ICICI Bank joins Indian banks chasing dollar loans as demand swells
ICICI Bank has launched an offshore syndicated loan worth around $1.45 billion, joining other Indian banks that are raising funds from international markets. The move helps banks benefit from an RBI facility that reduces hedging costs. Initially, ICICI Bank signed a $1 billion loan with Bank of America. Later, it invited other global lenders such […]
Tax liability of ITR-7 filers triples in 5 years to Rs 1,043 crore
In a significant financial shift, the tax burden for ITR-7 filers has climbed to Rs 1,043 crore in the Assessment Year 2025-26, a figure that is about threefold compared to five years back. This information, shared with Parliament by the Minister of State for Finance, highlights the growing obligations faced by trusts, political organizations, and […]
AI can transform banking, but data, privacy, governance remain key challenges
Top bank CEOs discussed AI’s beneficial use in banking operations. They highlighted generative and agentic AI for customer service and internal improvements. Data quality and governance frameworks are critical challenges for effective AI deployment. Banks must invest in employee reskilling and maintain human oversight of AI systems. AI promises improved customer experience and faster technology […]
Not much concerned on proposed NBFC norms, revolving credit exposure below 5%: Tata Capital CEO
Tata Capital’s revolving credit exposure remains below five percent of its total lending. The company will submit its feedback to the Reserve Bank of India on proposed new regulations. These draft norms suggest non-banking finance companies should not offer revolving credit products. Tata Capital’s managing director stated the current exposure is not a significant percentage. […]
PSBs target nearly $30 billion under RBI’s concessional forex swap window
India’s state-owned banks are targeting mobilisation of nearly $30 billion through FCNR(B) deposits, overseas foreign currency borrowings (OFCBs), and external commercial borrowing (ECB) under the Reserve Bank of India’s (RBI’s) concessional swap window, data compiled by Business Standard based on these banks’ post-earnings commentary showed. Data shared by the government in Parliament showed that net […]
El Niño, below-normal rainfall could hit NBFCs’ rural loan books
A below-normal monsoon and the risk of El Niño affecting rural cash flows could emerge as key risks for non-banking financial companies (NBFCs) such as Mahindra & Mahindra Financial Services (Mahindra Finance), Shriram Finance, HDB Financial Services and others, prompting lenders to step up portfolio monitoring and underwriting in vulnerable segments. The India Meteorological Department […]
AI’s next banking frontier is rural India, small businesses
“India has set itself the ambition of becoming a developed economy by 2047. To support that ambition, the next wave of AI in banking must take us deeper into the economy — to rural India, small businesses and customers whose financial histories may not fit conventional [credit] models,” he said. “AI can support better farm-level […]
Brics exploring ways to cut costs, speed up cross-border payments
Speaking at the Ficci-IBA Annual Banking Conference (FIBAC), Malhotra said Brics had a task force on payments and that cross-border payments were an area of interest for all member countries. “Cross-border payments is an area of interest for all of us, including the Brics, because we do feel that there is a lot of scope […]
Trusted, trained and sometimes a threat: The risk within India’s banks
The fraudster doesn’t wear a mask or hack in from outside. The fraudster has the key to enter the system (the login password), a designation, and years of institutional trust. The core banking solution (CBS) has digitised every branch. It has also handed the insider an invisible weapon to attack – to debit accounts, backdate […]
Lending a hand for easier, faster credit to MSMEs with receivables finance
Recent policy measures are reshaping the approach to credit extended to micro, small and medium enterprises (MSMEs). Instead of just focusing on the credit gap, delayed payments, or payment disputes, the government is building a framework that enables businesses to access liquidity against receivables. The MSME Development (Amendment) Bill and measures for the Trade Receivables […]