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The Reserve Bank of India is actively seeking opinions on the possible appointment of Anup Bagchi as CEO of HDFC Bank. Currently with ICICI Prudential Life, Bagchi is seen as the leading contender for this key position. The RBI is weighing his move back into traditional banking following a break. Furthermore, HDFC Bank has suggested Kaizad Bharucha, which requires adjustments to existing tenure regulations.
Published on: September 21, 2026
Bandhan Financial Services will reduce its stake in Bandhan Bank gradually. The promoter aims to comply with RBI regulations by 2030. Recent share sales occurred on the open market, lowering holdings. A proposed stock split will divide shares to attract retail investors. Shareholders will review this plan at the upcoming annual general meeting.
Published on: September 21, 2026
Government may end UPI subsidies for small transactions as merchant fees are introduced. Taxpayer-funded incentives for UPI and RuPay transactions are being phased out. No new subsidies have been paid for transactions since April 2025. This shift aims to make the payment ecosystem self-sustaining and reduce taxpayer burden. Incentive disbursements have significantly decreased in recent fiscal years.
Published on: September 21, 2026
The Finance Ministry urged bank employees to resolve demands through dialogue and avoid strikes. Most union concerns have been addressed, and welfare measures are being introduced. A three-day strike is planned from September 28, impacting banking services. This strike coincides with the half-yearly closing of the banking sector. The government remains committed to employee welfare and constructive engagement.
Published on: September 21, 2026
RNFI Money, a wholly owned subsidiary of RNFI Services, has received RBI approval to undertake cross-border trade remittances. The licence will allow it to expand regulated foreign exchange, remittance and trade-payment services through RNFI’s existing last-mile network, alongside the parent company’s recent in-principle authorisation to operate as a Payment Aggregator–Physical (PA-P). The company said the licence has perpetual validity.
Published on: September 21, 2026
The Reserve Bank of India has issued revised market risk capital requirements for commercial banks, aligning Indian regulations with Basel III standards. Banks must adopt the framework by April 1, 2027. The directions revise rules for trading books, foreign exchange risk, interest rate risk, debt funds and credit derivative hedges.
Published on: September 21, 2026
Streamlined used-car platforms are revolutionizing the buying experience by presenting pre-approved loan options with transparent charges. Unlike traditional banks that may provide attractive rates, they often require lengthy paperwork. It’s essential for buyers to evaluate interest rates and associated costs prior to financing. Financing eligibility is determined by credit scores, income verification, and current debt levels. Services like Cars24 simplify vehicle purchases by incorporating financing directly into the process.
Published on: September 21, 2026
Former NITI Aayog vice-chairman Rajiv Kumar has urged the government to keep UPI merchant payments free for a few more years, warning that even a small fee could push transactions back towards cash. His comments come after the government announced a 0.4% MDR on UPI merchant payments above Rs 2,000 from October 15, while keeping consumer payments free.
Published on: September 21, 2026
A notable achievement for Indian banks occurred as they received USD 127 billion through a dedicated deposit scheme. This influx has significantly improved the funding environment and liquidity levels. Favorable interest rates lured substantial deposits from the diaspora, ultimately fortifying banks' funding stability. This positive trend in deposits could enhance balance sheets by USD 190-220 billion, bridging any existing asset-liability gaps.
Published on: September 21, 2026
Asset-backed borrowing is gaining traction in India's credit market, particularly through gold-backed lending, which provides essential liquidity without needing to sell investments immediately. The rise of digital platforms is making these services more accessible and transparent. As borrowers seek flexible and short-term funding solutions, this trend showcases a shift in liquidity management and financial habits that cater to modern needs.
Published on: September 21, 2026
HSBC forecasts that foreign currency deposits will significantly enhance its operations in India. By securing $14.5 billion through a special RBI swap facility, the bank aims to expand lending and wealth management services. The attractive leverage option of up to nineteen times has drawn in depositors. HSBC's strategy is to deploy these funds cautiously toward corporate lending and mortgage offerings.
Published on: September 20, 2026
Banks are developing a common framework for project finance lending. This initiative aims to curb regulatory arbitrage and operational misalignment among lenders. Discussions will involve state-run and private banks to establish common parameters. Such alignment will enhance risk mitigation and avoid divergent audit observations. Final guidelines by bank boards are expected to reduce regulatory arbitrage scope.
Published on: September 20, 2026
The Institute of Chartered Accountants of India will propose Act changes soon. These changes aim to help Indian firms compete globally. The Prime Minister's Office has discussed regulatory adjustments for domestic companies. ICAI plans to revise networking and practice guidelines for broader collaboration. This initiative seeks to create larger, more capable professional entities.
Published on: September 20, 2026
Financial services secretary Sanjay Lohia has called a meeting with public sector bank, RRB and NABARD heads on Monday to ensure uninterrupted banking services during a proposed three-day strike from September 28. AIBEA is demanding a five-day banking week and has warned of an indefinite strike from October 26 if its demand remains unresolved.
Published on: September 19, 2026
Finance Ministry will meet bank executives on Monday. They will discuss continuity of banking operations during a three-day strike. The United Forum of Bank Unions called the strike for September 28. This strike will impact banking services for five days. Bank unions demand a five-day banking week and pension updates.
Published on: September 19, 2026
Bank credit growth reached a sixteen-month high, while deposits grew at a slower pace. This widened the credit-deposit gap, increasing funding pressure on banks. Finance sector lending, especially to NBFCs, drove credit expansion significantly. Public sector banks saw higher credit growth but less headroom. Deposit mobilization remains crucial for banks facing persistent competition for savings.
Published on: September 19, 2026
Published on: September 19, 2026
Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source. This service helps workers establish formal financial records for credit applications. Platforms like Zomato and Swiggy facilitate these filings for numerous partners. This shift signifies growing tax compliance within India's gig economy.
Published on: September 19, 2026
SBI Research indicates FCNR(B) deposits may yield substantial profits for banks and the RBI. The report refutes earlier estimates of significant financial losses from the scheme. Mobilized funds could support additional bank credit and generate considerable interest income. Hedging costs are considered manageable, and the RBI could see added profitability. This scheme's liquidity will support credit demand amid outflows and prudent risk management.
Published on: September 19, 2026
The government is in negotiations with payment aggregators over new UPI transaction fees, ensuring that these charges will not be imposed on consumers, as stated by officials. The finance ministry will closely monitor adherence to the new guidelines on a daily basis. Revenue generated will aid small merchants in embracing UPI, striking a balance between managing costs and fostering digital payment expansion.
Published on: September 18, 2026
In a recent statement, RBI Deputy Governor Shirish Chandra Murmu clarified that adopting a Merchant Discount Rate won't necessarily encourage more cash transactions. He highlighted the intriguing trend where digital transactions grow while cash circulation also rises, asserting that cash fulfills dual purposes as a transaction method and a valuable resource.
Published on: September 18, 2026
As new industries emerge, cash-flow-based lending is poised to play a pivotal role in their growth. With traditional collateral often absent, banks such as the State Bank of India are actively researching this funding model. To extend financing effectively, a deep comprehension of technology and anticipated revenue is crucial, as banks frequently encounter obstacles in determining revenue and cash flow for innovative projects.
Published on: September 18, 2026
Published on: September 18, 2026
Published on: September 18, 2026
Apple is set to launch Apple Pay in India next month, debuting with Axis Bank's credit card integration. Talks with prominent banks like HDFC and ICICI are underway to expand the service. This innovative payment solution enables iPhone users to effortlessly make transactions, positioning Apple within India's thriving digital payment landscape.
Published on: September 18, 2026
Gujarat floods have triggered substantial insurance claims, prompting a review of pricing. Insurers are now pushing for more disciplined pricing on large industrial risks. This reassessment follows expected flood-related claims exceeding five thousand crore rupees industry-wide. The Gujarat losses increase the case for location-based catastrophe exposure pricing. Global reinsurers' stance will largely determine the extent of this pricing correction.
Published on: September 17, 2026
Tax issues Levy of goods & services tax on MDR can be taken up by GST Council, ITC may be used by merchants.
Published on: September 17, 2026
The Reserve Bank of India cancelled five NBFC registration certificates on Thursday. Eight other NBFCs surrendered their registrations for various business reasons. Some companies ceased to be legal entities due to mergers and dissolutions. Anagram Industries and CDN Finance surrendered registrations after meeting specific criteria. These actions reflect regulatory adjustments within the financial sector.
Published on: September 17, 2026
The Finance Ministry anticipates no rise in cash transactions following the UPI MDR implementation. Only a small percentage of total UPI volume will be affected by this new charge. RuPay debit card transactions will remain free, mitigating cash transaction concerns. The ministry will monitor to prevent MDR burden transfer to consumers. This measure aims to create a sustainable digital payments ecosystem framework.
Published on: September 17, 2026
The World Bank mobilised $112 billion in private capital for developing nations last year. This significant increase reflects a strategic shift due to donor funding limitations. Private capital mobilisation now nearly matches the World Bank Group's own lending efforts. The bank employs various methods to de-risk and incentivise private investment. These efforts aim to bridge development financing gaps and foster job creation.
Published on: September 17, 2026
Securing lender approval for real estate projects significantly simplifies the home loan process. Each project is meticulously evaluated through legal and technical checks before funding is provided. This pre-approval minimizes the need for borrower verification, allowing for expedited loan processing. Bajaj Housing Finance offers a variety of pre-approved projects and swift disbursal options, ensuring buyers access considerable funds and extended repayment periods for their purchases.
Published on: September 17, 2026
Godrej Wealth plans to enter the asset management business next year. The company is filing for a mutual fund license and expects entry in a year. This new venture will complement its existing wealth management offerings. Godrej Wealth aims for Rs 3,000 crore AUM this financial year. The firm targets Rs 1 lakh crore AUM by 2031.
Published on: September 17, 2026
BharatPe supports the new UPI merchant transaction framework. The company clarified co-founder Ashneer Grover's views are his own. This new framework aims to improve digital payment economics sustainably. It will keep UPI free for consumers and protect small merchants. The changes will affect only a small percentage of person-to-merchant transactions.
Published on: September 17, 2026
Published on: September 17, 2026
Published on: September 17, 2026
India’s biggest private banks are finding it increasingly difficult to identify executives with the breadth of experience needed to lead large, complex institutions. HDFC Bank and Kotak Mahindra Bank’s CEO searches have highlighted a surprisingly narrow talent pool, as regulatory requirements, limited succession pipelines and competing financial sectors constrain potential candidates.
Published on: September 17, 2026
A 40-basis-point MDR on UPI transactions could create a large revenue pool. Issuing banks and UPI apps will receive substantial portions of this estimated revenue. Merchant-side payment apps and acquiring banks will also capture significant revenue shares. This levy aims to sustain UPI infrastructure and support its continued expansion. The charges remain well below card fees and exempt many smaller transactions.
Published on: September 16, 2026
The Reserve Bank of India has clarified definitions for financial activity and core investment companies. This clarification follows the rejection of Tata Sons' application to surrender its registration. Companies must meet specific asset and income thresholds to be regulated by the central bank. Tata Sons, an unlisted holding company, now faces enhanced regulatory scrutiny. The central bank's decision effectively pushes Tata Sons towards a mandatory public listing.
Published on: September 16, 2026
The new framework introduces a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, capped at Rs 300 on transactions of Rs 75,000 and above, while consumers will not be charged. It takes effect from October 15. GST is paid by the service provider who typically recover the amount from whoever receives service.
Published on: September 16, 2026
The Supreme Court mandated the RBI to enforce lawful vehicle repossession rules. Financial institutions cannot seize vehicles without due legal process. The court ordered a finance firm to close loan accounts and refund money. Compensation was awarded for mental agony and livelihood loss. This ruling ensures borrowers are not dispossessed of vehicles arbitrarily.
Published on: September 16, 2026
The government will levy a 0.4% fee on UPI merchant payments exceeding two thousand rupees. This new charge will take effect from October fifteenth, impacting business transactions. Everyday person-to-person payments and small transactions will remain entirely free of any charges. Government sources state this move aims to strengthen the UPI ecosystem's safety and sustainability. Opposition parties have criticized this decision.
Published on: September 16, 2026
Published on: September 16, 2026
Published on: September 16, 2026
AI-driven agentic commerce is set to revolutionize payment processes, emphasizing trust and compliance. As consumers gain enhanced autonomy, they will bear greater responsibility in this evolving landscape. In-Solutions Global highlights the importance of establishing sturdy guardrails for safety. With its strategic initiatives, the company aims to spearhead this significant change, originating from India and impacting the global market.
Published on: September 16, 2026
In an exclusive interview with The Economic Times at the Global Fintech Fest 2026, Juspay’s Ishan Sharma reflected on 12 years of solving payments at population scale, the rise of agentic commerce and why Indian fintechs must aim for developed markets.
Published on: September 16, 2026
Traders will now encourage cash payments to avoid new UPI transaction fees. A 0.4 percent charge applies to UPI transactions exceeding two thousand rupees. This new fee impacts merchants operating on already tight profit margins. Small merchants earning under one lakh rupees monthly remain exempt from this charge. The government aims to balance digital payment adoption with merchant costs.
Published on: September 16, 2026
Achieving a remarkable milestone, AU Small Finance Bank's vehicle loan portfolio exceeded Rs 50,000 crore in assets under management by August 2026. Since its inception in 1996, the bank has expanded its reach, assisting over 13.7 lakh customers nationwide. This segment not only leads AU SFB's lending activities but also represents a vital growth avenue, enhanced by the integration of cutting-edge analytics and automation.
Published on: September 16, 2026
The Reserve Bank of India supports Merchant Discount Rate on large UPI transactions. This move aims to ensure the long-term sustainability of India's digital payments ecosystem. New provisions will apply MDR to person-to-merchant transactions exceeding two thousand rupees. Person-to-person transactions and smaller merchant payments will remain free of charge.
Published on: September 15, 2026
A new merchant discount rate will fund UPI's expanding infrastructure costs. Large value person-to-merchant transactions above two thousand rupees will incur a fee. This framework shields small merchants and everyday consumer transactions from charges. The revenue distribution aims to support issuing banks and payment applications. This policy seeks to ensure UPI's long-term financial sustainability and accessibility.
Published on: September 15, 2026
AU Small Finance Bank appointed two new senior executives to its leadership team. Anil Agarwal and Amol Padhye joined the bank as part of its strategic expansion. These appointments precede the bank's planned transition into a universal bank. AU received in-principle approval from the Reserve Bank of India. The bank must complete this significant transition within eighteen months.
Published on: September 15, 2026
