Indian banks are projected to achieve healthy profit growth in the second quarter of financial year 2027 (Q2FY27), driven by lower credit costs, robust advance growth, and fee income. However, net interest margins (NIMs) are expected to face pressure due to significant mobilisation of foreign currency non-resident (bank) FCNR(B) deposits.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
Axis Bank MD & CEO Amitabh Chaudhry has cautioned that the surge in FCNR(B) deposits could lead to 'abnormal lending' as banks seek to deploy excess liquidity, while also hinting at a potential interest rate hike in the near future.
'There will be some inconvenience to people. But we have given one-month notice to the government one month ago.'
The finance ministry has announced that all banks, including Regional Rural Banks, will remain open on Sunday, September 27, 2026, to ensure public convenience amidst a proposed three-day strike by the United Forum of Bank Unions (UFBU) starting September 28, 2026. The strike, if it materialises, seeks a 5-day banking week and pension reforms.
'Ultimately, banks are a channel for people to get some long-term return, and this means banks need to adjust their asset-liability mismatch.' 'Customers also need long-term deposits, say those of three-five years. How would they get them if returns on those deposits do not climb?' 'Otherwise, on fixed deposits, a senior citizen doesn't get anything.'
A World Bank report, 'The Promise of Artificial Intelligence', states that AI presents a historic opportunity for low- and middle-income countries to overcome development challenges, despite many being unprepared. It advises these nations to adopt and adapt existing AI tools rather than focusing on building frontier models immediately. The report also notes a significant gap in AI adoption and job automation between high-income and developing countries.
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
'India needs to create eight-nine million jobs annually to absorb the growth in the working-age population.' 'Failure to create productive jobs could squander the demographic advantage that we enjoy right now.'
India's foreign exchange reserves experienced a notable decline of USD 8.578 billion, settling at USD 726.027 billion for the week ending October 9, marking a continued downward trend from their September peak.
Banking services across India, particularly at public sector banks, are set to be disrupted for three days starting Monday due to a nationwide strike by bank unions. The strike, called by the United Forum of Bank Unions (UFBU), is primarily to press for a five-day working week and other demands, despite the finance ministry's appeal for dialogue.
Jio Platforms Ltd, the digital services arm of Reliance Industries, has become the second most valuable Indian company by market capitalisation following a highly successful debut on the Dalal Street, with its shares closing 26.66 per cent higher than the issue price.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
Apple Pay is now available in India. Here's how you can add an eligible credit card to Apple Wallet and make payments using your iPhone.
State Bank of India (SBI), India's largest lender, announced a 14 per cent increase in standalone net profit to Rs 23,038 crore for the second quarter ending September 30, 2026, driven by higher total income and a significant reduction in non-performing assets.
Naman Dhir's unbeaten 42 off 15 balls secured a thrilling four-wicket win for India against New Zealand in the first T20I, showcasing his potential as a reliable finisher for the national side, drawing praise from cricket legends like Ravichandran Ashwin and Ravi Shastri.
India's foreign exchange reserves have decreased by USD 1.269 billion to USD 719.748 billion for the week ended October 30, with experts attributing the decline to the deployment of FCNR(B) resources and the Reserve Bank of India's currency defence measures.
Indian benchmark indices, Sensex and Nifty, closed largely unchanged after a volatile trading session, influenced by persistently high crude oil prices, selling pressure in major bank stocks, and investor caution ahead of the US Federal Reserve's policy decision.
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
The Supreme Court has expressed shock and concern over the increasing number of digital arrest scams, questioning why educated individuals continue to fall victim despite public awareness. The court highlighted a case where a woman lost Rs 2.5 crore and suggested that banks should act as a protective umbrella for customers. It is considering directing banks to compensate victims and face prosecution if fraud occurs due to their negligence, noting that digital arrests have already reduced by 50 per cent after its intervention.
'Many women lose control of properties after their husband's death.'
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
'Resolution plan with this much haircut is totally unviable.'
Indian stock markets witnessed a significant rally, with the Sensex soaring 905 points and the Nifty topping 22,900, primarily driven by strong buying in banking and FMCG shares, coupled with easing crude oil prices and a US Fed rate pause.
India's foreign exchange reserves experienced a substantial drop of USD 18.343 billion, settling at USD 747.557 billion for the week ending September 25, according to the Reserve Bank of India.
Credit card spending in India experienced its first year-on-year decline since February 2021, falling 5.9 per cent to approximately 2.04 trillion in September, primarily due to a high base from the previous year's early festive sales and GST rate cuts.
Indian benchmark indices Sensex and Nifty continued their upward trend for the fourth consecutive day, with the Sensex jumping 1,225 points, driven by a correction in crude oil prices, renewed foreign fund inflows, and resilient Q2 earnings.
India has secured a spot among the top 10 leading emerging-market performers in artificial intelligence (AI) readiness, with private investment in AI more than tripling to USD 4.1 billion in 2025, according to a new World Bank report.
The Reserve Bank of India (RBI) has increased its GDP growth forecast for the current fiscal year (FY27) by 40 basis points to 7.1 per cent, acknowledging the resilience of domestic economic activity despite global headwinds and geopolitical tensions.
Delhi Police have arrested two men for impersonating a corporate director and defrauding banks of Rs 22.56 lakh through fraudulent RTGS instructions. The investigation led to the recovery of assets worth Rs 2.5 crore, including gold, cash, and a Thar, and helped solve six other similar cases of financial fraud.
Indian equity benchmark indices Sensex and Nifty rallied for the second consecutive session, driven by strong buying in IT firms and a significant boost from Tata Group's retail arm Trent following its impressive September quarter earnings.
Delhi Police have dismantled an organised cyber fraud network responsible for duping individuals of over Rs 10 crore. Five individuals have been arrested across India in connection with 544 complaints. The fraudsters used a foreign-based application to send phishing messages, impersonating traffic challans and reward schemes, to steal money from victims.
Union Minister Hardeep Singh Puri's Rajya Sabha bypoll affidavit reveals his wife, Laxmi Puri, possesses significantly greater wealth, including higher annual income, movable assets, and bank deposits. The affidavit details their respective financial holdings, income sources, and also mentions Puri's acknowledged past meetings with Jeffrey Epstein, while confirming no criminal cases are pending against him.
Growth in India's currency in circulation (CiC) has reached a five-year high, primarily due to deposits under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme, leading to a robust increase in reserve money, according to the Reserve Bank of India's (RBI) 'State of the Economy' report.
IBM India and South Asia MD Sandip Patel stated that India is at a defining moment with a unique opportunity to shape exponential technologies like artificial intelligence, emphasizing that "when India builds, it builds for billions," leading to scalable impact. Speaking at the IBM Think 2026 event, Patel highlighted that the AI revolution is still in its early stages, requiring enterprises to redesign their operations around agents, real-time data, automation, hybrid architecture, and trust. He also introduced the concept of "digital swaraj" or sovereignty in the Indian context, stressing the importance of control over operating environments, data, technology, and AI execution. IBM also announced an MoU with MeitY Startup Hub to accelerate India's deep tech innovation and startup ecosystem, providing startups access to IBM's technology expertise and platforms like watsonx and Sovereign Core.
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, primarily driven by strong buying in Reliance Industries and sustained foreign fund inflows. Adani Ports also emerged as a significant gainer after reporting an 18 per cent rise in consolidated net profit. Track Sensex, Nifty on October 29.
A frozen phone screen, a fake customer-care call, a screen-sharing request or even a duplicate SIM can give cybercriminals a route into your bank account.
'The Indian market has struggled over the past two years.' 'It peaked in September 2024, and although it has moved up and down since then, investors have not really made money.'
Delhi Police have arrested two men, Sachin Sharma and Sumit, for allegedly defrauding Tamil Nadu residents by promising scholarships for higher education. The scam involved using a mule bank account and a database of 54,000 contacts. Investigators traced the financial trail after a complaint from a victim, leading to the arrests and the recovery of crucial evidence.
