Category: Banking & Finance

SBI posted a consolidated net profit of ₹77,561 crores (approximately $9.2 billion) in FY 25. According to Bloomberg data, this places SBI among the world’s most profitable companies, alongside global giants such as Alphabet, Apple, NVIDIA and JPMorgan Chase. State Bank of India (SBI), the country’s largest public sector lender, has emerged as the most […]

India and UK agreed on a free trade pact that gives British firms access to Federal Government contracts in select sectors – covering goods, services and construction – on a reciprocal basis. India is opening up a chunk of its protected Government procurement market to foreign firms, including the U.S, two Government sources said, in […]

RBI is examining shareholding norms and licensing rules for banks, as part of a broader review, Governor, Sanjay Malhotra said. India’s central bank is examining shareholding norms and licensing rules for banks as part of a broader review, Governor Sanjay Malhotra told the Times of India in an interview, less than a month after Japanese […]

The Reserve Bank of India (RBI) is considering easing investment norms for regulated entities (REs) in alternative investment funds (AIFs), following earlier restrictions aimed at financial discipline. A draft proposal suggests capping a single RE’s contribution to an AIF scheme at 10% of its corpus, with a 15% ceiling for all RE investments in a […]

Over the past two decades, Pakistan’s economic lead over Indian states like Tamil Nadu and Maharashtra has diminished significantly. In 2004-05, Pakistan’s GDP was $132 billion, while Tamil Nadu’s GSDP was only $48 billion. By 2023-24, Tamil Nadu’s GSDP has nearly equalled Pakistan’s GDP, reaching $329 billion, highlighting a growing economic divergence. Pakistan’s economic position, […]

Banks advised to expedite the resolution process by minimizing delays in filing CIRP applications. Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a review meeting today to monitor the progress of Public Sector Banks in clearing pending cases for admission at National Company Law Tribunal (NCLT). The review entailed a follow up on […]

Sumitomo Mitsui Banking will either buy less than 26% in Yes Bank and do a merger through a share swap or buy up to 26% and launch an open offer. Apart from SBI, other Yes Bank shareholders include Axis Bank, Kotak Mahindra Bank and HDFC Bank. Japan’s Sumitomo Mitsui Banking Corp. (SMBC) has secured Reserve […]

Congress spokesperson, Supriya Shrinate alleged that Union Bank of India placed an order for two lakh copies of a book authored by Subramanian, who had earlier served as Chief Economic Adviser to the Union Government. The Congress on Tuesday (May 6, 2025) claimed that Narendra Modi Government abruptly terminated K.V. Subramanian’s tenure as India’s Executive Director at […]

Marking a decade of the scheme, Prime Minister Narendra Modi Tuesday said that more than Rs 33 lakh crores of collateral-free loans have been sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) aimed at empowering individuals to showcase their entrepreneurial skills. He interacted with select beneficiaries at his residence in Delhi and said it has […]

Uday Kotak warns that India’s economic ‘animal spirits’ are fading as young business families focus more on investments than building companies. He urges policymakers to address the impact of US policies pulling foreign capital away. Kotak stresses the need for a national strategy to counter this challenge and navigate the current economic environment. Uday Kotak, […]