers in India has slowed as microfinance lenders turn cautious after two years of asset quality stress, increasingly favouring customers with established credit histories. A joint SIDBI-Equifax study shows the share of new-to-credit borrowers fell sharply to 20% from 33% three years ago, reflecting tighter risk filters. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jp5bZo7 via IFTTT

Axis Bank assures its digital systems are secure. The bank states cyber fraud largely occurs when customers are tricked by external communications, not due to weaknesses in its own cybersecurity. Officials highlighted that advanced AI models like Mythos can accelerate vulnerability discovery. Axis Bank is enhancing its response to identified weaknesses and deploying new security tools to protect customers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IT4CcB8 via IFTTT

HDFC Bank's board meets June 18 to review legal findings on Atanu Chakraborty's concerns. Preliminary reports suggest no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval. Mistry's term ends June 18. The bank awaits the central bank's response on the extension request. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ObiERCu via IFTTT

Indian state-owned banks witnessed a significant rise in green deposits during FY26. This growth reflects growing depositor interest in sustainable finance. The Reserve Bank of India's Green Deposit Framework, introduced in 2023, has played a key role. Banks are channeling these funds into environmentally friendly projects like renewable energy and clean transportation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7vKmBPA via IFTTT

The reviews were prompted by former Chairman Atanu Chakraborty's dramatic March 18 resignation, a decision he had said in a letter to the exchanges was prompted by alleged deviations 'incongruent' with his ethics and value systems. The reference to possible ethical transgressions at the country's most-valued lender by Chakraborty, a former Secretary at the Department of Economic Affairs and a retired IAS officer, sent shockwaves through India's banking establishment and caused an immediate slide in the stock. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GpxyOrQ via IFTTT

Former NITI Aayog vice chairman Arvind Panagariya urges the government to revive privatization of public sector undertakings and banks. He believes this is crucial for India's economic reforms. Panagariya also suggests establishing a dedicated privatization ministry to speed up disinvestment. He notes that foreign investors remain positive about India's long-term growth prospects despite recent capital outflows. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1rxCz9h via IFTTT

DBS Bank's CEO views India as a significant long-term growth opportunity. The nation can benefit from the AI-driven demand for hardware. However, India must invest in its people and education to seize this potential. DBS remains committed to India, increasing investments in wealth management and client connectivity. The bank sees strong future prospects for the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mTnj65J via IFTTT

India's market regulator, SEBI, is creating rules for artificial intelligence in financial markets. SEBI chief Tuhin Kanta Pandey announced this plan. AI can help with surveillance and fraud detection. However, it also poses risks like bias and data protection issues. SEBI will issue guidelines for responsible AI use. The regulator will also consider international recommendations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/eEfGgTU via IFTTT

RBL Bank has appointed Bhavin Lakhpatwala as its new Chief Financial Officer. Lakhpatwala joins from HDFC Bank, bringing over 25 years of finance experience. This appointment fills a vacant position and comes as Emirates NBD moves to acquire a controlling stake. The new CFO is expected to guide the bank through its ownership transition and future growth phase. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/tqcV3TI via IFTTT

Banks are urging the RBI to clarify regulations for the new FCNR deposit scheme, aiming to attract diaspora funds. They seek a tweak in wording to allow Non-Resident Indians to leverage multiple times for investments, crucial for the scheme's success in arresting the rupee's slide. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mBeIo6W via IFTTT

Punjab National Bank and Ujjivan Small Finance Bank have raised interest rates on FCNR(B) USD deposits for Non-Resident Indians. This move follows the RBI's announcement of a foreign currency swap window. Bank of Baroda has also introduced a new retail term deposit scheme for resident Indians. These initiatives aim to attract foreign capital and offer attractive returns to depositors. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/w429hqd via IFTTT

The government is enhancing rural credit by integrating the Grameen Credit Score with the JanSamarth portal for faster loan processing. Regional Rural Banks will expand their customer base and diversify into investment credit, while also promoting digital lending platforms like e-KCC to boost financial inclusion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jYhaEMe via IFTTT

Bank credit saw a strong 17.44 percent growth in May. This marks the ninth straight month of double-digit expansion. Demand for loans from individuals and businesses remains high. Credit growth has consistently stayed above 13 percent since January. The Reserve Bank data shows a sustained upward trend in lending. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iUMgGLy via IFTTT

Eight public sector banks, including SBI, collectively added 13,223 employees in FY26, boosting their total workforce to over 6.28 lakh. State Bank of India led the hiring surge, accounting for nearly 67% of the new positions. This expansion occurs despite digitalization, indicating a continued reliance on human resources for growth and customer service. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AdMIYnw via IFTTT

Interest rates on short-term financial instruments like Certificates of Deposit are poised to decrease across India. This anticipated drop, estimated at 75-100 basis points by July, follows large public sector units and banks tapping overseas loans and deposits. This influx of foreign funds is expected to cool domestic yields and ease borrowing costs for businesses and the government. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/t1uMloi via IFTTT

With India's DPDP framework taking shape, forward-looking financial institutions are turning privacy into a competitive advantage with support from HabileLabs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DLYKZ39 via IFTTT

The Bombay High Court has rejected an interim plea by Lilavati Hospital's trust, which sought to prevent HDFC Bank from making public statements regarding a loan dispute. The trust had sued for ₹1,000 crore, alleging defamation by the bank's online posts. The court cited the trust's history of media campaigns against the bank as a reason for dismissal. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ebkf4zA via IFTTT

Canara Bank has recovered over half of its ₹500 crore exposure to Rajesh Exports and is pursuing legal avenues for the remaining amount. The bank's CEO highlighted reducing the cost-to-income ratio and increasing low-cost deposits as key priorities to boost profitability and manage rising deposit costs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ARfOhpu via IFTTT

HDFC Bank has raised its lending rates. The Marginal Cost of funds-based Lending Rate or MCLR will increase by up to 10 basis points. This change is effective from June 8, 2026. Most consumer loans like auto and home loans will be impacted. This move follows the Reserve Bank's decision to keep interest rates unchanged. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RqzBlcN via IFTTT

As per RBI data, bank deposits stood at ?256.9 lakh crore as of May 15, 2026, registering a year-on-year growth of 12.2% - well above the 10% growth recorded in the corresponding period last year - with time deposits leading the charge, rising 12.3% to ?225.2 lakh crore and accounting for 87.7% of total deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XPLSb31 via IFTTT

The Reserve Bank of India is introducing a dollar-rupee swap facility for banks. This move aims to help state-run firms and lenders hedge their foreign currency borrowings. The facility will be available at a fixed cost of 1.5% per annum. This initiative is expected to encourage significant inflows into the FCNR-B window. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3yzhiW8 via IFTTT

SBI presented a dividend cheque of Rs 8,813 crore for the financial year 2025-26 to Union Finance Minister Nirmala Sitharaman. This payout follows SBI's strong financial performance for FY26. The bank reported a net profit of Rs 80,032 crore and an operating profit of Rs 1,23,015 crore. SBI's overall business crossed Rs 109 trillion during the year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VepqYPH via IFTTT

Banks will now encourage more foreign currency deposits. The Reserve Bank of India will cover all hedging costs for these deposits. This move aims to attract significant foreign currency inflows. Industry estimates suggest up to $40 billion could be raised. These measures will strengthen India's foreign exchange reserves. This will help manage rupee depreciation pressures. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IkSEYMl via IFTTT

Citi is leveraging AI to revolutionize its payments business, enhancing developer efficiency by up to 40% and streamlining complex cross-border documentation. The financial giant is deploying AI for client servicing and risk management, processing $6 trillion daily. India's sophisticated payment infrastructure, including UPI and the JAM trinity, offers global lessons in real-time, cost-effective transactions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MKsjx38 via IFTTT

India’s locker economy is booming amid rising gold prices and household wealth. While banks remain the preferred repository, private vault operators are entering the scene and the rich in gated societies are creating their own treasure chests at home. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iVp5cqg via IFTTT

The Reserve Bank of India will soon release an updated list of upper-layer non-banking financial companies. This comes as Tata Sons has requested to be removed from this category. The central bank is examining this request. The new list will be finalised shortly. This update is crucial for financial sector regulations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/y9F2rov via IFTTT

The Reserve Bank of India is now covering all hedging costs for banks raising foreign currency deposits. This move aims to make these deposits more attractive to overseas depositors. Banks expect to offer higher interest rates, potentially up to 100 basis points. This initiative seeks to increase dollar inflows through banking channels and revive interest in FCNR(B) deposits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/qibBc6r via IFTTT

A forensic review has confirmed a Rs 646 crore fraud at IDFC First Bank's Chandigarh branch was an isolated incident. The fraud involved collusion between bank employees, government officials, and third parties. The bank has paid back the principal amount and interest. IDFC First Bank has implemented new controls to prevent future collusion risks at the branch level. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kVpDh0o via IFTTT

Reserve Bank Governor Sanjay Malhotra stated that paying interest rates higher than disclosed is unacceptable to the central bank. While acknowledging healthy competition for deposits, he stressed the need for transparency from banks. Malhotra also indicated an upcoming updated list of upper layer NBFCs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/i6X5mgt via IFTTT

The Reserve Bank of India permits banks to offer different interest rates on deposits. These rates must be transparent and follow specific rules. This comes after allegations that HDFC Bank routed differential interest payments to a state agency through its marketing budget. HDFC Bank has denied these claims, stating its internal controls are strong. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9Z7o21n via IFTTT

HDFC Bank is facing a barrage of governance allegations and panic. However, court relief and regulatory reassurances indicate no material adverse findings. Separate developments have been combined to create a perception of failure. Key facts counter this narrative, suggesting a deliberate effort to damage the bank's reputation. The bank remains systemically critical and financially sound. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/K0hRELb via IFTTT

A confidential PwC review of IndusInd Bank's treasury operations revealed significant accounting irregularities. Manual entries were used to mask over ₹2,200 crore in trading losses, inflating profits and assets by ₹1,817.58 crore. The report highlighted a disconnect between the bank's risk management and trading desks, leading to overstated financial figures. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HKletGv via IFTTT

Gunjan Samtani, co-chairman of Goldman Sachs India and head of its India global center, will retire by year-end after 16 years. Ken Castelino and Balaji Sivasubramanian have been appointed as co-heads to succeed him, overseeing the bank's tech and operations center in India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/49CuTNU via IFTTT

Central Bank of India plans significant recovery from bad loans exceeding Rs 3,500 crore in FY27. The bank will also introduce wealth management and credit card services in the latter half of the current fiscal year. Development of cash management services for corporate clients is also underway. These initiatives aim to boost the bank's financial performance and non-interest income. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XAOYzok via IFTTT

State Bank of India Chairman CS Setty anticipates a Reserve Bank of India interest rate pause to foster stable growth. He highlighted India's future economic expansion depends on boosting entrepreneurship, improving market access, and investing in its large young population. Banks must scale up financing for infrastructure, manufacturing, and green initiatives to meet ambitious targets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/7KwguN5 via IFTTT

Japanese banks are increasingly shifting their Asia strategy from China to India and Southeast Asia as slowing growth, rising costs and geopolitical risks reduce China's appeal. Over the past five years, Japanese regional banks have cut their branch presence in China by about 20%, while lending by Japan's three megabanks in the country has fallen by as much as 40%. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1Y8p3TX via IFTTT

Banks are flagging increased fraud and loan defaults within self-help groups. To combat this, lenders are suggesting mandatory unique registration numbers for groups and their members. A central registry for cross-verification is also proposed. This aims to improve transparency and track loan exposures effectively. The government is already monitoring SHG-bank linkages. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5kDsGJB via IFTTT

Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oEZ3tF0 via IFTTT

Unified Payments Interface transactions reached record highs in May. Summer travel and the IPL fueled this surge. Value and volume of transactions saw significant growth. This indicates strong organic demand and a maturing digital payment ecosystem. Future growth is expected from credit-on-UPI and cross-border transactions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/12jaS0T via IFTTT