Sumitomo Mitsui Banking Corporation is acquiring 20% stake in Yes Bank for Rs 13,482 crore, making it largest cross-border M&A deal in India's financial sector; SBI and 7 others to sell.
Union Bank of India’s top management lands into trouble for an unusually large book order worth Rs 7.25 crore with Rupa Publications; CEO Manimekhalai may not get an extension.
RBI slaps penalties on five lenders, including ICICI Bank, Bank of Baroda and Axis Bank, over deficiencies in certain regulatory compliances.
RBI allows IndusInd Bank’s board to appoint ‘committee of executives’ to oversee operations in absence of CEO; interim arrangement until new CEO takes charge or for three months.
IndusInd Bank’s deputy CEO Arun Khurana resigns with immediate effect, after global audit firm Grant Thornton submits report throwing light on accounting discrepancies in lender's derivatives portfolio.
The affiliate firms of Warburg Pincus and ADIA will own 15% stake in IDFC First Bank; fund raise will fuel lender's next phase of growth.
Reserve Bank of India fines Kotak Mahindra Bank, IDFC First Bank and Punjab National Bank for certain deficiencies in regulatory compliance.
IndusInd Bank, caught in midst of accounting lapses in derivatives portfolio, ups Santosh Kumar to role of deputy CFO; Arun Khurana to be relieved from additional charge of CFO.
This is India’s lowest retail inflation since September 2019; leaves door open for RBI to cut interest rate in upcoming policy in June.
Impact represents 2.27% of IndusInd Bank’s net worth as of December 2024, according to external agency’s audit report; this is lower than bank’s earlier internal review estimate of 2.35% impact.
After RBI’s repo rate cut, several PSU banks have revised lending rates by up to 35 basis points; interest rates on home and personal loans to fall.
RBI cuts repo rate by 25 basis points for second consecutive time; indicates more may come amid global uncertainties following Donald Trump’s sweeping imposition of tariffs.
The proposals range from securitisation of stressed assets to gold loans, co-lending and UPI transaction limit.
RBI Governor Sanjay Malhotra said central bank has reduced repo rate but he doesn’t have divine vision of ‘Sanjay of Mahabharat’ to predict where it will eventually reach.
RBI issues draft circular proposing stronger norms for loans given against gold ornaments and jewellery; aim is to harmonise rules across different regulated entities.
