Banking News

The top executive resigned on January 17 and will cease to be key managerial personnel of the bank effective from the closing hours of January 20

High delinquencies in microfinance segment widen Q3 slippages, says Kotak Mahindra Bank

The private lender’s fresh slippages in the reporting quarter stood at Rs 1,675 crore, as compared to Rs 1,177 crore in a year ago period, and Rs 1,875 crore in a quarter ago period.

RBL Bank Q3 results: Net profit falls 86% YoY to Rs 32.63 crore

Sequentially, net profit fell 85 percent.

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

Axis Bank Q3 FY25 — Better to be on the back foot in the near term

The quarter gone by was challenging as growth declined and interest margin contracted

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

Closing due diligence underway at IDBI Bank

Financial bids will be called once the diligence report is finalised, which according to sources may happen by the end of March

Small lenders had it tough in 2024, will 2025 see a recovery?

It's not just a funding squeeze that's a bother for MFIs, their asset quality too has shown deterioration in 2024 and there are regulatory concerns on lending discipline

Bank of India seeks first dollar loan in more than a decade

The lender is raising the loan — split into three- and five-year tranches — via its branch located in Gujarat International Finance Tec-City

Ionic will be ready to go live soon: Srikanth Subramanian, co-founder and CEO, Ionic Wealth (By Angel One)

Srikanth Subramaniantalks about his target customer base which is the Rs 1 – 50 crore income bulge and how the company wants to be a 'co-founder' to them in the process of wealth creation

Bank holidays in January 2025: Are banks shut on January 13 or 14 for Makar Sankranti and Lohri? Check city-wise list

Bank holidays in January 2025: Are banks shut on Jan 13 or 14 for Makar Sankranti and Lohri? Check city-wise list

Vault Matters: Banks must rethink business strategies to address high attrition

High attrition among private banks is something the RBI has been concerned about for the last two years. But solving this issue is not in the regulator’s hand. Will banks recognise the flaws in the system?

Roadshows for HDB Financial’s IPO underway

HDFC Bank plans to roll out the initial public offering of its non-banking arm within two or three weeks of getting the go-ahead from Sebi

Axis Bank – Can the stock reverse underperformance?

Stagnating earnings possibilities for H2FY25 limit meaningful short-term upside

Jefferies predicts 2025 as the 'Year of Easing' for Indian banks

Among private banks, ICICI Bank, Axis Bank, and HDFC Bank are identified as top picks, with Kotak Mahindra Bank upgraded from Hold to Buy due to improved valuations.

RBI removes supervisory curbs on Asirvad and DMI Finance

RBI said in a statement that it is satisfied with the companies’ submissions over their revamped processes, and commitment to adhere to regulatory guidelines on an ongoing basis.

Eight wishes for Indian banking in 2025

Both economic and geopolitical contexts have deteriorated since the beginning of the previous year. After a robust performance in FY24, banks have begun experiencing challenges. In this backdrop, here’s a wish list to navigate a challenging year safely

MC Exclusive | M&M Finance in the process of restructuring its housing arm

The new leadership at the parent company is clear that the mortgage business has to move out of the affordable homes segment in order to pare its bad loans book.

RBI should allow more Rupee volatility, says former RBI Deputy Governor Viral Acharya

Acharya’s comments come at a time when markets await clarity on whether new RBI Governor Sanjay Malhotra would continue with his predecessor’s approach of intervening firmly in the currency market.

Banking Central | A humble request to banks: Don't spoil my New Year with cold calls

On a normal day, anything around 10 calls land on my phone from various non-bank financiers and loan apps dishing out personal loan offers with lightening-fast sanctioning process

Major exit at Kotak Mahindra Bank as COO and CTO Milind Nagnur steps down

The resignation dated January 3 informed that Nagnur's last day at the bank would be February 15, 2025. An interim structure has been put in place at the bank to ensure smooth functioning, said the company.

RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank

The branches of The National Co-operative Bank Ltd., Bangalore (Karnataka) will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025, says RBI

Vault matters | Thinning bank credit growth needs RBI’s immediate attention

While it is often perceived that bank credit growth is a derivate of GDP growth, the fact is both are interlinked. If credit growth posted by banks is muted, GDP growth is unlikely to outperform the loan growth data. At 11.5% as per recent RBI data, bank loan growth isn’t very inspiring

Aim to double customer base by end-2025: Tide India CEO

Gurjodpal Singh of Tide India is optimistic about meeting the target of a million customers within the next year, given the pace at which the company has progressed so far.

MFIN defers capping lenders to each borrower by three months, other covenants come into effect

MFIN had in November introduced the measure to reduce number of lenders to a borrower to three, from previously four. MFIN also recommended to cap the indebtedness of a MFI borrower to Rs 2 lakh.

CSB Bank shares 3% higher on strong deposit growth, healthy gold loan book

The business update shared by CSB Bank on January 1 showed that the total deposits grew by 22.17% on year to Rs 33,406 crore, and advances against gold and gold jewellery rose by 36.28% YoY to Rs 13,018 crore.

MC Exclusive | Third term as Axis Bank chief will be about continuing our journey: Amitabh Chaudhry

Axis Bank MD and CEO speaks exclusively to Moneycontrol as he takes charge for the third term, shares his insight into the House of GPS and the road ahead

Data-Driven Disruption: Insights from Moneycontrol India Fintech Conclave 2024

The Conclave, with the theme “Innovate: Transform: Regulate”, which returned after the success of its inaugural edition last year has been a definitive platform for fintech leaders, policymakers, start-up founders, bankers, regulators and technologists.

Bank Holidays in India 2025: Check how many are falling on Saturdays and Sundays – Complete list

Bank Holidays in India 2025: It should be noted that there is no communication by the RBI regarding the bank holiday on January 1, 2025

Bank Holidays in January 2025: Check the complete list here

Check the complete list of bank holidays in January 2025, including regional festivals and weekend closures, to plan your banking transactions hassle-free.

The 2025 New Year resolutions that will not be made…

It’s not just you and me—there are a few others who also want to share their big resolutions for 2025

Rupee volatility surge puts RBI’s currency strategy in focus

The rupee’s one-month implied volatility versus the greenback rose to as much as 4.09% on Monday, the highest since August 2023. This marks a shift from the currency’s recent stability, which saw the volatility gauge hit a record low this August.

IndusInd Bank Quick Take: MFI loan auction, more pain coming?

While, prima facie, it appears a good move to lighten its bad assets’ burden it is not clear if all the pain has been addressed, given the relatively large microfinance loan book

MC Exclusive | We're on course to be small finance bank, talks on with RBI: Fino Payments Bank chief Rishi Gupta

Would prefer to convert to a small finance bank, even if permitted to lend as payments bank, says Rishi Gupta, MD and CEO, Fino Payments Bank

Axis Bank MD & CEO says not looking to acquire Yes Bank or IDBI Bank

While the bank has plans for inorganic growth options, Amitabh Chaudhry ruled out the possibility of making a move for IDBI Bank or Yes Bank.

Interest rate cut won’t spur capex: Amitabh Chaudhry, MD & CEO, Axis Bank

Chaudhry believes that while there is pressure building to cut interest rates, that itself may not help improve capex.

MC Exclusive | We aim to maintain our NIM at 3.8% in long run: Axis Bank chief Amitabh Chaudhry

Amitabh Chaudhry, MD & CEO, Axis Bank speaks exclusively to Moneycontrol on what lies ahead for the bank.

Innovation, inclusivity, and infrastructure to drive India’s banks in 2025

A cyclical slowdown awaits the economy in FY26, but banks can easily weather this

Association of NPS Intermediaries set up to enhance the pension ecosystem: Key objectives

The new NPS representative body will promote the pension scheme as a retirement product, ensure transparency and collaborate with policymakers.

Banking Central | Illegal loan sharks in the line of fire, can't escape the net for long

Illegal loan apps have thrived over years leading to a total chaos in the small loan market. It is time to rein in such loan sharks

Vault matters | Barely discussed concerns in gold loans

The year 2024 belonged to gold loans clearly. From one of the largest players, IIFL Finance, being banned for a little over six months this year to the regulator waking up the irregularities in the sector, gold loans have become the product everyone wants to focus on. But if unsecured loans are being realigned as secured gold loans product, is that proposition well thought through?

BULA Bill: Draft law to crackdown on unregulated digital lending proposes ban and imprisonment

The draft of a bill to ban unregulated digital lending has been shared to seek feedback and comments, which has provisions to impose penalties and imprisonment, and seeks to create an online database of lenders operating in India.

Don’t see the need for rate cut as yet in India: Hitendra Dave, CEO, HSBC India

While rate cuts are widely expected, the relevant issue is where is the terminal rate, says Dave

Final binding bids for Avendus Capital come through

Nomura has bid for complete acquisition of Avendus Capital, while bids from Mizuho and other interested investors expected later this week, sources have told Moneycontrol

Shriram Finance seeks record $1.25 billion offshore loan split across currencies

The loan adds to this year’s rush of offshore debt sales by Indian shadow lenders after the nation’s central bank tightened rules in November 2023 that made it increasingly difficult for the sector to obtain local currency bank loans.

HDFC Bank gets administrative warning from Sebi over delayed disclosure of mortgage head's resignation in March

Sebi also said that the lender further violated regulations by failing to explain the reason for the delay in filing the disclosure in this regard.

HDFC Bank reopens stake talks with MUFG for HDB Financial

Ahead of possible changes to the holding norms proposed by the central bank, HDFC Bank is keen to onboard a large investor in HDB Financial before it goes public

Vault matters | Why credit bureaus need to be more borrower friendly

While the central bank has taking a slew of steps to ensure that there is accuracy and faster dissemination of credit history, more can be done to increase the efficiency of credit bureaus. Unlike corporate rating agencies, retail customers barely get a chance to make a case on why the rating score may be wrong. This needs to change for deeper retail penetration

IRDAI likely to bring norms to reduce bancassurance with parent bank

The regulator is likely to encourage diversification across multiple channels to ensure balanced growth, said sources

HDFC Bank assures necessary steps after Sebi's administrative warning over merchant banking rules

The bank informed that it will take necessary steps to address the concerns mentioned in the warning letter and there is no impact on the financial, operation or other activities of bank.