Last year, PSU Banks saw a significant 17% increase in spending compared to previous years. Their average spending per card reached ₹16,847. In contrast, private banks reported a 4% decrease in average spending, dropping to ₹18,948.

Currently, HDFC Bank holds a commanding 22.2% market share among credit cards. SBI Cards follows with an 18.7% share. These figures highlight the competitive landscape within the banking sector.

The overall credit card base has grown by 8%, reaching the current total of 119 million active cards. This growth reflects increasing consumer confidence and spending power.

Private banks still dominate the market with nearly 80% of active cards. However, PSU Banks are implementing strategies to attract new customers and enhance their offerings.

The shift towards PSU Banks indicates changing consumer preferences and highlights their growing influence in the credit card segment. With their focus on increasing customer engagement, they are likely to continue expanding their market share.

The trend suggests that consumers may lean more towards PSU Banks for credit options as they enhance services and benefits associated with their credit cards.

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In recent months, the Indian banking sector has faced unprecedented challenges, prompting banks to raise interest rates to levels not seen in the last two years. This shift comes as a response to a liquidity shortage and a significant credit-deposit imbalance that has emerged in the financial landscape.

As of February 2026, credit growth was recorded at 13.7%, while deposit growth lagged at 10.9%. This disparity has led to a loan-to-deposit ratio that has surged to 82.5%, indicating that banks are increasingly reliant on borrowing to meet their lending demands.

The decisive moment came when banks began raising funds through Certificates of Deposit (CDs). For instance, CSB Bank now offers an interest rate of 8.32% for 91-day CDs, while Ujjivan Small Finance Bank and Equitas Small Finance Bank have set their rates at 8.25%. In contrast, HDFC Bank and IDBI Bank are offering lower rates of 7.6% for short-term funds.

This rise in interest rates has also been marked by a significant increase in the difference between three-month CD rates and Treasury Bill rates, which has reached 210 basis points, the highest since March 2020. Investments in CDs have skyrocketed to ₹6.64 lakh crore, reflecting a remarkable growth of 75% over the last two years.

However, this surge in interest rates is not without its consequences. Fitch Ratings has warned that if funding costs continue to rise, net interest margins (NIMs) could decrease by 20-30 basis points by FY27. The liquidity crunch is expected to persist until FY27, raising concerns among financial experts.

Experts note that the current increase in interest rates has surpassed seasonal changes, indicating a deeper issue within the banking sector. The ongoing liquidity crunch poses a significant risk to the stability of banks and their ability to lend effectively.

As the situation evolves, stakeholders in the banking sector must navigate these turbulent waters carefully. The implications of these changes will be felt across the economy, affecting borrowers and depositors alike.

Details remain unconfirmed regarding the long-term strategies banks will adopt to address these challenges, but the urgency of the situation cannot be overstated.

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The Reserve Bank of India (RBI) has introduced a Benchmark Issuance Strategy (BIS) for market borrowings, a move that is set to reshape fiscal management for nine states. Previously, state governments relied on a less structured approach to their borrowings, which often led to inconsistencies and unpredictability in the market.

As of April 1, 2026, the RBI’s BIS will allow these states—Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh—to issue securities in specific benchmark tenor buckets according to a pre-announced calendar. This decisive shift is expected to streamline the borrowing process and enhance market stability.

The total market borrowings by State Governments and Union Territories for the April-June 2026 period are projected to reach ₹2,54,509 crore, a decrease from last year’s first quarter figure of ₹2,73,255 crore. The nine states adopting the BIS will collectively borrow ₹1,53,900 crore during this timeframe, indicating a more cautious approach to fiscal management.

In a related development, the RBI has approved Emirates National Bank of Dubai (Emirates NBD) to acquire up to a 74% stake in RBL Bank, a significant foreign investment in the Indian banking sector. This approval, granted on April 1, 2026, is valid for one year and allows Emirates NBD to pursue a majority 60% stake for ₹26,853 crore.

However, the RBI has capped Emirates NBD’s voting rights at 26% of the total voting rights in RBL Bank, ensuring that control remains with domestic stakeholders. This move comes as the RBI seeks to strengthen the domestic forex market by restricting non-deliverable derivatives (NDDs), which are offshore derivative contracts settled in cash without actual currency exchange.

RBI officials have emphasized the importance of the BIS, stating, “As their cash and debt manager, Reserve Bank has been sensitizing States about adoption of BIS for their market borrowings.” This strategy aims to mitigate risks associated with speculative trading and enhance the overall stability of the financial system.

Experts note that these changes could significantly influence market expectations and exert pressure on the rupee through speculative positions. The RBI’s proactive measures reflect a broader commitment to ensuring fiscal discipline and stability in the face of evolving economic challenges.

Details remain unconfirmed regarding the long-term implications of these strategies, but the immediate effects are already being felt across the financial landscape.

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Previously, Yes Bank faced challenges in maintaining its credibility with regulators, investors, and customers amid evolving regulatory scrutiny and macroeconomic uncertainties. The bank’s risk management frameworks were under pressure as it navigated digital expansion and the complexities of the financial landscape.

However, a decisive moment has arrived with the appointment of S. Anantharaman as the new Chief Risk Officer (CRO) of Yes Bank. Anantharaman, who joins from Jio Financial Services, brings over three decades of experience in banking and financial services. His extensive background includes senior roles at Bank of Baroda, HDFC Bank, and L&T Finance Holdings.

In his new role, Anantharaman will oversee critical areas such as credit policy, operational and enterprise risk, market risk, information security, model governance, data analytics, and data privacy. This strategic appointment signals a shift in the banking industry towards prioritizing risk management as a key lever for growth.

Yes Bank, which operates over 1300 branches across 300 districts in India, is focused on strengthening its risk leadership. Anantharaman’s experience in building risk management architecture across diverse businesses will be pivotal as the bank recalibrates its risk frameworks.

The appointment is part of Yes Bank’s broader strategy to enhance its risk governance framework and adapt to the changing financial environment. Experts suggest that this move reflects a growing recognition of the importance of robust risk management in ensuring long-term stability.

As the bank looks ahead, the coming months are expected to see a sharper push towards integrated risk frameworks and greater use of data analytics in credit decision-making. This shift is crucial for maintaining the trust of stakeholders in a rapidly evolving market.

Overall, Anantharaman’s appointment is a significant step for Yes Bank as it seeks to navigate the complexities of the current banking landscape and strengthen its position in the industry.

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On April 2, 2026, banks are open nationwide in India to celebrate Hanuman Jayanti, a significant festival. However, in Kerala, banks will remain closed due to Maundy Thursday, highlighting the regional variations in bank operations during this period.

The following day, April 3, 2026, will see banks across India closed in observance of Good Friday, a public holiday recognized in many parts of the country. This closure underscores the impact of religious observances on banking services.

Despite these holidays, ATMs, online banking, and mobile banking services will continue to operate without interruption, ensuring that customers can access their funds and conduct transactions even when physical branches are closed.

It is important to note that bank holidays can vary significantly by state in India. While banks in Kerala will be closed on April 2, selected regions such as Tripura, Chandigarh, Assam, Rajasthan, and Jammu & Kashmir will have banks open on April 3.

The month of April is marked by several important festivals and occasions, leading to a complex landscape of bank holidays across different states. This situation often requires customers to plan ahead for their banking needs.

Digital banking services are expected to function smoothly during these holidays, providing a reliable alternative for customers who need to manage their finances. This trend towards digital banking has been growing, especially in light of recent advancements in technology.

As the banking landscape continues to evolve, customers are encouraged to stay informed about their local bank’s operating hours, particularly during holiday seasons.

Details remain unconfirmed regarding any additional changes to banking operations in the coming weeks, as the situation may continue to develop based on regional observances and public holidays.

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Atanu Chakraborty has resigned as chairman of HDFC Bank, leading to an 8.7% drop in the bank’s stock and erasing $16.3 billion in market value over three trading sessions. His resignation has sent shockwaves through the financial sector, raising questions about the bank’s internal practices.

In his resignation letter, Chakraborty cited a “mismatch between my values and the bank’s,” though he did not provide specifics regarding the internal practices he found conflicting. This lack of detail has left many analysts and investors speculating about the underlying issues at the bank.

The Securities and Exchange Board of India (SEBI) is currently reviewing Chakraborty’s resignation letter for potential rule violations, as well as examining the fiduciary duties of the bank’s directors in light of the concerns raised. This scrutiny comes at a time when HDFC Bank is already one of the three banks labeled as ‘systemically important’ in India.

Following Chakraborty’s departure, HDFC Bank has engaged external legal firms to conduct an independent review of the issues he raised. This move aims to restore investor confidence and clarify the bank’s governance practices.

The immediate impact of Chakraborty’s resignation has been felt in the stock market, with the bank’s shares plummeting significantly. Investors are keenly watching how the bank will navigate this turbulent period and what measures will be taken to address the concerns raised by its former chairman.

As the situation unfolds, observers are left to ponder the implications of this high-profile resignation on HDFC Bank’s future and the broader banking sector in India. Details remain unconfirmed regarding the specific practices that led to Chakraborty’s decision.

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In a significant development, Atanu Chakraborty has resigned as Part-time Chairman and Independent Director of HDFC Bank on March 18, 2026. His resignation has raised immediate concerns regarding the bank’s internal practices and governance standards.

Chakraborty cited in his resignation letter that “certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence with my personal values and ethics.” The bank confirmed that there were no other material reasons for his resignation beyond those stated in his letter.

Following his departure, Keki Mistry has been appointed as interim Part-time Chairman for a period of three months starting March 19, 2026. This transition comes at a crucial time for HDFC Bank, which has recently undergone a significant merger with HDFC Ltd., creating the second-largest bank in India.

Chakraborty joined the Board of HDFC Bank in May 2021 and played a pivotal role during the merger, which he described as a momentous development. He noted that while the merger has positioned HDFC Bank as a major player in the financial sector, “the benefits of the merger are yet to fully fructify.”

His resignation has sparked discussions about the bank’s governance, with analysts questioning the internal practices that led to his decision. The Reserve Bank of India has approved Mistry’s appointment, indicating regulatory support during this transition.

Investors and analysts are now closely monitoring the situation, awaiting further clarity from HDFC Bank or regulators regarding the concerns raised in Chakraborty’s resignation. The nature of his remarks has indeed raised eyebrows and calls for a deeper examination of the bank’s governance standards.

Details remain unconfirmed regarding the specific practices that prompted Chakraborty’s resignation, but the implications for HDFC Bank’s reputation and operational integrity are significant.

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Axis Bank announced changes to the Airtel Axis Bank Credit Card, altering cashback mechanics and removing airport lounge access. These changes will take effect on April 12, 2026, and are expected to impact cardholders significantly.

The card previously offered a robust 25% cashback on Airtel payments, capped at INR 250 per month. Additionally, cardholders enjoyed 10% cashback on utility payments made via the Airtel Thanks app, also capped at INR 250 per month. Cashback on popular platforms like Swiggy, Zomato, and BigBasket was previously set at 10%, alongside a general 1% cashback on other spends.

Removal of Lounge Access

Another significant change includes the removal of 4 complimentary domestic lounge visits per year, a benefit that many users valued. This alteration is part of a broader shift in the card’s offerings, which now dilute the simplicity that made the card popular among consumers.

Under the new structure, cashback caps will now depend on the amount of base cashback earned in the same statement cycle. The previous cashback on Swiggy, Zomato, and BigBasket has been replaced with a 10% value back on Zomato, Blinkit, and District Movies. However, the maximum value back is limited to INR 200 per partner per month, with a minimum order value of INR 499 required for Zomato and Blinkit.

The Airtel Axis Bank Credit Card was previously one of the strongest cashback cards in the sub-INR 1,000 annual fee category, making it a popular choice for many consumers. The recent changes, however, may lead to dissatisfaction among existing cardholders who appreciated the previous benefits.

As the April 2026 implementation date approaches, observers are keenly watching how these changes will affect customer retention and satisfaction. Details remain unconfirmed regarding any potential responses from cardholders or adjustments from Axis Bank to address customer concerns.

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ICICI Bank has seen its shares advance more than 2%, making it one of the top gainers in the banking index. This surge comes as the Bank Nifty rises nearly 1.5%, reflecting a broader rebound in banking stocks following a steep decline the previous day.

On the trading floor, ICICI Bank opened at ₹1,287.6, reached an intraday high of ₹1,299.5, and ultimately closed at ₹1,292.4. The bank recorded a total traded volume of 34,74,731 shares, with a traded value of ₹44,968.93 lakhs.

In terms of performance, ICICI Bank’s one-day return was noted at 0.99%, aligning with the overall performance of the private sector banking sector. As of now, the bank’s market capitalisation stands at ₹9,14,318 crores.

The rebound in banking stocks is significant, especially considering that the Bank Nifty had plunged more than 3% on the previous trading day, opening with a gap-down of nearly 1,650 points. This volatility highlights the dynamic nature of the banking sector in response to market conditions.

The market breadth during this period showed 2,817 advancing stocks against 733 declining stocks, indicating a positive sentiment among investors in the banking sector.

As ICICI Bank continues to navigate these fluctuations, the focus will be on how it maintains its momentum in the coming days. Investors and analysts alike will be watching closely to see if this upward trend can be sustained.

Details remain unconfirmed regarding the long-term implications of this rebound, but the immediate outlook appears optimistic for ICICI Bank and its stakeholders.

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The application window for the RBI Assistant recruitment closes today, March 8, 2026. Candidates are urged to finalize their applications as the timeline is tight, with preliminary examinations scheduled for April 11, 2026, and main examinations on June 7, 2026.

How many positions are available and what are the eligibility requirements?

A total of 650 Assistant posts are available across various RBI offices in India. To be eligible, candidates must have a Bachelor’s degree with at least 50% marks from a recognized university. Additionally, applicants must be between 20 and 28 years old as of February 1, 2026, and must demonstrate proficiency in the local language of the state or region they are applying for.

What does the selection process entail?

The selection process for the RBI Assistant position includes three stages: a Preliminary Examination, a Main Examination, and a Language Proficiency Test (LPT). Candidates are advised to prepare thoroughly for each stage to enhance their chances of selection.

What are the important dates to remember?

The online application process commenced on February 16, 2026, and will close today. Candidates must ensure that they submit their forms and fees before the portal closes, as late entries will not be accepted.

What is the significance of this recruitment?

The RBI Assistant recruitment aims to fill positions that will enhance the supervision and operational capacity within the central bank. This recruitment is crucial for maintaining the efficiency and effectiveness of the RBI’s functions in the financial sector.

What comes next for candidates?

After the application deadline, candidates will need to focus on preparing for the upcoming preliminary examination. The results of this examination will determine who progresses to the main examination stage.

Details remain unconfirmed regarding any changes to the examination schedule or additional requirements that may arise as the recruitment process unfolds.

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