Top Indian Banking Industry News & Updates - 03 April 2025,Thursday
🗎 RBI / MoF / Govt. Policies
RBI mandate expands beyond traditional roles, says Governor Sanjay Malhotra
RBI governor Sanjay Malhotra on Tuesday said that the role of the regulator has expanded beyond its initial mandate.
Credit to MSMEs under PMMY is estimated to have more than trebled to ₹30 lakh cr in 10 years: SBI Research
Mumbai: In the decade since its launch, cumulatively more than 52 crore accounts have been opened under the Pradhan Mantri MUDRA (Micro Units Development and Refinancing Agency) Yojana/ PMMY for providing collateral-free and adequate access to finance for MSMEs, per a SBI report. The credit to the segment estimated to have more than trebled to about ₹30 lakh crore in the last 10 years.
RBI appoints Poonam Gupta as deputy guv to steer monetary policy
From thought to action: Poonam Gupta brings vision to RBI as deputy governor
The Financial Express
Poonam Gupta: Deputy RBI governor's focus could be liquidity conundrum
📝 RBI may need to roll over net short positions to keep liquidity
📝 RBI cash injections help wipe out record India cash crunch
Read More >>
🏦 PSB / Pvt Banks
SBI seeks fintech partners to help customers print their own debit cards
Mumbai: India’s largest lender State Bank of India (SBI) is scouting for fintechs which can help it gain an edge over competitors with debt card solutions, including an option for customers to print their own cards at kiosks.
PNB, CSB and several banks see credit growth outpace deposits in Q4
State-owned Punjab National Bank on Wednesday said its deposits grew by 13.3 per cent year-on-year (Y-o-Y) to ₹13.3 trillion while its advances grew 13.2 per cent Y-o-Y to ₹9.42 trillion during the fourth quarter of financial year 2025 (Q4FY25). Sequentially, advances grew 2.4 per cent, while deposits grew by 1.7 per cent, the bank said in its quarterly update.
📝 Deposit rate cuts start trickling in at lenders
📝 Deposit growth lags credit in March quarter
📝 IndusInd auditors on derivative valuation: From 'key matter' to silence
📝 Punjab National Bank reports 13.6% loan growth in Q4
📝 South Indian Bank reports 10% advances growth, 5.5% deposit growth
📝 IDFC FIRST Bank authorised by CPAO for pension disbursement
📝 PSU bank stocks sink up to 12%; Central Bank of India, Punjab & Sind Bank, IOB lead losses
📝 Zelio E Mobility partners with Kotak Mahindra Bank to offer financing for e-scooters
📝 HDFC, IDFC First, Stock Holding Corp designated as corporate agents in GIFT City; allowed to sell insurance products
📝 Sebi issues warning letter to HDFC Bank for regulatory non-compliance
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🏦 Co-operative Banks / RRBs
Ashok Leyland joins hands with Nagaland Rural Bank for customised vehicle financing solutions
Ashok Leyland and Nagaland Rural Bank have signed a memorandum of understanding (MoU) to offer customised vehicle financing solutions to customers in Nagaland.
UP Co-operative Bank outpaces commercial lenders in loans, advances
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💳 ATMs / Credit Cards
Bank of Maharashtra and Customer Capital launch loyalty travel platform for its cardholders
📝 Visa bids $100 million to replace Mastercard as Apple's new credit card partner: Report
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🔍 Rating / Research
Credit ratio: Crisil Ratings, ICRA see decline in H2 FY25 while CareEdge Ratings records rise
Mumbai: The credit ratio (the number of rating upgrades to number of downgrades) declined for Crisil Ratings and ICRA in the second half (H2) of FY25 vis-à-vis first half (H1) even as it strengthened for CareEdge Ratings.
ECL Finance names Ajay Khurana MD; Moody's upgrades Muthoot rating
ECL Finance appoints Ajay Khurana as managing director
Muthoottu Mini Financiers gets credit rating upgrade from ICRA
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🗎 NBFCs / FIs / MFI
📝 Investors shrug off Microfin worries in rebound bet
📝 Kotak targets $2 billion for new private credit fund to lend to businesses
📝 Turnaround specialist Mutares planning $250 mn India fund
📝 New team, fresh funds give Manappuram extra shine
📝 Shriram Finance shares in focus after RBI approves 100% stake acquisition in Shriram Investments Holdings
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UPIs / Wallet / FinTech
UPI faces second outage in a week, disrupting transactions
UPI down: SBI, GPay, Paytm, and other UPI app users are facing payment issues
The Financial Express
NPCI appoints industry veteran Rajola as executive director of growth
📝 Lenders say AI to fintech startups for debt collection
📝 NPCI expands AI use to enhance customer safety in digital transactions
📝 UPI transaction volumes surge 42 pc, hit 93 billion in July-Dec 2024
📝 NPCI, banks tie up to curb fraud in UPI
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🗠 Bourses
📝 Sebi grants extension to NSDL to launch IPO till July 31
📝 Sebi fines Rs 5.2 cr on OPG Securities, others in NSE co-location case
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🗠 Mutual Funds / AMCs
Tata small cap fund: Targeting growth at reasonable valuations
Tata Small Cap Fund is a growth-oriented scheme in the Small Cap Fund category that has exhibited a noteworthy track record since its inception and has outpaced many of its prominent peers, thereby rewarding investors with superior risk-adjusted returns.
Kotak Alternate Asset targets $ 2 bn for new private credit fund
Kotak Alternate Asset Managers aims to raise up to $2 billion for a new private credit fund to tap the growing demand for such products in India, according to its Chief Executive Officer. The fund will offer a range of financing options, including acquisition funding, equity-backed loans and annuity assets that generate steady cash flow, said Lakshmi lyer. "We're seeking an investment return in the 18%-20% range," she said."Structured credit instruments will be the underlying,with tenures ranging from four to seven years.
HDFC MF opens WhatsApp-based investment avenue
Understanding the difference between RD and Mutual Funds: A complete guide
📝 Kotak Mutual Fund launches energy opportunities fund
📝 Investors flocking to Gold ETFs amid escalating geopolitical tensions and surge in gold prices: ICRA Analytics
📝 There’s surplus liquidity in the system but why is it not reflecting in credit growth? Devang Shah answers
Read More >>
🗎 Equities, Pvt. Equity / Hedge Funds
Venture debt market to touch $5 billlion in five years: Stride Ventures
The domestic venture debt market is likely to grow around 4x from $1.23 billion in 2024 to $5 billion in the next five years, according to Ishpreet Singh Gandhi, founder and managing partner of Stride Ventures.
Tax harvesting drives biggest domestic equities selloff by retail investor
📝 Swedish PE firm EQT plans Rs 4,000 crore IPO for Straive
📝 Sebi’s REIT, InvIT reforms to boost liquidity, strengthen investor trust
Read More >>
🗎 Govt. Securities / Bonds
Sovereign Gold Bonds: How much govt owes to SGB holders for 130 tonnes gold?
When the government launched the Sovereign Gold Bond (SGB) scheme, it seemed like a great scheme. Investors got great returns, but it turned out to be a loss-making deal for the government. Due to rising gold prices, investors made profits, but a huge financial burden increased on the government. Perhaps the government took Indians’ love for gold lightly and this became its biggest mistake.
RBI’s OMO auctions boost G-Sec market, yields fall sharply
The Government Securities (G-Sec) market was buoyed on Wednesday, the first trading session of the current financial year, due to the surprise RBI announcement that it will conduct four open market operation (OMO) purchase auctions of these Securities this month
RBI's surprise bond buy plan to improve cash condition
Mumbai: The Reserve Bank of India's (RBI) unexpected move to buy ₹8 lakh crore ($9.34 billion) of bonds this month is expected to lift the banking system's liquidity further, giving the market more certainty around cash conditions. The announcement of the open market operations (OMO), to be done in four equal tranches in April, was made late on Tuesday.
Why India’s 10-year bond yields declined sharply ahead of RBI policy review
India has a re-rethink on green bonds. And a new strategy.
📝 Piramal Finance raises over Rs 2,300 crore via ECB route
📝 Benchmark yield softens 5 Bps to 6.52%
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✈ International
Japan’s bank shares plunge as tariffs hurt BOJ rate hike outlook
A measure of Japanese bank shares plunged more than 7%, the most since August, as worries about the impact of harsher-than-expected US tariffs on Japan’s economy fueled bets the central bank may pause rate hikes.
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