New IRDAI chairman, private banks' retail loan growth, hiring at major commercial banks & more

The Centre has appointed Ajay Seth, recently retired finance secretary, as the new chairman of the Insurance Regulatory and Development Authority of India, 4 months after the position was left vacant. He’ll serve for 3 years or until he turns 65, whichever comes first. Retail loan growth at private banks slowed down in Q1 of FY26, with the top 5 lenders showing single-digit growth. Hiring at major commercial banks dropped in FY25 due to slower retail business growth, fewer new branches, and improved attrition rates thanks to better employee engagement. SBI is aiming high. It wants to be among the world’s top 10 banks by market value in the next five years, said chairman CS Setty after its latest Qualified Institutional Placement share listing on the NSE. India's net FDI saw a major dip in May 2025, down 98% to just $40 million, mainly due to higher repatriation and more outward investments by Indian firms.