Cabinet approves Rs 52,878 crore sale of 60.72% stake in IDBI Bank to Fairfax entity

October 14, 2026 5:10 PM

Cabinet approves Rs 52,878 crore sale of 60.72% stake in IDBI Bank to Fairfax entity

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Canada-based Fairfax Financial Holdings Ltd. as the strategic buyer for a 60.72% stake in IDBI Bank for approximately ₹52,878.08 crore. The transaction comprises the sale of a 30.48% stake held by the Government of India and a 30.24% stake held by Life Insurance Corporation of India. Following the sale, the government will retain 15% and LIC 19% in the bank. The winning offer of ₹81 per share exceeded the benchmark valu...

Kautilya Economic Conclave concludes with focus on resilience, growth and global uncertainty

October 11, 2026 11:48 AM

Kautilya Economic Conclave concludes with focus on resilience, growth and global uncertainty

The fifth Kautilya Economic Conclave brought together more than 200 policymakers, economists, academics, financial experts and international thought leaders in New Delhi from October 3 to 5 to discuss how India and the global economy can build resilience amid geopolitical shifts, technological disruption and recurring economic shocks. Organised by the Institute of Economic Growth (IEG) in partnership with the Ministry of Finance, the three-day event was held under the theme “Resilience in an ...

India’s economy likely to grow 7.3% in Q2 FY27: Finance Ministry

October 1, 2026 1:00 PM

India’s economy likely to grow 7.3% in Q2 FY27: Finance Ministry

India’s economy is expected to grow by 7.3 per cent in the second quarter of FY27, supported by resilient domestic demand and investment, even as higher oil prices, tighter global financial conditions and trade uncertainties pose challenges to sustaining the growth momentum, the Ministry of Finance said in its Monthly Economic Review for September 2026. The review said the economy entered the second quarter from a position of strength after recording 7.8 per cent growth in Q1 FY27, the highes...

Nirmala Sitharaman inaugurates BRICS heads of tax authorities meeting in New Delhi

September 23, 2026 9:17 PM

Nirmala Sitharaman inaugurates BRICS heads of tax authorities meeting in New Delhi

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Wednesday inaugurated the BRICS Heads of Tax Authorities Meeting in New Delhi, marking the culmination of India’s BRICS Chairship of the tax cooperation track. The meeting brought together Heads of Tax Authorities and representatives from 10 BRICS tax administrations — Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates — to share experiences and discuss emerging ch...

Bankers’ Books Evidence Act, 2026 to come into force from October 1

September 11, 2026 6:37 PM

Bankers’ Books Evidence Act, 2026 to come into force from October 1

The Bankers’ Books Evidence Act, 2026 will come into force from October 1, 2026, replacing the 1891 law and providing a modern legal framework for the use of banking records as evidence in legal proceedings. The new legislation received the assent of President Droupadi Murmu on August 13, 2026. The Central Government, through a notification issued on September 10, appointed October 1 as the date for commencement of the Act. The Act seeks to modernise the legal framework governing banking rec...

SIDBI holds RRB conclave to expand co-lending for MSMEs in rural and semi-urban areas

August 26, 2026 3:16 PM

SIDBI holds RRB conclave to expand co-lending for MSMEs in rural and semi-urban areas

The Small Industries Development Bank of India (SIDBI) organised a conclave of the heads of Regional Rural Banks (RRBs) in New Delhi on Tuesday to discuss expanding the SIDBI-RRB MSME Co-Lending arrangement and strengthening credit access for micro, small and medium enterprises in rural and semi-urban areas. The conclave was chaired by Sanjay Lohiya, Secretary, Department of Financial Services (DFS), and was attended by Manoj Mittal, CMD, SIDBI, senior officials from DFS, SIDBI and NABARD, and ...

PSB Confluence 2026 ends with seven-point action plan, FM Sitharaman calls for month-long youth banking campaign from Oct 2

August 19, 2026 12:11 AM

PSB Confluence 2026 ends with seven-point action plan, FM Sitharaman calls for month-long youth banking campaign from Oct 2

The two-day PSB Confluence 2026 concluded on Tuesday with Public Sector Banks (PSBs) and Public Financial Institutions (PFIs) identifying actionable strategies across seven key themes to strengthen the banking and financial sector and support India's growth towards Viksit Bharat 2047. The conclave, organised by the Department of Financial Services (DFS), Ministry of Finance, brought together senior leadership of PSBs and PFIs, government officials and domain experts for discussions on emerging ...

Regional Rural Banks’ gross loans rise 10.3% to Rs 5.78 lakh crore in FY26, priority sector lending remains strong

August 18, 2026 7:27 PM

Regional Rural Banks’ gross loans rise 10.3% to Rs 5.78 lakh crore in FY26, priority sector lending remains strong

Regional Rural Banks (RRBs) recorded strong growth in credit delivery during 2025-26, with their gross loans outstanding rising 10.3 per cent to ₹5.78 lakh crore, up from ₹5.24 lakh crore in the previous financial year, according to data released by the Ministry of Finance on Tuesday. The performance highlights the continued role of RRBs in expanding institutional credit in rural areas, supporting agriculture, micro-enterprises and other underserved sections of the economy. RRBs also maint...

BRICS nations need stronger frameworks to mobilise private capital at scale: FM Sitharaman

August 12, 2026 6:45 PM

BRICS nations need stronger frameworks to mobilise private capital at scale: FM Sitharaman

BRICS economies, despite being major engines of global growth, face common structural challenges in mobilising private capital at scale, Union Finance Minister Nirmala Sitharaman said on Wednesday, calling for stronger, stable and predictable frameworks to encourage sustained private investment. FM Sitharaman made the remarks while delivering the keynote address at a seminar on “The Role of the New Development Bank in Mobilising Private Capital in Member Countries”, held on the sidelines of...