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India is on track to continue as the fastest-growing economy among G-20 nations in the upcoming financial year. The country’s real GDP expected to expand by 6.4% in fiscal 2026-27, according to a recent report by Moody’s Ratings. The brokerage also predicted that over the next 12-18 months, banking sector will remain stable, thaks to…
File photo: Union finance minister Nirmala Sitharaman (Picture credit: ANI) NEW DELHI: Presenting the Budget, finance minister Nirmala Sitharaman has proposed setting up a “High Level Committee on Banking for Viksit Bharat”, to comprehensively review the sector and align it with India’s next phase of growth.“I propose setting up a ‘High Level Committee on Banking…
Union finance minister Nirmala Sitharaman on Sunday announced the setting up of a high-level committee on “Banking for Viksit Bharat”, signalling a comprehensive review of the financial sector as India prepares for its next phase of economic growth.“I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and…
Union Budget 2026 is knocking on the door and different sectors have laid out their expectations and demands from the government. According to a report by the State Bank of India, this Budget can be an opportunity for the central government to introduce reforms in taxation, insurance and pension schemes aimed at boosting household savings,…
Banking operations at public sector banks across the country are likely to be disrupted on Tuesday as bank unions go ahead with a nationwide strike to press for the immediate implementation of a five-day work week.The strike, called by the United Forum of Bank Unions (UFBU)—an umbrella body of nine unions representing bank officers and…
Global financial services major JP Morgan has leased nearly 2.7 lakh sq ft of office space in Mumbai’s Powai. The deal involves rental payments of over Rs 612 crore over five years, making it one of India’s largest enterprise flexible workspace leases.The office space has been leased by JP Morgan at One Downtown Central, formerly…
Reserve Bank of India Deputy Governor Swaminathan J on Friday called for a fundamental shift in banking supervision, stressing that oversight must move from periodic, point-in-time assessments to continuous awareness, as digital risks increasingly redefine financial stability, PTI reported. Speaking at the Third Annual Global Conference of the College of Supervisors on ‘Issues and Challenges…
Morgan Stanley has now issued an AI job warning for the banking sector. More than 2,00,000 banking jobs in Europe could be lost in over next four years as lenders are accelerating the adoption of artificial intelligence and planning to close branches, according to analysts at Morgan Stanely. As reported by Financial Times, the investment…
The Reserve Bank of India on Tuesday announced a fresh liquidity infusion, unveiling plans to purchase government securities worth Rs 2 lakh crore and conduct a $10 billion dollar-rupee swap auction to ease conditions in the banking system.The central bank said the open market operations (OMO) purchases and the USD/INR buy-sell swap auctions will be…
MUMBAI: State Bank of India plans to double its mobile banking customer base to 20 crore over the next two years from the current 9.4 crore with the launch of Yono 2.0, chairman C S Setty said on Tuesday. To help customers transition to the new digital platform, the bank will expand its in-branch digital…
