Banking

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.

Why an uptick in bond yields is a concern for the government?

The 10-year benchmark bond yield, a threshold for borrowing rates in the money market, spiked by 18-20 basis points (bps) after the announcement of the recent GST reforms. The measures, while aimed at stabilising revenues and demand, raised speculation that that the government might adjust its borrowing program, which lead to increase in bond yields.

Prioritise compliance, fix process loopholes: IndusInd Bank new CEO’s message to business heads

In an internal meeting with select business head of the bank, Rajiv Anand is said to have asked business heads to draw up a plan within the next 45 days to tighten compliance, fill the gaps in processes and strengthening the business.

GST on insurance: Policyholders have a lot to know post GST 2.0, here's why

Here’s everything policyholders need to know about the GST cut on future premiums and policy benefits

Despite life insurers’ premium growth of 6% in August, policy sales drop 9%

Premium income for private insurers climbed 10.84 percent to Rs 65,410.42 crore during the period under review, up from Rs 59,013.14 crore last year. LIC, on the other hand, posted a modest 3.02 percent growth, collecting Rs 98,051.09 crore compared to Rs 95,180.63 crore a year ago

Currency in circulation set to rise during festive season, bolstered by GST cuts and Bihar election

Traditionally, the demand for currency in hand increases during the festival season between September and November, when India celebrates Ganesh Chaturthi, Navratri, Dussehra, and Diwali. Additionally, election-related spending also pushes up cash withdrawals in states heading to polls.

Rupee opens 26 paise up at 88 on easing dollar index

The rupee is expected to remain in the 87.80-88.30 range against the dollar

Insurance forum likely to seek clarity on input tax credit and GST exemption from IRDAI, Centre

Sources say, insurers may be fearing the possibility of customer grievances if refunds are delayed or denied, while actuarial teams face the challenge of recalculating projections for policies spanning across the transition period

India is Asia’s 3rd largest, fastest growing market for sustainability finance, says DBS Bank’s Chief sustainability officer Helge Muenkel

Businesses waiting to shift from being fossil fuels guzzlers to green units would be the focus and the sweet spot for DBS Bank's 'transition finance', says Helge Muenkel

Viyona Fintech gets NPCI nod to launch UPI services via GraamPay, Viyona Pay

The fintech, which developed GraamPay and the Viyona Pay app, said the approval will accelerate its plans to expand digital payments across Tier II, Tier III, and rural markets in India, in partnership with banks.

Ujjivan Small Finance targets Rs 1 trillion loan book by FY30, stocks soar 3 percent

This growth will be supported by an expansion of the bank's branch network from 752 to nearly 1,150 branches, Ujjivan said, adding that it aims to increase cross-selling to its customer base, including offerings such as IPO-ASBA, insurance, mutual fund distribution, remittances and co-branded credit cards.

Emirates NBD, Fairfax, Kotak Bank, Oaktree likely to bid for IDBI Bank

According to sources, financial bids for IDBI Bank is likely to be sought in October. Kotak Mahindra Bank said to have renewed its interest in the bidding process, extensive diligence underway.

Banking Central | Mint Road is upgrading its tech, that is a good change

From data empowerment to digital platforms, the central bank is not just regulating but demonstrating how technology must shape the future of Indian finance

How RBI's proposed principles-based framework can be a gamechanger for Indian fintechs

It's high time RBI empowered innovation without getting into micromanagement

Indian rupee slips to fresh low of 88.3613 against dollar on likely foreign selling, tariff pressure

Year-to-date, the rupee has lagged its Asian peers, weakening by about 2.85 percent in 2025.

Indian rupee opens 5 paise higher at 88.10/USD as Dollar Index eases

The dollar index, which measures the greenback's strength against a basket of six major currencies, fell to 98.112 in the morning from the previous close of 98.347.

IndusInd Bank rejects ex-CFO’s allegations, calls them ‘baseless and motivated’

In a statement, IndusInd Bank said its board had acted collectively to address incidents of “gross irregularity, suspected fraud and dereliction of duty” that were brought to its attention.

GST cuts to boost demand but won’t trigger credit growth as banks remain cautious over tariffs

Despite the GST relief and the upcoming festive season, lenders are exercising caution, with analysts expecting credit growth to remain largely unchanged amid trade-related uncertainties.

GST relief on health premiums may nudge insurers, companies to revisit India Inc’s employee benefits

With the GST Council continuing to levy 18 percent tax on group health policies, employers may scale back group coverage and shift toward allowances for individual insurance coverage plans.

Credit growth stands at 10.03 %, deposits outpace at 10.22%

The investment of banks in the central and state government securities grew 2.4 percent year-on-year to Rs 65.17 lakh crore as on August 22.

GST reform a timely stimulus, may pave way for further RBI easing, say economists

Experts believe the GST reform will act as a cushion against tariff-related uncertainties, and should the US levies ease, the combined tailwind along with Centre's fiscal support and easier monetary conditions could lift confidence across manufacturing supply chains.

Insurers expect surge in small-ticket policies after GST cut, bet on higher adoption with affordable premiums

Lower entry costs will encourage first-time buyers to consider insurance policies both in life and general plans, and wider adoption and a large customer base is where we see real growth and potential, say industry leaders.

Bond yields drop at the open after GST council adopts two-slab structure, slashes prices

The cut in GST is aimed at spurring consumption ahead of the festive season, even as Trump's tariffs threaten the country's exports

Indian rupee faces sharper decline against Euro, Pound, and Yen in 2025 amid global and domestic pressures

According to Bloomberg data, the rupee has weakened by 13.6 percent against the Euro, 9.3 percent against the Pound, and 8.4 percent against the Yen. In contrast, it has declined only 2.73 percent against the US dollar year-to-date.

Rupee opens flat at 88.16 against dollar as tariff uncertainty continues

The dollar index, which measures the greenback's strength against a basket of six major currencies, rose to 98.485 in the morning trade after ending the previous session at 98.397

Chart of the Day | What do the latest data show on trends in personal loan growth?

While industry and services credit remain steady, the sharp deceleration in personal loans points to cooling household demand.

SBI raises $500 mn through bonds to fund loan growth

The bank has concluded the issue of $500 million Senior Unsecured Fixed Rate Notes, having a maturity of 5 years and a coupon of 4.5 percent payable semi-annually

Indian bond yield ends 3 bps down amid short covering, FPI buying

Indian bond yield has been under pressure since last few weeks, especially after the announcement of the GST reforms by the government.

Hospitals vs insurers: All you need to know about the ongoing tiff

What started as a localised issued between Bajaj Allianz and AHPI, has turned out to become a health insurance sector issue with more players latching on to problem