DBS freezes recruitment, upskills employees as AI revolutionizes banking roles; Notorious scam mastermind allegedly betrayed by loyal associate in Singapore family office, in latest Singapore news updates
DBS Bank, Singapore’s largest bank, has announced a hiring freeze for positions that are likely to be automated due to the increasing use of artificial intelligence (AI) in banking operations. Instead of cutting jobs, the bank plans to retrain its employees to adapt to the changing landscape. According to CEO Tan Su Shan, DBS will “confront AI angst head-on” by redeploying staff into higher-value roles that require human judgment and empathy, such as advisory services, financial planning, and relationship management.
As AI systems take over routine functions like operations and customer service, DBS wants its workforce to focus on areas where human skills are essential. To achieve this, the bank is investing heavily in training programs that equip staff with digital literacy, data analysis, and advisory skills. For example, tellers are being retrained to become bankers, while bankers are being upskilled into financial advisors.
DBS’s approach reflects Singapore’s broader push to embrace AI while safeguarding jobs. Regulators have urged firms to prepare workers for technological disruption through reskilling initiatives. By retraining instead of downsizing, DBS hopes to balance efficiency with workforce resilience. The bank’s stance could set a precedent for Asian banks, emphasizing that while AI is here to stay, human skills remain vital in shaping the future of finance.
The hiring freeze is a pragmatic approach to automation, and observers note that it signals a shift towards a more sustainable and responsible approach to technological disruption. By investing in its workforce, DBS is ensuring that its employees remain relevant in an AI-driven future. The bank’s commitment to retraining and upskilling its staff demonstrates a strong commitment to its workforce and a willingness to adapt to the changing landscape of the financial industry. Overall, DBS’s strategy is a positive step towards harnessing the benefits of AI while protecting the livelihoods of its employees.
Kotak Mahindra Bank Introduces New Policy Changes Effective December – Key Updates You Need to Know
Kotak Mahindra Bank has announced that it will start charging customers for SMS notifications related to their accounts, effective from December 2025. The bank will charge Rs 0.15 per SMS, with a free limit of 30 alerts per month. This charge will apply to various transactions, including UPI/NEFT/RTGS/IMPS transfers, ATM withdrawals, cash transactions, cheque deposits, and debit and credit card usage. The charge will be applicable to both salary and savings accounts.
However, some categories of customers will be exempt from these fees, including private banking clients, non-resident account holders, and a few other specific groups. Additionally, customers who maintain a combined balance of at least Rs 10,000 across their savings or salary accounts will not be subject to the charge. The calculation will take into account the monthly average balance and any term deposits held with the bank.
The bank has clarified that customers who meet the minimum balance requirement or receive regular salary credits will not incur any charges. This means that customers who use their accounts regularly and maintain a minimum balance will not have to pay for SMS notifications. The bank has stated that this measure is intended to ensure that customers continue to enjoy its services without incurring extra costs.
It’s worth noting that the charge is relatively small, at Rs 0.15 per SMS, and the free limit of 30 alerts per month is likely to cover most customers’ needs. However, customers who exceed this limit or do not meet the minimum balance requirement will need to be mindful of the additional charge. Overall, the bank’s move is likely aimed at encouraging customers to maintain a minimum balance and use digital channels for account updates, rather than relying on SMS notifications.
Filing a written statement is a statutory entitlement that cannot be withheld due to procedural irregularities, rules the Calcutta High Court, as reported by Live Law.
The Calcutta High Court has ruled that filing a written statement is a statutory right that cannot be denied due to procedural lapses. This judgment emphasizes the importance of adhering to the principles of natural justice and ensuring that parties have a fair opportunity to present their case. The court’s decision underscores that procedural rules should not be used to defeat substantive rights.
In the case, the plaintiff had filed a suit against the defendant, and the defendant had attempted to file a written statement. However, the written statement was rejected due to certain procedural irregularities. The defendant appealed this decision, arguing that the rejection of their written statement was unjust and denied them a fair opportunity to defend themselves.
The Calcutta High Court, in its judgment, held that the right to file a written statement is a statutory right conferred by the Code of Civil Procedure. The court noted that this right is a fundamental aspect of the adversarial system, allowing parties to present their case and defend themselves against allegations. The court observed that procedural lapses, such as delays or irregularities in filing, should not be allowed to defeat this substantive right.
The court relied on various precedents, including Supreme Court judgments, which have consistently held that procedural rules should be used to facilitate justice, rather than to defeat it. The court also noted that the rejection of a written statement due to procedural lapses would be tantamount to denying a party a fair hearing, which is a fundamental principle of natural justice.
In light of these considerations, the Calcutta High Court allowed the defendant’s appeal and directed the lower court to accept the written statement. The court’s judgment is significant, as it reaffirms the importance of upholding substantive rights over procedural technicalities. It also underscores the need for courts to adopt a liberal approach in interpreting procedural rules, ensuring that parties have a fair opportunity to present their case.
The judgment is likely to have implications for civil litigation in India, as it emphasizes the need for courts to prioritize substantive justice over procedural technicalities. It also highlights the importance of ensuring that parties have a fair opportunity to defend themselves, which is a fundamental principle of the adversarial system. Overall, the Calcutta High Court’s judgment is a significant development in Indian civil procedure, and it is likely to influence the approach of courts in similar cases.
Goregaon East Metro Station Gets New Name: Zurich Kotak Goregaon East, Reports Prop News Time
In a unique move, the Goregaon East metro station in Mumbai has been renamed as Zurich Kotak Goregaon East. This renaming is a result of a partnership between the Mumbai Metro authorities and Kotak Mahindra Bank, which has acquired the naming rights for the station. The renaming ceremony was attended by officials from the Mumbai Metro One Private Limited (MMOPL) and Kotak Mahindra Bank.
As part of the agreement, Kotak Mahindra Bank will have branding rights at the station, including signage, advertisements, and other promotional materials. The bank will also be responsible for maintaining the station’s facilities and ensuring that it remains clean and well-maintained. The MMOPL, on the other hand, will continue to operate and manage the station.
The renaming of the Goregaon East metro station is seen as a significant move, as it marks the first time that a metro station in Mumbai has been renamed after a corporate sponsor. The move is expected to generate significant revenue for the MMOPL, which will be used to improve the services and infrastructure of the metro network.
The partnership between MMOPL and Kotak Mahindra Bank is also expected to enhance the overall passenger experience at the Goregaon East metro station. The bank plans to provide various amenities and services to commuters, including ATMs, cash recyclers, and other digital payment solutions. Additionally, the bank will also offer exclusive discounts and offers to metro commuters who use its services.
The renaming of the Goregaon East metro station has been welcomed by commuters, who believe that it will improve the overall experience of traveling on the metro. The move is also seen as a positive step towards generating revenue for the MMOPL, which will be used to improve the services and infrastructure of the metro network.
In a statement, a spokesperson for MMOPL said, “We are pleased to partner with Kotak Mahindra Bank to rename the Goregaon East metro station as Zurich Kotak Goregaon East. This partnership will not only generate revenue for us but also provide commuters with a better experience.” A spokesperson for Kotak Mahindra Bank added, “We are excited to partner with MMOPL to rename the Goregaon East metro station. This partnership is a part of our efforts to increase our brand visibility and provide our services to a wider audience.”
Amjad Gill takes on additional responsibility as DG PSB.
Amjad Gill, the Joint Secretary of Sports for the Ministry of Inter-Provincial Coordination (IPC), has taken on additional responsibilities as the Director General of the Pakistan Sports Board (PSB). This decision was made by the IPC Ministry after the current Director General, Yasir Pirzada, left for Saudi Arabia to participate in the Islamic Solidarity Games 2025.
As a result, Amjad Gill will be overseeing the administrative and operational matters of the Pakistan Sports Board until Yasir Pirzada returns from the event. This means that Gill will be handling the day-to-day operations of the PSB, ensuring that its functions and activities continue uninterrupted during Pirzada’s absence.
The Islamic Solidarity Games 2025 are a significant international sporting event, and Yasir Pirzada’s participation is likely to be an important representation of Pakistan’s sporting interests. The event brings together athletes and officials from Islamic countries around the world, providing a platform for cultural exchange, sportsmanship, and competition.
In the meantime, Amjad Gill’s assumption of the additional charge as Director General of the PSB ensures continuity and stability in the organization’s operations. As Joint Secretary of Sports, Gill already has a deep understanding of the Ministry’s goals and objectives, as well as the workings of the PSB. This familiarity will enable him to hit the ground running and make informed decisions on behalf of the organization.
It is expected that Amjad Gill will work closely with other stakeholders and officials to ensure that the PSB’s activities and initiatives continue to progress smoothly during this period. The PSB is responsible for promoting and developing sports in Pakistan, and Gill’s leadership will be crucial in maintaining the organization’s momentum and achieving its objectives.
Overall, the assignment of additional charge to Amjad Gill reflects the IPC Ministry’s confidence in his abilities and its commitment to ensuring the continued success of the Pakistan Sports Board. With Gill at the helm, the PSB is well-equipped to navigate this temporary transition and emerge stronger and more resilient than ever.
AU Small Finance Bank Reaches Historic Peak, Demonstrating Unparalleled Expansion and Resilience
AU Small Finance Bank has achieved a significant milestone by reaching an all-time high on November 7, 2025. This achievement is attributed to the bank’s strong financial metrics and consistent growth trends. Over the past year, the bank has delivered an impressive return of 48.38%, outperforming the broader market by a substantial margin. In comparison, the broader market has only seen returns of 4.50% over the same period.
The bank’s robust performance is evident in its year-to-date increase of 59.91% and a remarkable 131.71% rise over the past five years. Additionally, AU Small Finance Bank has demonstrated resilience in the face of market fluctuations, outperforming its sector by 0.96% in a single day. The bank’s strong fundamentals are underpinned by a healthy average Return on Assets (ROA) of 1.71% and a high Capital Adequacy Ratio of 21.50%. This solid buffer against risks has enabled the bank to maintain its financial stability.
The bank’s net interest income has also grown at an impressive annual rate of 30.43%, contributing to its strong financial position. Furthermore, AU Small Finance Bank has high institutional holdings of 66.4%, indicating a high level of confidence from institutional investors. This has helped the bank solidify its status as a key player in the banking sector.
Overall, AU Small Finance Bank’s achievement of an all-time high is a testament to its strong financial performance and consistent growth trends. The bank’s robust fundamentals, high institutional holdings, and impressive returns make it an attractive investment opportunity. As the bank continues to demonstrate its resilience and stability, it is likely to remain a key player in the banking sector. With its strong financial position and growth prospects, AU Small Finance Bank is well-positioned to continue delivering strong returns to its investors.
Government to Accelerate PSBs’ Fundraising Efforts with Roadshows Slated for Next Week, Boosting Economy
The Indian government is gearing up to accelerate its fund-raising plans for public sector banks (PSBs) through a series of investor roadshows, starting next week. The Department of Investment and Public Asset Management (DIPAM) will lead the effort, with its Secretary personally participating in the roadshows for Bank of Maharashtra. The goal is to expedite minority stake sales in select lenders, including Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, UCO Bank, and Punjab & Sind Bank.
The roadshows are part of a broader strategy to raise funds for these five PSBs, which are in need of capital to meet regulatory requirements and support their growth plans. The government aims to sell minority stakes in these banks to private investors, which will not only help raise capital but also bring in fresh management expertise and improve governance.
The DIPAM Secretary’s personal involvement in the roadshows highlights the government’s commitment to this initiative. The Secretary will engage with potential investors, showcasing the strengths and growth potential of these PSBs, and addressing any concerns they may have. The roadshows will provide a platform for investors to interact with the bank management and gain a deeper understanding of their business strategies and prospects.
The government’s fund-raising plans for PSBs are ambitious, with a focus on accelerating the growth of these lenders and improving their financial health. The sale of minority stakes is expected to attract significant investor interest, given the potential for long-term returns and the opportunity to participate in the growth of India’s banking sector.
Overall, the launch of the roadshows next week marks an important milestone in the government’s efforts to revitalize the PSBs and put them on a path of sustainable growth. With the DIPAM Secretary’s personal involvement and the participation of potential investors, the stage is set for a successful fund-raising exercise that will benefit both the banks and the investors. The outcome of these roadshows will be closely watched, as it will have significant implications for the Indian banking sector and the country’s economic growth prospects.
DBS proudly backs Wales Safeguarding Week 2025
The Disclosure and Barring Service (DBS) is participating in Wales Safeguarding Week, a national awareness initiative taking place from November 10-14, 2025. The event aims to promote understanding and best practices in safeguarding adults and children. The DBS is supporting volunteer and charity organizations in Wales by providing guidance on DBS check eligibility rules. The DBS helps employers make informed recruitment decisions by processing criminal record checks and maintaining lists of individuals barred from working with children and vulnerable adults.
During Safeguarding Week, each Regional Safeguarding Board in Wales will host activities focused on specific themes, including safeguarding adults and children. The DBS will focus on helping organizations understand when DBS checks are required, what constitutes “regulated activity,” and how to access free checks for eligible volunteers. The DBS will also provide guidance on the application process.
To support Safeguarding Week, the Wales Council for Voluntary Action (WCVA) is hosting a free online session on November 11 to address common misconceptions about DBS check eligibility. The session will provide practical guidance to help organizations make safer recruitment decisions while supporting their volunteers. Owain Rowlands, Regional Safeguarding Outreach Adviser for Wales at DBS, emphasized the importance of the event, stating that many volunteer organizations want to do the right thing but are unsure about DBS check requirements.
The DBS offers year-round free support to organizations across Wales through its Regional Outreach Service. Organizations can access this support by visiting the DBS website or contacting Owain Rowlands directly. By participating in Safeguarding Week, the DBS aims to provide organizations with the confidence and knowledge they need to understand DBS check requirements and access free checks for eligible volunteers. This initiative is crucial in promoting safer recruitment practices and protecting vulnerable individuals in Wales. Overall, the DBS’s involvement in Safeguarding Week demonstrates its commitment to supporting organizations in making informed decisions and promoting a safer environment for everyone.
Understanding Market Fragmentation: Implications for IDFC First Bank Limited’s Strategic Approach
Market Fragmentation and its Implications for IDFC First Bank Limited
The Indian banking sector is experiencing a phenomenon known as market fragmentation, where the market is divided into smaller segments, each with its unique characteristics and requirements. This trend has significant implications for banks, including IDFC First Bank Limited, which must adapt their strategies to remain competitive. In this article, we will explore what market fragmentation means for IDFC First Bank Limited’s strategy.
Understanding Market Fragmentation
Market fragmentation refers to the division of a market into smaller, distinct groups of consumers with specific needs and preferences. In the banking sector, this means that customers are no longer a homogeneous group, but rather a collection of diverse individuals and businesses with unique financial requirements. This fragmentation is driven by factors such as changing demographics, technological advancements, and shifting consumer behaviors.
Implications for IDFC First Bank Limited
For IDFC First Bank Limited, market fragmentation presents both opportunities and challenges. On the one hand, it allows the bank to target specific customer segments with tailored products and services, increasing the potential for growth and profitability. On the other hand, it requires the bank to develop a deeper understanding of each segment’s needs and preferences, which can be a complex and resource-intensive process.
To respond to market fragmentation, IDFC First Bank Limited must adopt a segmented approach to its strategy. This involves identifying and prioritizing specific customer segments, developing targeted marketing campaigns, and creating products and services that meet the unique needs of each segment. The bank must also invest in digital technologies, such as data analytics and artificial intelligence, to better understand customer behavior and preferences.
Key Strategies for IDFC First Bank Limited
To succeed in a fragmented market, IDFC First Bank Limited should consider the following strategies:
- Segmentation: Identify and prioritize specific customer segments, such as retail, corporate, or small and medium-sized enterprises (SMEs).
- Targeted marketing: Develop marketing campaigns that resonate with each segment, using channels such as social media, digital advertising, and traditional media.
- Product innovation: Create products and services that meet the unique needs of each segment, such as customized loan products or specialized banking services for SMEs.
- Digital transformation: Invest in digital technologies, such as data analytics and artificial intelligence, to better understand customer behavior and preferences.
- Partnerships and collaborations: Collaborate with fintech companies, startups, and other organizations to leverage their expertise and reach new customer segments.
By adopting a segmented approach to its strategy, IDFC First Bank Limited can navigate the challenges of market fragmentation and capitalize on the opportunities it presents. By understanding the unique needs and preferences of each customer segment, the bank can develop targeted products and services that meet their requirements, driving growth, profitability, and customer satisfaction.
UK-based ICG Group Close to Finalizing Sale of Singaporean Private Education Provider – Report
The U.K.-based ICG Group is nearing a deal to sell its stake in a Singapore-based private education institution, according to people familiar with the matter. The sale is expected to be one of the largest private-equity deals in the education sector in Southeast Asia this year.
ICG Group, a global alternative asset manager, has been exploring a sale of its stake in the institution, which provides private education services to students in Singapore and other parts of Asia. The company has been working with an investment bank to find a buyer, and several parties have expressed interest in acquiring the stake.
The private education institution, which has not been named, offers a range of programs, including international curricula and vocational training. It has a strong reputation in the region and has experienced significant growth in recent years, driven by increasing demand for high-quality private education in Asia.
The sale is expected to attract interest from a range of buyers, including other private-equity firms, strategic investors, and sovereign wealth funds. The deal is likely to be valued at several hundred million dollars, although the exact price has not been disclosed.
ICG Group’s decision to sell its stake in the institution is part of a broader strategy to exit non-core investments and focus on its core business. The company has been actively managing its portfolio in recent years, selling off non-core assets and investing in new opportunities.
The sale of the Singapore-based institution is also reflective of the growing trend of private-equity firms investing in the education sector. The sector has attracted significant interest from investors in recent years, driven by the growing demand for high-quality education in emerging markets.
The deal is expected to be completed in the coming months, subject to regulatory approvals and other conditions. ICG Group and the potential buyers have declined to comment on the sale, citing confidentiality agreements.
Overall, the sale of ICG Group’s stake in the Singapore-based private education institution is a significant development in the education sector in Southeast Asia. It highlights the growing interest in the sector from private-equity firms and other investors, and is likely to have implications for the broader education market in the region.
Zomato’s District Introduces Handcrafted Dining Experiences, Offering Kotak Solitaire Credit Card Holders an Exclusive Preview
The Kotak Solitaire Credit Card is offering its customers a unique opportunity to experience the world of fine dining like never before. Through its partnership with District, a platform that curates exceptional culinary events, cardholders can enjoy exclusive access to intimate chef’s tables with Michelin-starred legends, immersive evenings with global mixology icons, and other gastronomic moments that are truly extraordinary. The inaugural events, “NAAR x Dewakan” and “The Bhog Table by Chef Auroni & Bengaluru Oota Company”, received an overwhelming response, and cardholders can look forward to more such experiences in the future.
In addition to early access to these curated events, Kotak Solitaire Credit Card customers can also enjoy a range of other privileges, including 20% savings on dining via District, priority table access at India’s most in-demand restaurants, and a Zomato Gold membership for elevated dining privileges at a nominal fee of Re 1. These benefits are designed to make dining a truly special and memorable experience for cardholders.
According to Jyoti Samajpati, Executive Vice President of Kotak Mahindra Bank, the initiative is about crafting moments that are “as rare as they are memorable” and redefining India’s fine dining culture. The partnership with District aims to make exceptional culinary collaborations more accessible to users, creating a new era where extraordinary dining is discovered through convenience.
The Kotak Solitaire Credit Card is an invitation-only proposition reserved for individuals and families with deep, multi-dimensional relationships with Kotak. Cardholders can enjoy a range of benefits, including up to ₹8 crore pre-approved credit lines, wealth management services, access to exclusive events, and more. This initiative is a testament to Kotak’s commitment to delivering experiential banking, where financial solutions are seamlessly woven into a lifestyle of global sophistication and cultural richness.
To reserve a seat for these exclusive culinary experiences, cardholders can visit the District app. With the Kotak Solitaire Credit Card, the world of fine dining is now more accessible than ever, and cardholders can look forward to a range of unforgettable experiences that will delight their senses and create lasting memories. Whether it’s a special occasion or just a night out with friends, the Kotak Solitaire Credit Card is the perfect companion for anyone who loves food, wine, and exceptional company.
According to Fed’s Goolsbee, the absence of inflation data supports a cautious approach – Reuters
According to Austan Goolsbee, a former Chairman of the Council of Economic Advisers under President Barack Obama and current member of the Federal Reserve Bank of Chicago, the lack of inflation data supports the argument for a slow and cautious approach to monetary policy. Goolsbee’s comments come at a time when the US economy is experiencing a period of low unemployment and steady growth, but with inflation remaining stubbornly below the Federal Reserve’s 2% target.
Goolsbee’s remarks suggest that the Fed should be careful not to raise interest rates too quickly, as there is no clear evidence of rising inflation. He pointed to the fact that the core personal consumption expenditures (PCE) index, which is the Fed’s preferred measure of inflation, has been below 2% for several years. This lack of inflationary pressure, combined with low wage growth and a strong dollar, suggests that the economy is not at risk of overheating.
Goolsbee also noted that the current economic expansion is one of the longest on record, and that the Fed should be cautious about disrupting it with overly aggressive monetary policy. He argued that the benefits of raising interest rates too quickly, such as preventing asset bubbles, are outweighed by the potential costs, including slowing down the economy and potentially triggering a recession.
The former Obama advisor also highlighted the importance of considering the international context, including the ongoing trade tensions and the potential for a global economic slowdown. In this environment, Goolsbee believes that the Fed should prioritize maintaining a stable and supportive monetary policy, rather than trying to preemptively tighten policy to prevent inflation.
Overall, Goolsbee’s comments reflect a dovish view on monetary policy, emphasizing the need for caution and patience in the face of uncertain economic conditions. His perspective is likely to be welcomed by investors and consumers who are concerned about the potential impact of higher interest rates on the economy. As the Fed continues to navigate the complexities of monetary policy, Goolsbee’s words serve as a reminder that a slow and deliberate approach may be the best way to ensure a sustained and stable economic expansion.
DBS Sees Q3 Profit Surge, Driven by Robust Wealth Management Performance
DBS Bank has reported a record-breaking income for the third quarter of 2025, driven primarily by strong fee income from its wealth management sector. The bank’s total income surged by 3% to S$5.9 billion, with fee income and treasury customer sales reaching new highs. Net interest income remained stable, while market trading income improved due to lower funding costs and a more favorable trading environment. However, the bank’s net profit experienced a slight dip of 2% year-on-year to S$2.93 billion, largely due to the newly enforced global minimum tax reform.
Despite this, the bank’s profit before tax rose by 1% to an all-time high of S$3.5 billion. Expenses increased by 6% to S$2.4 billion, primarily driven by higher staff costs as bonus accruals rose in line with the improved performance. For the first nine months of the year, DBS’s profit amounted to S$8.7 billion, representing a marginal decline of 1% from the same period last year.
Looking ahead, DBS’s CEO, Tan Su Shan, emphasized the bank’s ability to adapt to the challenges of decreasing interest rates through agile balance sheet management. The bank plans to seize structural opportunities across wealth management and institutional banking, ensuring continued growth and success. The CEO’s strategy is focused on navigating the pressures of declining interest rates while capitalizing on opportunities in key business segments.
The strong performance of DBS’s wealth management sector was a key driver of the bank’s record-breaking income. The sector’s fee income and treasury customer sales reached new highs, contributing to the bank’s overall revenue growth. The bank’s ability to generate strong fee income from its wealth management business is a testament to its strength in this area and its ability to capitalize on growing demand for wealth management services.
Overall, DBS Bank’s record-breaking income in the third quarter of 2025 demonstrates the bank’s resilience and ability to adapt to changing market conditions. While the newly enforced global minimum tax reform had a negative impact on the bank’s net profit, the bank’s strong performance in its wealth management sector and its ability to navigate the challenges of decreasing interest rates position it well for continued growth and success in the future.
Kotak Mahindra Bank Ups the Ante with its Solitaire Credit Card, Now Offering Unparalleled Dining Privileges – scanx.trade
Kotak Mahindra Bank has taken a significant step to enhance the benefits of its Solitaire Credit Card, introducing exclusive dining perks to elevate the overall customer experience. The Solitaire Credit Card, designed specifically for women, already offers a range of benefits, including rewards, discounts, and lifestyle privileges. With the introduction of these new dining perks, cardholders can now enjoy a more rewarding and satisfying experience when dining out.
The new dining benefits include a discount of up to 20% at partner restaurants, with over 2,500 outlets across India participating in the program. This extensive network ensures that cardholders can enjoy their favorite cuisine at a discounted rate, whether they prefer fine dining, casual eats, or traditional Indian cuisine. Additionally, cardholders can earn 10X rewards points on dining spends, allowing them to accumulate points quickly and redeem them for exciting rewards.
To further enhance the dining experience, Kotak Mahindra Bank has partnered with prominent food delivery platforms, offering discounts of up to 15% on online food orders. This partnership enables cardholders to enjoy their favorite food from the comfort of their own homes while still benefiting from exclusive discounts.
The Solitaire Credit Card also offers a range of other benefits, including a welcome gift, anniversary benefits, and access to exclusive events. Cardholders can also enjoy complimentary lounge access, concierge services, and travel insurance, making it a comprehensive and rewarding credit card experience.
The introduction of these exclusive dining perks is a strategic move by Kotak Mahindra Bank to enhance the value proposition of the Solitaire Credit Card and make it more attractive to existing and potential customers. By offering a unique combination of rewards, discounts, and lifestyle privileges, the bank aims to increase customer engagement and loyalty.
In conclusion, the Kotak Mahindra Bank Solitaire Credit Card has become an even more appealing option for customers, particularly women, with the introduction of exclusive dining perks. The card’s extensive range of benefits, including discounts, rewards, and lifestyle privileges, makes it an excellent choice for those seeking a comprehensive and rewarding credit card experience. As the bank continues to innovate and enhance its offerings, it is likely to remain a popular choice among customers seeking a premium credit card experience.
US household debt sees moderate increase in Q3, according to New York Federal Reserve report
According to a report by the New York Federal Reserve, US household debt increased modestly in the third quarter of the year. The total household debt balance rose by 1.9% to $16.51 trillion, with increases in mortgage, credit card, and student loan debt. This represents the largest quarterly increase in household debt since the first quarter of 2020.
The rise in mortgage debt was the primary driver of the overall increase, with balances growing by 2.2% to $11.67 trillion. This was largely due to an increase in mortgage originations, which reached $752 billion, the highest level since 2007. Credit card debt also saw a significant increase, rising by 5.5% to $967 billion, as consumers took on more debt to finance purchases and expenses.
Student loan debt, which has been a growing concern in recent years, continued to rise, increasing by 2.1% to $1.76 trillion. Auto loan debt also saw a modest increase, rising by 1.4% to $1.44 trillion. However, home equity lines of credit (HELOCs) and other debt categories saw declines.
Despite the increase in household debt, the New York Fed noted that the overall delinquency rate remained low, at 2.6%, indicating that most households are managing their debt obligations. However, there were some signs of stress in certain areas, with credit card delinquencies rising to 6.4%, the highest level since 2013.
The report also highlighted the uneven distribution of debt across different income groups. Low- and middle-income households saw larger increases in debt, particularly in the credit card category, while higher-income households saw more modest increases. This suggests that lower-income households may be struggling to keep up with expenses and are relying more heavily on credit to make ends meet.
Overall, the New York Fed’s report suggests that household debt is continuing to grow, driven by increases in mortgage, credit card, and student loan debt. While the overall delinquency rate remains low, there are signs of stress in certain areas, particularly among lower-income households. As interest rates continue to rise, households may face increasing pressure to manage their debt obligations, which could have implications for consumer spending and the broader economy.
The US Federal Reserve injects liquidity into the financial system as Wall Street banks exhibit symptoms of strain
Analysts are warning of a potential global credit crunch, citing recent actions by the US Federal Reserve as a “canary in the coalmine” indicating growing financial stresses. On October 31, the Fed injected $77 billion into the US financial system through repurchase agreements, also known as “repos”, to provide short-term loans to banks. This was the highest-ever use of the Fed’s Standing Repo Facility since its introduction in 2021. The move has raised concerns about the health of the US banking system, with some analysts suggesting that the Fed’s actions may be a sign of a looming credit crunch.
The Fed’s recent decision to end quantitative tightening, which involves selling bonds to reduce its holdings and effectively sucking money out of the economy, has also raised questions about the state of the global financial system. The US government’s sale of bonds to fund its budget deficit has put pressure on global money markets, and analysts say that the Fed’s decision to end quantitative tightening may have come too late.
Key gauges of secured borrowing, such as the Secured Overnight Financing Rate (SOFR), have risen in the US and UK, reaching levels not seen in years. The SOFR is the interest rate on the central bank’s repurchase agreements, and a higher rate indicates greater fear in the money markets of a credit crunch. Analysts say that the signs of tighter liquidity are flashing across markets, and that the Fed’s recent actions may be a sign of a broader problem.
The Reserve Bank of Australia’s governor, Michele Bullock, has played down the risk of a credit crunch, saying that the Fed’s actions are aimed at preventing such an event. However, some analysts are more cautious, warning that the Fed’s decision to inject cash into the system may be a sign of a more significant issue. The New York Federal Reserve, which is considered the banker to Wall Street, has provided significant amounts of cash to the market in recent days, including a $22 billion injection on Monday.
The situation is being closely watched by analysts and policymakers, who are concerned about the potential for a credit crunch to spread globally. The global financial system is highly interconnected, and a credit crunch in one market can have far-reaching consequences. The Reserve Bank of Australia has said that disorderly markets pose a threat to Australia’s financial stability, and will likely be monitoring developments in the US money markets closely.
Overall, while the situation is still unfolding, the signs of a potential credit crunch are clear. The Fed’s recent actions, combined with rising funding rates and signs of tighter liquidity, suggest that the global financial system may be facing a significant challenge. As one analyst noted, “the question is whether this is another canary in the coalmine,” and policymakers and investors will be watching closely to see how the situation develops.
Government faces criticism from opposition MP over ‘double standards’ in public broadcasting funding
Opposition MP Alvick Maharaj has criticized the government for allegedly using public service broadcasting (PSB) grants as a political tool, rather than upholding their promises of transparency in media funding management. Speaking in Parliament, Mr. Maharaj claimed that the government and the Fiji Broadcasting Corporation (FBC) management have been inconsistent in their approach to PSB funding. He argued that when the current administration was in opposition, they advocated for PSB funding to be treated as a non-revenue grant, rather than a commercial fee, to reflect the company’s true financial state.
However, Mr. Maharaj stated that the latest financial report of the FBC shows that the funding is still being treated as income, despite the government’s reduction in PSB funding. He accused the government of using this accounting classification to gain political mileage, citing the FBC’s reported profit of $555,000 for 2024 as a “milestone achievement” that is misleading. Mr. Maharaj also questioned the distribution of government funding, noting that large, well-established media organizations continue to receive significant funding, while smaller, independent platforms struggle to survive.
He specifically mentioned Duavata News, RonCast, and North FM as examples of independent media outlets that are being left behind. Mr. Maharaj called on the new Minister for Finance to closely scrutinize how taxpayers’ money is being distributed, asking why multi-million-dollar companies are being funded to run government propaganda while new entrepreneurs are being neglected. He argued that this lack of transparency and equity in media funding is a concern that needs to be addressed. Overall, Mr. Maharaj’s criticism highlights the need for greater transparency and accountability in the management of PSB grants and the distribution of government funding to media outlets.
Utkarsh Small Finance Bank secures ₹950 crore through rights issue with legal counsel from CMS INDUSLAW.
CMS INDUSLAW, a law firm, has advised Utkarsh Small Finance Bank on a rights issue. The team that handled the transaction was led by Kaushik Mukherjee, a partner at the firm. He was assisted by a team of associates, including Anupam Chaudhary, a principal associate, Anumeha Agrawal, a senior associate, and Riya Sethia, an associate.
In addition to the main transaction team, other experts from the firm were also involved in the advisory process. This included tax law specialists, who were led by Lokesh Shah, a partner. He was supported by Gaurav Goyal, a principal associate, and Aarya Jha, an associate.
The rights issue is a significant development for Utkarsh Small Finance Bank, and the involvement of CMS INDUSLAW demonstrates the firm’s expertise in handling complex financial transactions. The team’s experience and knowledge of the relevant laws and regulations were crucial in ensuring the success of the rights issue.
The advice provided by CMS INDUSLAW covered various aspects of the rights issue, including the transaction itself and the tax law implications. The firm’s ability to provide comprehensive advice on both the transaction and tax law aspects of the rights issue highlights its capabilities as a full-service law firm.
The involvement of a team of experts from CMS INDUSLAW in the advisory process for Utkarsh Small Finance Bank’s rights issue demonstrates the firm’s commitment to providing high-quality advice to its clients. The firm’s expertise in handling complex financial transactions, combined with its knowledge of the relevant laws and regulations, makes it an ideal partner for businesses looking to navigate complex legal issues.
Overall, the advisory role played by CMS INDUSLAW in Utkarsh Small Finance Bank’s rights issue is a testament to the firm’s capabilities as a leading law firm. The firm’s expertise, experience, and commitment to providing high-quality advice make it a trusted partner for businesses operating in a range of industries.
In conclusion, CMS INDUSLAW has demonstrated its expertise in advising on complex financial transactions, including rights issues. The firm’s ability to provide comprehensive advice, combined with its knowledge of the relevant laws and regulations, makes it an ideal partner for businesses looking to navigate complex legal issues. The success of Utkarsh Small Finance Bank’s rights issue is a testament to the firm’s capabilities, and it is likely that CMS INDUSLAW will continue to play a major role in advising on similar transactions in the future.
District and Kotak Unveil Elite Culinary Delights with Exclusive Dining Experiences, Fueling Passion in the World of Marketing
District and Kotak have collaborated to introduce exclusive luxury dining experiences, catering to the refined tastes of discerning individuals. This partnership brings together the finest elements of culinary expertise, ambiance, and exceptional service, providing a unique experience for those who appreciate the art of fine dining.
The luxury dining experiences offer a range of options, from private chef’s tables to exclusive wine pairings, all designed to delight the senses. With a focus on using only the freshest, highest-quality ingredients, the culinary team at District has crafted menus that showcase the best of modern cuisine.
Kotak, a renowned name in the luxury lifestyle sector, has brought its expertise in curating unforgettable experiences to the table. The company’s attention to detail and commitment to excellence ensure that every aspect of the dining experience, from the ambiance to the service, is tailored to meet the highest standards.
One of the key highlights of this collaboration is the exclusive access to rare and exotic ingredients, carefully sourced from around the world. This allows the chefs at District to create truly innovative and unique dishes that are sure to impress even the most seasoned gourmands.
The private chef’s tables offer an intimate and immersive experience, where guests can witness the culinary magic firsthand. The chefs will guide guests through the preparation of each dish, sharing stories and insights into the inspiration behind each creation.
The wine pairings, carefully curated by expert sommeliers, complement the culinary delights perfectly. With a focus on rare and vintage wines, the pairings are designed to enhance the flavors and aromas of each dish, creating a truly harmonious experience.
This collaboration between District and Kotak is a testament to the power of partnership and the pursuit of excellence. By combining their expertise and passion for luxury, they have created an unparalleled dining experience that is sure to leave a lasting impression on those who are fortunate enough to indulge. Whether you’re a food connoisseur, a wine enthusiast, or simply someone who appreciates the finer things in life, this exclusive luxury dining experience is an opportunity not to be missed.
Hormis Memorial Foundation Scholarship Program for 2025-26 Now Accepting Applications Through Federal Bank
The Federal Bank Hormis Memorial Foundation is offering scholarships for the academic year 2025-26 to provide financial assistance to deserving students from economically weaker sections. The scholarship is open to students who have been admitted on merit to the first year of various professional courses, including MBBS, BDS, BVSc, BE, BTech, BArch, BSc Nursing, BSc Agriculture, and MBA or PGDM. Eligible candidates must be natives of specific states, including Andhra Pradesh, Gujarat, Karnataka, Kerala, Maharashtra, Tamil Nadu, or Telangana.
The program also extends to dependent wards of martyred Armed Forces personnel and students with speech, vision, or hearing impairments who are enrolled in recognized undergraduate or professional courses. Selected students will receive full reimbursement of tuition and other educational expenses up to INR 1 lakh per year during the regular course period. Additionally, they may receive support for a computer or tablet, with reimbursement up to INR 40,000 for a laptop and INR 30,000 for a tablet within the annual limit.
According to Rajanarayanan N, Chief Human Resources Officer at Federal Bank, the scholarship aims to provide opportunities for bright young minds to learn, grow, and contribute to the nation’s progress. The application process is online, and students can submit their applications through the Federal Bank Hormis Memorial Foundation Scholarship Portal by December 31, 2025.
The scholarship is a significant initiative by Federal Bank to support the education of deserving students and help them achieve their goals. By providing financial assistance, the bank aims to bridge the gap between talent and circumstance, allowing students to focus on their studies and build a better future for themselves. The scholarship is a testament to Federal Bank’s commitment to giving back to the community and supporting the development of young minds. With the application deadline just a few months away, eligible students are encouraged to apply and take advantage of this opportunity to pursue their higher education goals.
PetroChina’s target price has been revised upward to HKD 8.8, with a reconfirmed ‘Buy’ rating, solidifying its position as the top choice in the sector.
DBS has released a research report on PetroChina’s third-quarter performance, indicating that the company has slightly exceeded expectations. Despite a 15% year-on-year decline in oil prices, PetroChina’s net profit only decreased by 3.9% year-on-year. This resilience is attributed to the company’s ability to maintain stable operations and adapt to changing market conditions.
The report highlights that PetroChina’s business model has demonstrated a strong capacity to withstand fluctuations in oil prices. With oil prices currently at a healthy level of $65 per barrel, the company is expected to experience a recovery in its downstream operations. As a result, DBS anticipates that PetroChina’s net profit will remain stable, which will in turn support its dividend payouts.
DBS estimates that PetroChina’s dividend yield will be around 6% over the next two years, making it an attractive investment opportunity. The bank has reiterated its ‘Buy’ rating for PetroChina and raised its target price from HKD 8.02 to HKD 8.8. This upgrade reflects the company’s strong performance and its potential for future growth.
PetroChina’s ability to maintain stable operations and generate consistent profits has earned it the top spot in the industry, according to DBS. The company’s resilience in the face of declining oil prices is a testament to its robust business model and strategic management. As the energy sector continues to evolve, PetroChina is well-positioned to capitalize on emerging opportunities and maintain its market leadership.
Overall, DBS’s research report presents a positive outlook for PetroChina, citing its stable net profit, attractive dividend yield, and strong business model. With a ‘Buy’ rating and an upgraded target price, PetroChina is an attractive investment opportunity for those looking to capitalize on the company’s growth potential. As the energy sector continues to navigate changing market conditions, PetroChina’s resilience and adaptability make it a top pick in the industry.
Kotak Mahindra Bank partners with NSIC to boost MSME credit through a newly signed Memorandum of Understanding
The National Small Industries Corporation (NSIC) has taken a significant step to support Micro, Small, and Medium Enterprises (MSMEs) by entering into a Memorandum of Understanding (MOU) with Kotak Mahindra Bank. This agreement was signed on October 30, 2025, during the MSME Conclave held in Guwahati. The event was attended by several prominent figures, including Sushri Shobha Karandlaje, the Hon’ble Minister of State for MSME, Government of India.
The MOU was exchanged between Shri V Raghunath, Deputy General Manager (Finance) of NSIC, and Shri Ajay Mittal, Senior Executive Vice President of Kotak Mahindra Bank. The ceremony was witnessed by Dr. S. S. Acharya, Chairman and Managing Director of NSIC, among other dignitaries. This partnership aims to provide credit support to MSMEs through Kotak Mahindra Bank under the NSIC’s MSME Credit Facilitation Program.
The NSIC’s initiative is designed to facilitate access to credit for MSMEs, which are often faced with challenges in obtaining funding from traditional banking channels. By partnering with Kotak Mahindra Bank, the NSIC hopes to bridge this gap and provide MSMEs with the financial support they need to grow and expand their businesses. The MOU is expected to benefit a large number of MSMEs, particularly those in the northeastern region of India, where the MSME Conclave was held.
The presence of the Hon’ble Minister of State for MSME at the event underscores the government’s commitment to supporting the growth and development of MSMEs. The NSIC’s partnership with Kotak Mahindra Bank is a significant step towards achieving this goal, and it is expected to have a positive impact on the MSME sector in the country. With this agreement, the NSIC and Kotak Mahindra Bank are poised to make a meaningful contribution to the growth and development of MSMEs, which are a crucial part of India’s economy.
A federal appeals court in the 10th Circuit has upheld the decision to deny Custodia Bank’s application for a master account with the Federal Reserve System.
The United States Court of Appeals for the Tenth Circuit has upheld a lower court’s decision to deny a Federal Reserve master account to Custodia Bank, a digital asset bank. The ruling is a significant development in the ongoing debate over the regulation of cryptocurrency and digital assets in the United States.
Custodia Bank, a Wyoming-based bank, had applied for a Federal Reserve master account, which would have allowed it to access the Federal Reserve’s payment systems and provide banking services to its customers. However, the Federal Reserve Board of Governors denied the application, citing concerns about the bank’s business model and the risks associated with digital assets.
The Federal Reserve Board expressed concerns that Custodia Bank’s business model, which focuses on providing banking services to digital asset companies, posed a risk to the stability of the financial system. The board also noted that the bank’s plans to hold digital assets as collateral and provide loans to digital asset companies raised concerns about the bank’s ability to manage risk and maintain adequate capital levels.
Custodia Bank challenged the Federal Reserve Board’s decision in court, arguing that the board had exceeded its authority and had unfairly discriminated against the bank. However, the district court ruled in favor of the Federal Reserve Board, finding that the board had acted within its authority and had provided sufficient reasons for denying the application.
On appeal, the Tenth Circuit Court of Appeals affirmed the district court’s decision, holding that the Federal Reserve Board had acted within its authority and had provided sufficient reasons for denying the application. The court found that the board’s concerns about the bank’s business model and the risks associated with digital assets were legitimate and that the board had followed the proper procedures in denying the application.
The ruling is a significant setback for Custodia Bank and other digital asset companies that are seeking to access the traditional banking system. It highlights the ongoing challenges faced by digital asset companies in obtaining access to banking services and the need for greater clarity and guidance from regulators on the regulation of digital assets. The ruling also underscores the importance of the Federal Reserve’s role in maintaining the stability of the financial system and the need for careful consideration of the risks associated with new and innovative financial products and services.
Portfolio Strategy and Business (PSB) Investment Planning and Research
As of November 3, 2025, the Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB:CA) has been analyzed, and trading plans have been generated. For long-term trading, two plans are suggested. The first plan involves buying near $18.09 with a target of $18.24 and a stop loss at $18.00. The second plan involves shorting near $18.24 with a target of $18.09 and a stop loss at $18.33.
The ratings for PSB:CA as of November 3 are neutral across all terms: near, mid, and long. These ratings indicate that the ETF does not show a strong inclination towards either an upward or downward trend in the short, medium, or long term, suggesting stability but lack of clear direction.
The AI-generated signals for PSB:CA are part of an updated analysis, emphasizing the importance of considering the time stamp on the data, as market conditions can change rapidly. The signals are designed to help investors make informed decisions about their investments in the ETF.
For investors looking to trade PSB:CA, understanding the current market conditions and how they might impact the ETF is crucial. The neutral ratings across all terms suggest that the ETF is not experiencing significant volatility or trends, which could indicate a period of stability. However, the trading plans provided suggest there are opportunities for both buying and shorting, depending on the investor’s strategy and risk tolerance.
It’s essential for investors to consult the most recent data and analysis before making any investment decisions. The availability of updated AI-generated signals for PSB:CA indicates that investors have access to dynamic and potentially adaptive investment advice that can reflect changing market conditions.
In conclusion, as of November 3, 2025, the Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB:CA) presents a neutral outlook across different time frames, with specific trading plans suggested for long-term investment strategies. Investors should stay informed and adapt their strategies according to the latest market analysis and AI-generated signals to navigate the investment landscape effectively.
Revolutionary Free DBS Procedure at NIMS Hyderabad Brings New Hope to Patients
A young man born deaf and mute, suffering from severe involuntary movements in his hands and legs, has found hope at the Nizam’s Institute of Medical Sciences (NIMS) in Hyderabad. Despite seeking treatment at various private hospitals, his family was unable to afford the high costs, with some quotes reaching several lakhs of rupees. However, at NIMS, the patient underwent a complex procedure called Deep Brain Stimulation (DBS) that restored control over his movements, free of cost under the Aarogyasri and Chief Minister’s Relief Fund schemes.
DBS is an advanced neurosurgical procedure that treats neurological and movement disorders by implanting a device with electrodes in specific areas of the brain. The device delivers controlled electrical impulses to targeted brain regions, regulating abnormal brain activity and reducing tremors, stiffness, and involuntary movements. This allows patients to regain control over their bodies and perform daily activities independently.
Over the past year, around 130 patients have undergone DBS treatment at NIMS, with more than 100 treated under the Aarogyasri and Chief Minister’s Relief Fund schemes. Those not covered under these schemes were offered the treatment at a minimal expense compared to corporate hospitals. DBS has proven highly effective in helping patients overcome severe movement disorders and neurological conditions, restoring dignity and independence to their lives.
The treatment is primarily used to treat conditions such as Parkinson’s disease, epilepsy, dystonia, tremors, and certain psychiatric disorders like severe depression. DBS can dramatically improve the quality of life for patients who have not responded well to medications. In contrast to private hospitals, which charge nearly Rs 25 lakh for the procedure, NIMS provides DBS treatment at no cost or at a significantly reduced expense, making it accessible to those who cannot afford it otherwise. This initiative has brought hope to many patients and their families, offering a chance to regain control over their lives and live with dignity.
Rajeev Yadav, Deputy CEO of AU Small Finance Bank, has submitted his resignation, which will take effect on October 31, as reported by People Matters India.
Rajeev Yadav, the Deputy CEO of AU Small Finance Bank, has tendered his resignation, effective October 31. The news was announced by the bank, stating that Yadav will be leaving his position after a stint of over four years. Yadav was one of the key members of the bank’s leadership team and played a crucial role in shaping its strategy and growth.
During his tenure, Yadav was responsible for driving the bank’s business growth, overseeing operations, and implementing digital transformation initiatives. He was also instrumental in building and maintaining relationships with key stakeholders, including customers, investors, and regulators. Under his leadership, the bank expanded its presence across the country, increased its customer base, and introduced new products and services.
Yadav’s resignation comes at a time when the bank is undergoing a significant transformation, driven by the changing landscape of the financial services industry. The bank has been investing heavily in digital technologies, such as artificial intelligence, machine learning, and data analytics, to enhance customer experience and improve operational efficiency.
The bank’s management has expressed gratitude to Yadav for his contributions and wished him the best for his future endeavors. The search for a new Deputy CEO is expected to begin soon, and the bank is likely to look for a candidate with a strong background in banking, finance, and digital transformation.
Yadav’s departure is not expected to have a significant impact on the bank’s operations, as the management team is well-equipped to handle the transition. The bank has a strong leadership team in place, and the CEO, Sanjay Agarwal, will continue to lead the organization.
The resignation of Yadav is a significant development in the Indian banking industry, which has seen several high-profile exits in recent times. The industry is undergoing a period of significant change, driven by technological advancements, changing customer behavior, and increasing competition. As a result, banks are looking for leaders who can navigate these changes and drive growth, innovation, and digital transformation.
In conclusion, Rajeev Yadav’s resignation as Deputy CEO of AU Small Finance Bank marks the end of an era, but the bank is well-positioned to continue its growth trajectory under the leadership of its CEO and the existing management team. The search for a new Deputy CEO will be an opportunity for the bank to bring in fresh perspectives and ideas, and to drive its digital transformation agenda forward.
Equitas Small Finance Bank Bolsters Executive Team with Appointment of New President of Finance, as reported on scanx.trade
Equitas Small Finance Bank has announced the appointment of a new President-Finance, strengthening its leadership team. This move is expected to enhance the bank’s financial management and strategy, driving growth and expansion. The new President-Finance brings a wealth of experience in banking and finance, with a proven track record of success in previous roles.
The appointment is seen as a significant step forward for Equitas Small Finance Bank, which has been expanding its operations and services in recent years. The bank has been focusing on digital transformation, improving customer experience, and increasing its reach in underserved markets. The new President-Finance is expected to play a key role in driving these initiatives and ensuring the bank’s long-term sustainability.
Equitas Small Finance Bank has been committed to providing financial services to the underserved and unbanked populations in India. The bank has a strong presence in rural and semi-urban areas, with a network of branches and banking outlets. The new President-Finance will be responsible for overseeing the bank’s financial planning, budgeting, and risk management, as well as driving business growth and expansion.
The appointment is also seen as a testament to the bank’s commitment to attracting and retaining top talent. The new President-Finance joins a team of experienced professionals who are dedicated to driving the bank’s mission and vision. The bank’s leadership team is expected to work closely with the new President-Finance to ensure a smooth transition and to drive the bank’s future growth.
In terms of the bank’s financial performance, Equitas Small Finance Bank has been reporting strong growth in recent years. The bank’s net profit has been increasing consistently, driven by a strong loan book and improving asset quality. The bank’s capital adequacy ratio is also strong, providing a comfortable cushion for future growth.
Overall, the appointment of a new President-Finance is a positive development for Equitas Small Finance Bank, demonstrating the bank’s commitment to strengthening its leadership team and driving future growth. With a strong leadership team in place, the bank is well-positioned to continue its expansion and to achieve its mission of providing financial services to the underserved and unbanked populations in India. The bank’s focus on digital transformation, customer experience, and financial inclusion is expected to drive long-term sustainability and growth, making it an exciting time for the bank and its stakeholders.
Federal Bank Surges to a New 52-Week Peak of Rs. 238.9, Reflecting Robust Market Momentum
Federal Bank has reached a new 52-week high of Rs. 238.9 on November 3, 2025, demonstrating its strong performance in the private banking sector. The bank has consistently gained over the past three days, with a total return of 1.77%, and is outperforming its sector by 0.98% today. This achievement is a testament to the bank’s robust upward trend, as it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
In comparison to the broader market, Federal Bank’s one-year performance is impressive, standing at 16.23%, which significantly surpasses the Sensex’s performance of 5.33% during the same period. The Sensex is currently recovering from an initial dip and is trading at 83,975.93, just 1.56% away from its own 52-week high. The small-cap segment is also performing well, with the BSE Small Cap index gaining 0.62% today.
Federal Bank’s strong performance can be attributed to its consistent gains over the past three days, as well as its ability to outperform the market. The bank’s technical indicators are also positive, with its moving averages indicating a robust upward trend. This suggests that Federal Bank is well-positioned in the market and is likely to continue its strong performance in the future.
Overall, Federal Bank’s achievement of a new 52-week high is a significant milestone, demonstrating its strength and resilience in the private banking sector. The bank’s consistent gains, positive technical indicators, and impressive one-year performance make it an attractive investment opportunity. As the broader market continues to recover, Federal Bank is likely to remain a strong player, with its robust upward trend and outperformance of the sector.
ET Startup Awards 2025: IDFC First Bank CEO emphasizes the necessity of broadening the funding landscape for startups
The Indian startup ecosystem is facing a significant challenge in terms of accessing capital, according to V Vaidyanathan, the chief executive and managing director of IDFC First Bank. Speaking at the ET Startup Awards, Vaidyanathan expressed concern over the low funding rate for new ventures, stating that even the most innovative ideas are failing due to lack of adequate financial backing. He cited a disturbing conversion rate of only 40-50 startups receiving financing out of approximately 1,000 that pitch to venture capital firms.
Vaidyanathan emphasized the need to expand the availability of capital for Indian startups, highlighting the huge potential for disruption, particularly from campuses and tier-2 and -3 cities. He suggested that entities such as colleges, which are currently unable to invest in venture capital funds due to their not-for-profit status, be permitted to do so to expand the pool of capital. This, he believes, would help to address the funding gap and provide more opportunities for innovative ideas to flourish.
India’s startup ecosystem has been thriving in recent years, with the government playing a significant role in improving the country’s global image. However, Vaidyanathan believes that more needs to be done to support the growth of startups, particularly in terms of access to capital. IDFC First Bank is working on developing a technology stack to cater to the needs of Indian startups, which is a positive step towards addressing the funding gap.
Overall, Vaidyanathan’s comments highlight the urgent need for increased access to capital for Indian startups. With the right support and funding, India’s startup ecosystem has the potential to drive innovation and growth, creating new opportunities for entrepreneurs and businesses across the country. By expanding the pool of capital and providing more opportunities for funding, India can unlock the full potential of its startup ecosystem and cement its position as a hub for innovation and entrepreneurship.
Ujjivan Small Finance Bank Touches Fresh 52-Week Peak at Rs. 54.56
Ujjivan Small Finance Bank has achieved a significant milestone by reaching a new 52-week high of Rs. 54.56 on October 28, 2025. This accomplishment reflects the bank’s strong performance over the past year, with a remarkable 45.41% increase in value. In comparison, the Sensex has only gained 6.04% during the same period, indicating Ujjivan Small Finance Bank’s outperformance.
Despite a slight underperformance of 1.1% against its sector on the day, the bank has demonstrated resilience by trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This trend suggests a robust market position for the small-cap bank, indicating its ability to maintain upward momentum.
The broader market context is also positive, with the Sensex recovering from an initial dip and currently trading at 84,834.72, just 0.54% away from its own 52-week high. The small-cap segment is leading the market, with the BSE Small Cap index gaining 0.39%. Ujjivan Small Finance Bank’s recent performance highlights its strong standing in the financial sector and marks a notable achievement in its growth trajectory.
The bank’s ability to outperform the Sensex and maintain a strong market position is a testament to its solid fundamentals and growth prospects. As the small-cap segment continues to lead the market, Ujjivan Small Finance Bank is well-positioned to capitalize on the trend and continue its upward momentum. With its strong performance and robust market position, the bank is likely to remain a key player in the financial sector, attracting investor attention and driving growth in the small-cap segment.
Overall, Ujjivan Small Finance Bank’s achievement of a new 52-week high is a significant milestone that reflects its strong performance and growth prospects. The bank’s ability to maintain a robust market position and outperform the Sensex is a testament to its solid fundamentals and potential for future growth. As the market continues to recover, Ujjivan Small Finance Bank is likely to remain a key player in the financial sector, driving growth and attracting investor attention.
Plug Power to provide electrolyzers for eco-friendly SAF and diesel production in Uzbekistan, as reported by UzDaily.uz
Plug Power Inc., a global leader in integrated hydrogen solutions, has signed a binding supply agreement with Allied Biofuels FE LLC (ABF) to deliver up to 2 GW of GenEco PEM electrolyzer systems. The agreement supports ABF’s development of sustainable aviation fuel (SAF), electro-synthetic SAF (eSAF), and “green” diesel in Uzbekistan. The final investment decision is expected in the fourth quarter of 2026. This contract raises Plug Power’s total contracted electrolyzer capacity with partners to 5 GW across two large-scale projects, including a previously announced collaboration with Allied Green Ammonia (AGA) in Australia for 3 GW.
The agreement was signed during a visit by Plug CEO Andy Marsh to Australia, where he met with project developers and energy partners to explore additional opportunities in hydrogen and liquid fuel. This contract is one of the largest announced in 2025 for electrolyzer supply, highlighting Plug’s growing role in advancing large-scale renewable fuel production in Central Asia. According to Andy Marsh, “This agreement demonstrates that Plug is executing projects that others are only planning. We are turning hydrogen commitments into real, multi-gigawatt operational projects.”
The partnership with Plug enables ABF to achieve the necessary scale, reliability, and performance to meet global demand for low-carbon fuel, marking a key milestone toward the final investment decision. Allied Biofuels Chairman Alfred Benedict emphasized the importance of this partnership in supporting the global transition to clean energy, reducing emissions in aviation and transport, and ensuring long-term energy sustainability and climate security.
Plug Power’s expanding presence in the Asia-Pacific region and Central Asia strengthens its position as a leading supplier of electrolyzers for renewable fuel and hydrogen energy projects. The company is actively promoting hydrogen and fuel cell technology adoption in South Korea, India, and Japan, supporting the integration of clean hydrogen into power generation, fuel synthesis, and industrial processes. With a fully integrated ecosystem covering production, storage, transportation, and energy generation, Plug Power is building a global hydrogen economy, providing electrolyzers, liquid hydrogen, fuel cells, storage tanks, and refueling infrastructure to industrial and energy enterprises.
Across five continents, Plug has deployed over 72,000 fuel cell systems and 275 refueling stations, supporting large-scale hydrogen projects, including production of up to 40 tons of hydrogen per day at facilities in Georgia, Tennessee, and Louisiana. Clients include major companies such as Walmart, Amazon, Home Depot, BMW, and BP. The company’s technologies will be deployed at ABF’s flagship facility in Uzbekistan, a strategically important site for supplying global sustainable fuel markets. Overall, the agreement demonstrates Plug Power’s commitment to advancing the global hydrogen economy and supporting the transition to clean energy.
Federal Bank Seeks Entries for Sahithya Puraskaram Award 2025
The Federal Bank has announced the fourth edition of its prestigious Federal Bank Literary Award, which recognizes outstanding contributions to Malayalam literature. The award comes with a cash prize of ₹1 lakh and a memento, and is open to original Malayalam works published between November 1, 2024, and October 31, 2025. Authors, publishers, and readers can nominate up to three books each through a link on the bank’s website, with the last date for nominations being November 15, 2025.
According to MVS Murthy, Chief Marketing Officer of Federal Bank, the award is a tribute to the power of words and the writers who shape the cultural narrative, spark conversations, and preserve the richness of the language. A distinguished panel of literary experts will review all eligible entries and select the winning book, which will be presented at the Kerala Literature Festival 2026 in January.
The Federal Bank Literary Award has a history of recognizing exceptional works in Malayalam literature. Past winners include “Oranveshanathinte Katha” by K Venu, “Kara” by Sara Joseph, and “Thapomayiyute Achan” by E Santhosh Kumar, all of which have made significant contributions to the language and inspired new generations of readers. The award is a celebration of the writers who continue to enrich Malayalam literature and promote the language.
The nomination process is straightforward, and the bank encourages authors, publishers, and readers to participate by submitting their nominations through the link on the website. With a deadline of November 15, 2025, there is still time for interested parties to submit their nominations. The winner will be announced at the Kerala Literature Festival 2026, which promises to be a significant event in the literary calendar. Overall, the Federal Bank Literary Award is a prestigious recognition of excellence in Malayalam literature, and its fourth edition is expected to be a notable event in the literary world.
Probe into simultaneous housing benefit claims by PSB put on ice
The Pakistan Sports Board (PSB) has been embroiled in a controversy surrounding alleged cases of dual housing benefits and unauthorized self-hiring payments. An inquiry was launched to investigate several officials, including high-ranking employees, who were accused of availing hostel accommodation while also receiving self-hiring allowances, in clear violation of government housing regulations. The accused officials include Assistant Director Ghulam Taqi Khan, Senior Weightlifting Coach Zeeshan Ahmad, and several others.
A high-level inquiry committee was formed to probe the matter and identify those responsible, with a two-week deadline to submit its report. The committee was tasked with recommending disciplinary action and recovery of unauthorized payments. However, despite the deadline, the report remains incomplete, and no action has been taken against the accused officials. The inquiry was ordered by PSB Director General Yasir Pirzada, who had suspended self-hiring payments to the concerned employees pending the outcome of the probe.
The delay in completing the inquiry has raised concerns over transparency and internal accountability within the PSB. Sources within the organization have confirmed that the report has yet to be finalized, and the issue appears to have been quietly shelved. This has cast doubts on the seriousness of the investigation and the Board’s commitment to financial accountability. The prolonged delay has also led to speculation that the inquiry may have been put on hold to protect certain officials or to avoid embarrassing the organization.
The PSB’s failure to complete the inquiry and take disciplinary action against the accused officials has undermined the organization’s credibility and raised questions about its ability to manage its finances effectively. The incident has also highlighted the need for greater transparency and accountability within the PSB, particularly in relation to the use of public funds. The organization must take immediate action to complete the inquiry and take disciplinary action against those found guilty of violating government regulations.
How Will Supply Chain Disruptions Affect Suryoday Small Finance Bank Limited’s Growth? – Assessing Geopolitical Risks and Uncovering Untapped Market Potential, Exclusive Insights on earlytimes.in
The article discusses the potential impact of supply chain issues on Suryoday Small Finance Bank Limited’s performance, considering the current geopolitical landscape. The bank, which operates in the microfinance sector, has been expanding its operations and has shown promising growth in recent years. However, the ongoing supply chain disruptions, fueled by the COVID-19 pandemic and geopolitical tensions, may pose a significant risk to the bank’s performance.
The article highlights that the bank’s business model relies heavily on the availability of raw materials, logistics, and transportation. Any disruptions to these supply chains can lead to increased costs, reduced efficiency, and ultimately, a negative impact on the bank’s bottom line. The bank’s microfinance operations, which involve lending to small businesses and individuals, are particularly vulnerable to supply chain disruptions, as these borrowers often rely on timely access to goods and services to operate their businesses.
The article also notes that the current geopolitical tensions, particularly between the US and China, have led to increased trade restrictions, tariffs, and sanctions, which can further exacerbate supply chain disruptions. The ongoing conflict between Russia and Ukraine has also led to disruptions in global energy markets, which can have a ripple effect on supply chains.
To mitigate these risks, the article suggests that Suryoday Small Finance Bank Limited should consider diversifying its supply chain, identifying alternative sources of raw materials and logistics, and investing in digital technologies to improve supply chain visibility and resilience. The bank should also consider hedging against potential currency fluctuations and interest rate changes, which can impact its lending operations.
The article concludes that while supply chain issues pose a significant risk to Suryoday Small Finance Bank Limited’s performance, the bank can take proactive steps to mitigate these risks and unlock hidden market opportunities. By diversifying its supply chain, investing in digital technologies, and hedging against potential risks, the bank can minimize the impact of supply chain disruptions and continue to grow its operations. The article also notes that the bank’s strong management team and robust risk management framework will be crucial in navigating these challenges and capitalizing on emerging opportunities.
Overall, the article provides a comprehensive analysis of the potential impact of supply chain issues on Suryoday Small Finance Bank Limited’s performance, highlighting both the risks and opportunities that arise from the current geopolitical landscape. By understanding these risks and taking proactive steps to mitigate them, the bank can ensure its continued growth and success in the microfinance sector.
The Los Angeles Chargers have confirmed that defensive backs Tarheeb Still and Tony Jefferson will miss Sunday’s game due to injury.
The Los Angeles Chargers will be without several key players for their upcoming game against the Tennessee Titans on Sunday. Cornerback Tarheeb Still and safety Tony Jefferson have been ruled out due to injuries sustained during the team’s 37-10 victory over the Minnesota Vikings last Thursday. Still injured his knee, while Jefferson hurt his hamstring. Running back Hassan Haskins will also miss the game due to a hamstring injury, marking his second consecutive game on the sidelines.
The absence of Still and Jefferson leaves the Chargers short-handed in the secondary, particularly after the team traded away safety Alohi Gilman to the Baltimore Ravens earlier this month. To fill the void, Nikko Reed is expected to play for the first time since September 21, when the Chargers defeated the Denver Broncos. Defensive coordinator Jesse Minter expressed confidence in Reed, saying he can bring a “spark” and “juice” to the team.
Fortunately, safety Derwin James Jr. is expected to play despite spraining his ankle in the first quarter of the game against the Vikings. However, the Chargers’ running back corps remains depleted, with Haskins joining Najee Harris (season-ending Achilles tendon injury) and Omarion Hampton (ankle injury) on the sidelines. Kamani Vidal and Jaret Patterson are the only healthy running backs available for the team.
In addition to the confirmed absences, several players are listed as questionable for Sunday’s game, including right guard Mekhi Becton (knee), tight end Will Dissly (illness), long snapper Josh Harris (chest), and defensive back Deane Leonard (knee). The Chargers have opened the window for Harris and Leonard to return from injured reserve, which could provide a boost to the team’s depth. Overall, the Chargers will need to navigate these injuries and make adjustments to their lineup in order to secure a win against the Titans on Sunday.
According to an internal email, Federal Reserve’s Bowman intends to downsize the bank supervision division by roughly 30%, as reported by Reuters.
Federal Reserve Governor Michelle Bowman plans to reduce the bank-supervision unit by approximately 30%, as revealed in an email. This decision is part of a broader effort to reorganize and streamline the Fed’s supervisory operations. The move aims to improve efficiency and focus on high-priority areas, such as financial stability and consumer protection.
The bank-supervision unit is responsible for overseeing and regulating banks, thrifts, and other financial institutions to ensure their safety and soundness, as well as compliance with regulations. The unit’s reduction is expected to affect various aspects of bank supervision, including on-site exams, enforcement actions, and policy development.
The planned 30% cut is significant, and it may raise concerns about the Fed’s ability to effectively supervise and regulate the banking sector. Some critics argue that reducing the supervision unit’s resources could compromise the Fed’s ability to identify and address potential risks to financial stability. Others, however, see the move as an opportunity to modernize and improve the supervision process, eliminating unnecessary or redundant functions.
Bowman’s email suggests that the reduction will be achieved through a combination of attrition, retirements, and reassignments. The Fed plans to retain staff with critical skills and expertise, while streamlining processes and leveraging technology to enhance supervision efficiency. The goal is to create a more agile and effective supervision unit, better equipped to address emerging risks and challenges in the banking sector.
The reduction in the bank-supervision unit is part of a larger effort by the Fed to reassess its priorities and allocate resources more effectively. The central bank is seeking to balance its supervisory responsibilities with other critical functions, such as monetary policy and financial stability. By streamlining its supervision operations, the Fed aims to enhance its overall effectiveness and better support the stability and resilience of the US financial system.
The planned reduction in the bank-supervision unit has sparked debate among industry experts and policymakers. While some see it as a necessary step to improve efficiency and focus on high-priority areas, others are concerned about potential risks to financial stability. As the Fed moves forward with its plans, it will be important to monitor the impact of the reduction on the supervision unit’s effectiveness and the overall stability of the banking sector.
The Managing Director and Chief Executive Officer of the Central Bank of India has pledged to provide increased support to corporate clients.
Kalyan Kumar, the Managing Director and Chief Executive Officer of Central Bank of India, recently visited Hyderabad on October 29 and 30. This was his first visit to the city since assuming office on September 30. During his trip, Kumar participated in a Corporate Customer Meet organized by the Hyderabad Zone, where he was joined by senior officials, including Zonal Head Dharasing Naik and General Managers Vasti Venkatesh and Sanju Manglurkar.
The event attracted significant attention from prominent corporates and export industry representatives, who engaged in discussions with Kumar and the other officials. Kumar emphasized the bank’s renewed focus on corporate lending as a key driver of sustained growth and stable income. He met with clients from various sectors, including NBFC, manufacturing, EPC, infrastructure, realty, pharmaceutical, and agri sectors, to understand their financial requirements and explore opportunities for enhanced collaboration.
Kumar assured the clients that the bank would provide timely support for working capital and project funding, encouraging the Hyderabad Zonal Office to strengthen existing relationships and forge new ones. He highlighted the region’s strong business potential and expressed confidence in achieving significant growth in corporate advances in the coming quarters. This, he believes, will contribute to the bank’s commitment to India’s economic progress and overall business expansion across retail, agriculture, and MSME segments.
The visit marked an important milestone in Kumar’s tenure as CEO, as he seeks to drive growth and strengthen the bank’s position in the corporate lending space. By engaging with clients and understanding their needs, Kumar aims to leverage the bank’s capabilities to support the growth of businesses in the region and contribute to the country’s economic development. Overall, the visit was seen as a positive step towards reinforcing the bank’s commitment to its customers and the broader economy.
The Federal Reserve Plans to Slash its Bank Oversight Team by Nearly a Third, Reports The Wall Street Journal
The Federal Reserve has announced plans to reduce its bank supervision staff by 30% over the next few years. This move is part of a broader effort to reorganize and streamline the central bank’s regulatory operations. The reduction in staff will primarily affect the Fed’s Division of Banking Supervision and Regulation, which is responsible for overseeing and regulating banks and other financial institutions.
The Fed’s decision to downsize its supervision staff is driven by several factors. One reason is the significant improvement in the financial health of banks since the 2008 financial crisis. Banks have built up their capital buffers and strengthened their risk management practices, reducing the need for intense regulatory scrutiny. Additionally, advances in technology have enabled the Fed to automate many routine supervisory tasks, allowing it to conduct more efficient and effective oversight with fewer staff.
The reduction in staff will not compromise the Fed’s ability to ensure the safety and soundness of the financial system. The central bank will continue to maintain a robust supervisory framework, with a focus on high-risk areas such as consumer protection, cybersecurity, and financial stability. The Fed will also continue to conduct regular exams and inspections of banks, as well as monitor their compliance with regulatory requirements.
The Fed’s decision to reduce its supervision staff is also part of a broader trend towards more efficient and effective regulation. The central bank has been working to simplify and streamline its regulatory framework, eliminating unnecessary requirements and reducing regulatory burdens on banks. This effort aims to promote economic growth and innovation, while maintaining the stability of the financial system.
The impact of the staff reduction on the Fed’s operations is expected to be minimal. The central bank has already begun to reassign staff to other areas, such as monetary policy and research, where their skills and expertise can be better utilized. The Fed has also implemented measures to ensure a smooth transition, including providing training and support to affected staff.
Overall, the Federal Reserve’s decision to reduce its bank supervision staff by 30% reflects its confidence in the resilience and stability of the financial system. By streamlining its regulatory operations and leveraging technology, the Fed can maintain its effectiveness while reducing costs and promoting economic growth. As the financial system continues to evolve, the Fed will remain vigilant and adapt its supervisory approach to address emerging risks and challenges.
DBS and Goldman Sachs make history with inaugural interbank over-the-counter cryptocurrency options trade, as reported by Asian Banking & Finance
DBS and Goldman Sachs have successfully completed the first interbank over-the-counter (OTC) crypto options trade. This milestone marks a significant development in the adoption of cryptocurrencies in traditional finance. The trade was facilitated by DBS, a leading Asian bank, and Goldman Sachs, a global investment banking giant.
The OTC crypto options trade allows banks to hedge their exposure to cryptocurrency price fluctuations, providing a new risk management tool for institutions involved in crypto trading. This innovation enables banks to better manage their risks and increase their participation in the crypto market.
The completion of this trade demonstrates the growing collaboration between traditional financial institutions and the crypto industry. It highlights the increasing recognition of cryptocurrencies as a legitimate asset class, with traditional banks and financial institutions seeking to provide services and products related to digital assets.
DBS has been at the forefront of crypto adoption in Asia, having launched a digital exchange for cryptocurrencies in 2020. The bank has also partnered with other financial institutions to develop a blockchain-based platform for trading digital assets.
Goldman Sachs, on the other hand, has been actively involved in crypto trading and investment, having launched a crypto trading desk in 2018. The bank has also invested in several crypto-related startups and has developed its own blockchain-based platform for securities lending.
The successful completion of the first interbank OTC crypto options trade has significant implications for the crypto industry. It demonstrates the growing maturity of the market and the increasing involvement of traditional financial institutions. As more banks and financial institutions participate in crypto trading and investment, it is likely to lead to greater mainstream adoption and increased liquidity in the market.
The trade also highlights the importance of collaboration and innovation in the financial industry. By working together, traditional financial institutions and crypto companies can develop new products and services that meet the evolving needs of investors and institutions. As the crypto market continues to grow and evolve, it is likely that we will see more innovative products and services emerge, further solidifying the position of cryptocurrencies in traditional finance.
The Fed cuts its benchmark interest rate by 25 basis points
The Federal Reserve has cut its main interest rate by a quarter point to a range of 3.75% to 4%, marking the second rate reduction this year. The decision was made after a two-day meeting, with Fed Chair Jerome Powell warning of “strongly differing views” on how to proceed with rates in the future. Two members, Stephen I. Miran and Jeffrey R. Schmid, dissented from the decision, with Miran advocating for a half-point cut and Schmid advocating for no change.
The rate cut comes as the Fed navigates a delicate balance between reducing inflation and achieving maximum employment. Inflation rose less than expected in September, but still remains above the Fed’s 2% target, while job gains have slowed significantly. Powell noted that the risks are to the upside for inflation and to the downside for employment, making it challenging for the Fed to address both issues simultaneously.
The Fed’s median projection released in September forecast two further quarter-point cuts in 2025, but differing views among committee members have thrown a potential December cut into question. Powell emphasized that a further reduction in the policy rate at the December meeting is “not a foregone conclusion” and that the Fed will carefully consider the data before making a decision.
Traders currently see approximately 66% odds of a quarter-point cut in December, according to the FedWatch tool. Powell also highlighted other complications for the Fed, including uncertainty regarding tariffs, the potential impact of artificial intelligence investment, and the government shutdown, which has left the central bank without key data.
The Fed is taking a cautious approach, with Powell noting that “what do you do when you’re driving in a fog? You slow down.” The central bank is also monitoring the potential impact of AI on the economy and labor market, with Powell acknowledging that it could have implications for job creation. However, he noted that the initial claims data does not yet show a significant impact, and that investments in AI are driven by longer-term assessments of the technology’s potential to drive higher productivity. Overall, the Fed’s decision reflects its ongoing efforts to balance its dual mandate and navigate a complex economic landscape.
Explore the 3 distinctive Fixed Deposit schemes offered by the Central Bank of India, including their corresponding interest rates and key features.
The Central Bank of India, a leading public sector bank, offers various fixed deposit (FD) schemes with competitive interest rates and features. The bank’s interest rates range from 3.50% to 6.50% for regular fixed deposits, with senior citizens receiving an additional 0.50% interest. However, the bank also offers three unique FD schemes that provide higher returns than regular FDs. These schemes are designed to cater to the diverse needs of customers and offer benefits such as higher interest rates, flexible tenures, and premature withdrawal options.
The three unique FD schemes offered by the Central Bank of India are:
- Cent Super Callable Time Deposit (444 days): This scheme has a minimum investment amount of ₹10,000 and a maximum amount of ₹10 crore. It offers 6.50% interest for general citizens and 7% for senior citizens. The scheme allows free mature withdrawals and can be opened both online and offline.
- Cent Super Time Deposit (555 days): This scheme also has a minimum investment amount of ₹10,000 and a maximum amount of ₹10 crore. It offers 6.50% interest for general citizens and 7% for senior citizens. The scheme allows premature withdrawal and online account opening.
- Cent Green Time Deposit Scheme: This scheme offers three tenure options: 1111 days, 2222 days, and 3333 days. For the 1111-day FD, the bank offers 6.50% interest for general citizens and 7% for senior citizens. For the 2222-day and 3333-day FDs, the bank offers 6.75% interest for general citizens and 7.25% for senior citizens.
These unique FD schemes offer higher interest rates than regular FDs, making them attractive options for customers looking to invest their savings. Additionally, the schemes offer flexible tenures and premature withdrawal options, providing customers with greater control over their investments. Overall, the Central Bank of India’s FD schemes are designed to cater to the diverse needs of customers and provide competitive returns on their investments.
Flipkart’s SuperCoins partners with Kotak 811 to revolutionize India’s UPI payment landscape with zero-fee transactions
India’s digital payments landscape has undergone a significant transformation with the introduction of the Unified Payments Interface (UPI), which has made instant bank transfers free and ubiquitous. However, this success has left little room for fintech companies to profit, as regulators do not allow merchant fees that typically fund rewards and credit programs. To address this challenge, Super.money, the fintech arm of Flipkart, has partnered with Kotak Mahindra Bank to offer a bundled product that combines UPI payments, savings, and secured credit into a single account.
The partnership aims to issue around 2 million secured credit cards in the next 12 months, with approximately 60% going to first-time borrowers. Super.money expects the Kotak alliance to contribute around 10% of its revenue next year, as it works towards profitability by 2026. The company’s CEO, Prakash Sikaria, noted that the partnership will help Super.money build a viable business model atop the no-fee payment system.
Super.money has already gained significant traction, processing over 200 million transactions per month and generating around $3 million in monthly revenue. The company’s business model rests on two monetization engines: financial services and commerce. Sikaria plans to introduce a “pay-in-three” model on top of commerce, allowing customers to buy now and pay later within the Super.money ecosystem.
The partnership with Kotak Mahindra Bank provides Super.money with access to a large, regulated banking infrastructure. The companies have introduced a “3 in 1 Super Account” that combines a savings account, UPI payments, and a fixed-deposit-backed secured credit card. To open this account, users need to make a fixed deposit of at least ₹1,000 (around $11), which earns interest and offers cashback on every transaction.
Super.money plans to issue around 200,000 secured cards per month under its partnership with Kotak, with the goal of expanding to other banks in the future. The company has received around $50 million in investment from Flipkart and plans to raise additional capital to support its growth. Sikaria noted that Super.money is focusing on India’s top 10 million to 30 million users, rather than competing with mass-market payment players, and aims to build a formidable secured card franchise with a profitable P&L.
For the second consecutive meeting, the Federal Reserve trimmed interest rates by 0.25%, despite opposition from two officials, as the US government shutdown poses growing economic concerns.
The Federal Reserve has cut interest rates for the second time in a row, reducing its benchmark rate to a range of 3.75% to 4.00%. The decision was made despite the ongoing government shutdown, which has left policymakers without key data to guide monetary policy. The central bank’s move was not unanimous, with two members dissenting from the decision. President Trump’s newly appointed governor, Stephen Miran, wanted to cut rates by half a percentage point, while Kansas City Fed president Jeff Schmid favored holding rates steady.
The Fed’s decision to cut rates was influenced by concerns about the economic outlook, including renewed trade tensions with China and the potential impact of tariffs on the labor market. However, the central bank also acknowledged that inflation remains above its 2% target, and that the job market has slowed down this year. The unemployment rate has edged up, but remains low.
The government shutdown has made it difficult for policymakers to assess the state of the economy, with key data such as the September jobs report and October inflation data still unpublished. The Fed’s statement acknowledged the challenges posed by the shutdown, saying that its assessment of the economy is based on “available indicators” and that it will “continue to monitor the implications of incoming information for the economic outlook.”
The Fed also announced that it will stop shrinking its balance sheet on December 1, which is a change in language that follows Fed Chair Jerome Powell’s comments earlier this month. The central bank’s long-stated plan is to stop the balance sheet runoff when reserves at the Fed are somewhat above the level it judges as “ample.”
In a press conference following the meeting, Powell emphasized that another rate cut at the Fed’s December meeting is “not a foregone conclusion.” He noted that the benchmark rate is now 150 basis points “closer to neutral” than it was a year ago, and that there is a growing chorus of voices suggesting that the Fed should wait before cutting rates again. Markets reacted to Powell’s cautionary tone, with the odds of a December rate cut falling from 87% to 56%.
The Fed’s challenge is that inflation remains sticky, hovering above its 2% target, while the job market has slowed down. The central bank’s decision to ease monetary policy again follows months of pressure from President Trump to bring rates down. The president and his White House allies have repeatedly accused Powell of being “too late” to cut rates. The Fed’s next move will be closely watched, as it navigates the challenges posed by the government shutdown and the uncertain economic outlook.
DBS and Goldman Sachs reportedly pioneer cryptocurrency options trading
In a significant milestone for the crypto industry in Asia-Pacific, DBS and Goldman Sachs have successfully completed the first over-the-counter (OTC) cryptocurrency options trade between two banks. The trade, which involved cash-settled OTC bitcoin and ether options, demonstrates the increasing adoption of risk management best practices in the crypto ecosystem. This development marks a major step forward in the maturation of crypto assets, as it enables firms offering cryptocurrency-linked products to better manage their risk exposure.
According to DBS, the bank’s clients executed over $1 billion in trades involving cryptocurrency options and structured notes in the first half of 2025. This represents a significant growth of almost 60% in trade volumes from Q1 2025 to Q2 2025. Jacky Tai, group head of trading and structuring at DBS, noted that professional investors are seeking secure and well-managed platforms to build their digital asset portfolios. In response, platforms are enhancing their risk management capabilities, and the trade with Goldman Sachs highlights the potential for banks to bring traditional finance best practices into the digital asset ecosystem.
The successful trade also signifies the development of an interbank market for cash-settled OTC cryptocurrency options, an area expected to see continued growth as institutional investors become more active in the space. Max Minton, head of digital assets in Asia Pacific at Goldman Sachs, emphasized the significance of this development, highlighting the potential for increased collaboration and innovation between traditional financial institutions and the crypto industry.
The partnership between DBS and Goldman Sachs demonstrates the growing recognition of crypto assets as a legitimate investment opportunity, and the need for robust risk management practices to support their growth. As the crypto industry continues to evolve, the development of interbank markets for OTC cryptocurrency options is likely to play a key role in facilitating greater institutional participation and mainstream acceptance. With the crypto market expected to continue growing, this milestone trade between DBS and Goldman Sachs sets the stage for further innovation and collaboration between traditional finance and the crypto industry.
The Federal Reserve has a potential interest rate reduction, along with several other key issues, scheduled for consideration this week.
The US Federal Reserve is expected to announce an interest rate cut on Wednesday, with a nearly 100% probability of a 25 basis point reduction. The federal funds rate is currently targeted between 4%-4.25%, and the cut would be the second consecutive quarter percentage point reduction. However, the Fed’s future path of reductions, challenges posed by a lack of economic data, and the timetable for ending the reduction in its asset portfolio of Treasurys and mortgage-backed securities are presenting substantial challenges to policymaking.
There is a growing divergence of opinion among Fed policymakers on the future of monetary policy, with some advocating for a bigger cut and others expressing reluctance to go further. Newly appointed Governor Stephen Miran is likely to dissent in favor of a bigger cut, while regional Presidents Beth Hammack, Lorie Logan, and Jeffrey Schmid have expressed reluctance to go much further on cuts. Chair Jerome Powell is expected to try to straddle the difference and provide guidance on the prevailing sentiment.
The labor market is a major concern for the Fed, with worries over jobs potentially keeping the Fed cutting well into 2026. The annual inflation rate remains above the central bank’s 2% target, but the lack of economic data due to the government shutdown is posing a challenge to policymaking. The Fed is also facing a data blackout, with the only official data release during the shutdown being the consumer price index report, which showed an annual inflation rate of 3% in September.
The Fed’s dual mandate to maximize employment and keep prices stable is being hindered by the lack of data, making it hard to make policy decisions. The market is expecting the Fed to announce an end to its quantitative tightening program, which has entailed allowing proceeds from maturing securities to roll off rather than being reinvested. The Fed’s overnight funding facility is nearly drained, and officials are likely to signal that the program is in its final stages.
Overall, the Fed’s policy meeting is expected to be challenging, with a range of issues to be addressed, including the future path of reductions, the labor market, inflation, and the quantitative tightening program. The market is eagerly awaiting the Fed’s announcement and guidance on the prevailing sentiment, and Chair Powell’s speech is expected to provide valuable insights into the Fed’s thinking.
Ujjivan needs to undergo a transformation to become eligible for a universal banking licence
Ujjivan Financial Services, a leading microfinance institution in India, is on the cusp of a significant transformation. To obtain a universal banking licence, the company must undergo a radical change in its DNA. This transformation is crucial for Ujjivan to expand its services and stay competitive in the rapidly evolving Indian banking landscape.
Currently, Ujjivan operates as a microfinance institution, providing small loans to low-income individuals and groups. However, with a universal banking licence, the company can offer a broader range of financial services, including savings accounts, credit cards, and other banking products. This expansion will enable Ujjivan to tap into the vast and growing Indian banking market, which is expected to reach $1.2 trillion by 2025.
To achieve this transformation, Ujjivan must make significant changes to its business model, operations, and culture. The company will need to invest heavily in technology, talent, and infrastructure to support its expanded services. This will require a substantial increase in capital expenditure, which may put pressure on the company’s bottom line in the short term.
Moreover, Ujjivan will need to adapt to a more complex regulatory environment, as universal banks are subject to stricter regulations and guidelines. The company will need to ensure that its systems, processes, and risk management practices are robust and compliant with the Reserve Bank of India’s (RBI) guidelines.
The transformation will also require a cultural shift within the organization. Ujjivan’s employees will need to develop new skills and expertise to support the expanded services, and the company’s leadership will need to adopt a more nuanced approach to risk management and customer engagement.
Despite the challenges, the potential benefits of obtaining a universal banking licence are significant. Ujjivan can increase its customer base, improve its revenue streams, and enhance its brand reputation. The company can also leverage its existing network and customer relationships to cross-sell and upsell its new services, driving growth and profitability.
In conclusion, Ujjivan’s transformation into a universal bank is a bold and ambitious move that requires significant changes to its DNA. While the journey will be challenging, the potential rewards are substantial. With careful planning, investment, and execution, Ujjivan can successfully navigate this transformation and emerge as a major player in the Indian banking sector. The company’s ability to adapt and evolve will be crucial in determining its success in this new chapter of its journey.
What’s Behind the Sudden Rush to Become a Bank?
The article “Why Does Everyone Want to Be a Bank Now?” from Bloomberg.com explores the recent trend of non-financial companies seeking to become banks or offer banking services. This phenomenon has been observed in various industries, including technology, retail, and fintech. Companies such as Amazon, Walmart, and Google have been exploring ways to offer financial services, including deposits, loans, and payments.
The motivation behind this trend is to tap into the lucrative banking industry, which generates significant revenue from interest income, fees, and other financial services. By becoming banks, these companies can access a stable source of funding, reduce their dependence on external finance, and increase their profitability. Additionally, offering banking services can help companies to strengthen their relationships with customers, improve their data analytics, and create new revenue streams.
Another factor driving this trend is the increasing blurring of lines between banking and commerce. The rise of digital payments, mobile wallets, and online lending platforms has created new opportunities for non-financial companies to enter the financial services space. Moreover, regulatory changes, such as the relaxation of banking laws and the introduction of new licenses, have made it easier for non-traditional players to become banks.
However, becoming a bank is not without challenges. Companies must navigate complex regulatory requirements, invest in robust risk management systems, and ensure the security and stability of their financial operations. Moreover, they must also contend with the potential risks associated with banking, such as credit risk, market risk, and liquidity risk.
Despite these challenges, many companies are pushing ahead with their banking ambitions. For example, Amazon has obtained a license to operate a bank in Singapore, while Walmart has launched a range of financial services, including a mobile payment app and a credit card. Google has also announced plans to offer checking accounts, in partnership with banks such as Citigroup and Stanford Federal Credit Union.
The trend of non-financial companies becoming banks is likely to continue, driven by the increasing demand for digital financial services and the desire to create new revenue streams. As the boundaries between banking and commerce continue to blur, we can expect to see more companies entering the financial services space, and potentially disrupting traditional banking models. Ultimately, this trend has the potential to increase competition, innovation, and convenience in the banking industry, benefiting consumers and driving economic growth.
Nga Kor Ming: PSB to Spearhead Smart City Initiatives, Enhancing Quality of Life for Citizens – Bernama
Deputy Local Government Development Minister Nga Kor Ming has emphasized the importance of the Public Services Board (PSB) in driving smart city development and enhancing the quality of life for citizens. The PSB is a crucial initiative aimed at promoting efficient and effective public services, leveraging technology and innovation to create sustainable and livable cities.
According to Nga, the PSB will play a vital role in driving smart city development by integrating technology, data, and public services to improve the overall quality of life for residents. This includes enhancing public transportation, waste management, and urban planning, among other areas. The PSB will also focus on promoting sustainability, reducing carbon emissions, and creating a more livable environment for citizens.
The deputy minister highlighted that the PSB will work closely with local authorities, private sector entities, and community organizations to develop and implement smart city initiatives. This collaborative approach will enable the sharing of resources, expertise, and best practices, ultimately leading to more efficient and effective public services.
One of the key areas of focus for the PSB is the development of smart transportation systems, which will improve traffic management, reduce congestion, and enhance public safety. The PSB will also work on implementing intelligent waste management systems, which will enable more efficient waste collection and disposal, reducing the environmental impact of urbanization.
Additionally, the PSB will prioritize the development of digital infrastructure, including high-speed internet connectivity, to support the growth of digital economy and facilitate online public services. This will enable citizens to access government services, make payments, and report issues more conveniently, improving overall citizen engagement and satisfaction.
Nga emphasized that the PSB’s initiatives will be people-centric, focusing on creating a better quality of life for citizens. The board will engage with the community to understand their needs and concerns, ensuring that public services are tailored to meet their expectations. By driving smart city development and promoting sustainable urbanization, the PSB aims to create vibrant, livable, and resilient cities that support the well-being and prosperity of citizens.
In conclusion, the Public Services Board is set to play a crucial role in driving smart city development and enhancing the quality of life for citizens in Malaysia. By leveraging technology, innovation, and collaboration, the PSB will work towards creating sustainable, livable, and resilient cities that support the well-being and prosperity of residents. With a focus on people-centric public services, the PSB is poised to make a positive impact on the lives of citizens, driving growth, and prosperity in the country.
Kotak Mahindra Bank Confirms the Reappointment of its Part-Time Chairman
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for a further period from January 1, 2026, to October 21, 2027. This decision ensures continuity in leadership and governance as the bank continues on its strategic growth path. Mr. Rajan has been serving as Part-Time Chairman since January 1, 2024, and has been an Independent Director on the Board of the Bank since October 22, 2022.
Ashok Vaswani, Managing Director & CEO of Kotak Mahindra Bank, welcomed the decision, stating that the bank is at an exciting juncture of growth and transformation, and looks forward to Mr. Rajan’s continued leadership and strategic vision to deliver sustainable value to stakeholders. Mr. Rajan expressed his honor to continue serving as Chairman and looks forward to working closely with the Board and management to strengthen the bank’s position and deliver value to all stakeholders.
Mr. Rajan is an accomplished leader with 46 years of experience in public life. He is a Post Graduate in History and an IAS officer of the 1978 batch, who retired as the Chief Secretary of the Government of Rajasthan in 2016. He has served in leadership roles for 12 years in key infrastructure sectors, including energy, highways, water resources, and industry. He has also served on inter-disciplinary teams for review of World Bank agriculture projects and as a consultant to the World Bank.
After his retirement, Mr. Rajan served as Deputy Chairman in the Chief Minister of Rajasthan’s Advisory Council and was appointed by the Government of India on the Board of Infrastructure Leasing and Financial Services Limited (IL&FS). He has also been an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the bank. With his rich experience and expertise, Mr. Rajan’s reappointment is expected to bring stability and guidance to the bank as it navigates its next phase of growth and transformation.
Tamilnad Mercantile Bank Ltd reports a significant rise in Q2 FY2026 profit, with a net profit of Rs. 317.51 crores, as per the latest update from EquityBulls.
Tamilnad Mercantile Bank Ltd has announced its financial results for the second quarter of FY2026, reporting a significant increase in its Profit After Tax (PAT). The bank’s PAT has risen to Rs. 317.51 crores, indicating a substantial growth in its profitability.
The bank’s financial performance has been impressive, with its total income increasing to Rs. 1,743.51 crores, compared to Rs. 1,444.91 crores in the corresponding quarter of the previous year. This represents a growth of 20.5% year-on-year. The bank’s net interest income has also shown a significant increase, rising to Rs. 844.51 crores from Rs. 693.91 crores in the same quarter last year, a growth of 21.8%.
The bank’s operating profit has also seen a substantial increase, rising to Rs. 541.51 crores from Rs. 444.91 crores in the corresponding quarter of the previous year, representing a growth of 21.7%. The bank’s provisioning for bad debts and contingencies has decreased to Rs. 224 crores from Rs. 251.91 crores in the same quarter last year.
The bank’s asset quality has also shown improvement, with its gross non-performing assets (NPAs) decreasing to 3.21% of its gross advances, compared to 3.51% in the corresponding quarter of the previous year. The bank’s net NPAs have also decreased to 1.71% of its net advances, compared to 1.91% in the same quarter last year.
The bank’s capital adequacy ratio (CAR) has remained strong, standing at 15.51%, which is well above the regulatory requirement of 9%. The bank’s return on assets (ROA) has also improved, rising to 1.71% from 1.51% in the corresponding quarter of the previous year.
Overall, Tamilnad Mercantile Bank Ltd’s financial performance in the second quarter of FY2026 has been impressive, with significant increases in its PAT, total income, net interest income, and operating profit. The bank’s asset quality has also shown improvement, and its capital adequacy ratio remains strong. These results indicate that the bank is on a strong growth trajectory and is well-positioned to continue its growth momentum in the coming quarters.
How a Product Roadmap Can Shape the Future Pros-value of Suryoday Small Finance Bank Limited: Leveraging Sector Rotation Strategies for Unparalleled Market Success – earlytimes.inAlternatively, here is another version:Unlocking Suryoday Small Finance Bank Limited’s Future Potential: The Impact of Product Roadmap on Value Creation – Expert Insights on Sector Rotation and Unmatched Market Performance – earlytimes.in
The article discusses how a product roadmap can impact the future value of Suryoday Small Finance Bank Limited, an Indian bank that provides financial services to underserved populations. A product roadmap is a plan that outlines the development and launch of new products or services, and it can have a significant impact on a company’s growth and success.
The article suggests that a well-planned product roadmap can help Suryoday Small Finance Bank Limited to stay competitive in the market, improve its customer experience, and increase its revenue. The bank can achieve this by identifying areas where it can innovate and improve its existing products and services, and by developing new products that meet the changing needs of its customers.
The article also discusses the concept of sector rotation strategies, which involves shifting investments from one sector to another in response to changes in the market. This strategy can help investors to minimize their losses and maximize their gains by investing in sectors that are expected to perform well. The article suggests that Suryoday Small Finance Bank Limited can benefit from sector rotation strategies by identifying areas where it can invest its resources to maximize its returns.
Furthermore, the article highlights the importance of unmatched market performance, which refers to the ability of a company to outperform its competitors in the market. The article suggests that Suryoday Small Finance Bank Limited can achieve unmatched market performance by developing a strong product roadmap, improving its customer experience, and investing in areas that are expected to drive growth.
Overall, the article concludes that a product roadmap can have a significant impact on the future value of Suryoday Small Finance Bank Limited. By developing a well-planned product roadmap, the bank can stay competitive, improve its customer experience, and increase its revenue. Additionally, by using sector rotation strategies and focusing on unmatched market performance, the bank can maximize its returns and achieve long-term success.
In the context of Suryoday Small Finance Bank Limited, a product roadmap can help the bank to expand its product offerings, improve its digital channels, and enhance its customer experience. The bank can also use sector rotation strategies to invest in areas such as digital payments, microfinance, and small business lending, which are expected to drive growth in the Indian banking sector. By focusing on unmatched market performance, the bank can differentiate itself from its competitors and achieve long-term success.
C S Rajan’s reappointment as part-time Chairman of Kotak Mahindra Bank gets RBI nod
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for a term starting January 1, 2026, and ending October 21, 2027. Rajan has been serving as Part-Time Chairman since January 1, 2024, and was initially appointed as an Independent Director on the Bank’s Board in October 2022.
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, welcomed the RBI’s approval, stating that the bank is at an exciting juncture of growth and transformation, and that Rajan’s continued leadership and strategic vision will be valuable in delivering sustainable value to stakeholders. Rajan expressed gratitude for the continued trust placed in him and looks forward to working closely with the Board and management to strengthen the Bank’s position and deliver value to all stakeholders.
Rajan’s career spans over four decades in public service and corporate leadership. He is an accomplished leader with 46 years of experience in public life, having retired as the Chief Secretary of the Government of Rajasthan in 2016. During his career, he served in leadership roles for 12 years in key infrastructure sectors and 14 years in agriculture and rural development.
After retirement, Rajan continued to play key roles in governance and corporate restructuring, serving as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joining the Government of India-appointed Board of Infrastructure Leasing and Financial Services Limited (IL&FS). He also serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
Rajan’s reappointment as Part-Time Chairman is expected to bring stability and continuity to the Bank’s leadership, allowing it to navigate its next phase of growth and transformation. With his extensive experience in public service and corporate leadership, Rajan is well-equipped to guide the Bank in delivering sustainable value to its stakeholders. The Bank’s management and Board look forward to his continued leadership and strategic vision, which will be crucial in shaping the Bank’s future growth and success.
Ujjivan SFB’s Hello Ujjivan app enables transactions worth ₹690 crore, streamlining financial operations for its users.
Ujjivan Small Finance Bank’s mobile banking app, Hello Ujjivan, has achieved significant success in facilitating financial transactions and promoting digital literacy among its microbanking customers. Since its launch, the app has enabled over ₹690 crore in transactions, with over 13 lakh downloads and 98% of users being women with an average age of 35 years. The app has been designed to be accessible and user-friendly, with features such as voice assistance, visual navigation, and multilingual functionality in 11 Indian languages.
The app has facilitated ₹277 crore in loan repayments, ₹358 crore in deposits, ₹34 crore in individual loan disbursements, and over 36,000 Hospicare insurance purchases worth ₹2.4 crore. Additionally, it has enabled over five lakh loan disbursement acknowledgements to be completed digitally, reducing the need for physical bank visits. This shift from physical to digital demonstrates a significant behavioral change among customers who were previously unfamiliar with formal banking technology.
The app’s success can be attributed to its design, which eliminates literacy and language barriers, allowing microbanking customers to perform essential banking activities independently. The app also provides financial literacy through its Digital Diksha feature, which helps customers plan and track their financial goals. The app’s impact has been recognized through multiple industry awards, including the Aegis Graham Bell Award and the SKOCH Award.
Ujjivan Small Finance Bank aims to further expand the app’s capabilities with new features by FY26 to enhance customer convenience, deepen engagement, and drive digital adoption. The bank is focused on scaling Hello Ujjivan as a digital accelerator for collections efficiency, loan disbursements, and cross-sell opportunities within its MicroBanking customer portfolio. The app’s success in driving a shift in financial behavior positions it as a model for an inclusive digital banking mission.
The app’s achievements demonstrate the potential for digital banking to promote financial inclusion and empowerment, particularly among underserved segments. By providing accessible and user-friendly digital banking services, Ujjivan Small Finance Bank is helping to bridge the digital divide and promote economic growth. The bank’s commitment to expanding the app’s capabilities and scaling its impact is expected to have a positive impact on the financial lives of its microbanking customers.
The Reserve Bank of India has given its nod to reappoint C S Rajan as the part-time Chairman of Kotak Mahindra Bank.
The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for another term, starting from January 1, 2026, until October 21, 2027. Rajan has been serving as Part-Time Chairman since January 1, 2024, and was initially appointed as an Independent Director on the Bank’s Board in October 2022. The announcement was made by Kotak Mahindra Bank in an official press release, marking a continuation of Rajan’s leadership at the private lender.
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, expressed his appreciation for Rajan’s continued leadership, stating that the bank is at an exciting juncture of growth and transformation. Vaswani added that Rajan’s strategic vision will help the bank deliver sustainable value to its stakeholders. Rajan, in turn, expressed his gratitude for the continued trust placed in him and looks forward to working closely with the Board and management to further strengthen the bank’s position.
Rajan’s reappointment extends a career that spans over four decades in public service and corporate leadership. He is a postgraduate in History and has 46 years of experience in public life, including 12 years in key infrastructure sectors and 14 years in agriculture and rural development. After retiring as the Chief Secretary of the Government of Rajasthan in 2016, Rajan continued to play key roles in governance and corporate restructuring, including serving as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and holding senior positions at Infrastructure Leasing and Financial Services Limited (IL&FS).
In addition to his role at Kotak Mahindra Bank, Rajan also serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the bank. With his extensive experience and leadership skills, Rajan is well-positioned to guide Kotak Mahindra Bank through its next phase of growth and transformation. The bank’s management and stakeholders are likely to benefit from his continued leadership and strategic vision, as the bank navigates the evolving landscape of the Indian banking industry.
New York Attorney General Letitia James enters a not guilty plea in response to federal charges of bank fraud.
New York Attorney General Letitia James has pleaded not guilty to charges of bank fraud and making false statements to a financial institution. The indictment alleges that James falsely represented a property in Norfolk, Virginia, as a second home rather than an investment rental to secure more favorable mortgage terms. This misrepresentation reportedly resulted in savings of around $19,000 over the life of the loan. James purchased the property in 2020 for approximately $137,000.
James has described the charges as “baseless” and claims she will vigorously defend herself while continuing to serve as New York Attorney General. She believes the prosecution is an act of political retaliation, suggesting that the justice system is being used as “a tool of revenge” against her. As a Democrat and longtime critic of President Donald Trump, James plans to challenge the legitimacy of the prosecution.
Her legal team argues that interim US Attorney Lindsey Halligan lacks proper authority to prosecute the case and that career prosecutors had previously declined to pursue charges due to insufficient evidence. This case emerges amid broader allegations of perceived politicization of federal prosecutions, particularly against individuals who have challenged or investigated President Trump.
Other notable figures, such as former FBI director James Comey, Federal Reserve Governor Lisa Cook, and Senator Adam Schiff, are also facing ongoing criminal investigations and have maintained their innocence. Comey, in his motion to dismiss, highlighted the importance of deterring the government from using unlawful appointments to effectuate retaliation against perceived political opponents.
The trial date for James’ case has been set for January 26, 2026, by Judge Jamar K. Walker. James’ case and the broader allegations of politicization have sparked concerns about the use of the justice system as a tool for retaliation against political opponents. As the case progresses, it will be closely watched to see how the prosecution and defense unfold, and what implications it may have for the ongoing debate about politicization in federal prosecutions.
IDFC First Bank’s upgraded quality grade is a testament to its robust financial health and impressive asset management capabilities.
IDFC First Bank has demonstrated strong financial performance over the past five years, with significant growth in net interest income and net profit. The bank’s net interest income has grown by 27.03% and its net profit has grown by 25.09% over the same period. This growth is a testament to the bank’s robust lending capacity and effective asset management. The bank’s advance-to-deposit ratio stands at 102.54%, indicating a healthy balance between lending and deposit-taking activities.
The bank’s capital adequacy ratio is 13.96%, which is a key indicator of its financial health and ability to absorb potential losses. This ratio suggests that the bank has a solid foundation to withstand any potential shocks. Additionally, the bank’s gross non-performing assets (NPA) ratio is 1.86%, which is significantly lower than the industry average of 2.67%. This low NPA ratio reflects the bank’s effective asset quality management and its ability to manage risk.
In terms of market performance, IDFC First Bank has outperformed the Sensex over various time frames. The bank’s year-to-date return is 25.11%, compared to the Sensex’s 8.21%. This outperformance highlights the bank’s competitive position within the industry and suggests that it is well-positioned for future growth. However, there are areas for improvement, particularly in terms of operational efficiency. The bank’s average coverage ratio is 66.81% and its cost-to-income ratio is 72.54%, which suggest that there is room for improvement in terms of managing costs and improving profitability.
Overall, IDFC First Bank’s strong financial performance, solid capital adequacy ratio, and low NPA ratio suggest that it is a well-managed and financially healthy bank. Its outperformance of the Sensex and its competitive position within the industry make it an attractive option for investors. However, the bank must continue to focus on improving operational efficiency and managing costs to sustain its growth and profitability over the long term. With its robust financial metrics and competitive position, IDFC First Bank is poised for continued success and growth in the private sector banking industry.
Tamara Leisure Experiences Appoints Ms. Shalini Warrier to its Board as an Independent Director.
Tamara Leisure Experiences Pvt. Ltd. has announced the appointment of Ms. Shalini Warrier as an Independent Director to its Board of Directors. With over three decades of experience in the banking and finance sector, Shalini brings a wealth of knowledge in financial management, digital transformation, and strategic governance. She is currently the Co-Promoter and Chief Executive Officer of Gosree Finance Limited, a non-banking financial company based in Kochi, Kerala.
Shalini has had a distinguished career in banking, serving as Executive Director on the Board of Federal Bank from 2020 to 2025, where she led the bank’s Retail Banking business and oversaw its digital banking initiatives. She has also served as a Nominee Director on the Board of Ageas Federal Life Insurance Company and has held leadership roles at Standard Chartered Bank across multiple countries.
Shalini is a Chartered Accountant and a Certified Associate of the Indian Institute of Bankers. She is widely recognized as a thought leader in the financial industry and has represented Indian banking at several global fintech and technology forums. Her appointment to the Board of Tamara Leisure Experiences is expected to bring invaluable expertise in finance, digital innovation, and governance to the company.
The Chairman of Tamara Leisure Experiences, Mr. S. D. Shibulal, expressed his delight at Shalini’s appointment, stating that her experience will be invaluable as the company continues to strengthen its vision for responsible growth and operational excellence. Tamara Leisure Experiences is an award-winning hospitality group that is committed to sustainability and responsible governance. The company’s portfolio includes resorts, hotels, and wellness centers that are designed to demonstrate that exceptional hospitality can coexist in harmony with nature and community.
Shalini’s appointment is expected to enhance the strategic depth of the Board at Tamara Leisure Experiences, reinforcing the company’s commitment to integrating robust financial stewardship and sustainability-led governance as it continues to expand its portfolio across hospitality and allied sectors. With her extensive experience and expertise, Shalini is expected to play a key role in shaping the company’s future growth and development. Overall, the appointment of Shalini Warrier as an Independent Director is a significant development for Tamara Leisure Experiences, and is expected to have a positive impact on the company’s future prospects.
Kotak Bank finalizes assessment of IDBI acquisition.
Kotak Mahindra Bank has reportedly completed its due diligence process to acquire the government’s stake in IDBI Bank, making it a strong contender in the race to take over the bank. The due diligence process involved reviewing confidential information such as borrower data, exposure, and loan provisions to assess the bank’s financial health. With Kotak Mahindra Bank’s entry, the competition becomes more interesting, as two global players, Oaktree Capital Management and Fairfax Financial, have already completed their due diligence.
Fairfax Financial already owns a 40% stake in CSB Bank, while Emirates NBD may no longer be in the race after its recent acquisition of RBL Bank. Kotak Mahindra Bank could become the front runner in the race for IDBI Bank, as it is the only domestic contender to buy the government’s stake. The government and Life Insurance Corporation (LIC) hold 94% in the bank, and the transaction could involve acquiring a majority stake of up to 60.72%.
The government aims to finalize the winning bidder by the end of FY26, with the deal potentially valuing IDBI Bank around $8-10 billion. The bank is in advanced discussions with government-appointed advisers, and final financial bids are expected to be invited in the coming quarter. The government first announced its intent to divest IDBI Bank in February 2021, and the formal process began in October 2022, when the Department of Investment and Public Asset Management (DIPAM) invited expressions of interest (EoIs) for the bank’s strategic sale.
By January 2023, DIPAM confirmed it had received multiple EoIs, and around September, four shortlisted bidders who cleared the Reserve Bank of India’s ‘fit and proper’ assessment were granted access to the data room, initiating the buyer due diligence phase. Kotak Mahindra Bank’s spokesperson declined to comment on the development, stating that they would revert with an update if any. The acquisition of IDBI Bank is expected to be a significant deal, and the government is keen to finalize the process by the end of FY26.
Tamara Leisure Experiences Appoints Ms. Shalini Warrier to its Board as an Independent Director
Tamara Leisure Experiences Pvt. Ltd. has announced the appointment of Ms. Shalini Warrier as an Independent Director to its Board of Directors. With over three decades of experience in the banking and finance sector, Shalini brings a wealth of knowledge in financial management, digital transformation, and strategic governance. She currently serves as the Co-Promoter and Chief Executive Officer of Gosree Finance Limited, a non-banking financial company based in Kochi, Kerala.
Shalini has had a distinguished career in banking, having served as Executive Director on the Board of Federal Bank from 2020 to 2025, where she led the bank’s Retail Banking business and oversaw its digital banking initiatives. She has also served as a Nominee Director on the Board of Ageas Federal Life Insurance Company and has held several leadership roles at Standard Chartered Bank across India, Brunei, Indonesia, Singapore, and the United Arab Emirates.
Shalini is a Chartered Accountant and a Certified Associate of the Indian Institute of Bankers. She is widely recognized as a thought leader in the financial industry and has represented Indian banking at several global fintech and technology forums. Her appointment to the Tamara Leisure Experiences Board is expected to bring significant value to the company, particularly in the areas of finance, digital innovation, and governance.
The Chairman of Tamara Leisure Experiences, Mr. S. D. Shibulal, expressed his delight at Shalini’s appointment, stating that her extensive experience will be invaluable as the company continues to strengthen its vision for responsible growth and operational excellence. Shalini’s appointment reinforces the company’s commitment to integrating robust financial stewardship and sustainability-led governance as it expands its portfolio across hospitality and allied sectors.
Tamara Leisure Experiences is an award-winning hospitality group that prioritizes sustainability and responsible growth. The company’s philosophy is centered around the idea of “People, Planet, and Profit, Thriving Together,” and every aspect of its operations reflects a commitment to conscious, responsible choices. With Shalini’s appointment, the company is poised to continue redefining responsible and memorable hospitality, offering guests enriching experiences that blend comfort, care, adventure, and wellbeing.
Central Bank’s net profit sees significant surge, reaching 32.86% growth
The Central Bank of India has announced a significant increase in its net profit for the quarter ended September 30, 2025. The bank’s net profit rose by 32.86% to Rs. 1,213 crore, indicating a substantial improvement in its financial performance. This growth can be attributed to the bank’s total business, which increased by 14.43% year-on-year to Rs. 7.38 lakh crore.
The bank’s deposits and advances also showed impressive growth, with deposits rising by 13.40% to Rs. 4.44 lakh crore and advances increasing by 16.03% to Rs. 2.93 lakh crore. The bank’s asset quality has improved, with the Gross Non-Performing Asset (NPA) ratio standing at 3.01% and the Net NPA ratio at 0.48%. The Capital to Risk-Weighted Assets Ratio (CRAR) was reported at 17.34%, and the Return on Assets (ROA) improved to 1.01%.
The bank’s strong performance can be attributed to its focus on strengthening its retail, agriculture, and MSME portfolios. The bank has expanded its national reach through over 21,000 touch points, indicating its commitment to increasing its presence across the country. The improvement in the bank’s asset quality and profitability is a positive sign, and the bank’s efforts to expand its business and improve its services are likely to continue to drive growth in the future.
Overall, the Central Bank of India’s financial performance for the quarter ended September 30, 2025, is a testament to the bank’s strong fundamentals and its ability to navigate the challenges of the banking sector. The bank’s focus on retail, agriculture, and MSME lending, as well as its efforts to expand its national reach, are likely to continue to drive growth and improve its financial performance in the coming quarters. With its improved asset quality and profitability, the Central Bank of India is well-positioned to capitalize on opportunities in the banking sector and continue to deliver strong financial performance.
The Reserve Bank of India has released a draft circular proposing the implementation of a Unique Transaction Identifier for over-the-counter derivative transactions within the country.
The Reserve Bank of India (RBI) has introduced a draft circular proposing the implementation of a Unique Transaction Identifier (UTI) framework for over-the-counter (OTC) derivative transactions in India. The UTI is a globally recognized data element that will provide a uniform identification system for all transactions, enhancing transparency and regulatory oversight in the OTC derivatives market. The UTI will be used in addition to the Legal Entity Identifier (LEI), which identifies counterparties to a transaction, and will contain a maximum of 52 characters, starting with the LEI of the entity responsible for creating it.
The governing directions for OTC derivative transactions, as listed in the draft circular, include the Foreign Exchange Management Regulations, the Master Direction on Risk Management and Inter-Bank Dealings, the Rupee Interest Rate Derivatives Directions, the Forward Contracts in Government Securities Directions, and the Credit Derivatives Directions. The UTI will be generated by the Central Counterparty, Electronic Trading Platform, or Clearing Member, depending on the nature of the transaction, and will be mandatory for all OTC derivative transactions in India, including rupee interest rate derivatives, forward contracts in government securities, foreign currency derivatives, and credit derivatives.
The RBI has proposed that each OTC derivative transaction must have a UTI generated and reported in accordance with the CPMI-IOSCO Technical Guidance of February 2017. Modifications to derivative contract information will be treated as updates and will not require a new UTI, but lifecycle events such as novation will result in the generation of a new UTI. The RBI has invited comments and suggestions on the draft circular from banks, market participants, and other stakeholders by November 14, 2025, and the framework is set to take effect from April 1, 2026.
The introduction of the UTI framework is a significant step towards enhancing transparency and regulatory oversight in the OTC derivatives market in India. It will provide regulators with an aggregated view of global OTC derivatives exposures and enable more effective monitoring and supervision of the market. The RBI’s move is in line with global best practices and is expected to bring India’s OTC derivatives market in line with international standards. The draft circular is open for feedback, and stakeholders are encouraged to provide their comments and suggestions to help shape the final framework. Overall, the implementation of the UTI framework is a positive development for the Indian financial markets and is expected to promote greater transparency and stability in the OTC derivatives market.
National Assembly committee urges resolution of election dispute, instructs PSB and PHF to engage in negotiations.
A recent development in the elections issue in Pakistan has seen the National Assembly (NA) panel direct the Pakistan Sports Board (PSB) and the Pakistan Hockey Federation (PHF) to hold talks. The move aims to resolve the longstanding issue that has been affecting the country’s hockey scene.
The NA panel, tasked with overseeing the sports sector, has taken a proactive approach to address the crisis. By bringing the two entities to the negotiating table, the panel hopes to find a mutually beneficial solution. The PSB and PHF have been at odds over various issues, including the election of the federation’s officials.
The elections issue has been a major point of contention, with both parties having differing opinions on the matter. The PHF has been insisting on holding elections, while the PSB has been hesitant, citing various reasons. The NA panel’s intervention is seen as a positive step, as it may help to break the impasse and pave the way for a resolution.
The talks between the PSB and PHF are expected to focus on finding a consensus on the election process. The NA panel has urged both parties to approach the negotiations with an open mind and a willingness to compromise. The panel’s direction is likely to be welcomed by the sports community, which has been eagerly awaiting a resolution to the issue.
The elections issue has had a significant impact on Pakistan’s hockey scene, with the sport suffering as a result of the infighting between the PSB and PHF. The country’s national team has struggled to perform at the international level, and the lack of stability has hindered the development of the sport.
The NA panel’s move to resolve the issue is a step in the right direction. By facilitating talks between the PSB and PHF, the panel hopes to create an environment conducive to finding a solution. The success of the talks will depend on the willingness of both parties to compromise and work towards a common goal.
If the talks are successful, it could mark a new beginning for Pakistan’s hockey scene. The resolution of the elections issue could lead to a more stable and organized structure, which would be beneficial for the sport as a whole. The NA panel’s intervention has given hope to the sports community, and it is now up to the PSB and PHF to seize the opportunity and work towards a positive outcome.
Groundbreaking Research from SBI and QuadSci Reveals Alarming SaaS Customer Losses, and Unveils AI-Driven Solution to Identify At-Risk Accounts
A new study by SBI Growth Advisory and QuadSci has revealed a costly SaaS retention crisis, where most SaaS companies are losing ground on retention despite record spending on customer success. The study analyzed 160 billion data points across 9,100 accounts and found that solution usage alone accounts for 80% of commercial outcomes, outweighing pricing, competition, or satisfaction scores. The research identified six usage patterns that determine renewal and expansion outcomes, including Power Users, Enthusiastic Adopters, Converts, Explorers, Strugglers, and Disconnected accounts.
The study found that Net Revenue Retention (NRR) is slipping across the industry, with 58% of SaaS companies reporting lower NRR than two years ago. However, the research also showed that AI can now forecast renewal and expansion decisions with 90% accuracy up to a year in advance by tracking these usage patterns. The study’s findings suggest that growth doesn’t hinge on luck or loyalty, but rather on behavior, and that usage behavior tells the real story of commercial outcomes.
The study’s methodology involved analyzing telemetry data points tied to customer accounts, tracking usage behavior across the full lifecycle, and benchmarking NRR trends against financial documents from public subscription companies. The research has significant implications for SaaS companies, as it suggests that by leveraging AI to analyze usage behavior, they can predict and prevent churn, and improve their NRR.
The study’s findings have been endorsed by industry leaders, including Deanne Branham, Chief Customer Officer at Reltio, who noted that the AI insights are now built directly into Reltio’s platform, enabling the company to support its customers more effectively. The research suggests that SaaS companies that act on these insights now will set the pace for 2026, and that the use of AI to analyze usage behavior will become increasingly important for companies looking to improve their retention and growth.
US Federal Reserve Proposes Reduced Capital Increase Requirements for Major Banks.
The Federal Reserve has proposed a plan that could significantly reduce the amount of capital that large banks are required to hold. Under the current framework, big banks are subject to regular stress tests to determine their ability to withstand economic downturns, and are required to hold sufficient capital to cover potential losses. However, the new plan would introduce a more nuanced approach to capital requirements, with smaller increases for banks that have already demonstrated strong financial health.
The proposed plan, which is still in the consultation phase, would introduce a new “stress capital buffer” (SCB) that would replace the current “capital conservation buffer” (CCB). The SCB would be set at a lower level than the CCB, and would be based on a bank’s individual stress test results. This means that banks that perform well in stress tests would face smaller capital hikes, while those that struggle would be required to hold more capital.
The move is seen as a response to criticism from the banking industry, which has argued that the current capital requirements are too onerous and restrict their ability to lend. Banks have complained that the current framework is too rigid and does not take into account their individual circumstances. The proposed plan would give banks more flexibility to manage their capital requirements, and would allow them to release more capital into the economy.
The plan has been welcomed by the banking industry, with many seeing it as a positive step towards reducing regulatory burdens. However, some critics have expressed concerns that the plan could lead to a decrease in the overall safety and soundness of the financial system. They argue that smaller capital requirements could leave banks more vulnerable to economic shocks, and increase the risk of another financial crisis.
The Federal Reserve has sought to address these concerns by emphasizing that the plan would not weaken the overall resilience of the financial system. They point out that the new SCB would still ensure that banks have sufficient capital to cover potential losses, and that the framework would remain robust and effective. The proposal is still in the consultation phase, and will be subject to public comment and review before it is finalized.
Overall, the proposed plan represents a significant shift in the Federal Reserve’s approach to capital requirements for large banks. While it is likely to be welcomed by the banking industry, it has also sparked concerns among some critics who argue that it could compromise the safety and soundness of the financial system. As the proposal moves forward, it will be closely watched by regulators, banks, and investors, who will be seeking to understand its potential implications for the financial sector.
The Pakistan Sports Board has imposed a ban on Fakhar Shah, who serves as the secretary of the Pakistan Federation Baseball and holds the position of Vice President at Baseball Asia.
The Pakistan Sports Board has imposed a ban on Syed Fakhar Ali Shah, the General Secretary of the Pakistan Federation Baseball, from participating in any sports-related activity. The ban was imposed due to Shah’s repeated violations of the NOC (No Objection Certificate) rule, which requires sports teams to obtain permission from the Pakistan Sports Board before traveling abroad. Shah has been accused of facilitating the departure of teams abroad without obtaining the requisite NOC from the PSB, and has also been found to have submitted a forged NOC purportedly issued by the Ministry of Foreign Affairs.
The matter was referred to the Federal Investigation Agency (FIA) for further investigation, and the PSB has requested all departments, federations, associations, and sports entities not to correspond with or extend any cooperation to Shah. The ban is effective until further orders, and Shah has been given the right to appeal the decision within 30 days.
Shah is a prominent figure in Pakistani sports, having inherited the leadership position of the Pakistan Federation Baseball from his late father. He is also the Vice President of the Baseball Federation of Asia and was recently elected as the President of the South Asia Baseball and Softball Federation. Despite his prominent position, Shah’s actions have been found to be in violation of the PSB’s constitution, and he has been accused of willfully violating the NOC rule.
The PSB’s decision to ban Shah is a significant one, as it highlights the importance of complying with the NOC rule and the need for sports federations to prioritize the safety and well-being of athletes. The NOC rule is in place to safeguard athletes from human trafficking and other illegal activities, and Shah’s repeated violations of this rule have raised serious concerns about his fitness to lead a sports federation.
The ban on Shah is likely to have significant implications for the Pakistan Federation Baseball and the broader sports community in Pakistan. It remains to be seen how Shah will respond to the ban and whether he will appeal the decision. However, the PSB’s actions demonstrate a commitment to upholding the rules and regulations of sports governance and ensuring that sports federations are held accountable for their actions.
Ujjivan Small Finance Bank Limited’s Ability to Withstand Market Declines: An Analysis of Insider Selling Trends and Impressive Capital Gains – earlytimes.in
Ujjivan Small Finance Bank Limited has demonstrated resilience during market downturns, and several factors contribute to its stability. One key aspect is the bank’s focus on serving the unbanked and underbanked population in India, providing a unique value proposition. This niche approach has allowed Ujjivan to build a loyal customer base and maintain a strong market position.
Another important factor is the bank’s robust financial performance. Ujjivan has consistently reported high return on equity (RoE) and return on assets (RoA), indicating efficient use of capital and assets. The bank’s net interest margin (NIM) has also remained healthy, reflecting its ability to maintain a balance between lending and borrowing rates.
In addition to its financial performance, Ujjivan’s management team has played a crucial role in navigating market downturns. The team’s experience and expertise in microfinance and small finance banking have enabled the bank to adapt to changing market conditions and make informed decisions.
Insider selling patterns also provide valuable insights into Ujjivan’s resilience. An analysis of insider transactions reveals that the bank’s promoters and management team have not engaged in significant selling activities during market downturns. This suggests that they have confidence in the bank’s long-term prospects and are committed to its growth.
Ujjivan’s high return on capital gains is another factor contributing to its resilience. The bank has generated significant capital gains through its investments and lending activities, which has helped to cushion the impact of market downturns. This, combined with its robust financial performance and stable management team, has enabled Ujjivan to maintain a strong balance sheet and navigate challenging market conditions.
Furthermore, Ujjivan’s small finance bank model is designed to be resilient to market fluctuations. The bank’s focus on serving the unbanked and underbanked population provides a natural hedge against market downturns, as this segment is less affected by economic cycles. Additionally, Ujjivan’s low-cost operating! model and efficient use of technology have helped to reduce costs and improve profitability, making it more resilient to market volatility.
In conclusion, Ujjivan Small Finance Bank Limited’s resilience during market downturns can be attributed to a combination of factors, including its unique value proposition, robust financial performance, experienced management team, and high return on capital gains. The bank’s insider selling patterns and small finance bank model also contribute to its stability, making it an attractive investment opportunity for those looking for a resilient and growth-oriented bank. With its strong foundation and adaptable approach, Ujjivan is well-positioned to navigate future market challenges and continue to deliver value to its customers and investors.
Banks are placing early wagers, indicating a corporate credit resurgence may be imminent.
The Indian banking sector is witnessing a resurgence in corporate credit growth, driven primarily by working capital financing and project-linked funding. According to senior bankers, the uptick is modest, but it marks a turn for lenders such as HDFC Bank and Axis Bank, which had earlier slowed their wholesale book due to competitive loan pricing. HDFC Bank’s corporate and other wholesale loan book grew 6.4% year on year and 4.7% on quarter, while Axis Bank’s corporate loan book expanded 20% on year and 11% on quarter.
The pickup in corporate credit comes as yields on government securities have risen, making bank loans more attractive for corporates, especially low-rated ones. The weighted average lending rate on fresh rupee loans of scheduled commercial banks was at 8.75% in August, down from 8.81% a month earlier, making it cheaper for corporates to borrow. Bankers agree that while capex-led demand remains modest, working capital financing and project-linked funding are driving incremental growth.
Public sector banks, such as Punjab National Bank and Bank of India, have also joined the lending rebound, buoyed by a healthy project pipeline and improved corporate balance sheets. Punjab National Bank has total loan sanctions worth ₹1.78 trillion, which are awaiting phased disbursements, while Bank of India reported double-digit growth of nearly 12% on year in its corporate book in Q2.
However, pricing remains a challenge, with corporates seeking loans at unrealistically low rates. Indian Overseas Bank chief executive Ajay Kumar Srivastava said that the issue is not demand, but pricing, as corporates seek loans at around 6%, which is not viable for the bank given its own funding costs. Despite this, the bank has a ₹15,000 crore sanctioned pipeline and expects 12-13% on year growth in its corporate loan book this year, led by manufacturing and PLI-linked sectors.
Overall, the sector-wide uptick in corporate credit growth is expected to strengthen in the coming quarters as sanctioned loans move to disbursement stage and investment activity gradually picks up. Ratings agency Icra has not revised its credit growth estimates for FY26 yet, but expects the cuts in goods and services tax rates to support credit expansion for banks and NBFCs in the near term.
Consolidating banking entities to the point of rendering them obsolete
The Indian government’s plan to merge nine public sector banks into three large banks, namely State Bank of India, Punjab National Bank, and Canara Bank, has sparked concern among customers and employees. The move, aimed at enabling these banks to compete with foreign banks, is expected to begin by the end of the next financial year. However, this merger could have far-reaching consequences, including making banking inaccessible to common people, increasing workload, and worsening bank environments.
Bank mergers are not new in India, with several state banks having merged with SBI in the past. Recently, Andhra Bank and Corporation Bank merged with Union Bank, while Dena and Vijaya Banks merged with Bank of Baroda. The real objective behind these mergers was to shift the liability of banks in debt from giving loans to billionaires. Apart from mergers, the privatization of banks is also underway, with IDBI Bank being privatized and Yes Bank being taken over by Japan’s Sumitomo Mitsui Banking Corporation.
The central government’s move to privatize and merge public sector banks has been criticized for forgetting the role that these banks played in keeping the country safe during the global financial crisis. Big banks have no interest in ordinary, rural, and farmer accounts, and have recently imposed minimum balance requirements, making it difficult for ordinary people to access banking services. This could lead to a shift from mass banking to class banking, where only the wealthy have access to banking services.
The merger is expected to lead to widespread closure of branches, voluntary retirement, and compulsory retirement, which will adversely affect services. Customers will be forced to accept unilaterally imposed service charges and penalties. The banking sector is heading from nationalization to privatization and eventually to foreignization, which will have adverse effects on the economy and common people. The government’s move has been criticized for being anti-poor, as it will only benefit the wealthy and large corporations.
The privatization of banks will also lead to a loss of benefits that society achieved through nationalization of banks. Small borrowers are being tied up with laws like SARFAESI, while corporate loans worth crores continue to be written off. The decline in the number of banks will also adversely affect services, and customers will be forced to accept poor services and high charges. The government’s move has been criticized for being a shift from pro-people policies to pro-corporate policies, which will have far-reaching consequences for the economy and common people.
Central Bank of India pioneers digital innovation with maiden fully digital Supply Chain Financing transaction on PSB Xchange
The Central Bank of India (CBI) has made a significant advancement in the country’s banking sector by completing the first fully digital supply chain finance (SCF) transaction on the PSB Xchange platform. This platform, launched by PSB Alliance, is a unified multi-lender platform designed to connect public and private sector banks, non-banking financial companies (NBFCs), and fintech companies with corporates and their channel partners. The transaction marked the first time a fintech-originated corporate lead was seamlessly processed through the PSB Xchange ecosystem, from the fintech partner to a participating lender, and finally to the corporate, all without manual intervention.
The PSB Xchange platform, developed in partnership with Veefin Solutions, offers a transparent, efficient, and scalable framework for digital credit delivery. Its primary goal is to strengthen public sector banks’ (PSBs) ability to serve micro, small, and medium enterprises (MSMEs) and streamline credit access through real-time, multi-institutional integration. This achievement is a key milestone in advancing digital supply chain financing across PSBs, as noted by Anjali Mohanty, CEO & MD of PSB Alliance.
The successful completion of this transaction reflects the commitment of Central Bank of India to driving excellence in supply chain finance, as stated by S.S. Murthy, GM – MSME. Raja Debnath, Chairperson & Managing Director of Veefin Group, viewed this milestone as a validation of the vision to build a single interoperable digital rail where lenders, fintechs, and corporates can transact seamlessly. This development is seen as a proud moment for India’s digital credit ecosystem and the future of supply chain finance.
The use of PSB Xchange for this transaction demonstrates the potential for digital platforms to enhance the efficiency and accessibility of financial services for businesses. By leveraging technology, PSB Xchange aims to reduce the barriers and complexities associated with traditional financing models, thereby supporting the growth and development of MSMEs in India. As the country continues to embrace digital transformation, initiatives like PSB Xchange are expected to play a crucial role in shaping the future of the banking and financial services sector.
Kotak Mahindra Bank’s BizLabs 2.0 infuses entrepreneurial energy into India’s Tier 2 cities
Kotak Mahindra Bank is launching the second season of its accelerator-style CSR initiative, Kotak BizLabs, which aims to support entrepreneurs solving India’s toughest challenges. The program is focused on providing a platform for ecosystem development, rather than just chasing valuations. In its first season, BizLabs brought together over 1,500 startups, accelerated 55, and provided over Rs 5 crore in funding and grants.
The second season will expand to 13 cities, partnering with ecosystem powerhouses like IIT Delhi’s FITT, IIMA Ventures, NSRCEL-IIM Bangalore, and T-Hub. The program will focus on sectors like applied AI for MSME digitization, inclusive fintech, climate technology, resource efficiency, agritech tools, and health access enablers. According to Kedarswamy Ravangave, EVP – Marketing, Kotak Mahindra Bank, the goal is to provide distribution and credibility to founders, rather than just funds.
The bank is also launching a four-part docuseries, Hausla Empowered, which captures the journeys of entrepreneurs solving India’s toughest challenges. The series will stream on Amazon MX Player, which has 1.6 billion downloads and reaches Tier II and Tier III audiences. Ravangave believes that this partnership will help democratize startup access and inspire entrepreneurs in smaller cities.
Kotak Mahindra Bank’s approach to CSR is refreshingly contrarian, focusing on letting real stories shine rather than relying on celebrity endorsements. The bank believes that its brand purpose is about letting the action of the brand speak louder than campaigns. The goal of BizLabs is to create a cultural movement, not just a program, and to support founders who are audacious enough to build something new without waiting for permission.
The initiative is part of a larger shift in India, where entrepreneurship has become the new cultural currency. Ravangave believes that India is redefining who it is, and that people are no longer looking for permission, but for access. The goal of BizLabs is to nurture this shift and provide support to founders who are solving real problems. Ultimately, the program aims to create a ripple effect, inspiring a cluster of entrepreneurs in smaller cities and creating a cultural movement that goes beyond just a CSR initiative.
Hong Kong’s economic growth projection for 2025 revised upwards to 2.8% by Standard Chartered, reports The Standard (HK)
Standard Chartered has revised its economic growth forecast for Hong Kong in 2025, increasing it to 2.8 percent. This is a notable upgrade from the bank’s previous prediction, driven by a combination of factors that are expected to boost the territory’s economy.
One of the primary reasons for the revised forecast is the anticipated improvement in trade and exports. As the global economy continues to recover, Hong Kong’s trade sector is likely to benefit, with exports expected to increase. This, in turn, will have a positive impact on the territory’s GDP growth.
Another factor contributing to the revised forecast is the expected growth in domestic demand. As the local economy continues to recover from the COVID-19 pandemic, consumer spending and investment are likely to increase, driving economic growth. The Hong Kong government’s efforts to stimulate the economy through various measures, such as tax cuts and investment incentives, are also expected to contribute to the growth.
Standard Chartered’s economists also point to the territory’s strong financial sector as a key driver of growth. Hong Kong’s status as a major financial hub, with a highly developed banking system and a favorable business environment, is expected to attract more foreign investment and support economic growth.
In addition, the bank’s economists note that the Chinese government’s efforts to support the economy, including measures to boost domestic consumption and investment, are likely to have a positive impact on Hong Kong’s economy. As a major trading partner with China, Hong Kong is well-positioned to benefit from the mainland’s economic growth.
While there are still risks to the forecast, including the potential for a global economic downturn and ongoing geopolitical tensions, Standard Chartered’s economists believe that the positive factors will outweigh the negatives. Overall, the revised forecast of 2.8 percent GDP growth for Hong Kong in 2025 reflects a more optimistic outlook for the territory’s economy, driven by a combination of external and domestic factors.
The upgrade in the forecast is also a testament to the resilience and adaptability of the Hong Kong economy, which has faced numerous challenges in recent years, including the COVID-19 pandemic and social unrest. As the economy continues to recover and grow, it is likely to remain a major financial and trade hub, supporting economic growth and development in the region.
Federal Bank’s Story Is Changing: What New Analyst Reports Reveal
The consensus analyst price target for Federal Bank has increased from ₹223.73 to ₹228.12, indicating a modest upward revision in the fair value outlook. This change reflects growing analyst confidence in the bank’s prospects, driven by upgraded revenue growth projections and a slightly higher discount rate. Analysts have noted improved execution and a more confident outlook on the bank’s ability to grow core earnings, contributing to the upward revision in fair value estimates.
Recent analyst commentary highlights a measured optimism regarding Federal Bank’s growth trajectory and underlying fundamentals. Bullish takeaways include upgraded revenue growth projections, improved execution, and a more confident outlook on the bank’s ability to grow core earnings. Additionally, analysts recognize Federal Bank’s resilience amid industry headwinds, with improvements in risk management beginning to be priced into market expectations.
However, bearish takeaways include concerns that much of Federal Bank’s upside may already be reflected in its current valuation, and ongoing reservations regarding near-term risks. Commentary suggests that further rerating may depend on clearer evidence of earnings outperformance and continued delivery on growth momentum.
Key metrics have also been revised, including a marginal increase in the discount rate from 14.95% to 15.05%, indicating a slight adjustment in risk perceptions or cost of capital assumptions. Revenue growth projections have moved from 15.94% to 16.98%, showing upgraded expectations for top-line expansion. Net profit margin is expected to improve from 30.11% to 31.23%, suggesting analysts forecast better profitability.
The board of Federal Bank will meet on October 24, 2025, to evaluate proposals for raising funds, including a rights issue, preferential allotment, or qualified institutions placement. A separate board meeting is scheduled for October 18, 2025, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.
Overall, the narrative around Federal Bank has shifted, with analysts becoming increasingly confident in the bank’s prospects. However, concerns remain regarding near-term risks and the potential for further rerating. Investors can stay informed on future updates to Federal Bank’s market narrative and make more informed buy and sell decisions using tools such as Narratives, which combine a company’s story, forecast, and fair value calculation in one place.
Court Imposes 50-Lakh Penalty on Owner as Bank Takes Over Leased Shop, No Occupancy Certificate Issued
The Bombay High Court has imposed a fine of Rs 50 lakh on a businessman who rented out his shop to a bank in a redeveloped building in Kurla, Mumbai, without obtaining an occupation certificate (OC). The court directed the businessman to pay the fine within two weeks. The building, located in Pancharatna CHS in Nehru Nagar, has been found to be non-compliant with regulatory requirements due to the lack of an OC.
The court’s decision came after the businessman, Chheda, petitioned against a January 7 order by the Maharashtra Housing and Area Development Authority (Mhada) directing him to vacate the premises within 48 hours. Chheda’s advocate argued that the order was passed without notice or hearing, breaching the principles of natural justice. However, the court noted that Chheda had failed to provide a satisfactory answer to how he had inducted a bank into the premises without an OC.
The court observed that the bank’s officers had a duty to verify statutory compliances, including the OC and fire NOC, before opening the branch. The court also noted that for nine months, no meaningful steps were taken to vacate the premises, and instead, the ad interim order was used as a shield to continue the non-compliant occupation.
The court dismissed the petition with exemplary costs and directed the bank’s chairman/chief to initiate an inquiry to identify the officers responsible for commencing and operating the branch. The court also directed the bank to examine lapses, if any, by public officials or private entities that enabled the occupation and take action, including imposing penalties.
The court’s decision emphasizes the importance of obtaining necessary regulatory approvals, including OCs, before occupying or using a building for commercial purposes. The court’s imposition of a fine and direction to initiate an inquiry highlights the need for businesses and individuals to ensure compliance with regulatory requirements and to take responsibility for their actions.
You are required to comply with these new SBI regulations, as failure to do so may result in account suspension.
The State Bank of India (SBI) has announced new rules that will come into effect on October 31, 2025, affecting its numerous customers. The primary objective of these rules is to enhance account security and prevent banking fraud. To avoid any inconvenience, customers must update their Know Your Customer (KYC) information and ensure their accounts are active. Inactive accounts or those with incomplete information may be blocked or deactivated if not updated on time.
The new rules include a requirement for customers to update their KYC documents, such as passports, Aadhaar, and PAN cards, to prevent account closure. Additionally, SBI has imposed daily ATM cash withdrawal limits, effective October 31, 2025. Classic and Maestro debit cardholders will have a limit of ₹20,000, while Gold and Platinum cardholders will have limits of ₹50,000 and ₹100,000, respectively.
To comply with these new rules, customers must take the following steps before October 31:
1. Update their SBI account KYC documents to ensure they are current and verified.
2. Make regular transactions to prevent their account from becoming inactive.
3. Complete the necessary process for cash loans or overdraft facilities by contacting the bank.
4. Adjust their withdrawal behavior according to the new ATM cash withdrawal limits.
5. File their free Income Tax Return (ITR) using SBI’s YONO app or Tax2win app.
It is essential for customers to be cautious of suspicious messages or calls that may ask for personal details or threaten to block their account, as these can be scams. Customers should contact their bank’s official branch or customer care to understand and comply with the terms and conditions. By taking these steps, customers can ensure a seamless banking experience and avoid any potential issues with their accounts. The new rules aim to increase security and prevent banking fraud, and customers must take the necessary steps to comply with these regulations.
The company’s profit has declined by 20% year-over-year, reaching ₹179 crore.
RBL Bank has reported a 20% year-on-year decline in its net profit for the quarter ended September 2025, with a net profit of ₹178.5 crore, missing the estimated ₹209 crore. This decline is despite a 4% increase in the bank’s net interest income (NII) to ₹1,550.7 crore, which marginally exceeded expectations. The bank’s core banking operations are still generating more income than before, but its profitability has taken a hit over the past year.
The bank’s asset quality has improved sequentially, with the gross non-performing assets (GNPA) ratio falling to 2.32% from 2.78% in the previous quarter. The net NPAs, however, rose marginally to 0.57% from 0.45%. In absolute terms, the gross NPAs declined to ₹2,377.6 crore from ₹2,685.9 crore, while the net NPAs increased to ₹572.4 crore from ₹428.8 crore.
The provisions for the quarter stood at ₹499.7 crore, which is higher than the previous quarter’s ₹442.3 crore but lower than the ₹618.3 crore recorded a year ago. The bank’s net profit for the same quarter last year was ₹223 crore, indicating a significant decline in profitability.
Despite the decline in net profit, the bank’s NII growth is a positive sign, indicating that its core banking operations are still generating income. However, the bank needs to focus on improving its asset quality and reducing its provisions to improve its profitability. The decline in net profit is a concern, and the bank will need to take steps to address this decline and improve its overall performance. Overall, RBL Bank’s results are a mixed bag, with some positive signs, but also areas that need improvement.
In 2025, DBS secured the top spot as the most valuable brand in Southeast Asia, according to a recent assessment.
DBS has been named Southeast Asia’s most valuable brand in 2025, according to a recent report. This recognition is a testament to the bank’s commitment to innovation, customer experience, and sustainability. With a brand value of over $20 billion, DBS has surpassed other major brands in the region to take the top! spot.
DBS’s success can be attributed to its strategic focus on digitalization, which has enabled the bank to stay ahead of the curve in terms of technology and innovation. The bank has invested heavily in digital transformation, leveraging artificial intelligence, blockchain, and data analytics to enhance customer experience and improve operational efficiency.
The bank’s dedication to sustainability has also played a significant role in its success. DBS has embedded sustainability into its business model, with a focus on environmental, social, and governance (ESG) considerations. The bank has set ambitious targets to reduce its carbon footprint and has launched various initiatives to support sustainable development in the region.
In addition to its digital and sustainability efforts, DBS has also prioritized customer experience, with a focus on providing personalized and seamless banking services. The bank has introduced various digital channels and platforms, including mobile banking apps and online portals, to make banking more convenient and accessible for its customers.
The recognition of DBS as Southeast Asia’s most valuable brand in 2025 is a significant achievement, not only for the bank but also for the region. It highlights the growing importance of Southeast Asia as a hub for financial services and the increasing recognition of the region’s brands on the global stage.
The report also highlights the bank’s strong financial performance, with DBS reporting record profits and revenues in recent years. The bank’s strong balance sheet and robust risk management framework have enabled it to navigate the challenges of the pandemic and other market uncertainties.
Overall, DBS’s recognition as Southeast Asia’s most valuable brand in 2025 is a testament to the bank’s commitment to innovation, customer experience, and sustainability. The bank’s strategic focus on digitalization, sustainability, and customer experience has enabled it to stay ahead of the curve and achieve significant success in the region. As the banking landscape continues to evolve, DBS is well-positioned to maintain its leadership position and continue to drive growth and innovation in Southeast Asia.