Page 2 - Banking

BC network faces heat from qcom platforms as agents take up gig work

The business correspondent banking channel is facing attrition as agents are leaving over declining commissions, despite bringing in more new deposits than branches

ICRA raises FY26 bank credit growth forecast on GST-led demand uptick

ICRA expects bank credit growth at 10.7-11.5% in FY26, aided by higher retail and MSME demand following GST rationalisation. Corporate lending remains muted, with ECL impact pegged below 1.5%

IndusInd Bank looks to claw back salary, bonuses of former top officials

This year, IndusInd Bank disclosed incorrect accounting on derivative trades that prompted a $230 million hit to its accounts and led to exit of former CEO Sumant Kathpalia and deputy CEO Arun Khurana

GHCL partners with AuthBridge to strengthen supplier ESG compliance

GHCL Ltd has partnered with authentication solutions provider AuthBridge to enhance environmental, social and governance (ESG) compliance across its supplier network, the chemical manufacturer said on Monday. The collaboration will automate ESG data collection and verification, introduce ESG scoring into supplier evaluations, and align practices with global standards, including India's Business Responsibility and Sustainability Reporting (BRSR) framework mandated by the Securities and Exchange Board of India (SEBI). AuthBridge has engaged with GHCL's suppliers to facilitate ESG adoption, guiding security service providers on workplace harassment prevention and labour laws, while helping manufacturing partners track greenhouse gas emissions across direct and indirect sources. "Listed companies increasingly need scalable, tech-enabled solutions to manage supplier compliance," AuthBridge Founder and CEO Ajay Trehan said in a statement. GHCL's supplier base includes raw material vendor

Bank unions protest Nirmala Sitharaman's privatisation 'endorsement'

The forum cited the collapses of YES Bank, Global Trust Bank, and Lakshmi Vilas Bank as examples of governance lapses in private banks

Unused funds sign of sector maturing, lot of room for growth: PE chiefs | BFSI Summit 2025

India’s private equity (PE) story is still gathering steam, say top fund managers, who argue that unutilised capital is less a sign of caution and more a natural transition as the market matures.

Banking sector faces challenge of customer service: Arundhati Bhattacharya

Arundhati Bhattacharya, Chairperson and CEO of Salesforce India, said that the current banking sector faces the challenge of customer service.

Best & brightest at BFSI Summit: India's biggest finance event returns

From October 29 to October 31, the summit will feature keynotes, fireside chats, and panels on policy, digital banking, insurance, and AI in finance

Are banks closed on October 20 and 21 for Diwali? Check state-wise dates

Diwali 2025 bank holidays vary across states. Some will observe closures on October 20, others on October 21. Sikkim gets four holidays, Chhattisgarh three, Maharashtra, Gujarat, and UP two days each

IOB bets big on M&A financing, moves to address CASA concerns: MD & CEO

We are targeting double-digit growth of 13-15 per cent in the next two years, and in the last two years, we have grown more than that, says IOB MD & CEO

SMBC rules out plans to raise stake in Yes Bank beyond current level

In August, SMBC received Reserve Bank of India's approval to buy up to 24.99 per cent stake in Yes bank from State bank of India and seven other shareholders after having inked a deal in May

Digital arrests: Inside India's biggest scam and how to tackle it

Damage caused by the rise of the digital-arrest con, which has found fertile ground amid the country's soaring youth unemployment, endemic corruption and glaring wealth inequality, runs deep and wide

Digital payments to hit 617.3 bn in volume, Rs 907.3 trn value by FY2030

Transaction volumes have increased by 37 per cent to 206 billion, while value has jumped 30 per cent to Rs 299.9 trillion from FY24 to FY25

Relaxation of risk weights unlikely to spur growth in absence of demand

Banks in India are currently sitting on excess capital, with CET1 ratios around 14.7 per cent, well above the regulatory requirement of 8-9 per cent

Indian banks' business correspondent channel set for major overhaul

The rejig of the world's largest field channel of agents is to be based on the findings of a study conducted by the National Institute of Bank Management under the auspices of the central bank

RBI unveils incentive scheme to cut unclaimed bank deposits stock

The Reserve Bank on Tuesday announced a year-long incentive scheme for banks to reduce the volume of unclaimed deposits. Under the 'Scheme for Facilitating Accelerated Payout' Inoperative Accounts and Unclaimed Deposits', banks will be eligible to get a differential payout depending on the period of an account remaining inoperative and the amount of deposits in it. "The scheme aims to reduce both the stock of existing unclaimed deposits and fresh accretion of flows to the DEA Fund," an official communique from the central bank said. "The objective (of the scheme) is to encourage banks to actively pursue customers/ depositors for re-activation of their inoperative accounts and return of their unclaimed amounts lying with Depositors Education Awareness (DEA) Fund to the rightful claimant in a timely and efficient manner," the central bank said. Unclaimed money in accounts which are inoperative for more than 10 years goes into the depositor education and awareness (DEA) fund, but a ..

RBI revises norms for claims settlement of deceased bank customers

The Reserve Bank on Friday issued revised norms for the settlement of claims on deceased customers' bank accounts and lockers within a 15-day timeframe and prescribed compensation to nominees for delays in the settlement. The revised instructions are aimed at streamlining the divergent practices followed by banks in the settlement of claims in respect of deceased customers. It has also standardised the documentation to bring improvement in the quality of customer service. The central banks said the 'Reserve Bank of India (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025' revised instructions will be implemented as expeditiously as possible, but not later than March 31, 2026. The directions are related to the settlement of claims in the deposit accounts of a deceased customer, safe deposit locker and articles in safe custody by the deceased customer. A deposit account where a depositor had made a nomination or where the account was opened with a ...

India's banking liquidity crunch seen as temporary, says analyst

The Reserve Bank of India is comfortable with a liquidity surplus of around 1% of banks' deposits, which is roughly 2.5 trillion rupees

IndusInd Bank appoints Viral Damania as new chief financial officer

Damania's appointment, effective September 22, comes after the bank late last month said veteran banker Rajiv Anand had taken charge as its CEO for a three-year period

UAE firms keen to invest in Indian infra, banking, startups: Piyush Goyal

The UAE companies are looking at multiple sectors, such as infrastructure, data centres, banking, startups and logistics, in India to increase their investments, Commerce and Industry Minister Piyush Goyal said on Friday. He said that the two countries have reset their targets and are actively working to increase investments rapidly in different sectors, and enhance collaborations in areas such as renewable energy, shipbuilding, retail, and pharmaceuticals. Infrastructure is one of the major sectors where they (UAE) can see huge potential. There was a lot of interest in the banking sector and startups. The interest of potential investors is also in the logistics ecosystem in India and green energy. The UAE is keen to look at investments, Goyal told reporters here. The minister was here for the 13th India-UAE High-Level Joint Task Force on Investments. The two-day visit concluded on September 19. He was leading a 75-member business delegation. There are many ways through which India