Harsh Kumar

Finance Ministry asks three RRBs to give IPO blueprint by March-end

The DFS on Tuesday convened a meeting to review the IPO plans of three regional rural banks-Haryana Gramin Bank, Kerala Gramin Bank and Tamil Nadu Grama Bank

ACC approves appointment of Ravi Ranjan as MD of State Bank of India

The SBI board is headed by a chairman, assisted by four managing directors. The Appointments Committee of the Cabinet is headed by Prime Minister Narendra Modi

Six private sector candidates apply for Canara Bank MD & CEO role

On October 9, the government opened up one MD position in State Bank of India (SBI) and other PSBs for private sector bankers

Insurance Amendment Bill to ensure accessibility, affordability for all: FM

Nirmala Sitharaman further noted that India needs further capital infusion into the insurance sector

Exit regulation amendments: PFRDA allows loans against pension savings

Partial withdrawal norms for NPS accounts rationalised; annuity mandate at retirement relaxed for smaller balances

Draft Insurance Amendment Bill: Stricter safeguards on cards for life funds

The Bill also places a cap on payments made from the surplus towards debentures. Payments, including interest, cannot exceed 50 per cent of the disclosed surplus

NARCL recovery tally rises to ₹4,192 crore as resolution gains pace

Government-backed bad bank sees sharp rise in resolution pace, acquires Rs 1.62 trillion in stressed debt

Cabinet approves 100% FDI in insurance; Bill likely in Parliament on Monday

The source further said that this is likely to be tabled on Monday in the ongoing winter session of Parliament, which is slated to conclude on December 19

DFS tightens grievance redressal oversight; banks, insurers face rankings

In a key reform introduced in June 2025, DFS began ranking public sector banks, private sector banks and public sector insurers on the basis of the quality and timeliness of grievance disposal

SBI raises data centre exposure target to Rs 4,000 crore for FY26

SBI plans to lift data centre exposure to Rs 4,000 crore by March 2026 from Rs 2,800 crore in October 2025, while setting up specialist teams and reviewing margins amid NIM contraction

We aim to double loan book to ₹16K crore by FY29: Sarvjit Singh Samra

Samra says the lender has seen no major impact from US tariffs, even as MSME, housing and agri portfolios remain strong and branch expansion gathers pace

IIBX eyes over $12 bn forex flow in FY26 from gold and silver contracts

India International Bullion Exchange eyes sharp growth in gold and silver contracts, boosting foreign exchange inflows through GIFT City

Bank unions protest Nirmala Sitharaman's privatisation 'endorsement'

The forum cited the collapses of YES Bank, Global Trust Bank, and Lakshmi Vilas Bank as examples of governance lapses in private banks

FATF hails India's asset recovery model, cites ED as global benchmark

FATF highlights India's Enforcement Directorate for its effective coordination, citing ED's cases as examples of global best practice in tracing and seizing illicit assets

Govt urges banks to deepen presence in IIBX, expand GIFT City operations

The senior government official further noted that the intent is to strengthen the ecosystem around IIBX and ensure that banks play a larger role in facilitating bullion trade and related financial flo

ED raids Mumbai sites linked to Varanium Cloud IPO fraud worth Rs 40 crore

The Enforcement Directorate raided multiple Mumbai locations linked to Varanium Cloud and its promoter Harshavardhan Sabale in a ₹40-crore money laundering case tied to its 2022 IPO.

Public sector banks take up tech upgrade to streamline operations

Banks complete data migration for branches and ATMs; new tech to enhance mapping, oversight and financial inclusion efforts

FM Sitharaman starts Bhutan tour to strengthen bilateral economic ties

According to a press statement, the visit, scheduled from October 30 to November 2, 2025, underscores India's enduring partnership with Bhutan, built on mutual trust, respect, and shared goals

PNB Housing Finance to announce new MD & CEO soon, growth stays steady

Even as PNB Housing Finance readies to appoint a new MD & CEO, the lender reports steady growth in Q2 FY26 with improving asset quality and rising disbursements

FinMin calls meet to spur gold and silver transactions through IIBX

The officials also noted that the upcoming meeting will take stock of the progress made since the last review held on August 6, 2025