Banking News

CCEA clears largest financial sector FDI: Fairfax to take reins at IDBI

Toronto-based firm to acquire 60.72% for ₹52,878 cr, trim stake to 26% over 15 years

IDBI Bank acquisition puts Fairfax's CSB Bank stake at a crossroads

Fairfax Financial Holdings Ltd., led by Canadian billionaire Prem Watsa, is set to acquire nearly 61 per cent stake in IDBI Bank for $5.6 billion, marking the largest foreign investment in banks

Canara Bank Q2 profit rises 8.4%, treasury income drop weighs on growth

Canara Bank's Q2 net profit rose to Rs 5,175 crore as net interest income grew 20.4 per cent and provisions fell, while treasury income declined 68.5 per cent year-on-year.

RBL Bank Q2FY27 results: Net profit rises 2.7-fold to ₹482 crore

Net interest income rose 37% year-on-year to Rs 2,131 crore, while advances grew 42% to Rs 1.42 trillion; asset quality improved despite higher provisions and slippages

Banks set for healthy Q2 profit growth as FCNR(B) inflows weigh on margins

Bloomberg consensus estimates project banks' Q2FY27 net profit at ₹1 trillion, up 19.6 per cent year-on-year, while large FCNR(B) deposit inflows are expected to weigh on margins.

HDFC Bank's Anup Bagchi set to become India's highest-paid bank CEO

HDFC Bank proposes ₹35.9 crore in annual compensation for incoming MD & CEO Anup Bagchi, including ₹26.92 crore in variable pay, besides a ₹7.35 crore joining bonus

Gandhi Jayanti 2026: Are banks open on October 2? Check holiday status

Bank branches will remain shut on Friday for Gandhi Jayanti, while digital banking services and ATMs will continue to operate across the country

All Saturdays bank holidays? PIB flags fake Gazette notification online

The viral document, dated September 30, claims the Finance Ministry declared every Saturday a public holiday for public sector banks. PIB says no such notification was issued

Bank holidays in October 2026: Check state-wise RBI holiday list of 11 days

Banks in India will be closed for many days in Oct 2026, including national and regional holidays. The RBI's holiday calendar marks numerous non-working days affecting banks state-wise

Sebi plans review of merchant banking rules, IPO cost structure soon

Markets regulator will also review ICDR norms, including price bands and advertising requirements, as it seeks to simplify processes and lower public issue costs

RBI governance reset puts spotlight on bank chairs, independent directors

Starting October 1, 2026, onboarding of independent directors, their accountability and remuneration may need a relook as RBI seeks more focused board engagement on strategy, risk and governance

India housing prices rise 3.6% in Q1FY27, match year-ago pace

RBI's Housing Price Index rose 3.6 per cent in Q1FY27, with Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram recording the strongest gains

RBI sells ₹50000 cr govt securities in OMO to drain surplus liquidity

India's central bank sold ₹50000 crore ($5.2 billion) of bonds under its open market operations program as it stepped up efforts to drain surplus cash from the banking system

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

Bankers' Books Evidence Act, 2026 which got assent of the President of India last month, and is aimed at providing a modern framework for the use of banking records as evidence in line with contemporary banking practices, will come into force from October 1. The notification dated September 10 appoints October 1, 2026 as the date on which provisions of the Act will come into force, the finance ministry said in a statement on Friday. The Act adopts a technology-neutral approach by recognising banking records maintained in physical, electronic, digital, virtual, cloud-based and other contemporary forms, it said. It also provides for simplified and standardised certification of banking records, including through manual, digital or electronic signatures. Greater clarity has also been provided on the summoning of bank officials where the bank is not a party to the proceedings, with a "special cause" to be recorded in writing by the court for such summoning, it said. Further, the Centre

Foreign investors may rejig allocation to Indian financials: Jefferies

Beyond the core earnings trajectory, clarity on the tenure and succession plans of chief executives at large financial institutions will also be important for the sector, analysts said.

EAC-PM calls for bank consolidation without compromising market competition

India should make efforts to consolidate banks in such a manner that a few big banks of equal size would be created, without compromising market competition in the industry, the Economic Advisory Council to the Prime Minister (EAC-PM) said in a working paper. The paper titled 'Reforms, Efficiency, and Productivity of Indian Banking Sector in the Last Decade : A DEA Approach' further said this will help support the growing credit need of the economy as India strives to be Viksit Bharat by 2047. "Though the concentration in the Indian banking industry is low, the market share of the banks varies significantly, starting from 20 per cent to below 1 per cent. "In this context, India should make efforts to consolidate the banks in such a manner that a few big banks of equal size would be created, without compromising market competition in the industry," the EAC-PM said. The paper noted that the bank consolidation was intended to create institutions with stronger capital bases, wider ...

DFS urges RRBs to sustain performance, strengthen credit flow to last-mile

Department of Financial Services DFS Secretary Sanjay Lohiya on Tuesday urged Regional Rural Banks (RRBs) to sustain good financial performance and further strengthen credit flow to the last mile. The net profit of RRBs increased to an all-time high of Rs 10,176 crore in 2025-26 against Rs 6,820 crore in FY25, a jump of 49 per cent. Both gross non-performing assets (GNPA) and net non-performing assets have reached all-time lows of 5.3 per cent and 2.1 per cent, respectively, the finance ministry said in a statement. Reviewing the financial performance here, Lohiya appreciated the commendable performance of all RRBs during 2025-26. At present, 28 RRBs are operating through 22,273 branches across 26 states and 3 Union Territories, covering about 700 districts. The total business of all 28 RRBs has crossed Rs 13.5 lakh crore, surpassing the business level of a few individual public sector banks (PSBs) in FY26. RRBs also continue to achieve all targets and sub-targets prescribed unde

SBI's total business may double to ₹200 trillion by 2030: Chairman

State Bank of India's total business could potentially double to around Rs 200 lakh crore by 2030, when the bank celebrates its platinum jubilee, given the current growth trajectory, Chairman C S Setty said. SBI came into existence on July 1, 1955 through an Act of Parliament, which, among other things, provided for the transfer of the undertaking of the Imperial Bank of India. The country's biggest lender crossed the landmark of Rs 100 lakh crore total business, which is an aggregate of total loans and advances in the second quarter of the last financial year. This further increased to Rs 110.01 lakh crore at the end of June 2026. Whether the bank had set a specific target for its platinum jubilee year, Setty said there was no formal milestone, but the bank's growth trajectory could take its total business to Rs 170-180 lakh crore and potentially as high as Rs 200 lakh crore by 2030. "We don't have any milestone, but if you take the current growth rate, I think we should be around

RBI swap window boosts deposits, but may trim bank NIMs by 3-15 bps

Banks have already mobilised $52.3 billion under RBI's concessional swap window, helping deposit growth and LDRs, but analysts expect NIM dilution of 3-15 basis points

FM asks PSBs to target youth with simple, personalised 24x7 banking service

Finance Minister Nirmala Sitharaman on Tuesday asked public sector banks to keep pace with youth's expectations of simple, intuitive, personalised and round-the-clock banking. Speaking at the PSB Confluence here, she asked public sector banks to launch a month-long 'Banking for Youth' campaign commencing October 2, 2026, with particular outreach to citizens above 16 years of age. The minister said banks should take the campaign directly to youth rather than wait for them to come to branches. Colleges, universities, skill-building institutions and other campuses can become important touchpoints for the campaign through account-opening initiatives, financial awareness and direct interaction, she added. Each of the 12 PSBs should develop its own strategy to attract and engage youth, based on its product offering, regional presence and institutional strengths, she said, adding the larger objective should be to build a long-term banking relationship from "campus to career and beyond", ..