Top Indian Banking Industry News & Updates - 03 March 2026,Tuesday
🗎 RBI / MoF / Govt. Policies
RBI and BoJ sign Bilateral Swap Arrangement for up to $75 billion
The Reserve Bank of India (RBI) and the Bank of Japan (BoJ) — which is acting as the agent for the Minister of Finance, Japan— have signed the third Amendment and Restatement Agreement of the Bilateral Swap Arrangement (BSA) for up to 75 billion US Dollars.
CAD widens to 1.3% in Q3, reserves shrink by $24.4-bn
India’s current account deficit (CAD) increased to $13.2 billion or 1.3% of the gross domestic product in Q3 2025-26 from $11.3 billion (1.1%) in the year-ago period mainly due to a higher merchandise trade deficit, according to data released by the Reserve Bank of India (RBI) on Monday.
RBI processes 99.8% of Citizen’s Charter applications within timeline in February
98.44% of ₹2,000 notes returned, says RBI
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🏦 PSB / Pvt Banks
IOB may seek more time to lower govt shareholding to 75%
State-owned lender Indian Overseas Bank may seek additional time to comply with the regulatory requirement of bringing down the government’s stake to 75% by August 1, as the bank plans a calibrated dilution through market issuances.
SBI DMD Nitin Chugh exits as contract term ends, digital role concludes
State Bank of India (SBI) on Monday said Nitin Chugh, Deputy Managing Director in charge of digital banking and transformation, has been relieved of his duties effective March 2 following the conclusion of his contract with the bank.
Fino Payments Bank share price plunges 20% in two sessions; here's why
Fino Payments Bank share price declined over 14 per cent on Monday, extending its losses into a second straight session, after the arrest of the bank's Managing Director and Chief Executive Officer (CEO), Rishi Gupta.
Fino PB sees no uncertainty over SFB nod from RBI after CEO's arrest
Not evaded any GST dues; did not promote any kind of betting activity: Fino Payments Bank
📝 State-run banks rolling out GCC, AI road map under EASE 9.0 reforms
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💳 ATMs / Credit Cards
The rising cost pressures behind banks’ premium credit card reset
New Delhi: It’s raining devaluations for credit card users. Major issuers such as HDFC Bank, American Express, SBI Card and ICICI Bank have reworked credit card reward structures over the past two months, cutting back benefits on some of their most sought-after premium cards.
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🗎 NBFCs / FIs / MFI
How the Hero FinCorp personal loan EMI calculator helps you plan loans better
New Delhi [India], March 2: When you decide to borrow money for a medical emergency, home renovation, education or any urgent expense, the first question that comes to mind is: how much will I have to pay every month? Understanding your Equated Monthly Instalment or EMI is the foundation of responsible borrowing. This is exactly where the Hero FinCorp Personal Loan EMI Calculator helps you evaluate repayment commitments clearly before applying.
IIFL Finance launches Suvarna Dhara Gold Loan - quick and flexible financing against gold
Customers can now leverage the value of their gold by availing funds up to ₹50 lakh with IIFL Finance Suvarna Dhara Gold Loan. Get flexible repayment options, an easy top-up facility, high-grade security, and an end-to-end digital experience. Mumbai, India, March 2, 2026 /PRNewswire/ -- Gold has always been considered one of the most trusted assets in India, which goes beyond sentiment and heritage. It is looked at as a financial security asset that can help individuals and MSMEs to address liquidity as well as future growth objectives. The most efficient and common way is to get a gold loan and use it as working capital.
JM Financial picks Adani Power, Tata Power among top summer utility bets
Strong demand, low credit costs to keep gold-loan NBFC profits healthy
📝 No cultural taboo: The rich go for gold loan as metal soars
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UPIs / Wallet / FinTech
Pine Labs to launch stablecoin payments outside India, CEO says
Pine Labs will launch a stablecoin-backed prepaid card across nine countries in the Middle East, Africa and Southeast Asia by the end of April, the fintech firm's chief executive told Reuters, marking the first attempt by an Indian payments major to tap the fast-growing market.
📝 Digital onboarding to ease KYC for foreigners using UPI for payments
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🗠 Bourses
Stock Market holiday today: NSE and BSE closed for Holi on March 3. Check full list of March holidays
The Indian share market was coloured in red on March 02, but it will remain closed on Tuesday, March 03, on account of the colour festival Holi. Both the bourses, NSE and BSE, will not conduct trading today. Regular trading will resume on Wednesday, March 04.
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Crypto
📝 Bitcoin rebounds above $67,000 as investors dive back in despite Iran-US conflict — what's driving the surge?
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🗠 Mutual Funds / AMCs
Life-cycle funds: Match goals with tenure, pick glide path for your risk
The Securities and Exchange Board of India (Sebi) has launched a new category of mutual funds called life-cycle (LC) funds. These are target-date mutual funds that automatically change asset allocation as the fund approaches maturity, thereby carrying out the rebalancing that many investors fail to do themselves.
ICICI Life Rolls Out Dividend Leaders 50 Index Fund
ICICI Prudential Life Insurance has rolled out the Dividend Leaders 50 Index Fund under its Unit Linked Insurance Plans (ULIPs), targeting long-term wealth creation through investments in fundamentally strong companies with consistent dividend histories.
Bandhan MF’s Arudha SIF launches long-short scheme
Arudha SIF by Bandhan Mutual Fund has announced the launch of the Arudha Equity Long-Short Fund, an open-ended equity investment strategy under the Specialised Investment Funds (SIF) framework. The investment strategy is suited for investors seeking a more adaptive portfolio in an environment characterised by market swings, shifting leadership, and heightened volatility.
📝 Billionaire Jain bets on India’s wealth boom to hire, woo assets
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🗎 Equities, Pvt. Equity / Hedge Funds
PE-VC deals pick up pace as late-stage investments increase
Private Equity-Venture Capital (PE-VC) investments saw a 27 per cent year-on-year rise in terms of value in February 2026.
Gold, silver ETFs gain on equity markets meltdown
Mumbai: The bearish and volatile trend in the equity markets has pushed seasoned investors to place their bets on exchange traded funds with underlying precious metals, which are riding high on geopolitical tensions across the globe.
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🗎 Govt. Securities / Bonds
Govt should amend SMC Bill to unify regulation of the corporate bond market
One of the most desirable financial sector reforms would be the “unification of the bond market”, i.e., unifying the regulatory regime for G-Secs (government securities) and corporate bonds. This would greatly simplify the lives of investors, traders, and other stakeholders, besides increasing retail participation in G-Secs and developing the corporate bond market.
IIFL Finance eyes $750 million fundraise via social dollar bonds
Gold loan financier IIFL Finance plans to raise as much as $750 million through a combination of debut dollar-denominated social bonds and an overseas loan in March, two banking sources and a company source aware of the matter said on Monday.
📝 Indian bond yields spike as Middle East conflict lift crude oil prices
📝 Govt buys back Rs 13,788 crore G-sec in RBI’s switch auction
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✈ International
JPMorgan Dials Back Bullish Emerging-Markets Calls on Iran War
JPMorgan Chase & Co. dialed back the scale of its overweight recommendations on emerging-market currencies and local bonds due to the risks posed by the US attack on Iran.
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