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Quick Take | Retail security redemptions surge: What It means for banks, ARCs

The landscape of stressed asset resolution is evolving, with significant changes on the horizon for Asset Reconstruction Companies (ARCs). A projected shift in redemption rates could redefine recovery strategies and impact key stakeholders in the financial ecosystem

IMF pushes for IFRS 9 adoption to improve credit risk management, says RBI report

The IMF recommends stronger supervision of individual loans, collateral valuation, connected borrower groups, and related-party transactions

RBI revises priority sector lending guidelines, new rules effective from April 1, 2025

"The enhanced coverage of the revised guidelines is expected to facilitate better targeting of bank credit to the priority sectors of the economy," the RBI stated.

Non-bank bond brokers hesitant to opt for NDS-OM platform over cost burden

RBI’s norms say that entities eligible to seek direct access to NDS-OM must have Subsidiary General Ledger (SGL) with the RBI, a Current Account with the Reserve Bank or a Designated Settlement Bank, and membership of securities settlement segment of the Clearing Corporation of India (CCIL).

Indian insurance companies keen on going solo, no longer seeking FDI support

Unlike the early 2000s when Indian firms leaned on foreign expertise, today’s players seem confident in their own capabilities and see less need for overseas support.

Banking Central | Bond market is caught in uncertainties

On the one hand, inflation has softened, with CPI falling to 4.31% in January — a positive for bonds. On the other, global uncertainties and the RBI’s cautious policy stance are keeping traders from making bold bets on lower yields

IndusInd Bank taps Grant Thornton for fraud checks in accounting case, say sources

IndusInd on Thursday told stock exchanges it had appointed an unnamed firm to identify the root cause of the problem and identify lapses, but it did not say that would include checks related to any potential fraudulent transactions.

IndusInd Bank denies report claiming bank’s chiefs to exit within months after accounting lapses

Earlier today, Reuters citing sources reported that RBI has urged the CEO of IndusInd Bank and his deputy to step down after significant accounting lapses

Rupee logs best week in over 2 years; here are three major reasons

The local currency rose to a 10-week high of 85.9375 during the session and gained 1.2% in the week. This has been the best level for the rupee since January 9, when it traded near 85.8638 against the US dollar.

Only two insurers comply with Bima-ASBA framework, others in talks with IRDAI for deadline extension 

Top insurers such as Life Insurance Corporation, HDFC Life, ICICI Prudential Life and SBI Life have not gone live with Bima-ASBA as of now.

IndusInd Bank, HDFC Bank biggest issuers of CDs among private lenders this month

IndusInd Bank raised Rs 17,550 crore through CDs, which is 10.2 percent of the total issuances, and HDFC Bank raised Rs 19,640 crore, which is 11.4 percent of the total

Rupee rally, lower hedging costs to spur corporate interest in RBI's FX swap

On Wednesday, the RBI will absorb $10 billion from the market and inject an equivalent amount of rupees in the banking system, with the reversal set to take place after three years.

Rupee logs best week in over two years on the back of dollar inflows, strengthens above 86/$

The Indian rupee has been on the appreciating spree for the last few sessions, on dollar liquidity provided by the Reserve Bank of India (RBI) through USD/INR Buy/Sell swap auction, and regular interventions by central bank, experts have said.

Payments banks seek Rs 5 lakh deposit limit, push for lending nod: Report

This marks the latest push by payments banks for regulatory changes, following the previous increase in April 2021, when the Reserve Bank of India (RBI) raised the maximum end-of-day balance from Rs 1 lakh to Rs 2 lakh.

IRDAI appoints 5 new members to Insurance Advisory Committee

The appointments will be effective from the date of publication in the official gazette, the release said

Bain Capital to invest Rs 4,385 crore in Manappuram Finance for 18% stake: Newsbreak confirmed

Bain Capital will get the right to appoint a member on the board of the company as part of the deal, giving it joint control of the NBFC.

Indian rupee ends almost 2-month high at 86.3675 against US dollar

In the last few days, the rupee has been gaining ground, helped by a multiple factors such as sharp fall in the Brent crude prices, foreign investors inflows and strong domestic equities

NRI deposits surge by 40.8% to $14.31 billion in April-January FY25, says RBI bulletin

According to the latest RBI bulletin for March 2025, FCNR(B), NR(E)RA, and NRO have experienced growth in both inflows and outstanding amounts

RBI net sold $11.14 billion in spot forex market in January: Bulletin

The Indian rupee (INR) depreciated by 0.9 per cent (m-o-m) during February 2025, weighed by heavy FPI outflows.

Policymakers have to balance rising prices amid tariffs, currency depreciation, says RBI bulletin

The bulletin said despite the turbulent global environment, the Indian economy continues to demonstrate resilience because the growth momentum is supported by robust sectoral performance and improving consumption trends.

Banks relying on CDs for funding requirement amid credit-deposit growth mismatch: RBI Bulletin

In the primary market, issuances of CDs grew by 34 percent on-year to reach an all-time high of Rs 10.58 lakh crore during 2024-25 (up to March 7, 2025), RBI bulletin said.

RBI Bulletin says economic indicators showing sustained momentum in Q4FY25 growth

The Indian economy recovered in the December quarter to grow at 6.2 percent after sinking to a seven-quarter low of 5.6 percent in the July-September period, according to data released on February 28.

Bajaj Finance’s Rajeev Jain likely to be elevated to Bajaj Finserv’s board

Anup Saha, who joined Bajaj Finance in 2017 from ICICI Bank and was elevated to the role of deputy MD recently, may take over the reins of the NBFC from Jain.

Derivatives issue specific to IndusInd Bank, not an industry-wide problem, RBI review likely to say

On March 12, Moneycontrol reported that RBI had begun a review of derivative books of private and state-owned banks after IndusInd Bank reported discrepancies in accounting related to forex derivatives

IndusInd Bank – too big to fail?

Its forex positions were naked and not hedged, leading to losses. Also, the bank failed to apply mark-to-market accounting. These so-called “discrepancies” are in reality, fraudulent. The bank’s governing board has not exercised its fiduciary duty of oversight and supervision 

SBI likely the top investor in IndusInd Bank’s CDs

Moneycontrol reported on March 18 that state-owned banks subscribed to the bulk of Rs 12,850-crore worth of certificates of deposits issued by IndusInd Bank

Rupee opens 8 paise down at 86.6413 against dollar

The rupee closed at 86.57 as inflows dominated the session with FPIs turning net buyers of equity

RBI retail direct total primary market subscription rises 51% on-year in March

Majority of the subscription has come into treasury bills, which is almost double of the previous year

RBI, Bank of Mauritius sign MoU to promote use of local currencies in bilateral transactions

The agreement will enable exporters and importers to pay in their respective domestic currencies, which is expected to promote trade between the two countries

PSU banks likely subscribed Rs 12,850 crore of CDs issued by IndusInd Bank on March 17

According to the Clearing Corporation of India data, IndusInd Bank raised Rs 11,000 crore worth of CDs on March 11 and Rs 1,850 crore on March 10

Banks need to identify roadmaps for timely capital raising: DFS secretary Nagaraju

He also said that banks also need to do efficient allocation of resources besides striving to bring down intermediation costs

IBA must drive innovation, strengthen regulation for Viksit Bharat: DFS secretary Nagaraju

Nagaraju highlights the need for the association to establish uniform ethical and operational standards, facilitate policy dialogue with the government

SEBI questions IndusInd Bank management why early disclosures were not made

When the extent of the financial impact of wrong accounting of derivative instruments cannot be confirmed even now, what stopped the bank from making early disclosures, SEBI has asked IndusInd Bank management

Shriram Capital to use its existing depositor base for wealth management JV with Sanlam

A significant portion of its customers already possess investible surplus, making them potential clients for wealth products, says Shriram Capital's Subhasri

Banking Central | Who is right on bank staff vacancies — the government or unions?

The government say PSBs employees have increased from 6.18 lakh in 2011 to 7.58 lakh, as of January 2025. Employee unions, however, say staff numbers are down and workload has zoomed

Sanjay Garyali appointed as CEO of Fusion Finance

Sanjay Garyali was earlier the L&T Finance’s chief executive of urban finance

Reserve Bank of India gets Digital Transformation Award 2025 by Central Banking London

The Central Banking London in a release said that the two initiatives have been key to this work. Sarthi, meaning 'charioteer in Hindi, digitised all the RBI's internal workflows.

ICAI may review IndusInd Bank's books over Rs 2,100 crore accounting discrepancy: Report

IndusInd Bank recently revealed that the discrepancies in its derivative portfolio could reduce its net worth by approximately 2.35% as of December 2024.

Mumbai Police’s EOW may question RBI officials in the New India Cooperative Bank case

The questioning of RBI officials could be based on the inspection conducted on the cooperative bank, to examine what prompted the officials to give a positive report when there were discrepancies.

IRDAI gives operations approval to Valueattics Reinsurance

This decision marks a major step toward fostering competition and diversification within the reinsurance landscape, a domain long dominated by the public sector, the regulator has said

‘India needs 8% growth to progress, current slowdown just a blip’: SBI Chairman

While private capital expenditure is gaining momentum in select sectors, Setty stressed the need for increased investment in core industries such as steel and cement. "They all have reached the capacity utilisation of 75-76 per cent," he noted.

Rupee open 8 paise up at 87.13 against dollar helped by cooling prices, crude

India's retail inflation eased to a seven-month low of 3.61 percent in February, the first time it stayed below 4 percent in nearly two years

RBI starts industry-wide review of derivative positions after IndusInd Bank fiasco

The RBI wants to ascertain if more banks are in non-compliance of its derivative trade rules and also wants to compliance on the treasury front

Torres Ponzi Scheme: EOW continues to receive 100-150 complaints per day

As per reports, the investigation is still going on the case and more than 10,000 complaints have been filed amounting to over Rs 177 crore.

More arrests likely in New India Cooperative Bank case as probe gathers pace

EOW officials have confirmed to Moneycontrol that on March 11, the Mumbai police has conducted Polygraph Test, also called a lie detector test on Hitesh Mehta at Forensic Science Laboratory in Mumbai's Kalina. During the test, 50 questions were asked and reports of the test is expected on March 17, police officials said.

Non-life insurance premiums drop 2.82% in February; health insurers lead growth

The drop comes as general insurers faced subdued growth, while standalone health insurers posted strong gains

Life insurers’ new business premiums dips 11.6% in February as LIC sees sharp decline

LIC leads the decline with a 22% drop in premiums, while private insurers see mixed performance

IRDAI warns private insurers over rising commission payouts in health and motor insurance, seeks action ahead of 2026 review

The regulator's concerns stem from the fact that despite the relaxation of commission payout limits in April 2023, the expected reduction in insurance premiums has not materialised, with the policy costs remaining high.

IndusInd Bank CEO Sumant Kathpalia says crisis is litmus test for the lender

The Reserve Bank of India maybe uncomfortable with his leadership skills, Kathpalia said after the regulator extended his tenure by a year against a three-year extension sought by the board