Banking News

Liquidity surplus fell to Rs 23,881 crore from Rs 1.5 trillion a day earlier as advance tax payments drained funds from the banking system

Markets regulator Sebi on Thursday extended the timelines for merchant bankers to comply with certain provisions related to separate business units (SBUs), net worth and liquid net worth requirements, citing operational challenges faced by the industry. Under the revised timelines, merchant bankers will now have until December 31 to transfer activities to separate business units in accordance with Sebi (Merchant Bankers) Regulations. Earlier, the deadline was July 3, according to a circular issued by the markets regulator. Further, the Phase I compliance deadline for enhanced net worth requirements has been extended to March 31, 2027, from January 2, 2027. The Phase II deadline has been shifted to March 31, 2028, from January 2, 2028. Similarly, compliance timelines for Phase I and Phase II liquid net worth requirements have been extended to March 31, 2027, and March 31, 2028, respectively. The deadline for merchant bankers to intimate Sebi regarding their categorisation as Categor

Rising wage and logistics costs are exposing long-standing stress points in India's ATM ecosystem, prompting calls for a rethink of interchange fees

The comments come as SBI sharpens its 'Digital First, Customer First' strategy, with continued investments planned in technology, data analytics, AI, cybersecurity, and digital infrastructure

Union Bank of India on Tuesday approved raising of up to Rs 8,000 crore, which would include the issuance of equities worth Rs 3,000 crore. In a BSE filing, Union Bank said the board has approved raising of debt capital through Basel III-compliant additional Tier 1 bonds and/or Tier 2 not exceeding Rs 5,000 crore. Besides, the board has approved raising Rs 3,000 crore equity capital in tranches within the overall limit of Rs 8,000 crore, through Public Issue (i.e. Further Public Offer) and/or rights issue and/or private placements, including Qualified Institutions Placements and/or Preferential Allotment. "The board of directors, in its meeting held on May 26, 2026, considered and approved the plan of the bank to raise capital by an amount not exceeding Rs 8,000 crore," the filing said. Shares of Union Bank of India were trading at Rs 167.25, down 1.01 per cent over the previous close on BSE.

AI adoption is widespread in BFSI firms to improve efficiency, but most companies lack mechanisms to track its revenue impact, limiting its role in driving measurable business outcomes

India will mark Mahavir Jayanti tomorrow, Mar 31. On this day, schools, banks and government offices will remain across several states. It is a gazetted public holiday

The deal will add nearly 8,000 units and new private sector banking ties, strengthening CMS Info Systems' managed services portfolio and advancing its ATM solutions consolidation strategy

Banking operations across India will be impacted this week as branches will remain closed on four days between March 26 and March 29, 2026. As per the holiday calendar issued by the RBI

RBI's draft norms on misselling aim to strengthen customer protection, but raise concerns over regulatory overreach and impact on banking sales models

A day after HDFC Bank Chairman Atanu Chakraborty resigned on ethical concerns, a top Finance Ministry official on Thursday said the bank is a "strong institution with strong fundamentals". Financial Services Secretary M Nagaraju said the Reserve Bank of India (RBI) has already issued a statement in this regard. "HDFC Bank is a strong institution with strong fundamentals," he told reporters. The remarks come after the sudden exit of Chakraborty as chairman of HDFC Bank -- the country's second-biggest lender -- effective March 18, 2026, citing ethical concerns. This is the first time that a part-time chairman of HDFC Bank has left mid-way, raising concerns over its functioning. Earlier in the day, the Reserve Bank said there were no material concerns on record as regards the bank's conduct or governance. "HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, a professionally run board and a competent management team. Based on our periodical assessment, t

Profitability in the banking sector is expected to remain healthy, supported by stronger core earnings

About 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, are not subject to any penal charges for non-maintenance of minimum balance, Finance Minister Nirmala Sitharaman said on Monday. In a written reply to a question in the Lok Sabha, she said banks offer zero-balance savings accounts facility in Basic Savings Bank Deposit Accounts (BSBDAs), including the accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), to ensure universal access to banking facilities, particularly for unbanked, vulnerable and small depositors, and to promote financial inclusion. These accounts do not require maintenance of any minimum balance, and the account holders are provided basic banking services such as deposits, withdrawals and ATM access free of charge, without levy of any penal charges. "Approximately 72 crore BSBDAs, including PMJDY accounts, are not subject to any penal charges for non-maintenance of minimum balance," Sitharaman said.

The draft circular makes changes in the coordination structure, with subcommittees for inclusion and literacy; agriculture; micro, small, and medium enterprises (MSMEs); and payment systems

Confused about Holi 2026 bank holidays? Check where banks are shut on March 3 and March 4 across India

Move follows NFIS 2025-30 observations and RBI survey findings flagging inadequate and delayed remuneration as key reasons for inactivity among Business Correspondents

The meeting will be attended by senior officials from the Finance Industry Development Council, Sa-Dhan and Microfinance Industry Network

Banks are likely to invest around Rs 7 trillion in G-secs in FY27 as deposit growth strengthens and SLR requirements rise, with RBI expected to use OMOs to manage liquidity, analysts said

From April 21, banks shift to risk-based deposit insurance premiums, with better-rated lenders paying less and a likely hike in the ₹5 lakh insurance cap

Non-bank lender UGRO Capital's borrowing costs are higher than peers by 1.25 per cent, and the company will focus on reducing them in FY27, a top official has said. "Our focus is now to reduce our cost of borrowing. Our cost of borrowing is at least 1.25 per cent higher than that of our peers. So, the focus is to reduce that because if we don't reduce that, both the end customer, we cannot service well," the founder and managing director of small-business-focused lender, Sachindra Nath, told PTI. The company, which has grown its assets under management from around Rs 3,000 crore in 2020 to nearly Rs 15,000 crore in 2025, said the sharp expansion in recent years had necessitated higher liability mobilisation, impacting borrowing costs. "With the base now becoming large and growth expected to moderate, the demand for liabilities will also reduce. This will give us the flexibility to negotiate better rates," he said. He indicated that while its liability mix will broadly remain ...