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Former finance services secy Rajiv Kumar named HDFC Bank part-time chairman
Kumar (66), a seasoned public policy leader and financial sector reformer, is widely credited with playing a key role in revitalising India's banking and financial system during a period of significant stress between 2017 and 2020. During his tenure, he strengthened governance, risk management and regulatory oversight across banks by institutionalising specialised monitoring of large exposures and introducing technology-driven risk assessment systems.
Churn at private banks' finance function, 2 CFOs quit
A significant reshuffle is underway in the finance departments of major Indian banks. Axis Bank and Bandhan Bank have seen their Chief Financial Officers resign, sparking speculation about future leadership. This follows another high-profile departure from HDFC Bank. Industry insiders suggest a potential move for one CFO to HDFC Bank, while another might step into the Axis Bank role, creating an unusual churn ahead of financial results.
Canara Bank, Bank of Baroda, Indian Bank pay Rs 7,023 cr dividend to govt for FY26
Three public sector banks, Canara Bank, Bank of Baroda, and Indian Bank, collectively disbursed Rs 7,023 crore in dividends to the government for the 2025-26 fiscal year. Canara Bank contributed Rs 2,397 crore, BoB Rs 2,811 crore, and Indian Bank Rs 1,815.05 crore. These payouts underscore the banks' robust financial performance and their dedication to national development goals.
VMS TMT board clears AUSL merger with company
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies.
HDFC Bank Appoints Ex-Finance Secy Rajiv Kumar As Part-Time Chairman
Beyond a career in the banking and financial sector, Kumar has also served as the 25th Chief Election Commissioner of India.
Sumitomo Mitsui Financial Group director buys $352.5m in Jefferies stock - Investing.com India
Sumitomo Mitsui Financial Group director buys $352.5m in Jefferies stockInvesting.com India
HDFC Bank appoints former financial services secretary Rajiv Kumar as new Non-Executive Chairman
HDFC Bank has appointed former IAS officer and ex-Chief Election Commissioner Rajiv Kumar as its Part-time (Non-Executive) Chairman. The bank's board approved his appointment as an Additional (Independent) Director for four years, effective June 30, 2026. Kumar's three-year term as Chairman awaits RBI approval, with shareholder consent also needed for his director role. This move concludes the bank's extensive search for a permanent leader.
Hindustan Copper to seek Navratna status, eyes threefold ore output by 2029
Hindustan Copper is aiming for Navratna status, according to outgoing CMD Sanjiv Kumar Singh. The company plans to triple ore output by 2029 and has initiated steps to achieve the prestigious designation. Strong financial performance, including a near doubling of net profit and record revenue in FY26, underpins this ambition. Singh highlighted growing copper demand from renewable energy and EVs as a key growth driver.
How Binance built a financial super app in six months
Binance’s 2026 launch of TradFi perpetuals, tokenized stocks and pre-IPO contracts is reshaping global market access for emerging investors.
Bandhan Bank CFO Rajeev Mantri resigns, to leave in September
Bandhan Bank's Chief Financial Officer, Rajeev Mantri, has resigned, citing career growth as his reason for departure. Mantri, who also served as Executive President, submitted his resignation on June 29 and will officially leave on September 25. He expressed gratitude for the support received during his tenure, highlighting his contributions to the bank's strategic transformation. The bank has yet to name a successor for the key financial role.
Aurobindo Pharma among 9 mid-cap stocks to hit 52-week highs & rally up to 20% in a month
The Sensex fell 372 points on Monday, but nine BSE Midcap stocks touched fresh 52-week highs, signalling resilient investor confidence. Bank of Maharashtra, Thermax, Bharat Forge, Oracle Financial Services and Laurus Labs were among the key outperformers despite broader market weakness.
Axis Bank CFO Puneet Sharma resigns to pursue new opportunities
Axis Bank's Chief Financial Officer, Puneet Sharma, has resigned to pursue new professional opportunities. Sharma, who has been with the bank since March 2020, will step down on August 31. He previously held significant roles at Tata Capital and Citibank. The bank expressed gratitude for his contributions and wished him well for the future.