Top Indian Banking Industry News & Updates - 02 April 2025,Wednesday
🗎 RBI / MoF / Govt. Policies
Fiscal constraints not behind capex revision: Finance Minister
The Centre’s capital expenditure has grown exponentially since FY21 and gone up in FY25 as well, despite the reduction in the revised estimate due to factors beyond the government’s control, such as general elections and extreme weather events.
RBI to be ‘proactive, agile and flexible’ to bolster economic growth: Governor Malhotra
Reserve Bank of India Governor Sanjay Malhotra said that the monetary authority will be “proactive, agile and flexible” to bolster growth in Asia’s third-largest economy. “Policymaking has to be both pragmatic and visionary for India’s growth to leapfrog,” said Malhotra. The RBI will “continue” its attempt to support economic growth, he added, just days before the RBI is set to announce its rate decision on April 9.
The next decade will be crucial in shaping India’s financial architecture: RBI Guv Malhotra
Mumbai: The Reserve Bank of India (RBI) stands at the confluence of tradition and transformation, where the imperatives of price stability, financial stability and economic growth intersect with rapid technological advancements, global uncertainties, climate change challenges and increasing public expectations, according to Governor Sanjay Malhotra.
RBI among most critically important institutions in India, President Murmu says
Mumbai: The Reserve Bank of India (RBI) has been at the centre of India’s growth story since it’s inception in 1935 and has emerged as one of the most critically important institutions in the nation, President Droupadi Murmu said at the RBI’s 90th anniversary commemoration ceremony today. “I have no hesitation in saying that the RBI has emerged as one of the most critically important institutions in the nation. Is it not less than a miracle that a piece of paper becomes fiat money when it bears the RBI governor’s signature?” she said.
RBI's rate-cut cycle may extend if growth weakens: ANZ Group
FinMin to hold review meeting with banks on Thursday on govt schemes
RBI tells banks to continue joint account for surviving spouse's pension
RBI committed to bolster consumer protection: Governor
‘RBI at the very centre of country’s incredible growth story’: President Droupadi Murmu
📝 RBI cash injections help wipe out worst-ever India cash crunch
📝 Like Shaktikanta Das, RBI's new boss Sanjay Malhotra is also championing 'goldilocks balance' between inflation & growth
📝 RBI says 98.21 pc of Rs 2000 banknotes returned
📝 RBI@90 looks to the future, also vows to deepen financial inclusion
📝 RBI committed to financial inclusion, balance stability with efficiency says governor Malhotra
📝 RBI says banks must pay uniform interest rates
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🏦 PSB / Pvt Banks
Why are SBI services down? Customers complain of disruptions in mobile banking, fund transfers
State Bank of India (SBI) on Tuesday (April 1) announced that due to its annual closing activities today the bank’s digital services will be unavailable for a period of three hours. This scheduled closure of SBI’s digital banking services has impacted thousands of users nationwide.
These 9 banking stocks can give more than 27% returns in 1 year, according to analysts
Given that banking is one of the sectors where FPIs have high exposure, bank stocks will certainly come under pressure if there is another round of selling. But that is for the short term. There is another, longer-term side to the story.
Credit growth may further moderate in FY26
After moderating in 2024-25, banks’ credit growth is expected to slow further in 2025-26 as they take a cautious stance on unsecured loans. According to Reserve Bank of India (RBI) data, the credit growth eased to 11.13% in FY25, with outstanding bank credit reaching Rs 181.29 lakh crore as of March 7. This marks a significant slowdown from the 20.18% expansion in FY24.
📝 Fixed deposits continue to grow more than CASA deposits in Karur Vysya Bank, CSB Bank
📝 ICICI Bank to exit from ICICI Merchant Services Pvt Ltd
📝 SBI outage: Users report online banking and UPI service issues
📝 EPFO expands empanelled banking network, adds 15 more banks
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🏦 Foreign Banks / FIIs / I-Banks
📝 UBS completes merger of Credit Suisse Service Company entities in India
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🏠 Housing Finance
Supreme Court upholds Piramal’s resolution plan for DHFL, grants it proceeds of funds recovered
The Supreme Court on Tuesday ruled that funds recovered from the fraudulent transactions at Dewan Housing Finance Corporation Ltd (DHFL) will go to Piramal Capital & Housing Finance Ltd, the successful resolution applicant for the bankrupt company.
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💳 ATMs / Credit Cards
📝 Salila Pande takes charge as MD and CEO of SBI Card
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🔍 Rating / Research
Banks’ loans to grow at 12-13% in FY26: Rating agencies
📝 Global trade war, US tariffs could cut bank profits by 25 bps in FY26: ICRA
📝 Rating firms flag supply chain woes and currency, yield volatility
📝 'Credit rating upgrades beat downgrades'
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🗎 NBFCs / FIs / MFI
Arya.ag’s NBFC tops Rs 2,000-crore mark in commodity financing
Bengaluru: Grain commerce platform Arya.ag said on Tuesday its non-banking financial company (NBFC) arm has crossed the ₹2,000 crore figure in commodity finance. The achievement marks a significant advancement in rural finance, the company said.
RBI’s new loan limits to boost affordable housing opportunities, say bank officials
Former Federal Bank CEO Shyam Srinivasan joins TVS Capital Funds as Senior Advisor
TVS Capital Funds (TCF) has appointed former Federal Bank CEO Shyam Srinivasan as a Senior Advisor and Operating Partner. With over three decades of experience in banking and financial services, Srinivasan brings strategic expertise in institutional growth, digital transformation, and financial governance. As the Managing Director and CEO of Federal Bank for 14 years, he spearheaded the bank’s national expansion, advanced its digital banking capabilities, and strengthened asset quality.
Karnataka’s organised microfinance sector grapples as defaults surges post new ordinance
Karnataka’s organised microfinance institutions (MFIs) are grappling with the fallout from recent suicides, as their cumulative loan books have contracted from ₹42,000 crore in March 2024 to ₹34,000 crore managed by MFIs, excluding microfinance loan books reflected in banks’ by December 2024.
📝 MFI loans down 41 per cent in December quarter, NPAs zoom
📝 Microfinance companies target larger loans for better asset quality
📝 EV finance company charged up over electric commercial vehicles
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UPIs / Wallet / FinTech
UPI transaction value hits record high of ₹24.77 lakh crore in March: NPCI
📝 Banks face intermittent transaction declines; NPCI attributes disruption to financial year-end closure
📝 Investors can store, access demat account, mutual fund documents in DigiLocker
📝 Paytm shares in focus after NSE, BSE issue cautionary notice
📝 Paytm Launches Travel Pass Subscription
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🧔 Brokers / Distributors
📝 Anand Rathi Share and Stock Brokers refiles DRHP with SEBI for Rs 745 crore IPO
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🗠 Bourses
📝 Sebi grants extension to NSDL to launch its Rs 3,000-crore IPO by July
📝 Sebi extends deadline for retail algo trading rules implementation
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🗠 Mutual Funds / AMCs
HDFC Mutual Fund leverages WhatsApp to ease online investment process
The fund house recently launched an industry-first initiative, 'Tap2Invest', an investment app-like interface on WhatsApp that allows investors to put in lumpsum amounts or start a systematic investment plan (SIP) in any of HDFC MF's schemes.
📝 Kotak Mutual Fund receive less than 1,000 investor complaints in FY25 : Nilesh Shah
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🗎 Govt. Securities / Bonds
Govt issues 67 tranches of Sovereign Gold Bonds till FY25
The government has issued a total of 67 tranches of Sovereign Gold Bonds (SGBs) amounting to 146.96 tonnes of gold till 2024-25, Parliament was informed on Tuesday.
RBI to conduct 4 open market operation purchase auctions of G-Secs of ₹20,000 cr each in April
Mumbai: The Reserve Bank of India (RBI) has decided to conduct four open market operation (OMO) purchase auctions of Government Securities (G-Secs) aggregating ₹80,000 crore this month even as the system liquidity has turned into a surplus. On a review of current and evolving liquidity conditions, the Reserve Bank has decided to conduct OMO purchase auctions of G-Secs in four tranches of ₹20,000 crore each to be held on April 03, 2025, April 08, 2025, April 22, 2025, and April 29, 2025.
📝 RBI plans OMO of Rs 80,000 crore in April
📝 Treasury heads urge RBI to lower CRR, ensure surplus liquidity
📝 Sebi mulls rating of municipal bonds on expected loss-based rating scale
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