The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
India is projected to attract between $80 and $85 billion through the Reserve Bank of India's (RBI) concessional swap facility, designed to boost foreign currency inflows, according to an SBI research report.
Officials asked what the point was in going through banks when the government has to give guarantees.
Bad loans of PSU banks rose by 28.5 per cent.
The Indian government is accelerating its sale of minority stakes in state-owned companies, including a significant offer for sale (OFS) in Life Insurance Corporation of India (LIC) expected "very soon," to meet its 80,000 crore mobilisation target and reduce its holdings to 75 per cent in most listed PSUs by year-end.
Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
What is the reason behind this drying up of talent for the top post in private banks?
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
ICICI Bank has successfully raised $1 billion through a five-year senior unsecured US dollar bond, marking its first public dollar bond issuance since 2017 and the largest single-tranche US dollar bond issuance by an Indian issuer so far this year.
The CBSE revaluation portal experienced a cyber attack, affecting the payment system and leading to unauthorised access for approximately 50 students. The incident caused fee display abnormalities, prompting investigations and system enhancements.
Students and families must stress test repayment capacity based on Indian salary standards.
The Kerala Sports Department has submitted its confidential inquiry report regarding the controversy surrounding the proposed visit of football legend Lionel Messi and the Argentina team to the state during the previous government's tenure.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
Emirates NBD Bank has successfully acquired a 60 per cent majority stake in RBL Bank through a primary capital infusion of approximately USD 2.75 billion, marking the largest foreign direct investment in India's banking sector.
It, however, conceded that 20 per cent blending of ethanol with petrol leads to 3-5 per cent lower mileage in vehicles than conventional petrol, but said the blend offers a significantly higher octane rating, superior anti-knock properties, faster combustion, better pickup, smoother acceleration, and cleaner engine operation.
Finance Minister Nirmala Sitharaman met with bank heads to discuss the risks associated with Artificial Intelligence (AI) following global concerns about Anthropic's Mythos model and its potential threat to financial systems' data security.
'...A new challenge has emerged in the form of Mythos.'
Divestment has emerged as a priority for the government following a moderation in direct tax collections.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
Five masked gunmen robbed a Bank of Maharashtra branch in Singrauli, Madhya Pradesh, stealing gold and cash worth Rs 5.7 crore. One suspect has been arrested in Bihar.
The Indian banking sector is projected to experience a steady 9-13 per cent industrial credit growth in the first half of 2026, driven by capital expenditure, infrastructure development, and sectoral demand recovery, according to a Ficci-IBA survey.
Several Indian real estate companies, including BPTP Ltd and Smartworld Developers, are rethinking or shelving their initial public offering (IPO) plans, which were expected to raise around 15,000 crore, due to weaker housing demand, higher costs, and a more cautious investment climate.
'After that the burdens of an ageing population will be upon us, and the share of working age population will shrink.'
The Bureau of Indian Standards (BIS) is preparing to significantly increase its silver jewellery testing capabilities and expand its national laboratory network, driven by a shift in consumer demand from gold to silver and a broader push for enhanced product certification and surveillance.
'Applying AI to change the lives of Indians and at population scale -- just like we did with DPI [digital public infrastructure] -- is really where it's going to go.'
State-owned Life Insurance Corporation of India (LIC) has reported a net profit of over Rs 23,400 crore for the January-March quarter, making it the highest profit-making firm in the Indian financial sector during this period, surpassing major banks like SBI and HDFC Bank.
Parliament was informed that UPI has onboarded 55.49 crore users by June 2026, with transactions reaching 24,162 crore in volume and Rs 314 lakh crore in value in FY 2025-26. The platform, operated by NPCI, is expanding internationally through NIPL, facilitating cross-border payments and assisting other nations in building similar systems. Significant efforts are also underway by the Government, RBI, and NPCI to enhance the security and transparency of UPI transactions, including risk-based limits, security frameworks, and public awareness campaigns against cyber-crime.
The London High Court has rejected Nirav Modi's petition to reopen his extradition case, citing the Indian government's assurances regarding his treatment in India as a key factor in their decision.
State-owned enterprises in India are projected to significantly increase their overseas borrowings, potentially exceeding $15 billion in FY27, driven by the Reserve Bank of India's new concessional forex swap facility which offers a 3 per cent funding-cost advantage.
HDFC Bank's shares experienced a dip on Wednesday after a newspaper report alleged that the bank made illegal payments to the Maharashtra State Road Development Corporation to secure large deposits, raising concerns about corporate governance.
Finance Minister Nirmala Sitharaman convened a high-level meeting with bank heads to assess cybersecurity risks linked to advanced AI models, following concerns over Anthropic's Claude Mythos system and its potential impact on financial data security.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model and its potential threat to financial systems' data security.
"With the leverage available, I believe the scheme remains reasonably attractive," said P D Singh, India and South Asia Chief Executive Officer, Standard Chartered Bank, regarding the Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.
Tata Consultancy Services has partnered with French artificial intelligence firm Mistral to provide frontier grade AI solution, Mistral Forge, for enterprises across the world.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
In essence, Tata Sons will continue to be a CIC, whether registered or unregistered. It will have to follow the 90:60 principle.
If it qualifies as belonging to the upper layer, public listing will be one of the regulatory requirements. However, if it qualifies as 'unregistered CIC', it will escape from prudential regulation, explains Tamal Bandyopadhyay.
