Page 2 - Banking

Paramotor Digital partners with NSDL Payments Bank to issue prepaid cards

The partnership will support Paramotor's consumer spend management, digital gifting and rewards and loyalty platforms, including SpendPro, Yayyy.shop and RewardOn

Govt to soon constitute panel on 'Banking for Viksit Bharat': Sitharaman

In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth

At 15.4%, bank deposit growth highest since December 2016: RBI data

The current account deficit widened to $6.2 billion in June from a $1.2 billion surplus in June 2025, as the merchandise trade deficit increased to $30.2 billion from $19.2 billion

RBI slaps penalty on IndusInd Bank, three NBFCs for regulatory lapses

The RBI imposed a Rs 59.20 lakh penalty on IndusInd Bank and also penalised Fusion Finance, Northern Arc Capital and Muthoot MCred for regulatory lapses

Banks seek more from ATMs as non-cash services remain largely unused

ATMs offer fund transfers, bill payments and several other services beyond cash, but low awareness and the rise of mobile banking have left much of this capacity underused

India sees sharp expansion in retail, MSME credit access since 2021

Retail bureau coverage rose 1.7 times to 78.9 crore borrowers by 2026, while active MSME borrowers more than doubled to 1.9 crore over the five-year period

ICICI Bank joins Indian banks chasing dollar loans as demand swells

The nation's second-largest private lender first signed a loan agreement with Bank of America Corp. for about $1 billion

SBI's dollar debt sale prompts Bank of Baroda to test waters: Bankers

The bank ​has offered a spread of 120 basis points above US Treasury for ​the three-year option and 130 bps on the five-year sale, the bankers added

SBI used AI to underwrite nearly ₹1 trillion MSME loans in FY26: Amara

The lender uses GST, account, bureau and other data in its AI-backed underwriting engine, while deploying the technology in fraud detection, customer care and cheque processing

Central Bank of India mobilises $250 million under FCNR (B) window: CEO

Central Bank of India has surpassed the $100 million target set for July, garnering $250 million

SBI uses AI to underwrite nearly ₹1 trillion in MSME loans in FY26

SBI is also using AI-based early warning signals to identify vulnerable exposures before delinquencies emerge, by analysing sector-specific, market and other publicly available information

AI's next banking frontier is rural India, small businesses: SBI Chairman

C S Setty said banks must take AI beyond retail applications to improve credit access, risk assessment and productivity while strengthening cybersecurity and governance

El Niño, below-normal rainfall could hit NBFCs' rural loan books

A weak monsoon and El Nino could hurt rural incomes and repayments, prompting major NBFCs to tighten portfolio monitoring and underwriting in vulnerable segments

PSBs target nearly $30 billion under RBI's concessional forex swap window

State-owned banks are targeting nearly $30 billion through foreign currency deposits and borrowings under the RBI's concessional swap window as inflows remain robust

Deterrence beyond a slap on the wrist: Reimagining financial penalties

Fines on Indian financial institutions are a pittance. The enforcement regime must be reimagined, reports Raghu Mohan

PNB to roll out wealth management services to boost non-interest income

The public sector lender is now planning to deploy another 1,300 CRMs and by end of this month

RBI has proactively helped UCBs, cooperatives should rethink approach: Shah

Shah said a lot of aspects have been resolved with the help of the RBI, and also welcomed the raising of limits on gold loans and permitting one-time settlements for UCBs

Private sector drives ₹26.75 trillion investment proposals in FY27

Domestic private companies accounted for 86 per cent of investment announcements between April 1 and August 5, while ITES led with Rs 14.98 trillion in proposed capex

Datanomics: Only 4% of UPI transactions to merchants may draw fee

Only about 4% of UPI merchant transactions may attract an MDR under the proposed law, while all person-to-person UPI payments will remain free

Insurance sector poised for growth, but profitability concerns persist: S&P

S&P Global Ratings says reforms and low insurance penetration support long-term growth, but underwriting pressures and weak profitability remain key risks for insurers