BANKING & FINANCE HDFC Bank Appoints Former Finance Secretary Rajiv Kumar As Chairman

HDFC Bank’s board has approved the appointment of former Finance Secretary Rajiv Kumar as the bank’s Part-time Chairman for a period of three years, effective from the date of approval by the Reserve Bank of India (RBI). The appointment fills the vacancy created after former Chairman Atanu Chakraborty resigned earlier this year, citing inappropriate conduct […]

CW Bureau · Jun 29, 2026

BANKING & FINANCE CreditAccess Grameen Raises ₹425 Cr Through NCDs To Support Growth

CreditAccess Grameen Ltd, a rural-focused inclusive financing platform, has raised ₹425 crore through a private placement of non-convertible debentures (NCDs) to strengthen its funding base. The fund raise comprised ₹325 crore of privately placed NCDs arranged by Nuvama Fixed Income Advisory and ₹100 crore of NCDs placed bilaterally with Bajaj Finance Ltd. Strong investor response […]

CW Bureau · Jun 29, 2026

BANKING & FINANCE As Vaswani Declines Another Tenure, Kotak Mahindra Bank Starts CEO Hunt

Kotak Mahindra Bank (KMB) has initiated the search for a new Managing Director & Chief Executive Officer after incumbent MD & CEO Ashok Vaswani informed the board that he does not wish to seek reappointment upon the completion of his current term on December 31, 2026, citing personal reasons. The bank’s board, at its meeting […]

CW Bureau · Jun 27, 2026

BANKING & FINANCE Mahindra Finance Eyes Disciplined Growth, AI-Led Transformation

Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) will focus on disciplined growth, deeper customer relationships and a diversified lending franchise as it enters a “more deliberate phase of growth.” In his message to shareholders, Chairman Anish Shah said the company’s priority remains to strengthen its leadership in vehicle financing while gradually building a more […]

CW Bureau · Jun 26, 2026

BANKING & FINANCE IDBI Bank To Focus On Customer-Centric, AI-Driven Banking Model

Private sector lender IDBI Bank will continue its transition towards a trust-led and customer-driven banking model, with a strong focus on customer satisfaction, customised products and seamless banking experiences. The bank’s strategic direction will remain anchored around building a customer-focused banking franchise while deepening relationship engagement and enhancing service delivery across channels. Retail focus The […]

CW Bureau · Jun 25, 2026

BANKING & FINANCE HDFC Life Steps Up Gen AI, Analytics And Digital Spending To Fuel Growth

HDFC Life Insurance Company is strengthening investments in advanced analytics, digital infrastructure, automation and Generative AI-led capabilities across its value chain as it seeks to enhance customer experience, improve operational efficiency and strengthen risk management. In his message to shareholders in the company’s Annual Report 2026, chairman Keki M Mistry said the insurer remains focused […]

CW Bureau · Jun 25, 2026

BANKING & FINANCE Gold Loan Lenders Well Protected Against Gold Price Correction Risks

Domestic gold loan lenders remain well insulated from risks arising out of potential corrections in gold prices, backed by strong risk management practices, prudent loan-to-value (LTV) ratios and efficient recovery mechanisms, according to a report by Crisil Ratings. The report noted that despite the recent increase in the regulatory LTV ceiling to 85% for loans […]

CW Bureau · Jun 25, 2026

BANKING & FINANCE India’s Non-Life Insurance Premiums Increase 8.7% To ₹24,195 Cr In May

India’s non-life insurance industry reported gross direct premiums of ₹24,195 crore in May 2026, registering a year-on-year (y-o-y) growth of 8.7%, according to a CareEdge Ratings report. The growth was driven primarily by strong momentum in health insurance, particularly the retail health segment, along with sustained expansion in motor insurance. Private insurers gain market share […]

CW Bureau · Jun 24, 2026

BANKING & FINANCE Policybazaar Unveils India’s First Health Claims Experience Index

Policybazaar has unveiled the Health Claims Experience (HCX) Index, which it describes as India’s first benchmark designed to measure how customers experience the health insurance claims journey. The index has been launched as part of the second edition of its nationwide consumer study, Is India Happy with Health Insurance Claims? 2.0. Measuring customer experience beyond […]

CW Bureau · Jun 22, 2026

BANKING & FINANCE SBI, NIIT Foundations Skill 350 Youth For BFSI Sector, Enable Jobs For 100

SBI Foundation and NIIT Foundation have enrolled nearly 350 young people and facilitated employment opportunities for more than 100 candidates under their industry-linked skilling initiative aimed at building a future-ready talent pipeline for India’s banking, financial services and insurance (BFSI) sector. Implemented under the SBIF LEAP – Skilling for the Future in Banking, Financial Services […]

CW Bureau · Jun 22, 2026

BANKING & FINANCE RBI Fines Five-Star Business Finance ₹6.20 Lakh Over Compliance Lapses

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹6.20 lakh on Chennai-based non-banking financial company (NBFC) Five-Star Business Finance Ltd for deficiencies in regulatory compliance. The penalty relates to the company’s failure to implement a robust software system for effective identification and reporting of suspicious transactions. The central bank also flagged […]

CW Bureau · Jun 20, 2026

BANKING & FINANCE YES Bank, Northern Arc Capital Tie Up For Credit Access, Digital Lending

YES Bank and Northern Arc Capital have entered into a strategic partnership to expand access to credit, scale digital lending and provide debt investment opportunities to customers. The collaboration brings together YES Bank’s balance-sheet strength, digital infrastructure and distribution capabilities with Northern Arc Capital’s underwriting expertise, technology platforms and origination network to expand formal credit […]

CW Bureau · Jun 19, 2026