Page 10 - Banking

Govt holds firm on UPI MDR as Opposition mounts pressure for rollback

Finance Ministry rejects claims of US pressure behind UPI MDR, as Opposition parties and trader groups demand reconsideration of the new merchant fee

Apps oppose platform fee ban on UPI bill payments under new MDR norms

UPI apps say their Rs 1 share from a Rs 5 MDR on larger bill payments will not cover Bharat Bill Payment System commissions, while smaller transactions earn nothing at all

Have a pipeline of ₹4 trillion in sanctioned loans, says Nabfid MD

NaBFID targets a Rs 5 trillion loan book by 2029-30, backed by a Rs 4 trillion sanctioned pipeline and rising private infrastructure investment

PIL in SC challenges 0.4% MDR on UPI transactions above ₹2,000 in India

Petitioner questions the amended payment law, lack of gazette publication and differing treatment of UPI and RuPay debit-card transactions under the new framework

India's Brics payment pitch falls short of leaders' declaration

BRICS leaders stopped short of endorsing concrete steps on payment-system interoperability and local-currency trade, leaving India's long-running push without a firm action plan

Race for HDFC Bank MD & CEO likely between insider and outsider

Order of preference in which two names are submitted to RBI is critical

Indian Bank plans entry into life insurance, soon to seek board nod: MD

Indian Bank is already present in the general insurance space with a 28.52 per cent stake in Universal Sompo General Insurance Company

IBBI wants debt resolution professionals to guard against IBC abuse

IBBI directs Insolvency Professionals to conduct due diligence and report misuse of the IBC framework following a disciplinary crackdown on non-compliant administrators

RBI bites the durable liquidity bullet with ₹1 trillion bond sales

10-year bond yield hits 7% after three months

Bank strike disrupts PSB operations across states, digital services normal

Branch-level operations at public sector banks were hit across several states, affecting cash transactions and cheque clearances, while digital banking services remained available

Fintech rules must match risks, not make firms resemble banks: RBI's Murmu

RBI Deputy Governor Shirish Chandra Murmu says regulation should address risks appropriately while allowing responsible innovation and experimentation to scale

Bankers' Books Evidence Act 2026 to come into force from October 1

Bankers' Books Evidence Act, 2026, is aimed at providing a modern framework for the use of banking records as evidence in line with contemporary banking practices.

Bank strike today: Are banks closed, and when will they open? Check details

Bank branches may face disruption as UFBU's nationwide strike coincides with the second Saturday and Sunday holidays, with some states also observing Ganesh Chaturthi holidays on September 14 and 15

New-age industries fuel corporate capex cycle: SBI MD Ashwini Kumar Tewari

India has proposed to relax conditions on a tax holiday for Indian data center services, further advancing the country's strategy to make itself an attractive location

HDFC Bank says Bahrain court rejects all seven Credit Suisse AT1 claims

Bahrain High Civil Court rejected two investor cases on September 9 after five similar matters were dismissed in July and August, according to HDFC Bank

Datanomics: NBFC asset quality improves but trails banks' performance

RBI asks NBFCs to focus on asset quality as agriculture and commercial real estate show higher stress

PNB to enter wealth management services, beef up credit card portfolio

The state-run lender plans to launch wealth management services in early 2027 and is adding 50,000-60,000 credit cards every month as it seeks new growth avenues

UIDAI launches Aadhaar face authentication software for banks, fintechs

UIDAI has launched a new Aadhaar Face Authentication SDK and sandbox, enabling banks, fintechs, insurers and other entities to integrate secure face authentication directly into their mobile apps

Axis Bank's AI push signals slower hiring ahead as it scales up business

The lender opened about 400 branches in FY26 even as its net headcount fell 3%, with CEO Amitabh Chaudhry expecting technology investments to support further growth without similar staff expansion

Bank of Baroda raises $8 billion via FCNR (B), exceeds initial target

The state-run lender mobilised $8 billion through the RBI's concessional swap window, exceeding its initial target of $4-5 billion, amid strong demand for FCNR(B) deposits