Finance

LIC Housing Finance has announced a reduction in its home loan interest rates, bringing the starting rate down to 7.15%. The move comes at a time when affordability and housing demand are closely linked to borrowing costs. By easing interest rates, the lender aims to support first-time homebuyers, encourage refinancing, and stimulate demand across the residential real estate sector. The decision reflects improving liquidity conditions and competitive pressures within the housing finance market.

IIFL Finance has appointed B. P. Kanungo as its chairman, marking a significant leadership development for the diversified financial services group. The appointment brings to the board a seasoned policymaker with deep experience in central banking, regulation and financial system oversight. The move is widely seen as an effort to strengthen corporate governance and risk management at a time when non-banking financial companies face heightened regulatory scrutiny.

Piramal Finance has announced its exit from Shriram Life Insurance, selling its stake for ₹600 crore. The divestment is part of Piramal’s broader strategy to optimize its portfolio and focus on core financial services and lending operations. Industry analysts note that the transaction reflects consolidation trends within India’s insurance sector, where non-core investors are realigning their holdings. The deal not only provides Piramal Finance with significant capital to redeploy but also enables Shriram Life to strengthen its equity base under new ownership.

State Bank of India (SBI) has achieved a significant milestone, with its home loan portfolio crossing Rs 9 lakh crore, reflecting strong demand for housing finance across the country. The growth is attributed to a combination of favorable interest rates, government housing schemes, and sustained urban and semi-urban demand. Analysts note that SBI’s strategic expansion, competitive pricing, and digital lending platforms have strengthened its market leadership.

Maruti Suzuki has entered into a strategic partnership with Chhattisgarh Gramin Bank aimed at strengthening rural auto financing and expanding vehicle accessibility in the region. The collaboration focuses on providing customized loan products, streamlined financing solutions, and faster approval processes for rural customers seeking Maruti Suzuki vehicles. This initiative reflects the company’s commitment to inclusive growth, targeting underserved markets while leveraging the bank’s extensive rural network.

State Bank of India (SBI), the country’s largest lender, is urging the government to introduce a dedicated credit guarantee framework for emerging industries such as electric mobility, renewable energy, deep-tech, and digital-first enterprises. With new-age sectors rapidly expanding yet often lacking traditional collateral structures, SBI aims to reduce lending risk while enabling greater capital flow to high-growth industries.

In a strategic move to enhance credit accessibility for India’s growing startup ecosystem, the Ministry of Finance has launched a dedicated Startup Loan Platform on the JanSamarth portal. This initiative aims to streamline loan applications for early-stage ventures, offering faster approvals and improved transparency. The portal integrates multiple government-backed schemes under a single digital interface, enabling startups to secure funding without bureaucratic hurdles.

In a significant policy enhancement aimed at promoting agricultural innovation, the Maharashtra government has doubled its financial aid for farmers participating in foreign study tours—from Rs. 1 lakh to Rs. 2 lakh per participant. The move, designed to offset rising international travel costs, seeks to empower farmers with global exposure to modern agricultural techniques, processing technologies, and market practices.

The Delhi government has launched a ₹55 crore collateral-free loan scheme aimed at supporting small and medium-sized enterprises (SMEs), with a special focus on women entrepreneurs and MSMEs promoted by Agniveers. Under this initiative, businesses can access loans up to ₹10 crore without the need for collateral, significantly reducing financial barriers to entrepreneurship. The scheme is a collaborative effort with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), ensuring high loan guarantee coverage to mitigate lender risks.

The Enforcement Directorate (ED) has questioned the Managing Director of Muthoot Group in connection with an ongoing financial fraud investigation. The probe reportedly revolves around allegations of irregularities in loan disbursements and financial transactions under the group’s operations. The ED’s inquiry forms part of a broader crackdown on corporate financial misconduct, aiming to identify culpable individuals and ensure compliance with regulatory frameworks.