Page 8 - Banking

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

MUFG lifts RBI forex inflow forecast to $87 bn as FCNR(B) flows surge

Japanese lender MUFG has raised its estimate of inflows under the RBI's concessional forex measures to $87 billion, citing robust FCNR(B) deposit mobilisation

RBI plans to introduce polymer banknotes from FY28, says Malhotra

The Reserve Bank of India has begun the tendering process for polymer substrates and aims to introduce polymer banknotes from FY28, subject to successful field trials and operational assessment.

Indian Bank aims to more than double business to ₹35 trillion by 2032

The public sector lender plans to strengthen its presence in Delhi and Mumbai while relying on MSME growth and financial inclusion to achieve its long-term business target

Explained: Why RBI wants to restart UCB licensing after a two-decade pause

After a 20-year freeze, the RBI is preparing to issue new UCB licences as reforms, stronger oversight and improving financial health reshape the cooperative banking sector

Datanomics: Public sector banks lag in RBI penalty count, but lead in cost

RBI data shows a sharp divide among the categories of lenders in terms of penalties imposed

MDR on UPI may open Rs 5,000-10,000 crore revenue pool by FY28

Amendment to PSS Act is the first of several steps; rate, threshold and revenue-sharing formula still undecided

CD issuances plunge in July as mobilisation of FCNR(B) deposits spikes

Banks sharply cut certificate of deposit issuances in July as strong FCNR(B) inflows under the RBI's swap scheme eased liquidity pressures and lowered funding costs

Private banks step up FCNR (B) mobilisation with higher deposit rates

HDFC Bank and ICICI Bank have raised FCNR(B) deposit rates as lenders compete for foreign currency inflows ahead of the RBI's September-end swap window deadline

RBI appoints Monisha Chakraborty as executive director from August 3

Former chief general manager-in-charge of the Department of Supervision will oversee the Foreign Exchange Department and Financial Markets Regulation Department

HDFC Bank raises 3-5 year FCNR(B) dollar deposit rate by 25 bps to 6.25%

The private sector lender raised its dollar deposit rate by 25 basis points as banks compete for non-resident funds before the RBI's concessional swap window closes

UP gains credit-active consumer share as Maharashtra, Tamil Nadu decline

TransUnion Cibil data shows Uttar Pradesh posted the sharpest rise in credit-active consumer share between March 2017 and March 2026, while Maharashtra and Tamil Nadu lost ground

BCRC seeks dedicated equity fund and wider access to RBI support schemes

The self-regulatory body for business correspondents has sought a dedicated equity fund, access to financial inclusion support and a pricing review to strengthen last-mile banking

Bank holidays in August 2026: Banks to stay closed for 14 days; check list

Bank branches will mark many holidays throughout Aug 2026. Independence Day on Aug 15 will cause nationwide bank shutdowns. Several state-specific festivals depend upon regional