Category: Finance

Finance

Goa Deposit Refund Scheme Raises Industry and Consumer Concerns Over Higher Costs, Waste Responsibility and Regulatory Burden

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Written by Intern Rency Gomes ||Team Allycaral 

The Goa Government has announced the implementation of a Deposit Refund Scheme (DRS) effective April 1, 2026, under which consumers—both residents and tourists—will be required to pay an additional deposit on daily-use food items sold in plastic and glass packaging. These include bottles, pouches, multilayered wrappers, cartons, and similar packaging formats.


Under the scheme, consumers will be expected to return used packaging to designated collection centres in order to receive a refund, ranging from ₹2 to ₹10 per item, credited digitally to their bank accounts.

Concerns Raised for Consumers

Industry representatives and consumer groups have flagged multiple challenges associated with the scheme. Consumers will be required to store used, often unhygienic packaging and transport it to collection points, which may be limited in number and accessibility. While urban consumers may have easier access, rural and semi-urban residents could face difficulties, potentially leading to forfeiture of the deposit amount.

Additionally, Goans would effectively bear the cost of managing the same waste stream twice—once through existing household waste management fees and again through the DRS deposit—raising questions about fairness and efficiency.

Environmental and Operational Questions

Stakeholders argue that the cost and complexity of the scheme may outweigh its environmental benefits. India already has established recycling infrastructure for plastic, metal, and glass waste, and Goa operates a functioning door-to-door waste collection, segregation, composting, and processing system. Goa’s urban bodies were also recognised nationally for their waste management efforts at the Swachh Survekshan 2024–25 Awards.

Despite this, the DRS has reportedly been introduced without a comprehensive scientific or technical evaluation. Industry bodies claim there was no prior consultation with local self-governments, consumers, retailers, waste pickers, recyclers, waste management agencies, or environmental experts, nor was sufficient environmental impact data assessed.

Impact on FMCG Industry

India’s FMCG sector, valued at approximately ₹21 lakh crore and a significant contributor to Goa’s GDP, is already compliant with the Plastic Waste Management Rules. Industry representatives say the DRS imposes duplicate regulatory compliance specific to Goa, potentially disrupting market dynamics.

The exemption of micro enterprises from the scheme has also raised concerns, as it may undermine the stated objective of reducing litter while creating price distortions in highly competitive categories such as packaged snacks, drinking water, soft drinks, and juices.

Call for Deferment

Citing operational, design, and implementation challenges, stakeholders have urged the Chief Minister of Goa to defer the rollout of the Deposit Refund Scheme. They have recommended the formation of a joint working group comprising industry associations, consumer representatives, local bodies, and technical experts to review the framework and assess its environmental, economic, and social impact before implementation.

Finance

IDBI Bank Posts ₹1,935 Crore Net Profit in Q3 FY2026, Strengthens Asset Quality and Capital Position

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

IDBI Bank Limited reported a steady financial performance for the third quarter ended December 31, 2025, with improved profitability, robust business growth, enhanced asset quality and a strengthened capital position, reflecting sustained momentum in Q3 FY2026.

The Bank posted a net profit of ₹1,935 crore for the quarter, compared to ₹1,908 crore in the corresponding period last year. Return on Assets stood at 1.83%, while Return on Equity was recorded at 14.49%, supported by a healthy Net Interest Margin of 3.52% and a Cost-to-Income Ratio of 56.61%.

Deposits grew by 9 per cent year-on-year to ₹3,07,858 crore as on December 31, 2025, driven by stable CASA deposits of ₹1,35,632 crore, with a CASA ratio of 44.06%. Net advances rose 15 per cent to ₹2,38,786 crore, reflecting strong credit growth across corporate and retail segments, with a diversified portfolio mix of 29:71.

Asset quality continued to improve, with the Gross NPA ratio declining to 2.57% from 3.57% a year earlier, and Net NPA remaining low at 0.18%. The Provision Coverage Ratio stood at a healthy 99.33%, underlining the Bank’s prudent risk management practices.

IDBI Bank further strengthened its capital position during the quarter, with Tier-I Capital rising to 23.53% and the Capital to Risk Weighted Assets Ratio improving to 24.63%. Risk Weighted Assets stood at ₹2,11,567 crore, reflecting the Bank’s expanding balance sheet and strong capital buffers.

The results underline IDBI Bank’s focus on sustainable growth, operational efficiency and financial resilience as it continues to build momentum in India’s evolving banking landscape.

Finance

Bank of Baroda Wins Five Honours at IBA’s 21st Annual Banking Technology Awards 2025

Tanisha Cardozo

Written by Intern Rency Gomes, Team Allycaral

Bank of Baroda, one of India’s leading public sector banks, has received five awards at the Indian Banks’ Association’s 21st Annual Banking Technology Awards 2024–25, reaffirming its position as a frontrunner in technology-driven banking and innovation. The awards were announced in Mumbai on January 13, 2026.

The Bank emerged as the winner in four categories under the Large Banks segment, including Best AI and Machine Learning Adoption, Best Fintech and Digital Public Infrastructure Adoption, Best IT Risk Management, and Best Tech Talent. In addition to these category wins, Bank of Baroda also received a Special Mention in the Best Technology Bank category.

Commenting on the achievement, Debadatta Chand, Managing Director and Chief Executive Officer of Bank of Baroda, said the recognition reflects the Bank’s sustained focus on innovation, strong risk management practices, and the development of a skilled technology workforce. He noted that the Bank remains committed to investing in future-ready digital capabilities to deliver secure, seamless, and customer-centric banking experiences while creating long-term value for all stakeholders.

The awards further reinforce Bank of Baroda’s strategy of leveraging advanced digital solutions to improve operational efficiency and enhance customer service across channels. Over the years, the Bank has consistently prioritised technology-led transformation as a core pillar of its growth and service delivery model.

Founded in 1908, Bank of Baroda today serves more than 180 million customers globally through an extensive network of physical branches and digital banking platforms across multiple countries, offering a comprehensive range of banking products and financial services.

Finance

Axis Finance Launches ‘Vyapar Business Loan’ to Empower Micro & Small Businesses

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

Axis Finance Limited (AFL), one of India’s fastest-growing non-banking financial companies (NBFCs), has announced the launch of Axis Finance Vyapar Business Loan, a collateral-free credit solution aimed at addressing the financing needs of micro and small businesses across semi-urban and rural India.

The Vyapar Business Loan is designed to support entrepreneurs operating in the retail, service and trading segments, offering loans of up to ₹10 lakh with flexible repayment tenures and zero collateral requirements. With a simplified application process and minimal documentation, the product ensures quick and hassle-free access to formal credit for India’s self-employed community. The financing can be utilised for working capital needs, business expansion or equipment upgrades.

Commenting on the launch, Sai Giridhar, MD & CEO, Axis Finance Limited, said that micro and small entrepreneurs form the backbone of India’s economy. He noted that the Vyapar Business Loan aims to make formal credit more inclusive by enabling shopkeepers, traders and service providers to access collateral-free finance, helping them scale operations and fulfil their growth aspirations with confidence.

He further highlighted Axis Finance’s focus on leveraging technology and data-driven underwriting to ensure faster turnaround times and a superior customer experience. According to him, the launch of Vyapar Business Loan marks a significant milestone in the company’s journey to empower India’s self-employed population with simple, secure and scalable credit solutions.

Earlier in the fiscal year, Axis Finance introduced Disha Home Loans to improve homeownership access for Economically Weaker Section (EWS) and Low-Income Group (LIG) customers, and also launched Axis Finance Shakti, a Micro Loan Against Property (Micro LAP) product for micro-entrepreneurs and self-employed individuals. Vyapar Business Loan builds on these initiatives, further strengthening AFL’s commitment to inclusive lending and grassroots economic development.

Axis Finance continues to expand its presence across secured and unsecured lending segments, supported by strong underwriting capabilities, advanced technology platforms and an extensive distribution network focused on delivering seamless customer experiences across emerging markets.


Axis Finance Limited is a non-deposit accepting NBFC registered with the Reserve Bank of India and classified under the Middle Layer (NBFC-ML). A wholly-owned subsidiary of Axis Bank Limited, the company offers a wide range of retail and wholesale lending solutions, including Loans Against Property, Business Loans, Personal Loans, Disha Home Loans, Corporate Financing and Real Estate Financing.

Finance

HDFC Bank Integrates Digital Rupee (e₹) into SmartGateway Payment Platform

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

HDFC Bank has announced the integration of the Reserve Bank of India’s Central Bank Digital Currency, the Digital Rupee (e₹), into its online merchant payment platform, SmartGateway, marking a significant step in expanding India’s digital payments ecosystem. The move enables merchants to offer customers a secure, sovereign-backed digital payment option directly within the HDFC Bank checkout experience.

With this integration, merchants using SmartGateway can now accept payments through the Digital Rupee at zero transaction cost, in addition to existing payment modes such as UPI, cards, and net banking. The enhancement is designed to provide customers with a seamless payment experience that is instant, secure, and free of intermediary charges.

As of December 2025, HDFC Bank is among the pilot banks participating in the RBI’s CBDC initiative, servicing approximately 8.45 lakh registered Digital Rupee wallets. The bank continues to see steady adoption, with nearly 13,000 to 15,000 new wallets being added every month, reflecting growing consumer and merchant confidence in the emerging digital currency.

For merchants, zero-cost acceptance of CBDC presents a future-ready payment option that offers improved settlement certainty and reduced operational overheads by eliminating intermediaries. For consumers, the Digital Rupee combines the convenience and speed associated with UPI with the added trust and assurance of an RBI-backed sovereign digital currency, ensuring fast and secure transactions.

By enabling CBDC acceptance on SmartGateway, HDFC Bank is expanding the choice of digital payment options available to customers while extending the benefits of the Digital Rupee to a broader base of businesses. The initiative underscores the bank’s digital-first approach and its continued focus on innovation in the payments space.

This integration further reinforces HDFC Bank’s commitment to supporting India’s transition towards a cash-light, inclusive digital economy, while positioning SmartGateway as a comprehensive and future-ready payment platform aligned with the country’s evolving financial landscape.