Page 20 - Finance News
Bank customers can opt for up to four nominees in their accounts from Nov 1
The key provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025, a finance ministry statement said on Thursday
 "Bank customers can opt for up to four nominees in their accounts from Nov 1")
SFBs boost secured lending as they move towards universal bank status
AU, Ujjivan, and Jana Small Finance Banks increase share of secured assets in line with RBI's diversification guidelines for voluntary conversion to universal banks
 "SFBs boost secured lending as they move towards universal bank status")
UCO Bank to add another 150 branches by March to expand business
Currently, the Kolkata-based lender has 3,322 branches across the country and with the addition of 150 branches, the network would rise to 3,472 by the end of the current financial year
 "UCO Bank to add another 150 branches by March to expand business")
Provisions of SC/ST Act can't be used to curtail bank's mortgage rights: HC
According to the petition before the court, a credit facility of Rs 16.69 crore was sanctioned by Axis Bank to Sundev Appliances Ltd, secured by a mortgaged property in Maharashtra's Vasai, in 2013
 "Provisions of SC/ST Act can't be used to curtail bank's mortgage rights: HC")
Large pvt banks see green shoots, expect credit demand revival in H2FY26
Attribute this to fiscal, monetary measures
 "Large pvt banks see green shoots, expect credit demand revival in H2FY26")
RBI's proposal on ECB likely to give realty sector a funding boost
Proposal allows External Commercial Borrowings for real-estate activities where FDI is permitted
 "RBI's proposal on ECB likely to give realty sector a funding boost")
Travel, education drag outward remittances under RBI's LRS in August
India's outward remittances fell 17.7% YoY to $2.6 bn in August 2025, led by lower travel and overseas education spending amid tightening US visa norms
 "Travel, education drag outward remittances under RBI's LRS in August")
Extending deadline not enough, MCA portal needs fixing, say experts
Despite the MCA extending its filing deadline to December 31, professionals say persistent glitches on the new version 3 portal continue to stall compliance work
 "Extending deadline not enough, MCA portal needs fixing, say experts")
Lenders tap alternative data as next frontier in credit fraud fight
Fintechs, credit platforms analyse digital footprint, metadata, behaviour to detect fraud and underwrite new-to-credit users
 "Lenders tap alternative data as next frontier in credit fraud fight")
26% of Jan Dhan accounts with PSBs inactive as usage slows under PMJDY
As of September 2025, 142.8 million Jan Dhan accounts in public sector banks are inactive; officials say RuPay card issuance gap also persists at 31 per cent
 "26% of Jan Dhan accounts with PSBs inactive as usage slows under PMJDY")
Commercial banks may not need RBI approval for floating subsidiaries
Regulator to emphasise on non-duplication of businesses
Indian govt pushes to expand rupee settlement with key trade partners
Initial steps include establishing direct rupee rates that don't rely on a third currency, such as the US dollar, for cross-reference, said the person familiar with the central bank's thinking
 "Indian govt pushes to expand rupee settlement with key trade partners")
Festive rush propels Skye Air to target 300k drone shipments this October
Drone startup Skye Air expects record festive volumes, partners with Blue Dart, DTDC, Shiprocket, and Ecom Express; plans city-wise expansion to Bengaluru and beyond in 2025
 "Festive rush propels Skye Air to target 300k drone shipments this October")
Foreign investors to invest ₹50k cr in finance, banking sectors: Goyal
Even in turbulent times, Foreign Direct Investment (FDI) continues to flow robustly, the minister said
 "Foreign investors to invest ₹50k cr in finance, banking sectors: Goyal")
PNB expects $1 billion hit in transition to new credit rules, says CEO
The country's third-largest state-owned lender by market capitalisation is one of the first to disclose an estimate on the likely effect of the rules
 "PNB expects $1 billion hit in transition to new credit rules, says CEO")
Banking pads up to cover a new ground with risk-based deposit insurance
Shifting to a system of risk-based deposit insurance may over time force banks to become even more prudent and mindful of their finances
 "Banking pads up to cover a new ground with risk-based deposit insurance")
Govt extends deadline for filing GSTR-3B return by 5 days till Oct 25
The Central Board of Indirect Taxes and Customs (CBIC), in a notification, said the GSTR-3B filers for September and the July-September quarter can pay taxes by October 25
 "Govt extends deadline for filing GSTR-3B return by 5 days till Oct 25")
Emirates NBD to invest $3 bn in RBL Bank for up to 60% controlling stake
The proposed investment will be made through a preferential issue and is subject to regulatory approvals and customary closing conditions
 "Emirates NBD to invest $3 bn in RBL Bank for up to 60% controlling stake")
Listing of PSU financial subsidiaries to unlock value: DFS Secretary
M Nagaraju says listing subsidiaries of state-owned financial entities will unlock value, strengthen corporate governance, and enhance market oversight
 "Listing of PSU financial subsidiaries to unlock value: DFS Secretary")
Corporate fundraising through bonds totals Rs 5.47 trillion in H1FY26
Indian firms raised Rs 5.47 trillion through bonds in H1FY26 as lower yields drove strong Q1 activity; experts expect a rebound in the second half as banks re-enter the market
 "Corporate fundraising through bonds totals Rs 5.47 trillion in H1FY26")