Finance Sector

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

ICICI Prudential AMC IPO gets Sebi nod, set for launch in December

Prudential to sell 10 percent stake in listing valued above Rs 1 trillion

FIMMDA unveils SORR-based OIS plan, invites comments by December 15

FIMMDA has released a proposed settlement and trading framework for a new SORR-linked OIS product, aligning with the shift to secured benchmarks, and has invited market feedback by December 15

In a first, commercial banks' credit-deposit ratio breaches 80% mark

Another rate cut will make mobilising resources tough

NBFCs seek refinance window, tax tweaks in pre-Budget meeting with FM

Dedicated refinance window on the lines of NHB for the NBFC sector and aligning long-term capital gains tax with fixed deposits to encourage deposit mobilisation are some of asks presented before Finance Minister Nirmala Sitharaman on Wednesday during a pre-Budget meeting with the representatives of BFSI sector here. There is a need to create a dedicated refinance window for NBFCs (non-banking financial companies) to ensure a smooth and sustainable flow of funds and resources raised through this mechanism may be exclusively used to finance MSMEs and priority sectors, Finance Industry Development Council CEO Raman Aggarwal said after the meeting. With regard to recovery, he said, there was a suggestion for tweaking of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act so that NBFCs can benefit from this. Currently, he said, the limit under SARFAESI Act is Rs 20 lakh which can be reduced so that smaller NBFC players can be ...

Capital market players call for tax sops, steps to deepen financial sector

Representatives of capital markets on Tuesday pitched for reductions in transaction tax and measures to deepen the financial sector in the upcoming Budget. Suggestions regarding improving efficiency of capital markets and increasing capital market inclusion were also made during the pre-Budget meeting with Finance Minister Nirmala Sitharaman, sources said. Representatives of the sector sought lower Securities Transaction Tax (STT) on cash market trade as compared to derivatives, sources said. This was the fourth pre-Budget meeting between the finance minister and representatives of capital markets, including BSE, Multi Commodity Exchange, Association of Mutual Funds in India, Association of Registered Investment Advisers, and Commodity Participants Association of India. Capital markets facilitated resource mobilisation of Rs 14.6 lakh crore in FY25, marking a 33 per cent increase over the previous year. The use of a broad spectrum of financial instruments -- ranging from equity an

Axis Max Life chases 'breakout No. 3' in life insurance: MD & CEO

MD & CEO Sumit Madan says product mix tweaks and cost control will offset ITC loss as firm targets "breakout number 3" position in industry

Piramal Finance hits ₹30,000 cr market cap on debut after PEL merger

Shares of Piramal Finance, which debuted on BSE after its merger with PEL, hit the upper circuit at Rs 1,333.45, valuing the NBFC at over Rs 30,000 crore

BS BFSI Summit: Top experts from the finance world to share their insights

The summit's broad focus is charting the future of the financial services industry at a critical economic juncture

Buy Now, Pay Later: Limit instalments to 10-15% of income, restrict usage

Those with multiple loans, irregular earnings, or poor repayment habits should avoid this form of quick credit

RBI proposes lower risk weight for NBFC loans to infrastructure projects

Draft norms define high-quality infrastructure projects, aim to reduce capital burden for NBFCs and align risk weights with actual project performance

Corporate advance growth for large banks robust in Q2 as demand picks up

The growth in corporate loan books of major banks comes at a time when, in Q1FY26