Banking - The Purbottar

04 Nov

SBI Leads Effort for Banking-Sector Threat Intelligence Network to Counter Cyber Risks

nanika EditorBanking

State Bank of India (SBI), the nation's largest lender, has initiated a strategic movement alongside the Indian Banks’ Association (IBA) to establish a structured, industry-wide framework for real-time cyber threat intelligence sharing among financial institutions. Speaking on the critical necessity of this cooperative infrastructure, SBI Chairman C.S. Setty emphasized that while current protocols mandate reporting security incidents to regulatory bodies and state law enforcement agencies, creating an official peer-to-peer network among banks is essential for executing swift, preventive counter-measures. As financial entities rapidly accelerate digital adoption, the expanding technological attack surface presents unprecedented security vulnerabilities that require collective vigil. Setty…

29 Oct

Strong Equity and SIP Inflows Drive SBI Funds Management’s Growth in H1

nanika EditorBanking

SBI Funds Management Ltd, the asset manager for SBI Mutual Fund, has demonstrated solid business expansion as its quarterly average assets under management (QAAUM) grew by 10 per cent year-on-year to reach ₹13.1 trillion for the quarter ending September 30, 2026. This sustained asset growth was matched by strong financial metrics, with the company reporting a 12 per cent year-on-year increase in operating revenue to ₹2,336 crore for the first half of the financial year. Meanwhile, operating profit for the same six-month period climbed 11 per cent to ₹1,797 crore, showing steady overall performance even as operational profitability gains grew…

14 Oct

NMC Founder BR Shetty Sues Bank of Baroda for $15 Billion Over Alleged Fraud

nanika EditorBanking

Bank of Baroda (BoB) has responded to a massive $15 billion lawsuit filed by Bavaguthu Raghuram Shetty, the founder of the troubled NMC Healthcare group, in the Bombay High Court. In an official exchange filing, the state-owned lender stated that while it has noted media reports regarding the legal action, it has not yet been formally served with the suit and therefore cannot comment on the untested pleadings, though it intends to defend its interests vigorously if summoned. Shetty's lawsuit names BoB, ten of its officers, and 15 other defendants, demanding $5 billion each in direct and consequential damages, along…

18 Sep

Navigating Chaos: SBICAP Securities Stresses Discipline Amid Market Volatility at Guwahati Meet

Business BureauBanking, Latest

SBICAP Securities Limited, a group company of State Bank of India, in association with SBI Wealth, hosted an investor awareness programme in Guwahati to help investors and traders assess market volatility and make informed investment decisions. The programme was themed “Geopolitical Tensions and Market Swings: Navigating the Chaos.” SafalTripathi, General Manager, SBI Wealth; Hirakjyoti Das, Investment Officer, SBI Wealth; Sudeep Shah, Vice President–Technical and Derivatives Research, SBI Securities; and Sunny Agrawal, Deputy Vice President–Fundamental Research, SBI Securities, shared views on global and domestic market trends, investment opportunities and risk management strategies. The session began with an assessment of the global…

08 Sep

S&P Rates Bank of India ‘BBB’, Cites Solid Funding and Government Support

nanika EditorBanking

S&P Global Ratings has assigned Bank of India (BoI) a ‘BBB’ long-term issuer credit rating and an ‘A-2’ short-term rating, citing the bank’s adequate capitalisation, solid funding and healthy liquidity. The ratings agency said the long-term rating is one notch above BoI’s stand-alone credit profile, reflecting the likelihood of extraordinary government support if required. S&P highlighted BoI’s important role as a public sector bank in promoting financial inclusion and noted that majority government ownership and control provide strong links between the bank and the government. The agency said the bank’s solid deposit base, supported by customer confidence in its government…

03 Sep

GIFT IFSC Sees Sharp Rise in Foreign Currency Financing

nanika EditorBanking

Indian banks operating through International Banking Units (IBUs) at GIFT City’s International Financial Services Centre (IFSC) have sanctioned loans worth $54.02 billion under the Reserve Bank of India’s swap facility for FCNR(B) deposits as of August 31, 2026. The amount has risen sharply from $4.1 billion sanctioned by 14 IBUs on July 15, reaching $18.87 billion by July 31 and accelerating to $54.02 billion by the end of August, with 20 IBUs now participating in the scheme. The rapid increase highlights growing demand for foreign currency funding through GIFT IFSC and the expanding role of its financial services infrastructure. IBUs…

21 Aug

Fairfax Weighs CSB Bank Sale or Merger Ahead of IDBI Deal

nanika EditorBanking

Canada’s Fairfax Financial, a frontrunner for acquiring the government and LIC’s stake in IDBI Bank, may be given up to two years to consolidate its existing banking interests in India, according to sources. The proposed transaction, valued at more than $5 billion, would be the largest foreign investment in an Indian bank and is currently in the final stages of approval. Under Reserve Bank of India rules, an entity cannot own and operate two separate banks. Fairfax owns around 40% of CSB Bank, creating a regulatory requirement if it acquires control of IDBI Bank. Sources said Fairfax could either sell…

14 Aug

ICICI Bank Taps International Debt Markets with Massive $1.45B Deal

nanika EditorBanking

ICICI Bank Ltd. has launched a $1.45 billion syndicated offshore loan, joining a growing wave of Indian lenders tapping international debt markets to benefit from lower hedging costs. The nation’s second-largest private bank initially signed a $1 billion agreement with Bank of America Corp. and is now expanding the four-year deal—priced at a margin of 110 basis points over SOFR—to lenders including Mizuho Bank, Mashreqbank, and United Overseas Bank. This borrowing follows ICICI Bank’s $1 billion five-year bond sale last month, its first international issuance in nearly a decade, alongside talks for an additional $500 million in offshore bonds. The…

04 Aug

Banks Step Up Foreign Currency Deposit Drive as RBI Swap Scheme Nears Deadline

nanika EditorBanking

HDFC Bank, India’s largest private sector lender, has increased the interest rate on its three- to five-year Foreign Currency Non-Resident (Bank) [FCNR(B)] dollar deposits by 25 basis points to 6.25 per cent from 6 per cent. The revised rate came into effect from August 1 as banks step up efforts to attract foreign currency deposits under the Reserve Bank of India’s (RBI) concessional swap scheme. The rate hike comes at a time when the RBI’s special swap window is entering its final two months, a period expected to witness increased mobilisation of FCNR(B) deposits. Banks are focusing on attracting overseas…

28 Jul

India Moves Towards Polymer Currency as RBI Plans New Banknote Trials

nanika EditorBanking, Business

The Reserve Bank of India (RBI) has received approval from the government to issue 1 billion pieces each of ₹10 and ₹20 polymer banknotes for field trials, Minister of State for Finance Pankaj Chaudhary informed Parliament on Monday. The proposal, submitted by the RBI’s Central Board under Section 25 of the Reserve Bank of India Act, 1934, aims to evaluate the performance of polymer banknotes before their regular issuance in these denominations. The government has approved the proposal, and wider circulation will begin after successful completion of the trials. The minister clarified that polymer banknotes will be issued alongside existing…