Page 4 - Banks

Foreign investors to invest ₹50k cr in finance, banking sectors: Goyal

Commerce and Industry Minister Piyush Goyal has said that in the last few months, foreign investors have announced plans to invest over Rs 50,000 crore in India's finance and banking sectors. Amidst global headwinds, he said India is an oasis for investments. He added that today, India is emerging as a preferred investment destination. Even in turbulent times, Foreign Direct Investment (FDI) continues to flow robustly, the minister said. "In the last few months itself, investors from all over the world have announced plans to invest over Rs 50,000 crore in India's finance and banking sector," he said in a post on X. This surge in FDI highlights the growing attractiveness of the Indian economy to global investors, he said. FDI in India rose 15 per cent to USD 18.62 billion during April-June this fiscal year, while the inflow from the US nearly tripled to USD 5.61 billion during the quarter, according to government data.

PNB expects $1 billion hit in transition to new credit rules, says CEO

The country's third-largest state-owned lender by market capitalisation is one of the first to disclose an estimate on the likely effect of the rules

Punjab & Sind Bank Q2 results: Net profit rises 23% to ₹295 crore

The board in its meeting on Thursday also approved raising funds of ₹3,000 crore in the form of long-term infrastructure bonds in one or more tranches by March 2027

Nifty Bank outlook: Goldman Sachs expects index to outrun Nifty near-term

Goldman Sachs expects Nifty Bank to outperform Nifty50 in the near-term, aided by easing regulatory norms and better liquidity

PL Capital sees Nifty at 28,781 in 1 yr; banks, auto, defence to lead rally

Analysts at PL Capital expect domestic-oriented sectors to outperform, naming banks, NBFCs, autos, retail, consumer staples, defence, metals, and select consumer durables as top picks.

JPMorgan unveils $1.5 trn plan to boost investments in US industries

As part of the 10-year initiative, the largest U.S. lender also plans to hire more bankers and invest up to $10 billion into U.S. companies through direct equity and venture capital investments

Govt opens up State Bank of India managing director position to pvt sector

FSIB may hire HR agency to carry out behaviour and competency assessment of candidates

HSBC to acquire Hang Seng unit for nearly $14 billion in Hong Kong bet

To keep its capital ratio within range, HSBC said it will refrain from buybacks for the next three quarters

GenAI led to 20% fall in white-collar job listings in S Asia: World Bank

The World Bank drew on monthly data from labour market research and consulting firm Lightcast, covering 28 million job postings between 2020 and 2025

Central, state co-op banks brought under ambit of RBI's Ombudsman scheme

State co-operative banks and central co-operative banks will come under the ambit of the Reserve Bank Integrated Ombudsman Scheme, 2021, from November 1, the central bank said on Tuesday. The RBI has issued a notification in this regard. With this enhancement, the Integrated Ombudsman Scheme would cover all commercial banks, regional rural banks, state co-operative banks, central co-operative banks, scheduled primary (urban) co-operative banks, and non-scheduled primary (urban) co-operative banks with a deposit size of Rs 50 crore. All non-banking financial companies -- excluding housing finance companies, which are authorised to accept deposits or have a customer interface, with an asset size of Rs 100 crore and above -- are covered under the scheme. Credit information companies are also covered under the scheme. The Reserve Bank Integrated Ombudsman Scheme (RB-IOS) - launched in November 2021, provides customers of regulated entities (REs) a speedy, cost-effective and expediti

Hinduja Group firm IIHL Mauritius acquires 100% stake in Sterling Bank

IndusInd International Holdings Ltd (IIHL), Mauritius, has completed the full acquisition of Bahamas-based Sterling Bank by acquiring the remaining 49 per cent equity, a statement said on Monday. With the acquisition, Sterling Bank has become a wholly-owned entity of Hinduja Group firm IIHL Mauritius, which is also the promoter of IndusInd Bank. IIHL Mauritius had acquired a controlling 51 per cent stake in Sterling Bank in September 2022. The acquisition was made through IIHL's wholly owned subsidiary, IIHL (Capital), Mauritius, the company said in a statement. IIHL, a Mauritius-based entity with a net worth of USD 1.26 billion as of August 31, 2025, has a diversified investment portfolio across the Banking, Financial Services, Securities, and Insurance (BFSI) sectors. It is also the promoter of IndusInd Bank, India's fifth-largest private sector bank, serving over 42 million customers through a nationwide network of over 6,100 touchpoints, with a business size exceeding USD 86 ..

Fifth Third, Comerica enter $10.9 bn deal to create ninth-largest US bank

Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share, valuing the deal at $82.88 per share based on Fifth Third's closing price on October 3

SBI aims to be one-fourth of India's GDP by assets: Chairman C S Setty

Setty highlighted that India has to focus on the emerging sectors

Banks move to continuous cheque clearing, funds in hours from October 4

From October 4, cheques will be cleared on a near real-time basis under a new continuous clearing system, replacing the batch process and speeding up fund access

UPI races ahead, accounts for 84% of total digital payments in FY25

The UPI digital payment system has been fast replacing cash as a preferred mode of payment, and has now taken the lead in overall digital payments

RBI proposes basic savings bank deposit account as a standard service

RBI draft circular mandates that all banks offer BSBD accounts with free basic facilities, no minimum balance, and the option to convert existing savings accounts

FM to kick off nationwide campaign on unclaimed financial assets on Oct 4

Finance Minister Nirmala Sitharaman will launch a three-month nationwide awareness campaign (October-December 2025) on unclaimed assets in the financial sector, titled 'Apki Poonji, Apka Adhikar (Your Money, Your Right)'. The campaign is to be launched by the Department of Financial Services under the Finance Ministry, in coordination with the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (Irdai), Securities and Exchange Board of India (Sebi), and the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs. The campaign will be inaugurated by the Finance and Corporate Affairs Minister on October 4 from Gandhinagar, Gujarat, an official statement said. Unclaimed financial assets, including insurance policy claims, bank deposits, dividends, shares, and mutual fund proceeds, often remain unclaimed due to the lack of awareness or outdated account details, it added. During the campaign, the citizens will be

Sidbi net profit rises by 19.5% to record high of ₹4,811 cr in FY25

Small Industries Development Bank of India (Sidbi) on Monday said its net profit rose by 19.5 per cent to hit an all-time high of Rs 4,811 crore in the 2024-25 financial year. The Lucknow-headquartered bank had earned a net profit of Rs 4,026 crore in the previous financial year. During the year, Sidbi's balance sheet crossed Rs 5.6 lakh crore, the bank said in a statement. The asset base grew by 8.7 per cent to Rs 5,68,238 crore as of March 31, 2025, from Rs 5,22,521 crore as of March 31, 2024. The loans and advances portfolio rose by 8.8 per cent to Rs 4,96,282 crore from Rs 4,56,015 crore in FY24, it said. The bank earned an income of Rs 38,511 crore, up 20.6 per cent over the previous year. Earnings per share increased to Rs 84.62 in FY25. Regarding asset quality, it stated that the Gross NPA and Net NPA ratios stood at 0.04 per cent and nil, respectively, as of March 31, 2025. The bank's annual general meeting held on Monday approved a dividend of 20 per cent for ...

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 ...

US Banks to lean on India hubs as Trump imposes $100,000 visa fees

US lenders including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among the biggest employers of India's so-called global capability centers