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15 articles

banking2d ago

Fintechs tell NPCI its 'default app' plan could kill competition

Seven Indian fintech firms have written to NPCI regarding its UPI Meta protocol. They argue the proposed framework risks locking customers into a single default payment app. This change could adversely impact competition and innovation within the digital payments ecosystem. The companies request broader consultation before NPCI proceeds with the framework. They believe the current UPI checkout flow does not require such a significant alteration.

Banking/Finance-Industry-Economic Times

banking2d ago

Godrej Capital aims to grow gold loan book to Rs 5000 crores by 2031

Godrej Capital aims to build a Rs 5,000 crore gold loan book. This expansion follows their acquisition of Kanakadurga Finance's gold loan portfolio. The company plans to increase its specialized gold loan branches to 350. This strategy involves deepening presence in existing regions and launching new operations. Godrej Capital targets a Rs 1 lakh crore overall AUM by 2031.

Banking/Finance-Industry-Economic Times

banking2d ago

India in strongest credit growth phase since 2012 on robust corporate demand: Report

India's credit expansion is currently its strongest since 2012. Corporate loan growth reached a thirteen-year high in May. Household loan growth has also remained resilient for four months. Non-banking financial companies saw retail loan growth accelerate significantly. Overall credit demand is expected to remain strong in coming quarters.

Banking/Finance-Industry-Economic Times

banking2d ago

Three US law firms probe HDFC Bank over alleged Maharashtra deposit payments

HDFC Bank is facing fresh scrutiny in the US after three law firms launched investigations into whether the lender violated federal securities laws over allegations that it disguised ₹45 crore in payments to the Maharashtra State Road Development Corporation (MSRDC) as marketing expenses.

Banking/Finance-Industry-Economic Times

banking13h ago

IRDAI chairman wants affordable insurance for all

IRDAI chairman Ajay Seth defined 'Insurance for All' as available, accessible, and affordable products. He stressed the need for full transparency and informed consent from the public. Products should cater to diverse economic and societal segments across the nation. Transparency offers the best solution for addressing current challenges effectively. Incentives linked to sales quality, not just volume, are also crucial.

Banking/Finance-Industry-Economic Times

banking13h ago

AU Small Finance Bank Q1 net rises 37% to ₹796 crore

AU Small Finance Bank saw net profit rise thirty-seven percent to ₹796 crore. This growth was driven by better asset quality and healthy business expansion. Pre-provision operating profit increased nine percent year-on-year to ₹1435 crore. Net interest income surged thirty-two percent, boosting overall financial performance. The bank also announced Yogesh Jain's elevation to deputy chief executive officer.

Banking/Finance-Industry-Economic Times

banking22h ago

SBI recruits 1,930 Circle Based Officers to strengthen banking operations

State Bank of India has recruited 1,930 Circle Based Officers nationwide. These new officers will strengthen customer service and banking operations across all branches. They will support customer engagement and deliver personalised banking services to over 53 crore customers. The bank continues to invest in talent development for an agile banking ecosystem. This recruitment reflects SBI's focus on evolving customer needs and digital initiatives.

Banking/Finance-Industry-Economic Times

banking1d ago

Index entry wait may temper bond rally

The rally in Indian government bonds is expected to lose momentum as hopes of inclusion in Bloomberg's Global Aggregate Index fade and the yield gap with developed markets narrows, with traders expecting yields to remain range-bound amid higher borrowing, interest rate uncertainty and crude oil price volatility.

Banking/Finance-Industry-Economic Times

banking1d ago

More banks may join overseas bond run

ICICI Bank's $1 billion dollar bond sale via GIFT City, which drew strong global investor demand and secured lower borrowing costs, is expected to spur more Indian lenders to tap overseas debt markets under the RBI's subsidised hedging facility.

Banking/Finance-Industry-Economic Times

banking1d ago

CreditAccess Grameen Q1 net profit jumps 8-fold to Rs 493 cr

CreditAccess Grameen reported an eight-fold increase in profits during the first quarter, driven by improved ground-level repayment rates and enhanced asset quality. The firm's pre-provision operating profit surged by thirty-four percent, while total income jumped twenty-two percent to achieve one thousand seven hundred eighty-four crore. Additionally, assets under management grew by sixteen point four percent, demonstrating a solid influx of new customers.

Banking/Finance-Industry-Economic Times

banking1d ago

Bank credit growth eases to 17.7% in fortnight to July 15

Bank credit growth saw a slight deceleration to 17.7 percent year-on-year. Deposit growth also moderated to 12.7 percent in the same period. Outstanding bank credit reached Rs 217.3 lakh crore by mid-July. Deposits stood at Rs 262.9 lakh crore, maintaining a healthy ratio. Bankers noted steady credit demand, especially from the corporate sector.

Banking/Finance-Industry-Economic Times

banking1d ago

Bank of India aims to raise $1.2 billion through FCNR-B deposits, plans additional $2 billion overseas borrowing

Bank of India seeks $1.2 billion from foreign currency deposits and $2 billion from overseas borrowings. The bank has already secured $200 million through the FCNR-B window. This initiative aims to reduce reliance on costly bulk deposits for the institution. First quarter net profit jumped 36% to Rs 3,068 crore, showing strong performance. Advances grew 18.6% while deposits increased 14.9% during the period.

Banking/Finance-Industry-Economic Times

banking2d ago

Regulator warns insurers against deep discounts on fire risk cover

The insurance regulator has flagged aggressive underpricing in fire insurance, with discounts of up to 99% on large industrial risks, warning it could hurt insurers’ financial health and underwriting discipline. Fire insurance premiums fell sharply in Q1 FY27 to ₹8,087 crore from ₹11,206 crore a year ago, after strong growth in FY26.

Banking/Finance-Industry-Economic Times

banking2d ago

Primus, HDFC Capital to set up Rs 2,000 crore senior living platform

Primus Senior Living and HDFC Capital have launched a Rs 2,000 crore investment platform to develop senior living communities across six major Indian cities, marking what they describe as the country's largest institutional investment in the segment. The partnership aims to expand purpose-built, institutional-grade senior housing through ownership and rental models, targeting a rapidly growing elderly population while addressing the sector's limited supply of professionally managed communities.

Banking/Finance-Industry-Economic Times

banking2d ago

Parliamentary panel backs Sebi board expansion, longer cooling-off period for top brass

Standing Committee on Finance, headed by Bhartruhari Mahtab, backs key provisions of the Securities Markets Code Bill, including raising Sebi board strength to 15 from 9, and calls for a regulatory framework for virtual digital assets

Banking/Finance-Industry-Economic Times

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