Indian Banking Industry News & Updates
FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive
New Delhi: Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) on Monday to review the progress of the foreign currency deposit mobilisation campaign being undertaken by the lenders.
HDFC Bank's workforce drops by over 3,300 amid push to automate operations
HDFC Bank Ltd.’s workforce declined by 3,343 employees in the financial year ended March as India’s largest private lender accelerated efforts to automate operations and redeploy staff to customer-facing roles.
Indian Bank targets $2 billion mobilization through FCNR(B) deposits: MD & CEO Binod Kumar
State-owned Indian Bank is targeting $2 billion in foreign currency deposits under the Reserve Bank of India's (RBI) special FCNR(B) deposit window, with $140 million already achieved, said managing director and chief executive officer Binod Kumar in an interview. The key challenge is pricing, not demand for foreign currency, and banks should support RBI's objective of attracting dollar inflows, even on a ‘no-profit, no-loss’ basis if required.
El-Nino, below normal monsoon pose risk for growth, inflation outlook in FY27: HDFC Bank MD
The global macroeconomic environment remained challenging as the lingering impact of the West Asia conflict could weigh on global growth & inflation and the turn towards monetary tightening by major central banks remained a risk for global liquidity and growth, said India’s biggest private sector bank HDFC Bank’s MD & CEO Sashidhar Jagdishan in his message for shareholders in the bank’s latest annual report which was released on Saturday (July 11, 2026).
SBI Funds raises Rs 1,880 crore in pre-IPO placement
SBI Funds, investment manager of India’s biggest fund house SBI Mutual Funds, shared in a disclosure to BSE that it entered pre-IPO purchase transactions of Rs 1,655 crore with 30 investors. The company disclosed that it entered in purchase agreements to sell 28.83 million shares, an equivalent of 1.4156% of its pre-offer share capital, of face value Rs 1 per equity share at the price of Rs 574, the higher end of its IPO price band of Rs 545-574. These shares were sold by the promoter State Bank of India.
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