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banking18h ago

Jana SFB targets 80:20 secured-unsecured loan mix; expects TVS partnership to boost two-wheeler financing

Jana Small Finance Bank plans to reduce unsecured loans to 22-23% of its portfolio over the next two years from 27%, with a long-term target of an 80:20 secured-unsecured mix. The lender expects its proposed partnership with the TVS Venu Group to accelerate two-wheeler financing. It also guided for up to 21% loan growth and an 80% rise in FY27 net profit.

Banking/Finance-Industry-Economic Times

banking18h ago

SBI appoints Sunil Agrawal as chief financial officer

State Bank of India has appointed Sunil Agrawal as its new Chief Financial Officer. Agrawal previously served as the Chief Financial Officer for LIC, the nation's largest life insurer. He brings twenty-seven years of extensive experience in financial services and strategic planning. His expertise includes financial planning, capital management, and regulatory engagement.

Banking/Finance-Industry-Economic Times

banking21h ago

TVS Venu Group firm Home Credit India to acquire Varthana Finance for Rs 967 crore

The acquisition will make Varthana Finance a wholly owned subsidiary of Home Credit India and a step-down wholly owned subsidiary of TVS Holdings after the deal closes. The move will help the group expand into a "complementary secured and longer-tenure lending segment" and strengthen its position in India's financial services sector, the company said.

Banking/Finance-Industry-Economic Times

banking21h ago

HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairman

HDFC Bank received RBI approval for Rajiv Kumar's appointment as part-time chairman. His three-year term as chairman will begin on July 15, 2026. This appointment follows the bank's application and an earlier intimation to the regulator. The bank thanked Keki Mistry for his service as interim chairman. Mistry will continue his role as a non-executive director on the board.

Banking/Finance-Industry-Economic Times

banking22h ago

Binance marks nine years with $156 trillion in trading volume and 323 million users

From crypto exchange to a multi-asset financial platform, Binance has completed 9 years in operation. The years of growth, driven by its global community of more than 323 million users. $156 trillion in trade volume and counting. Read on about the journey!

Banking/Finance-Industry-Economic Times

banking23h ago

Digit Life Insurance enters India’s retirement solutions market

Go Digit Life Insurance has entered India's retirement solutions segment. The insurer is betting on growing demand for pension and annuity products. This move expands their offerings beyond protection and savings products. The company launched the Digit Life Pension Plan for customers. This plan offers guaranteed and market-linked income options.

Banking/Finance-Industry-Economic Times

banking1d ago

Lending, deposit rates likely to ease gradually as funding costs soften: CareEdge

Lending and deposit rates will likely moderate gradually in coming months. High-cost legacy deposits are maturing, and liquidity remains comfortable. Competition for retail deposits will keep rate declines measured. Fresh lending rates stood at 8.51 percent while deposit rates were 5.84 percent. Bank credit grew strongly, driven by retail and MSME lending.

Banking/Finance-Industry-Economic Times

banking1d ago

Fairfax to acquire IDBI Bank stake in $5.5 billion deal, biggest foreign investment in Indian bank

Fairfax Holdings aims to secure a major stake in IDBI Bank through an improved offer. The collaboration with the government and LIC is set to yield about fifty-three thousand crore rupees from their combined stakes. This groundbreaking investment will set a new record as the largest foreign influx into an Indian bank.

Banking/Finance-Industry-Economic Times

banking1d ago

RBI amends bank board governance norms, new rules to kick in from Oct 1

In a move to bolster the banking sector, the Reserve Bank of India has unveiled new guidelines for bank board conventions, set to take effect on October 1. By adopting a principles-based strategy, these changes are designed to facilitate smoother operations for lenders, while maintaining stringent oversight on key aspects, including compliance and risk assessment.

Banking/Finance-Industry-Economic Times

banking1d ago

India Inc's overseas fundraise picks up pace in May to $4.7 bn: RBI data

Indian companies' external commercial borrowings proposals saw a significant jump in May. Total filings reached USD 4.74 billion, a notable increase from April's figures. Prominent firms like Indian Railway Finance Corporation and NTPC filed substantial borrowing intentions. Kisetsu Saison Finance also submitted multiple proposals for on-lending purposes. Filings for rupee-denominated bonds also occurred, with Sahrudaya Health-Care filing proposals.

Banking/Finance-Industry-Economic Times

banking1d ago

Insurance distribution boosts fee income at most public sector banks in FY26

Public sector banks earned higher insurance commissions in FY26, with most lenders reporting growth. Mutual fund distribution income showed mixed performance across various banks. State Bank of India led insurance commissions, with significant contributions from its subsidiary. Canara Bank and Bank of Baroda also reported insurance commission increases. However, Punjab National Bank and Union Bank of India experienced declines in some segments.

Banking/Finance-Industry-Economic Times

banking2d ago

Education-loan AUM of NBFCs seen up 20 pc despite slower US biz: Report

Education loan assets for NBFCs are projected to grow steadily at twenty percent this fiscal year. Diversification across study destinations offsets demand impact from US policy uncertainties. Asset quality remains robust and is expected to stay stable during this period. US-linked disbursements declined sharply, while UK and other destinations gained traction. The US share of education loan assets fell significantly as of March 31, 2026.

Banking/Finance-Industry-Economic Times

banking2d ago

7,700 jobs down: India’s top private banks’ workforce reduce as tech wonder gets busy

India's largest private banks are reducing staff numbers. This shift reflects increased automation and artificial intelligence adoption. Technology now handles routine operations, freeing human resources for customer-facing roles. Banks like HDFC and Axis Bank are redeploying talent to advisory and sales functions. This trend signals changing skill requirements across the banking industry.

Banking/Finance-Industry-Economic Times

banking2d ago

The experience economy is reshaping consumer finance

Young professionals now prioritize experiences, shifting financial goals from tangible assets. Consumers globally continue to spend on travel and experiences despite economic uncertainty. Financial institutions are adapting by designing products around lifestyles and travel utility. This evolution means financial products increasingly enable experiences rather than just purchases. The future of consumer finance will be driven by enabling meaningful life experiences.

Banking/Finance-Industry-Economic Times

banking14h ago

India's war-risk insurance pool faces its first real-world test

India's new maritime insurance pool has received its first claim. A vessel covered by the arrangement was damaged in a drone attack. This incident marks the pool's initial test amid regional tensions. The claim is currently being assessed for payout within the pool's capacity. Government backing provides an additional layer for larger potential losses.

Banking/Finance-Industry-Economic Times

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