Banking

Citi's Bala, HSBC's Dave, ICICI Pru's Bagchi in the running, but brokerage says insider succession beats outsider risk amid merger drag.

HDFC Bank has reappointed V Srinivasa Rangan and Jimmy Tata as Whole-Time Directors, according to an exchange filing on Saturday, September 13. The lender has also submitted names of two candidates for the position of MD & CEO.

Digital banking channels will function as usual, meaning customers will face no disruption in carrying out routine transactions.

Canara HSBC Life Insurance received an IRDAI order imposing a Rs 1 crore penalty over policyholder interest, along with additional directions and an Action Taken Report.

The brokerage's list spans fintechs, a bank and an NBFC: Groww, Paytm, PB Fintech, AU Small Finance Bank and Poonawalla Fincorp.

Bank employees across India begin a nationwide strike demanding a five-day workweek, potentially disrupting public sector bank operations.

Axis Bank's domestic deposit growth remains healthy, while FCNR(B) deposit mobilisation has outpaced the bank's overall deposit market share of around 5%, management told investors.

His departure comes during a period of leadership transition at Kotak Mahindra Bank.

For financial services, he stressed, AI systems cannot operate with a 99% accuracy threshold when the consequences of a mistake can involve customer funds and financial security.

While encouraging fintech growth, Malhotra stressed that innovation must remain linked to trust, safety and consumer protection.

While declining to disclose specific figures ahead of official earnings disclosures, Chaudhry confirmed the bank's share of these inflows sits well above its domestic deposit market share of roughly 5%.

Fairfax, founded by Indian-born Canadian billionaire Prem Watsa, is holding talks with global private equity firms for a potential sale, the people said, asking not to be named discussing private matters.