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 […]
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 […]