Monetary Policy

Term Money, Vague Intent

RBI’s move to open the term money market widens access, but its effectiveness will depend on design and regulatory clarity aligning with its objectives.

R. Gurumurthy

April 10, 2026 at 3:27 AM IST

iStock.com

IBC Amendment Fixes Key Gap, Creates Some New Ones

Select Committee-backed reforms introduce voluntary, creditor-led resolution with management continuity, but restrictions and execution risks could dilute value outcomes.

TK Arun

April 7, 2026 at 4:28 AM IST

iStock.com

Accounting By Asterisk

Banks seek to defer MTM losses as yields rise, but masking volatility risks weakening discipline and blurring the line between transparency and regulatory convenience.

R. Gurumurthy

April 6, 2026 at 1:41 PM IST

iStock.com

RBI’s Currency Curbs Risk a Deeper Trust Deficit

Aggressive intervention may steady the rupee in the short term, but abrupt curbs on bank trades risk eroding market confidence and policy credibility.

Accrued Interest

April 6, 2026 at 10:08 AM IST

iStock.com

Indian Banks to Face Margin Pressure as Liquidity Tightens: Fitch

BasisPoint Insight

April 2, 2026 at 6:53 AM IST

Safeguarding Financial Stability amidst the West Asia Crisis

A framework for regulators and institutions to manage multi-channel shocks, combining liquidity support, sharper supervision and stronger internal risk discipline without distorting markets.

Anupam Sonal

March 30, 2026 at 10:01 AM IST

Managing the Rupee, Constraining the Market

RBI’s move can be seen as a necessary check on speculative bank positions, yet it may also narrow intermediation capacity and make rupee adjustment more abrupt.

R. Gurumurthy

March 30, 2026 at 8:33 AM IST

iStock.com

When Innovation Runs Ahead, Supervision Must Catch Up Fast

RBI is pioneering SupTech to keep pace with FinTech's rapid growth, but regulators worldwide must close the innovation gap before it becomes a chasm.

Rabi N. Mishra

March 24, 2026 at 5:46 AM IST

Basel’s Endgame Stalls as Regulators Wrestle with Bank Size

Basel III’s final leg is stuck between politics and prudence, as regulators struggle to balance big-bank risks with growth, competition and capital costs.

Rahul Ghosh

March 24, 2026 at 3:22 AM IST

Wladyslaw/ Via Wikicommon

India's Best-Run Banks May Have a Governance Debt Coming Due

A part-time chair’s vantage point reveals how long ESOP accumulation can shift internal power and complicate oversight in banks.

Krishnadevan V

March 23, 2026 at 8:16 AM IST

iStock.com

Large NBFCs Cannot Remain Exempt From Leadership Tenure Discipline

If systemically important NBFCs are large enough to matter to financial stability, they are large enough to face governance disciplines closer to banks. India should stop mistaking executive longevity for institutional strength and begin treating succession as a prudential obligation.

Srinath Sridharan

March 23, 2026 at 3:12 AM IST

iStock.com

The Comfort of Stability, The Cost of Silence

India’s bond market looks stable, but heavy RBI support and captive demand may be weakening price signals, distorting risk, and dulling its role as the system’s benchmark.

R. Gurumurthy

March 17, 2026 at 10:30 AM IST

iStock.com

Fixing Arbitrage: The Missing Link in India’s Bond Market

India’s bond market may deepen only when regulatory arbitrage fades and banks begin allocating capital using a clearer risk-adjusted return framework.

Rahul Ghosh

March 9, 2026 at 9:02 AM IST

iStock.com

India’s Bond Market Puzzle: The Missing Market Makers

India’s bond market lacks depth because trading remains thin. Unless natural players like the banks take a larger role in government and corporate debt, liquidity and benchmarks will remain weak.

Rahul Ghosh

March 6, 2026 at 7:47 AM IST

iStock.com

Supervising the System: RBI’s Quiet Governance Reset

As finance turns digital and interlinked, the RBI is redesigning supervision by shifting from balance-sheet checks to ecosystem-wide governance architecture.

Abhishek Dey

March 5, 2026 at 5:23 AM IST

RBI Tightens Grip on Banks’ Non-Core Sales Practices

New RBI rules on third-party product sales seek to curb mis-selling, realign incentives, and restore trust in banking distribution models.

K. Srinivasa Rao

March 3, 2026 at 7:00 AM IST

Mis-selling’s Structural Problem. But, What Next?

The Finance Minister’s warning on mis-selling signals overdue consumer concern. Durable reform will require possible FSDC involvement, incentives, supervision and culture across financial regulators to change and harmonise synergies together.

Srinath Sridharan

February 26, 2026 at 11:23 AM IST

iStock.com

Banking on Perfection in an Imperfect World

Indian bank stocks trade at premium multiples, but slowing incomes, retail credit risks and margin normalisation may test that confidence soon.

R. Gurumurthy

February 24, 2026 at 6:15 AM IST

iStock.com

RBI Wants M&A Deals Funded by Cash Flow, Not Pledged Shares

RBI tightens pledge-backed takeover funding while opening bank-led acquisition loans, shifting Indian M&A toward cash-flow strength and real equity.

Krishnadevan V

February 18, 2026 at 11:14 AM IST

iStock.com

Financing the Global South's Infrastructure Boom

Across the Global South, one of the biggest challenges is not just to build more infrastructure, but to build it right. Without institutional capacity and financial depth, the increasingly popular public-private-partnership model can backfire, creating a vicious spiral of debt, delays, and disillusionment.

Rakesh Mohan and Divya Srinivasan

February 18, 2026 at 3:18 AM IST

National Highway Authority of India

India’s Next Growth Phase Needs Regulatory Courage

With banks strong and inflation anchored, India’s risk is not fragility but comfort. Governing success will demand pre-emptive discipline.

Anupam Sonal

February 16, 2026 at 7:14 AM IST

Moody’s Sees Strong Growth Backdrop Supporting Indian Banks’ Stable Outlook

Moody’s said India’s strong economic growth and policy stability will support bank asset quality, profitability and capital buffers, keeping the sector’s outlook stable over the next 12–18 months.

BasisPoint Insight

February 9, 2026 at 6:03 AM IST

File Photo

MPC Review

Baby Steps, Festina Lente, and RBI’s June Policy Misstep

RBI once prized gradualism. A slower easing path may have aligned markets and transmission better than June’s big-bang move.

Kalyan Ram

February 7, 2026 at 10:51 AM IST

iStock.com

Time to Take a SIP of Deposits

As household savings shift to equities, Indian banks face a silent funding squeeze. Reimagining deposits through SIP-style CDs could restore stability.

Prakash Balakrishnan & Ganga Narayan Rath

February 6, 2026 at 3:22 PM IST

iStock.com

MPC Review

Liquidity Is Plenty, Confidence Is Scarce

Despite deep easing and ample liquidity, markets signal stress. Transmission has stalled, making confidence, not rates, the binding constraint.

Madhavi Arora

February 5, 2026 at 5:29 AM IST

Juvaida Khatun/Istock

MPC Review

RBI’s Easiest Decision May Be to Do Nothing

RBI likely to hold rates steady as growth holds firm and risks shift offshore

K. Srinivasa Rao

February 5, 2026 at 3:13 AM IST

MPC Review

RBI’s Rate-Cut Problem Is Not the Cut — It Is the Plumbing

India’s rate cuts are failing to move bond yields because the liquidity plumbing is broken, forcing markets to follow overnight rates rather than RBI signals.

D. Tripati Rao and Ritesh Gupta

February 4, 2026 at 6:43 AM IST

Banking Cannot Be Treated as Another Asset Class

Private equity supplies capital, not conscience, and banking regulation cannot rest on market optimism.

Srinath Sridharan

February 3, 2026 at 2:27 AM IST

Budget 2026

Govt for High Level Banking Panel, The Real Question Is Why Now

When a system is stable, profitable, and already reforming, a new committee raises more questions than it answers.

Mint Owl

February 1, 2026 at 2:42 PM IST

The Department of Financial Services

Budget 2026

India’s Bond Market Will Test the RBI in 2026-27

Nearly ₹30 trillion in bond supply and fragile demand mean yields will remain high in 2026–27 unless the RBI steps in as the buyer of last resort.

Yield Scribe

January 20, 2026 at 7:02 AM IST

Finance Ministry

Budget 2026

A Budget for Capital Formation, Not Just Fiscal Bookkeeping

India’s real budget challenge isn’t deficit maths but mobilising patient capital, deep savings and long-term risk-taking in a capital-scarce economy.

R. Gurumurthy

January 19, 2026 at 6:42 AM IST

iStock.com

Budget 2026

When Credit Scores Gatekeep, India Must Regulate Bureaus As Utilities

Once neutral data pipes, credit bureaus now decide who gets to borrow, build or belong. India must regulate them as public utilities before exclusion hardens.

R. Gurumurthy

January 16, 2026 at 9:26 AM IST

iStock.com

Briefing

Why the RBI Uses Buy-Sell FX Swaps and What They Really Mean

RBI’s buy-sell FX swaps are read as rupee signals. They are not. An explainer on why swaps manage liquidity and hedging, not the exchange rate.

V Thiagarajan

January 14, 2026 at 4:24 AM IST

A Quiet Reform That Puts India’s Insurance Model on Notice

India’s insurance reform gives the regulator power to fix broken incentives, cap commissions, curb mis-selling and reset profits towards protection.

Krishnadevan V

January 12, 2026 at 12:29 PM IST

IRDAI

Opinion

SME Credit: Too Political to Fail, Too Risky to Fund

SME credit isn’t stalled for lack of schemes, but because banks are asked to lend politically and price risk commercially—an impossible mix that turns credit into entitlement and caution into policy failure.

R. Gurumurthy

December 29, 2025 at 7:36 AM IST

IStock.com/paulprescott72

Infrastructure Debt Funds: Another Missing Piece in Circular Green Finance

Green finance has plenty of tools, but debt remains stuck. Why Infrastructure Debt Funds could unlock circularity—and why their absence is holding back climate investment at scale.

Arvind Mayaram

December 29, 2025 at 4:59 AM IST

iStock.com

NBFC Stability is About Models and Culture, Not Just Money

India’s NBFC strains are less about funding lines and more about flawed business models and weak risk culture. Fix those, and liquidity will follow.

Rahul Ghosh

December 26, 2025 at 3:18 AM IST

iStock.com

Risk Sensitive Banking: Strength, Scale and Stability Beyond 2026

Strong balance sheets give banks room to grow, but tighter liquidity, sharper risk norms and new capital rules will test how sustainably that growth is delivered.

K. Srinivasa Rao

December 24, 2025 at 6:10 AM IST

Will Customer Ever be the King in India?

Despite RBI’s call for customer-first policies, rising complaints highlight gaps in service. Can better training, tech tools, and accountability improve India’s banking experience?

Alpana Killawala

December 15, 2025 at 2:45 PM IST

iStock.com

Opinion

A Year of Recalibration at Mint Street

Governor Malhotra’s first year at the RBI brought cleaner rules, quieter reversals, and a distinct shift in tone as the technocrat adjusted to the institution’s rhythm.

Kalyan Ram

December 11, 2025 at 5:25 AM IST

RBI Tweets

MPC Moves Signal the Arrival of a Post-Cycle Policy Regime

Below-target disinflation, a structural liquidity pivot, and the RBI’s sharp separation of stance from liquidity signal a new level of complexity that requires a post-cycle reading.

Kalyan Ram

December 10, 2025 at 7:01 AM IST

Private Credit

The Cockroach Warning and the Garbage Lending

Private credit has grown into a vast, opaque engine of global finance, creating a blind spot where innovation surges but risk remains hard to see.

R. Gurumurthy

December 4, 2025 at 8:37 AM IST

Via WikiCommons

Rethinking SLR Through India’s Political Reality

Any debate on the SLR must be grounded in the political and fiscal realities, not in abstract theories of deregulation. And any rethink must acknowledge that liquidity reserving is not an Indian anomaly but a global norm for safeguarding stability.

Srinath Sridharan

December 3, 2025 at 7:34 AM IST

Central Banking

The Basel Consensus Is Cracking

Diverging US and global views on bank supervision are testing Basel III’s future. With oversight easing in Washington, the world waits to see if prudence holds.

Howard Davies

November 28, 2025 at 12:36 PM IST

Wladyslaw/ Via Wikicommon

Sandesara Settlement Could Rewire Credit Culture in India

Sandesara’s court-approved payout is seen as exchanging prosecution for payment, sharpening debate over fairness, consistency, and the erosion of India’s credit culture.

Krishnadevan V

November 27, 2025 at 10:17 AM IST

iStock.com/naveen0301

Metamorphosis of Warrants into Growth Capital for Indian Banks

Reimagined and repurposed as a sophisticated tool rather than supplementary device and an emergency rescue capital, warrants are now empowering India’s growing banks to channel global capital.

Chandrika Soyantar

November 24, 2025 at 12:11 PM IST

Why India Still Lacks a Credible Framework to Resolve Failing Banks

India shelved its FRDI Bill amid public panic, exposing deep trust and capacity gaps. Without a credible resolution regime, the next financial failure could prove far costlier.

R. Gurumurthy

November 23, 2025 at 8:05 AM IST

Malhotra’s RBI: Between Freedom and Friction

Malhotra completes his first year at the RBI next month. His tenure so far reveals a governor intent on pushing boundaries, loosening rules, and learning where freedom ends and systemic risk begins.

R. Gurumurthy

November 17, 2025 at 6:11 AM IST

RBI

The New Face of Bank Leadership

Banking isn't just business—it’s algorithms, accountability, and balance sheet acrobatics. So who belongs at the top?

Rahul Ghosh

November 10, 2025 at 10:36 AM IST

iStock.com

Briefing

The Paradox of Victory: The Winner’s Curse in India’s Bond Auctions

How India’s government bond auctions reveal the winner’s curse, where success can conceal costly misjudgements and shape financial market behaviour.

Babuji K

November 4, 2025 at 7:14 AM IST

iStock.com

Where Have All the Bankers Gone? India’s De-Risked Banking Paradox

In saving its banks from collapse, India has saved them from competition. In shielding them from loss, it may have shielded them from relevance.

R. Gurumurthy

November 4, 2025 at 6:34 AM IST

iStock.com/lakshmiprasad S

SEBI Wants to Wake Up India’s Sleeping Public Issue Bond Market

Can SEBI’s incentives revive India’s quiet public bond market? Will retail investors return if bonds feel safer, simpler—and just a bit more rewarding?

Venkatakrishnan Srinivasan

November 3, 2025 at 7:30 AM IST

iStock.com

Central Bank Ombudsman Faces its Own Test

A Bombay High Court case revives questions about the limits, fairness, and future of RBI’s redress architecture

Anupam Sonal

November 3, 2025 at 6:46 AM IST

RBI’s Auction Rebuff Calms Bonds, but Upside Risks to Yields Remain

India’s central bank’s surprise rejection of bids in a seven-year bond sale soothed markets briefly, yet underlying demand-supply tensions remain entrenched.

Yield Scribe

November 2, 2025 at 3:13 PM IST

Private Credit Is Completing India’s Financial Architecture

Private credit funds are fast becoming India’s third pillar of capital—flexible, disciplined, and the quiet architects of its next growth cycle.

Chandrika Soyantar

October 30, 2025 at 6:32 AM IST

Konkan Railway/WikiCommons

Building New Financial Institutions for Sustained Growth

To achieve 8–9% sustained GDP growth, India must build new banks, deepen NBFC capacity, and widen credit access beyond the current few institutions.

K. Srinivasa Rao

October 29, 2025 at 8:09 AM IST

iStock.com

Briefing

Why RBI’s ECL Mandate Puts Banks on a New Prudential Frontier

The new expected credit loss framework signals a shift in RBI’s supervisory philosophy, from reactive cleanup to forward-looking prudential control.

Babuji K

October 25, 2025 at 12:13 PM IST

Private Talent in PSBs Will Need Open Minds on Both Sides

Leaders supporting top management must be exposed to stronger risk appetite and sharpened marketing skills.

K. Srinivasa Rao

October 17, 2025 at 8:53 AM IST

The Department of Financial Services

India’s Banking Future Lies in Embracing Foreign Capital

India’s central bank and government are striking the right balance by allowing foreign capital into the banking sector while safeguarding stability.

Mint Owl

October 16, 2025 at 10:00 AM IST

Too Much Paper, Too Little Appetite: State Bond Strains Persist

BasisPoint Insight

October 14, 2025 at 4:50 AM IST

Money & Banking

RBI’s Silence Makes its Cheque Reform Harder to Clear

The central bank’s ambitious same-day cheque clearing plan has stumbled at launch. The real problem isn’t just about technology; it’s about communication, too.

Mint Owl

October 14, 2025 at 3:36 AM IST

RBI Loosens the Leash, Banks Must Tighten Risk

India’s new credit freedoms mark a turning point for banks, but the real reform lies in how they recalibrate risk, governance, and talent.

K. Srinivasa Rao

October 8, 2025 at 10:41 AM IST

Provisioning for Appearances: RBI’s Half-Hearted Tryst with ECL

Has the RBI truly embraced global best practices, or just adopted them for appearances? India’s half-hearted ECL rollout exposes a deeper discomfort with accountability.

R. Gurumurthy

October 6, 2025 at 4:37 AM IST

Guardrails Key as India Pushes Rupee Abroad

India’s rupee push is bold—but trade gaps, credit risks, and shallow liquidity mean guardrails are key for lasting internationalisation.

Quixotic Banker

October 4, 2025 at 12:28 PM IST

Monetary Policy

Risk-Based Premiums Must Lead to Higher Bank Deposit Insurance Coverage

RBI’s move to risk-based deposit insurance aligns premiums with bank risk, rewarding good banks and enabling higher protection for depositors.

Mint Owl

October 3, 2025 at 6:18 AM IST

Monetary Policy

Unguarded Lending Won’t Fix Investment Demand

RBI holds rates but eases bank lending curbs—IPO, M&A, securities finance. Yet without investment demand or PPP reforms, such a leeway won’t fix growth.

TK Arun

October 2, 2025 at 11:53 AM IST

Monetary Policy

RBI’s Baby Steps on Rupee Globalisation: Useful Nudges, But…

Recent announcements set the stage for rupee globalisation, but true scale awaits deeper trade and market adoption.

R. Gurumurthy

October 2, 2025 at 10:34 AM IST

Photo by Patrick Hendry on Unsplash

Monetary Policy

RBI Breaks Old Orthodoxy with Regulatory Measures

By dismantling outdated restrictions and aligning banks with global norms, the RBI signals a bold break from decades of financial orthodoxy.

Sachin Malhotra

October 1, 2025 at 9:11 AM IST

Briefing

Bitcoin Inside - Are We Smelling a Super-Prime Crisis?

Strive’s $1.3 billion deal shows how Bitcoin inside corporate wrappers creates systemic risk

R. Gurumurthy

September 24, 2025 at 9:13 AM IST

Istock/BlackJack3D

Customer Service: The Missing Core of Survival in Indian Banking

India wants global banking giants by 2047, but without fixing everyday service failures, trust may erode faster than balance sheets grow.

Anupam Sonal

September 23, 2025 at 6:57 AM IST

Wikimedia Commons

Why Indian Banks Need Risk-Based Capital Charge Mechanism

The three largest banks worldwide, excluding China, consume significantly lower levels of capital than India’s three largest banks.*

Rahul Ghosh

September 18, 2025 at 6:12 AM IST

PSU Bank Mergers Without Deal-Making Skills Will Have Little Global Impact

India's state-owned banks excel at lending but lose billion-dollar deals to global rivals. Why PSU banks need deal-making DNA for Viksit Bharat 2047.

Krishnadevan V

September 18, 2025 at 5:54 AM IST

iStock.com

India’s Bank Mergers: The Folly of Mistaking Size for Strength

Consolidation of India’s public banks offers scale without substance. Without governance reform and adjustments to their business models, they risk global irrelevance despite their domestic strength.

R. Gurumurthy

September 12, 2025 at 6:05 AM IST

iStock.com/lakshmiprasad S

Why Indian Banks Are Piling Capital Faster Than Assets Can Keep Up

Indian banks are stockpiling capital at a breakneck pace. Strong profits help, but can this momentum sustain if India aims to double its credit-to-GDP?*

Rahul Ghosh

September 5, 2025 at 9:07 AM IST

RBI Must Not Outsource the Craft of Supervision

Outsourcing bank supervision to consultants risks turning judgment into checklists. RBI should modernise without losing its supervisory wisdom.

R. Gurumurthy

September 4, 2025 at 12:50 PM IST

iStock.com

Compliance, the Competitive Edge in Modern Banking

As banking embraces AI, fintech and speed-of-swipe risks, compliance must evolve from a back-office ritual into the circulatory system that sustains trust and resilience.

Anupam Sonal

September 3, 2025 at 6:18 AM IST

iStock.com/lakshmiprasad S

Why Credit Growth Remains Tepid in India

Healthy balance sheets can’t offset muted demand as higher real rates and global headwinds weigh on investment appetite.

Rudra Sensarma

August 30, 2025 at 5:35 AM IST

File Photo

Indian Banks’ Capital Comfort to Face Twin Challenges

Can Indian banks sustain their capital strength once Basel’s Pillar-II and IND-AS 109 start demanding more?*

Rahul Ghosh

August 29, 2025 at 2:53 PM IST

Wladyslaw/ Via Wikicommon

Private Banks Lead Hiring as State Lenders Lose Ground in Workforce

India’s banking workforce is growing fast, with private and small finance banks driving change. But the gains are uneven across regions, roles, and gender.

Akshi Chawla

August 13, 2025 at 6:25 AM IST

File Photo

Why Data Must Become Strategic Core of Modern Banking

Banks sit on a data goldmine, but real value will only emerge from structure, speed, security, and a clear-eyed view of risk and responsibility.

Anupam Sonal

July 14, 2025 at 6:50 AM IST

Banks Are Stronger, But Operational Risks Are Mounting

India’s banks are well-capitalised and profitable, but rising third-party and tech-related risks threaten to undo hard-won stability.

K. Srinivasa Rao

June 25, 2025 at 5:39 AM IST

iStock.com/lakshmiprasad S

PSU Bank Privatisation: All Talk, No Action

Despite repeated budget announcements, the government has made little headway in privatising IDBI Bank or other public-sector financial institutions. Investors remain wary, and policy inertia has left critical decisions in limbo.

BasisPoint Groupthink

January 31, 2025 at 2:32 PM IST

The Bureau

IMD Sees Below-Normal Monsoon Rains for 2026; Rainfall Likely at 92% of Average

Equities Fall as Oil Breaches $100, West Asia Tensions Weigh

March CPI Rises to 3.40%, Highest in 12 Months as Food Prices Firm Up

US Threatens Naval Blockade of Hormuz, Escalates Iran Standoff

India’s capital flows outlook brightens as FDI holds firm, RBI says

India Remittance Flows seen Steady Despite West Asia tensions

Malhotra says RBI’s FX Steps Tactical, Not Structural

RBI Holds Repo Rate at 5.25% Amid Global Uncertainty: Key Policy Takeaways

Iran War Shadow: Livelihood Under Pressure in Post-MGREGA Rural India?

Learning to Shoot: I Tried to Fly Before I Could Walk