Banking

Speaking at the Global Leadership Summit, K.V. Kamath said that while the world is witnessing an intense wave of enthusiasm over AI, “a bit of the hype has to die down” before the true economic value of the technology becomes clear.

LIC’s GST impact under 1%, ITC burden not passed onto agents: CEO Doraiswamy

The insurer expects that exemptions on life insurance products will boost business volumes, support top-line growth, and provide opportunities to optimise expenses

India needs ‘big and world class’ banks, work on PSB consolidation has begun: FM Sitharaman

On October 15, Moneycontrol have reported that India's banking sector is headed for another round of public sector bank consolidation with the government working on a mega merger that could see smaller lenders being merged with larger banks.

Piramal Finance on track to 3% RoA, MD Jairam Sridharan says, as stock begins trading

The MD and CEO of Piramal Finance said the NBFC would start its new innings on the stock exchanges on a clean slate, and is all set to meet the 3 percent RoA target in the coming years.

India plans to retain cap on voting rights for large shareholders in banks: Report

The government is also seeking a majority investor in state-owned IDBI Bank, expecting to conclude that process by end of March 2026.

Distributors agreed to bear ITC as GST relief boosts affordability, volumes, Niva Bupa’s MD and CEO

Niva Bupa CEO Krishnan Ramachandran said that the distributors have agreed to bear the ITC as the recent GST relief is improving affordability and driving higher policy volumes.

Fusion Finance founder Devesh Sachdev steps down from board, exits all roles

Sachdev's resignation from the board, which came into effect on November 4, formally completes his exit from all executive and governance roles at the micro-finance lender

RBI’s huddle with dealers: Liquidity tightening or signalling risk control?

We have seen the system slip into meaningful deficit episodes this quarter

Rupee opens 13 paise up at 88.52 against dollar tracking gains in Asian currencies

The rupee is expected to move in the 88.40-88.90 range, depending on how the RBI takes the currency forward, experts say

November blues: Rupee likely to trade close to 89 amid trade uncertainty, strong dollar

On November 4, the RBI intervened in the NDF market to defend rupee from touching record low

SBI maintain 20% of GDP as asset portfolio, aims to grow to 25%, says Chairman CS Setty

Setty added that after several quarters of muted activity, corporate loan growth has started to pick up, buoyed by a strong pipeline and improving credit demand. Setty said that while there were sizeable prepayments in recent quarters partly due to the lender’s decision not to match aggressive pricing and partly because several corporates chose to repay loans using surplus cash the outlook has turned positive.

Yes Bank stake sale yielded 14% IRR, no compulsion to hold or sell remaining shares: SBI chairman CS Setty

According to Setty, SBI’s primary intent in participating in the reconstruction plan was not profit-making but supporting financial stability at a crucial time.

RBL Bank shares jump 2.5% today as Mahindra & Mahindra sells stake with 64% gain via block deal

Automobiles major Mahindra & Mahindra had invested Rs 417 crore in July 2023 to acquire a 3.5 percent stake in RBL Bank at Rs 197 per share. The current deal is expected to deliver a gain of roughly 64 percent on that investment.

Privatisation of banks unlikely to hurt financial inclusion drive, national interest: FM Nirmala Sitharaman

Nirmala Sitharaman said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned

Life insurers' non-par products gain traction in rebalance, but HDFC Life bucks the trend

HDFC Life's non-par share declined sharply to 18 percent in H1FY26 from 32 percent a year ago, a deviation in an otherwise uniform industry tilt toward guaranteed-return products.

Shriram Life’s new business premium up 17 percent in H1FY26, renewal premium rise 43 percent

Kromhout called the government’s move to reduce GST on individual term insurance policies from 18 percent to zero a 'landmark decision' that would make pure protection products more affordable and expand industry penetration.

Tata Capital Housing’s Ajai Shukla likely frontrunner for PNB Housing CEO's role

Ajai Shukla has held multiple leadership roles across Tata Capital and its housing finance arm. An official announcement regarding the appointment is expected shortly, it is learnt.

Rupee appreciates most in over two weeks on likely RBI intervention in NDF market

The local currency has remained towards 88.70 in the last few weeks amid pressure from the Asian currencies.

Canara Bank rides the CASA turnaround; MSME and vehicle loans to drive H2 growth, says MD and CEO

Canara Bank MD and CEO also said the lender is preparing to capitalize on the opportunities in the M&A financing space.

MUFG in advanced talks with Shriram Finance for a 20% stake

MUFG likely to invest $3-4 billion in India’s largest vehicle financier; Japanese lender will infuse fresh capital into the lender and secure two board positions.

ACKO to ramp up EV-specific products, distribution channels as it begins Tesla linked insurance: CEO Animesh Das

CEO Animesh Das said the company plans to significantly scale up this share in the coming quarters, although refraining from providing any specific guidance

Banking Central | What does UPI surge mean for Indian payments system?

UPI’s future hinges on whether policymakers allow it to stand on viable economic legs

Rs 2,000 notes worth Rs 5,817 crore still in circulation: RBI

The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. Rs 2,000 banknotes continue to be legal tender.

Bank of Baroda eyes 10-11% corporate loan growth in H2FY26, says CEO Debadatta Chand

The bank is keeping a close watch on fluctuations in gold prices but does not expect any significant impact on its loan-to-value (LTV) ratios or portfolio performance in the near term, Chand said.

Bank of Baroda Q2 net profit falls 8% to Rs 4,809 crore, NII rises 3%

Bank of Baroda Q2 results: Asset quality improves

OPINION | Vault Matters: $7 billion, four banks and a new outlook to equity

Capital, equity, etc. are not concerns of RBI was the view that the central bank seemed to hold for a long time. The new regime and its thinking is proving this belief wrong, making for a welcome change 

Canara Bank may raise Rs 3,500 crore via AT1 bonds by November

On October 30, the lender has informed exchanges that ratings agency ICRA has assigned ‘AA+’ ratings with ‘Stable’ outlook for the Basel-III compliant Tier-1 bonds.

Supreme Court asks IRDAI, industry to explore policies to improve motor insurance coverage

The supreme court is expected to deliberate on possible enforcement mechanisms and policy reforms to address the large-scale non-compliance of motor insurance in India.

Why banks are finding borrowing via TREPS more attractive over RBI’s VRR auctions

Market participants have said that the narrowing rate differential between TREPS and RBI’s VRR auctions has made the former route a more attractive option.

Rupee opens 9 paise up at 88.61/USD on Asian cues

Asian currencies were mostly higher on Friday, with the offshore Chinese yuan at 7.11 to the U.S. dollar

Union Bank of India working with two external agencies for ECL norms implementation, says CFO

Further, the managing director and chief executive officer Asheesh Pandey said there is no communication from the government on the consolidation of the state-owned banks.

FOMC rate cut gives RBI MPC further room, but policy action seen hinging on growth-inflation outlook

US Federal Reserve’s by 25 bps rate cut has increased the scope for policy flexibility for emerging markets like India, however, economists believe the Reserve Bank of India (RBI) will keep its focus on growth and inflation in framing the policy stance at the upcoming December monetary policy meeting.

RBL and Yes Bank: How India’s two largest banking sector deals happened

The Yes Bank-SMBC and RBL-Emirates NBD deals have opened doors for more such deals to happen in Indian banking ecosystem

UPI transactions grow by 35 percent in first half of 2025, with merchant payments expanding faster than P2P: Worldline report

Merchant payments (P2M) through the UPI route expanded faster than person-to-person (P2P) payments, by 37 percent to nearly 67 billion transactions, showed the report, as compared to a 31 percent growth in P2P transactions.

Chart of the Day | UPI moves the masses, RTGS moves the money

India’s payments data for the first half of 2025 shows two very different digital stories.

RBI's gold reserve rises to 880 metric tonnes at September -end

While 290.37 metric tonnes of gold were kept in safe custody with the Bank of England (BoE) and the Bank for International Settlements (BIS), 13.99 metric tonnes were held in the form of gold deposits, it said.

Go Digit Q2 profit surges 53% to Rs 136 crore; AUM up 15%

Gross written premium (GWP) for the quarter stood at Rs 2,667 crore, up 12.6 percent from Rs 2,369 crore in Q2 FY25.

Star Health Q2 profit drops 50% to Rs 317 crore

The expense ratio is currently at 29.7% in H1FY26.

Dia Vikas Capital cannot acquire more than 5% stake in ESAF Small Finance Bank: RBI

The move would force ESAF’s promoter to find an alternative way to reduce its shareholding in the bank

ICICI Prudential Life enables premium payments via NBBL Banking Connect

The feature allows policyholders to make premium payments directly through their preferred mobile banking app, without having to log in separately using internet banking credentials

HDFC bank puts bankers on leave amid Credit Suisse bond probe

The bank took the step over the last few months with the employees, who were at the center of the allegedly disputed trades of Credit Suisse’s Additional Tier 1 bonds

Governor Sanjay Malhotra’s term sees Rupee’s biggest drop since Subbarao’s first 10 months

RBI Governor Sanjay Malhotra’s period has coincided with a challenging global environment marked by a persistently strong dollar, geopolitical tensions, and a widening interest rate differential between India and the US.

Commercial Paper issuances down 66 percent in October as yields harden

Yield on commercial papers (CP) have hardened by 15-17 basis points amid fluctuation in the systemic liquidity in the banking system.

Today’s capex of a ‘different form’ compared to previous decades, says Citi India CEO

Citi India CEO said renewables, semiconductors, electronics and battery energy storage are some of bright pockets where capex is expected to rapidly grow in the coming years.

India might soon be 3-4 percent of Citi’s overall topline: Citi India CEO K Balasubramanian

Citi ranks No 1 in business with multinational, enjoys 35% market share in custodian biz, 14% share in forex and 8% market share in imports and exports biz

India to have second-largest number of Citi employees: CEO Balasubramanian

India supports about 80 countries globally, with some employees having created their AI patents, the CEO tells Moneycontrol

IDBI Bank divestment: Centre may soon invite financial bids as IMG set to meet on Oct 31 to finalise process

The approval of the SPA and the subsequent invitation of financial bids will mark the final phase of the long-awaited IDBI Bank privatisation process that has been underway since 2021.

Citi India CEO Balasubramanian expects $15-billion IPO rush over next 2 months

The pipeline of companies waiting to hit the market is quite robust and there could be a meaningful spill over to early 2026, Balasubramanian tells Moneycontrol in an interview

Centre plans to hike foreign investment cap in PSU banks to 49%: Report

The government plans to retain a minimum shareholding of 51% in state-run banks, according to the first source. At present, the government has much higher ownership in all 12 banks.

Rupee opens 1 paise higher at 87.86/USD as Asian currencies gain

Currency experts said traders will monitor the US Federal Reserve’s commentary following a widely anticipated rate cut and the magnitude of overseas fund flows.