Banking News

Goenka, who took charge on October 15, 2024, stepped down from the role this month, ending an 11-month tenure at the company

RBI monetary policy committee: Why jump the gun?

There is scope for 20-30 bps increase in the official FY26 growth forecast and a downward revision of a similar magnitude to inflation.

Would it benefit the economy if RBI surprises market with a rate cut in October policy?

The MPC meeting which has started on September 29, will deliver its decision on the rate action on October 1.

RBI’s challenge: How to up growth forecast, but sound dovish

RBI faces a policy test: lower inflation, higher growth forecasts. Markets await dovish signals beyond rate action in October policy.

Indian rupee opens 6 paise higher ahead of RBI policy, outperforms weak Asian currencies

Moneycontrol's poll of economist, treasury heads, and fund managers showed that the Reserve Bank of India’s monetary policy committee (MPC) is likely to maintain the status quo on interest rates in its October review.

RBI MPC meet: A pause is most likely

The GST cuts announced, however, changes the view now. With these cuts expected to raise consumption, there would be a tendency for capacity utilisation to improve leading to higher investment. A rate cut can then be justified on grounds of supporting growth.

This year, priority is smooth merger integration, before we accelerate loan growth again: Tata Capital's Rajiv Sabharwal

Going forward, the board will decide the best way to raise money, be it through rights issues or other routes, Sabharwal said.

Battle for India’s largest mid-sized bank intensifies 

While the top 3 private lenders HDFC Bank, ICICI Bank, and Axis Bank have stayed steady for over a decade, most of the action in the pecking order has been in the mid-tier where banks have swapped ranks in a tight contest

Cross-border transactions, wealth management will remain focus areas: PD Singh, Standard Chartered's India & South Asia CEO

Stating that the India franchise is adequately capitalised for the next five years, Singh expects the bank’s corporate book to grow 10-12% in FY26, though some large M&A deals could accelerate growth.

Best for RBI to save the bullet on rate action, says ANZ Research's Dhiraj Nim

The MPC, which has cut rates by 100 bps this year, is expected to hold the rates on October 1, a Moneycontrol poll of economist, fund managers and treasury heads has said

Rupee breaks the fall, opens 4 paise up at 88.67 against dollar

The rupee mirrored the broader trend as Asian currencies marched higher and equities rose following US inflation data

RBI MPC meet today: Will rate panel go for a cut amid growth uncertainty?

Moneycontrol had earlier reported that bankers have ruled out a rate cut in the upcoming monetary policy review but they do expect one more cut in the current fiscal

RBI MPC Meet: Status quo likely, but a growth pivot can’t be ruled out

Benign inflation and sluggish credit raise chances of a cut, though the base case remains an extended pause

Banking Central | Why it is a win-win for PSBs and NBFCs to join hands in MSME lending

Entering in pact with NBFCs can help banks expand reach but with necessary checks

Festive sales drive online credit card spending to all-time high, likely to touch Rs 1.2 lakh crore in September

Interestingly, the debit card payments online is likely to be much below last October’s figures, an indication that more people are shifting their online purchases to credit cards to avail offers

Groww grabs double-digit share in public issue of three bonds within few months of debut

Currently, Groww platform has an active bond subscription open for Edelweiss Financial Services, which will end on October 16.

Deposit growth of foreign banks’ Indian branches decelerated to 6.8% in FY25, shows RBI data

Foreign banks in India registered robust credit growth of 8.4 percent during the year 2024-25, a marginal increase from 8.1 percent in the previous year.

RBI skips dollar purchases in July for first time in over a decade as rupee pressure mounts

India’s foreign exchange reserves were down $10.87 billion at $688.871 billion on August 1. On July 4, they stood at $699.736

While MPC poll sees a pause in October, some street voices hoping for an accommodative stance

Some market veterans believe that more than the rate cut, investors may find support from a change in stance by the central bank, signalling a dovish tilt by the RBI.

Indian rupee five paise weaker after fresh Trump tariffs on branded pharma

Asian currencies are also trading down with Taiwanese Dollar down by 0.42 percent, Thai Baht down by 0.26 percent, Malaysian Ringgit down by 0.21 percent, and South Korean Won by 0.12 percent, according to the Bloomberg data.

Banks are no longer at the centre of funding for the economy

India’s economic growth is not always bank-led

Financial institutions must maintain strong balance sheet to fund infra investments: Sitharaman

Sitharaman said state-owned banks need to engage proactively with NBFCs on co-lending for priority sector lending to enhance credit flow to the underserved sectors

RBI sold net $2.54 billion in spot forex market in July

The central bank in the Bulletin said that it purchased zero dollars and sold $2.54 billion during the period.

RBI Bulletin: Private banks sees faster decline in weighted average lending rate than PSU banks

The weighted average lending rate on fresh and outstanding rupee loans of scheduled commercial banks declined by 53 bps and 49 bps, respectively, in the current easing phase.

RBI Bulletin: GST reforms to result in gains in ease of doing business, strengthening of consumption

RBI says GST reforms will boost ease of doing business, cut prices, and spur consumption, with MSMEs and startups set to gain from simplified rules.

Mumbai Police EOW records statement of IndusInd Bank's ex-CEO Sumant Kathpalia in accounting lapses probe

This is the third such statement recorded by the Mumbai Police's EOW in this week. Prior to this, the police have recorded the statement of former IndusInd Bank Chief Financial Officer (CFO) Gobind Jain, and Deputy CEO Arun Khurana, this week.

Rupee opens flat at 88.75 as US visa fee hike worries persist

A day earlier, the rupee ended at a record low against the dollar amid growing worries over remittances and IT sector growth after the H-1 B visa fee hike

Chart of the Day | Decoding the August core sector data

Month-on-month growth tells a more nuanced story than headline numbers suggest

Banking system liquidity turns deficit after 6 months on tax outflows

The RBI has conducted two variable rate repo auctions to inject liquidity in the banking system

L&T Finance hopes to succeed in assessing borrower quality through its underwriting engine

According to Sudipta Roy, MD & CEO, L&T Finance V 3.0 of Project Cyclops processes 1,400 transactions per second as against the 100 transactions processed by V 1.0. Bounce rates for two-wheeler loans underwritten through this system have fallen from 20 percent to 7 -8 percent, he says

Applicative AI and 'techno-managers' will drive future BFSI winners, says Sudipta Roy of L&T Finance

Payments, affordable housing, consumption finance including checkout financing are the new areas of interest for L&T Finance, as they blend with the company’s strategy on delivering return on assets and the risk profile of customers it targets.

Erratic rainfall in some states may dampen asset quality of banks’ farm loans in Q2

In the last few months, some states has recorded excess to 'large excess rainfall' leading impact on kharif output. The heavy downpours have caused flooding and waterlogging in fields, especially during the critical growth stages of the kharif crop

Rupee ends record low of 88.76/USD as H-1B visa fees adds to worries over FPI outflow

The hike in fresh H-1B visa fee from next year has sparked worries over lower remittances, and potential equity outflows from India’s IT sector, which could be a double hit that the rupee could ill afford, at a time when foreign inflows have already been weak.

Rupee hits all time low of 88.49 in early trade on weak Asian cues

Asian currencies were trading down today with South Korean Won down by 0.22 percent, Thai Baht by 0.16 percent, Indonesia Rupiah by 0.08 percent, Singapore dollar, Japanese Yen and Hong Kong Dollar by 0.05 percent each, according to the Bloomberg data.

Rupee opens 9 paise down at 88.19 against dollar

The dollar index, which measures the greenback's against a basket of six major currencies, rose to 97.774 in the early trade from 97.664.

Banking Central | Be watchful in good times to avert bad ones

Most of the past crises erupted not during downturns but amid seeming prosperity, often due to governance lapses, evergreening of loans and regulatory blind spots. Complacency can lead to another Yes Bank or PMC debacle

Back from the brink, Yes Bank says SMBC stake buy creates room for rating upgrade

In March 2020, weeks before the onset of the Covid crisis, the RBI and government staged a rescue act which saw banks led by SBI taking a 79 per cent stake in Yes Bank and helping it stay afloat.

CCIL to explore infrastructure to facilitate trading, settlement for currency beyond USD/INR, says RBI Governor

He also advised CCIL to keep pushing at the frontiers of technology, be ahead of others and provide world-class experience and world-class facilities, world-class risk management and improve upon the trust which they have already built for themselves.

Yes Bank eyes wealth foray after deal with Japan’s SMBC

The push into wealth management comes as the Indian lender deepens its ties with SMBC, Japan’s second-largest lender by assets, which completed its acquisition of a 20% stake in Yes Bank this week

NaBFID is supporting municipal corporations with access to capital market, says MD Rajkiran Rai

In recent months, multiple urban bodies, including tier-II cities, have successfully closed bond issuances for infrastructure projects like water supply augmentation, sewage treatment, and urban transport, with NaBFID playing a strategic underwriting role.

SEBI, RBI in discussion to encourage trading in corporate bond index derivatives, says Ananth Narayan

On the municipal bonds front, he said that from 2017 till date, just 16 issuances have happened amounting to Rs 3,134 crore, which is a mere 0.02 percent of GDP.

Vault Matters | Can a Sumo wrestler play kabaddi? That’s SMBC’s real challenge with Yes Bank

There have always been a lot of apprehensions on what incremental value add a foreign bank can bring to India, more so with the exit of biggies such as Citi and Deutsche from India’s retail terrain. Can Sumitomo Mitsui Banking Corporation help find an answer?

Reserve Bank of India said to urge lenders to cut retail service charges

There are no mandated thresholds on bank surcharges. Processing fees for retail and small business loans typically range from 0.5% to 2.5%, with some banks capping home loan charges at Rs 25,000, according to data compiled by BankBazaar, an online financial marketplace.

Trump tariffs and FII outflows keeping Rupee weak despite dollar's sharp decline this year

The Indian rupee has depreciated around 3 percent in FY26 so far, but experts believe it is not yet a concern for India amid strong external position underpinned by record forex reserves and ample tools with the Reserve Bank of India to stabilise currency.

RBI unlikely to rush into rate cuts despite US Federal Reserve easing, say experts

The RBI is likely to focus on domestic cues such as inflation and growth numbers before taking a decision. The next policy review is due October 1

Rupee opens 9 paise weaker at 88.22/USD as dollar strengthens

The dollar index, which measures the greenback's against a basket of six major currencies, rose to 97.341 in the early trade from 97.348.

Godrej Finance partners with Muthoot FinCorp to enhance credit access for MSMEs

The co-lending partnership will offer loan against property ranging from Rs 10 lakh to Rs 75 lakh, with an average ticket size of Rs 15 lakh, release added.

NaBFID is a success story by combining the right timing, institutional maturity, and strategic clarity, says MD Rajkiran Rai

Our cumulative sanctions to date have crossed Rs 2.5 lakh crore. We’re projecting this to increase to around Rs 3.2 lakh crore by March 2026. These are projects that have already been appraised and committed to, but disbursement happens progressively, especially in infrastructure, Rai said.

Asset monetisation plan needs to be accelerated, says SEBI Chairman

Pandey said that relying solely on the banks and government budgets for infrastructure financing exposes the concentration risk.

Micro-covers turning 'push' insurance into 'pull' products, says Universal Sompo CEO

Regulators are also examining structural reforms such as monoline alongside composite licenses, which could reshape the way insurers operate in India, Mathur says