Page 3 - Harsh Kumar

Banks may soon sponsor pension funds as PFRDA approves major NPS reforms

The proposed framework seeks to remove regulatory constraints that had so far limited banks' participation in pension fund management

Finance ministry notifies rules to enable 100% FDI in insurance sector

Revised rules remove the requirement for majority Indian directors in insurers with foreign investment, but mandate that one of the top leadership roles be held by an Indian resident

DFS pushes digitisation, reforms to speed up recoveries through DRTs

The DFS is pushing mandatory e-filing, virtual hearings and legal reforms to improve disposal rates and speed up recoveries through debt recovery tribunals

Housing top reason for partial withdrawals under NPS in FY25: PFRDA

Housing-related needs accounted for the highest number of partial withdrawal requests under the National Pension System in FY25, with Rs 1,327.91 crore withdrawn, PFRDA data show

Govt plans to amend SARFAESI Act to include special situation funds

Centre is considering amending SARFAESI to include special situation funds as financial institutions and to require borrowers to file representations within 30 days of a demand notice, sources said

FinMin colloquium to brainstorm ways to check rising debt recovery cases

DFS will meet DRT and DRAT heads and senior bank executives on December 30 to discuss measures to speed up recoveries as pending cases rose to 0.137 million by September 2025, officials said

PNB reports over ₹2,400 cr loan fraud linked to Srei ex-promoters

State-owned lender said it reported fraud of over Rs 2,000 crore linked to erstwhile promoters of SREI entities and has made provisions for the entire outstanding amount

CSR spending of 183 CPSEs surged 31% to record ₹6,437 crore in FY25

CSR spending by 183 CPSEs rose to a record Rs 6,437 crore in FY25 even as their net profit fell 9.6 per cent, with most outlay going to health, sanitation and poverty alleviation

Public-sector banks okay ₹28k cr in MSME loans via new digital model

The overall rejection rate across banks stood at about 20 per cent, with variation across institutions depending on credit profiles and digital data availability

India offers higher FDI, easier bank branch norms under New Zealand FTA

Under the India-New Zealand FTA's Financial Services Annex, India has offered higher FDI limits in banking and insurance and a simpler licensing regime for foreign bank branches

MSME body pitches unified regulator; seeks banking oversight shift

According to Fisme, the Indian banking system operates under conditions of monopolistic competition, with high switching costs giving banks significant market power over borrowers, particularly MSMEs

'Shriram Finance's lending rate may reduce by up to 100 bps in 18 months'

Shriram Finance Vice-Chairman Umesh Revankar said regulatory approvals are expected by the end of the current financial year

MUFG Bank not keen on raising Shriram Finance stake beyond proposed 20%

MUFG Bank said it will not raise its stake above the proposed 20 per cent in Shriram Finance and has no plans to invest in other Shriram Group entities, even as SFL approved a $4.4 billion deal

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