All Banking & Crypto Related Details

Anup Kumar Saha has been appointed as the next Managing Director and CEO of Kotak Mahindra Bank. His term will commence on January 1, 2027, following Reserve Bank of India's approval. Currently a whole-time director, Saha brings over 32 years of experience in banking and financial services. He aims to enhance customer relationships and create sustainable value for stakeholders. The bank will seek shareholder approval to formalize his appointment. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FRH0CgO via IFTTT

Anup Kumar Saha has been appointed as the new Managing Director and CEO of Kotak Mahindra Bank. His tenure will start on January 1, 2027, and last for three years. Currently serving as an Executive Director, he has over 32 years of experience in financial services. He joined Kotak Mahindra Bank in January 2026 and previously handled multiple functions there. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SeVy02P via IFTTT

In August, the Reserve Bank's net short forward positions increased significantly to $200 billion. This rise follows a net short position of $136 billion recorded in July. Long dollar positions also saw an addition, indicating ongoing market adjustments. Economists suggest that the RBI is facing challenges in managing these short positions effectively. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PIMGbvK via IFTTT

RBL Bank said it received a showcause notice from Maharashtra GST authorities proposing a demand of over Rs 173.08 crore, including interest and penalty, over alleged wrongful input tax credit availment in FY23. The bank said it will respond and expects no material financial impact, citing favourable orders on an identical issue. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/oMBktOE via IFTTT

In August, banks lowered the weighted average rate on fresh rupee term deposits to 5.67%. At the same time, the average lending rate on new loans increased to 8.61%. Public sector banks experienced a decrease in deposit rates, while private banks faced a similar trend. Lending rates varied based on loan types, with personal loans seeing a significant increase. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9OAH8fa via IFTTT

HDFC Bank has appointed V.N. Srivatsan as its Chief Compliance Officer for a three-year term, effective from his joining date on January 4, 2027. Srivatsan, currently Head – Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank, has around 34 years of professional experience, including 25 years in BFSI. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/41SQeYZ via IFTTT

State Bank of India presented to the Joint Parliamentary Committee regarding the Foreign Contribution (Regulation) Amendment Bill. Officials raised concerns about gaps in foreign donation handling when registration lapses occur. They suggested that clear banking procedures be established for affected organizations. The bill proposed transferring compliance responsibilities to a government-designated authority in certain cases. Opposition parties criticized the bill for potentially disadvantaging minority groups and impacting foreign funding for NGOs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uaRJVwd via IFTTT

Credit Saison India is expanding its MSME lending portfolio by increasing secured loans, particularly in Tier 2 and Tier 3 towns. The company plans to raise the proportion of secured loans to 30% by the end of this fiscal year. With a current loan book of Rs 25,000 crore, it aims to open more branches across the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/LRmJWiq via IFTTT

Tax issues Levy of goods & services tax on MDR can be taken up by GST Council, ITC may be used by merchants. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/cuDiWh9 via IFTTT

Bank unions have decided to defer a planned three-day strike after discussions with the Indian Banks' Association. A new high-level committee will be formed to address important employee demands, including Saturdays as holidays. Union representatives aim to resolve concerns related to the Performance Linked Incentive scheme for higher-ranking officers. The Finance Ministry has encouraged dialogue for addressing unresolved issues while ensuring services remain uninterrupted. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5ZwJukf via IFTTT

SBI aims to harness digital banking and strengthen customer relationships as part of its growth strategy. The bank's total business could potentially reach Rs 200 lakh crore by 2030 as it celebrates its platinum jubilee. Chairman C S Setty highlighted the importance of customer protection alongside the digital transformation of banking services. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mD3B8ve via IFTTT

The share of high-value microfinance loans above ₹75,000 to individual borrowers rose to 41% in Q1 FY27, from 28% a year earlier, as lenders increasingly focused on existing borrowers with established credit histories. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6YfRLP8 via IFTTT

Axis Bank is set to launch an extensive outreach program across India, spotlighting tourism and hospitality sectors in Goa. The initiative plans to engage over 5,000 customers and honour approximately 1,000 entrepreneurs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/497fMjE via IFTTT

Bank credit growth reached a sixteen-month high, while deposits grew at a slower pace. This widened the credit-deposit gap, increasing funding pressure on banks. Finance sector lending, especially to NBFCs, drove credit expansion significantly. Public sector banks saw higher credit growth but less headroom. Deposit mobilization remains crucial for banks facing persistent competition for savings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kmVvsPo via IFTTT

By 2027, leadership transformations are set to take place across several key Indian banks, with HDFC Bank and Kotak Mahindra Bank leading the way. This wave of changes creates a competitive landscape for experienced banking professionals. It is vital for the boards to ensure they maintain continuity while injecting innovative strategies. As a result, succession planning has emerged as an essential concern for bank leadership. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/v5B9FRK via IFTTT

The Finance Ministry has announced that all Public Sector Banks and Regional Rural Banks will operate normally on September 27. This decision follows the United Forum of Bank Unions' proposal for a three-day nationwide bank strike. The government is focused on ensuring the banking needs of citizens are met without disruption. Customers can access banking services uninterrupted during this period for their convenience. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jdgtkHb via IFTTT

SBI, Bank of Baroda and Canara Bank have advised customers to complete important branch transactions in advance ahead of a proposed bank strike from September 28 to 30, 2026, and use digital and self-service channels during the period. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UL2FV4e via IFTTT

Its composition is being finalised and is likely to include a former Reserve Bank of India (RBI) deputy governor, industry leaders from the fintech sector and an Indian Banks' Association (IBA) nominee, said people familiar with the matter. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/a2AQBkq via IFTTT

Bandhan Financial Services will reduce its stake in Bandhan Bank gradually. The promoter aims to comply with RBI regulations by 2030. Recent share sales occurred on the open market, lowering holdings. A proposed stock split will divide shares to attract retail investors. Shareholders will review this plan at the upcoming annual general meeting. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3EVfBFZ via IFTTT

The Finance Ministry urged bank employees to resolve demands through dialogue and avoid strikes. Most union concerns have been addressed, and welfare measures are being introduced. A three-day strike is planned from September 28, impacting banking services. This strike coincides with the half-yearly closing of the banking sector. The government remains committed to employee welfare and constructive engagement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GId5wyR via IFTTT

The Reserve Bank of India has issued revised market risk capital requirements for commercial banks, aligning Indian regulations with Basel III standards. Banks must adopt the framework by April 1, 2027. The directions revise rules for trading books, foreign exchange risk, interest rate risk, debt funds and credit derivative hedges. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GwNotDY via IFTTT

A notable achievement for Indian banks occurred as they received USD 127 billion through a dedicated deposit scheme. This influx has significantly improved the funding environment and liquidity levels. Favorable interest rates lured substantial deposits from the diaspora, ultimately fortifying banks' funding stability. This positive trend in deposits could enhance balance sheets by USD 190-220 billion, bridging any existing asset-liability gaps. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mQU3YVa via IFTTT

Banks are developing a common framework for project finance lending. This initiative aims to curb regulatory arbitrage and operational misalignment among lenders. Discussions will involve state-run and private banks to establish common parameters. Such alignment will enhance risk mitigation and avoid divergent audit observations. Final guidelines by bank boards are expected to reduce regulatory arbitrage scope. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lhxFuHn via IFTTT

Financial services secretary Sanjay Lohia has called a meeting with public sector bank, RRB and NABARD heads on Monday to ensure uninterrupted banking services during a proposed three-day strike from September 28. AIBEA is demanding a five-day banking week and has warned of an indefinite strike from October 26 if its demand remains unresolved. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/73dKB9C via IFTTT

Finance Ministry will meet bank executives on Monday. They will discuss continuity of banking operations during a three-day strike. The United Forum of Bank Unions called the strike for September 28. This strike will impact banking services for five days. Bank unions demand a five-day banking week and pension updates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/djPD93g via IFTTT

Bank credit growth reached a sixteen-month high, while deposits grew at a slower pace. This widened the credit-deposit gap, increasing funding pressure on banks. Finance sector lending, especially to NBFCs, drove credit expansion significantly. Public sector banks saw higher credit growth but less headroom. Deposit mobilization remains crucial for banks facing persistent competition for savings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/vDfBt01 via IFTTT

SBI Research indicates FCNR(B) deposits may yield substantial profits for banks and the RBI. The report refutes earlier estimates of significant financial losses from the scheme. Mobilized funds could support additional bank credit and generate considerable interest income. Hedging costs are considered manageable, and the RBI could see added profitability. This scheme's liquidity will support credit demand amid outflows and prudent risk management. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VnAT0rL via IFTTT

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Tax issues Levy of goods & services tax on MDR can be taken up by GST Council, ITC may be used by merchants. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/OjJ0DhI via IFTTT

The World Bank mobilised $112 billion in private capital for developing nations last year. This significant increase reflects a strategic shift due to donor funding limitations. Private capital mobilisation now nearly matches the World Bank Group's own lending efforts. The bank employs various methods to de-risk and incentivise private investment. These efforts aim to bridge development financing gaps and foster job creation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/yl6XRkp via IFTTT

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India’s biggest private banks are finding it increasingly difficult to identify executives with the breadth of experience needed to lead large, complex institutions. HDFC Bank and Kotak Mahindra Bank’s CEO searches have highlighted a surprisingly narrow talent pool, as regulatory requirements, limited succession pipelines and competing financial sectors constrain potential candidates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/HyqAc54 via IFTTT

The Reserve Bank of India has clarified definitions for financial activity and core investment companies. This clarification follows the rejection of Tata Sons' application to surrender its registration. Companies must meet specific asset and income thresholds to be regulated by the central bank. Tata Sons, an unlisted holding company, now faces enhanced regulatory scrutiny. The central bank's decision effectively pushes Tata Sons towards a mandatory public listing. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/g5xqaZ0 via IFTTT

The Supreme Court mandated the RBI to enforce lawful vehicle repossession rules. Financial institutions cannot seize vehicles without due legal process. The court ordered a finance firm to close loan accounts and refund money. Compensation was awarded for mental agony and livelihood loss. This ruling ensures borrowers are not dispossessed of vehicles arbitrarily. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/k1CyDVU via IFTTT

In an exclusive interview with The Economic Times at the Global Fintech Fest 2026, Juspay’s Ishan Sharma reflected on 12 years of solving payments at population scale, the rise of agentic commerce and why Indian fintechs must aim for developed markets. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uEY8Rvp via IFTTT

Achieving a remarkable milestone, AU Small Finance Bank's vehicle loan portfolio exceeded Rs 50,000 crore in assets under management by August 2026. Since its inception in 1996, the bank has expanded its reach, assisting over 13.7 lakh customers nationwide. This segment not only leads AU SFB's lending activities but also represents a vital growth avenue, enhanced by the integration of cutting-edge analytics and automation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/QyG6fjW via IFTTT

State Bank of India is expanding its wealth management services to existing customers. The bank aims to manage significant investments for affluent clients. SBI is also developing new growth engines like acquisition financing. These initiatives are projected to enhance shareholder value over time. Analysts suggest these new ventures will take time to impact profits. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/73fsYmq via IFTTT

Bandhan Group has introduced its latest brand initiative, 'Bandhan Kaamyabi Ka,' heralding a transformative chapter in its journey as a comprehensive financial services provider. Celebrating 25 years of impactful growth, this campaign embodies the company's dedication to advancing the financial aspirations of individuals and enterprises alike, positioning itself as an enduring partner in financial development. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/iRnNta0 via IFTTT

SberMedAI's GigaDoc smart mirror provided free express health assessments at Innoprom India. This innovative solution analyzes key health indicators and potential risk factors conveniently. Companies can integrate GigaDoc into their employee prevention programs for proactive health monitoring. The technology utilizes artificial intelligence and computer vision for accurate health readings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MEQj1nG via IFTTT

India’s digital payments ecosystem is a “showcase for the world”. The infrastructure is ready to take the next leap: agentic commerce, where AI agents will make decisions and payments. For that to happen, however, trust is non-negotiable, and it has to be embedded into the architecture. Visa Group Country Manager, India and South Asia, talked about this and more with The Economic Times at the Global Fintech Fest 2026. Read on! from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/6xYlHDc via IFTTT

Banks will soon freeze only disputed transaction amounts, not entire accounts. AI systems will monitor unusual transfers of one thousand rupees or more. Customers get twenty days to prove transaction legitimacy with supporting documents. Banks then have ten days to assess explanations and lift holds. Law enforcement will have thirty days to issue formal restraint orders after referral. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/nexUVo7 via IFTTT

Banks want RBI approval to apply new rules for closing old trade deals. These unsettled transactions have accumulated to nearly one lakh crore rupees over time. New regulations, effective October 1, 2026, will empower banks to resolve these cases. This move aims to prevent exporters from facing caution listing for past unsettled trades. RBI deputy governor Rohit Jain will meet bank CEOs this week to discuss the matter. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9IyDKYE via IFTTT

Jammu and Kashmir Bank received a national award for its corporate social responsibility practices. The bank's commitment to sustainable social development was recognized at a Bengaluru event. J&K Bank has invested ninety-six crores in societal upliftment over three years. Its CSR programs focus on healthcare, education, and livelihood generation. The bank continues to expand its reach and deepen its social impact. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TwjAYxF via IFTTT

HDFC Bank's board has recommended two candidates for the next MD and CEO role. These proposed appointments are for a three-year term, pending regulatory approval. The bank also approved reappointment of V. Srinivasa Rangan as Executive Director. Jimmy Tata was also appointed as a Whole-time Director, subject to central bank approval. An additional Whole-time Director position will be created for improved oversight and succession planning. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/CdNkufc via IFTTT

Sberbank CEO Herman Gref announced plans for new financial and technology infrastructure tools. The bank will establish the largest Russian business hub in India, expanding its presence. Sberbank has been developing its financial business in India for sixteen years. Money transfers between India and Russia now take only minutes, improving business opportunities. Two office buildings are under construction and will be commissioned in 2028. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Xx6QBUu via IFTTT

By 2027, leadership transformations are set to take place across several key Indian banks, with HDFC Bank and Kotak Mahindra Bank leading the way. This wave of changes creates a competitive landscape for experienced banking professionals. It is vital for the boards to ensure they maintain continuity while injecting innovative strategies. As a result, succession planning has emerged as an essential concern for bank leadership. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/J1BpTXQ via IFTTT

Mumbai fintechs must treat user data as a fiduciary responsibility, not a business asset. RBI governor Sanjay Malhotra stressed trust is key for financial system adoption and endurance. Firms growing significantly must take systemic responsibility beyond their balance sheets. Operational resilience and cybersecurity are essential prices for achieving scale. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1VFaRCr via IFTTT

Canara HSBC Life Insurance Company received a ₹1 crore penalty from IRDAI. The fine was imposed for mis-selling a deferred annuity policy to an 88-year-old individual. IRDAI identified several procedural and disclosure deficiencies in the sales process. The insurer subsequently refunded ₹4.09 lakh to the affected customer. This action highlights regulatory scrutiny over insurance sales practices. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/VivPkmD via IFTTT

Agentic AI's growing use in finance necessitates new checks beyond customer identification. Banks may develop a 'Know Your Agent' framework for autonomous systems. This framework will address AI identity, authentication, and transaction limits. Such systems require accuracy, accountability, and unbiased access for trust. India aims for intelligent inclusion by scaling AI financial services. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Iaqdmg6 via IFTTT

Recent foreign currency deposits could provide a short-term uplift to the growth patterns in bank lending. With the narrowing of differentials, it's anticipated that domestic interest rates will rise soon. The banking sector is poised for accelerated consolidation in the upcoming years, favoring larger banks that leverage scale and technological innovation. In this landscape, Axis Bank is gearing up to implement AI-driven strategies to enhance customer engagement. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/BQPuNlg via IFTTT

Axis Bank plans to temporarily relocate staff across multiple Mumbai offices. The bank seeks a larger single office space for its employees. This move comes as their current headquarters will be demolished. A new 32-storey tower is expected to be ready in five years. This situation highlights Mumbai's growing office space demand challenges. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/GsfQSN6 via IFTTT

IDFC FIRST Bank has been awarded a BBB- Long-Term and A-3 Short-Term credit rating, underscoring its strong capital position and operational expertise. This evaluation enhances the bank's access to international funding and global markets. The stability of its retail deposit base contributes to a solid outlook, setting the stage for IDFC FIRST Bank's future growth and expansion endeavors. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ctHCGeO via IFTTT

Banks are planning to auction cars and vehicles on the BAANKNET platform. This initiative aims to streamline the recovery of non-performing assets for lenders. The platform will integrate with VAHAN and RTO services for complete vehicle information. PSB Alliance operates BAANKNET and has already facilitated numerous property auctions. This expansion seeks to enhance efficiency and transparency in asset recovery processes. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Vi3KWuZ via IFTTT

Indian companies filed proposals worth $7.70 billion for external commercial borrowings in July. This represented a significant 27% growth over the previous month's figures. The Reserve Bank of India had eased its borrowing framework earlier in February. Air India and Interglobe Aviation together filed proposals worth $780 million. These companies sought special permissions from the central bank for their borrowings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/8dOIfiJ via IFTTT

State Bank of India on Monday said bank unions have served strike notices for September 11, September 28-30 and a continuous strike from October 26. SBI said it has made arrangements for normal functioning at branches and offices, but warned that work across the bank may nevertheless be impacted. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/joZXuzx via IFTTT

Axis Bank has launched Arise Homecoming to recruit Indians studying or recently educated overseas who want to build careers back home. The programme covers opportunities across technology, digital, strategy, wealth and other functions and is also open to professionals with up to two years of international work experience. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SPOCsqH via IFTTT

The payments ecosystem in India is moving beyond just digitisation, and towards infrastructure that can operate seamlessly across borders, and connected ecosystems. Adyen, a global fintech company with presence in India is positioned to achieve exactly that for Indian merchants who have the ambition to go global and global enterprises expanding in India. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/305mvdQ via IFTTT

Nearly 5.72 crore Pradhan Mantri Jan Dhan Yojana accounts currently hold zero balances. Over 15 crore accounts under the scheme are classified as inoperative. Uttar Pradesh leads with the highest number of zero-balance and inoperative accounts. The scheme aims for universal financial inclusion across all households. More than 59 crore accounts hold over Rs 3.15 lakh crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4WN17ac via IFTTT

State Bank of India plans to hire approximately twelve thousand personnel this financial year. The bank also intends to expand its network by adding around two hundred fifty new branches. SBI and its subsidiary will dilute up to one percent stake in the National Stock Exchange. This divestment is part of the National Stock Exchange's proposed initial public offering. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/n6uah9f via IFTTT

The Reserve Bank of India has approved Life Insurance Corporation's stake acquisition. LIC can now acquire up to 9.99% of ICICI Bank's share capital. This approval is valid for one year from the RBI's letter date. The central bank's approval will stand cancelled if not utilized within this period. This acquisition is subject to compliance with all applicable regulatory provisions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RpMUbi7 via IFTTT

Recent unexpected leadership changes at top Indian private banks raise succession planning concerns. Investors question long-term business strategy continuity amid these abrupt departures. HDFC Bank and Kotak Mahindra Bank face leadership transitions, surprising many analysts. Stricter regulations and competition from fintech also affect talent retention. Improved succession visibility will help maintain investor confidence in strategic direction. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/fO4vSGu via IFTTT

Public sector banks gained significant lending headroom after liquidity requirement relaxation. This allows them to sustain credit growth while deposit mobilisation remains relatively weak. Excess investment buffers could support incremental loan growth on their substantial loan books. Banks can now free up funds tied up in government bonds for lending. This improvement is visible at some of the largest state-owned lenders. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/KwQ6F19 via IFTTT

India’s banking system liquidity surplus has surged to a record ₹9.7 trillion ($102.67 billion), surpassing the previous peak seen in September 2021. The sharp increase follows Indian banks raising $127.23 billion through non-resident foreign-currency deposits under the RBI’s scheme, with most funds swapped into rupees. The liquidity glut could complicate RBI management of overnight rates and liquidity. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/xAqQkSy via IFTTT

GIFT IFSC banking units are channeling foreign-currency deposits into financing. These units funded fifty-two billion dollars of FCNR(B) deposits under a swap facility. International Financial Services Centres Authority highlighted strong performance in foreign-currency mobilization. Indian banks also raised eleven billion dollars through bond listings on IFSC exchanges. These developments connect global capital pools with India's financing needs. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/gWkehi6 via IFTTT

Credit card profits are shrinking for Indian banks as spending rises. Customers now use cards more for payments than borrowing, reducing interest income. Interest-bearing balances have significantly fallen as a percentage of total card spending. This trend is impacting major lenders like HDFC Bank and SBI Cards. Analysts predict further profit margin declines in the coming years. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Qeis1uv via IFTTT

The CBI filed a chargesheet against nineteen accused in a Rs 504-crore fund misappropriation case. Six Haryana cadre IAS officers and bank officials were named in the chargesheet. The accused allegedly orchestrated a fraudulent scheme to misappropriate government funds. These funds were transferred to specific bank branches and then to third parties. The CBI has now charged a total of thirty-seven individuals in this ongoing investigation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FwB9oie via IFTTT

A parliamentary committee will meet on September 3 to discuss direct tax reforms. The meeting will focus on simplification, rationalization, and ease of compliance. Discussions will also cover the Income-tax Act, 2025, and revenue performance. This session follows a previous cancellation regarding virtual digital assets. Representatives from the Ministry of Finance will attend the important deliberations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/u4gZB7f via IFTTT

A special five-member NCLT bench stayed Subhash Chandra's repayment plan approval. The tribunal also restrained the Essel Group founder from alienating any asset. This new bench stayed a smaller bench's earlier order which had approved the plan. Dissenting creditors had sought protection against the guarantor's asset alienation. The bench directed that the guarantor shall not alienate properties directly or indirectly. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9Oamwoi via IFTTT

In a bid to boost climate and transition finance, banks are pressing for a lower cash reserve ratio for green deposits. Presently, estimates show that these deposits fall short of the necessary critical mass. A decreased CRR could significantly cut funding expenses and unlock capital for loans, as India strives for substantial investments to fulfill its net-zero goals. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/N3zTcjQ via IFTTT