Banking

PNB to Exit India SME Asset Reconstruction Company, Sells Stake for ₹34 Crore

Punjab National Bank (PNB), one of India’s leading public sector banks, has taken a significant step to streamline its investment portfolio by agreeing to sell its entire stake in the India SME Asset Reconstruction Company Limited (ISARC) for ₹34.04 crore....

Canara and Union Bank Unveil Tailored Deposit Products to Boost Mobilization

In response to slowing deposit growth, two major public sector banks — Canara Bank and Union Bank of India — have launched innovative deposit schemes to attract high-value customers and improve resource mobilization. These new products, announced on May 13,...

Ant Group to Sell 4% Stake in Paytm Worth ₹2,066 Crore via Bulk Deal

Chinese financial services major Ant Group, through its affiliate Antfin (Netherlands) Holding BV, has announced plans to sell a 4% stake in fintech company One97 Communications Ltd—the parent firm of Paytm—for approximately ₹2,066 crore via bulk deals on Indian stock...

RBI Cracks Down on Digital Lending Apps: Mandatory Reporting from May 13

The Reserve Bank of India (RBI) has issued a significant directive aimed at enhancing transparency and borrower protection in the digital lending ecosystem. As per the new guidelines under the RBI (Digital Lending) Directions, 2025, all regulated entities (REs) must...

SBI, Private Lenders Sell 20% of Yes Bank to Japan’s SMBC for ₹13,482 Cr

In a landmark move marking the largest cross-border deal in the Indian banking sector, State Bank of India (SBI) along with seven private banks have collectively sold a 20% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC)...

RBI Slaps Penalties on SBI and Jana Small Finance Bank for Regulatory Lapses

In a strong regulatory move, the Reserve Bank of India (RBI) has imposed monetary penalties on two banks — State Bank of India (SBI) and Jana Small Finance Bank — for deficiencies in compliance with banking norms. The action underlines...

Public Sector Banks Clock Record ₹1.78 Lakh Crore Profit in FY25

Public Sector Banks (PSBs) in India have posted a record-breaking cumulative profit of ₹1.78 lakh crore in the financial year 2024–25 (FY25), marking a substantial 26% increase over the previous year. Spearheaded by the State Bank of India (SBI), which...

Amex and HSBC Top Credit Card Additions Among Foreign Banks in FY25

In a strong rebound from previous declines, foreign banks such as HSBC and American Express have emerged as leaders in net credit card additions in FY25, according to the latest data from the Reserve Bank of India (RBI). HSBC added...

Japan’s Sumitomo Mitsui in Talks for 51% Acquisition of Yes Bank

In a significant development in the Indian banking sector, Japan’s Sumitomo Mitsui Banking Corporation (SMBC) is reportedly in advanced talks to acquire a majority 51% stake in Yes Bank. This move, if finalized, could mark a major foreign direct investment...

SBI Launches Largest Staff Engagement Initiative to Empower Workforce

The State Bank of India (SBI), India’s largest public sector bank, has launched a massive employee engagement and skill development initiative titled ‘Next LEAP’ and ‘SuPer SBI: Great to Greater’ to make its workforce future-ready and boost performance, pride, and...