Banking News

As RBI Governor Sanjay Malhotra signals the end of free UPI transactions, the move could reshape India’s fintech revolution, balancing innovation with sustainability

IndusInd Bank chairman assures investors about CEO hunt

Chairman Mehta says, the bank has followed due process and timelines in submitting its recommendations, which remain consistent with its original proposal

IndusInd Bank sees further scope to cut savings, term deposit rates, says Soumitra Sen

The cost of deposit of the bank in the reporting quarter eased by 9 basis points (Bps) year-on-year, and 6 bps on-quarter.

Why IRDAI wants insurers to appoint an in-house ombudsman and what it means for policyholders

The insurance regulator has released a draft framework to mandate internal ombudsmen within insurance companies, and is expected to finalise the regulations by Q3FY26. Moneycontrol explains everything you need to know.

Double Trouble: IT layoffs & loan slowdown – is there a storm brewing?

Private banks, which have higher exposure to private sector employees, particularly those from IT, have witnessed an 8-12 percent contraction in their FY26 EPS estimates.

MC Interview| Canara Bank to transfer 8 NPAs worth Rs 4,000 cr to NARCL by Q3: CEO K. Satyanarayan Raju

Canara Bank’s total SMA 2 book was Rs 6,856 crore, of which Rs 5,000 crore pertain to two accounts—Rs 3,000 crore guaranteed by a state government for an irrigation project, and a rental discount real estate project in Bengaluru, Raju said.

Aim to be among Top 3 players in India, says UBS' Abhishek Joshi

Betting on UBS and Credit Suisse's synergies, Abhishek Joshi, Head of ECM India, UBS, is confident that the Indian market will remain attractive from an IPO and deals perspective this year

Shriram Finance looks at new borrowing strategy to reduce costs

Early onset of monsoon led to delay in construction activities to August and September, which had resulted in fall in AUM on construction equipment in Q1FY26, Revankar said.

Kotak Mahindra Bank Q1 FY26: a blip not a blow

The bank had an unpleasant start to FY26

Rupee opens 5 paise up at 86.47 dollar as dollar index eases

In the near term, the rupee is likely to trade in a the 86–87 range, experts say

Banking Central | How to tackle rising frauds in India's banking sector

With frauds soaring to Rs 36,014 crore in 2024-25, the RBI’s latest data paints a grim picture of systemic cracks. Time for tougher oversight and accountability.

Kotak Mahindra Bank flags stress in vehicle loans, resumes microlending cautiously

Bank sees MFI stress peaking, cautiously restarts disbursements across key States

Kotak Mahindra Bank Q1 Results: Net profit declines 7% to Rs 3,282 crore

Provisions surge 109% yoy to Rs 1,208 crore; NII up 6% to Rs 7,259 crore

Zubin Mody resigns as CHRO of IndusInd Bank, cites pursuit of new opportunities

In his resignation letter, Zubin Mody expressed that stepping down from the Bank was a difficult decision, marking the end of a fulfilling two-decade-long journey

DFS Secretary urge insurance brokers to help increase coverage in rural India, smaller cities

Insurance brokers can augment insurance penetration through grassroots engagement, simplified product dissemination, and capacity building of local intermediaries, Nagaraju said.

IRDAI's Satyajit Tripathy cautions on practices of insurance brokers to increase valuation

ripathy said that in the insurance broking space, there is a record level of activity in terms of mergers, acquisitions, and demergers in the distribution segment. “The regulator is witnessing increased activity in this area on a day-to-day basis,” he said.

Bank of Baroda Q1 net profit rises 1.9% on-year to Rs 4,541 crore

During the June quarter, BoB's total interest income rose 4.9 percent on-year to Rs 31,091 crore compared to Rs 29,629 crore a year ago.

Vault Matters | Why now isn’t the time to upgrade banks

While there are at least four bank requests pending for regulator’s blessings to get a bump up in the value chain, now is the time to observe and assess, not react and regret 

RBI to consolidate 8,000 regulations, set up review cell, says governor Sanjay Malhotra

The move is aimed as simplifying compliance and enhancing clarity. The review cell will revisit all regulations every five–seven years to weed out obsolete norms and examine if there’s the right balance between efficiency and financial stability

Indian rupee opens 16 paise lower at 86.57/USD on dip in Asian currencies, eye on FOMC next week

Asian currencies such as South Korean Won was down 0.27 percent from previous close, Philippine Peso was down 0.26 percent, Japanese Yen and Indonesia Rupiah was down 0.12 percent each, and Thai Baht was down 0.05 percent, as per Bloomberg data.

Bajaj Finance’s 2 & 3-wheeler, MSME businesses to grow slow in FY26: MD Rajeev Jain

Two & Three-Wheeler Finance AUM declined by 20 percent on-year to Rs 15,703 crore in April-June quarter, from Rs 19,689 crore in a year ago period.

Bajaj Finance to submit detailed succession planning in six months to board: MD Rajeev Jain

While deliberations on succession plan would start in 6 - 8 months, Jain to remain at the helm of affairs till March 2028.

Bajaj Finance curtails Karnataka exposure by up to 50%, amid political, regulatory risk: MD Rajeev Jain

Karnataka accounted for 11 percent of the company’s balance sheet, making this a significant recalibration

Bajaj Finance reports Rs 1,556 crore microfinance loans in Q1FY26 after separating MFI from Rural B2C Portfolio

In April-June quarter, Bajaj Finance has separated microfinance business from the Rural B2C loans. The company is sourcing MFI business through MFI branches.

Canara Bank’s current account deposits fell sharply in Q1FY26 as 4-5 key PSUs deployed funds

In the April–June quarter, the bank’s current account deposits declined by 30.57 percent quarter-on-quarter to Rs 54,045 crore, down from Rs 77,841 crore in Q4 FY25, according to the investor presentation.

SBI Life Insurance Q1 FY26 Results: Net profit rises 14% to Rs 594 crore

The company’s gross premium income for the quarter stood at Rs 17,178.5 crore, marking a 14 percent increase over Rs 15,105.5 crore recorded in Q1 FY25

Strategic decisions to be taken when SMBC comes board: Prashant Kumar, MD & CEO, Yes Bank

On the retail front, while the RDIF book should shrink by Rs 7,000–8,000 crore this year, concerns pertaining to weak asset quality have to do with the quick flip in the retail credit cycle, Kumar said

Ajay Seth named IRDAI chairman for three-year term

His appointment was confirmed through an official government notification, and he will hold the position for a tenure of three years.

Govt to work with regulator to ensure small NBFCs' compliance is proportionate: finance ministry official

Ashish Madhaorao More, joint secretary in the finance ministry, has also said NBFCs are uniquely positioned to break the last-mile green finance gap and can help India meet its emission goals

PSU banks’ borrowing share in uncollateralised money segment fell to 3% in 2024: RBI

The bulletin added that activity in the money market had risen significantly in recent years, with the collateralised segment, led by the tri-party repo, dominating in terms of transaction volume.

Rupee opens 9 paise up at 86.33 as dollar eases

For the day, the rupee is expected to in the 85.80–86.70 range

MC Explainer | Tesla’s India entry puts spotlight on EV battery insurance: What it is and why it matters 

As Tesla drives into India, Moneycontrol unpacks the evolving landscape of EV battery insurance and what it means for insurers, automakers, and consumers alike

RBI rate cut fuels corporate borrowing rush: CP issuances surge 20% in Q1FY26

Around 27 percent of the total funds raised in Q1FY26 were mobilised by just five large corporates: National Bank for Agriculture and Rural Development, Indian Oil Corporation, Small Industries Development Bank of India, Reliance Jio Infocomm, and Reliance Retail Ventures.

India’s forex reserves provide 95% cover for outstanding external debt: RBI Bulletin

As per RBI’s data, India’s foreign exchange reserves fell $3.06 billion to $696.7 billion for the week ending July 11.

Sticky last-mile disinflation forces central banks in advance economies to hold rates: RBI bulletin

In their monetary policy meetings held in June and up to July 18, central banks of most advanced economies continued to hold or cut their policy rates

RBI to inject Rs 50,000 cr via two-day VRR as call rate hits above repo rate

The announcement comes at a time when the liquidity in the banking system is in huge surplus of around Rs 2.42 lakh crore.

SBI eyes spot among top 10 global banks by market cap in 5 years: Chairman CS Setty

Setty says investor response to SBI’s QIP was beyond expectations

Rupee opens 4 paise down at 86.41 against the dollar

The yen rose to 146.88 after President Donald Trump said he reached a trade deal with Japan that will set tariffs on Japanese imports at 15% and also bring in $550 billion in investments

Extended trading hours drive call money share to over 3% of money market

Historically, the share of call money volumes in the total turnover has remained in the range of 2-2.5 percent, however, in some instances, the share has increased to 3 percent due to higher demand for funds.

Chart of the Day | Insurance industry hits the brakes as motor, health segments lose steam

The general insurance sector’s modest 9% growth in Q1FY26 suggests deeper cracks—weak auto sales, regulatory hurdles and cutthroat pricing are putting the brakes on an industry that once promised double-digit expansion.

CreditAccess Grameen’s Q1 FY26 shows sector’s weak spots

An 84.9 per cent profit drop signals big risks for microfinance, even as growth looks strong.

Customer complaints are rising, but real crisis is lack of empathy: RBI DG Swaminathan J

As per RBI’s latest annual report, customer grievances saw a marginal increase in FY25, reaching 2.96 lakh complaints, up from 2.93 lakh in the previous fiscal year.

Private banks’ Q1 FY26 numbers reflect caution, restraint

Prudence is the sharpest tool in this uncertain terrain, and banks choosing caution over reckless growth are likely to emerge stronger when the skies clear

L&T Finance may focus more on loans with PSL benefit to reduce borrowing cost, says CEO Sudipta Roy

The company will be launching new products in Q1FY27 as part of the Lakshya 31. These products will be mixed of secured and unsecured, Roy said.

IRDAI Chairperson search hits roadblock as top candidates refuse to move to Hyderabad

Despite the ongoing process, top candidates are reportedly declining the offer due to unwillingness to relocate to Hyderabad, where the IRDAI is headquartered in the Financial District of Nanakramguda, Gachibowli.

IDBI Bank Q1FY26 Results: Net profit rises 17% YoY to Rs 2,007 crore, NIM declines 3.68%

Shares of IDBI Bank were trading at Rs 93.35 on the NSE as of 2:30 PM IST on July 21

Committed to providing $1billion in financing to female entrepreneurs by 2028, says Standard Chartered's Xie Wen

Green loans is another area of interest for the global head of SME Banking at the London-based bank. India is one of the top 3 markets, with climate investment potential of $543 billion, says Xie Wen

Rupee opens 11 paise down at 86.26 as dollar index trades high again

The US Federal Reserve chair Jerome Powell's July 22 remarks will be closely tracked after US President Donald Trump seems to have backtracked on the threat to sack him

Banking Central | RBI sounds the climate alarm. Are the banks listening?

The RBI’s Financial Stability Report flags climate shocks as a growing threat to financial stability and urges banks to be ready for physical and transition risks that could disrupt the system. The industry must take note

Large corporates ditch bank loans for cheaper capital markets as lending growth slows: Report

With interest rates falling and bond markets offering better terms, Indian companies are turning away from traditional bank funding.