BANKING & FINANCE ICICI Bank Net Profit Rises 8.5% To ₹13,702 Cr; Declares ₹12 Dividend

Private sector lender ICICI Bank delivered a steady performance in the March quarter of FY2026, with profit growth supported by resilient core income, improving asset quality and strong credit expansion across segments. The bank reported an 8.5% year-on-year rise in standalone profit after tax to ₹13,702 crore, as compared to ₹ 12,630 crore in the […]

CW Bureau · Apr 18, 2026

BANKING & FINANCE Novus Secures Central Bank Of India Mandate For Rewards Programmes

Novus Loyalty Ltd has secured a significant mandate from Central Bank of India, signing a service level agreement (SLA) on April 16, 2026, to deliver and manage loyalty rewards programmes across the bank’s digital ecosystem. End-to-end digital engagement rolloutThe three-year contract, valued at approximately ₹88 crore subject to scale and utilisation, involves end-to-end deployment, migration, […]

CW Bureau · Apr 17, 2026

BANKING & FINANCE PayU Bets Big On AI Voice Assistant To Simplify Merchant Onboarding

PayU, a leading diversified fintech platform, has launched its AI-powered outbound voice call assistant, marking a key step in its broader strategy of becoming an AI-native organisation across the merchant lifecycle. Addressing onboarding bottlenecks Merchant onboarding has traditionally been a cumbersome and time-consuming process, involving extensive paperwork, KYC verification, and multiple activation steps, often leading […]

CW Bureau · Apr 14, 2026

BANKING & FINANCE Poonawalla Fincorp Raises ₹2,500 Cr, Attracts Strong Institutional Interest

Poonawalla Fincorp Ltd (PFL) has announced the successful completion of its qualified institutions placement (QIP), raising ₹2,500 crore. The issue saw strong participation from institutional investors and long-term funds, reflecting continued confidence in the company’s strategy and growth outlook. Issue details and pricing The company issued 67,430,883 equity shares of face value ₹2 each to […]

CW Bureau · Apr 14, 2026

BANKING & FINANCE LIC Okays 1:1 Bonus Issue To Reward Shareholders And Enhance Liquidity

The Board of Directors of Life Insurance Corporation of India (LIC) has approved the issuance of bonus equity shares in a 1:1 ratio to existing shareholders, with the record date to be announced in due course. Subject to shareholders’ nodThe proposed bonus issue remains subject to shareholders’ approval. LIC’s authorised equity share capital stands at […]

CW Bureau · Apr 13, 2026

BANKING & FINANCE Fighting Fraud With Time: RBI Mulls Delay For High-Value Transactions

In order to eliminate frauds related to digital payments, the Reserve Bank of India is proposing the introduction of a lag before the execution of debits. This can act as a preventive control by disrupting the fraudster’s psychological influence over the victim and by giving the payer an opportunity to reconsider the transaction. Threshold for […]

CW Bureau · Apr 12, 2026

BANKING & FINANCE HUDCO, NBCC Join Hands To Drive Redevelopment, Asset Monetisation

In a strategic move to accelerate urban redevelopment and unlock value from public assets, Housing and Urban Development Corporation Ltd (HUDCO) has signed two Memoranda of Understanding (MoUs) with NBCC (India) Ltd (NBCC). Focus on redevelopment of prime Delhi asset As part of the agreement, both entities will jointly undertake the redevelopment of a leasehold […]

CW Bureau · Apr 12, 2026

BANKING & FINANCE Kotak Life Ranks 2nd In Customer Experience Study By Hansa Research

Kotak Mahindra Life Insurance Company Ltd (Kotak Life) has been ranked second among India’s life insurers in the Hansa Research Life Insurance Customer Experience Study (CuES) 2026, reflecting strong customer trust and engagement. Strong customer metrics The company recorded a Net Promoter Score (NPS) of 60, indicating high levels of customer loyalty, advocacy and satisfaction […]

CW Bureau · Apr 10, 2026

BANKING & FINANCE MUFG Bank Acquires 20% Stake In Shriram Finance For ₹39,618 Cr

MUFG Bank Ltd, a consolidated subsidiary of Mitsubishi UFJ Financial Group Inc (MUFG), has made a strategic investment of ₹39,618 crore towards acquiring 20% equity stake in Shriram Finance Ltd (SFL), thus marking one of the largest cross-border investments in India’s financial services sector. Strategic investment completed MUFG Bank acquired 47.11 crore equity shares of […]

CW Bureau · Apr 8, 2026

BANKING & FINANCE PayU Ties Up With 8B To Enable UPI Transactions Across Central Asia

8B, Central Asian fintech infrastructure company, and PayU, India’s leading diversified fintech platform, have signed a strategic partnership to bring UPI, one of the world’s fastest-growing digital payment systems, along with other Indian payment offerings, to Central Asia. API integration to enable seamless cross-border payments The integration of PayU’s APIs into 8B’s merchant network across […]

CW Bureau · Apr 8, 2026

BANKING & FINANCE RBI’s Repo Rate Status Quo Reflects ‘Safety-First’ Approach, says IOB MD

The Reserve Bank of India’s decision to keep the repo rate unchanged at 5.25% reflects a balanced and “safety-first” approach, prioritising macroeconomic stability, said Indian Overseas Bank MD & CEO Ajay Kumar Srivastava. Cautious policy amid global uncertainty While the Indian economy continues to demonstrate strong growth at 7.6%, a cautious stance is warranted amid […]

CW Bureau · Apr 8, 2026

BANKING & FINANCE RBI Holds Repo Rate Unchanged At 5.25%, Policy Stance Remains Neutral

The Reserve Bank of India, India’s banking regulator, has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25%. Consequently, the standing deposit facility (SDF) rate remains at 5%, and the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50%. The apex bank’s Monetary Policy Committee […]

CW Bureau · Apr 8, 2026