22 September 2026
Bankopedia Banking Digest — 2026-09-22 #175
- #1economic_timespositive
RNFI Money Gains Perpetual Cross-Border Remittance Licence
RNFI Money has received Reserve Bank of India approval to offer cross-border trade remittance and foreign exchange services through RNFI's last-mile network across India. The perpetual-validity licence positions the company to extend such services beyond conventional bank branches and metro forex counters.
RNFI Money's perpetual RBI licence enables last-mile cross-border payment access across India.
paymentsfintech - #2moneycontrolnegative
DICGC's Surplus Signals Premium Overcharge Debate
The Deposit Insurance and Credit Guarantee Corporation (DICGC) has accumulated a surplus of ₹2,11,366 crore beyond its actuarial liability, raising questions about whether premium rates are excessive relative to actual risk. From April 2026, DICGC has shifted to a risk-based premium structure, though the adequacy of this reform remains under scrutiny.
DICGC holds ₹2,11,366 crore in excess surplus, fuelling overcharging concerns against commercial banks.
banking_supervisionregulation - #3moneycontrolneutral
Crude Retreat Offers Brief Relief to Indian Markets
India's benchmark 10-year bond yield edged down to 7.0592 percent and the rupee opened firmer as Brent crude fell 2 percent to around $101 a barrel on hopes of US-Iran diplomatic engagement. Markets remain cautious, however, with the US 10-year Treasury yield near 5 percent continuing to divert capital toward safe-haven assets.
Brent crude's retreat to $101 a barrel eases pressure on Indian bonds and the rupee.
government_securitiesforexeconomy_macro - #4hindu_businesslineneutral
RBI Sets Basel III Market Risk Capital Directions
The Reserve Bank of India has issued directions aligning commercial bank market-risk capital requirements with the revised Basel III framework, effective April 1, 2027. Banks will be permitted to exclude certain structural foreign-currency investments from their Net Open Position calculations under the new rules.
RBI's Basel III market-risk capital directions take effect April 2027, with transition scalars already active.
banking_supervisionregulation - #5economic_timesneutral
India's Export Momentum Masks Mid-Tech Manufacturing Gap
HSBC Chief India Economist Pranjul Bhandari argues that rupee depreciation and new trade deals are boosting India's goods export competitiveness, but a structural gap in mid-tech manufacturing remains a key drag on sustained growth. She calls for policy certainty, regulatory reform, and infrastructure investment to build growth that does not rely on ongoing policy support.
India's rupee has depreciated 15% in real trade-weighted terms since early 2025, lifting export competitiveness.
economy_macroforex - #6economic_timespositive
Gold-Backed Credit Reshapes India's Lending Landscape
India's organised gold-loan market is projected to double to $169.07 billion (₹14.19 lakh crore) over five years from 2024, driven by widespread household gold ownership and borrower demand for flexible short-term credit. Asset-backed lending is gaining mainstream relevance as consumers increasingly leverage existing assets rather than liquidating them during periods of financial uncertainty.
India's organised gold-loan market is projected to double to $169.07 billion by 2029.
credit_marketsfinancial_inclusion - #7financial_expressneutral
ICAI Tightens Audit Oversight Across Public Sector Banks
The Institute of Chartered Accountants of India (ICAI) will make peer review mandatory for all public sector bank branch auditors from January 2027, expanding a framework currently limited to principal auditors and listed-entity audit firms. ICAI also plans to cut disciplinary case disposal time to 365 days and expects the expanded peer review exercise to cover around 15,000 audit firms.
ICAI mandates peer review for PSB branch auditors from January 2027, covering ~15,000 firms.
banking_supervisionregulation - #8reserve_bank_of_indianeutral
RBI OMO Sale Draws 3.4x Oversubscription From Market
The Reserve Bank of India (RBI) accepted ₹25,000 crore in its Open Market Operation (OMO) sale auction on September 21, 2026, attracting bids of ₹84,982 crore across six government securities maturing between 2027 and 2032. The 8.28% GS 2027 security received no accepted bids, while the 7.95% GS 2032 drew the highest demand with 127 bids.
RBI's OMO sale attracted ₹84,982 crore in bids against a ₹25,000 crore notified amount.
government_securities - #9hindu_businesslineneutral
Bulk Deposit Rate Rules Spark Competitive Disclosure Tactics
From October 1, banks must publicly disclose bulk deposit interest rates on their websites daily by 10:00 am, with a 10-minute grace period, under new Reserve Bank of India directions. Bankers expect most lenders to delay disclosure until 10:10 am to prevent rivals from undercutting them by offering 5–10 basis points higher rates.
Banks will likely delay bulk deposit rate disclosures to 10:10 am to deter rival undercutting.
regulationcredit_markets - #10financial_expresspositive
Specialised Investment Funds Gain Rapid HNI Traction at One Year
Specialised Investment Funds (SIFs) marked their first anniversary with net assets surging 35% month-on-month to ₹31,175 crore in August 2026, fuelled by strong demand for equity and hybrid strategies from affluent and high-net-worth investors. The milestone coincides with mutual fund systematic investment plan (SIP) contributions hitting a record ₹32,297 crore in the same month, signalling sustained retail investor appetite for equities.
SIF net assets surged 35% month-on-month to ₹31,175 crore in August 2026.
capital_marketsfinancial_inclusion - #11moneycontrolneutral
ICICI Prudential Life Votes for Rebranding
Shareholders of ICICI Prudential Life Insurance have overwhelmingly approved a name change to ICICI Life Insurance Limited, with 99.9994% of votes cast in favour. The rebranding awaits regulatory clearance from the Registrar of Companies and Ministry of Corporate Affairs before taking effect.
ICICI Prudential Life Insurance rebrands to ICICI Life Insurance, pending regulatory approval.
insurance - #12moneycontrolneutral
Filing ITR to Reclaim Dividend TDS Explained
Individuals with total income below the basic exemption limit must still file an Income Tax Return (ITR) if Tax Deducted at Source (TDS) has been deducted on dividend income and they wish to claim a refund. Filing Form 15G or 15H in advance can help eligible taxpayers avoid TDS deductions on dividends in future years.
File an ITR to reclaim TDS on dividends even if total income is below the exemption limit.
financial_inclusion - #13hindu_businesslineneutral
Jayanti Prasad Takes Interim IBBI Leadership
Jayanti Prasad, a Whole-Time Member of the Insolvency and Bankruptcy Board of India (IBBI), has been given additional charge as Chairperson effective September 13, following the retirement of Ravi Mital. The arrangement holds until November 20, 2026, or until a new incumbent joins, whichever is earlier.
Jayanti Prasad assumes additional charge as IBBI Chairperson until November 20, 2026.
npa_resolutionregulation - #14financial_expressneutral
Yield Compression Challenges India Warehousing Investors
India's warehousing sector is experiencing yield compression as intensifying institutional investor competition and rising land prices push yield-to-cost ratios down to 6.5–7%, from 8.5–9% just two years ago. Developers are responding by shifting to long-term land leases and recalibrating rental structures to protect returns.
Warehousing yield-to-cost ratios have fallen to 6.5–7%, squeezing investor returns significantly.
capital_marketscorporate_finance - #15economic_timesneutral
Hidden Fees Distort Used Car Loan Comparisons
Borrowers seeking used car loans often focus solely on headline interest rates, overlooking processing fees, mandatory insurance bundles, and documentation charges that can make a nominally cheaper loan more expensive overall. Pre-approved loan products aim to address this by offering fee transparency and faster disbursals, reducing the risk of late-stage cost surprises.
A 9.5% used car loan with added fees can cost more than a plain 10.5% loan.
credit_markets