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"India’s Private Capex Cycle Appears to Be Gaining Momentum as Corporate and SME Credit Surges: Jefferies"
India’s private investment cycle is showing clearer signs of traction, supported by a robust expansion in bank credit, according to Jefferies. The brokerage said credit growth rose 18.1% year-on-year in mid-September, with corporate lending and loans to micro, small and medium industrial enterprises posting especially strong gains, a combination that points to firmer business confidence and a healthier pipeline for capital expenditure.
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Jio IPO Grey Market Signals Nearly 20% Pop as Brokerages Back Growth Story
Jio Platforms’ proposed Rs 30,200 crore initial public offering is drawing strong pre-listing interest, with the grey market premium at Rs 221 implying gains of nearly 20% over the issue price. Emkay Global and SBI Securities have pointed to the company’s telecom dominance, earnings momentum, digital expansion and technology edge, while warning that regulation, competition and capital intensity could temper enthusiasm.
IDBI Bank Q2 Profit Falls 39% on Base Effect, but Core Trends Improve
IDBI Bank reported a 39% year-on-year decline in second-quarter net profit to Rs 2,205 crore, weighed down by a one-off gain booked in the same period last year. Excluding that exceptional item, profit rose 14%, while asset quality improved, deposits grew 17% and advances increased 18%, signalling a firmer operating trajectory beneath the headline decline.
HDFC Bank Profit Rises 4.7% as Margin Pressure Persists Ahead of CEO Transition
HDFC Bank reported a 4.7% year-on-year rise in standalone net profit for the second quarter, supported by steady loan and deposit growth, even as margin pressure weighed on core profitability. Net interest income climbed 9.7%, but the lender’s earnings profile remained under strain as it prepares to welcome a new chief executive later this month, ending a prolonged period of succession uncertainty.
Government to Keep 15% in IDBI Bank as LIC Holds 19% in Strategic Exit Shift
The government will retain a 15% equity stake in IDBI Bank while Life Insurance Corporation of India will hold 19%, marking a significant restructuring of ownership ahead of the lender’s strategic disinvestment. Both shareholders will withdraw their nominees from the bank’s board and transition into public shareholders, underscoring the formal separation of state control from the sale process.
Banks Seek RBI Clarification on Forex Measures as Lenders Flag Liquidity and Cost Concerns
Indian banks have sought detailed clarification from the Reserve Bank of India on the implementation of its new currency-supporting measures, with lenders pressing for guidance on how foreign exchange risk reserves should be calculated and how those balances will affect liquidity ratios. They are also asking how costs will be passed on to customers, how exposure limits will be measured, and whether certain cash reserves can be treated as high-quality liquid assets.
Festive Demand May Lift Credit Growth by Up to 2% This Quarter, Says PNB Chief Ashok Chandra
Punjab National Bank Managing Director and Chief Executive Officer Ashok Chandra said festive demand has materially strengthened credit offtake and could add as much as 2% to loan growth in the current quarter. His remarks point to a seasonal but meaningful pickup in borrowing across retail and business segments, even as lenders continue to watch deposit mobilisation and broader liquidity conditions.
OnMeta Deepens Global Push With QazPost Pact to Explore Digital Financial Solutions
OnMeta has signed a memorandum of understanding with Kazakhstan’s national postal operator, QazPost, in a move that could extend its digital financial infrastructure into a broader physical distribution network. The agreement is aimed at exploring digital financial solutions and reflects a growing push by fintech firms to pair technology platforms with established last-mile reach.
Indian Investors Lift Paytm Parent’s Domestic Ownership to 56% as Institutions Deepen Exposure
One 97 Communications Ltd., the parent of Paytm, has seen Indian ownership rise above 56% in Q2 FY2027, underscoring a continued shift toward domestic capital in one of India’s most closely watched fintech names. Domestic institutional ownership has climbed to 29.5%, while foreign direct investment has eased to 18%, highlighting a changing shareholder mix with potentially important implications for market sentiment and governance.
ICICI Bank Faces ₹229 Crore GST Demand Over Minimum Balance Services
ICICI Bank has received a show cause notice from GST authorities seeking ₹229.14 crore in connection with services linked to customers maintaining minimum account balances. The notice, issued on September 30 by the Additional Commissioner at the CGST and Central Excise Division-IV, adds to the bank’s existing legal and regulatory overhang on a similar issue. The development underscores the continuing scrutiny of how banks classify and tax customer service charges, particularly in areas where fee structures intersect with indirect tax rules. ICICI Bank is already engaged in litigation over earlier notices involving comparable demands.
Traders Scrap 'No UPI Day' Protest After Meeting Sitharaman
Small-trader groups have withdrawn their proposed 'No UPI Day' protest after a meeting with Finance Minister Nirmala Sitharaman in New Delhi on Wednesday. The decision eases an immediate flashpoint over digital payments, though it also underscores continuing friction between merchants and the payments ecosystem over costs, compliance and settlement concerns.
IDBI Bank Q2 Profit Falls 39% on Base Effect, But Core Momentum Improves
IDBI Bank reported a 39% year-on-year decline in net profit to Rs 2,205 crore for the second quarter, largely reflecting a one-off gain booked in the comparable period last year. On an adjusted basis, profit rose 14%, while asset quality improved, deposits and advances expanded at a healthy pace, and net interest margin strengthened sequentially to 4.11%.
National Housing Bank Orders Forensic Audit of SRG Housing Finance Over Suspected Fictitious Loans
The National Housing Bank has initiated a forensic audit of SRG Housing Finance amid allegations of dubious lending practices, including fictitious loans and discrepancies in repayment records. The probe will examine consumer data, loan origination processes and account-level documentation as regulators seek to determine whether fraudulent activity inflated the lender’s books.