RBI’s tighter payment aggregator guidelines have led major fintech players like PhonePe, Paytm and Cred to discontinue rent payment services on their apps.
Japan's SMBC completes acquisition of 20% stake in Yes Bank from SBI and other lenders; agrees to buy additional 4.2% stake from affiliate of Carlyle for Rs 3,065 crore.
Reserve Bank of India’s guidelines are aimed at tighter rules to increase safety and prevent fraud; norms include minimum net worth, eligibility and handling cross-border payments.
Ravi Ranjan is currently deputy MD of SBI; he is set to replace Vinay Tonse who will end his term on 30 November.
India’s retail inflation inched up to 2.07% in August from an eight-year low of 1.55% in the preceding month, driven by price increases in vegetables, meat and fish.
Notice against Rs 400 crore loan fraud is for alleged diversion of funds and non-compliance with sanction terms.
Sumitomo Mitsui Banking Corporation sells its 1.62% stake in Kotak Mahindra Bank for Rs 6,256 crore, ahead of its stake buy of 24.99% in Yes Bank.
Pursuing claimed default of Rs 225.22 crore, IDBI Bank files fresh plea in NCLT seeking insolvency against media and entertainment firm Zee.
Proposed changes relate to Sumitomo Mitsui Banking Corporation nominating two directors and SBI one to Yes Bank’s board after stake transfer is completed.
Already enabling Rs 15,000 crore of gold loans for banks, Manipal Fintech CEO Puja Abhishek Singh says plan is to enter co-lending biz and open branches in early 2026; next game is to lend directly.
Bank of Baroda is third lender after SBI and Bank of India to have declared loan accounts of RCom and Anil Ambani as "fraud".
IndusInd Bank’s former CFO Gobind Jain has urged Centre to suspend and initiate an independent probe against Sunil Mehta, chairman of the lender’s board.
Deutsche Bank has invited non-binding bids from several banks for its retail banking assets in India; in 2021, Citi sold its retail business to Axis Bank.
Competition Commission of India has approved Sumitomo Mitsui Banking Corporation's proposal to acquire certain share capital and voting rights in Yes Bank.
Rama Subramaniam Gandhi will continue as part-time chairman of Yes Bank from 20 September to 13 May 2027 at a remuneration approved by RBI.
