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Emirates NBD wins federal approval for 74% majority takeover of RBL Bank

India's Ministry of Finance has cleared a proposal by Emirates NBD Bank to acquire up to a 74% stake in private lender RBL Bank. The transaction, previously valued at 268,530 million INR for a 60% controlling interest, will restructure RBL Bank into a foreign-owned subsidiary operating within India.

India;United Arab Emirates | 2 weeks ago

Mergers & Acquisitions

Federal Bank to acquire Standard Chartered credit card assets to double urban market presence

Federal Bank has finalized an agreement to purchase a premium credit card portfolio from Standard Chartered Bank, encompassing approximately 450,000 customers. The transaction focuses on high-spending urban segments, aiming to increase Federal Bank's non-co-branded receivables by nearly 90 percent while enabling Standard Chartered to sharpen its focus on wealth management.

2 weeks ago • India

Mergers & Acquisitions

Tech Mahindra accelerates BFSI expansion with 21 million USD acquisition of Avant Techno Solutions

Tech Mahindra has entered a definitive agreement to acquire an initial 85% stake in the Canadian payments technology firm Avant Techno Solutions. The deal, valued at $21 million (CAD 28 million), targets the growing demand for real-time payments and wealth management modernization among North American financial institutions.

2 weeks ago • Canada;India

Mergers & Acquisitions

MCBI shareholders approve merger with Home Bancshares ahead of anticipated Q2 2026 closing

Shareholders of Mountain Commerce Bancorp have approved a proposed merger with Home Bancshares, moving the regional banking deal closer to completion. The transaction, subject to remaining conditions, is expected to close in early Q2 2026 and reflects ongoing consolidation trends in the US community banking sector.

2 weeks ago • United States

Banking

China allocates $44 billion capital infusion to state banks to strengthen financial stability and support technology sector

China plans to inject 300 billion yuan ($44 billion) into major state-owned banks in 2026 as part of broader efforts to reduce financial system risks and expand funding for technology development. The move signals Beijing’s intent to reinforce banking resilience while accelerating strategic industries amid growing geopolitical competition.

2 weeks ago • China

Banking

Faster EMI Relief: RBI’s new loan rule lets borrowers benefit quickly from rate cuts

The Reserve Bank of India (RBI) has implemented a new regulation effective October 1, allowing banks to revise EMIs faster when lending rates drop or borrowers’ credit scores improve.

2 weeks ago • India

Latest News

Defence | 2 days ago

Elbit Systems secures $350 million international main battle tank modernization contract

Israel-based defense electronics company Elbit Systems has clinched a $350 million international contract to upgrade main battle tanks over a four-year period, integrating advanced situational awareness, AI-driven targeting, and modern communication suites.

Business & Corporate | 2 days ago

UPS commits USD 50 million to industrial logistics and launches time-definite Mexico air freight

UPS is investing nearly $50 million in specialized automotive and industrial network enhancements. The expansion introduces time-definite heavy air freight services between the U.S. and Mexico, streamlining cross-border production cycles and integrating brokerage and warehousing into a single-carrier solution.

Energy & Power | 2 days ago

NLC India selects Ohmium and InSolare for 4 MW green hydrogen project in Tamil Nadu

Ohmium International and InSolare Energy have partnered to deploy a 4 MW green hydrogen facility for NLC India Limited. Utilizing advanced Proton Exchange Membrane technology, the plant in Neyveli aims to produce 700 metric tons of hydrogen annually for industrial and mobility applications.

Business & Corporate | 2 days ago

Rashmi Group commits INR 350 billion to expand industrial footprint in West Bengal

Diversified industrial major Rashmi Group has announced a massive 35,000 million INR investment to scale its steel, power, and mining operations in West Bengal. The plan includes adding 7 million tonnes of annual steel capacity and operationalizing newly acquired coal blocks across several districts.