Bank news, NBFC updates, RBI repo rate, digital banking, and financial institution coverage.
Pine Labs, a prominent fintech company, was fined INR 3.1 lakh by the Reserve Bank of India (RBI) for noncompliance with regulations pertaining to PPIs. Officials from the central bank issued a statement saying they discovered Pine Labs broke PPI rules by giving out full-KYC PPIs without doing the
As part of a reorganisation associated with the growth of its offshore businesses in Vietnam and India, National Australia Bank (NAB) is planning to eliminate approximately 170 positions. As part of a larger operational reset, the bank is reorganising its functions, which is leading to layoffs in the business banking
Kotak wants to expand its MSME lending and wealth management for the rich with this deal.
The ICICI Prudential Life Insurance joint venture between Prudential and ICICI Bank is looking to be wound down. The listed insurer is majority-owned by ICICI Bank (50.95% stake) and has a 21.93% stake from Prudential Corporation Holdings Ltd, an indirect wholly owned subsidiary of Prudential Plc of the
HDFC Bank shares fell sharply after Chairman Atanu Chakraborty resigned abruptly. The RBI confirmed no governance concerns, and Keki Mistry was appointed interim chairman, reassuring investors amid sudden leadership changes.
India’s startup ecosystem saw activity across deeptech, consumer brands, and AI-driven platforms on 17 March 2026. Velmenni raised ₹30 crore to scale its light-based wireless communication technology, while Grapevine secured $4.1 million to expand its AI-led talent platform. On the business front, Venture Catalysts exited Pee Safe, RBI
Cashfree Payments, a fintech unicorn, was fined INR 3.1 lakh by the Reserve Bank of India (RBI) for failing to adhere to payment aggregator (PA) and payment gateway (PG) regulations. The Reserve Bank of India (RBI) said in a statement that it had inspected Cashfree in accordance with its
Bandhan Bank shares plunged up to 12% on 16 March 2026 amid reports that the promoter group is exploring a stake sale to facilitate investor exits. The sharp fall, accompanied by heavy trading volumes, made the stock one of the biggest losers in the banking sector during Monday’s trading session.
IDBI Bank shares plunged over 13% to around ₹79 after reports said the Indian government may scrap the proposed majority stake sale due to lower-than-expected bids. The development has raised uncertainty around the bank’s long-planned privatisation process.
The Central Bureau of Investigation has questioned Jai Anmol Ambani, son of Anil Ambani, in a ₹228-crore bank fraud probe linked to Reliance Home Finance Limited. The agency is examining alleged loan irregularities and diversion of funds.
In order to become a payment aggregator, the fintech company Cred was granted a final licence by the Reserve Bank of India (RBI) on 10 March. This paves the way for the company to accept merchants, process payments across various instruments, and deal with refunds and settlements. A prepaid payment
On 10 March, IDFC First Bank said that it had paid the Haryana government INR 645 crore in response to a fraud investigation at one of its Chandigarh branches. This amount was 55 crore more than the bank had originally estimated. At first, the bank thought the incident's
Shares of HDFC Bank declined sharply on 9 March 2026, falling more than 4% during intraday trading and touching a new 52-week low. The stock slipped to around ₹821.50 on the NSE as heavy selling pressure hit banking stocks across the Indian market. The fall in HDFC Bank’s
Indian microfinance firm Svatantra Microfin, led by entrepreneur Ananya Birla, has started early preparations for a potential initial public offering (IPO). The company has reportedly invited pitches from investment banks as it explores raising more than INR 3,000 crore through a public listing. While the IPO plan is still
Fino Payments Bank shares recovered well from an early 14% fall to trade modestly up on 3 March, erasing all intraday losses. Shares fell on fears associated with Rishi Gupta's (the company's MD and CEO) detention. In morning trades, shares of Fino Payments Bank were trading
India’s financial system remains stable for now, but early warning signs are emerging around household debt, consumption-driven borrowing, and declining savings, according to the latest Financial Stability assessment released by the Reserve Bank of India (RBI). The findings have sparked fresh debate among economists and market observers after data
The digital lending landscape has undergone a massive transformation over the last decade. Borrowing money used to involve multiple trips to a physical bank branch and stacks of paperwork. Today, a few taps on a smartphone screen can initiate a credit transfer in minutes. This convenience is the primary reason
State Bank of India released its October-December 2025 quarter results on February 7, 2026. The bank reported a standalone net profit of INR 21,028 crore, up 24% from INR 16,891 crore a year earlier. This marks the highest quarterly profit in SBI’s history. Net interest income grew
In an effort to increase its technological prowess and, by extension, its long-term competitiveness, the Indian lender Kotak Mahindra Bank Ltd., which is owned by billionaire Uday Kotak, is reportedly hiring 500 engineers. In his pursuit of establishing a technology company with a banking licence, Chief Technology Officer Bhavnish Lathia
Citizens and Infosys, a consulting and digital services firm for the future, have just announced their partnership. The Citizens Bank is among the most ancient and massive American financial organisations. With the help of Infosys, the bank's AI-first Innovation Hub will be launched in Bengaluru, India. Accelerating AI-driven
Reportedly, talks are underway between UPI and Ant International's Alipay+, a cross-border digital payment system, to facilitate UPI's continued international expansion by the Indian government and the Reserve Bank of India (RBI). Tourists from India would be able to use UPI with Alipay+-registered merchants abroad
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with S. Anand, Founder & CEO of PaySprint, who reflects
Wio Bank and Pine Labs have reached an agreement for Pine Labs to construct an acquisition infrastructure for the digital bank located in the United Arab Emirates. Pine Labs stated in a filing with the exchanges that the forthcoming cloud-native platform will provide multi-mode payment acceptance at scale, real-time settlement
In connection with Yes Bank's 2022 share sale, SEBI has accused current and former officials at PwC and EY's Indian divisions of violating insider trading regulations. US private equity firms Advent International and Carlyle Group were also implicated in this infraction, according to a classified SEBI
India’s startup ecosystem stayed active on 22nd January 2026, with notable funding activity across deeptech and EV mobility, alongside major business headlines shaping the broader market landscape. Meine Electric raised $750K in a pre-seed round to accelerate its iron-air long-duration energy storage innovation, while Chargeup secured INR 22 Cr
The Reserve Bank of India granted the Payment Aggregator-Physical (PA-P) licence to Razorpay POS, the company's offline payment division. Razorpay POS can now function as an offline payment aggregator for in-store transactions thanks to this licence. The fintech stated that it now possesses three significant RBI licences, which
On January 14, the Reserve Bank of India (RBI) gave Sumitomo Mitsui Banking Corporation (SMBC) of Japan "in-principle" approval to establish a wholly-owned subsidiary (WOS) in India. With four branches in Bengaluru, Chennai, Mumbai, and New Delhi, SMBC presently operates banking activities in India via branch format. With
The Reserve Bank of India (RBI) granted Skydo, a cross-border payments technology, a full licence on 9 January to operate as a Payment Aggregator-Cross Border (PA-CB). The Bengaluru-based payments company said it will broaden its product offerings and increase coverage in more trade corridors with the full licence. Skydo can
Federal Bank has unveiled The Fortuna Wave, its refreshed brand identity that marks a significant milestone in the Bank’s journey of evolution, relevance, and future readiness. The launch, held in Mumbai, took place in the presence of the Bank’s leadership team and its brand ambassador Vidya Balan, signalling
- Banking services may be impacted for four days amid the January 27 Strike Call. - UFBU promises bank work hours won’t be reduced after the 5-day workweek. - Employees have agreed to work an additional 40 minutes per day.
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StartupTalky presents Recap'25, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2025 and discuss their vision for the future. In this edition of Recap’25, StartupTalky speaks with Mr. Manish Aggarwal, Founder and CEO of FINQY, on
The Reserve Bank of India (RBI) has announced fresh measures to inject INR 2.9 lakh crore into the banking system, aiming to ease tight liquidity conditions and calm bond markets ahead of the year-end. The move comes at a time when banks have been facing cash pressure due to
Signalling renewed market confidence and sector momentum, DJT Microfinance, one of India’s rapidly growing microfinance institutions committed to advancing financial inclusion, has secured funding of INR 130 crore from Public Sector Banks (PSBs) and leading Non-Banking Financial Companies (NBFCs). This strategic funding will support the company’s expansion plans
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This article has been contributed by S. Anand, Founder & CEO, PaySprint India’s financial ecosystem is undergoing one of the fastest transformations in the world. What once required physical paperwork, manual verification, and fragmented systems is now being shaped by APIs, artificial intelligence, and integrated digital rails. As someone
Following an initial investigation by the Mumbai Police's Economic Offences Wing (EOW), the Ministry of Corporate Affairs' Serious Fraud Investigation Office (SFIO) has begun a comprehensive investigation into suspected accounting errors totalling more than INR 2,000 crore at IndusInd Bank. Sources claim that the probe was
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A Gold Loan is one of the most trustworthy forms of borrowing in India, requiring minimal paperwork, quick disbursement, and the ability to unlock the value of your idle jewellery. Many households and businesses get timely financial relief through these funding options. However, the cost of borrowing largely depends on
The Reserve Bank of India (RBI) has given HDFC Bank's subsidiaries permission to purchase up to a 9.5% share in IndusInd Bank. India's biggest private sector lender by market value stated in an exchange statement on 15 December that the permission is effective for a
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This article has been contributed by Muzammil Patel Co-founder and CEO Acies Consulting In the world of solutions, what matters is outcomes. Concepts, ideas, and frameworks are only as relevant as their actual implementation and benefits derived therefrom. For a very long time, advice and methodologies were conceived by people
Gold has once again taken center stage in global financial markets, with the world’s top banks releasing bold price forecasts for 2026. Their projections suggest that gold could climb beyond ₹1.28 lakh per 10 grams in India next year, driven by massive central bank accumulation, monetary easing cycles,
Razorpay for Businesses, a payments and banking platform, announced on 2 December that it has obtained a Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI). According to a business release, Razorpay is now one of a small group of fintech companies that are allowed to process
On November 28, HDFC Bank Ltd stated that the Reserve Bank of India (RBI) has levied an INR 91 lakh punishment. In a press release, the RBI noted violations of the Banking Regulation Act as well as failure to follow guidelines pertaining to interest rates, outsourcing, and Know Your Customer
Deutsche Bank is exiting its retail business in India despite profitability. It's selling its Retail business, Portfolio and Wealth management...
In 2023, the corporation paid INR 417 crore to acquire a 3.53% share in RBL Bank as a treasury investment. M&M claims that it has gained 62.5% from the sale of its ownership in the bank. According to the exchange filing, the corporation is referring to
* Drip Capital’s total debt funding raised to date exceeds $500 million, supported by global partners including Barclays, World Bank’s International Finance Corporation (IFC), and East West Bank * The latest round of funding, led by Toronto-Dominion Bank, strengthens Drip Capital’s global platform for small and mid-sized businesses (SMBs)
Capital Small Finance Bank's Q2FY26 Gross Advances rise 17.7% Y-o-Y to ₹7,907 crore; Deposits up 19.8% Y-o-Y to ₹9,317 crore; Profit After Tax at ₹35 crore.
Indian eyewear retailer Lenskart has secured an investment of INR 100 crore from SBI Mutual Fund in a pre-IPO transaction. The investment comes via SBI’s Alternative Investment Funds (AIFs), namely the SBI Optimal Equity Fund and SBI Emergent Fund. Transaction specifics * The INR 100 crore investment was made at
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Running a business successfully requires both vision and capital. Whether you want to expand operations, upgrade equipment, or manage working capital, access to timely finance plays a crucial role. If you are a business owner looking for an INR 10 Lakh Business Loan, understanding the process and eligibility can help
India’s startup and business ecosystem saw notable developments on 24th October 2025, with multiple funding rounds and key corporate announcements. From sports infrastructure and trade finance to enterprise AI and urban water solutions, startups continue to attract significant investments. In parallel, prominent business leaders and organizations, including Deepinder Goyal
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This article is contributed by authored By Satinder Aggarwal, Founder, EQBAC Corporate cash reserves typically sit idle, waiting for emergencies or major investments. But there's a growing recognition that these funds could serve a dual purpose: protecting the business whilst actively supporting employees through welfare programmes, performance bonuses,
India’s startup and corporate ecosystem witnessed significant developments on 13th October 2025, with notable funding rounds, technological advancements, and strategic investments. Key highlights include fintech startup GoodScore raising $13 million, wealthtech firm Dezerv securing $40 million, and deep-tech Chara Technologies obtaining $6 million. Additionally, Jio Payments Bank forays into
The payments bank is leveraging its digital payments capabilities to serve the nation through infrastructure-linked financial services Jio Payments Bank Limited (JPBL), a digital-first payments bank and a subsidiary of Jio Financial Services Limited (JFSL), has won a contract to implement the FASTag Automatic Number Plate Recognition (ANPR)-based MLFF
The Bombay High Court last week upheld the State Bank of India's (SBI) decision to label the accounts of Reliance Communications (RCom) as "fraud" and submit Anil Ambani's name to the Reserve Bank of India (RBI). On October 3, a panel of Justices Revati
JSW One Platforms Ltd., India’s leading tech-first B2B e-commerce marketplace, today announced the successful closure of its latest funding round, raising INR 575 crore. The round, initiated in May 2025, witnessed participation from marquee investors including the State Bank of India (SBI), Principal Asset Management, One-Up, International Conveyors Ltd.
State Bank of India (SBI), the nation's largest lender, wants to boost its asset size from the current 20% of the country's GDP to 25% by 2047 as it advances its goal of becoming a developed nation, or Viksit Bharat. This would also help the bank
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This article has been contributed by Manish Goyal, Chairman and Managing Director at Finkeda The peaceful villages and fields of rural India are gradually being disrupted, altering a way of life that has existed for hundreds of years. For so long, businesses in these areas were either reliant exclusively on
Simpl, a Bengaluru-based Buy Now, Pay Later (BNPL) fintech startup, has laid off approximately 100 employees following regulatory actions by the Reserve Bank of India (RBI). This move is part of a broader restructuring effort after the company was directed to halt its payment operations. RBI Orders Simpl to Cease
Given that most of India is going cashless, will charging on UPI payments make Indians revert to cash? Can UPI not be free forever? Learn more.
In an effort to increase bank loan availability for both individuals and businesses, the Reserve Bank of India (RBI) recently announced a number of significant measures. In addition to loosening limitations on lending against shares and debt securities, the central bank has chosen to permit banks to finance acquisitions by
For many years, Indian depositors looking for security and stability turned to fixed deposits (FDs). It was common practice to roll over FDs at maturity because it was thought that these investments yielded consistent returns. However, this strategy is being questioned in the current financial environment. The yields on top
On September 26, HDFC Bank Limited declared that the Dubai Financial Services Authority (DFSA) had formally instructed its Dubai International Financial Centre (DIFC) office to restrict the onboarding of new customers. The DIFC branch is prohibited from approaching or doing business with new clients who have not finished the onboarding
According to a report released on 25 September, the Reserve Bank of India's monetary policy committee (MPC) is expected to keep the repo rate at its current level in its October review, taking into account the favourable effects of the GST reforms on demand, the stronger-than-expected Q1 FY26
The RBI has ordered fintech startup Simpl to stop all payment operations for violating the PSS Act. This comes as the ED probes alleged FDI violations worth INR 913.75 crore. Already hit by layoffs and high cash burn, the BNPL firm working with 26,000+ merchants faces deepening troubles.
BlackSoil Capital, the Non-Banking Financial Company of BlackSoil Group, has raised ₹210 crore in debt in the first half of 2025 (Jan to Jun). The fundraise highlights BlackSoil’s expanding role as a trusted alternative credit partner for India’s SMEs and high-growth businesses. Despite the ongoing NBFC crisis and
Customers can earn higher returns on their idle liquidity by auto-investing surplus savings in the ‘Growth’ plans of Overnight Mutual Funds^ directly through the JioFinance app
The Reserve Bank of India (RBI) has granted Walmart-owned fintech PhonePe full approval to function as an online payment aggregator (PA). This comes more than two years after the RBI granted PhonePe in-principle permission to function as an online payment aggregator in August 2023. With the approval, PhonePe will be
Airtel Payments Bank has introduced the Safe Second Account - a smarter, safer way to pay. It enables customers to keep their primary savings protected, while they freely use the Airtel Payments Bank savings account as their second account for everyday payment needs.
On September 15, the fintech company CRED, based in Bengaluru, announced Sovereign, an exclusive society for India's elite, which includes a custom 18-karat gold credit card with guilloché engraving. The CRED-IndusInd Bank RuPay Credit Card was also introduced by the corporation. With CRED Scan and Pay, this lifestyle-focused
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This article has been contributed by Sarika Shetty, CEO and co-founder of RentenPe Every month, approximately 30% of India pay rent diligently, without fail. They have varied profiles – some are students, some new graduates while some are seasoned professionals with families. Rent, for them, is their biggest recurring expense. However,
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Fraud detection in banking has gained immense acceptance as an AI tool, bringing advanced security to bear with the machine learning algorithms that examine huge amounts of transaction data in real time by rapidly spotting patterns and anomalies that are characteristic of fraudulent activity. The main features of fraud detection
Banking infrastructure platform TransBnk today announced its $25 million Series B Fundraise led by Bessemer Venture Partners with participation from Arkam Ventures and Fundamentum Partnership, with participation from existing investors 8i Ventures, Accion Venture Labs, GMO Venture Partners. The funds will primarily be used for geographical expansion and bolstering tech
In the event that US President Donald Trump's tariffs take effect, the Reserve Bank of India (RBI), as it has in the past, will intervene and offer financial assistance to the most severely affected industries to help them weather the storm, RBI Governor Sanjay Malhotra stated in Mumbai
In a regulatory filing, Bank of India, following State Bank of India, designated Reliance Communications' loan account as fraudulent and named its former director, Anil Ambani, on the basis of alleged fund diversion in 2016. Ambani retaliated against the Bank of India, claiming that its actions were biased and
The Reserve Bank of India (RBI) has approved a plan by Japanese lender Sumitomo Mitsui Banking Corporation to purchase up to 24.99% of the private sector lender, Yes Bank announced on 23 August. In the biggest cross-border investment in the Indian banking industry, the Japanese lender declared in May
CredRight, a Non-Banking Financial Company (NBFC) that bridges the credit gap for India’s smallest business owners, has raised $10 million in Series B funding led by Abler Nordic, marking its first investment from the new Fund V. Existing investors Michael & Susan Dell Foundation and Unleash Capital also participated
On 19 August, Punjab National Bank said that it has chosen the domain name bank.in and that, instead of using the current www.pnb.co.in, its website will now be www.pnb.bank.in. PNB Strengthens Digital Security “In accordance with the RBI circular on 'Migration to
Mumbai, August 19, 2025: HDFC Bank, India's leading private sector bank, today announced that it has invested in CoRover, a leading conversational AI company. CoRover has created BharatGPT — a pioneering, sovereign, and enterprise-grade Large Language Model (LLM). CoRover, which has a user base of 1 billion and is
An expert group at the Reserve Bank of India has been looking for a comprehensive AI policy framework for the financial sector in light of the growing prevalence of AI-led innovation across many industries. Such a framework would offer adaptable, future-focused direction on AI innovation, adoption, and risk reduction in
14 August 2025, New Delhi: Shivalik Small Finance Bank (SSFB), India’s first Small Finance Bank to transition from an urban cooperative bank, today announced that it has successfully raised INR 100 Crore in equity capital. The funding round was led by SMBC Asia Rising Fund- Japan, the corporate venture
The widespread UPI outage on 7 August was attributed by the National Payments Corporation of India (NPCI) to internal technical issue at a "few" partner banks. The payments organisation stated that the problem has been resolved and that the NPCI systems were "functioning perfectly" in a
The RBI's in-principle approval of AU Small Finance Bank's conversion from a Small Finance Bank to a Universal Bank caused its shares to soar by more than 7% on 8 August. In the first trade, shares of AU Small Finance Bank surged up to 7.52%
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When it comes to managing expenses and bills, especially when one has low funds. This becomes really pressurizing and people start looking for sources to lend money from. In such situations, borrowing from friends and family could be embarrassing and hectic. And depending upon banks could cost major interests. So
In order to acquire money through an initial public offering (IPO), Tata Capital, the main financial services provider for the Tata Group, has submitted draft documents to SEBI, the capital markets regulator. The IPO's entire offer size is 47.58 crore shares, of which 21 crore will be
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At present, the world has experienced huge growth in online payments, and with the Covid-19 presence, people preferred to use online payment methods for almost everything as it is safe and secure. More and more people are opting for a cashless way to transfer money. Here, comes the work of
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Do you need an urgent cash loan without a salary slip? When money is an emergency need, then banks are not a good option. Bank loans come with a lot of paperwork. The increasing demand for instant loans is becoming evident, particularly for individuals lacking traditional salary documentation. Accessibility is
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The current inquiry by the Enforcement Directorate (ED) into claims of financial irregularities in the Anil Ambani Group has been stepped up. According to NDTV Profit, the corporation has also started an investigation into the INR 68.2 crore Anil Ambani fresh probe issue. On the evening of July 28,
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Mobile food trucks have evolved into scalable business models in India's Tier-2, Tier-3, and district cities that are rapidly developing. It offers the cost efficiency of traditional street food while harnessing the brand-building power of quick-service restaurants (QSRs). Driven by growing consumer aspirations beyond metro cities, improved road
To reward consumers for their everyday spending, SBI Card and PhonePe have launched a co-branded credit card. There are two varieties of the PhonePe SBI Card: SELECT BLACK and PURPLE. SELECT BLACK vs PURPLE: What's the Difference? When making purchases using the PhonePe app, customers who use the
To make digital banking safer for all users, the Reserve Bank of India (RBI) has released a draft of new regulations. Internet banking, mobile banking, and any other online services provided by banks are covered by the new regulations. The new regulations require banks to provide consumers with clear options,
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How many times have you broken your pot to withdraw your savings from the piggy bank? If you've also done this, then you know the temptation to break the pot and take the money out. But this was a traditional method of saving. In this era, you can
In order to create a real-time payments platform similar to the Unified Payments Interface (UPI), the Namibian central bank and the National Payments Corporation of India (NPCI) have inked a licensing deal. According to Dammu Ravi, secretary in the external affairs ministry, during a press briefing on the outcomes of
The Reserve Bank of India (RBI) has granted a prepaid payment instruments (PPI) licence to Zinka Logistics, a subsidiary of listed logistics giant BlackBuck. The business stated in an exchange statement that its fully owned subsidiary, TZF Logistics Solutions Pvt Ltd, was awarded the licence by the central bank. Banks
The RBI has instructed banks and payment institutions to incorporate the telecom department's (DoT) financial fraud risk indicator (FRI) into their systems in light of the increasing number of cybercrimes. The RBI guideline, released on June 30, seeks to use cutting-edge technologies to combat cybercrime. The DoT hailed
Reliance Communications Ltd. (RCOM) announced in a regulatory filing on July 1 that the State Bank of India (SBI) had labelled the loan account of RCOM as "fraud" and was taking steps to submit the identity of the company's former director, Anil Dhirubhai Ambani, to the
UGRO Capital has appointed Anuj Pandey as its new CEO. A founding team member and former Chief Risk Officer, Pandey will now lead UGRO’s MSME lending operations across India. The move comes as the company crosses ₹12,000 crore AUM, acquires Profectus Capital, and completes a large capital raise.
INDIA, Bengaluru, 24 June 2025: In a significant step towards bridging the credit gap for India’s emerging businesses, RazorpayX, the business banking platform of Razorpay, today announced the launch of RazorpayX Corporate Cards in a strategic partnership with Mastercard, RBL Bank, and YES Bank. The cards are built for
Nikhil and Nithin Kamath, co-founders of Zerodha, have paid INR 250 crore to purchase a minority interest in InCred Holdings Limited, which is the parent company of InCred Financial Services Ltd (IFSL). This is in advance of InCred's anticipated first public offering later this year. IFSL is a
The government is allegedly considering a plan to reinstate the Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions over INR 3,000 in an effort to relieve financial strain on banks and payment service providers. As per various media reports, the action is intended to address the operational
Four significant public sector banks have changed their lending rates in response to the Reserve Bank of India's (RBI) recent move to lower the repo rate by 50 basis points, which reflects the central bank's monetary easing stance. In the face of persistent difficulties, the action