RBI took 79 enforcement actions against banks, NBFCs in FY25: FACE
 

Govt notifies Banking Laws (Amendment) Act 2024; four nominees now allowed per account
 

ICICI Bank joins peers in cutting savings account interest rates
ICICI Bank cuts savings account rates by 25 bps
The Financial Express

SBI, HDFC only Indian banks in world's 100 largest by assets: S&P Global Market Intelligence

New Delhi: State Bank of India and HDFC Bank are the only Indian banks that have found its place on the latest S&P Global Market Intelligence ranking of the world's 100 largest banks by assets.

Lower loss due to derivatives portfolio discrepancies ‘positive’ for IndusInd Bank in near term, says Macquarie
 

RBI cancels licence of Ahmedabad-based Colour Merchants Co-op Bank
The Reserve Bank on Wednesday said it has cancelled the licence of Ahmedabad-based 'Colour Merchants Co-operative Bank' as the lender does not have adequate capital and earning prospects.

JPMorgan Chase Bank India to expand presence in startup banking, says CEO Chawda
Mumbai: JPMorgan Chase Bank India is looking to expand its startup banking segment to include over 100 companies in the coming years, a senior executive said, as it looks to deepen its presence in India’s high-growth technology companies.

Choose the right credit card through Bajaj Markets
Pune (Maharashtra): Bajaj Markets, a leading digital financial marketplace, is helping individuals find savings-driven payment solutions. It addresses this need with a digital-first experience that helps users compare and apply for credit cards based on their requirements. Hosting a wide range of options from leading issuers, this marketplace helps compare benefits and fees of 30+ cards.

Indian Railways pioneers onboard ATMs in a first for passenger convenience
 

Vivriti Capital launches offshore credit-guaranteed NCDs
The transaction, one of the few guaranteed bond transactions by an offshore development finance institution in India, is backed by a structured credit enhancement mechanism, wherein GuarantCo’s maximum guarantee cover is initially 65 per cent of the principal value of the NCD.

KFin Technologies to acquire Singapore’s Ascent Fund Services for $34.7 million
KFin Technologies Limited announced today that its Board of Directors has approved the acquisition of Singapore-based Ascent Fund Services Pte Ltd, marking a significant expansion in the global fund administration sector.

Paytm founder settles Sebi case, returns 21 million Esops
Paytm’s Vijay Shekhar Sharma foregoes 2.1 crore ESOPs amid SEBI scrutiny
The Financial Express

UPI outages: NPCI, banks working on durable solution to plug gaps
 

DLAI rebrands itself to Unified Fintech Forum as it pursues SRO bid
 

NSE’s investor base has almost tripled since it sped up share transfers in late March
A flurry of activity in unlisted NSE shares has nearly tripled the investor base of India's largest stock exchange since it expedited the process of transferring shares between counterparties on 24 March, according to a regulatory circular. The easing is a precursor to a listing of the stock exchange. NSE applied for a no-objection certificate for its IPO with Sebi last August and is still awaiting approval.

Nippon India Mutual Fund expands digital partnership with Adobe
New Delhi: Nippon India Mutual Fund (NIMF) has expanded its strategic partnership with Adobe to enhance its digital investor experience. By leveraging Adobe’s generative AI-powered content and digital asset management system, Adobe Experience Manager (AEM) Sites and AEM Assets, NIMF aims to create a more personalised, e-commerce-like, persona-driven journey for investors across its website and mobile app. NIMF’s digital transformation efforts focus on improving investor engagement through dynamic content delivery, streamlined asset management, and an omni-channel experience. AEM Sites will deliver tailored content across web and mobile platforms, while AEM Assets will optimise media management workflows, maintaining brand consistency and accelerating time to market. The company aims to reduce bounce rates and significantly increase website conversions.

Arpanarghya Saha, Chief Digital Officer at NIMF, emphasised the importance of digital innovation to enhance investor experiences. “As investors increasingly engage via digital channels, our partnership with Adobe enables us to create personalised, seamless interactions,” he said.

MFs pare holdings in IndusInd; FPIs, retail investors add
Mutual funds have cut their exposure to IndusInd Bank to 27.55% in the January-March quarter, from 30.31% in the October-December quarter. Promoter shareholding, too, saw a marginal decline to 15.83% from 16.29%, according to the latest shareholding data on the BSE.

Market sell-off, year-end fund crunch force more MF investors to discontinue SIPs