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Canara Bank recovered all dues totaling ₹510 crore from Rajesh Exports. This recovery followed an order by a debt recovery tribunal. The bank initiated this action after the company blocked other recovery attempts. Rajesh Exports faced allegations of financial misrepresentation from SEBI. The bank was the largest creditor for the gold and jewellery exporter.
Published on: August 31, 2026
HDFC Bank's board faces a difficult CEO succession task with a thin internal leadership pipeline. Regulatory tenure limits may push the bank towards a wider external executive search. Analysts suggest candidates from other banks and NBFCs could be considered. Jagdishan's exit offers an opportunity for a strategic reset and narrative change. The bank's strong franchise and financial profile should mitigate transition risks.
Published on: August 31, 2026
As of October first, banks will bear the new burden of overseeing cross-border payment transactions. They are required to confirm the validity of service contracts and foreign entities involved. Furthermore, banks will also be tasked with tracking export revenues and handling overdue export bills, creating a challenging landscape in service imports and exports aimed at curbing money laundering and suspicious trading practices.
Published on: August 31, 2026
Individuals over forty hold most bank deposits, while younger workers contribute less. Term deposits grew significantly, outpacing savings and current accounts. Large deposits of one crore and above formed a substantial portion. Bank credit growth accelerated, driven by corporate sector loans. Interest rates on loans below nine percent increased notably.
Published on: August 31, 2026
HDFC Bank is actively searching for a new chief executive officer. The bank expects to appoint an executive search firm soon. Several internal and external candidates are being considered for the top position. The new leader will focus on restoring investor confidence and driving growth. This succession occurs as the bank navigates a crucial leadership transition.
Published on: August 31, 2026
A new five-member bench will decide Subhash Chandra's repayment plan. This personal insolvency case involves claims exceeding twenty-two thousand crore rupees. A previous division bench failed to reach a majority verdict on the plan. Dissenting lenders have approached the insolvency appellate tribunal regarding the matter. The bench will commence hearings on Tuesday morning.
Published on: August 31, 2026
Bank credit to industry grew by twenty percent in July, while agriculture advances expanded faster. Non-food bank credit saw nineteen point one percent growth year-on-year. Large and medium industries experienced accelerated credit growth, and micro and small industries showed steady expansion. Services sector credit grew by twenty-two point nine percent, supported by financial companies and trade.
Published on: August 31, 2026
Subhash Chandra's insolvency case: A tribunal bench referred the case for fresh adjudication. Lenders opposed a proposed repayment plan offering a deep haircut. The appellate tribunal NCLAT will hear the lenders' plea against a third member's order. This dispute arises from differing interpretations of insolvency code provisions. The case involves admitted claims exceeding twenty-two thousand crore rupees.
Published on: August 31, 2026
Bank gold loans grew significantly, though at a slower pace. Personal loans also saw increased growth, driven by housing and vehicle financing. New regulations adjusted loan-to-value ratios and repayment tenures for gold loans. Housing and vehicle loans experienced notable year-on-year increases in their outstanding amounts. Overall bank credit expanded robustly, with services sector leading the growth.
Published on: August 31, 2026
In a move to strengthen its market position, Muthoot Finance plans to incorporate Muthoot Money, its wholly-owned subsidiary, into its operations. This merger is designed to foster operational synergies and improve resource allocation. It is expected to streamline the management structure and optimize operational costs, thereby building a more competitive gold loan venture. The plan is subject to approvals from the Reserve Bank of India and various authorities.
Published on: August 31, 2026
Dissenting lenders have challenged the NCLT order approving Subhash Chandra's personal insolvency plan. The Essel Group chairman's plan proposes a Rs 6.5 crore payment against creditor claims. Lenders argued that five entities linked to Chandra's family improperly influenced the voting process. The NCLT approved the plan after a third member ruled in its favor. The appellate tribunal will now hear the lenders' challenge on Tuesday.
Published on: August 31, 2026
By the close of August, liquidity within the banking sector surged to close to Rs 5 lakh crore, fueled by government spending and inflow of foreign currency deposits. The Reserve Bank of India has adeptly utilized reverse repo auctions to manage the excess liquidity. This comfortable liquidity scenario is enhancing lending conditions and fostering credit growth, with expectations for liquidity to hover between Rs 4 lakh crore and Rs 4.
Published on: August 31, 2026
In a bold move, Gautam Adani has demanded a significant reform of the infrastructure rating models. He criticized current assessments for their inability to reflect the value generated by interconnected platforms. Adani used Mundra and Vizhinjam ports as key illustrations of vital assets, while also showcasing the substantial promise of the Khavda renewable energy initiative. He warned that success in the future hinges on merging AI with robust infrastructure.
Published on: August 31, 2026
Subhash Chandra Rs 22,006 crore case: Zee founder Subhash Chandra has shifted focus from Ambani allegations. He is now addressing outstanding dues and defending his personal insolvency plan. Borrowers linked to his Essel Group have agreed to settle their obligations. Chandra stated he acted as a guarantor for these borrowing entities. Lenders are challenging the low recovery from his personal estate.
Published on: August 31, 2026
NPCI International Payments Ltd. and Uzbekistan's HUMO have signed a commercial agreement. Indian travellers can now use UPI-enabled apps to scan UZQR codes. This pact allows instant merchant payments across Uzbekistan for tourists and students. The agreement removes foreign exchange mark-ups and the need for cash. UPI is now operational in ten countries for digital payments.
Published on: August 31, 2026
Kotak Mahindra Bank has recommended two internal candidates to succeed its CEO. Executive directors Anup Saha and Paritosh Kashyap were named for the role. These recommendations are for the Reserve Bank of India's approval. The current CEO's term concludes on December 31, 2026. The bank aims to accelerate its growth momentum under new leadership.
Published on: August 31, 2026
In a recent assessment, Moody's Ratings pointed out the leadership transition risk stemming from HDFC Bank's CEO Sashidhar Jagdishan stepping down at the end of his term in October. The agency insisted that ensuring a smooth succession is vital for upholding confidence, even as the bank's strong brand and capable management team work to lessen these risks amid challenges related to deposit practices and bond mis-selling.
Published on: August 31, 2026
PhonePe has unveiled UPI 123Pay, a new service for feature phone users that enables seamless transactions without an internet connection. The initiative targets more than 200 million users, helping expand access to digital payments across India. It supports both peer-to-peer and merchant payments using mobile numbers or UPI IDs, with future updates expected to include bill payments and mobile recharges.
Published on: August 31, 2026
Homebuyers should assess their monthly surplus before applying for a home loan. An affordable EMI fits comfortably after essential expenses and savings. Lenders assess repayment capacity, but your budget dictates the actual limit. Use an EMI calculator to test loan amounts and tenures for affordability. This ensures your EMI aligns with your financial goals and cash flow.
Published on: August 31, 2026
HDFC Bank is searching for a new chief executive officer. The bank faces challenges in integrating its merger and reviving retail lending. Its stock has declined significantly this year, impacting investor confidence. The new leader must improve loan growth and core profitability. Kaizad Bharucha is a leading internal candidate for the role.
Published on: August 31, 2026
Subhash Chandra, the chairman of Essel Group, reassured lenders regarding the reconciliation of outstanding dues from borrowers. He highlighted that his personal debt stands at zero, backed by ₹22,000 crore in personal guarantees. The repayment strategy involves Chandra committing ₹6.25 crore from his own resources, while other entities cover ₹1,494 crore. Although most amounts have been repaid, some lenders are challenging the NCLT-approved plan and are considering appeals.
Published on: August 30, 2026
Deal-making momentum is driven by available financing and open markets, while M&A activity focuses on large strategic deals. Private credit has seen a correction, which is seen as healthy for markets. High US yields influence sponsor math, but monetization and exits remain key constraints. Hyperscalers' AI financings involve third-party capital, assessing cash flows and guarantees. Companies are given leeway on AI spending, with accountability expected by 2027.
Published on: August 30, 2026
Sashidhar Jagdishan's tenure at HDFC Bank ends with operational strength but weak stock performance. The bank improved asset quality and loan book size during his leadership. However, peers like SBI and ICICI Bank generated better investor wealth. HDFC Bank's stock has fallen since its merger with HDFC. Future stock performance depends on leadership and addressing growth challenges.
Published on: August 30, 2026
Banks and credit firms will launch a responsible borrowing campaign to curb bad loans. This initiative aims to promote financial discipline among young borrowers. The campaign will address risks from rapid digital credit growth and predatory apps. It will also focus on improving credit history and timely payment knowledge. The government is pushing youth awareness on financial discipline and credit scores.
Published on: August 30, 2026
Indian Bank plans to open approximately one hundred new branches this year. The bank will also increase its workforce by about two thousand five hundred personnel. This expansion aims to strengthen its presence in Central and Western regions. Asset quality management remains a focus, with targets for reducing NPAs. The lender anticipates its gold loan book will surpass one lakh fifty thousand crore rupees.
Published on: August 30, 2026
HDFC Bank is considering Kaizad Bharucha as a potential next CEO. The bank is also seeking an external candidate for the top position. This search follows recent leadership changes and governance concerns. Sashidhar Jagdishan's retirement is scheduled for October after his second term. The Reserve Bank of India must approve the final appointment.
Published on: August 30, 2026
HDFC Bank's chief executive will not seek reappointment after October twenty-sixth. This succession occurs amid ongoing governance scrutiny and recent regulatory issues. The bank's shares have significantly underperformed its peers and the broader market. A new leader must restore investor confidence and address business challenges. The transition is crucial for HDFC Bank's future growth trajectory and standards.
Published on: August 30, 2026
Ending all speculation over extension, Jagdishan has told the board he won't be seeking reappointment. The bank will now fast-track the successor selection process.
Published on: August 29, 2026
HDFC Bank CEO Sashidhar Jagdishan will not seek reappointment after his term ends this October. He conveyed this decision to the board despite their persuasion efforts. The bank will now fast-track the process of selecting his successor. Jagdishan's tenure included overseeing the significant merger with HDFC Ltd. His departure marks the end of a nearly three-decade association with the institution.
Published on: August 29, 2026
HDFC Bank's Chief Executive Sashidhar Jagdishan will retire in October. He has decided not to seek reappointment when his current term ends. The bank's board accepted his decision after persuasion efforts failed. Mr. Jagdishan will step down from his services on October 26, 2026. This announcement was made by the lender in a stock exchange filing.
Published on: August 29, 2026
The 57th Goods and Services Tax Council meeting will convene on September 12, 2026. An Officers' Meeting will precede it on September 11 in New Delhi. Details regarding the venue and agenda will be communicated shortly. The memorandum has been sent to various government offices and state finance ministers. The GST Council is India's apex indirect tax decision-making body.
Published on: August 29, 2026
Subhash Chandra plans a professional role with Swiss investment firms. He will use his remaining Rs 6.5 crore for a repayment plan. Creditors will recover a fraction of their Rs 22,006.57 crore claims. The insolvency case stemmed from a personal guarantee for a loan default. Chandra expressed confidence in earning again and pursuing new ventures.
Published on: August 29, 2026
Dissenting banks say unresolved pleas for a forensic audit and asset trailing to be conducted on Subhash Chandra's financials to probe how his networth fell from more than Rs 40,562 cr when he issued the guarantees to Rs 32 cr in 2025, the crowding out of lenders by related party entities in the committee of creditors (CoC), and the role of resolution professional (RP) Shiv Nandan Sharma in admitting questionable entities as creditors highlights the difficulties in recovery in high-profile cases.
Published on: August 28, 2026
The Enforcement Directorate froze bank deposits worth over fifty-one crore rupees. This action is part of a fresh probe into a massive bank loan fraud. The investigation involves Dewan Housing Finance Corporation Limited and its promoters. An immovable asset in the United Kingdom was also found to be involved.
Published on: August 28, 2026
Banking sector saw deposits withdrawn and credit outstanding decrease in the fortnight. Banks are not renewing bulk deposits, opting for foreign currency funds instead. This shift slowed year-on-year deposit growth to 14.7 percent. Outstanding bank deposits stood lower at Rs 269.31 lakh crore.
Published on: August 28, 2026
The income-tax tribunal ruled in favor of Spencer Stuart International BV. Executive search fees were not treated as technical services under the tax treaty. The tribunal deleted a tax addition related to expense reimbursements. A separate dispute concerning management fees was sent back for fresh examination.
Published on: August 28, 2026
Indian Bank anticipates treasury income between Rs 1,000 and Rs 1,500 crore this fiscal year. The lender expects its gold loan book to surpass Rs 1.5 lakh crore during this period. Gross non-performing assets are targeted to decrease to 1.5-1.6 percent by year-end. The bank plans to sell Rs 200 crore in bad loans to an asset reconstruction company.
Published on: August 28, 2026
NCLT has approved a resolution plan allowing Zee founder Subhash Chandra to pay about ₹6.5 crore against ₹22,006.57 crore in admitted claims in insolvency case. The 99.97% haircut has sparked controversy, but the claims relate to his role as a personal guarantor, not personal borrowing. Creditors can retain recovery rights against the principal borrowing companies.
Published on: August 28, 2026
Non-banking financial companies are entering a new cyclical recovery phase. Loan growth and asset quality improvements are expected to drive earnings higher. Profit after tax for NBFCs is projected to grow significantly in upcoming fiscal years. However, geopolitical risks and monsoon conditions pose potential challenges to this recovery. Interest rates may also rise, impacting funding costs and profit margins for some firms.
Published on: August 28, 2026
The NCLT approved Subhash Chandra's insolvency plan, allowing a settlement of Rs 22,006 crore claims for Rs 6.25 crore. Dissenting lenders find this payout unviable, while government sources call the haircut figure misleading. Chandra disputes the total claim amount against him, stating it is lower. Creditors retain rights against principal borrowing companies and their assets. The case is exceptional and not a template for other insolvency resolutions.
Published on: August 28, 2026
Barclays is targeting India’s wealthiest founders and business owners as it seeks to expand its private banking business amid intensifying competition. The lender is leveraging its international network and capital-markets expertise to serve ultra-rich Indians with global assets, aiming for double-digit growth and deeper relationships with the country’s top promoters.
Published on: August 28, 2026
The State Bank of India forecasts a significant surge in corporate loan prospects, aiming for ₹5 lakh crore as companies pivot towards investments in renewable energy and battery storage solutions. SBI remains steadfast in its goal to secure $10 billion through FCNR(B) deposits while confidently targeting a 14-15% growth in credit. With robust capital buffers, banks are better positioned to navigate future economic fluctuations.
Published on: August 28, 2026
HDFC Bank and LIC Housing Finance will challenge the NCLT ruling on the Zee Group debt settlement. The approved plan includes a small payment from Subhash Chandra as guarantor. Several lenders had opposed this repayment plan, which was approved by the majority. Government officials clarified Chandra was a guarantor, not the principal borrower.
Published on: August 28, 2026
The chairman of the State Bank of India underscores the nation's economic resilience, emphasizing the bank's robust standing in the financial sector. With a growth forecast of 7.5% and inflation consistent with RBI predictions, SBI is gearing up for a remarkable 14-15% rise in credit, driven by retail and SME sectors. The bank is also focusing on enhancing its fee income while aiming for a 1% return on assets.
Published on: August 27, 2026
The timeline stands in contrast to Jagdishan's previous reappointment. HDFC Bank's board had recommended a fresh three-year term for him on March 4, 2023, nearly eight months before his first tenure was due to expire. The Reserve Bank of India approved the appointment in September that year.
Published on: August 27, 2026
Banks are enhancing suspicious transaction reporting for money mule accounts. They aim for better analysis and pattern identification by the principal officer. Artificial intelligence and machine learning tools are now being deployed. This initiative follows parliamentary committee recommendations for accountability. The goal is to recover funds and prevent financial system misuse.
Published on: August 27, 2026
HDFC Bank employees took swift action to block a potential digital scam targeting elderly clients. An attentive staff member noticed an anxious couple trying to send a hefty amount of money while on a video call with someone unknown. Reacting promptly, the bank team identified the suspicious activity and successfully protected the seniors from losing Rs 1.12 crore, showcasing their commitment to customer safety.
Published on: August 27, 2026
HDFC Bank plans to appeal a bankruptcy court ruling concerning Subhash Chandra. The court approved a repayment plan with a 99.97 percent haircut for lenders. HDFC Bank's claim of Rs 680 crore saw only 3.2 percent admitted. Lenders faced negligible recovery against over Rs 22,000 crore in admitted claims. The NCLT rejected objections, citing the debtor's estate value and potential future recovery.
Published on: August 27, 2026
India Ratings forecasts bank credit growth at fifteen percent for fiscal year twenty twenty-seven. Lenders will face profitability challenges due to new provisioning requirements. Deposit growth is expected to increase, helping to moderate loan-to-deposit ratios. Non-banking finance companies will focus on asset quality amid global headwinds.
Published on: August 27, 2026
Siddarth Gandotra resigns as CFO of Kotak Mahindra Investments Limited on August 31, 2026. Hiren Vora will assume the CFO role starting September 1, 2026. Vora brings eighteen years of experience within the Kotak group. Finance Minister Nirmala Sitharaman called for banking sector reform recommendations. A high-powered committee will examine banking's role in Viksit Bharat 2047.
Published on: August 27, 2026
