Bank of Baroda has agreed to pay $600 million to settle a years-long legal battle with the joint administrators of collapsed UAE healthcare company NMC Health. The settlement resolves all claims against the bank, but raises questions about its role in the collapse of NMC Health.
The Indian banking sector witnessed a significant uptick in loan growth during the first quarter of 2026, but the sector still grapples with a widening gap between credit and deposit growth. Lenders must focus on managing liability profiles and improving deposit growth to sustain long-term growth.
The Reserve Bank of India (RBI) has imposed a combined penalty of ₹66.7 lakh on Bank of Baroda and GIC Housing Finance for non-compliance with its fair practices code and KYC guidelines. The penalties are not intended to affect customer transactions.
The Reserve Bank of India (RBI) has imposed penalties on Bank of Baroda and GIC Housing Finance Ltd for non-compliance with KYC guidelines, highlighting the importance of robust risk management and regulatory compliance in the banking sector.
Indian markets continue their winning streak for a third consecutive day, but the government’s decision to allow Chinese manufacturers to bid on critical domestic power projects sends shockwaves through the power equipment stocks.
The Indian stock market has maintained firm gains through the first half of trade, with the Nifty 50 index trading near the 24,300–24,350 zone. Key IT stocks, including HCL Technologies and Tech Mahindra, led the rally with significant gains.
HCLTech has secured a significant $1.14 billion contract from a European Fortune 50 company, marking a major milestone for the company’s growth. The five-year deal is expected to generate $228 million in annual revenue and boost HCLTech’s Europe revenue.
Bank of Baroda has settled a long-standing dispute with the administrators of NMC Health Plc, NMC Healthcare Ltd, and NMC Holding Ltd in Abu Dhabi for ₹5,700 crore, ending years of litigation in the Abu Dhabi Global Market courts and the High Court of England and Wales.
Bank of Baroda has witnessed a significant surge in its global business, with a 15.46% year-on-year increase in the first quarter of FY27. The bank’s focus on retail lending and efforts to increase its market share have been key drivers of growth.
The Indian government has accelerated its disinvestment and asset monetisation plan, securing 31% of its full-year budgeted target in the first quarter itself. The move aims to shore up revenues and address the stress related to likely doubling of fertiliser subsidy bill.
