Banking News

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

NBFCs set for bigger role, some could become banks in 5 years, says BCG's Saurabh Tripathi

India's banking sector on cusp of transformation amid growing interest from the Japanese and Middle East financial services and private equities, the BCG's global leader, financial institutions, tells Monyecontrol

Indian bond yield rises 2 bps on US treasury uptick after Fed rate cut

The US Federal Reserve has cut its benchmark interest rate by 25 basis points to 4-4.25% while hinting at two more cuts this year

Rupee opens 16 paise down at 87.97 as dollar index surges

The dollar index, which measures the greenback's against a basket of six major currencies, rose to 97.009 in the early trade from 96.873 after the Fed Reserve's 25 basis point rate cut

PhonePe, Paytm, Cred shut down rent payment services amid RBI curbs

The move follows the Reserve Bank of India’s (RBI) tightened Payment Aggregator (PA) and Payment Gateway (PG) guidelines, issued on September 15, which bar PAs from facilitating payments to entities with whom they lack a direct contractual relationship.

RBI sets up independent advisory group for industry feedback on regulation

The mandate of the Regulatory Review Cell is to ensure that all the regulations issued by the Bank are subject to a comprehensive and systematic internal review every 5 to 7 years, RBI release said.

NBFCs see festive credit growth in top gear, riding on auto loans after GST cuts

Analysts estimate the GST cuts to spur a strong demand for vehicles during Navratri - between September 22 and October 2 - and benefit automakers as well as financiers.

Abundant rainfall to improve agricultural output, keeping food inflation in check: S&P Global

The proposed goods and services tax rationalisation could help bring down inflation and support private consumption, said the report

Reserve Bank sets up committee for periodic review of regulations

The Reserve Bank of India has decided to strengthen the institutional mechanism for review of regulations and has constituted a Regulatory Review Cell (RRC).

PhonePe and SMFG India Credit join hands to offer collateral-free credit to micro-merchants

PhonePe said the collaboration will offer SMICC's lending expertise through PhonePe's reach, enabling easier credit access for underbanked micro-merchants.

Mobikwik swindled by merchants and users in Haryana for 'unauthorized settlements' worth Rs 40 crore

The management said it is 'actively recovering' the unauthorized settled amounts from the affected customers. The incident took place between September 11-12, 2025.

Why investors are holding on to banks despite earnings pressure

Banking shares don’t seem to be fully reflecting the challenges of lenders this year.

Rupee has it best start in 2 weeks, up 23 paise as India, US talk trade

The currency opened at 87.82 against the dollar, 23 paise up from the previous close

Chart of the Day | How food prices silently dictate headline inflation

The food inflation trajectory has quietly reshaped India’s CPI landscape so far this year.

Bankers optimistic of 11-15% credit growth in FY26

Systemic credit growth stood at 10.03 percent year-on-year in the fortnight ended August 22, signalling that banks are ramping up credit ahead of the festival season amid rate cuts and expected consumption boost following GST regime overhaul.

Cholamandalam to scale back fintech, supply-chain financing

The move will curb the AUM growth to 20-23% this fiscal from the previously projected 25-30%, president and CFO Arul Selvan has said

FPI investment in G-sec topped Rs 3 lakh crore: Here are the factors

According to the Clearing Corporation of India’s (CCIL) data, FPI investment in G-sec under FAR route increased to Rs 3.01 lakh crore in this week, as compared to Rs 2.99 lakh crore last week.

KPI Green Energy raises Rs 670 cr via 5-year externally credit-enhanced green bonds

The company is eyeing dollar bond issuances after 2027

Rupee opens 17 paise up at 88.05 as dollar index eases ahead of Fed meeting

The dollar index eased further as the US Federal Reserve begins two-day policy meeting with expectations of a larger-than-expected rate cut

Kotak811 pulls ahead of SBI Yono, becomes third-highest downloaded banking app in world in H1 2025

Unlike India, mobile banking apps have become the go-to apps for financial services across the globe. In India, payment apps are bigger than neobanking apps as the lack of regulatory approval hinders the latter’s growth

Kunal Shah's CRED launches 18 carat gold credit card with IndusInd Bank

Serial investor Shah, was upbeat about the prospects of the new products, especially the Sovereign gold card. “Take a good look because you will probably not see it. Most people will not get it.”

Utkarsh, ESAF small finance banks gear up for equity raise

Utkarsh, which closed FY25 with a net profit of Rs 24 crore, slipped into losses in the Q1 FY26. ESAF’s losses widened in FY25 and it also posted a loss in Q1

Indian rupee depreciation: What you need to know

While the rupee had already been weakening since late last year, most of the heavy depreciation and record lows have come in the current fiscal.

Indian rupee opens one paise higher at 88.26/USD ahead of US Fed's rate decision this week

Dollar held steady ahead of a pivotal week filled with central bank decisions led by the Federal Reserve, while the euro hardly reacted to Fitch's downgrade of France's credit rating.

Rupee depreciates 3.2% in FY26 but not a concern yet amid high forex reserves, say experts

Indian rupee depreciated to 88.2787 against the greenback at close on September 12, from 85.5137 on April 2, registering a fall of 2.77

Banking Central | Why investors must not ignore RBI’s warnings on crypto

The RBI has been warning for years, flagging the role of cryptocurrency in laundering, terror finance and tax evasion

Why August CPI inflation jump could be a false alarm for MPC

Headline CPI edges up to 2.07% after 10 straight months of decline, but GST relief and food deflation argue for further easing

Banks face car loan cancellations in run up to September 22 GST rate cut-off date

Compensation cess on automobiles will cease to exist effective September 22.

RBI imposes Rs 21 lakh penalty on PhonePe

In a statement, the RBI said a statutory inspection of the company was conducted by the central bank with reference to its operations for the period from October 2023 to December 2024

Insurers, distributors go zero-GST before deadline, but exempt policies will be issued from official date

Policyholders now have to the option to lock in tax savings on new insurance and renewals, with insurers offering the option to buy zero-GST policies ahead of September 22 rollout.

OPINION | Vault Matters: The unfortunate side effect of stress in the banking system

There are at least four major instances of death noted in the banking sector since the start of this fiscal. Two are natural deaths and two suicides. The common thread is that these were mid- to senior-level seasoned executives and may have been under tremendous work pressure

Indian rupee opens 4 paise up at 88.40 against dollar

A day earlier, the rupee touched a record low of 88.4563 against the dollar due to strong demand from oil and gold importers

Missed an EMI? RBI may let lenders lock your smartphone remotely

Lenders may soon get powers to remotely disable devices bought on credit, raising questions over consumer rights and data privacy.

Oil, gold importers' demand for dollar drags rupee to record low of 88.44 vs USD

Indian rupee has been under pressure since the imposition of the tariffs by the US President Donald Trump. The currency further depreciated after the tariffs were increased to 50 percent.

We don't need to overpay for deposits anymore: Unity SFB's Jaspal Bindra

We have no immediate need to raise funds. We have few years before the IPO mandate kicks in; there is ample time to plan, Bindra said

Rupee hits record low of 88.4425 against the dollar as tariff and trade uncertainty weigh

The Reserve Bank of India has in recent past intervened to arrest the slide in rupee, and market participants believe the central bank may again get active by selling dollars to ease volatility.

Leading banks to trim dividend payout this fiscal, fearing lower profit and loan growth, says S&P Global

The expected decline in dividend payouts is rooted in a ‘confluence of margin and profitability headwinds’, said Tusharika Aggarwal, equity analyst at Market Intelligence.

Moderation in investor appetite, high supply push state development loan yields up by 1% over 10-year G-sec

An analysis by Moneycontrol of the Reserve Bank of India’s (RBI) data showed that yield spread between 10-year State Development Loans (SDLs) and government securities has widened to a 5.5-year high

Rupee opens 3 paise lower at 88.13/USD as Asian currencies fall

Asian currencies logged small losses on Thursday, while the dollar index edged higher as investors awaited U.S. inflation data due later in the day.

SMBC to seek promoter tag in Yes Bank after primary capital infusion

According to sources, Yes Bank is expected to roll out a plan to raise equity by December this year. SMBC may infuse around Rs 4,000 crore in the bank to increase its stake from 20 percent to 24.99 percent.

GST cuts to support banks and NBFCs’ credit growth, no direct impact of tariff on lenders: ICRA

ICRA said the second order effect of Trump’s tariffs are likely to have an impact on the personal loan segment, with banks and NBFCs already going slow for over a year now.

GST cut likely to boost individual protection, but revival will be gradual, say analysts

The effect on volumes, product mix and profitability will depend on how distribution channels adjust, how insurers reprice to offset the loss of input tax credits, and whether employers push individual policies over group benefits.

Liquidity surplus narrows despite fund infusion post-first 25 bps CRR cut

According to RBI data, the net liquidity surplus has declined from Rs 2.87 lakh crore on September 5 to Rs 2.36 lakh crore on September 8, a drop of over Rs 50,000 crore in just three days.

Rupee opens 2 paise lower at 88.13/USD as Trump backs trade talks while reportedly urging EU to tariff India

The recent depreciation of the currency is, however, finding some support after President Trump posted on Truth Social that Washington and New Delhi will resume negotiations to resolve ongoing trade frictions, even as the US administration's 50 percent levy on Indian goods.

Chart of the Day | How lower indirect taxes could ease pressure on inflation

With recent GST reforms easing inflationary pressures and fiscal deficit projections intact, Mint Road gains more policy space while staying firmly data dependent.

PM Modi, UK PM Starmer, 17 central banks to attend Global Fintech Fest 2025

Seventeen central banks from across the world are expected to take part in the Global Fintech Fest (GFF) 2025, highlighting the event’s position as the world’s largest fintech conference.