7 in 10 Indian Banks Run AI in Production; Security and Control, Not ROI, Is Now the Main Brake on Scale: Zeta Survey

7 in 10 Indian Banks Run AI in Production; Security and Control, Not ROI, Is Now the Main Brake on Scale: Zeta Survey

Survey of 40 CXOs across 18 leading banks and NBFCs finds AI live in bounded, reviewable use cases, with roughly three-quarters of technology and risk leaders naming security and data privacy as the leading barrier to going further.

Most banks direct less than 10% of new-project technology spend to AI, and four in ten digital leaders cannot yet point to a high-ROI use case, pointing to value that is real but not yet repeatable.

Zeta today announced the findings of its 2026 CXO survey on the state of AI in Indian banking, based on responses from 40 CXOs across 18 leading banks and NBFCs. AI is now in production at most institutions: 70% of CDO respondents place their banks at selective or scaled deployment, including 30% at scaled deployment. Adoption is strongest in bounded, reviewable areas such as customer service, fraud and risk analytics, document processing and software testing. Integration into end-to-end workflows and consequential decisions is at an earlier stage.

The survey points to a clear divide between piloting AI successfully and deploying it repeatably at scale. Banks have proven that AI works in production. What remains harder is reproducing that success across the institution without rebuilding data, integrations and controls for every new use case. The technology estate is more connected than ever, but the capabilities that make it usable by AI, from permissioned data and AI-operational infrastructure to engineering controls, governance and skills, are developing at different speeds.

Investment reflects this. Most institutions surveyed direct less than 10% of new-project technology spend to AI, including some with AI across multiple functions. The survey suggests this is not a lack of conviction: lack of ROI clarity is the lowest-rated barrier, and executive scepticism and employee resistance rank below skills and security. Banks are measured because control, not appetite, sets the pace.

Key findings from the survey

AI is creating meaningful operational impact, but it remains concentrated in structured workflows.

• - 88% of COO respondents identify retail lending as an area where AI is delivering meaningful impact.
• 75% cite customer service.
• 63% each cite CASA and back-office operations.

Banks are confident about data availability; making it usable for AI is the harder problem.

• 80% of CIOs and CTOs describe their data environment as mostly ready for AI at scale.
• 61% point to insufficient labelled or training data.
• 53% to privacy and consent.
• 46% to siloed data.
• 67% are using or piloting AI to enhance or enrich their data.

Technology assets are connected; making them operable by AI is the next step.

• Real-time data platforms and API-first architectures: 79% adoption.
• Core modernisation and cloud: 64%.
• Advanced analytics and MLOps: 43%.

AI has a foothold in software engineering; adoption thins as AI moves from producing to executing.

• 80% report using AI in testing and QA.
• 60% in code generation.
• 40% in code review.
• 30% each in specifications, documentation, deployment, CI/CD, and incident detection.

Banks are preparing to take AI into consequential decisions; governance is developing alongside.

• 60% of CROs identify AI-led credit-risk models, predictive early-warning systems and real-time fraud decisioning as top priorities.
• 60% say Responsible AI frameworks are under development.
• 20% describe model-risk management as very mature.

AI is changing work before it changes workforce size; internal capability-building is catching up.

• Half of operations leaders expect AI-led productivity gains to release capacity for redeployment.
• None expect workforce reductions above 20%.
• Banks are building AI skills faster through specialist hiring (3.33/5) and external partners (3.0/5) than internal development (1.0/5).

From selective production to repeatable scale

Taken together, the findings suggest Indian banking has moved past the challenge of taking AI from experiment to production. Production adoption is real but selective, concentrated where the problem is well understood, outcomes can be reviewed and existing controls contain the consequences of error.

The question now is whether banks can take what works in these settings and reproduce it across the institution without rebuilding the surrounding data, integrations, controls and engineering practices each time. The survey indicates that this depends on two shared foundations rather than more individual deployments: a core that AI can use, with banking meaning and permissions travelling with the data, and a control layer that establishes what AI may access, decide and execute and keeps a record of it.

“Indian banks have shown that AI creates value in production. The next challenge is making that success repeatable, and the survey is clear about what stands in the way: not conviction, but control,” said Sivaram Kowta, President, Zeta India.

About the Survey

Zeta's 2026 CXO survey on AI in Indian banking draws on responses from 40 CXOs across 18 leading banks and NBFCs, including CIOs, CTOs, CDOs, CROs and COOs. It examines AI adoption and the institutional capabilities required to scale it across data and infrastructure, operations and workflows, engineering and SDLC, governance and trust, and workforce and organisation.

About Zeta:

Zeta is a next-gen banking technology company. Its cloud-native and fully API-enabled platform supports card processing, issuing, lending, core banking, fraud management, loyalty programs, digital banking apps, and more. With over 1,700 employees globally, Zeta empowers financial institutions to innovate and rapidly launch compliant financial products. Globally, customers have issued over 25M cards using Zeta’s platform.

Media Contact:
Aafia Feroze | [9902491526](tel:9902491526) | aafiaf@zeta.tech

IndusInd Bank Joins Global PCAF Framework to Advance Carbon Accounting and Strengthen Climate Disclosures

The partnership strengthens the Bank's commitment towards measuring and managing emissions associated with financial activities in support of a low-carbon economy

Mumbai, August 18, 2026: IndusInd Bank, today, announced that it has joined the Partnership for Carbon Accounting Financials (PCAF), a global collaboration of financial institutions working to develop and implement a harmonised approach for measuring and disclosing greenhouse gas (GHG) emissions associated with financial activities.

As part of its sustainability journey, IndusInd Bank is committed to integrating environmental, social and governance (ESG) considerations into its business strategy and risk management processes. Joining PCAF marks an important milestone in the Bank's efforts to enhance transparency, strengthen climate-related disclosures, and establish a robust framework for measuring and managing the carbon footprint associated with its lending and investment portfolio.

PCAF enables financial institutions to assess and disclose the emissions linked to their financial activities, helping them better understand climate-related risks and opportunities while supporting the transition to a more sustainable economy. With more than 750 financial institutions participating globally, PCAF has become the leading framework for Scope 3 Category 15 accounting.

IndusInd Bank has been steadily advancing its sustainable finance agenda by financing renewable energy, energy efficiency, sustainable infrastructure, and other climate-positive sectors. By adopting the PCAF methodology, the Bank aims to establish a credible baseline for emissions associated with financial activities, identify decarbonization opportunities across sectors, and support customers in their transition towards lower-carbon business models.

ABOUT INDUSIND BANK

IndusInd Bank Limited has been redefining banking for the past 32 years and has been a force for progression and innovation, offering an elevated banking experience for its diverse range of stakeholders, including government entities, PSUs, retail customers, and large corporations. The Bank’s product offerings include microfinance, personal loans, debit/credit cards, SME loans, advanced digital banking facilities, affluent and NRI banking services, vehicle financing, and innovative ESG-linked financial products.

The Bank also caters to the growing Indian diaspora with representative offices in Dubai, and Abu Dhabi. As of June 30, 2026, IndusInd Bank serves around 42 million customers through 3,137 branches/banking outlets and 2,853 ATMs, reaching 1.60 lakh villages across India. IndusInd Bank leverages technology through its 'Digital 2.0' strategy, ensuring multi-channel delivery and a robust digital infrastructure. In each of its unique offerings that include ‘INDIE’ – the one-stop-shop for all things digital banking; innovation and customer centricity remain at the core. IndusInd Bank holds clearing bank status for major stock exchanges BSE and NSE, settlement bank status for NCDEX, and is an empanelled banker for MCX.

RATINGS

Domestic Ratings:

• CARE A1+ for Certificate of Deposits
• CRISIL A1+ for certificate of deposit program / short term FD programme
• CRISIL AA+ for Infrastructure Bonds program/Tier 2 Bonds
• IND AA+ for Issuer Rating by India Ratings and Research
• IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research

International Rating:

• Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service

Visit us at www.indusind.bank.in

About the Partnership for Carbon Accounting Financials (PCAF)

The Partnership for Carbon Accounting Financials was launched globally in September 2019. Currently, more than 750 financial institutions have subscribed to the PCAF initiative. PCAF signatories work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions associated with their financial activities. By doing so, PCAF signatories take an important step to subsequently assess climate-related risks, set climate targets, and develop effective strategies to decarbonize their portfolios.

For more information see https://carbonaccountingfinancials.com/

Media inquiries please contact:

Addie Fairley, Communications Lead, PCAF Secretariat, E: info@carbonaccountingfinancials.com

Anshu Jain, Lead – PR, IndusInd Bank, E: mediarelations@indusind.com

Bank of Baroda Raises $700M Through Overseas Bond Issuances

• The Dual tranche issuance received a strong investor response with peak order book of USD 2.67 billion

Bank of Baroda, India’s International Bank, has raised USD 700 million through a dual-tranche overseas bond issuance comprising 3-year and 5-year Senior Unsecured Fixed Rate Notes under its USD 4 billion Medium-Term Note Programme. The issuances, undertaken through the Bank’s International Financial Services Centre Banking Unit at GIFT City, received a strong response from investors, with the order book peaking at USD 2.67 billion, representing demand of nearly 3.8 times the final issue size.

The Bank raised USD 400 million through the 3-year tranche at a coupon of 5.114% per annum (representing a spread of 90 basis points over the 3-year US Treasury rate). A further USD 300 million was raised through the 5-year tranche at a coupon of 5.318% per annum (a spread of 100 basis points over the 5-year US Treasury rate). Strong investor demand enabled the Bank to significantly tighten pricing from the Initial Pricing Guidance of 3-Year US Treasury + 120 basis points for the 3-year tranche and 5-Year US Treasury + 130 basis points for the 5-year tranche. The Bank achieved the tightest-ever spread over the US Treasury in the history of its bond issuances.

Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “The exceptionally strong investor response to our USD 700 million bond issuance reflects deep market confidence in the Bank, its financial resilience and clear strategic direction. The competitive pricing achieved, coupled with strong participation from high-quality international investors, reinforces our ability to efficiently diversify our funding base and support our long-term growth priorities."

The issue has been rated BBB (Stable) by S&P, BBB- (Stable) by Fitch and BBB+ (Stable) by CareEdge Global. The bonds will be listed on the India International Exchange (IFSC) Limited (India INX), NSE International Exchange (NSE-IX) and Singapore Exchange (SGX-ST)

The notes will be settled on 20 August 2026 and will mature in August 2029 and August 2031, respectively

SBI Raises $500M in Overseas Bond Issue

State Bank of India, acting through its London branch, has announced the conclusion of successful pricing of USD 500 million of “Regulation S” bonds at a coupon rate of 5.25 per cent. The bond is benchmarked against the 5yr US Treasury and priced at a spread of 88 bps over the benchmark. The bonds will be listed on SGX-ST, India INX and NSE-IX.

The transaction received an overwhelming response and saw strong interest from investors across geographies with a peak orderbook of USD 2.46 billion with 145 investors. On the basis of strong investor demand, the price guidance was revised from T+120 bps area to T+88 bps resulting in price compression of 32 bps. The Notes will carry rating of BBB, BBB- and BBB+/Stable from S&P, Fitch and CareEdge Global respectively.

SBI Chairman Shri CS Setty

Commenting on the transaction, Shri Challa Sreenivasulu Setty, Chairman, SBI said “The successful pricing of USD 500 million, during the ongoing global uncertainities, is a testament to the strong appetite for bonds of SBI and to the diversified investor base the Bank has in offshore capital markets, allowing it to efficiently raise funds from the leading global fixed income investors. The issue has priced at the tightest spread among all Indian public bond issuances since the RBI swap window announcement and reflects the confidence of the global investors in India’s growth story in general and credit quality of SBI in particular. The tight pricing achieved amid the evolving global macro environment has demonstrated containment in the borrowing cost for issuers from India. ”

BNP PARIBAS, Citigroup, Crédit Agricole CIB, Emirates NBD Bank PJSC, HSBC (B&D), MUFG, and Standard Chartered Bank were the Joint Bookrunners for this offering.

India Trials Plastic Currency: Durable Notes Set to Transform Cash Handling

India has officially approved field trials of polymer (plastic) ₹10 and ₹20 notes, but paper currency will continue to circulate. The Reserve Bank of India (RBI) will test 2 billion polymer notes under varying conditions to assess durability, cost savings, and public acceptance.

Polymer currency notes are made of a specialized plastic film called biaxially oriented polypropylene (BOPP), a petroleum-derived plastic film, which is engineered to be durable, secure, and resistant to wear. In India’s upcoming trials, the ₹10 and ₹20 notes will use this polymer substrate instead of paper.

India to Test Plastic Currency

Key Facts

• Trial Size: 2 billion polymer notes (₹10 and ₹20 denominations).
• Approval Date: July 2026, under the RBI Act 1934.
• Objective: Test durability, crease resistance, climate resilience, and handling feedback.
• Paper Notes: Will not be withdrawn; polymer notes will circulate alongside them.
• Fake Rumors: PIB clarified that viral claims of replacing all paper notes by June 30, 2026 were false.

Why Polymer Notes?

Feature	Paper Notes	Polymer Notes
Durability	1–3 years average	5–7 years average
Resistance	Susceptible to tearing, moisture	Resistant to heat, humidity, dust
Security	Standard watermark, thread	Advanced embedded security features
Cost	Higher replacement cost	Lower lifecycle cost
Environmental Impact	Frequent disposal	Longer lifespan reduces waste

Global Context

• Countries using polymer notes: Australia, Canada, UK, New Zealand.
• Benefits observed: Longer lifespan, reduced counterfeiting, lower printing costs.
• India’s plan: Evaluate similar benefits before nationwide rollout.

Risks & Challenges

• Public Acceptance: People may find texture unfamiliar.
• Counterfeit Adaptation: Criminals may attempt new methods.
• Environmental Concerns: Disposal of polymer notes requires specialized recycling.
• Digital Payments Impact: Polymer notes will not affect India’s digital transaction ecosystem.

What This Means for You

• No immediate change: Your paper notes remain valid.
• Polymer notes may appear soon: Watch for ₹10 and ₹20 denominations.
• Savings for RBI: Longer lifespan could save thousands of crores in printing/disposal costs.

NRE FD vs NRO FD in a Falling Rate Cycle: Which Locks in Better Value Now?

Interest rate cycles influence many financial decisions, including decisions about investing in Fixed Deposits (FDs). During a falling rate cycle, many Non-Resident Indians (NRIs) consider locking in prevailing interest rates before they decline further. However, choosing between an NRE FD and an NRO FD involves more than comparing interest rates. The right option depends on the source of your funds, tax treatment, and financial objectives. Understanding how both deposits work can help you make a more informed decision.

Understanding the difference

Although both are Fixed Deposits designed for NRIs, they serve different purposes.

Feature	NRE FD	NRO FD
Source of funds	Overseas earnings	Income earned in India
Currency	Indian Rupees	Indian Rupees
Typical use	Savings from overseas income	Managing India-sourced income
Tax treatment of interest	Generally, exempt from income tax in India for eligible NRIs under applicable laws	Interest is generally taxable in India as per prevailing tax laws

The appropriate deposit depends primarily on where the money originates rather than which deposit offers a higher interest rate.

Why falling interest rates matter

When market interest rates are expected to decline, locking funds into a Fixed Deposit at current rates may help preserve returns for the chosen tenure. Many investors consider Fixed Deposits during such periods because they:

• Offer predictable returns over the selected tenure.
• Reduce uncertainty from future rate changes.
• Help with financial planning.
• May suit conservative investment preferences.

However, interest rates vary across banks and tenures, so it is important to compare the available options before investing.

When an NRE FD may be suitable

An NRE FD may be appropriate if you:

• Earn your primary income outside India.
• Want to invest overseas earnings in India.
• Wish to benefit from the applicable tax treatment available to eligible NRIs under Indian law.
• May need to repatriate eligible funds in the future.

Interest earned on eligible NRE Fixed Deposits is generally exempt from income tax in India, subject to your residential status and the prevailing provisions of the Income-tax Act and FEMA regulations.

When an NRO FD may be more appropriate

An NRO FD is generally suitable when the funds originate in India. Examples include:

• Rental income
• Pension receipts
• Dividend income
• Interest income
• Other India-sourced earnings

Interest earned on NRO Fixed Deposits is generally taxable in India according to the applicable tax provisions.

Choosing the right deposit

Instead of focusing only on interest rates, consider these factors before investing.

Consideration	Why it matters
Source of funds	Determines whether an NRE FD or NRO FD is appropriate
Tax treatment	Tax implications differ between the two deposit types
Investment tenure	Helps align the deposit with your financial goals
Liquidity needs	Consider when you may require access to the funds
Repatriation requirements	Important if you expect to transfer eligible funds overseas

Reviewing these factors provides a more complete basis for selecting the right deposit.

Conclusion

During a falling interest rate cycle, locking in current deposit rates can be a sensible strategy for many NRIs. However, deciding between an NRE FD and an NRO FD should depend on the source of your funds, applicable tax treatment, and long-term financial objectives rather than interest rates alone. Understanding the distinct purpose of each deposit can help you make a well-informed investment decision while managing your finances efficiently across countries.

FAQs

What is the difference between an NRE FD and an NRO FD?

An NRE FD is generally funded using overseas earnings, while an NRO FD is used for money earned in India, such as rent or pension.

Is the interest earned on an NRE FD taxable in India?

Interest is generally exempt from income tax in India for eligible NRIs, subject to the applicable provisions of the Income-tax Act and prevailing regulations.

Is interest in an NRO FD taxable?

Interest earned on an NRO FD is generally taxable in India according to the applicable tax laws.

Which deposit is better during a falling interest rate cycle?

The better choice depends on your source of funds, tax considerations, and financial goals rather than interest rates alone.

Can I have both an NRE and an NRO FD?

Yes. Eligible NRIs may maintain both deposit types if they have both overseas earnings and income generated in India.

Axis Finance Unveils Drishti, Its In-House Digital Rules Engine to Transform Loan Decisioning With Speed and Intelligence

• Configurable digital platform to enhance speed, consistency and data-led decisioning across loan journeys
• Aims to improve turnaround times and strengthen risk oversight across retail and MSME lending

Axis Finance Limited (AFL), one of India’s fast-growing non-banking financial companies (NBFCs), today announced the launch of Axis Finance Drishti, its in-house Business Rules Engine (BRE). The platform is designed to bring greater speed, consistency and intelligence to credit decision-making. In its first phase, Drishti has been rolled out for Personal Loans, Business Loans, Loan Against Property and Disha Home Loans.

Developed as a configurable digital platform, Drishti enables automated and policy-driven credit assessments by combining underwriting workflows with data-led insights and statistical scorecards. The platform incorporates real-time decisioning, dynamic policy implementation and integration with multiple data sources including alternate data to support both straight-through processing (STP) and assisted credit journeys.

The initiative has been introduced in alignment with AFL’s core strategy, ‘Grow the Good’, to strengthen its digital lending & technical capabilities and enhance the overall borrowing experience for customers. It is expected to drive operational excellence by enabling faster, smarter and more scalable credit decisioning, improving efficiency while delivering a more seamless and frictionless loan journey.

With Drishti, AFL aims to bring greater standardization to credit evaluation, thereby enhancing consistency and governance in lending decisions. This marks a key step in Axis Finance’s ongoing focus on leveraging technology and analytics to simplify lending processes while reinforcing disciplined risk management and operational efficiency.

Commenting on the development, Sai Giridhar, MD & CEO, Axis Finance Limited, said, “At Axis Finance, our focus is on building a more agile and analytics enabled lending ecosystem. With the launch of Axis Finance Drishti, we are strengthening our ability to deliver faster, more consistent credit decisions by embedding intelligence, advance analytics and automated credit workflows into our core decisioning frameworks, while maintaining strong governance and risk discipline. As we scale, investments in such capabilities will be critical to enhancing customer experience, improving portfolio quality and supporting sustainable portfolio growth.”

Axis Finance continues to prioritise customer experience through ongoing investments in technology and process improvements. Over the past year, the Company has introduced initiatives such as ABC Scorecards to enhance objectivity in credit assessment and an AI-assisted quality monitoring framework for collection, reinforcing fair and transparent customer interactions. Together, these efforts reflect AFL’s focus on combining analytics, technology and governance to drive more efficient and customer-centric lending journeys.

About Axis Finance Limited

AFL was incorporated in India on 27th April 1995 and is a subsidiary of Axis Bank. It is a non-deposit accepting non-banking finance company (NBFC) regulated by the RBI.

AFL is a diversified, AAA rated NBFC serving Retail, MSME and Corporates with a clear focus on lending to India’s enterprise ecosystem. On the retail front, AFL offers a diversified suite of products including Loans Against Property, Personal Loans, Business Loans, Shakti M-LAP, Disha-HL, Home Loans, Kushal Loans and Vyapar Loans. In the MSME segment, the Company operates through its dedicated Retail Banking Group (RBG), Business Banking Group (BBG), and SME verticals. The corporate portfolio includes Collateralized Lending, Corporate Financing, and Real Estate Funding.

How to Compare Savings Account Returns Using an Interest Calculator

Choosing a savings account involves more than looking at advertised returns. Different banks may have different account features, eligibility conditions and methods of calculating interest. A savings account interest rate calculator helps estimate the potential return on your savings based on the information you enter. By comparing these estimates using the same assumptions, you can make a more informed decision before proceeding with online bank account opening.

Why an interest calculator is useful

Manually comparing several savings accounts can be difficult. An interest calculator simplifies the process by estimating how much your savings could earn over a selected period. Although the result is only an estimate and not a guaranteed return, it provides a useful basis for comparing different accounts fairly.

Information entered	Purpose
Deposit amount	Estimates return on your planned savings
Savings period	Shows how time may affect estimated earnings
Applicable interest assumptions	Calculates potential returns
Estimated return	Helps compare different accounts consistently

Using the same details for every calculation makes the comparison more meaningful.

Information to keep the same

For a fair comparison, use identical inputs for every account you evaluate. These should include:

• The same deposit amount
• The same savings period
• The applicable interest assumptions
• Similar account eligibility, where relevant. 

Changing these values between calculations can produce misleading results and make comparisons less reliable.

How to compare savings account returns

• Decide on a single deposit amount.
• Select the same savings period for every calculation.
• Use the savings account interest rate calculator for each account with identical inputs.
• Record the estimated return for every account.
• Compare the estimated returns before reviewing other account features.

Comparison factor	Account A	Account B
Deposit amount	Same	Same
Savings period	Same	Same
Estimated return	Compare	Compare
Other account features	Compare	Compare

Looking beyond the calculation

The calculator helps estimate potential returns, but it should not be the only basis for your decision.

Also compare:

• Digital banking facilities
• Transaction security
• Minimum balance requirements
• Applicable charges
• Customer support
• Convenience of everyday banking

Once you have reviewed both the estimated returns and account features, you can proceed with online bank account opening if the selected account meets your banking requirements.

Common mistakes to avoid

• Comparing different deposit amounts
• Changing the savings period between calculations
• Ignoring account conditions
• Focusing only on estimated returns
• Overlooking the overall banking experience

Conclusion

A calculator provides a practical way to estimate and compare potential returns across different savings accounts. By using identical inputs, interpreting the estimated results carefully and then comparing account features, you can make a balanced decision before completing online bank account opening.

FAQs

• What is a savings account interest rate calculator?
  It estimates the potential return on your savings based on the information entered.
• Why should I use the same inputs for every calculation?
  Using identical inputs makes the estimated returns easier to compare fairly.
• Does the calculator show guaranteed returns?
  No. It provides estimated results based on the information entered and the applicable assumptions.
• Should I compare only the estimated returns?
  No. You should also compare account features, applicable conditions and everyday banking facilities.
• When should I complete the online bank account opening?
  Proceed after comparing both the estimated returns and the overall suitability of the account.

Best NRI Account Options in India: Exploring the Rise of GIFT City Accounts

Introduction

Choosing the best NRI account in India depends on your source of income, banking requirements, investment goals, and whether you need to manage funds in Indian Rupees or foreign currencies. While NRE and NRO Accounts continue to be the foundation of NRI banking, GIFT City has introduced a new category of banking solutions designed specifically for international financial management.

A GIFT City account enables eligible NRIs to hold foreign currency balances while accessing the regulatory advantages of India's International Financial Services Centre (IFSC). Understanding how these account options differ can help NRIs build a banking strategy that suits their global financial needs.

Understanding the main NRI account options

NRIs today have access to multiple banking solutions, each designed for a different purpose.

Account Type	Primary Purpose
NRE Account	Manage overseas income in Indian Rupees
NRO Account	Manage income earned in India
GIFT City Account	Hold foreign currency balances and manage international banking requirements

Rather than replacing one another, these accounts often complement each other.

NRE and NRO Accounts remain the foundation

For many NRIs, an NRE or NRO Account is the first banking relationship established in India.

An NRE Account is generally suitable for:

• Overseas salary and foreign income
• Full repatriation of principal and interest
• Managing savings in Indian Rupees
• Tax-efficient savings, subject to applicable laws

An NRO Account is commonly used for:

• Rental income
• Pension
• Dividends
• Other income earned in India

Together, these accounts continue to address most day-to-day NRI banking requirements.

Why GIFT City Accounts are gaining popularity

A GIFT City account offers features that differ from traditional NRI accounts because it operates through the International Banking Unit (IBU) at GIFT City under the applicable IFSCA framework.

Some of its current features include:

• Hold balances in USD and EUR. 
• Competitive interest rates with monthly interest credits. 
• Interest is currently exempt from tax in India, subject to applicable regulations
• Zero Average Monthly Balance requirement
• Zero account maintenance charges
• Zero international fund transfer charges
• Freely repatriable balances
• Digital banking through mobile banking
• Dedicated Relationship Manager for eligible customers

Comparing traditional NRI accounts and GIFT City Accounts

Feature	NRE Account	GIFT City Account
Currency	Indian Rupees	USD and EUR
Primary Use	Overseas earnings remitted to India	Foreign currency banking
Interest Credits	As per account terms	Monthly
Repatriation	Freely repatriable	Freely repatriable
Average Monthly Balance	Applicable as per account variant	Zero
International Fund Transfer Charges	As applicable	Zero

The right choice depends on how you earn, hold, and use your money.

IDFC FIRST Bank's FIRST Global Savings Account

Gift City Account represents one of the newest additions to the bank's NRI banking portfolio.

Some notable features include:

• Available to eligible NRIs, OCI cardholders, and PIOs
• Accounts available in USD and EUR
• Attractive interest rates with monthly interest credits
• Digital transfers through the IDFC FIRST Bank Mobile App
• Ability to transfer funds between eligible NRE Accounts and the FIRST Global Savings Account
• Access to GIFT City Fixed Deposits for customers seeking fixed returns on foreign currency balances

For customers looking for the best NRI account in India, the FIRST Global Savings Account complements traditional NRE and NRO banking rather than replacing it.

Which account should you choose?

Banking Requirement	Recommended Option
Overseas earnings in Indian Rupees	NRE Account
Income generated within India	NRO Account
Foreign currency savings	GIFT City Account
Foreign currency fixed returns	GIFT City Account with GIFT City Fixed Deposit

Many NRIs benefit from maintaining more than one account because each product serves a different financial objective.

Conclusion

The best NRI account in India depends on your individual banking needs rather than a single product. NRE and NRO Accounts continue to provide essential solutions for managing overseas and domestic income, while the GIFT City account has emerged as an innovative option for customers seeking foreign currency banking, digital convenience, and access to GIFT City's internationally aligned financial ecosystem. Evaluating your income sources, investment goals, and currency requirements can help you choose the right combination of banking products.

FAQs

What is a GIFT City Account?

A GIFT City account is a foreign currency savings account offered through the International Banking Unit of IDFC FIRST Bank at GIFT City.

Is a GIFT City Account different from an NRE Account?

Yes. An NRE Account is maintained in Indian Rupees, while a GIFT City Account currently allows eligible customers to hold balances in USD and EUR.

Can I have both an NRE Account and a GIFT City Account?

Yes. Eligible customers can maintain both accounts because they serve different banking purposes.

Who can open a FIRST Global Savings Account?

Eligible NRIs, OCI cardholders, and PIOs can open the account, subject to the bank's eligibility requirements.

Can I transfer funds between my NRE Account and GIFT City Account?

Yes. IDFC FIRST Bank currently allows eligible transfers between NRE Accounts and the FIRST Global Savings Account.

Standard Chartered Processes Real Time Remittance Payments to India within Seconds

Standard Chartered today announced that it has processed a remittance payment under the new retail payments scheme from Swift. In a world-first, Westpac (Australia) sent a transaction to India via Standard Chartered via this scheme. Leveraging its advanced capabilities in India, Standard Chartered enabled near real-time credit to the beneficiary bank, demonstrating a major leap in the country’s payment ecosystem.

This transaction was completed in 37 seconds end-to-end. This reiterates the Bank’s ability to complete an end-to-end transaction with any participating bank in India in record time using Swift rails. As well as the fastest possible settlement time, Swift’s retail payments scheme delivers benefits to both senders and receivers of international payments, including end-to-end transparency so that a payment can be tracked, upfront certainty of cost with no hidden fees, and no surprise FX deductions, so that the amount that is sent is exactly what lands in the beneficiary’s bank account.

At an event hosted by Swift in collaboration with the Indian Banks’ Association, focused on modernising payments, P D Singh, CEO, India & South Asia, Standard Chartered was felicitated to mark the achievement as the first bank in India to process a payment under the Swift scheme.

P D Singh, CEO, India & South Asia, at Standard Chartered, said, “Our cross-border and network capabilities have been the cornerstones of the Bank’s sharp focus across key markets including India. It is indeed a moment of great pride for Standard Chartered, India, to be globally the first bank to process a payment within seconds under Swift’s retail payment scheme. We’re enabling people all over the world to send money back to India just as easily as they can send money domestically.

With this initiative they will get a truly best-in-class payments experience backed by the security of the banking ecosystem, and we’re delighted to be working with the industry to make it possible,” Singh added.

Kiran Shetty, Chief Executive of Swift India and South Asia, said, “This demonstrates the power of Swift’s cutting-edge capabilities; leveraging its existing global rails to drive real transformation in cross-border payments. For India, the world’s largest recipient of remittances, where they play a significant role in GDP, this evolution is particularly critical.

By enabling greater speed, transparency, and an improved customer experience, bringing cross-border payments closer to the simplicity of domestic UPI; Swift is helping unlock a new standard for remittances. Standard Chartered Bank’s initiative is a strong proof point that this shift is not only possible, but already underway in India, with the potential to redefine how remittances are experienced. It is also highly encouraging to see the continued regulatory push in India supporting this direction, further accelerating the move towards a faster, more transparent, and customer-centric payments ecosystem anchored by Swift,” Shetty added.

Kotak Mahindra Bank to Acquire Deutsche Bank’s India Retail, Private, and Wealth Units

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• A strong strategic fit with Kotak’s affluent and SME focus; consistent with Deutsche Bank’s Global Hausbank strategy

Kotak Mahindra Bank Ltd. (“KMBL” / “Kotak”) and Deutsche Bank AG (XETRA: DBKGn.DB / NYSE: DB), acting through its India branch, today announced that they have entered into a definitive agreement for Kotak to acquire Deutsche Bank’s retail banking, affluent private banking and wealth management business in India.

The business comprises approximately INR 29,000 crore (Euro ~2.7 billion) in loans, INR 16,000 crore (Euro ~1.5 billion) in deposits and INR 10,500 crore (Euro ~1.0 billion) of assets under management and serves around 150,000 customers through a team of about 1,000 employees.

Commenting on the acquisition, Ashok Vaswani, Managing Director and CEO, Kotak Mahindra Bank, said, “This transaction aligns well with our focus on the affluent and SME segments. It is a strong strategic fit and makes sound commercial sense. It also brings a high-quality customer franchise and experienced teams and adds incremental scale and adjacency opportunities. We look forward to warmly welcoming these customers and colleagues to the Kotak family and our priority will be on disciplined integration and ensuring continuity, while building further depth and capability in this business.”

Kaushik Shaparia, CEO, Deutsche Bank Group India and Emerging Asia, said, “This transaction marks an important step in sharpening Deutsche Bank’s portfolio and focusing on areas where we have scale, strength, and the ability to deliver sustained returns. India’s growing integration into the global economy reinforces its position as a core market for Deutsche Bank. As the leading European bank in the country, we are closely aligned with India’s economic priorities, underpinned by our strong Corporate Bank and Investment Bank and the continued growth of our businesses, including DWS. We believe Kotak Mahindra Bank provides a strong domestic platform to ensure long-term continuity for our onshore private banking and wealth clients, while creating meaningful growth opportunities for our employees.”

The acquisition reflects Kotak’s inorganic growth strategy of pursuing targeted opportunities that strengthen its core franchise. Kotak’s established presence in these segments, alongside a relationship-led approach and its broader suite of banking and investment solutions position it well to provide Deutsche Bank’s customers with a seamless and integrated experience post transition. For Deutsche Bank, this step aligns with the group's Global Hausbank strategy of simplifying the business and focusing on competitive strengths, including Private Bank’s continued focus on global ultra-high net worth clients (including non-resident Indians) outside of India.

Both banks will work closely to ensure continuity of service for customers throughout the transition and post-closing. Approximately 1,000 Deutsche Bank employees in India are expected to join Kotak as part of this transaction, underscoring the importance both banks place on continuity for customers and long-term opportunities for employees.

Closing, including onboarding of customer relationships, employees and associated products, is expected by September 2027, subject to applicable regulatory approvals (including from the Competition Commission of India) and other customary conditions precedent.

At closing, the transaction is expected to be ROE[1] accretive for Kotak bank and CET1[2] accretive for Deutsche Bank.

Axis Mutual Fund Unveils ‘Axis Account Plus’, India’s First Digital Working Capital Solution for Corporates & MSMEs

• ‘Axis Account Plus’, an industry-first, end-to-end digital working capital management solution helping corporates and MSMEs optimise surplus funds efficiently
• Seamless digital journey with instant transactions, same day redemption, and a unified dashboard offering consolidated visibility across entities
• Available for corporates and MSMEs on the Axis Mutual Fund website

Axis Mutual Fund, one of India’s leading asset management companies, has announced the launch of ‘Axis Account Plus’, India’s first end-to-end digital working capital management solution designed for corporates and MSMEs. It enables businesses to seamlessly invest surplus funds in Axis Mutual Fund eligible debt and liquid schemes through a convenient, faster solution with robust controls and inbuilt governance protocols. As businesses become more strategic about managing operating surplus, investment access must become simpler, more efficient and aligned to dynamic liquidity needs.

The launch comes at a time when India’s mutual fund industry continues to expand its role in the country’s financial ecosystem. At the same time, a significant amount of corporate capital remains underutilised. Nearly ₹25 lakh crore is estimated to be held in current accounts, where it typically earns no returns. India also has a large base of over 31 lakh active corporates and limited liability partnerships, along with more than 8.6 crore MSMEs registered on the Government of India’s Udyam platform.

Despite this scale, participation by non-individual investors in mutual funds remains limited, with institutional folios accounting for approximately 13.6 lakh folios. This highlights the need to make mutual funds access simpler and more relevant for a wider set of investors, including corporates and MSMEs.

For many businesses, surplus funds are held between payment cycles, receivables, working capital requirements and planned expenses. Axis Account Plus addresses this need by enabling businesses to utilise idle funds through a fully digital working capital management solution.

For example, if a company with a balance sheet size of ₹100 crore had ₹10 crore as surplus working capital, it could have deployed this amount through Axis Account Plus solution into Axis Mutual Fund’s debt and liquid schemes for a one-month period. Based on historical performance of Axis liquid fund, this may have potentially generated approximately ₹5.25 lakh over the month ended May 31, 2026 (assuming a simple annualised return of around 5.85%)*. Compared to keeping these funds in a current account with no returns, Axis Account Plus would have enabled the company to potentially earn returns on its surplus funds. Such earnings could then have been utilised to offset routine business overheads or operational expenses, thereby improving overall capital efficiency.

*Past performance may or may not be sustained in future. Please refer annexure 2 on page 3 for performance of the scheme in SEBI prescribed format.

Key benefits and features of Axis Account Plus:

• Better Returns on Idle Funds: Helps invest idle funds and potentially improve working capital management, with no penalty on redemption, and flexibility to park funds from a day upto one year, along with an endeavour for same day credit of redemption proceeds for quick access to cash. 
• Seamless Digital Journey: Supports onboarding, KYC, folio creation and investment execution to be completed entirely online, reducing paperwork, process delays and offline dependencies. 
• Safety & Trust: Investments are regulated by SEBI and managed by Axis AMC, ensuring credibility and security. 
• Robust Controls: Enables businesses to manage transactions through a maker-checker workflow, supporting internal approval processes with inbuilt governance protocols. 
• Service Connects: Transactions updates are received on SMS and email to registered users, maker and checker. 
• Unified Visibility: Provides a one-view dashboard that allows consolidated tracking across investments, including the ability to add a company’s subsidiaries and view holdings at a group-company level. 
• Dedicated Support: Committed relationship manager, accessible via SMS, email and WhatsApp along with regular product updates and insights to help keep investments optimised

Speaking on the launch, B. Gopkumar, MD & CEO, Axis AMC said, “With more than 8.6 crore MSMEs registered on the Government of India’s Udyam platform and approximately ₹25 lakh crore that is estimated to be held in current accounts in Banks, typically earning minimal or no returns, we see this as a huge opportunity to tap in.

With Axis Account Plus, we aim to be the first AMCs to address this opportunity at scale, targeting at least 2–3% of India’s MSMEs and corporates. Our working capital management solution allows MSMEs to park idle business cash seamlessly and efficiently, potential to earn return. This solution enables business-grade workflows and maker-checker controls, with an aim to support the pace, governance and growth ambition of modern enterprises”

With Axis Account Plus, Axis Mutual Fund aims to redefine how businesses approach surplus cash management by bringing together digital convenience, operational control and transaction capabilities on a single. The reinforces Axis Mutual Fund’s focus on innovation and its commitment to enabling corporates and MSMEs to make more efficient financial decisions.

To know more and transact: https://transact.axismf.com/corporate-investments

ICICI Bank and Visa launch first USD-denominated debit card for NRI customers of GIFT City IBU

• Zero markup on USD transactions done on PoS and e-commerce with global acceptance
• Access to Visa Infinite privileges with advanced security controls

ICICI Bank, in partnership with Visa, announced the launch of India’s first USD-denominated debit card from its IFSC Banking Unit (IBU) at GIFT City, the emerging global financial and IT services hub in Gujarat. This milestone reinforces the Bank’s commitment to offer innovative global banking solutions for Non-Resident Indian (NRI) customers.

This first-of-its-kind debit card is linked to ICICI Bank’s USD Global Savings Account offered through the Bank’s IBU. Built on Visa’s premium Infinite platform, the card enables seamless global transactions and provides liquidity by allowing NRIs to access their USD savings in the bank account for usage worldwide at ATMs, PoS and e-commerce platforms. The launch marks a significant step in expanding secure, seamless, and premium offshore payment solutions for NRIs.

Speaking on the launch, Mr. Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank said: “ICICI Bank has consistently focused on creating innovative banking solutions that caters to the evolving global financial needs of NRIs. As global mobility increases, NRIs often face currency conversion costs and fragmented international banking experiences. This USD‑denominated debit card represents an important step in providing customers with seamless access to their USD savings. Our collaboration with Visa enables us to combine global acceptance with premium security and service standards, while further strengthening GIFT City’s position as a leading international financial hub.”

Mr. Rishi Chhabra, Country Manager for India at Visa, added: “Visa is proud to partner with ICICI Bank to launch the first USD‑denominated debit card issued from GIFT City’s IFSC, built on our premium Visa Infinite platform. As cross‑border financial needs continue to grow, this solution enables Non‑Resident Indians to access and spend their US Dollar savings globally with greater convenience, transparency, and control. By leveraging ICICI Bank’s wide reach and Visa’s global network, we are supporting India’s vision of building world‑class financial infrastructure and expanding globally connected payment experiences from GIFT City.”

Key benefits of the debit card:

• Global usage:
• Zero markup on USD transactions at PoS and e-commerce worldwide. 
• Acceptable across domestic and international ATMs, PoS terminals and e-commerce platforms. 
• Multi-currency usability for seamless purchases across the globe. 
• Security and control:
• EMV chip-enabled technology compliant with regulatory standards. 
• Ability to enable/disable ATM, PoS, e-commerce and contactless usage through GIFT City Net Banking. 
• Option to set daily transaction limits for enhanced flexibility. 
• Exclusive privileges: Access to Visa Infinite privileges including exclusive offers from participating global brands and curated travel and lifestyle benefits

New and existing USD Global Savings Account holders with ICICI Bank are eligible for this debit card.

To know more about the card, please visit https://www.giftcity.icici.bank.in/faqs?ITM=nli_nriBanking_na_footer_2_CMS_customerServices_faqs_NLI

ICICI Bank’s IFSC International Banking Unit (IBU) at GIFT City offers various products for NRI customers including Global Savings Accounts in multiple currencies, fixed deposits, loan against deposits (LAD) and investments.

For more information on ICICI Bank’s offerings at GIFT City, please visit www.giftcity.icici.bank.in or contact your Relationship Manager.

From Call Centers to Chatbots: How AI Is Reshaping Indian Banks

Indian banks are increasingly deploying conversational AI to enhance customer service, with Bank of Baroda’s newly launched bob SAMVAD standing out as the first multilingual AI-powered platform enabling real-time communication in 22 Indian languages. This marks a major step toward inclusive, accessible, and efficient banking for customers across India.

Key Conversational AI Initiatives by Banks in India

Bank of Baroda – bob SAMVAD

• Launched March 2026. 
• AI-powered multilingual conversational platform
• Supports 22 Indian languages for real-time communication
• Eliminates language barriers between customers and branch staff
• Enhances in-branch customer interactions and accessibility

Private Banks (HDFC, ICICI, Axis)

• Widely use AI chatbots on mobile apps and websites. 
• Services include balance inquiries, fund transfers, loan applications
• Personalized product recommendations and fraud detection alerts. 
• Lead AI adoption due to larger asset size and stronger digital infrastructure

State Bank of India (SBI) – SIA Chatbot

SIA (SBI Intelligent Assistant) is an AI-powered conversational chatbot developed for the State Bank of India to handle customer queries 24/7. 

• AI-powered chatbot available on SBI’s website and mobile app
• Handles FAQs, product details, and transaction support
• Focus on scalability to serve millions of customers simultaneously

Kotak Mahindra Bank – Keya

• AI-based voicebot integrated into mobile banking
• Provides voice-driven banking services like fund transfers and account queries
• Designed for hands-free, conversational banking

Comparison Table: Conversational AI in Indian Banks

Bank	Platform/Service	Key Features	Languages Supported	Focus Area
Bank of Baroda	bob SAMVAD	Multilingual AI, real-time translation	22 Indian languages	In-branch customer service
SBI	SIA Chatbot	FAQ handling, product info, transactions	English, Hindi	Web & mobile queries
Kotak Mahindra	Keya Voicebot	Voice-driven banking	English, Hindi	Mobile app
HDFC/ICICI/Axis	AI Chatbots	Account services, fraud alerts, personalization	Primarily English, Hindi	Digital banking

Challenges & Risks

• Language accuracy: AI translation must handle dialects and regional variations
• Data privacy: Conversational AI involves sensitive financial data; robust encryption is essential
• Customer adoption: Older customers may prefer traditional banking methods
• Operational costs: Developing and maintaining AI platforms requires significant investment

Benefits of AI Chatbots for Banks in India

Operational Efficiency

• RBI Bulletin (2024): AI adoption driven by asset size and capital adequacy
• Chatbots streamline customer service and reduce manual workload
• Automates up to 70% of routine banking queries

Customer Experience

• Improves response times by up to 95%
• Multilingual support bridges linguistic divides (e.g., bob SAMVAD with 22 languages)
• 60% of Indian customers prefer WhatsApp-first support

Cost Reduction

• Reduces dependency on call centers and branch staff
• Scales customer support without proportional manpower increases
• HDFC’s EVA processes 5 million queries per month

Risk Management & Compliance

• Integrates with fraud detection systems
• Ensures compliance with RBI regulations
• Provides consistent, auditable customer interactions

Comparative Impact

Benefit Area	Impact for Banks	Example
Efficiency	Automates 70% of queries	HDFC EVA, ICICI iPal
Customer Experience	95% faster response times, multilingual support	Bank of Baroda bob SAMVAD
Cost Savings	Reduced call center load	SBI SIA, YONO Bot
Risk Management	Fraud detection integration	AI adoption across private banks

Challenges & Limitations

• Dialect accuracy: India’s linguistic diversity complicates chatbot translation
• Data privacy: Requires strong encryption and compliance with RBI norms
• Customer trust: Some users prefer human interaction for high-value transactions
• Investment costs: Smaller banks may struggle with AI deployment expenses

Conversational AI chatbots benefit Indian banks significantly by cutting costs, improving efficiency, and enhancing customer satisfaction. Private banks lead adoption, while Bank of Baroda’s bob SAMVAD sets a benchmark for inclusivity. Conversational AI is becoming a strategic necessity for competitiveness in India’s digital-first financial ecosystem.

Major Conversational AI Deployments in Indian Banking

Bank of Baroda – bob SAMVAD

• Launched March 2026
• First multilingual AI-powered platform in Indian banking
• Real-time two-way communication in 22 Indian languages
• AI-driven translation between customers and branch staff
• Enhances inclusivity and accessibility across India

State Bank of India (SBI)

• SIA (SBI Intelligent Assistant): Chatbot for FAQs, product details, and transactions
• YONO Chatbot: Integrated into SBI’s flagship app for account queries, transfers, and bill payments
• Scales to serve millions of customers simultaneously

HDFC Bank – EVA

• Developed with Senseforth AI
• Handles over 5 million queries per month
• Provides instant answers on products, services, and transactions
• Reduces call center load significantly

ICICI Bank – iPal

• AI chatbot on website and mobile banking
• Offers account balance checks, transaction history, loan queries
• Strong integration with ICICI’s digital ecosystem

Kotak Mahindra Bank – Keya

• Voicebot integrated into mobile banking
• Enables voice-driven transactions like fund transfers and account queries
• Focused on hands-free, conversational banking

Axis Bank – Axis AHA!

• AI chatbot on mobile app and website
• Provides personalized recommendations, account services, and transaction support
• Enhances digital engagement and cross-selling

Comparative Snapshot

Bank	Platform	Mode	Languages	Key Use Cases
Bank of Baroda	bob SAMVAD	Text + Voice	22 Indian languages	In-branch multilingual support
SBI	SIA, YONO Bot	Text	English, Hindi	FAQs, transactions, digital banking
HDFC Bank	EVA	Text	English, Hindi	High-volume query handling
ICICI Bank	iPal	Text	English, Hindi	Account services, loan queries
Kotak Mahindra	Keya	Voice	English, Hindi	Voice-driven mobile banking
Axis Bank	AHA!	Text	English, Hindi	Personalized digital engagement

Trends & Insights

• Multilingual AI: Bank of Baroda’s bob SAMVAD sets a benchmark
• Voice-driven banking: Kotak’s Keya shows shift to hands-free banking
• High-volume automation: HDFC’s EVA reduces reliance on human agents
• Cross-selling & personalization: Axis and ICICI leverage AI for recommendations
• Financial inclusion: Conversational AI helps reach rural and semi-urban customers

Challenges

• Dialect handling: India’s linguistic diversity complicates translation
• Data security: Compliance with RBI norms is essential
• Customer trust: Some prefer human interaction for high-value transactions
• Integration costs: Smaller banks may struggle with investment

Outlook

Conversational AI in Indian banking is moving beyond simple chatbots to multilingual, voice-enabled, and real-time platforms. With bob SAMVAD, India is setting a benchmark for inclusive banking, and other banks are expected to follow suit with similar innovations.

Govt Pushes Faster Debt Case Clearances with Digital Boost

The Department of Financial Services (DFS) convened a major colloquium at Vigyan Bhavan, New Delhi, bringing together Debt Recovery Appellate Tribunal (DRAT) Chairpersons and Debt Recovery Tribunal (DRT) Presiding Officers. The focus was on cutting case backlogs, speeding up debt recovery, and strengthening tribunals through digitisation and training.

For an uninitiated, a government colloquium (like the DFS event ) is where tribunal officials and bankers discuss reducing case backlogs.

The Secretary, DFS underscored the Department’s strategic thrust on deepening digitisation to streamline tribunal processes.

Key Highlights of the Colloquium

• Date & Venue: May 2, 2026, Vigyan Bhavan, New Delhi
• Participants: DFS Secretary, senior officials, bank representatives, Indian Banks’ Association
• Objective: Reduce pendency of debt recovery cases and accelerate disposal rates

Major Announcements

• Digitisation Drive: Mandatory e-filing, hybrid hearings, rollout of e‑DRT 2.0
• Capacity Building: Training programmes for officers and staff, adoption of best practices
• Case Prioritisation: Focus on high-value cases, use of Lok Adalats and mediation
• Bank Oversight: Stronger monitoring mechanisms for better recovery outcomes. 

e‑DRT 2.0 is the upgraded digital platform for India’s Debt Recovery Tribunals (DRTs), designed to make loan recovery cases faster, more transparent, and less dependent on physical paperwork. It introduces mandatory e‑filing, hybrid hearings, and improved case management tools.  

Technology & Innovation

• BAANKNET e‑Auction Platform: Centralised system for distressed asset auctions, improving visibility and value realisation

BAANKNET is India’s official e‑auction platform created for banks to sell properties linked to Non‑Performing Assets (NPAs). It centralises auctions across public sector banks, making the process transparent, accessible, and efficient for buyers and lenders.  

Impact on the Public

• Faster debt case disposal for citizens and businesses
• Transparency and accessibility through digital tools
• Reduced backlogs with adoption of best practices

Conclusion

DFS is driving reforms to modernise India’s debt recovery system. With digitisation, training, and alternative dispute resolution, tribunals are set to become more robust, transparent, and efficient.

AU Small Finance Bank Expands Gold Loan Services Across 501 Branches to Strengthen Secured Lending in India

AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first in over a decade to receive in-principle approval to transition into a Universal Bank, today announced the successful activation of 501 existing branches for Gold Loan product.” The initiative marks a significant step in strengthening AU SFB’s institution-led secured lending footprint, bringing faster, transparent and reliable gold loan services closer to customers across the country.

The addition of new set of branches is strategically located in regions with high household gold ownership and sustained demand for short-tenure, collateral-backed credit, reflecting the enduring role of gold as a trusted financial asset in India.

Each Gold Loan branch is purpose-built to deliver a seamless customer experience, supported by trained appraisers, standardised processes, and robust risk and compliance systems. This enables customers to access timely liquidity against their gold with confidence, transparency and peace of mind.

From a strategic perspective, the rollout underscores AU SFB’s ability to execute at scale, align branch-led distribution with strong backend capabilities, and design solutions that respond to real customer needs - particularly in semi-urban and rural markets across Tier 2 and Tier 3 cities. By covering 488 pin codes nationwide, the initiative significantly broadens access to gold loans, making financing more accessible for customers across India.

Commenting on the development, Uttam Tibrewal, Deputy CEO, AU Small Finance Bank, said, “Gold has long been a trusted household asset in India, often serving as a financial anchor during moments of need. Through the activation of 501 branches for Gold Loan, our objective is to help customers responsibly unlock the value of this asset through a process that is fast, transparent and dependable. This initiative reflects AU SFB’s long-term commitment to building a strong, scalable and customer-first secured lending franchise across markets.”

Gold loans continue to play a critical role in meeting customers’ short-term liquidity needs, supporting uses ranging from business expansion and agricultural requirements to working capital and personal contingencies, while offering banks a highly secure and stable asset class. For AU SFB, this expansion further strengthens portfolio resilience and supports sustainable, diversified growth.

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 journey in April 2017. Founded in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU enters its 31st year of operations with a legacy of deep-rooted “Dharma” of customer centric service having built, over three decades including more than eight years as a bank, a sustainable and inclusive financial institution that empowers underserved and under-reached communities through a robust retail banking model. AU has received an in-principle approval from RBI to transition to a Universal Bank.

With deep customer insight across India, AU provides comprehensive banking solutions across deposits, loans, credit cards, premium banking, remittance services, merchant solutions, insurance, and investments. As a tech-led bank, AU offers differentiated digital experiences through innovations like 24x7 video banking, WhatsApp Banking, Chatbots, UPI QRs, merchant lending, and its award-winning AU 0101 app.

AU SFB’s wide network of over 2,726 banking touchpoints across 21 States and 4 Union Territories enables service to more than 1.25 crore customers, powered by a workforce of 59,800+ employees. As on 31st Dec’25, Bank has a Shareholders Funds of ₹19,085 Cr, Deposit base of ₹1,38,415 Cr, Total Loan Portfolio of ₹1,29,898 Cr and a Balance sheet size of ₹1.74 Lac Cr+.

Bank of Baroda Launches bob SAMVAD: AI-Powered Multilingual Platform to Transform Branch Customer Experience

Bank of Baroda has unveiled bob SAMVAD, an industry-first AI-powered multilingual conversational platform designed to revolutionize customer interactions at its branches. The platform was formally launched in Mumbai by Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance.

bob SAMVAD aims to eliminate language barriers by enabling seamless, real-time communication between customers and branch staff in their preferred languages. Developed entirely in-house, the platform leverages advanced AI-driven speech and language technologies to support two-way conversations across 22 languages with contextual accuracy and natural fluency. Customers can input queries in their chosen language, which are instantly translated for staff, and vice versa, ensuring smooth service delivery. The system also offers both text and voice modes, making it fully accessible.

Congratulating the Bank, Shri Nagaraju commended the initiative as a benchmark for inclusive and accessible service delivery in the sector. “bob SAMVAD will promote more inclusive and accessible service delivery and help improve customer service at branches,” he said. He also lauded Bank of Baroda’s innovative use of technology to bridge linguistic divides in banking.

Dr. Debadatta Chand, Managing Director & CEO of Bank of Baroda, emphasized the customer-centric design of the platform: “With bob SAMVAD, Bank of Baroda is leveraging AI to make our branches more inclusive and customer-friendly by enabling seamless real-time conversations in local languages. This initiative reflects our commitment to operational excellence by combining technology with customer-centric design.”

In its first phase, bob SAMVAD will be rolled out across 250 branches in Tamil Nadu, Karnataka, Telangana, Andhra Pradesh, and Maharashtra, followed by a phased expansion across the Bank’s nationwide network.

Alongside the launch, Shri Nagaraju also visited bob Forest, a 6,000 sq. ft. green oasis at the Bank’s BKC office in Mumbai. The initiative, part of the Bank’s broader ESG commitments, complements earlier sustainability projects such as bob Earth, Green Deposits, and Green Bonds. bob Forest promotes biodiversity and cleaner air, reinforcing the Bank’s dedication to environmental stewardship.

With bob SAMVAD and bob Forest, Bank of Baroda is setting new benchmarks in both technological innovation and sustainability, strengthening its position as a forward-looking institution committed to customer experience and responsible growth.

Kotak Mahindra Seals ₹4,500 Cr ($477 Mn) Deal for Deutsche’s India Retail Arm

Kotak Mahindra Bank is set to acquire Deutsche Bank’s India retail business in a deal valued at about ₹4,500 crore (USD 477 million approx.), reported The Economic Times (ET), through its ET BFSI section, on March 23, 2026 at 08:17 AM IST.  This marks a major expansion of Kotak’s retail lending and deposit base. Deutsche Bank’s exit reflects its global strategy to streamline operations.

Key Details of the Deal

• Buyer: Kotak Mahindra Bank
• Seller: Deutsche Bank (India retail operations)
• Deal Value: ~₹4,500 crore (≈ 45 billion rupees)
• Date Reported: March 23, 2026
• Status: Kotak has emerged as the preferred buyer, edging out Federal Bank.

Strategic Impact

• Kotak Mahindra Bank: Strengthens retail lending capabilities, expands deposit base, positions itself against HDFC, ICICI, Axis.
• Deutsche Bank: Strategic retreat from India retail, focusing on global restructuring and corporate clients.

Competitive Context

Bank	Recent Moves in Retail Banking	Strategic Focus
Kotak Mahindra	Acquiring Deutsche’s retail unit	Expanding retail lending & deposits
Federal Bank	Contender for Deutsche’s unit (lost bid)	Growing retail & SME base
HDFC Bank	Organic expansion, digital retail push	Dominant retail market leader
ICICI Bank	Strong retail lending growth	Balancing retail & corporate
Deutsche Bank	Exiting India retail	Global restructuring

Risks & Considerations

• Integration challenges with systems and regulatory approvals.
• Customer transition requires smooth migration to Kotak platforms.
• RBI oversight critical for deal closure.
• Competition in India’s crowded retail banking space.

What This Means for Customers

• Deutsche Bank India retail customers will see accounts, loans, and deposits transferred to Kotak Mahindra Bank.
• Kotak customers can expect enhanced retail offerings, especially in urban wealth management and consumer lending.
• Industry watchers view this as consolidation, signaling global banks scaling back retail in India while domestic banks expand aggressively.