Finance Sector

MUFG deal: Shriram Finance likely to benefit from lower cost of funds

Some experts also said that with a significantly strengthened capital base, the lender may consider a move towards becoming a universal bank

Microfinance institutions remain in pain even as green shoots appear

Microfinance portfolios fall for the sixth straight quarter despite improved asset quality, as credit access tightens

GST cuts: Insurers still negotiating commission revisions with distributors

Life insurers have formed committee to discuss the capping of distributor commission

RBI revises cash credit and overdraft norms to boost monitoring, discipline

The Reserve Bank of India has introduced revised norms governing cash credit, current and overdraft accounts, aiming to give banks greater operational flexibility while strengthening credit discipline

GST 2.0 pushes eway Bill volumes to third-highest ever at 129.8 mn in Nov

E-way bill generation climbed to 129.8 million in November, the third-highest monthly total so far, rising 28 per cent year-on-year as trade activity strengthened and controls to curb misuse tightened

RBI proposes full disclosure of forex transaction costs for retail users

RBI has proposed that authorised dealers give retail users a full break-up of transaction costs for forex cash, tom and spot contracts, including all fees, exchange rates and conversion charges

Wise to roll out multi-currency prepaid forex card for users in India

The UK fintech enters India's cross-border payments space, offering a card with 0.5% average FX fee and mid-market rates, challenging traditional markups

Berkley IFSC Branch first P&C insurer in GIFT City with dual licences

Berkley Insurance Company IFSC Branch has become the first P&C insurer in GIFT City to hold both insurance and reinsurance licences, and will focus on specialty lines by end-FY26

Wise to double down on cross-border payments, roll out prepaid forex card

Over 75,000 users waitlisted; fintech eyes cross-border payment expansion after securing RBI's in-principle PA-CB nod

Banks cut loan rates for retail segments after RBI's 25-bps repo cut

Lending rates linked to external benchmarks drop from Dec 6, offering relief to home, vehicle, and personal loan borrowers

Bajaj Finserv targets a 22% profit CAGR, double customers in 5 years

Eyes listing on insurance arms, focus NRIs through GIFT City, pension funds biz post Allianz exit

Nearing expiry: SBI seeks tax break extension for its GIFT City unit

SBI has asked the Centre to extend its 10-year tax holiday at GIFT City, saying early entrants lost effective benefit years. Experts warn activity could shift offshore if incentives lapse

Bank of Maharashtra OFS oversubscribed, govt mops up ₹2,492 crore

With the oversubscription of the offer-for-sale (OFS) of state-owned Bank of Maharashtra, the government is expected to realise about Rs 2,492 crore by diluting its 6 per cent stake in the bank. With the allotment of shares, the Pune-based lender would become Minimum Public Shareholding compliant with the Sebi norms. The OFS of Bank of Maharashtra closed for subscription Wednesday at a floor price of Rs 54 per share. At this price, the government would mop up about Rs 2,492 crore by divesting its 6 per cent stake in the lender. Prior to the OFS, the government's holding in the bank was 79.60 per cent. With the stake dilution to 73.6 per cent, the bank would be able to meet the MPS norm of 25 per cent as the government stake would come below 75 per cent. "The second day of Bank of Maharashtra OFS closed with good interest from investors and 1.72 times subscription. With this, the Bank is now Minimum Public Shareholding compliant. We thank all investors for their participation," ...

Decision to write down AT1 bonds legally valid, Yes Bank admin tells SC

Administrator argues 2020 write-off was valid under Basel III; court's ruling could force ₹8,400 crore repayment to bondholders

FM flags global tax risks from digitisation, new financial products

At Global Forum, India urges stronger transparency, confidentiality systems to tackle evolving financial structures

Finfactor raises $15 million in Series A, led by WestBridge Capital

Funds will boost analytics, product development, and support Finvu Account Aggregator's growth in lending and wealth management

RBI Deputy Governor bats for T20 agility, Test stability in finance

RBI Deputy Governor Swaminathan J says India's financial system needs both the innovation and speed of T20 cricket and the discipline and longevity of Test cricket

Despite digital transactions, ATM demand remains strong: OKI India CEO

Japanese firm OKI sets up a new manufacturing plant in India, banking on strong demand for cash machines and recyclers even as digital transactions soar

Microfinance portfolio drops 17% in Q2; 5 million borrowers exit credit

India's microfinance sector saw its sixth straight quarterly decline in gross loan portfolio in Q2 FY26, with sustained funding squeeze pushing nearly 5 million borrowers out of formal credit systems

Non-banks served 45% of commercial sector's funding till October

Corporate bond issuances surge as non-bank channels match banks in FY26