The Central Bureau of Investigation (CBI) has dismantled a multi-state impersonation and cheating network involved in banking recruitment. Four individuals, including a CGST inspector, were arrested for allegedly infiltrating banking exams and interviews by posing as candidates, thereby compromising the integrity of public examinations.
By the time she finished her term as SBI chairman, she was overseeing over two lakh employees, 24,000 domestic branches, 100 international ones and a bank that had stepped into the technological age and become youth-friendly. Meet Arundhati Bhattacharya, the first woman chairman of the State Bank of India and president and CEO, Salesforce, South Asia.
Finance Minister Nirmala Sitharaman has strongly criticised the Congress party and the previous UPA government amidst the row over IDBI Bank's divestment, alleging they used banks and financial institutions as "personal entities" and pressured employees to extend loans bypassing prudent norms. She defended the current government's decision to sell a stake in IDBI Bank to Fairfax, stating it was revived through professionalism and recapitalisation.
Indian equity benchmark indices extended losses for a second consecutive session, with the Sensex dropping 143 points, driven by a sell-off in power, banking, and financial stocks, coupled with elevated crude oil prices and persistent FII selling.
HDFC Bank has initiated an internal enquiry into the alleged leak of confidential information by two senior executives, with investigators examining whether the disclosed information was misused.
Indian benchmark equity indices, Sensex and Nifty, ended sharply lower, with the Sensex tumbling 876.37 points and the Nifty dropping below 22,900, primarily due to a decline in private bank stocks like HDFC Bank and Axis Bank, alongside weak global market trends.
The Supreme Court has mandated that banks must be held accountable for losses incurred by digital fraud victims, ensuring compensation of at least the amount lost if the fraud stems from the financial institution's lack of due diligence. The court emphasised that the proposed RBI regulatory framework must include enforceable provisions for compensation, preventive measures, and institutional accountability, moving beyond mere advisories. The CJI stressed the need for banks to use technology like AI to prevent fraud by monitoring unusual transactions and called for stronger accountability clauses against non-compliant banks.
Bankers said the impact could become more visible from September 29 as customers could withdraw larger amounts of cash, although ATM operations are increasingly managed through third-party cash-loading arrangements.
The Reserve Bank of India's new Foreign Exchange Risk Reserve (FERR) framework is making it more expensive for banks to hedge dollar interest payments on foreign currency non-resident (bank), or FCNR(B), deposits. Banks are now required to set aside cash equivalent to 20 per cent of their exposure, leading to a significant increase in hedging costs and forward premiums.
Apple has officially launched its Apple Pay service in India, initially partnering with Axis Bank for Visa and Mastercard credit card users. The service allows secure, cashless transactions via iPhone, iPad, and Apple Watch using NFC technology, without requiring PINs or OTPs. This move is set to intensify competition in India's digital payments market, currently dominated by UPI and local players, with Apple planning to onboard more banks and expand merchant networks.
HSBC has emerged as the leading international bank in facilitating fundraising for Indian companies through bonds, syndicated loans, and IPOs during January-September 2026, according to Hitendra Dave, CEO of HSBC India.
Marriage alone does not make a spouse liable for debt. The extent of liability depends on whether the spouse signed as a co-borrower or guarantor, or inherited assets.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
Indian benchmark equity indices, Sensex and Nifty, significantly recovered from sharp early losses, driven by buying in State Bank of India and Reliance Industries, alongside fresh foreign fund inflows, despite declines in Axis Bank and HDFC Bank.
India's banking system liquidity surplus has significantly narrowed due to tax outflows, including GST payments, and higher cash reserve ratio balances. This tightening liquidity has pushed the weighted average call rate closer to the RBI's marginal standing facility rate, with market participants anticipating a persistent deficit in the coming months.
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.
The Indian Cabinet has approved Fairfax Financial Holdings' Rs 52,878 crore bid to acquire a 60.72 per cent stake in IDBI Bank, marking the country's largest foreign direct investment in the financial sector.
A report in the Reserve Bank of India's (RBI's) monthly bulletin suggests that satellite-based night-time lights data and Google search trends can significantly improve quarterly economic growth estimates for Gujarat, Maharashtra, and Karnataka, reducing errors by up to 62 per cent.
The Supreme Court has ruled that banks must compensate victims of digital fraud, especially in cases like "digital arrests," if the fraud results from the financial institution's failure in due diligence. The court is examining RBI's proposed KYC amendments and stressed the need for a regulatory framework that includes victim compensation and preventive measures. It also highlighted the issue of mule accounts and the need for banks to alert police about suspicious transactions.
Police in Sonbhadra have arrested three more individuals from Bhopal, bringing the total to eight, in connection with a cyber fraud case involving bank accounts linked to the Satya Sanatan Trust. The investigation has uncovered 35 complaints of cyber fraud amounting to approximately Rs 11.63 crore, with funds allegedly routed through the trust's accounts and a commission paid to its president.
Delhi Police have dismantled a sophisticated cyber fraud network that allegedly used 37 mule bank accounts to siphon off Rs 7.36 crore from 99 complaints nationwide. Six individuals, including two bank branch managers and four sales staff, have been arrested for their alleged involvement in opening accounts with forged documents and converting illicit funds into cryptocurrency.
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.
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.
Delhi Police have dismantled an organised cyber-fraud network that primarily targeted individuals in South India with promises of loans and scholarships. Four individuals have been arrested, and five women telecallers were bound down, with police recovering numerous mobile phones, documents, and cash. The network operated by inducing victims to transfer money into fraudulently arranged bank accounts.
As the world's most populous country, India's economy looks large in the aggregate even as its average incomes stay modest.
'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.'
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
'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.'
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.
Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade after a three-day slide, driven by strong buying in blue-chip bank stocks and a firm trend in global markets, supported by easing US bond yields and record foreign-currency deposit inflows.
State Bank of India has embarked on a drive to cut the Know Your Customer (KYC) process to a single one across its branches, a top official said on Tuesday.
India is proposing the Data Empowerment and Protection Architecture (DEPA) for AI Training, a national framework designed to enable startups, researchers, and companies to train AI models using data from hospitals, banks, and public agencies while ensuring privacy and security. This initiative aims to unlock significant AI-driven value for India's GDP by 2030.
Public and private sector banks in India experienced significant deposit growth in the July-September quarter of FY27, largely propelled by foreign currency non-resident (bank), or FCNR(B), deposits mobilised under the Reserve Bank of India's concessional swap window, which closed on August 31.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
The Supreme Court has upheld the Bombay High Court's decision to quash the Yes Bank administrator's write-off of Rs 8,415 crore worth of Additional Tier 1 (AT-1) bonds, criticising the RBI and Yes Bank's conduct.
RBI Deputy Governor Poonam Gupta stated that India's economic growth momentum remains strong despite various global and domestic shocks, attributing this resilience to a diversified growth base and improved policy responses. She highlighted the economy's 7.8 per cent growth in Q1 and continued momentum into Q2, suggesting potential upgrades to growth forecasts.
Indian benchmark indices, Sensex and Nifty, closed significantly higher, with the Sensex rallying 1,233 points and the Nifty climbing to 23,440.80. This surge was primarily fuelled by a sharp increase in Reliance Industries' share price following strong quarterly earnings and a notable decline in crude oil prices.
Indian benchmark stock indices, Sensex and Nifty, experienced a significant drop on Monday, with the Sensex falling by nearly 548 points, primarily due to a fresh spike in crude oil prices, persistent foreign fund outflows, and rising bond yields.
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 indices Sensex and Nifty extended their rally in early trade, driven by strong buying in IT firms and an earnings-driven surge in Tata Group's retail arm, Trent, which reported a 25 per cent increase in net profit.
