India in virtuous cycle of growth & stability: RBI DG
The Indian economy, with its macroeconomic stability, policy consistency, and a large and diversified demand and production base, is assured of a continuously improving economic trajectory, Reserve Bank of India Deputy Governor Poonam Gupta said on Tuesday, asserting that high, stable and accelerating growth has become the hallmark of India’s economic journey.

RBI's push to curb mis-selling by banks may put life insurers in the cross hairs
On 11 February, the Reserve Bank of India released draft guidelines that seek to make banks more accountable for the financial products they sell to individuals. The guidelines aim to prevent banks from mis-selling various financial products, especially life insurance plans that double up as investments. Finance minister Nirmala Sitharaman supported the RBI’s move, calling mis-selling an offence.

RBI launches March 2026 round of rural, urban consumer confidence surveys
Mumbai:  Reserve Bank of India (RBI) has launched March 2026 round of the Rural and Urban Consumer Confidence Survey. The RBI has been regularly conducting such Surveys.

RBI likely selling dollars to limit rupee's fall, traders say
Mumbai: The ‌Indian central ​bank ⁠was likely selling US ‌dollars ‌on ‌Tuesday ⁠to ⁠prevent the rupee ​from falling ‌past the psychologically important 91-per-dollar ‌mark, three ​traders told ⁠Reuters.

Banks grapple with changing savings behaviour
The deepening of financial markets, along with increased financial literacy and quick access to bank savings through digital channels, has fuelled a gradual shift of bank deposits into alternative investments, including mutual funds, equities, bonds, small savings, G-secs, gold, silver, real estate, and derivatives.

PSBs up their game on credit underwriting, ensuring lower slippages
Mumbai: Public sector banks (PSBs) have upped their game on credit underwriting front, stemming fresh slippages, whereas private sector banks (PvSBs) appear to be lagging in this area.

Banks up scrutiny on large value branch transaction post IDFC First Bank fiasco
Mumbai: Lenders have raised scrutiny over branch generated, high-value cheque based transactions, after IDFC First Bank reported a material ₹590 crore fraud from its single Chandigrah branch last week, senior bankers say.

Fraud-hit IDFC First Bank share price rises 3% after it pays ₹583 crore to Haryana govt
After an over 16% crash in the previous session, IDFC First bank share price rose 3% on Tuesday, February 24 after the lender said it had paid the entire principal and interest amount claimed by departments of the Haryana government, even as the investigation into the matter remains ongoing. The bank disclosed that the total payout stood at ₹583 crore, underscoring its commitment to customer-first principles and ethical banking practices.

Got a text message to redeem SBI reward points? Govt says it's a scam
 

DFS secretary encourages composite salary package to boost PSU banks' CASA
 

IDFC First Bank, AU Small Finance Bank: How do these stocks look on charts?
 

All funds lost in IDFC First Bank fraud recovered, says Haryana CM
 

IDFC First Bank fraud case: FIR registered, Haryana ACB begins probe
 

JPMorgan Chase CEO says some financial firms doing ‘dumb things’ to make money, likens situation to pre-2008 era
JPMorgan Chase CEO Jamie Dimon said on Monday that some financial firms were doing “dumb things” as he outlined his strategy for navigating the investment market in conditions he said reminded him of the pre-2008 crisis years. Speaking at an annual investor update meet, Dimon said the credit cycle is full of surprises.

RBI could rebuild reserves with dollar buys if rupee gains, says Citi
Source Credit: Bloomberg, Bhaskar Dutta and Subhadip Sircar, Business Standard

India’s central bank is likely to start buying dollars to bolster its foreign-exchange reserves once the rupee strengthens to around 88—89 per dollar, according to Citigroup Inc.’s local markets head.

SMBC carves out India as standalone global vertical

Mumbai: The World's 14th largest bank, Sumitomo Mitsui Banking Corporation (SMBC), with total assets of $2 trillion, has carved out India as an independent regional division. It is the first time in the bank’s global structure that a single country has been elevated to this status, reflecting India’s rising strategic importance.

MSMEs record improving trend in access to credit in Q3FY26: SIDBI Survey
New Delhi: The Small Industries Development Bank of India (SIDBI) on Tuesday unveiled the fifth round of its quarterly MSME Outlook Survey for the October-December 2025 quarter, highlighting sequential stability in MSME confidence despite persistent external risks.

ADB partners with Aavas Financiers to expand affordable housing, MSME lending in India
New Delhi: The Asian Development Bank (ADB) has signed a senior secured debt financing package of up to USD 108 million (in Indian rupee equivalent) with Aavas Financiers Limited to expand access to affordable housing loans for lower-income households and business loans for micro, small, and medium-sized enterprises (MSMEs) in underserved states across India.

Credit card spends dip slightly in January; issuances rise to 116.6 mn
 

New-to-credit borrower share shrinks in Q3: Report
The share of new-to-credit (NTC) borrowers dropped year-on-year across loan products, barring the consumer durable segment, for the October–December quarter, a report said on Tuesday.

TransUnion CIBIL and SBI YONO app collaborate to integrate credit score and report services
New Delhi: TransUnion CIBIL and State Bank of India's YONO app have collaborated to integrate the CIBIL score and report into the bank's everyday digital banking platform, according to a TransUnion CIBIL release. The integration allows SBI YONO customers to access and monitor their credit information, including report analysis and score simulator features, directly through the application.

Kissht’s NBFC arm gets Crisil rating upgrade
Crisil Ratings has upgraded the credit rating of Si Creva Capital Services, the wholly-owned NBFC subsidiary of Kissht, operated by Onemi Technologies.

Unstable, too broad: New GDP series won’t use UPI transaction data
The Ministry of Statistics and Programme Implementation (MoSPI) will not use Unified Payments Interface (UPI) transaction data to calculate India’s GDP in the new revised series that will be released this week due to the numbers being unstable and certain payment categories being too broad.

Bharti Airtel share price drops 4% on NBFC expansion plans; biggest intraday fall in 3 months
The drop in profit could be attributed largely to a high base in the year-ago period, when the company reported a net exceptional gain of ₹7,546 crore following the reclassification of Indus Towers from an associate company to its subsidiary, while also increasing the provision for gratuity and compensated absences amounting to ₹257 crore.

Muthoot Microfin to cut joint liability group loans to 65% of portfolio
Muthoot Microfin is looking to bring down the share of microfinance joint liability group (JLG) loans to 65% of its portfolio from 85% as part of its asset diversification strategy. It will focus on high-quality individual loans and secured products such as loan against property and gold loans.

Personal Loan vs Credit Card borrowing: Making smarter short-term financial choices

Both options offer quick access to funds, but they serve different financial needs. Let's break down how they compare and when opting for a fast personal loan or using a credit card makes better financial sense.

NBFCs in "sweet spot", says Kotak Inst, sees stronger loan growth in FY27
 

From locker to loans: 90% surge in gold financing leads India's credit boom
 

Paytm launches savings in Silver on its app
One 97 Communications Ltd has launched Paytm Silver to enable savings in silver through the Paytm app. The new product is aimed at expanding access to asset based savings.

Banks' CD borrowings surge; issuance, outstanding at all-time highs
 

Crypto markets reel under broad-based selloff amid geopolitical tensions
New Delhi: Cryptocurrency markets witnessed heightened volatility on Tuesday, February 24, amid rising geopolitical tensions and shifting macroeconomic conditions, with popular assets Bitcoin and Ethereum struggling at key levels.

ICICI Pru AMC bucks market trend; stock rallies 5% in 2 days, hits new high
Share price of ICICI Prudential Asset Management Company (AMC) hit a new high of ₹3,174.30, gaining 1 per cent on the BSE in Tuesday’s intra-day trade, bucking the weak market trend. In the past two trading days, the stock rallied 5 per cent.

Kotak Mahindra AMC crosses Rs 6L cr in AUM
Kotak Mahindra AMC has crossed the milestone of Rs 6 lakh crore in its assets under management (AUM).

IT sell-off on generative AI fears hits LIC, mutual funds with 20% notional loss
 

Global PE firms line up for IndiaRF’s Synthimed Labs in $150-200 million deal
Mumbai : A clutch of global private equity firms, including General Atlantic, KKR and CVC Capital Partners among others, are evaluating a minority stake in India Resurgence Fund-backed Synthimed Labs Pvt. Ltd (SLPL), as the pharmaceutical ingredients maker prepares for a public listing, three people familiar with the matter said.

“IndiaRF will sell a minority stake to raise $150-200 million as the company prepares for an IPO,” one of the people cited above. Several funds were tapped as a part of the process, a second person said.

In December, Mint first reported that IndiaRF has mandated Rothschild to help scout for buyers for the portfolio company that is seeking a valuation of about $1 billion.

The stake sale underscores rising investor appetite for scaled API platforms with export-heavy books, especially as India’s pharma supply chain strengthens its position in regulated markets and private equity firms seek pre-IPO opportunities in defensible healthcare assets.

“The exact amount of the ongoing fundraise is contingent to an acquisition that Synthimed is evaluating,” a third person said. “If the acquisition goes as planned, the round may potentially become larger with a primary capital infusion. India RF, which is the majority shareholder in the company, may also consider other financing options including debt if the acquisition were to happen,” the person added.

General Atlantic, IndiaRF, and Rothschild declined to comment while Synthimed, KKR, and CVC did not respond to Mint’s requests for a comment till the time of publishing.

Portfolio bet
The development comes nearly three years after IndiaRF acquired the carved-out generic active pharmaceutical ingredients (API) and contract research and manufacturing services (CRAMS) business of Ind-Swift Laboratories Ltd in March 2024 for a total consideration of ₹1,650 crore. The operations were subsequently housed under its portfolio company, SLPL.

IndiaRF, a joint venture between the Piramal Group and Bain Capital, was founded about a decade ago and invested in the company through its first fund, which had a corpus of $629 million. Its other investments include multi-speciality hospital chain Ivy Group, hospitality chain Impresario Entertainment, auto components maker Setco Automotive, and the Thrissur Expressway road infrastructure project.

The investment firm is currently in the process of raising its second fund, from which it has already made an investment in Anthea Aromatics, a specialty aroma chemicals manufacturer.

API focus
Incorporated on 25 July 2023, SLPL is a special purpose vehicle promoted by IndiaRF. The company manufactures APIs, advanced intermediates and offers CRAMS services to several domestic pharmaceutical companies. It claims to be among the top standalone merchants in the API segment, a critical component of India’s pharmaceutical industry.

As of May 2025, India remains the world’s largest supplier of generic medicines, accounting for 20% of global supply, according to a report by the India Brand Equity Foundation (IBEF).

The report added that India also plays a key role in affordable vaccine supply, providing 55–60% of UNICEF’s vaccines, 99% of the World Health Organization’s DPT vaccine demand, 52% of BCG vaccines and 45% of measles vaccines. This growth has also created significant employment opportunities across manufacturing and research. These factors are expected to enable India’s pharmaceutical exports to grow 10–15 times to nearly $350 billion by 2047, Bain & Co said in a separate report.

Based in Chandigarh, SLPL operates manufacturing blocks with a total reactor capacity of over 700 kilolitres, spread across three locations—Derabassi in Punjab and Samba in Jammu—along with an R&D centre in Mohali, Punjab.

The company has an established presence in manufacturing APIs related to cardiovascular health, antihistamines, antidiabetics, antipsychotics, anti-migraine drugs, Parkinson’s disease, antineoplastics, ADHD symptoms, analgesics, alcohol abstinence therapies and bone resorption inhibitors.

Export-heavy mix
SLPL caters to more than 1,000 customers across over 70 countries globally. Around 86% of its turnover comes from exports, with the remainder from the domestic market, resulting in a well-diversified geographical mix. Its operations span both regulated and semi-regulated markets.

In FY25, the company reported revenue of ₹1,452 crore, up from ₹1,197 crore a year earlier. Ebitda improved to ₹469 crore from ₹305 crore in FY24, according to a report by India Ratings.

Corporate bond funds: Overlook recent outflows, invest with 3-5-yr horizon
 

At least 13 municipal bond issues in pipeline; two ₹1,000 cr plans ahead
 

SGB premature redemption dates from April-Sept 2026: Check details