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A U.S. banking trade group has sued the Office of the Comptroller of the Currency, accusing the regulator of fast-tracking trust bank charters for crypto firms without proper scrutiny. The case escalates a widening fight over whether digital asset companies should be allowed to enter the federal banking system through a lighter-touch trust charter route.
HDFC Bank has appointed Anup Bagchi, a long-serving ICICI Bank executive with deep experience across banking, insurance and financial services, as its new Managing Director and Chief Executive Officer. His appointment takes effect on October 27, succeeding Sashidhar Jagdishan, whose term ends a day earlier, after receiving Reserve Bank of India approval.
The Reserve Bank of India is actively assessing Anup Bagchi as a potential chief executive for HDFC Bank and has sought views from the Insurance Regulatory and Development Authority of India and ICICI Bank on his candidature, according to people familiar with the matter. The review reflects regulatory caution over Bagchi’s three-year gap from mainstream banking, even as HDFC Bank has proposed Kaizad Bharucha for the role, a move that would require changes to existing tenure norms.
HDFC Bank has appointed Anup Bagchi as managing director and chief executive officer, effective October 27, 2026, subject to regulatory and shareholder approvals. The Reserve Bank of India has cleared the appointment, and Bagchi will also join the board as an additional director. His return to banking after a three-year stint at ICICI Prudential Life Insurance comes at a pivotal moment for India’s largest private lender.
Axis Bank is preparing to significantly expand its lending to India’s data centre sector, with exposure projected to double from Rs 8,688 crore over the next three years, according to the latest market context. The move reflects a broader banking shift toward financing the infrastructure underpinning artificial intelligence, cloud computing and digital services, even as lenders weigh concentration risk, long project tenors and execution challenges.
Banks are expected to put additional liquidity from FCNR(B) deposits to work in the coming months as festive-season borrowing demand strengthens, Reserve Bank Deputy Governor Rohit Jain said. He added that the central bank will not direct lenders toward specific sectors, leaving deployment decisions to banks based on the quality of credit proposals and prevailing demand across the economy.
Kerala Governor Rajendra Vishwanath Arlekar called on graduating students of the Indian Institute of Information Technology, Kottayam, to apply technology with responsibility and public purpose, underscoring the ethical weight carried by India’s expanding digital workforce. The institute awarded degrees to 386 BTech students, 84 MTech graduates and eight PhD scholars, while 55 merit certificates were also issued at the convocation.
The Metropolitan Museum of Art has announced the 2026 Costume Institute theme, setting the stage for a spring exhibition that will examine the increasingly intricate dialogue between artisanal handwork and advanced technology. The concept positions fashion not simply as spectacle, but as a cultural record of how designers are negotiating labour, innovation and the future of luxury.
The Metropolitan Museum of Art has opened a Costume Institute exhibition that traces three centuries of textile conservation, placing the normally invisible labour of preservation at the centre of fashion history. In New York, the show reframes garments not as static relics but as living documents shaped by craft, climate, care and time.
The Institute for the Study of War’s latest assessment portrays Russia’s campaign in Ukraine as increasingly defined by endurance rather than decisive battlefield gains. The analysis underscores a conflict in which Moscow is still pursuing pressure across multiple fronts, while Kyiv and its partners face a war that shows few signs of a near-term political or military resolution.
The Institute of Chartered Accountants of India is preparing to propose changes to the Chartered Accountants Act aimed at enabling larger, more competitive Indian accounting firms. The move follows discussions at the Prime Minister’s Office on regulatory adjustments that could help domestic professional services firms expand and collaborate more effectively.
Kerala Governor Rajendra Vishwanath Arlekar called on graduating students of the Indian Institute of Information Technology, Kottayam, to apply technology with responsibility and public purpose, framing digital innovation as a force that must be guided by ethics and social accountability. The remarks came at a convocation where degrees were awarded to 386 BTech students, 84 MTech graduates and eight PhD scholars, alongside 55 merit certificates.
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