24 September 2026
Bankopedia Banking Digest — 2026-09-24 #177
- #1moneycontrolneutral
RBI Rate Path Diverges From Fed Policy
Bandhan Life Insurance's Avinash Agarwal expects the Reserve Bank of India to hike the repo rate by 50–75 basis points this cycle, driven by domestic inflation and growth dynamics rather than the US Federal Reserve's policy path. He views Foreign Currency Non-Resident [Bank] inflows as a volatility stabiliser, not a structural fix for India's current account pressures.
RBI likely to hike repo rate 50–75 bps this cycle, driven by domestic factors, not Fed moves.
monetary_policyinsurance - #2economic_timespositive
NABARD Drives Kisan Credit Card Outreach in Delhi
NABARD convened a multi-stakeholder meeting in Delhi to address field-level bottlenecks limiting farmers' access to Kisan Credit Cards, bringing together banks, government departments and development institutions. Officials noted that Delhi has roughly 20,000 landowners cultivating 28,000 hectares, yet Kisan Credit Card coverage among eligible farmers remains critically low.
NABARD pushes coordinated effort to expand Kisan Credit Card access across Delhi's 20,000 landowners.
financial_inclusioncredit_markets - #3economic_timespositive
JPMorgan Doubles Down on GIFT City Expansion
JPMorgan plans to double its business at Gujarat International Finance Tec-City (GIFT City), building on a $1 billion book and several hundred clients acquired since opening its branch in 2022. The expansion targets the growing trend of multinational corporations relocating treasury and cross-border financial operations to the centre.
JPMorgan targets doubling its GIFT City book, now at $1 billion, as MNC treasury demand surges.
capital_marketscorporate_finance - #4economic_timesneutral
Irdai Tightens Insurer Cost and Commission Limits
The Insurance Regulatory and Development Authority of India (Irdai) has proposed product-specific commission caps and a phased reduction in insurers' Expense of Management ratios, targeting 12.5% for life insurers and 20% for general insurers within five years. The regulator aims to lower distribution costs and improve policyholder value, with feedback due by October 25.
Irdai proposes cutting life insurer expense ratios to 12.5% of premium within five years.
insuranceregulation - #5economic_timespositive
CBDT Streamlines Property TDS for Non-Resident Transactions
The Central Board of Direct Taxes (CBDT) has simplified Tax Deducted at Source (TDS) compliance for resident buyers purchasing property from non-residents, allowing them to use their Permanent Account Number (PAN) instead of a separate Tax Deduction Account Number (TAN) from October 1, 2026. The revised procedure, notified under the Income-tax Rules 2026, uses a new PAN-based Form 141 for deposit and reporting.
From October 1, 2026, property buyers can use PAN instead of TAN for TDS on non-resident sellers.
regulation - #6economic_timesneutral
Maximising Returns on Idle Savings Balances
Retail savers can meaningfully improve returns by comparing savings account interest rates across banks and minimising unnecessary withdrawals. Understanding account features and periodically reviewing alternatives is key to optimising idle cash balances.
Comparing savings account rates across banks and limiting withdrawals can meaningfully boost returns.
digital_bankingfinancial_inclusion - #7reserve_bank_of_indianeutral
RBI Drains Liquidity With ₹25,000 Crore OMO Sale
The Reserve Bank of India will conduct an Open Market Operation (OMO) sale auction of government securities worth ₹25,000 crore on September 28, 2026, offering six securities maturing between 2029 and 2032. Eligible participants must submit bids electronically on the RBI's E-Kuber system between 9:30 am and 10:30 am on auction day.
RBI drains ₹25,000 crore liquidity via government securities OMO sale on September 28.
government_securitiesmonetary_policy - #8moneycontrolneutral
Tata Sons Listing Battle Tests RBI Authority
RBI's 30-month delay before rejecting Tata Sons' application to surrender its Core Investment Company registration has ignited a boardroom dispute over mandatory listing and Chairman succession. Legal challenges are likely, with Tata Sons expected to contest the proportionality of the regulatory directive.
RBI's 30-month delay in rejecting Tata Sons' de-registration bid risks legal challenge on proportionality grounds.
regulationbanking_supervision - #9moneycontrolneutral
Finance Ministry Launches Union Budget 2027-28 Consultations
India's Finance Ministry will launch pre-budget consultations from October 12, 2026, to finalise Revised Estimates for 2026-27 and Budget Estimates for 2027-28, with meetings continuing until November 13. Union Budget 2027-28 is expected to be presented on February 1, marking Finance Minister Nirmala Sitharaman's 10th consecutive budget.
Pre-budget meetings begin October 12; Union Budget 2027-28 targeted for February 1 presentation.
government_securities - #10moneycontrolneutral
DIIs Absorb FII Selling Pressure in Indian Equities
Foreign Institutional Investors (FIIs) turned net buyers on September 23, purchasing Indian equities worth ₹1,617 crore, while Domestic Institutional Investors (DIIs) bought ₹2,341 crore on the same day. Year-to-date, FIIs remain heavy net sellers at ₹3,70,533 crore, with DIIs countering with net purchases of ₹6,20,629 crore.
DIIs have absorbed ₹6.2 lakh crore in net equity purchases year-to-date, cushioning sustained FII selling.
capital_markets - #11economic_timesneutral
BRICS Unites on Transfer Pricing Reform
Finance Minister Nirmala Sitharaman has called on BRICS nations to coordinate on transfer pricing as renegotiation of international tax rules accelerates. India proposed two new working groups — on International Taxation and Transfer Pricing, and Revenue Statistics — to ensure developing economies shape cross-border tax frameworks for decades ahead.
India proposes BRICS working groups on transfer pricing to protect developing nations in global tax renegotiations.
regulationeconomy_macro - #12hindu_businesslinepositive
CGTMSE Guarantee Unlocks MSME Invoice Financing
The government has operationalised Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)-backed guarantee cover for receivables financed through the Trade Receivables Discounting System (TReDS), reducing lender risk on MSME invoices. Announced in Union Budget 2026-27, the measure aims to widen formal working capital access for micro and small businesses.
CGTMSE guarantee cover on TReDS receivables is now live, improving MSME access to formal working capital.
financial_inclusioncredit_markets - #13hindu_businesslineneutral
SEBI Eyes Margin Relief for Long-Tenure Derivatives
Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey has signalled a potential reduction in margin requirements for longer-tenure futures and options contracts to encourage long-term market participation. The regulator frames the move as part of a broader effort to reduce friction without compromising investor protection.
SEBI may lower margins on long-tenure F&O contracts to attract sustained, long-term derivatives participation.
regulationcapital_markets - #14hindu_businesslinepositive
India's Demat Boom Rewrites Capital Market Reach
India's demat account base has surged from 5 crore in 2020 to over 23 crore by 2026, driven by technology penetration into tier-2 and tier-3 towns, with NSDL holding assets worth over ₹550 lakh crore. The depository, marking 30 years since India's Depositories Act, now hosts over 1,20,000 issuers and is the world's largest depository by issuer count.
India's demat accounts have grown nearly five-fold since 2020, reaching 23 crore investors by 2026.
capital_marketsfinancial_inclusion