After a year in which international equities outperformed domestic markets, more investors are waking up to the importance of global diversification. However, with the regulatory overseas investment ceiling, the options…
(RBI) is examining a complaint received against for "repeated instances of at a discounted value", India's junior finance minister Pankaj Chaudhary told lawmakers on Tuesday.
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India's central bank has received two complaints against the lender in October 2024 and February 2026, related to assets linked to three developers, according to a written reply to parliament.
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The complaint received in February 2026 is under examination, he said.
A final order in the complaint received in October 2024 is pending, the minister said. "The sale of asset by the secured creditor was a commercial judgment of the concerned entity," he said.
Private sector and state-run raked in around 19,000 crore from account holders for not maintaining minimum balance in three financial years — 2022-23 to 2024-25, as per a Times of India report.
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While private sector banks mopped up around Rs 11,000 crore, public sector players collected Rs 8,093 crore, according to data shared by the finance ministry in Lok Sabha on Monday.
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Among private banks, collected the maximum of Rs 3,872 crore, followed by , while in case of public sector banks, () topped the list.
, the country’s largest bank, waived off penal charges for not maintaining minimum balance in saving accounts since March 2020. Taking cue from it, another nine public sector banks, such as PNB and , have done away with such charges for savings bank accounts since last year, while two others have also rationalised this charge. However, private sector banks are charging the penalty for not maintaining minimum balance.
In a written reply, finance minister Nirmala Sitharaman said, “The amount of Rs 8,092.8 crore collected over the last three financial years constitutes approximately 0.2% of the total income of Public Sector Banks during the same period, indicating that such charges form only a very small proportion of banks’ income and are primarily aligned with the cost of providing banking services rather than revenue generation through penalties.”
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The FM said about 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, are not subject to any penal charges for non-maintenance of minimum balance. She said banks offer zero-balance savings accounts facility for these accounts to ensure universal access to banking facilities, particularly for unbanked, vulnerable and small depositors, and to promote financial inclusion.
Chennai: Private sector South Indian Bank has launched the Employees' Provident Fund payment services through its internet banking platform SIBerNet, in collaboration with the EPFO, a top official said on Thursday.
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The integration with the Employees' Provident Fund Organisation enables employers and establishments to remit EPF contributions seamlessly through the Bank's digital banking platform.
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South Indian Bank Managing Director and CEO P R Seshadri said, "The launch of EPF payments through SIBerNet marks another step forward in our commitment to providing seamless and secure digital banking solutions to our customers."
With the successful completion of integration between the Thrissur-based bank and EPFO, employers, establishments can now remit EPF contributions, dues, remittances and related charges directly through the EPFO portal using South Indian Bank's net banking facility, the release added.
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Mumbai: (PSBs) continued to outpace private sector peers in in the December quarter of FY26, with loan growth of around 17-28% year-on-year, compared with 11-16% for private banks. As a result, PSBs' market share in loans rose to 54.4% at the end of December 2025, up from 53.11% a year earlier. In contrast, private banks saw their share decline to 40.6% from 41.07% during the same period.
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Large state-run lenders such as State Bank of India, Canara Bank, Bank of Baroda and Union Bank of India reported advances in growth of 18-28%, ahead of private lenders including , ICICI Bank and Axis Bank, which posted growth in the low-to-mid teens. Analysts attribute the momentum at PSBs to improving asset quality, recoveries from legacy bad loans and a revival in corporate lending.
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"Most PSBs reported above-system credit expansion and gained around 50 basis points of loan market share during the quarter," said Pranav Gundlapalle, head of India Financials at Bernstein. "Stronger credit momentum also helped PSBs edge ahead in NII growth despite a less favourable funding mix, as higher loan-to-deposit ratios offset margin pressures."
Part of the moderation in private bank growth reflects the sharp slowdown in HDFC Bank's loan expansion amid its ongoing balance sheet realignment following the merger with HDFC Ltd. ICICI Bank's growth has also normalised in recent quarters, tracking closer to or slightly below system averages.
In contrast, most PSBs reported above-system credit growth in the December quarter, with large state-run banks materially outperforming their large private sector peers. As a result, PSBs gained roughly 50 basis points of loan market share during the quarter, largely at the expense of the top five private banks, even as mid-sized and smaller private lenders broadly held on to their shares, as per an analysis by Bernstein.
"PSBs continued to exhibit robust performance in the December quarter, with net profit rising 17.5% year-on-year to '55,000 crore," said Sanjay Agarwal, senior director at CareEdge Ratings. "Profitability was supported by higher treasury gains and recoveries from technically written-off accounts."
He added that PSBs' relatively lower credit-to-deposit ratio of 81.7% as of December 2025 has given them greater balance sheet headroom to support credit growth. In comparison, private banks reported modest net profit growth of 3.2% YoY.
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Kolkata: has decided to raise lending rates by 10 basis points for two-to-three year tenure.
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The state-owned lender Wednesday announced that it will increase the marginal cost of funds based lending rates (MCLR) from Thursday. The two year will be 8.95% from Thursday, revised from 8.85% while three year MCLR will be 9% against 8.90%, the bank said in a regulatory filing to stock exchanges.
About half of the bank's loan portfolio is linked to MCLR. Its loan portfolio stood at Rs 11.92 lakh crore at the end of December last year.
Meanwhile, Bank of Baroda and Uco Bank Tuesday said that they kept their respective MCLR rates unchanged. Uco Bank however reduced treasury bill-linked benchmark rates by 5 basis points for three months and six months while keeping the 0ne-year rates unchanged.
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New Delhi: The Enforcement Directorate conducted searches at 19 locations on Wednesday in connection with alleged embezzlement of Rs 590 crore from the Haryana government's accounts maintained with in Chandigarh, sources said.
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The agency conducted searches in Haryana and Chandigarh against various business entities who helped the accused persons get accommodation entries to conceal the money trail and proceeds of crime, they said.
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The funds were supposed to be deposited by various government departments of the state in the bank but instead of being deposited in the FDs, these were allegedly diverted by the various accused persons for their personal purpose, the sources said.
In its investigation, the ED conducted searches on various business entities which have given accommodation entries to the main accused persons, ex-bank officials, certain beneficiaries of the alleged scam and real estate agents where the proceeds of crime have been dissipated, they said.
Significant amount of cash withdrawals has also been noticed in the said money trail with name of Chandigarh-based hotelier Vikram Wadhwa, involved in construction of real estate projects in the Tricity, has cropped up in this case who absconded after the news about the alleged scam came to limelight, they said.
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The Directorate of Enforcement (ED) on Wednesday conducted search operations at 19 locations across Chandigarh, Mohali, Panchkula, Gurgaon and Bengaluru in connection with an alleged Rs 597-crore scam involving the embezzlement of public funds linked to government accounts maintained with .
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The searches, carried out by the ED’s Chandigarh Zonal Office on March 12, covered premises linked to former bank employees Ribhav Rishi and Abhay Kumar, their family members, and several beneficiary shell entities including M/s Swastik Desh Projects, M/s Capco Fintech Services, M/s Maa Vaibhav Laxmi Interiors and M/s SRR Planning Gurus Private Limited. Premises of jewellers such as Sawan Jewellers and real estate developer Vikram Wadhwa and his business entities were also searched.
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According to the agency, the scam involved the diversion of government funds worth about Rs 597 crore belonging to the Haryana government, the Chandigarh Municipal Corporation and other government accounts. The funds were meant to be placed as fixed deposits with the bank but were allegedly siphoned off by the accused without authorisation.
The ED said it initiated its investigation under the Prevention of Money Laundering Act, 2002, based on a FIR registered by the State Vigilance and Anti-Corruption Bureau in Panchkula in February this year over a mismatch of balances in bank accounts of the Development and Panchayat Department of Haryana held with IDFC First Bank and .
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Searches revealed that the embezzled funds were routed and layered through multiple shell entities. Investigators said the alleged modus operandi involved the incorporation of a shell firm, Swastik Desh Projects Pvt Ltd, through which large sums of government money were initially diverted. The partners of the entity are Swati Singla and Abhishek Singla.
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The ED said that most of the funds were later channelled through bank accounts of jewellers to create the appearance of gold purchases through bogus billing. According to investigators, the fraud was carried out over roughly the past year with the help of former bank employees.
Ribhav Rishi, a former employee of IDFC First Bank who resigned in June 2025, allegedly used several shell companies to siphon off the funds. The agency said some of the proceeds of crime were transferred to bank accounts belonging to Rishi and his wife Divya Arora.
The ED also alleged that a significant amount of money was siphoned off by Vikram Wadhwa, a hotelier and real estate developer with projects in Mohali. Wadhwa allegedly received proceeds of crime directly in his bank accounts before transferring them to real estate firms including Prisma Residency LLP, Kinspire Realty LLP and Martell Buildwell LLP.
Searches were carried out at these entities and documents related to real estate investments were seized. Investigators said Wadhwa had also used jewellers such as Sawan Jewellers, Capco Fintech Services and Klaita Jewellers, along with shell firms including Swastik Desh Projects, to siphon off the funds.
Wadhwa could not be located during the search operations and has been absconding since the alleged fraud came to light, the agency said.
Investigations further revealed that substantial funds routed through an entity named Chandigarh Mega Store were also layered and siphoned off. The premises of one of its partners, Mohit Goyal, were searched and evidence linked to the diversion of funds was recovered.
Searches were also conducted at entities including M/s Maa Vaibhav Laxmi Interiors and M/s SRR Planning Gurus Private Limited. According to the ED, these firms had received funds directly from government accounts and subsequently routed them through other shell entities.
During the searches, the agency said more than 90 bank accounts were frozen and incriminating digital and documentary evidence was seized.
Further investigation in the case is underway.
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Mumbai: The revised (LCR) norms, set to take effect from April 1 could give banks additional room to expand credit by about 7%, assuming deposit growth remains steady at the current 10% pace, analysts said.
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A report from brokerage said the shift toward an LCR-based framework for assessing liquidity and lending capacity will allow banks to deploy surplus liquidity currently parked on their balance sheets into loans. As a result, loan-to-deposit ratios (LDRs) could theoretically rise by 3-12% across the brokerage's coverage universe, with (PSBs) set to be key beneficiaries.
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Large private banks are expected to see a relatively smaller increase in LDRs of 4-11%, while PSBs could see a gain of 6-11%, reflecting their stronger liquidity buffers, the brokerage house estimates.
Unlike the traditional LDR metric, which links lending capacity largely to deposit growth, the LCR framework allows banks to build liquidity buffers from their entire liability base - including deposits, borrowings and equity.
"As long as banks maintain an LCR cushion above the regulatory minimum, excess liquidity parked in low-yielding assets can be redeployed into loans without requiring additional deposit mobilisation, supporting credit growth," said Nitin Aggarwal, head of BFSI at Motilal Oswal Securities.
Betting on It Rules expected to give banks more space to lend if deposit growth stays steady
Separately, analysts at Macquarie Capital said the LDR constraint is less of an issue for banks such as (SBI), which currently maintains an LCR of around 138%, significantly higher than the roughly 120% levels seen among large private sector peers. This surplus liquidity alone could allow SBI to increase its LDR by 300-400 basis points without breaching LCR requirements, according to the brokerage's estimates.
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Analysts also pointed to optimisation under the (NSFR) framework as another lever for lending expansion. According to Motilal Oswal, better balance-sheet management under the NSFR framework could lift LDRs by 3-23%, with PSBs again better positioned due to their stronger stable funding buffers.
Since the NSFR focuses on one-year funding stability, banks with ratios well above the 100% regulatory threshold can redeploy excess Available Stable Funding - including equity, long-term borrowings and stable deposits - into incremental loans without a proportional increase in deposits. This allows banks to expand lending while maintaining structural funding strength.
"As Indian banks increasingly operate under these liquidity frameworks - similar to global peers - concerns that high loan-to-deposit ratios could constrain lending growth are expected to gradually ease," Aggarwal added. "This could allow credit growth to outpace deposit growth over time."
Motilal Oswal said it has assumed a minimum LCR threshold of 108% for banks. With the new guidelines expected to lift the system-level LCR by about 6 percentage points, the effective LCR could rise to around 115%. Any liquidity above this level could be deployed into loans, which offer higher yields than liquid assets. For some mid-sized private banks, the brokerage assumed a slightly higher LCR threshold to account for greater business volatility.
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New Delhi: The government has asked banks to devise low-interest loan schemes for retail borrowers as well as micro and small enterprises, and explore credit products for tribals who may lack collateral. Banks are expected to share inputs by the end of this month and implement the schemes early next financial year, said people familiar with the development.
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"Banks have been asked to look at various loan schemes and further build upon the existing models such as Grameen Credit Score and the Stand Up India 2.0 scheme," a government official said on condition of anonymity, adding that the aim is to push credit growth.
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Bank-led credit growth stood at a 19-month high of 14.6% at January-end, compared with 11.4% a year ago.
Public sector banks have already implemented the Grameen Credit Score framework for better assessment of self-help group members and people in rural areas to increase lending to this category. A bank executive said lenders will look at tailored schemes for micro enterprises, which may include longer tenure periods to bring down interest rates and lower requirements of margin funds. "Firms operating in sectors such as leather, toys and even street vendors will be targeted through these new loan products," he said, adding that the government wants banks to come up with inclusive credit strategies for the unbanked population.
Another bank executive said that models such as the proposed customised credit cards with a ₹5 lakh limit for micro enterprises registered on Udyam portal can also be looked at. "We are already in the process of rolling out these projects and can add more features to them including additional lending support," he said
Non-food bank credit increased 14.4% year-on-year in January, accelerating from 11.3% a year earlier while remaining at levels similar to those in December 2025, according to a report by CareEdge Ratings.
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"Growth was broad-based, led by personal loans, especially vehicle loans, and remained double-digit in (micro, small and medium enterprises) lending. Credit to services, including trade and NBFCs (non-banking financial companies), remained healthy, supported by a gradual pickup in corporate borrowings," it said, noting that gold loans surged 128.8% year-on-year in January, reflecting strong collateral-backed demand amid higher gold prices.
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