Banking
Latest news, explainers and analysis on Banking. Tracking 50 stories on Arth Vani.
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Latest on Banking
BreakingBanks Question Subhash Chandra's ₹40,562 Cr Net Worth Drop, RP's Role
Dissenting banks are raising serious concerns over the drastic fall in Subhash Chandra's net worth from ₹40,562 crore to ₹32 crore in his insolvency case. They are also questioning the role of Resolution Professional Shiv Nandan Sharma and the alleged crowding out by related parties in the Committee of Creditors, highlighting difficulties in high-profile debt recovery.
Swift Extends ISO 20022 Deadline for Banks Amidst Compliance Challenges
Swift has postponed the previously set November deadline for financial institutions to adopt structured postal addresses for ISO 20022 payment messages. This extension comes after numerous banks requested more time to align their systems with the new global standard, which aims to enhance the accuracy and efficiency of cross-border payments.
Public Sector Banks Borrow More as Deposits Lag Behind Loan Demand
Public sector banks (PSBs) are increasingly relying on borrowing to meet the rising demand for loans because their customer deposits are not growing at the same pace. This trend highlights a potential challenge for state-owned lenders in sustaining their funding, although current high liquidity in the financial system is helping to manage the immediate impact. Meanwhile, private sector banks are showing stronger deposit growth, allowing them to expand their lending more easily.
SBI Eyes Rs 200 Lakh Crore Business by 2030, Eyes 7-8% Growth
State Bank of India (SBI) Chairman Dinesh Kumar Khara announced the bank's ambitious 'Vision 2030', projecting its total business to potentially double to ₹200 lakh crore by 2030. This growth is aligned with India's expected economic expansion of 7-8% annually.
Indian Bank Gold Loan Book to Hit ₹1.5 Lakh Crore by FY27
Indian Bank anticipates its gold loan portfolio will exceed ₹1.5 lakh crore by the end of the current financial year, driven by strong demand and increased loan volumes. The bank also reported healthy CASA deposit growth and successfully raised USD 400 million via overseas bonds.
India Post RPLI Now Accessible via Scheduled Bank Accounts for Urban Migrants
India Post has expanded the eligibility for its Rural Postal Life Insurance (RPLI) scheme, allowing policyholders to pay premiums through savings accounts held with any scheduled bank. This change primarily benefits individuals who relocate from rural to urban areas, ensuring they can maintain their insurance coverage more easily.
BreakingHC Orders Bank to Pay ₹50,000 for Freezing Account Over ₹23 Lakh RTGS Mismatch
A businessman's bank account was frozen after receiving ₹23 lakh via RTGS due to an alleged income mismatch. The Allahabad High Court ruled in his favor, directing the bank to pay ₹50,000 in compensation and unfreeze the account.
JPMorgan Drops Crypto Prediction Platform Polymarket Over Regulatory Concerns
Financial giant JPMorgan Chase has reportedly severed its banking relationship with Polymarket, a crypto-based prediction market. The move stems from unnamed regulatory concerns, highlighting the increasing scrutiny traditional banks apply to digital asset firms.
New LaunchBreakingDamaged Credit Card? Here's How to Get a Replacement Fast
If your credit card is damaged or no longer working, banks offer a straightforward process to get a replacement. Following these steps can help ensure you don't face payment disruptions.
RBI Deadline Pushes Indian Banks to Seek Short-Term Foreign Loans
Indian banks are preparing to borrow short-term funds from abroad, potentially at higher rates. This move is a direct response to the Reserve Bank of India (RBI) advancing the deadline for swap support related to FCNR(B) deposits, creating a need to finance commitments to foreign currency non-resident clients.
MUFG Tests Blockchain for Japanese Government Bond Repo Settlement
Mitsubishi UFJ Financial Group (MUFG) is exploring the use of blockchain technology to streamline the settlement of Japanese Government Bond (JGB) repurchase (repo) transactions. This proof-of-concept aims to enhance efficiency and reduce risks in a crucial segment of the financial market.
Government's ₹20,000 Crore Credit Guarantee Scheme Sees Only 17% Disbursement
Banks have disbursed a mere 17% of the funds under the government's ₹20,000 crore credit guarantee scheme, designed to support the microfinance sector. Only about ₹1,000 crore has reached small and medium microfinance entities, as banks remain cautious and larger microfinance companies are hesitant to borrow.
New LaunchBlue Ridge Bankshares Reports Q2 2026 Results: Loan Growth Returns, Deposits Improve
Blue Ridge Bankshares, Inc. announced its revised second-quarter 2026 financial results on August 10, 2026, highlighting a return to loan growth, an improved deposit mix, and continued operational expense reductions. The US-based bank's parent company, listed on the NYSE American, focused on these qualitative improvements in its report.
BreakingIndian Microfinance Sector Shrinks 4% to ₹3.26 Lakh Crore Amid Uneven Monsoon
India's microfinance sector experienced a 4% contraction in its loan portfolio, settling at ₹3.26 lakh crore by the end of June. This downturn, observed in the first quarter of the current financial year, is primarily attributed to an erratic monsoon season which has dampened rural demand and led to increased caution among lenders. The slowdown comes after a period of recovery and highlights the microfinance sector's sensitivity to agricultural conditions and rural economic health.
New LaunchBreakingGovernment May Reintroduce UPI Charges for Large Merchant Transactions Over ₹2,000
The Indian government is considering reintroducing Merchant Discount Rate (MDR) for UPI transactions made to large merchants, specifically those exceeding ₹2,000. This move, part of proposed amendments to the Payment and Settlement Systems Act, aims to help banks and fintech firms recover technology and infrastructure investments in the digital payments ecosystem.
New LaunchBreakingUPI Transaction Fees: Merchant Discount Rate (MDR) Debate Reignites
After nearly six years of zero-cost transactions, the debate around introducing Merchant Discount Rate (MDR) for UPI payments is back on the table. This could potentially impact transaction costs for merchants and, indirectly, consumers.
Fintech 'Increase' Acquires US Community Bank, Signals Global Trend in Banking
Increase, a banking infrastructure fintech founded by Stripe's first employee, has acquired its own community bank in the US. This move highlights a growing global trend where technology companies are integrating deeper into traditional financial services, gaining direct control over banking operations.
Banking Rules Update: LCR Norms Eased for Certain Deposits from FY27
Starting the first quarter of Financial Year 2027, Indian banks will benefit from revised Liquidity Coverage Ratio (LCR) norms. The assumed run-off rate for deposits from non-financial entities like trusts and LLPs has been significantly reduced from 100% to 40%, giving banks greater flexibility in managing their short-term liquidity.
New LaunchUS-Based Blue Ridge Bankshares Announces Q2 2026 Results, Citing Loan Growth & Cost Cuts
Blue Ridge Bankshares Inc., a US-based financial holding company, announced its second-quarter 2026 financial results on July 28, 2026. The company highlighted positive trends including a return to loan growth, an improved deposit mix, and continued reduction in operating expenses. Specific financial figures were not provided in the announcement snippet.
Kotak Mahindra Bank Secures $600 Million (₹4,980 Crore) Foreign Loan to Boost Dollar Inflow
Kotak Mahindra Bank has arranged a $600 million (approximately ₹4,980 crore) loan from HSBC and CTBC Bank. This foreign currency facility aims to attract dollars into India and support Non-Resident Indian (NRI) deposits, leveraging a special swap facility from the Reserve Bank of India (RBI).
First Bank Richmond Parent Reports ₹19.25 Crore Net Income in Q2 2026
Richmond Mutual Bancorporation, Inc., the parent company of First Bank Richmond, announced a net income of $2.2 million (approximately ₹19.25 crore) for the second quarter of 2026. The Maryland-based corporation, listed on NASDAQ as RMBI, reported diluted earnings per share of $0.22 (approximately ₹19.25) for the period.
IDFC FIRST Bank Targets 50 BPS Cut in Credit Costs to 1.5-1.6% This Fiscal Year
IDFC FIRST Bank aims to significantly reduce its credit costs to between 1.5% and 1.6% of its loan book for the current financial year. This target represents a 50 basis points (0.50%) reduction from the previous year's credit cost of 2.13%, signaling optimism about improving credit quality.
BreakingICICI Bank's $1 Billion Overseas Bond Success May Prompt Other Indian Lenders to Global Markets
ICICI Bank recently raised $1 billion through an overseas bond sale facilitated by GIFT City, attracting strong interest from global investors and securing lower borrowing costs. This success is expected to encourage other Indian banks to tap international debt markets, leveraging the Reserve Bank of India's (RBI) subsidised hedging facility.
Global Outlook: Bitcoin Rally May Continue, Banks Eye BTCI Income
A global financial report indicates that Bitcoin's current rally may have sustained momentum, suggesting a continued upward trend. The report also highlights that banks are potentially generating income through 'BTCI', signaling increased integration between traditional finance and digital assets.
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