INDIAN BANKING RADAR (IBR) -BANKING & ECONOMY INTELLIGENCE DAILY

PLATINUM SERIES 2.0 | VOL. 225

MONDAY, 9 NOVEMBER 2026

TOP 10 BANKING, FINANCIAL, REGULATORY, COOPERATIVE & ECONOMIC DEVELOPMENTS

For: Bankers • Cooperative Banks • RRBs • NBFCs • Banking & Other Competitive Exam Aspirants

1. RBI CLARIFIES FALSE CLAIMS ABOUT NEW CTS CHEQUE-BOOK RULES

RBI Clarification | 7 November 2026

The Reserve Bank of India clarified that it is not introducing any new measures relating to Cheque Truncation System (CTS) cheque books from 1 January 2027.

- The viral claim that existing cheque books would become invalid after 31 December 2026 is false.

- No compulsory replacement of existing CTS-compliant cheque books has been announced.

- Customers have been advised to rely on official RBI communications.

Banking Significance: Banks and customers should remain alert to misleading messages circulated through social media and messaging platforms.

2. RBI CONSTITUTES TECHNICAL CONSULTATIVE COMMITTEE FOR FINANCIAL MARKETS

RBI | 4 November 2026

The RBI constituted the Technical Consultative Committee for Financial Markets (TCCFM) to strengthen engagement with market participants on policy and operational matters.

Key features:

- Chaired by the RBI Deputy Governor in charge of the Financial Markets Regulation Department.

- Includes representatives from SBI, Axis Bank, ICICI Bank, Citibank India, FIMMDA, Clearing Corporation of India and Morgan Stanley.

- Covers money markets, government securities, foreign exchange and related derivatives.

- Meetings will be held at least once every quarter.

Significance: The committee is expected to facilitate market development, improve market infrastructure and address emerging financial-market issues.

3. RBI LAUNCHES THREE HOUSEHOLD SURVEYS FOR NOVEMBER 2026

RBI | 3 November 2026

The RBI launched three important surveys to assess household sentiment and inflation expectations. Their findings provide inputs for monetary-policy assessment.

A. Rural Consumer Confidence Survey (RCCS)

- Covers rural and semi-urban households across 31 States/Union Territories.

- Assesses perceptions and one-year-ahead expectations regarding the economy, employment, prices, income and spending.

B. Urban Consumer Confidence Survey (UCCS)

- Conducted across 19 cities, including Hyderabad.

- Captures household views on economic conditions, employment, prices, income and expenditure.

C. Inflation Expectations Survey of Households (IESH)

- Conducted across 19 cities.

- Captures household expectations about price movements over the next three months and one year.

- Collects both qualitative and quantitative responses on inflation.

Exam Significance: These surveys are important inputs for the RBI's monetary-policy formulation.

4. SEBI RELAXES DIGITAL KYC REQUIREMENTS FOR NON-RESIDENT INVESTORS

SEBI Circular | 4 November 2026

SEBI revised the KYC framework for individual Persons Resident Outside India (PROIs), including NRIs, OCIs and foreign nationals.

Important changes:

- Digital KYC onboarding is permitted for eligible PROI clients located in FATF-compliant countries, even when they are physically outside India.

- KYC records are made portable across intermediaries.

- Intermediaries may rely on eligible KYC records available through KYC Registration Agencies (KRAs) and the Central KYC Records Registry.

- Video In-Person Verification and concurrent audit requirements continue to apply.

Significance: The changes aim to simplify securities-market onboarding for eligible overseas investors while retaining KYC and due-diligence safeguards.

5. IRDAI INTRODUCES FOUR-LAYER MOTOR INSURANCE STRUCTURE

IRDAI Circular | 2 November 2026

IRDAI issued directions for a four-layer motor insurance policy structure for private cars and two-wheelers, following directions of the Supreme Court.

The four layers are:

1. Third-party liability – Mandatory.

2. Legal liability to occupants/pillion riders – Optional.

3. Personal accident cover – Owner-insured cover is mandatory; additional occupant cover is optional.

4. Own-damage cover – Optional.

Other requirements:

- Uniform policy wordings.

- Mandatory customer option form.

- Customer Information Sheet at the point of sale.

- Integration with the Bima Sugam platform.

Effective Date: 15 December 2026.

Significance: The framework is intended to improve transparency and enable vehicle owners to make informed insurance choices.

6. IFC PROPOSES US$150 MILLION SOCIAL LOAN TO SBI FOR WOMEN BORROWERS

International Finance Corporation | 6 November 2026

The International Finance Corporation (IFC), a member of the World Bank Group, disclosed a proposed senior unsecured social-loan facility of up to US$150 million to State Bank of India through its GIFT City Branch.

Key features:

- Proceeds will primarily support lending to women micro-borrowers through Self-Help Groups (SHGs).

- At least 90% of the lending is earmarked for women micro-entrepreneurs/borrowers, including women engaged in agriculture and allied activities.

- IFC will also support capacity-building and financial-literacy initiatives for SHG members and bank staff.

Significance: The initiative supports women's financial inclusion, rural micro-enterprises and SHG-bank linkage.

7. PUBLIC SECTOR BANKS REPORT ₹53,771 CRORE NET PROFIT IN Q2 FY27

Financial Performance | September 2026 Quarter

Twelve listed public sector banks reported aggregate net profit of ₹53,771 crore in Q2 FY 2026–27, registering approximately 17% year-on-year growth.

Key indicators:

- Net Interest Income (NII): Approximately ₹1.26 lakh crore, up 16%.

- Other income: ₹51,669 crore, up 4.2%.

- Advances growth: Approximately 18.8%.

- Net NPAs: ₹44,092 crore, down 13.3% year-on-year.

Banking Perspective: Strong NII growth and improvement in asset quality supported profitability. Banks must continue monitoring deposit costs, credit quality and sector-specific risks.

8. ONESTACK RAISES ₹12.5 CRORE TO EXPAND COOPERATIVE BANK TECHNOLOGY

Cooperative Banking & Fintech | November 2026

Fintech infrastructure provider OneStack raised ₹12.5 crore in a funding round led by Shepherd's Hill, with participation from existing investors.

The company plans to expand its technology offerings for cooperative banks and NBFCs.

Focus areas include:

- Core Banking Solutions (CBS).

- UPI issuing and merchant acquiring.

- Mobile banking and digital payments.

- Customer verification and fraud-reporting tools.

- Regulatory compliance and technology infrastructure.

OneStack reportedly serves more than 200 banks and has been onboarded as a technology service provider on Sahakar Sarathi.

Cooperative Banking Perspective: Shared technology platforms can help UCBs, DCCBs and StCBs strengthen digital banking capabilities and improve customer services.

9. SBI ACQUIRES RETAIL LOAN ASSETS WORTH OVER ₹17,000 CRORE IN H1 FY27

State Bank of India | H1 FY 2026–27

SBI acquired retail loan assets worth over ₹17,000 crore during the first half of FY 2026–27 through securitisation and the direct-assignment route.

The acquired assets included:

- Home loans.

- Loans to small and medium enterprises.

- Agriculture-sector loans.

- Secured and unsecured retail loan assets.

The bank acquired eligible homogeneous loan assets from NBFCs, housing finance companies and microfinance institutions.

Banking Significance: Such transactions help banks expand their loan portfolios and manage credit deployment through acquisition of eligible loan assets.

10. EQUITAS SMALL FINANCE BANK APPOINTS INTERIM MD & CEO

Equitas Small Finance Bank | 6 November 2026

The RBI approved the appointment of Mr. Balaji Nuthalapadi as interim Managing Director and Chief Executive Officer of Equitas Small Finance Bank.

- Appointment effective from 6 November 2026.

- Tenure: Three months or until appointment of a regular MD & CEO, whichever is earlier.

- P. N. Vasudevan was relieved from the position with immediate effect.

Significance: The development marks a leadership transition at Equitas Small Finance Bank.

QUICK REVISION CAPSULE

Topic| Important Fact

RBI TCCFM| Constituted on 4 November 2026

TCCFM meetings| At least once every quarter

Rural Consumer Confidence Survey| 31 States/UTs

Urban Consumer Confidence Survey| 19 cities

Inflation Expectations Survey| 19 cities

SEBI digital KYC relaxation| Eligible PROI clients in FATF-compliant countries

Four-layer motor insurance| Effective 15 December 2026

IFC–SBI proposed social loan| US$150 million

Women-focused lending allocation| At least 90%

PSB Q2 FY27 net profit| ₹53,771 crore

OneStack funding| ₹12.5 crore

SBI retail loan acquisitions| Over ₹17,000 crore

Equitas interim MD & CEO| Balaji Nuthalapadi

KNOWLEDGE CHECK – 5 MCQs

Q1. The RBI's Technical Consultative Committee for Financial Markets is required to meet at least:

A. Once every quarter

B. Once every month

C. Once every six months

D. Once every year

E. Once in two years

Q2. The November 2026 Rural Consumer Confidence Survey covers how many States/Union Territories?

A. 19

B. 31

C. 28

D. 25

E. 36

Q3. SEBI's revised digital KYC relaxation for eligible individual PROI clients applies to clients located in:

A. Any country without restriction

B. Only G20 countries

C. FATF-compliant countries

D. Only SAARC countries

E. Only countries having a bilateral tax treaty with India

Q4. IRDAI's four-layer motor insurance policy structure comes into force from:

A. 1 January 2027

B. 1 April 2027

C. 1 November 2026

D. 15 December 2026

E. 1 July 2027

Q5. What is the maximum proposed social-loan facility disclosed by IFC for SBI?

A. US$50 million

B. US$75 million

C. US$100 million

D. US$125 million

E. US$150 million

ANSWER KEY

Q1.A

Q2.B

Q3.C

Q4.D

Q5.E

IBR EDITORIAL PERSPECTIVE

Today's developments highlight five important themes:

1. Regulatory developments: RBI, SEBI and IRDAI continue to refine regulatory and operational frameworks.

2. Financial markets: The constitution of TCCFM strengthens structured engagement between RBI and market participants.

3. Financial inclusion: The IFC–SBI initiative reinforces the importance of SHG-based lending and women's entrepreneurship.

4. Cooperative banking transformation: Technology platforms such as OneStack can support digital modernisation of cooperative banks.

5. Banking performance: Strong PSB profitability and SBI's retail loan acquisitions highlight developments in credit growth and portfolio management.

Special focus for banking professionals: Study the RBI surveys, SEBI's revised KYC framework, IRDAI's four-layer motor insurance structure and the role of technology in cooperative banking.

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Editorial Disclaimer: This bulletin is intended for educational and examination-preparation purposes. Regulatory proposals, disclosed financing facilities and scheduled effective dates are identified accordingly. Readers should refer to the original regulator circulars, official disclosures and bank communications before taking operational or compliance decisions.