BUSINESS
SBI Chairman CS Setty says mission to change the bank is 'very close to heart'
SBI accounts for a fifth of India’s loans and advances, and one-fourth of the total deposits with the banking system. Chairman Setty is very clear that at no cost, SBI will ever sacrifice its market share.
BUSINESS
Gamification, hyper-personalisation and more in YONO 2.0, says SBI chairman
The new version of the bank’s mobile banking app, expected to be released by July, will ensure an omnichannel experience for customers, says Challa Srinivasalu Setty
BUSINESS
Alleged misappropriation of funds by staff at New India Co-operative likely reason behind RBI action
On February 13, the RBI had restricted New India Co-operative bank from doing fresh business and accepting deposits, citing supervisory concerns.
BUSINESS
MC Exclusive | Empty ATMs, statutory defaults, and deep rating downgrades: AGS Transact faces a crisis
Some banks serviced by AGS Transact have informed the regulator about the increasing cases of ATMs not being refilled and have held back their payments to the company. Crisil and India Ratings have downgraded the company’s debt to default status. Its GST registration also stands cancelled; virtually, AGS Transact is out of business.
BUSINESS
Karnataka MFI ordinance: Collections likely to get impacted in state
While Karnataka may not turn into a no-go zone for microfinance lenders, industry executives caution that, in the near-term, there could be some disruptions in operations.
BUSINESS
Fusion Finance’s losses swell to Rs 719 crore in Q3
For a second quarter in a row, auditors have flagged the company’s ability to remain a going concern without waivers from lenders or securing sufficient funds
BUSINESS
100% FDI in insurance will lead to better pricing outcomes for customers: Anup Rau, MD & CEO, Future Generali India Insurance
While Rau did not share much on how the Central Bank of India's takeover of Future Group’s stake would unfold, he remained optimistic that with Generali’s support, the general insurer’s goal of doubling its business in five years was achievable.
BUDGET
MC Analysis | Governor Malhotra brings new thinking at RBI, but too soon to predict what next
Without giving away much on whether more rate cuts are on the anvil, or if the RBI has plans to defend a falling Rupee, Sanjay Malhotra, in his first MPC address, handed out what most asked for - a 25 basis points cut in repo rate.
BUSINESS
Vault Matters | Why not 100% FDI in banking sector?
Recently, 100% Foreign Direct Investment in the insurance sector became a reality. With this, almost every sphere of financial services is eligible to tap foreign money to the fullest, except for banks, where caveats remain very high
BUSINESS
Will RBI rethink its policy of banning biz of banks and NBFCs? Seems so, say bankers
Talking extensively about some of the proposed regulatory changes, the RBI governor for the first time went beyond the usual narrative of taking a consultative approach in decision making to spell out the trade-offs in the regulatory decision making process.
BUSINESS
We will strive to maintain NIM at 3%, says CS Setty, SBI Chairman
According to its investor presentation, SBI's NIM reduced to 3.01 percent in October-December quarter, from 3.14 percent in a quarter ago period and 3.22 percent in a year ago period.
BUSINESS
MC Analysis | Three reasons why RBI MPC meet outcome will be keenly watched on February 7
While a 25 bps rate cut seems to be a foregone conclusion, it being the first monetary policy chaired by Sanjay Malhotra, RBI governor, banker, equity, debt and currency markets will want to take cues on the policy direction.
BUSINESS
MC Exclusive | Standard Chartered Bank’s mortgages head to join L&T Finance
Jinesh Shah, MD and head of mortgages at Standard Chartered Bank to take over from Sanjay Garyali as CEO - Urban Finance, L&T Finance
BUSINESS
Increased thrust on housing to give a filip to banks and NBFCs
Urban Challenge Fund and SWAMIH has the potential to give the much needed boost to revive sentiments in the housing finance space.
BUDGET
Economic Survey 2025 warns that excessive financialisation can hurt the economy
It also called for banks to banks to enhance their capabilities to meet the demands of new-age households and the digital economy
BUSINESS
Vault Matters | Catch ‘em young! Rethinking deposit strategies for the prime earning demographic
Indian banks favour senior citizens with higher deposit interest rates, but neglect the 28-55 age group. To attract younger customers, banks must innovate, perhaps by offering equity-like deposit products with guarantees, supported by regulatory and government backing
BUSINESS
RBI likely told Tata Sons not to engage in financial services activities to avoid listing
Tata Sons is learnt to be in the process of giving an undertaking to the Reserve Bank that upon surrendering its NBFC-CIC license, it will not engage in transactions resembling those undertaken by a bank or NBFC, including providing guarantees for any consideration.
BUSINESS
Policybazaar to enter healthcare business in FY26, says CEO Sarbvir Singh
Policybazaar will also strengthen its foothold in the lending arena, with Paisabazaar pivoting from unsecured lending to an optimal mix from secured and unsecured loans, says Singh
BUSINESS
Pine Labs to file draft documents for IPO by mid-February
With the process of reverse flipping completed, Pine Labs plans to go public by August. The IPO may be a mix a fresh issue and offer for sale
BUSINESS
Vault Matters | Why lenders need to be blamed for the ‘overleveraging’ mess
The recent issue of a customer complaining about being harassed by banks for repaying multiple loans despite low income, highlights a lack of proper loan assessments, inadequate tracking of borrowers' credit scores, and the dangers of increasing indebtedness due to unchecked lending practices
BUSINESS
RBI governor Sanjay Malhotra to hold first meeting with bank chiefs on January 27
Sanjay Malhotra took over as the RBI governor on December 11 for a period of three years. He succeeded Shaktikanta Das
BUSINESS
Vault Matters | Will the zing factor make a comeback in bank stocks?
The banking sector's performance has stagnated due to low growth, asset quality stability, and missing differentiation among banks. With valuations dropping and no fresh triggers for re-rating, investor interest remains muted, leaving the sector without a clear path forward
BUSINESS
RBI says Tata Sons appeal to avoid listing under consideration
As per the extant regulations, non-banks classified as upper layer entities must be listed within three years from date of classification
BUSINESS
Banks turn innovative to retain depositors as liquidity tightens
Banking sector's liquidity has reduced from Rs 1.26 lakh crore surplus to Rs 2.22 lakh crore deficit in the past six months
