BANKING & FINANCE Canara Bank Classifies RCom, Reliance Tele Accounts As ‘Fraud’

Public sector lender Canara Bank has classified the loan accounts of Reliance Communications Ltd (RCom) and its subsidiary Reliance Telecom Ltd (RTL) as “fraud” and will report the case to the Reserve Bank of India for inclusion in the Central Fraud Registry, even as the company is undergoing the corporate insolvency resolution process (CIRP). In […]

CW Bureau · Mar 7, 2026

BANKING & FINANCE RBI Approves Vinay Tonse As Yes Bank MD & CEO For Three-Year Term

Mumbai-based Yes Bank Ltd has received the Reserve Bank of India (RBI) approval for the appointment of Vinay Muralidhar Tonse as Managing Director & Chief Executive Officer for a period of three years. The tenure will commence from the date he assumes charge as MD & CEO of the private sector lender. To ensure a […]

CW Bureau · Mar 6, 2026

BANKING & FINANCE UGRO Capital Opts For All-Cash Route To Finalise MyShubhLife Acquisition

UGRO Capital has moved a step closer to completing the acquisition of Datasigns Technologies Pvt Ltd, the technology company that operates the MyShubhLife platform, after amending the transaction terms to streamline the deal structure. The non-banking financial company informed stock exchanges that it has entered into an Amended and Restated Share Purchase Agreement with the […]

CW Bureau · Mar 6, 2026

BANKING & FINANCE ADB Provides $100Mn Credit Support To Motilal Oswal Home Finance

Motilal Oswal Home Finance Ltd (MOHFL) has signed a $100 million debt financing agreement with the Asian Development Bank (ADB), marking a significant step in expanding affordable housing finance and promoting green housing development across India. The company will raise the rupee-equivalent amount through non-convertible debentures (NCDs). The transaction underscores strong confidence from a leading […]

CW Bureau · Mar 4, 2026

BANKING & FINANCE Fino Payments Bank CEO Rishi Gupta Arrested in GST Probe, CFO Take Reins

Fino Payments Bank Ltd said that its Chief Financial Officer Ketan Merchant has been named Head of the Organisation to to carry on day-to-day operations following the arrest of Managing Director and Chief Executive Officer Rishi Gupta under provisions of Sections 132(1)(a) and 132(1)(i) of the CGST and SGST Acts, 2017, respectively, on February 27, […]

CW Bureau · Feb 28, 2026

BANKING & FINANCE Yes Bank Moves Swiftly To Contain Forex Card Fraud, Shields Customers

Yes Bank has initiated stringent corrective measures after detecting a cluster of unauthorised e-commerce transaction attempts on its multi-currency prepaid forex cards issued in partnership with BookMyForex. According to the bank, its fraud monitoring systems flagged an unusual spike in transaction declines linked to specific Bank Identification Numbers (BINs) in the early hours of February […]

CW Bureau · Feb 26, 2026

BANKING & FINANCE Probe On, No Systemic Impact: IDFC First Bank Reassures Investors

IDFC First Bank which has appointed global audit firm KPMG to conduct a forensic investigation into a ₹590-crore fraud at one of its Chandigarh branches involving accounts linked to Haryana government departments, has moved to reassure investors about its capital strength and internal controls. Addressing investors, the bank’s top management described the incident as a […]

CW Bureau · Feb 24, 2026

BANKING & FINANCE IDFC First Bank Flags ₹590 Cr Fraud In Haryana Govt-Linked Accounts

IDFC First Bank Ltd has reported an incident involving alleged unauthorised and fraudulent activities at one of its branches in Chandigarh, potentially impacting a specific group of Haryana government-linked accounts, with an aggregate amount of approximately ₹590 crore under reconciliation. In a regulatory filing to stock exchanges on Saturday, the bank said the issue came […]

CW Bureau · Feb 22, 2026

BANKING & FINANCE Gold Loans Turns Safe Bet; Muthoot Finance AUM Surges New High

For thousands of borrowers navigating tight liquidity conditions and limited access to unsecured credit, gold loans are increasingly emerging as a trusted and secure way to raise funds without lengthy approval processes. Riding this shift in customer behaviour, Muthoot Finance Ltd, the largest gold loan NBFC, has reported a record year in its core gold […]

CW Bureau · Feb 19, 2026

BANKING & FINANCE Axis Bank, IndiGo Launch Co-Branded Credit Cards To Tap Travel Spending

Axis Bank and IndiGo have entered into a strategic partnership to launch co-branded credit cards aimed at meeting the evolving travel and lifestyle needs of Indian consumers. The partnership introduces two variants, the IndiGo Axis Bank Credit Card and the IndiGo Axis Bank Premium Credit Card, designed to reward everyday spending and travel purchases through […]

CW Bureau · Feb 18, 2026

BANKING & FINANCE RBI Mulls Tighter Rules On Recovery Agents To Protect Bank Borrowers

The Reserve Bank of India (RBI) has released draft amendment directions aimed at tightening norms governing the conduct of commercial banks in the recovery of loans and the engagement of recovery agents. The proposed changes seek to enhance borrower  protection, improve transparency and curb harsh recovery practices while strengthening accountability of banks for the actions […]

Sajan C Kumar · Feb 12, 2026

BANKING & FINANCE Muthoot Finance Standalone Net Profit Q3 Grows 95% At ₹2,656 Cr

Muthoot Finance Ltd has posted a 95% year-on-year rise in standalone net profit at ₹2,656 crore for the December quarter. Total Income grew by 64% t0 ₹7,263 crore from ₹4,431 crore. 64%. MFL reported capital adequacy ratio of 20.27%. Loan Assets Under Management (AUM) increased to ₹1,47,552 crore, marking a 12% growth. Chairman George Jacob […]

CW Bureau · Feb 12, 2026