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Indian Bank launched new digital banking solutions at the Global Fintech Fest. AI-TARA, a voice-based assistant, offers banking services in ten languages. Smart Wealth provides a consolidated view of customer finances and spending analytics. IND Cash Optima digitizes cash management for corporate clients. These innovations aim to enhance customer experience and accessibility for all.
Published on: September 10, 2026
Fintech firms must increase investments to combat new technological threats. Emerging technologies like AI pose significant risks to India's economic progress. The FATF vice-president highlighted the need for proactive risk management strategies. Industry leaders need to understand and address these evolving challenges promptly. Timely action is crucial to safeguard the nation's growth trajectory.
Published on: September 10, 2026
India's pension regulator is developing innovative bond issuances for inflation-protected returns. Guidelines for these new products are expected within days, with rollout to follow soon. The PFRDA is also working on a guaranteed-return scheme for non-government employees. This initiative aims to provide more predictable retirement income for subscribers. The regulator also plans to expand pension coverage among informal sector workers.
Published on: September 10, 2026
Gaja Alternative Asset Management reported a 35% profit increase for the June quarter. Its income rose 26% year-on-year, reaching Rs 51.8 crore. The firm manages four funds with Rs 3,200 crore committed capital. It plans to launch a fifth fund targeting Rs 2,500 crore corpus. PwC's audit arm is now the company's new auditor.
Published on: September 10, 2026
The landscape of digital finance is evolving as India's payments authority creates a registry specifically for AI agents. This registry aims to verify and oversee AI transactions, initially targeting UPI payments, with potential future expansions. By facilitating agentic payments, AI will be enabled to engage in frequent, minor digital transactions, resonating with global initiatives aimed at the identification and validation of AI-driven financial agents.
Published on: September 10, 2026
BharatPe unveiled BharatPe Flex, a new consumer credit offering built on UPI. This innovative product allows users to access credit limits up to sixty thousand rupees. Eligible users can utilise this credit for everyday UPI merchant payments seamlessly. Spends can be settled in full within forty-five days or via flexible monthly installments. The company also launched a new brand campaign featuring Rohit Sharma to promote this service.
Published on: September 10, 2026
State Bank of India anticipates deploying foreign currency deposits over three months. The bank is enhancing artificial intelligence adoption across key operational areas. Agentic AI will perform tasks autonomously, improving efficiency and risk management. This technology aims to extend personalized financial advice to millions of customers. Stronger controls and human oversight will guide AI's increasing financial participation.
Published on: September 10, 2026
HDFC Bank has won all seven Bahrain cases filed by Credit Suisse AT1 bond investors, who accused the lender of mis-selling the risky securities. The Bahrain court rejected all allegations, saying investors failed to provide sufficient evidence linking HDFC Bank to their losses.
Published on: September 10, 2026
Agentic AI's growing use in finance necessitates new checks beyond customer identification. Banks may develop a 'Know Your Agent' framework for autonomous systems. This framework will address AI identity, authentication, and transaction limits. Such systems require accuracy, accountability, and unbiased access for trust. India aims for intelligent inclusion by scaling AI financial services.
Published on: September 10, 2026
The National Housing Bank raised concerns over SRG Housing Finance, identifying potentially fictitious loan accounts. Investigations have revealed that around one-third of the lender's loan portfolio consists of these phantom accounts. The inquiry also indicated possible manipulation regarding non-performing assets and the practice of evergreening. Funds linked to these dubious accounts were allegedly redirected to promoters' entities. This issue surfaces amid heightened scrutiny on smaller housing finance firms.
Published on: September 9, 2026
Recent foreign currency deposits could provide a short-term uplift to the growth patterns in bank lending. With the narrowing of differentials, it's anticipated that domestic interest rates will rise soon. The banking sector is poised for accelerated consolidation in the upcoming years, favoring larger banks that leverage scale and technological innovation. In this landscape, Axis Bank is gearing up to implement AI-driven strategies to enhance customer engagement.
Published on: September 9, 2026
Zuno General Insurance has launched a new product called Fuel Guard. This add-on covers damage to cars caused by blended fuel use. The product offers protection for specified engine and fuel-system components. It is available for cars purchased after April 2023. This initiative supports consumers in a changing fuel landscape.
Published on: September 9, 2026
Bank of Baroda MD and CEO Debadatta Chand said the financial system needs to invest significantly more in financial and digital literacy to combat rising cyber fraud. He identified vulnerabilities at both banks and customer levels, while highlighting investments in cybersecurity, AI-based underwriting and cash-flow-based financing for MSMEs.
Published on: September 9, 2026
RBI Deputy Governor Rohit Jain warned financial institutions and fintech firms that rapid adoption of emerging technologies brings risks around speed, concentration and opacity. He said institutions must ensure technology works fairly, reliably and safely for customers, while retaining responsibility for outcomes even when computing, cloud infrastructure or models are outsourced.
Published on: September 9, 2026
Axis Bank CEO Amitabh Chaudhry expects India’s bank credit growth to moderate to 15-16% this year from the current 18-19%, partly due to the base effect and FCNR(B) inflows. He also warned of possible rate hikes in October and December as the India-US interest-rate gap narrows.
Published on: September 9, 2026
DFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowers to use sanctioned credit limits for merchant payments through UPI. The move could widen digital access to formal credit for farmers and small businesses, with more banks expected to join.
Published on: September 9, 2026
The Reserve Bank of India has approved ICICI Prudential Asset Management Company's proposal. This approval allows an aggregate holding of up to 9.95 percent in AU Small Finance Bank. The approval covers various schemes and funds managed by the asset manager. AU Small Finance Bank received the official approval letter on September 8, 2026. This decision is subject to compliance with all relevant banking and financial regulations.
Published on: September 9, 2026
Jio Payment Solutions has launched a new cross-border payment platform. This facility helps Indian exporters receive international payments from global customers. The platform allows payments via virtual accounts and international cards. This launch follows authorization from the Reserve Bank of India for PA-CB transactions. It simplifies global collections and supports compliance for businesses scaling internationally.
Published on: September 9, 2026
RBL Bank and Bank of Maharashtra are actively promoting dollar bonds in international markets as they look to refinance short-term loans acquired for FCNR(B) deposits. Meanwhile, UCO Bank and Bank of India are also gearing up for similar fundraising initiatives overseas, aiming to optimize their asset-liability structures following the closing of the FCNR(B) window.
Published on: September 9, 2026
Axis Bank plans to temporarily relocate staff across multiple Mumbai offices. The bank seeks a larger single office space for its employees. This move comes as their current headquarters will be demolished. A new 32-storey tower is expected to be ready in five years. This situation highlights Mumbai's growing office space demand challenges.
Published on: September 9, 2026
In a strategic move, India and Saudi Arabia have agreed on a three-year deal aimed at invigorating their fintech sectors and startup ecosystems. This collaboration is focused on enhancing market access and attracting investments. By linking startups and fintech enterprises with investors, the initiative is set to solidify economic relations and technology partnerships, resulting in expanded business opportunities.
Published on: September 9, 2026
At Global Fintech Fest 2026, PhonePe founder‑CEO Sameer Nigam framed the company’s first ten years as the construction of India’s financial rails and unveiled a second act tied to a single question: whose progress still remains outside the frame?
Published on: September 9, 2026
PhonePe's Rahul Chari dismissed card tokenization security concerns, stating no fraud is enabled. The company launched three new payment solutions with Visa at the Global Fintech Festival. PhonePe now offers Cross Border Scan to Pay for international transactions. It also enables micro-merchants to accept card payments using its Smart Accept solution. Consumers can now make credit card payments using their phones at small merchants.
Published on: September 9, 2026
In an exciting new venture, Paytm is venturing beyond its established digital payments realm to launch Pi, an innovative service offering artificial intelligence agents specifically tailored for enterprise clients. This strategic move will focus on financial institutions in India and the UAE. After dedicating two years to perfecting a financial services AI model, Paytm hopes this expansion will significantly elevate revenue and profitability.
Published on: September 9, 2026
Multipl has launched a new spending account linked to UPI payments. This innovative account allows users to invest money earmarked for daily expenses. Funds are placed in liquid mutual funds and redeemed automatically for payments. The platform aims to scale this product significantly over the next year. This new offering combines investing, liquidity, and seamless payment capabilities.
Published on: September 9, 2026
Younger consumers and rural households are driving India's retail credit market growth. These aspirational borrowers now account for most new credit originations. Digital platforms and alternative data are key to assessing these new customers. Lenders must adapt underwriting to understand diverse financial footprints. This shift promises wider credit access and financial inclusion for many.
Published on: September 9, 2026
IDFC FIRST Bank has been awarded a BBB- Long-Term and A-3 Short-Term credit rating, underscoring its strong capital position and operational expertise. This evaluation enhances the bank's access to international funding and global markets. The stability of its retail deposit base contributes to a solid outlook, setting the stage for IDFC FIRST Bank's future growth and expansion endeavors.
Published on: September 9, 2026
At Global Fintech Fest 2026, PhonePe co-founder and CPTO Rahul Chari laid out an AI philosophy built on intent-led experiences, engineering scale and operational efficiency.
Published on: September 9, 2026
India aims to export digital financial services leveraging its fintech expertise. This expansion moves beyond traditional IT and professional services exports. Fintech solutions like UPI demonstrate India's capability for global adoption. Digital lending and e-commerce exports also present significant international opportunities. India's government supports these ventures through various initiatives and agreements.
Published on: September 9, 2026
The landscape of retail lending is shifting as non-bank lenders swiftly embrace smaller ticket personal and consumer durable loans. NBFCs and fintech firms are not just leading originations by both volume and value; they are redefining lending opportunities as the economy continues to develop. Banks are still integral, providing necessary funding to NBFCs and utilizing securitization, contributing to a dynamic credit ecosystem with expanded avenues for access.
Published on: September 9, 2026
Announced at Global Fintech Fest 2026, the partnership positions PhonePe as India’s first app to offer a unified suite of Visa-powered cardless payment solutions for consumers and micro-merchants.
Published on: September 9, 2026
IIFL Finance denied reports of Fairfax exiting the company. These reports suggested a stake sale to fund an IDBI Bank acquisition. Blackstone is reportedly in talks with Fairfax for this stake. This potential deal comes as India's financial sector attracts acquisitions. Blackstone previously invested in Federal Bank last year.
Published on: September 9, 2026
With plans for a substantial expansion in India's digital payments sector, Adyen is actively recruiting more staff to address surging demand. This growth is largely attributed to a rise in cross-border transactions and the influx of multinational clients. Since acquiring relevant licenses, Adyen has been enhancing its presence in India and now sees promising long-term growth opportunities ahead.
Published on: September 9, 2026
Banks are planning to auction cars and vehicles on the BAANKNET platform. This initiative aims to streamline the recovery of non-performing assets for lenders. The platform will integrate with VAHAN and RTO services for complete vehicle information. PSB Alliance operates BAANKNET and has already facilitated numerous property auctions. This expansion seeks to enhance efficiency and transparency in asset recovery processes.
Published on: September 8, 2026
The Roy family has secured control of the Peerless conglomerate after a long legal dispute. The Supreme Court dismissed a petition, ending a three-decade corporate legal battle. This judgment brings finality to a significant chapter in Peerless's history. The family holds approximately sixty-six percent of the company's shares. The court upheld the validity of the company's past decisions.
Published on: September 8, 2026
Shriram General Insurance has partnered with SK Finance to enhance customer access to insurance products in vital markets. This exciting collaboration will allow SK Finance to utilize its broad branch network to distribute these offerings effectively. Through this partnership, customers will benefit from relevant insurance solutions available via SK Finance’s extensive distribution channels, while Shriram General Insurance will handle all claims and service requests efficiently.
Published on: September 8, 2026
LIC does not expect the government to sell another stake in the insurer in the immediate future, CEO R Doraiswamy said. The state-owned insurer will focus on long-term investments, technology, simplifying claims and expanding protection and retirement products as it seeks wider insurance coverage.
Published on: September 8, 2026
With over $127 billion raised in overseas FX deposits since June, Indian banks are now confronting a risky situation regarding unhedged future interest payments. This creates a likelihood for heightened dollar demand, posing a threat to the rupee's stability. While many foreign banks have taken precautionary measures, Indian lenders have not. If the rupee faces renewed weakness, it could spark a frantic quest for dollars amid rising exchange rates.
Published on: September 8, 2026
S&P Global Ratings assigned a BBB long-term rating to Bank of India. This rating reflects sufficient capitalisation, solid funding, and healthy liquidity for the bank. The agency noted the likelihood of extraordinary government support if needed for the state-run bank. Bank of India's role in financial inclusion and strong government links underpin its creditworthiness. Profitability and asset quality lagging industry averages temper these strengths, S&P stated.
Published on: September 8, 2026
When choosing an Indian forex broker, it's essential to evaluate their regulatory compliance and account protection measures thoroughly. Analyze trading costs such as spreads, commissions, and swap fees. Opt for a trading platform that provides real-time pricing along with effective risk management features. Don't forget to scrutinize withdrawal policies and any potential fees from third parties, along with understanding partner programs' eligibility and payout details.
Published on: September 8, 2026
Indian insurers are seeking greater flexibility in using equity derivatives, including allowing exposure to be aggregated across multiple funds rather than applying limits separately. The move could help insurers hedge broader equity portfolios, but adoption remains limited. Irdai allowed insurers to use equity derivatives solely for hedging existing equity exposures in February 2025.
Published on: September 7, 2026
The Insurance Regulatory and Development Authority of India has imposed a ₹1 crore penalty on ICICI Lombard General Insurance for lapses in outsourcing, vendor management and corporate governance. The regulator said the insurer failed to classify event management services involving agents of other insurers as outsourced activities or report related expenses.
Published on: September 7, 2026
India’s private banks saw fresh lending spreads widen sharply in July as FCNR(B) inflows improved liquidity and reduced reliance on expensive wholesale funding. Fresh spreads rose 22 basis points to 3.13%, nearly double those at public sector banks. However, analysts cautioned that margin gains could prove gradual and difficult to sustain.
Published on: September 7, 2026
The finance ministry said in a statement Monday it has taken cognisance of the concerns and decided to keep the implementation in abeyance in response to the employee representation on the PLI structure. The matter will now be discussed during the ongoing bipartite settlement or joint note discussions, it said.
Published on: September 7, 2026
Fairfax Financial Holdings plans to exit IIFL Finance to fund its IDBI Bank acquisition. The investor will use proceeds to part-fund the proposed takeover of the state-owned lender. Fairfax intends to merge CSB Bank with IDBI Bank after completing the acquisition. This move aims to simplify lending interests and avoid business overlaps. The deal is expected to be completed shortly after procedural steps.
Published on: September 7, 2026
Indian companies filed proposals worth $7.70 billion for external commercial borrowings in July. This represented a significant 27% growth over the previous month's figures. The Reserve Bank of India had eased its borrowing framework earlier in February. Air India and Interglobe Aviation together filed proposals worth $780 million. These companies sought special permissions from the central bank for their borrowings.
Published on: September 7, 2026
The government has postponed the performance-linked incentive scheme for bank employees. This decision follows employee representations seeking a review of the existing structure. Finance Minister Nirmala Sitharaman met with bank employee representatives to discuss their concerns. The scheme's implementation for 2025-26 will be kept in abeyance. Discussions will continue through bipartite settlement and joint note talks.
Published on: September 7, 2026
SBM Bank India is considering selling a twenty-six percent stake to raise expansion funds. The bank has appointed a consultant and is currently at the Expression of Interest stage. The parent company recently infused seventy-five crore rupees and will provide more capital. SBM Bank India aims for significant credit growth and is strengthening its digital wealth offerings.
Published on: September 7, 2026
SBM Bank India is exploring a twenty-six percent stake sale to fund its expansion plans. The bank has appointed a consultant and is currently at the Expression of Interest stage. Parent entity has infused capital, and another infusion is expected this month. SBM Bank India aims for significant credit growth and is expanding its branch network. The bank is also strengthening its digital wealth proposition with a new investment platform.
Published on: September 7, 2026
RNFI Services has received in-principle RBI authorisation to operate as a Payment Aggregator-Physical (PA-P), allowing it to expand into offline and in-store payments. The approval adds another regulated payments capability to its existing financial services portfolio, including money movement, mutual fund distribution, insurance broking and prepaid payment instruments.
Published on: September 7, 2026
