Page 3 - Finance Sector
NPS to grow over 30% in FY26, says PFRDA chief Sivasubramanian Ramann
The Pension Sakhi model, inspired by bima sakhis, is a very important initiative, said PFRDA Chairman
 "NPS to grow over 30% in FY26, says PFRDA chief Sivasubramanian Ramann")
CBIC rolls out automated approval system for IFSC code registration
According to CBIC, the initiative will ensure swift processing of bank account and IFSC code approval requests, simplify registration across different ports
 "CBIC rolls out automated approval system for IFSC code registration")
RBI announces draft norms for transition to expected credit loss framework
In the ECL framework, banks need to adopt a three-stage approach to determine Significant Increase in Credit Risk (SICR)
 "RBI announces draft norms for transition to expected credit loss framework")
Govt aims to complete IDBI Bank stake sale before FY26-end: M Nagaraju
DFS Secretary M Nagaraju says the government will complete the IDBI Bank sale this fiscal and begin phased divestment in five other public sector lenders
 "Govt aims to complete IDBI Bank stake sale before FY26-end: M Nagaraju")
Adani Green gets $250 million in first offshore loan since investigation
A group of four banks - DBS Bank Ltd., DZ Bank, Rabobank and Bank SinoPac Co Ltd - agreed to extend the credit
 "Adani Green gets $250 million in first offshore loan since investigation")
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
 "Fifth Third, Comerica enter $10.9 bn deal to create ninth-largest US bank")
Adani Enterprises taps debt private placement after 2-year gap: Bankers
Adani Enterprises raised 10 billion rupees in July via a public issue of two-, three- and five-year bonds at coupons of 8.95%-9.30%
 "Adani Enterprises taps debt private placement after 2-year gap: Bankers")
Beyond a bank's balance sheet: Customer service takes centre stage
Rankings based on redressal of customer complaints are finally making banks and insurance companies realise the importance of customers service
 "Beyond a bank's balance sheet: Customer service takes centre stage")
Statsguru: Small-size banking frauds soar, SBI worst-hit PSB in FY25
Card and internet banking frauds formed 56.5 per cent of all cases in FY25, after touching a peak of 80.6 per cent in FY24
 "Statsguru: Small-size banking frauds soar, SBI worst-hit PSB in FY25")
Microfinance sector faces funding crunch, default fears amid scrutiny
The microfinance industry is in a bind as funding declines and fears of defaults swirl amid stricter regulatory scrutiny
 "Microfinance sector faces funding crunch, default fears amid scrutiny")
NPS: You can choose 100% equity exposure based on risk appetite, timeline
Investors must educate themselves and become more financially savvy to optimise the benefits of greater choice
 "NPS: You can choose 100% equity exposure based on risk appetite, timeline")
Warburg Pincus to invest ₹500 cr in Truhome Finance, says CEO Subramanian
He further mentioned that, aside from the fund infusion, the company has the "scale and figures" needed for an initial public offering
 "Warburg Pincus to invest ₹500 cr in Truhome Finance, says CEO Subramanian")
Govt takes first steps towards a domestic firm to take on global Big Four
Industry professionals welcome move, but point to onerous regulatory hurdles, such as a block against multi-disciplinary collaboration and advertising, that need to be tackled first
 "Govt takes first steps towards a domestic firm to take on global Big Four")
If you need a personal loan, what are the best rates available now?
A personal loan can be used for multiple things, but one must keep in mind that they come with a somewhat higher price tag
 "If you need a personal loan, what are the best rates available now?")
RBI proposes easing curbs on current, cash credit, and overdraft accounts
RBI has proposed easing restrictions on operating Current, Cash Credit and Overdraft accounts, giving banks more flexibility in handling accounts of regulated borrowers
No proposal to levy charges on UPI transactions, says RBI governor
RBI governor Sanjay Malhotra said UPI transactions will remain free, while the central bank tests an AI-driven fraud detection system to curb risks in digital payments
 "No proposal to levy charges on UPI transactions, says RBI governor")
Deadline for opting for Unified Pension Scheme extended till November 30
The government has extended the deadline for employees, retirees and spouses of deceased retirees to opt into the Unified Pension Scheme till November 30, 2025
 "Deadline for opting for Unified Pension Scheme extended till November 30")
DFS, Meity secys among 3 external members of Payments Regulatory Board
The new Payments Regulatory Board, chaired by the RBI governor, will replace BPSS and include government nominees - the DFS secretary, Meity secretary and retired IAS officer Aruna Sundararajan
RBI retains call rate as policy anchor in revised liquidity framework
Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China
India to sell new 10-year government bond on October 3 to raise $3.6 bn
The current benchmark 6.33 per cent 2035 bond has an outstanding of 1.8 trillion rupees
 "India to sell new 10-year government bond on October 3 to raise $3.6 bn")
