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.
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.
'...A new challenge has emerged in the form of Mythos.'
'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.
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.
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.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
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.
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.
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.
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.
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.
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 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.
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.
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.
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
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.
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
Dell Technologies is significantly expanding its domestic manufacturing in India, with a majority of its servers now produced locally, driven by data sovereignty and AI adoption. The company also launched new AI infrastructure solutions, including PowerStore Elite, designed for secure on-premises data management and AI workflows, while asserting that AI creates more jobs.
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
The Indian economy is growing at a robust pace, driven by strong domestic demand, low inflation, and the healthy balance sheets of banks, said a Reserve Bank report released on Wednesday.
State Bank of India Chairman C S Setty has expressed support for a 'pause' in policy rates by the Reserve Bank of India's monetary policy committee, believing it will help stabilise conditions and support economic growth. He also urged investors to look beyond short-term equity market movements and focus on India's structural transformation, driven by reforms and digital infrastructure.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Investors should do thorough due diligence when selecting a platform.
India's mutual fund industry has significantly increased its share of public trading in the stock market, widening its lead over the Life Insurance Corporation of India (LIC) for the fifth consecutive year. While LIC's share of free-float listed shares has fallen to 7.42% as of March 2026, the mutual fund industry's share has surged to 22.92% from 7.06% in 2012.
'In the last one year, we have added more than Rs 1.7 trillion, and we are on track.'
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
Despite geopolitical tensions and FII outflows, Indian small and midcap stocks have not only recovered losses but are also outperforming largecap indices, driven by attractive valuations, domestic institutional support, and a rebound in earnings.
Indian benchmark equity indices, Sensex and Nifty, ended lower after a five-day rally, with the Sensex dropping 607 points and the Nifty falling to 24,013.10. The decline was primarily driven by heavy selling in IT firms following Accenture's trimmed revenue guidance and renewed geopolitical uncertainty, specifically the postponement of US-Iran negotiations.
Batting for further consolidation in public sector banking, the executives of top public sector banks (PSBs) said there should be at least two Indian banking entities among the top 20 global banks.
The Indian stock market mythos of 36 years is wrapped in a diaphanous negligee, lashed together by a delicate, etheric sash of 1.6 bull markets. To make money from here on will require a ground invasion, trench by trench, rather than carpet bombing. Way more difficult, points out Shankar Sharma.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
'India is often skipping legacy cycles and moving directly to advanced AI-driven operations.'
