Topic
Banking
Finance HDFC Board Imposes Rs 1 Lakh Fine on MD, CFO Over Extra Payout to Maharashtra PSU
HDFC Bank's board imposed a Rs 1 lakh penalty each on MD & CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and group head Arvind Vohra for 'business overreach' in deposit deals with Maharashtra State Road Development Corporation. The board found no mala fide intent but issued warning letters, in an action seen as unprecedented and aligned with RBI's push for stronger board oversight.
Finance Bank of Baroda Confirms Compromised Email Led to Data Leak; Core Systems Secure
Bank of Baroda reported a data leak from a cyberattack that compromised one employee's email account, exposing customer data. The bank assured that core banking systems remain secure and initiated a forensic investigation. Srikanth Lakshmanan of Cashless Consumer verified the leaked dataset included Aadhaar-linked details and internal documents.
Finance India Approves 2 Billion Polymer Banknotes of Rs 10 and Rs 20 for Field Trials
The Indian government has permitted the Reserve Bank of India to print 2 billion polymer banknotes – 1 billion each of Rs 10 and Rs 20 denominations – for field trials. Minister of State for Finance Pankaj Chaudhary informed Parliament that the notes will be tested before regular issue, and polymer will coexist with paper currency. The move follows RBI's tender for sourcing materials and aims to leverage the longer lifespan of polymer notes highlighted by international studies.
Finance HDFC Bank Board Imposes Rs 1 Lakh Penalty Each on MD, CFO, Group Head in MSRDC Case
HDFC Bank's board imposed a Rs 1 lakh penalty each on its MD & CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the MSRDC matter. The bank also issued warning letters to other employees involved in mobilising large deposits between 2017 and 2021.
Finance Japanese Bank Merger Creates $12.8bn Ship Finance Heavyweight, Uniting Two Regional Lenders
Two of Japan's most important regional maritime lenders, Iyogin Holdings and Ehime Bank, have signed a basic agreement to integrate, creating a banking group with more than ¥2.1trn ($12.8bn) in ship and maritime loans. The merger, effective April 1 next year, will combine Iyo Bank's ¥1.6trn shipping portfolio with Ehime Bank's ¥500bn exposure, making the group the third-largest ship finance lender in Japan and 10th globally.
Finance BNP Paribas Cardif Acquires 26% Stake in IndiaFirst Life via Bancassurance Route
BNP Paribas Cardif has entered into a definitive agreement to acquire approximately a 26% stake in IndiaFirst Life Insurance from Warburg Pincus, subject to regulatory approvals. The deal replicates the bancassurance model previously used by the French insurer with SBI Life, now partnering with Bank of Baroda and Union Bank of India.
Finance Climate Risk and El Niño Threaten Rural Credit: Rethinking Financial Resilience for Indian Farmers
As of early July, kharif sowing in India is 20% below last year's pace due to uneven monsoon and El Niño impacts. The all-India rainfall deficit narrowed to 18% but East and Northeast India face 37% deficit. LVLN Murty, CEO of Dvara KGFS, argues that rural credit must reflect local conditions, seasonal income patterns, and the need for savings and insurance to build financial resilience.
Finance UK Mortgage Rates Rise to Highest Level in a Month as Global Tensions Persist
Average UK mortgage rates have risen to levels last seen a month ago, with the two-year fixed deal averaging 5.58%, as renewed Middle East tensions push up lenders' funding costs and oil prices to $100/barrel, reducing expectations of central bank rate cuts. Over five million homeowners are projected to see higher monthly repayments by end of 2028, according to the Bank of England.
Finance RBI: Improving Liquidity Supporting Robust Credit Growth Amid Global Uncertainties
The Reserve Bank of India's latest State of the Economy report states that improving liquidity conditions are supporting robust credit growth, even as India's external sector remains steady with an improving outlook aided by foreign investment inflows. The central bank noted that India has navigated external uncertainties well, underpinned by healthy demand and resilient industrial and services sectors. Retail inflation edged up to an 18-month high of 4.4% in June.
Finance Q1 Bank Credit Flow Surges 10x as Market Mop-Up Collapses, RBI Data Shows
In Q1 FY27, bank credit to the commercial sector surged more than tenfold, while capital market mobilisation collapsed, according to RBI data. Incremental non-food bank credit rose to Rs 5,05,152 crore from Rs 49,813 crore, raising its share to 65% of total resource flows. Corporate bond and equity issuances fell sharply, indicating a major shift in corporate funding sources.
Finance Bank of England Holds UK Interest Rates at 3.75% as War with Iran Stalls Cuts
The Bank of England held UK interest rates at 3.75% for the fourth consecutive time in June 2026, maintaining the lowest level since February 2023. The decision comes as the US-Israeli war with Iran has pushed up global energy and fuel costs, stalling earlier expectations of rate cuts. CPI inflation fell to 2.6% in the year to June 2026, down from 2.8% in May, but the central bank warns that higher energy prices have already built inflationary pressure.
Finance Not Referring Cases to Internal Ombudsman a Serious Concern: RBI Deputy Governor
RBI Deputy Governor Swaminathan J expressed serious concern that a significant number of customer grievances resolved by RBI's integrated ombudsman were never referred to the bank's internal ombudsman. Speaking at the Internal Ombudsman Conference, he said this undermines the purpose of the internal ombudsman framework and directed banks to prevent such bypassing through better complaint management systems.
Finance Samsung Galaxy Card Launches on Visa Network with Barclays, No Annual Fee
Samsung announced the Galaxy Card, a credit card issued by Barclays on the Visa network, with no annual fee and cash rewards up to 5% on Samsung purchases. The card targets Samsung loyalists with perks like 3% back via Samsung Wallet and no foreign transaction fees. Applications open July 22.
Finance RBI Absorbs Net Liquidity of ₹70,888 Crore from Banking System in July 17 Operations
The Reserve Bank of India (RBI) absorbed net liquidity of ₹70,888.18 crore from the banking system as of July 17, 2026, according to its Money Market Operations data. The central bank conducted a 3-day Variable Rate Repo (VRR) at 5.26% and received ₹152,120 crore under the Standing Deposit Facility at 5.00%.
Finance Private Bank Chiefs Temper NRI Deposit Inflow Expectations as Tax, Liquidity Constraints Bite
Top private bank chiefs are taking a cautious view of RBI's FCNR(B) deposit window, with lenders saying tax rules, overseas liquidity conditions and regulatory constraints could limit inflows below initial estimates. HDFC Bank's Sashidhar Jagdishan said potential inflows may be around $50-55 billion instead of the earlier $60-80 billion estimate, while Axis Bank's Amitabh Chaudhry cautioned against speculation on single parameters.
Finance PNB Targets $2.5 Billion via FCNR(B) Deposits, Raises $425 Million So Far
State-run Punjab National Bank targets $2.5 billion from Foreign Currency Non-Resident Bank deposits, having raised $425 million so far. MD Ashok Chandra cites major traction from the UK, Dubai and GIFT City. The bank also reported a three-fold jump in first-quarter profits, while monitoring monsoon risks to agriculture.
Finance IDBI Bank Q1FY27 Net Profit Rises 3.3% to Rs 2,007 Crore on Lower Provisions Despite Weaker Operating Profit
IDBI Bank's standalone net profit for Q1 ended June 30, 2026 rose 3.3% year-on-year to Rs 2,007.36 crore, aided by a write-back of provisions of Rs 179.46 crore. Net interest income fell marginally while non-interest income dropped sharply, leading to a 28.1% decline in operating profit. Asset quality remained stable with gross NPAs at 2.30%.
Finance Punjab National Bank Q1 net profit surges 213% to Rs 5,253 crore on lower tax outgo
Punjab National Bank (PNB) posted a standalone net profit of Rs 5,253 crore for the quarter ended June 30, 2026, a 213.6% jump from Rs 1,675 crore a year earlier. The surge was aided by a steep 66.1% decline in tax outgo, even as non-interest income fell 17.7%. Asset quality improved with gross NPA ratio falling to 2.78% from 3.78%.
Finance FM Sitharaman Distributes ₹3,216 Crore Loans to 1,03,246 Beneficiaries in Andhra Pradesh Credit Outreach
Union Finance Minister Nirmala Sitharaman distributed loans worth ₹3,216 crore to 1,03,246 beneficiaries under various central government schemes at a Credit Outreach Programme in Narasaraopet, Andhra Pradesh. The assistance includes ₹2,363 crore for agriculture, ₹325 crore for MSMEs, and ₹624 crore for housing, education, vehicle and solar energy loans. The event underscores the government's push for financial inclusion and institutional credit access to rural areas.
Finance Indian Government Plans Amendments to Enhance MSME Liquidity and Payment Resolution
The Indian government plans to amend the MSME Development Act to enhance liquidity for micro, small and medium enterprises. Key measures include statutory backing for the Udyam registration portal, decriminalisation of provisions, and an online dispute resolution mechanism to speed up payment recoveries.
Finance RBI Bars Defaulters and Related Parties from Buying Back Seized Assets Under New Norms
The Reserve Bank of India (RBI) has prohibited defaulting borrowers and their related parties from buying back properties acquired by lenders to settle debt, under new directions effective October 1, 2026. Banks must adopt board-approved policies for asset acquisition, dispose of such assets within seven years via public auction, and follow standardised valuation and accounting rules. The regulations tighten norms for stressed asset resolution and have implications for borrowing costs and trade finance.
Finance Ex-RBI Governor Raghuram Rajan and Two Other Indians Join US Federal Reserve Policy Review Panels
The US Federal Reserve has appointed former RBI governor Raghuram Rajan, Harvard economist Raj Chetty, and Microsoft executive Asha Sharma to separate task forces reviewing its monetary policy framework. The panels, announced by Chairman Kevin Warsh, will examine balance sheet policy, data quality, productivity and jobs, communications, and inflation frameworks. The appointments signal an effort to incorporate diverse expertise as the Fed reassesses its tools and methods.
Finance Bank Holiday on July 16 for Rath Yatra and Harela: State-Wise Closures and Trade Finance Impact
Banks in Odisha, Uttarakhand, and Manipur will remain closed on July 16 for Rath Yatra and Harela festivals, according to the RBI holiday calendar. While digital banking continues, branch services like cheque clearance and document verification are unavailable, potentially affecting trade finance operations in those states.
Finance UK Banking Review Draws Over 15,000 Responses as Branch Closures Near 7,000
A UK government review into access to banking services has received over 15,000 responses in three weeks, following nearly 7,000 bank branch closures over the past decade. Separately, the National Audit Office found HMRC must 'learn lessons' after incorrectly suspending child benefit payments for thousands. The youngest recipients of the Winter Fuel Payment are those born 27 June 1960, and VAT on children's summer attractions has been cut.
Finance HDFC Bank Review Finds No Evidence to Support Former Chairman Atanu Chakraborty's Allegations
HDFC Bank announced that an independent legal review found no evidence to support former chairman Atanu Chakraborty's claims that the bank acted against his ethics and values. The review, conducted by law firms Wilson Sonsini Goodrich & Rosati and Wadia Ghandy & Co., examined board minutes, interviews, and documents over three months. The bank stated that Chakraborty did not record any concerns through official channels during his tenure.
Finance JPMorgan Chase on Track to Become World's First Bank With $1 Trillion Valuation
JPMorgan Chase shares hit a record high after posting the highest quarterly profit ever by a US bank, lifting its market capitalisation to around $919 billion. Analysts say the bank is within striking distance of becoming the world's first bank with a $1 trillion valuation, joining tech giants Tesla, Meta and Broadcom.
Finance IDBI stake sale back on table, government keen to speed up process with Fairfax, Emirates NDB in focus
The Indian government has resumed the process to sell its stake in IDBI Bank, holding high-powered meetings on Monday to accelerate the sale after previous bids were rejected for being below the reserve price. Two qualified bidders – Prem Vatsa's Fairfax and Emirates NDB – are under consideration. The Centre and LIC together hold a 94.7% stake and plan to sell 60.7%. The news lifted IDBI Bank shares nearly 3% to Rs 86.5 on BSE.
Finance RBI Proposes Changes to Ease Bank Stake Raising by Domestic Institutional Investors
The Reserve Bank of India has proposed amendments to bank shareholding norms to ease investments by domestic institutional investors (DIIs), while tightening disclosure and monitoring. Key changes include a carve-out for portfolio managers, introduction of 'qualifying persons' classification, and a one-time approval mechanism for increasing stakes up to 10%. Simultaneously, revised governance norms redirect bank boards' focus to strategy and risk oversight, scrapping rigid agenda requirements.
Finance Finance Minister Nirmala Sitharaman Urges Banks to Sustain Foreign Currency Deposit Momentum with Innovative Products
Finance Minister Nirmala Sitharaman has directed public sector banks to enhance outreach to NRIs and introduce innovative deposit products to sustain momentum in foreign currency deposits. The review covered FCNR(B), ECB, and OFCB swap initiatives, with bankers noting significant NRI interest from key regions.
Finance RBI Holds Third Annual Conference of Internal Ombudsmen, Deputy Governor Urges Stronger Grievance Redress
The Reserve Bank of India held the third annual conference of Internal Ombudsmen in Mumbai on 13 July 2026. Deputy Governor Swaminathan J urged boards and senior management to build an effective internal ombudsman mechanism, identify recurring issues, and implement remedial measures to strengthen customer service and grievance redress. The conference discussed recent developments, regulatory expectations, and insights from the RBI Ombudsman, focusing on faster, higher-quality resolutions and systemic improvements.
Finance Auto Lenders Push for Embedded Finance Innovation to Transform India's Auto Loan Market
Auto financiers in India are calling for a shift from traditional EMI-based loans to embedded finance and digital credit at the point of sale. Nearly 80% of new cars are financed, but leasing and subscription models remain minuscule. Industry leaders at the Fada Finance and Insurance Summit highlighted the need for seamless, integrated products and faster rate transmission.
Finance Banks Add Rs 7 Lakh Crore in Deposits During Last Fortnight of Q1FY27
Aggregate deposits with Indian banks surged by Rs 7 lakh crore (2.7%) in the last fortnight of Q1FY27 to reach Rs 265.4 lakh crore, driven by a balanced rise in demand and time deposits. Despite this, year-on-year credit growth of 18.6% continues to outpace deposit growth of 13.3%, leading to slower bank investments in government securities. SBI's chief economist attributes the deposit surge partly to capital inflows from FCNR(B), ECB, and OFCB, alongside $7 billion in FII inflows following government measures.
Finance Indian Bank targets $2 billion through FCNR deposits after RBI removes interest rate ceiling
Indian Bank plans to raise $2 billion through FCNR(B) deposits after the RBI removed the interest rate ceiling on fresh deposits with maturities of 3-5 years until September 30, 2026. The bank has secured $140 million since mid-June and raised the deposit rate to 6%. The move is expected to boost foreign currency inflows for the bank, which also reported a 10% rise in Q1 net profit to Rs 3,273 crore.
Finance Bank of Maharashtra Net Profit Surges 27% to Rs 2,023 Crore on Higher Interest Income and Improved Asset Quality
Bank of Maharashtra posted a 27% year-on-year increase in net profit to Rs 2,023 crore for Q1FY27, underpinned by higher net interest income and non-interest income. The bank's gross NPA ratio improved to 1.45% from 1.74%, while the board approved raising up to $500 million through bond issuances. Managing director Nidhu Saxena noted a focus on margin-conscious growth and an aspiration to mobilise FCNR(B) deposits by September 30.
Finance Global Bank Ship Finance Portfolios Rebound to $300.6bn in 2025, Petrofin Report Shows
Global bank lending to shipping grew 6% in 2025, with top 40 banks' portfolios reaching $300.6bn, according to the Petrofin Global Bank Research report. The recovery was broad-based, led by European and Greek banks, while borrowing conditions improved with lower margins and fees. The outlook is for modest growth in 2026-2027, though banks are becoming more selective.
Finance Bank of England Chief Economist Says Interest Rates May Need to Rise This Year
Bank of England chief economist Huw Pill indicated that interest rates may need to rise this year to control inflation, currently at 2.8% above the 2% target. Pill was among a minority of MPC members voting for a rate increase in June. He cited lower economic speed limits and productivity slowdowns, particularly in Wales, as reasons for potential tightening.
Finance Banks opt to deepen card usage within existing base
Banks are increasingly issuing multiple credit cards to existing customers rather than onboarding new ones, resulting in just 5.2 crore unique cardholders against 10.7 crore cards in circulation as of March 2026, according to TransUnion Cibil's 'Beyond the Swipe' report. The shift reflects a decade-long trend of deepening usage rather than expanding ownership, with the share of consumers holding three or more cards rising from 12% in 2016 to 22% in 2026.
Finance Lloyds CEO Charlie Nunn Shares Five Personal Finance Tips for Managing Money
In a BBC interview, Lloyds Banking Group CEO Charlie Nunn shares five money management tips: automate savings, talk openly about money in relationships, give children pocket money, pause before buying to avoid fraud, and beware of finfluencers pushing risky products. The insights reflect consumer banking trends from the UK's largest bank.
Halifax Brand Scrapped After 173 Years as Lloyds Banking Group Consolidates Portfolio
Lloyds Banking Group has confirmed it will retire the Halifax brand after 173 years, rebranding all customer accounts to Lloyds. The decision, reported by BBC Business, aims to simplify the group's portfolio. No job cuts are announced, and branches will be rebranded or relocated throughout 2027.
Finance India's Credit Card Market Grows 8x in Decade but Penetration Remains Low at 25%
A TransUnion CIBIL report reveals India's credit card market has expanded sharply over the past decade, with outstanding balances rising 8.3 times to Rs 3.1 lakh crore. However, penetration remains low at 25%, compared to over 60% in Colombia, UK, USA, and Hong Kong. New-to-credit additions have slumped to 8% of fresh cards, indicating limited expansion of the formal credit ecosystem.
Finance NBFC Loan Growth Hits 14.2% to Rs 58.6 Lakh Crore, Trailing Bank Lending Pace
NBFC loan growth accelerated to 14.2% year-on-year in May 2026, reaching Rs 58.6 lakh crore, but still trailed banks' 17.7% pace. Retail loans accounted for nearly all of the Rs 84,544 crore incremental credit added between March and May, while industrial lending contracted.
Finance Bank of England Forecasts One Million Additional UK Homeowners Facing Mortgage Bills by 2028 Amid Iran War Impact
The Bank of England's Financial Stability Report projects over five million UK homeowners will see higher mortgage repayments by end-2028, one million more than December's forecast, attributed to the Iran war impact. The typical increase of £45 per month is smaller than the £120 rise seen in 2022-2024, and household debt remains low relative to historical averages, suggesting limited drag on consumer spending.
Finance Phone Contract Comparisons of Student Loans Amounted to Mis-selling, UK MPs Say
The UK Treasury Committee has concluded that government comparisons of student loan repayments to phone contracts amounted to mis-selling. The committee criticized the freeze on the repayment threshold and called for reform.
Finance Power and Infrastructure Drive 17% Credit Growth to Indian Industry in FY27
Gross bank credit to industry in India grew 17% in the first two months of FY27, led by the power sector. Power exposure rose Rs 15,399.9 crore. Infrastructure credit increased 1% overall, with telecom declining sharply. Private banks have doubled power lending, according to Macquarie.
Finance UK Banks Accused of Failing Vulnerable Customers by Financial Regulator
The Financial Conduct Authority (FCA) has accused nine major UK banks of failing the most vulnerable customers, with a mystery shopping exercise rating a third of basic bank account interactions as poor or very poor. Banks have now agreed to simplify access for homeless and financially distressed individuals.
Finance Bank Holiday Today: Where Are Banks Shut on July 6? Check State-Wise List
Banks in India will remain closed on July 6, 2026, in several states, according to a report by the TOI Business Desk in The Times of India. The article, which includes a state-wise list, also features links to financial calculators for loans, SIPs, PPF, FDs, NPS, and mutual funds.
Finance Loan Growth Quickens in Q1 as Deposit Gap Widens, Pressuring Bank Margins
Indian banks reported elevated credit growth in Q1 FY27, with some lenders posting advances growth double the system rate. However, deposit growth remained sluggish, widening the credit-deposit gap to 5.4% and pushing the loan-to-deposit ratio to 82.7%, the highest in over a decade. Public sector banks are losing deposit market share, while private banks tactically shed high-cost bulk deposits.
E-Commerce & Marketplaces ToneTag eKosha turns UPI soundboxes into banking touchpoints for Indian MSMEs
Bengaluru-based fintech ToneTag has launched eKosha, a tech stack that turns existing UPI soundboxes into always-on banking touchpoints. The platform uses sound-based data transfer and edge AI to allow merchants to access credit, overdrafts, and other services via voice commands, covering 3 million touch points across 73% of India's pin codes.
Jersey Government to Share Personal Data With UK Credit Agencies From July 30
Jersey's government will securely share residents' personal data with UK credit reference agencies from 30 July 2026, unless they opt out, to improve access to credit cards. The move has drawn mixed reactions: some islanders welcome easier credit applications, while others worry about data privacy. Consumer Council calls it a relief for those previously unable to obtain credit.
Finance Bank of Baroda Settles NMC Health Creditor Claims for $600 Million in Cross-Border Insolvency Case
Bank of Baroda has agreed to pay $600 million (approximately Rs 5,700 crore) to the administrators of collapsed healthcare group NMC Health in an out-of-court settlement. The settlement resolves claims that BoB's financial arrangements enabled concealment of debt. Funds will be distributed to creditors including banks, bondholders, and trade creditors.
Finance RBI Tells Parliamentary Panel Cryptocurrency Difficult to Regulate, Opposes Legalisation
The Reserve Bank of India informed a Parliamentary panel that cryptocurrency is difficult to regulate and poses risks including financing of drug trade and terrorism. The central bank firmly opposes legalisation, while the Institute of Chartered Accountants of India advocates for a comprehensive regulatory framework to harness strategic opportunities.
FCA Delays Car Finance Compensation Payments Until 2027, Average Payout Set at £829
The Financial Conduct Authority (FCA) has delayed compensation payments for millions of drivers mis-sold car finance agreements until at least 2027. Average payouts of about £829 are expected under the FCA's proposals, with total compensation costs including administration reaching £9.1bn. Legal challenges have delayed calculations and payments, affecting approximately 12 million car loans.
Finance Deutsche Bank Sells India Retail and Wealth Business to Kotak Mahindra Bank for Rs 282 Crore
Kotak Mahindra Bank acquires Deutsche Bank's India retail, private banking and wealth business for Rs 282 crore in a slump sale. The deal transfers Rs 29,000 crore in loans, Rs 16,000 crore in deposits and Rs 10,500 crore in assets under management, along with 150,000 customers and around 1,000 employees. Deutsche Bank's divestiture aligns with its Global Hausbank strategy to concentrate on corporate and investment banking.
Finance RBI Stress Test: Indian Banks Pass, But Gold Loan and Private Credit Risks Flagged
The RBI's bi-annual Financial Stability Report reveals that Indian banks' capital adequacy remains above regulatory minimums under stress scenarios, though gross NPA ratios are projected to rise to 3.8-4.1% by March 2028. The central bank also flagged risks from gold loans and private credit, while governor Sanjay Malhotra cited strong growth and low inflation as supporting macro-financial stability.
Finance Gold Loans Surge 105.5% as Services Credit Outpaces Personal Loan Growth in India
Gold loans in India grew 105.5% year-on-year to Rs 5.1 lakh crore as of May 2026, driving their share within personal loans to 7.3%. Meanwhile, services credit expanded 20.4%, led by a 33.7% surge in NBFC lending, surpassing personal loan growth of 15.4% and reducing the share of personal loans in total bank credit to 32.6%.
Finance Bank of Baroda and Mizuho Bank Form Strategic Partnership for M&A Financing and Cross-Border Banking
Bank of Baroda and Mizuho Bank have entered a strategic partnership to jointly pursue M&A financing, structured lending, and cross-border corporate banking. The tie-up combines Mizuho's global network and structured finance expertise with Bank of Baroda's domestic franchise and corporate relationships, following Mizuho's acquisition of a 60% stake in Avendus Capital in December 2025. The collaboration includes joint origination, structuring, co-underwriting, and syndication of acquisition finance, as well as advisory on select M&A deals and a preferred channel for sub-participation and secondary risk distribution.
Finance Supreme Court blocks Trump's attempt to fire Federal Reserve governor Lisa Cook in 5-4 ruling
The US Supreme Court ruled 5-4 to block President Trump's attempt to fire Federal Reserve Governor Lisa Cook, stating the administration did not provide sufficient due process. The case returns to lower courts where the administration must prove mortgage fraud allegations. The decision is seen as affirming the Fed's independence.
Finance Who is Puneet Sharma, the Axis Bank CFO Who Has Resigned? No Details in Brief Report
On June 29, 2026, Business-Today published an article questioning who Puneet Sharma is, identifying him as the Axis Bank CFO who has resigned. The article provides no further details on the resignation but includes a description of the TOI Business Desk and a list of financial calculator tools.
Finance Agri Loans Face El Nino Risk but Credit Growth to Stay Healthy: Yes Securities Report
A report by Yes Securities indicates that while El Nino conditions could affect agricultural loans, the overall banking sector is expected to remain stable with healthy credit growth of around 17% and stable credit costs in FY27. Net interest income growth for coverage banks is projected to recover sharply to 16.1% in FY27 from 5.3% in FY26.
Finance Kotak Mahindra Bank CEO Ashok Vaswani to Exit After Term Ends in December 2026
Kotak Mahindra Bank CEO Ashok Vaswani is set to exit after his term concludes in December 2026, as reported by Business-Today. The announcement comes without additional details on succession or reasons.