Banking News

SBI will use the facility to finance Kisan Credit Card loan portfolio to help meet the credit requirements of the agricultural sector

Rupee resilient in face of Trump tariffs, recover intraday losses to close 7 paise up

The dollar index fell to 101.53, its against lowest level since October 1, on fears of potential recession in the United States coupled with rising inflation

RBI MPC may cut repo rate next week to support growth even with liquidity crunch easing

Banks, burdened with high deposit cost, have been unable to pass on rate cuts effectively due to tighter liquidity in the banking system, hence necessitating a cut.

A rate cut is round the corner, it's a matter of how much

The RBI is aware that a rate cut amid a liquidity deficit is akin to a 'wasted bullet' and is thus rightly setting the stage for (potential) effective transmission by infusing liquidity into the system in the run up to the April 9 policy

MC Exclusive | BimaPay Finsure to digitise loans against life insurance surrender values in a few months: CEO

Since life insurance penetration is four times higher than health insurance, this opens a massive new market for secured, low-interest loans, says Hanut Mehta

Bajaj Finance gets RBI's 'letter of displeasure' over lapses in credit card business: CNBC Awaaz

The RBI has expressed its displeasure over lapses by Bajaj Finance in its credit card business, and cited the NBFC's inability to maintain internal controls and processes for clients, adding that it has not proactively identified gaps to prevent data leakage.

What should investors expect from bank results in Q4?

Find out the key trends expected in banks' financials in the fourth quarter.

Rupee opens at 85.75 against the dollar, down 24 paisa following Trump's tariff rollout

Experts expect the currency to test the 86-mark after Trump imposed a 26% tariff on Indian imports

IndusInd Bank denies report of PwC submits report to board

Earlier today, media report suggested that PwC have submitted its report to the board of the bank. The report also said that board will review the report to determine further course of action.

ECL Finance appoints Ajay Khurana as MD, shifts focus to MSME lending

Khurana has previously held leadership roles at Bank of Baroda, Syndicate Bank, and Vijaya Bank, where he played a key role in digital transformation and risk management

Banks set to report higher treasury income in Q4FY25 on sharp drop in G-sec yields

During the January-March quarter, yields on government securities, particularly the 10-year benchmark bond, eased by around 20 basis points, driven by the Reserve Bank of India's OMO purchases, easing inflation, and a 25 bps policy rate cut.

April 2025 MPC meeting: Expectations of rate cut amid easing inflation, global economic uncertainty

The current benchmark repo rate stands at 6.25 percent while the stance remains at “neutral”.

Rupee turns positive among Asian peers: Here are five supporting factors

According to Bloomberg data, the rupee has appreciated 0.22% so far in 2025 against the US dollar. The appreciation in March also saw the the rupee touching a three-month high.

Chart of the Day | Who is losing in the great battle for bank deposits?

Among PSBs, private banks and foreign banks, the rivalry to garner deposits is picking up. There is no mercy in this battle for survival.

EPFO adds 15 additional empanelled banks, expands network to 32 banks

The EPFO, one of the largest social security organisations in the world, has been taking a series of efforts to simplify processes for members and enhance employers’ experience in transacting with it

India's exports to US could face net impact of $3.1 billion from reciprocal tariffs

While the direct effect appears limited at 0.1 percent ($3.1 billion) of India’s GDP, concerns persist over broader sentiment risks.

Food & beverages inflation to moderate to 4.9% in FY26, says ICRA

Cooling food prices may offer relief to low and middle-income households, giving a boost to discretionary consumption

Indian banks profits may dip in FY26 on margin squeeze, says CRISIL report

The report pegs credit growth at 12-13 percent but says deposit growth remain a critical bottleneck

India’s corporate credit holds strong amid global risks, says Crisil report

The reaffirmation rate climbed to approximately 83% , surpassing the 10-year average of 82.5% for the first time since FY22.

Next decade crucial for RBI in shaping country's financial architecture, says governor Malhotra

The RBI remain committed to improving customer service as well as strengthening consumer protection, Sanjay Malhotra has said

State-owned banks lead in issuing CDs in FY25 to mop up deposits

Among the state-owned banks account for 62 percent of the CDs and Punjab National Bank raised Rs 2.16 lakh crore, the most by a lender, in FY25

Banking Central | Why another RBI rate cut is inevitable on April 9

The time for half-measures is over, and the RBI must decisively embrace a dovish stance and cut rates further, not only to alleviate the credit crunch but to send a strong signal that growth is the new priority.

SBI’s CS Setty is chairman of Indian Banks’ Association

A Manimekhalai, MD & CEO, Union Bank of India, Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank and Madhav Nair, country head & CEO-India, Bank of Bahrain & Kuwait BSC, will be his deputies

Rupee logs best monthly show in over 6 years on return of FPIs

According to the Bloomberg data, Indian rupee so far this month has appreciated around 2.36 percent, which is highest appreciation since November 30, 2018, when it had appreciated around 5.91 percent in a month.

MC Poll| RBI likely to cut repo rate by 25 bps in April policy

Most experts are of the view that the central bank may continue with the ‘Neutral’ stance because it can allow the RBI to act on both sides on rate front. A section voted for a change in stance to "Accomodative” for a smooth transition of policy rates.

Rope in a private banker: RBI may have told IndusInd Bank board on CEO replacement

The central bank has informally told IndusInd Bank’s board on the likely traits to consider while shortlisting CEO candidates

Loan against gold jewellery grew by 87% in February, fastest among personal loans, shows RBI data

Bank credit to loan against gold jewellery was the fastest growing in the personal loan segment, compared to other components.

India’s retail credit growth slows as consumption lending drops in Dec 2024, private banks bear the brunt

The slowdown has hit private banks the hardest, with their CMI value dropping to a three-year low of 92.

MC Analysis | At 6.16%, call money rate is below RBI’s 6.25% repo rate after 4 months

The reversal in trend may be attributed to a sharp improvement in the banking sector liquidity situation.

PwC’s initial findings in IndusInd Bank might have necessitated forensic audit

While PWC was engaged to estimate and assess lapses in accounting for derivative instruments, its findings could have resulted in the need for a forensic audit to examine possible corporate governance lapses

Three reasons why Indian bond yield hits 3-year lows and why it points at more rate cuts

The yield on government securities, especially the 10-year benchmark bond, has been witnessing a reduction since the start of this month. Data indicates that it has eased 15 bps so far in March.

RBI to meet bankers next week to discuss new liquidity model

The Reserve Bank of India is scheduled to meet bank economists on April 3 to take feedback on proposed revisions

Kotak Mahindra Bank's private banking unit likely to add thousands of new clients

The billionaire Uday Kotak-backed division added 2,280 new families to its client base in private banking in the year ending March 2024

Kotak Mahindra Bank’s Ambuj Chandna joins DBS Bank India

Chandna has joined DBS India as MD and head of consumer banking group

Sebi probes insider trading at IndusInd Bank: Report

SEBI is also examining whether IndusInd violated its disclosure norms, the report said

Kotak Private Bank is open to foreign collaborations provided visions align, says Kotak Private Bank CEO Oisharya Das

Speaking to Moneycontrol, Das said, Kotak Private will continue to target clients with $1 million and above, and will continue to focus on this high-value segment, as there is massive potential to capitalise on

Torres investment scam: ED takes into custody suspected Hawala operator

I don’t see any major multinational corporations (MNCs) dominating in India, she said, speaking to Moneycontrol on the sidelines, at the launch of the report titled 'Top of the Pyramid'

RBI allows standalone primary dealers to participate in all Repo operations

Earlier, SPDs were allowed to participate in all overnight liquidity management operations (except Marginal Standing Facility).

HDFC Bank served a Rs 75 lakh penalty by RBI over non-compliance with KYC norms

India’s largest private sector lender, HDFC Bank was monetarily penalized for Rs 75 lakh by RBI over omissions regarding KYC guidelines. Another NBFC, KLM Axiva Finvest, too faced penalty over non-compliance relating to dividend issuance norms.

RBI releases MPC meeting schedule for FY26: Here are the dates

A total of six MPC meetings are scheduled for the fiscal year beginning April 1, 2025.

Indian bond yields hit over 3-year low amid rate cut expectation

According to the Bloomberg data, yield on 10-year benchmark bond was lowest since January 19, 2022, when it was at 6.60 percent. Yield on the government securities, especially 10-year benchmark bonds have been seeing a reduction since start of this month. Data showed that it has eased 14 bps so far in March.

IndusInd Bank’s CD issuances spike over 5x in March

The bank has raised over Rs 16,500 crore of certificate of deposits this month, so far, against a monthly run-rate of Rs 2,000 – 3,000 crore till February

IndusInd Bank, stung by accounting lapses, raised $2 billion via market deposits in March: Report

The country's fifth-largest private sector bank flagged earlier in the month a $175 million hole in its balance sheet, citing accounting discrepancies in its derivatives portfolio

Banks to cut deposit rates starting from April: Report

This comes at a time when experts are expecting easing credit demand and another rate cut by the central bank, the newspaper said

Chart of the Day | Will RBI's new priority sector lending guidelines make a difference?

If executed efficiently, these guidelines can significantly boost financial access, particularly for housing, green energy, and underserved communities—ensuring that PSL fulfils its true purpose.

Fintech NBFCs accounts 76% total personal loan sanction volumes in 9MFY25

The average ticket size is comparatively lower for Fintech NBFCs compared to its peers like other NBFCs and banks. As per report, average ticket size for banks stood at Rs 441,391 till December 2024, and for other NBFCs it stood at Rs 94,430.

Revised PSL norms to improve bank credit to weaker section, boost financial inclusion

An IIFL report also said that the easing of PSL guidelines should help banks with relatively lower organic PSL generation such as RBL Bank, IndusInd Bank and Federal Bank in Financial year 2023-24.

SMFG India Credit raises $175 million via ECBs from Standard Chartered Bank, CTBC Bank

SMFG India Credit said it has fully hedged the facility to mitigate risks associated with foreign exchange and interest rate fluctuations

BHIM 3.0 app to monitor customer satisfaction, ensure suitable address mechanism to retain users: RBI ED Vivek Deep

Deep also said that while customer acquisition is a challenge, maintaining or sustaining those customers is a far greater challenge.

India set for a second consecutive rate cut in April amid global central bank caution on easing

In India, economists say macroeconomic conditions are better placed due to lower inflation, which is below the RBI’s medium-term target of 4 percent, and a growth bounceback in the third quarter of this fiscal year, which may lead to a 25 bps rate cut in the April monetary policy.