FM asks PSBs to target youth with simple, personalised 24×7 banking service
The minister said banks could offer free online learning content in collaboration with reputed educational platforms and institutions, using learning and skill development as an avenue to engage youth and bring them into the formal banking fold. She suggested that banks should complement their propositions with lifestyle-linked benefits, including coupons/vouchers for fitness centres, yoga centres […]
RBI’s August 31 deadline nears: Private banks step up FCNR(B) push
Other mid-sized private banks may follow suit and revise their FCNR (B) rates to mobilise as much as possible before the window closes. HDFC Bank, the country’s largest private sector lender, and ICICI Bank, the second-largest, continue to offer 6.25 per cent on these deposits. State Bank of India (SBI) offers 6 per cent on […]
RBI’s swap window: Indian lenders’ bond rush nets over $3 bn in 10 days
Indian banks are rapidly raising funds from international markets through US dollar-denominated bonds, with over $10 billion expected to be raised so far—a record high. Along with major lenders, first-time issuers such as Kotak Mahindra Bank and IDFC First Bank have also entered the overseas bond market to benefit from the RBI’s concessional swap facility, […]
HDFC Bank taps dollar bond market again, eyes $1 bn overseas debt raise
Last week, the Reserve Bank of India (RBI) decided to close its discounted dollar-rupee swap facility for banks ahead of schedule. The scheme, introduced in June to help banks hedge non-resident deposits at a lower cost, is expected to bring nearly $80 billion in foreign currency inflows, according to RBI Governor Sanjay Malhotra. Taking advantage […]
India sees sharp expansion in retail, MSME credit access since 2021
Over the last five years, India has witnessed a significant increase in access to formal credit, with strong growth in both the retail and MSME sectors. In the retail segment, the number of people with a credit bureau record increased from 45.5 crore in 2021 to 78.9 crore in 2026, while active borrowers grew from […]
Banks seek more from ATMs as non-cash services remain largely unused
The staid automated teller machine (ATM) can be used for nearly ten different kind of transactions, yet the bulk of its usage is for cash withdrawal and deposits. The ATM may have become a part of urban, semi-urban, and even some rural landscapes, but its utilisation is far below what it can do, ultimately […]
RBI slaps penalty on IndusInd Bank, three NBFCs for regulatory lapses
RBI Imposes Penalties on Three NBFCs for Regulatory Violations The Reserve Bank of India (RBI) has imposed penalties on Fusion Finance, Northern Arc Capital, and Muthoot MCred for violating various regulatory norms. Fusion Finance was fined ₹2.7 lakh for failing to conduct mandatory six-monthly reviews of customer risk categorisation as required under RBI’s KYC guidelines. […]
At 15.4%, bank deposit growth highest since December 2016: RBI data
India’s banking sector witnessed strong growth in both deposits and lending, supported by the RBI’s special FCNR(B) swap facility. Banks mobilised $36.7 billion in FCNR(B) deposits by July 31, taking advantage of the RBI scheme that covers the full hedging cost for eligible foreign currency deposits with a 3–5 year maturity. In FY27 so far, […]
SBI used AI to underwrite nearly ₹1 trillion MSME loans in FY26
State Bank of India (SBI) used Artificial Intelligence (AI) to sanction nearly ₹1 lakh crore in loans to MSMEs during FY26, according to SBI Managing Director Rama Mohan Rao Amara. AI helped SBI process and underwrite loans more efficiently. The bank offered loans of up to ₹5 crore to both new and existing customers. By […]
SBI’s dollar debt sale prompts Bank of Baroda to test waters
Indian Banks Increase Dollar Borrowing as Overseas Funding Becomes Cheaper Indian banks are increasingly raising funds through US dollar bonds after the RBI introduced a swap facility in June that reduced the cost of overseas borrowing. State Bank of India (SBI) raised $500 million through a 5-year dollar bond at a 5.25% annual coupon. The […]