Ajay Seth, the former Finance Secretary, has been appointed as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). His appointment is a significant move to enhance regulatory leadership in India’s insurance sector. Background of the Appointment Profile of Ajay Seth Ajay Seth is a seasoned bureaucrat with a background in … Read more
The RBI has approved Warburg Pincus to invest in IDFC First Bank, a move that bolsters investor confidence and supports the bank’s growth. RBI Approval for Warburg Pincus Investment The Reserve Bank of India (RBI) has granted approval to Warburg Pincus, a prominent global private equity firm, to acquire up to 9.99% stake in IDFC … Read more
The State Bank of India (SBI) has been recognized as the World’s Best Consumer Bank for 2025 by Global Finance magazine for its inclusive, tech-enabled, and customer-friendly banking services. Background SBI, India’s largest public sector bank, has been at the forefront of retail banking transformation through technology adoption, rural outreach, and enhanced customer convenience. The … Read more
In a surprise move on July 23, 2025, the Reserve Bank of India (RBI) conducted a Variable Rate Repo (VRR) auction injecting ₹50,000 crore into the banking system. This intervention aimed to ease liquidity stress caused by GST-related outflows. Background The Indian banking system faced tight liquidity conditions due to GST-related outflows and funds locked … Read more
The launch of the GATI savings account by Fino Payments Bank is a significant step towards making digital banking more accessible. It caters to individuals seeking fast, affordable, and secure financial services. Leveraging its wide merchant network and easy mobile onboarding, Fino aims to empower more people with digital banking solutions. Background Fino Payments Bank … Read more
SBI recently raised ₹25,000 crore through a Qualified Institutional Placement (QIP), setting a new record in India’s capital market. The oversubscription and premium pricing demonstrate strong investor faith in SBI and India’s economic future. Overview The State Bank of India (SBI) achieved a historic milestone on July 22, 2025, by successfully executing India’s largest-ever Qualified … Read more
HSBC’s withdrawal from the Net Zero Banking Alliance marks a significant shift in global banking’s climate commitments, impacting coordinated climate actions. Learn more about this pivotal move and its implications. Overview HSBC, a leading global bank and founding member of the Net Zero Banking Alliance, has decided to step away from the coalition dedicated to … Read more
In a significant development, EximPe has obtained in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB). This approval is set to enhance cross-border digital transactions and e-commerce trade, specifically within the India-Asia region. Background The PA-CB framework by RBI regulates payment aggregators facilitating cross-border transactions, … Read more
The National Payments Corporation of India (NPCI) International is set to launch an expanded UPI-PayNow service, strengthening cross-border remittance connections between India and Singapore. The addition of 13 new Indian banks brings the total participating banks to 19, offering increased convenience and accessibility for users. Background and Objective Recent Developments and Expansion Key Features and … Read more
Raghavendra Srinivas Bhat has been appointed as the interim Managing Director and Chief Executive Officer (MD & CEO) of Karnataka Bank, starting from 16 July 2025. This decision comes in the wake of a recent leadership crisis following the resignation of the previous MD and CEO. Bhat will serve in this role for three months … Read more
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