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    Fitch raises India's FY'27 GDP growth projections to 6.9 pc
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September 23, 2026
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GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
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FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
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Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 22, 2026
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Healthcare access integration enables local outpatient ticketing and appointment booking through banking correspondents, alongside employee banking and patient-support initiatives.
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
September 22, 2026
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Five-day banking demand drives a proposed nationwide bank strike after conciliation remains inconclusive during half-yearly closing.
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
September 22, 2026
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Five-day banking demand prompts continued dialogue as employees are urged to avoid strikes and maintain uninterrupted services.
Industrial-relations engagement addresses strike action seeking a five-day banking week and withdrawal of the Performance Linked Incentive scheme. The scheme has been kept in abeyance, while conciliation continues on the five-day workweek demand. Employees are urged to resolve issues through dialogue and maintain uninterrupted banking services. Workforce measures include revised pay scales, welfare benefits, streamlined recruitment and promotions, improved transfers, pension-related benefits, medical insurance, disability-related allowances, and early negotiations for the next Bipartite Settlement.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Rupee appreciation in early trade reflects lower crude prices and stronger domestic equities despite dollar demand.
Rupee appreciation in early interbank trading saw the currency strengthen by 24 paise to 95.72 per US dollar. Lower Brent crude prices, gains in domestic equities and improved foreign fund sentiment supported the currency, while importer demand for dollars and broader US-dollar strength limited gains. Market commentary identified a broad near-term trading range, and foreign-exchange reserves declined because foreign-currency and gold reserves fell.
September 21, 2026
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Private capital mobilisation for development financing requires predictable investment conditions, credible projects, fiscal transparency, and strengthened State capital expenditure.
Development financing for Viksit Bharat is framed as a joint Union-State and private-sector task requiring higher savings and investment, fiscally resilient public finances, and mechanisms to mobilise private capital. Fiscal sustainability requires State-wise debt assessments and fuller disclosure of off-budget borrowings, guarantees, arrears and borrowings through State-owned entities. Public resources are expected to play a catalytic role in attracting private investment, supported by predictable rules, enforceable contracts, faster dispute resolution and stronger investment protections.
September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.
September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.

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Celebrate Ganpati, Travel Smart With AU Credit Cards, and Enjoy Exciting Offers on Flights & Hotels

September 15, 2026

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From Ashtavinayak pilgrimages to family getaways, AU Small Finance Bank brings unmatched travel savings on MakeMyTrip, Yatra, EaseMyTrip, and more — just in time for India's most joyous festival.

Mumbai, Maharashtra, India – Business Wire India As India rings in the auspicious season of Ganesh Chaturthi with devotion, celebration, and togetherness, AU Small Finance Bank is ensuring that the journey to festivities is as rewarding as the destination itself. The bank's exclusive suite of travel offers on its credit card platform empowers cardholders to save big with exciting discounts and offers on leading travel booking platforms, zero or low-cost EMIs, and discounts of up to Rs. 10,000, making this Ganpati 2026 the ideal time to plan that long-overdue trip. Whether you hold the metal-edition AU Zenith+ Credit Card, the premium AU Ananta Credit Card, the travel-first ixigo AU Credit Card, the lifestyle-first AU Laksya Credit Card, the savings-focused AU Tejas Credit Card, or are making your very first credit move with the AU Prathama Credit Card, there is a festive travel offer crafted just for you.

The 10-day Ganpati festival is one of India's largest drivers of short-haul and religious travel. Pilgrim footfall surges across Ashtavinayak circuit routes in Maharashtra, Siddhivinayak and Dagdusheth. Ganpati draws visitors from across the country, and family reunions fuel demand for domestic flights and hotel bookings. Industry data shows travel intent spikes by over 35% in the August–September window, making timely, accessible travel deals more valuable than ever.

Exclusive Travel Offers for AU Credit Cardholders AU Small Finance Bank cardholders can redeem a curated set of travel offers across India's top booking platforms from instant discounts on flights and holiday packages, to no-cost EMI options that make premium travel affordable for every segment of customers, making every Ganpati getaway a rewarding one.

Flight & Hotel Offers PLATFORM DISCOUNT DETAILS Yatra Up to Rs. 10,000 Off On domestic & international flight bookings MakeMyTrip Up to 12% Off On domestic & international bookings EaseMyTrip Up to 12% Off Up to Rs. 4,500 off on flight & hotel bookings Paytm Flights Up to 12% Off Up to Rs. 4,500 off on domestic & international flight bookings Forex Card Special Rate Multi-currency Forex card exclusive offer These offers are live on the AU Small Finance Bank offers portal (offers.au.bank.in) and can be redeemed directly while booking through partner platforms. Cardholders simply need to use their Credit Card at checkout to unlock the savings no additional codes or prior registration required for most offers.

Find Your Perfect AU Credit Card for the Festive Journey AU Small Finance Bank offers a card for every kind of traveller this Ganpati season. Here's how each card elevates your festive travel experience: AU Zenith+ Credit Card (Metal Edition) "The crowning symbol of success" • Luxury Brand Vouchers / Reward Points worth Rs. 5,000 as Welcome Benefit.

• Up to 2 Reward Points per Rs. 100 spends (1 RP = Rs. 1).

• 16 International & 16 Domestic Airport Lounge Access per annum (max 4 per quarter).

• Up to 16 Buy One Get One Movie / Event Tickets per annum (max 4 per quarter).

• Taj Epicure Membership on spending Rs. 12 Lakh.

• Low Forex Fee of 0.99%.

AU Ananta Credit Card "Thoughtfully crafted for elevated lifestyles, travel and dining" • 8,000 Bonus Reward Points on activation + first transaction within 30 days.

• 5 Reward Points per Rs. 100 on shopping, dining & travel spends.

• Up to 15% instant discount at partner merchants.

• Airport Lounge Access for you and your family.

ixigo AU Credit Card "India's Most Rewarding Travel Credit Card" • 10% Instant Discount on Flight, Bus & Hotel Bookings.

• Zero PG Charges on Train Bookings.

• Zero Forex Mark-Up Charges.

• 8 Domestic Airport, 8 Railway Lounge and 1 International Airport Lounge Access per calendar year.

• 5,000 Bonus Reward Points on completion of Rs. 75,000 spends per quarter.

AU Laksya Credit Card "Turn everyday expenses into the most rewarding experiences" • 4,000 Reward Points or Rs. 1,000 voucher Welcome Benefit.

• 5 Reward Points on grocery, departmental store & contactless transactions.

• 8 Domestic Lounge Visits per year.

• 15% Instant Discount and movie benefits.

AU Tejas Credit Card "Maximise your savings and rewards with each spend" • 2,000 Reward Points or Rs. 500 voucher Welcome Benefit.

• 10% Cashback on partner categories.

• 500 Bonus Reward Points on milestone spending.

AU Prathama Credit Card "Make your first move & each spend work harder for you" • 2 Reward Points per Rs. 100 on contactless spends.

• 500 Bonus Reward Points on recurring payment/standing instruction setup.

• 1% Fuel Surcharge Waiver.

Travel Now, Pay Smart — No/Low Cost EMI Options For customers planning extended festive holidays or larger travel spends, AU Small Finance Bank also offers flexible no-cost or low-cost EMI plans bundled with instant discounts on select platforms.

EMI + Instant Discount Offers PLATFORM EMI BENEFIT MAX INSTANT DISCOUNT MakeMyTrip No / Low Cost EMI 10% up to Rs. 5,000 Yatra No / Low Cost EMI 10% + cashback up to Rs. 7,500 Ixigo No / Low Cost EMI 10% up to Rs. 5,000 Why Ganpati Season Is the Smart Time to Book Ganesh Chaturthi marks the beginning of India's festive travel calendar. Pilgrimage routes to the eight Ashtavinayak temples in Maharashtra Morgaon, Siddhatek, Pali, Mahad, Theur, Lenyadri, Ozar, and Ranjangaon — see a dramatic uptick in bookings. Beyond religious travel, city-dwellers use the extended holiday window for Goa getaways, hill station retreats to Mahabaleshwar and Lonavala, and family reunions across the country.

For digital-first customers using AU Credit Cards, this creates a prime window to extract maximum value from platform discounts, EMI benefits, and the bank's growing ecosystem of lifestyle and travel rewards.

How to Claim These Offers AU Credit Cardholders can browse the complete offer catalogue at offers.au.bank.in. The Travel section lists all active partner deals with validity dates and eligible card variants. Customers are advised to check offer-specific terms — including minimum transaction values and applicable card tiers — before booking to ensure seamless redemption.

For international travellers planning overseas trips during the festive window, the AU SFB Multi-Currency Forex Card offer provides an additional layer of savings on currency conversion, available to both existing and new cardholders. New customers looking to apply for the Zenith+, Ananta, ixigo AU, Laksya, Tejas, or Prathama card can visit au.bank.in to explore features and apply online in minutes.

Spend, Celebrate and Manage with Ease on AU 0101 Supporting every festive purchase is the AU 0101 mobile banking app, which enables customers to conveniently track Credit Card transactions, monitor outstanding balances, check account details, convert eligible purchases into EMIs, and manage Credit Card bill payments from a single platform. Whether planning festive travel, shopping for loved ones, or managing everyday expenses, the app helps customers stay in control of their spending while enjoying a seamless digital banking experience.

About AU Small Finance Bank AU Small Finance Bank Limited (AU SFB) is a Scheduled Commercial Bank and has established itself as India's largest Small Finance Bank since commencing its banking operations in April 2017. Founded in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU is entering its 10th year as a Bank, guided by a deep-rooted "Dharma" of customer-centric service. The Bank has received an in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank. As a tech-led bank, AU delivers differentiated digital experiences through innovations such as 24x7 Video Banking, WhatsApp Banking, chatbots, UPI QR solutions, merchant lending, and its award-winning AU 0101 app.

AU SFB's wide network of 2,920 banking touchpoints across 21 States and 4 Union Territories enables service to more than 1.2 crore customers, powered by a workforce of 58,400+ employees. As on 30th June 2026, Bank had shareholders' funds of Rs. 20,885 cr, deposit base of Rs. 1,57,727 cr, total loan portfolio of Rs. 1,44,250 cr and a balance sheet size of Rs. 1.9 Lac cr+. AU SFB is listed on NSE and BSE. Its fixed deposits are rated AA+/Stable by CRISIL Ratings, while its long-term/subordinated debt/Tier II Bonds are rated AA/Stable by CRISIL, CARE and ICRA Ratings. Its short-term rating is A1+ by CRISIL, CARE and India Ratings.

For more details, visit: www.au.bank.in | LinkedIn | Facebook | X | Instagram *Offer terms and conditions apply. Discounts and cashback are subject to minimum transaction values, eligible card variants, and offer validity periods. Card benefits are subject to respective card terms. AU Small Finance Bank is regulated by the Reserve Bank of India. Please visit offers.au.bank.in and au.bank.in for complete offer and card details.

(Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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