BANKING & FINANCE Cholamandalam Finance To Expand AI Use Across Business Operations

Cholamandalam Investment and Finance Company Ltd. (Chola) is exploring artificial intelligence (AI)-led interventions in its collections business and plans to extend the technology to sales and credit functions with a strong focus on governance and accountability. In his message to shareholders, Executive Chairman Vellayan Subbiah said technology continued to be a key enabler across customer […]

CW Bureau · Jul 7, 2026

BANKING & FINANCE Neo Asset Closes ₹1,000 Cr Real Asset Yield Fund In Under 5 Months

Neo Asset has achieved the final close of its Neo Real Asset Yield Fund at its target corpus of ₹1,000 crore, completing the fundraising in less than five months. The open-ended Category III Alternative Investment Fund (AIF) invests across privately and publicly listed Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The company […]

CW Bureau · Jul 6, 2026

BANKING & FINANCE ICICI Prudential Charts Promoter Shift Amid Prudential’s Bharti Life Deal

A proposed acquisition by Prudential Corporation Holdings Ltd is set to trigger significant governance changes at ICICI Prudential Life Insurance. In a regulatory filing, ICICI Prudential Life said its promoters, ICICI Bank and Prudential Corporation Holdings Ltd, have executed a Letter of Undertaking to address governance and management-related matters while Prudential pursues the acquisition of […]

CW Bureau · Jul 5, 2026

BANKING & FINANCE Standard Chartered Completes Swift Remittance To India In 37 Seconds

Standard Chartered has processed an end-to-end international remittance to India in 37 seconds using Swift’s retail payments scheme, marking what the bank described as a world-first transaction under the framework. The payment originated from Westpac in Australia and was routed through Standard Chartered, which enabled near real-time credit to the beneficiary bank in India. Faster […]

CW Bureau · Jul 3, 2026

BANKING & FINANCE QBE Acquires Full Ownership Of Raheja QBE General Insurance Firm

Australian insurer QBE Insurance Group Ltd has acquired 100% ownership of Raheja QBE General Insurance Co. Ltd following approval from the Insurance Regulatory and Development Authority of India (IRDAI). The acquisition ends the company’s 18-year joint venture with Prism Johnson Ltd and marks a significant step in QBE’s expansion strategy across Asia. Following the transaction, […]

CW Bureau · Jul 2, 2026

BANKING & FINANCE South Indian Bank’s Advances Jump 17% In Q1 FY27, Deposits Up 11.39%

South Indian Bank has reported healthy business growth for the quarter ended June 30, 2026, with both its gross advances and deposits continuing to register double-digit growth, reflecting sustained momentum in its lending and deposit franchise. According to the bank’s provisional business update, gross advances increased 17.01% year-on-year to ₹1,04,366 crore, while total deposits rose 11.39% […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE HiWiPay Gets IFSCA Nod To Set Up Payment Services Arm In GIFT City

Cross-border payments platform HiWi Forex Transaction Services Pvt Ltd (HiWiPay) has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to establish a wholly-owned subsidiary as a payment service provider (PSP) at the GIFT International Financial Services Centre (GIFT IFSC). The approval marks a significant milestone for the fintech company as it seeks […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE PNB Strengthens Digital Lending, Bets On Shram Saathi And PM e-Svanidhi

Punjab National Bank is expanding financial inclusion through its digital lending initiatives, including PNB Shram Saathi and the PM e-Svanidhi Scheme, offering collateral-free loans to frontline workers and street vendors. Punjab National Bank (PNB) has reaffirmed its commitment to advancing financial inclusion through digital banking by expanding access to formal credit for frontline workers, community […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE Paisalo Promoters Raise Stake To 46.72%, Back AI-Led Growth Strategy

Paisalo Digital Ltd said its promoters have increased their shareholding by 4.97% through open-market purchases, taking their stake to 46.72% in Q1 of FY27 against 41.75% in FY26. Promoter holding has risen steadily from around 26% in FY19 to about 37% in FY25, 41.75% in FY26 and 46.72% in Q1FY27, reflecting continued confidence in the […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE Indian Banks Remain Resilient With Strong Capital, Liquidity: RBI Report

India’s banking system remains resilient, with scheduled commercial banks (SCBs) supported by strong capital and liquidity buffers, improving asset quality and stable profitability, the Reserve Bank of India (RBI) said in its June 2026 Financial Stability Report (FSR). The central bank said the consolidated balance sheet of SCBs continued to strengthen during FY2025-26, with healthy […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE Wealth First Acquires 51% In Mumbai Wealth Firm, Targets ₹20,000 Cr AUM

Wealth First Portfolio Managers Ltd has acquired a 51% stake in Mumbai-based Wealth First Advisors Pvt. Ltd. (WFAPL) at an equity valuation of ₹102.15 crore, with a five-year target of more than doubling its assets under management (AUM) to around ₹20,000 crore. Ahmedabad-based Wealth First, India’s first listed independent financial advisor (IFA) practice, said the […]

CW Bureau · Jul 1, 2026

BANKING & FINANCE Ujjivan Eyes Universal Bank Status With Digital, Diversified Growth

Ujjivan Small Finance Bank Ltd is focused on building a diversified, technology-enabled and customer-centric institution as it advances towards its long-term aspiration of becoming a universal bank. “As we look ahead, our ambition extends beyond growth in scale,” Ujjivan Small Finance Bank Chairman B.A. Prabhakar said in his letter to shareholders. Growth priorities He said […]

CW Bureau · Jun 30, 2026