1. ECONOMIC OVERVIEW
Global Economy
The global economy stands at a pivotal point in 2025, grappling with persistent challenges while beginning to show early signs of resilience. Global development is anticipated to moderate to 2.8% in 2025, as indicated by the most recent projections from the International Monetary Fund (IMF). While this marks a slowdown from pre-pandemic averages, it still reflects a path of continued expansion.
This moderation stems from both cyclical pressures and deeper structural issues. Rising trade barriers, persistent policy uncertainties, and subdued consumer confidence, particularly in advanced economies, are operating as substantial drags on momentum. Even so, the global economy is not at a standstill. Instead, it is gradually adjusting to a shifting global landscape, working towards a new balance in the post-pandemic era.
GDP Growth Projections
| 2024 | 2025 | 2026 | |
| Global Economy | 3.3 | 2.8 | 3.0 |
| Advanced Economies | 1.8 | 1.4 | 1.5 |
| Emerging Markets and | 4.3 | 3.7 | 3.9 |
| Developing Economies |
In April 2025, global trade faced a sudden disruption by a comprehensive alteration in US tariff policy. The US enacted a comprehensive 10% tariff on all imports, citing a ‘national emergency due to perceived inequitable trade practices, effective April 5, 2025. This marked a sharp departure from years of liberalised trade, impacting almost all trading partners and adding fresh complexity to the global economy.
The most stringent measures were aimed at China, where taxes on Chinese goods escalated to 145% by mid-April. In a rapid and vigorous response, China increased taxes on US exports to over 148%, deepening the divide between the worlds two largest economies. The escalation disrupted global supply networks, increased cost pressures for businesses and consumers, and triggered further volatility in financial markets.
In response to escalating diplomatic repercussions and increasing market volatility, the US implemented a 90-day moratorium on additional tariff increases for 59 nations. This temporary relief, extended to key allies such as the European Union, Canada, Mexico, South Korea, and Vietnam, established a tariff ceiling at the revised 10% baseline and initiated a discussion period. China was notably excluded from this reprieve, with the heightened tariffs persisting, worsening already strained bilateral relations.
This reform signifies a dramatic shift in the US trade policy, marking a reversal of decades of globalisation and signalling a move towards greater economic protectionism. The initiative, presented as a means to rectify trade disparities and protect local industries, has generated considerable confusion within the global trading framework. The enduring effects will hinge on the duration of these measures and the broader response from the international community.
The International Monetary Funds April 2025 World Economic Outlook presents a cautiously optimistic perspective on inflation. Global inflation is projected to continue its downward trend, easing from 6.8% in 2023 to
5.9% in 2024, and further to 4.5% in 2025. This disinflationary trend is driven by multiple factors: the resolution of supply chain disruptions, decreasing food and energy prices, and the enduring impacts of stringent monetary policy, especially in developed nations.
Advanced economies are anticipated to achieve their inflation targets more swiftly than Emerging Market and Developing Economies (EMDEs), where inflationary pressures remain more entrenched. Core inflation, which excludes volatile food and energy components, is expected to decline at a slower pace due to ongoing wage growth and persistent price pressures in services.
Nonetheless, adverse hazards persist. The latest revision of US tariffs, coupled with widespread policy ambiguity, may hinder the disinflation process. Increasing import expenses may contribute to elevated consumer prices, thereby delaying the anchoring of inflation expectations and complicating central banks efforts to achieve lasting price stability.
The ongoing global economic disruption is driven by both trade tensions and significant, lasting structural shifts. Technological breakthroughs and automation have persistently transformed labour markets and industrial systems, improving efficiency while widening inequality and displacing sections of the workforce. Concurrently, complex global supply chains are highly vulnerable to disruptions, and increasing geopolitical instability is diminishing corporate confidence and delaying investment.
Financial conditions are tightening, and market volatility is increasing, exposing new vulnerabilities within the global financial system. Navigating this evolving landscape calls for a policy approach that enhances resilience, promotes inclusion, and moves beyond binary narratives around trade.
Indian Economy
The Indian economy growth rate is reported at 6.5% in
FY 2024-25, reflecting strong domestic resilience amid global turbulence. Firm rural consumption, supported by steady agricultural output and targeted government initiatives, has cushioned external shocks, though sustained growth hinges on broader demand recovery across sectors. Structural reforms, digital adoption, and infrastructure investment continue to strengthen macro fundamentals. However, further reform is vital to enhance manufacturing competitiveness and attract long-term investment. Externally, easing oil prices and a manageable current account deficit offer support, while persistent inflation keeps the RBIs monetary stance cautious and data-driven.
Indian Economy Real GDP Growth Rate (in %)
| Year | FY 2020-21 | FY 2021-22 | FY 2022-23 | FY 2023-24 | FY 2024-25 |
| GDP Growth Rate (%) | (6.6) | 8.7 | 7.0 | 7.6 | 6.5 |
E: Estimated
Indias economy continued on a resilient growth trajectory in FY 2024-25, led by strong performance in the services sector, which expanded by 7.2%. This growth was powered by robust demand in financial services, healthcare, hospitality, and public administration. Recovery in consumer spending and a revival in tourism added further momentum, while the IT sector maintained moderate growth despite global headwinds, remaining a steady contributor to employment and GDP.
The agriculture sector staged a solid recovery, growing at 3.8%, a notable rise from 1.4% in FY 2023-24. This turnaround was underpinned by a favourable monsoon, resilient rural demand, and impactful government initiatives such as the Kisan Credit Card and the electronic National Agriculture Market (eNAM). A substantial allocation of
Rs.1.52 Trillion in the Union Budget provided targeted support for credit access, digital infrastructure, and sustainability.
Meanwhile, manufacturing growth moderated to 6.2%, down from 9.5% in the previous year. The slowdown reflected weaker demand, supply-side disruptions, and inventory build-ups, further impacted by weather-related delays during the monsoon. The Index of Industrial Production (IIP) eased to 5.2%. Despite these challenges, the sector remains supported by macroeconomic stability, sound fiscal management, and continued infrastructure investment.
A key feature of the year was the shifting inflation landscape, which significantly influenced the broader economic narrative. For much of 2024, Consumer Price Index (CPI) inflation remained elevated, persistently hovering above the RBI 4% target, mainly due to recurrent spikes in food prices.
However, a turning point came in February 2025, when CPI inflation declined sharply to 3.61%, falling below the target for the first time in six months. This relief was primarily driven by a steep drop in food inflation, accompanied by a concurrent decline in rural inflation, which helped temper overall price levels.
In contrast, the Wholesale Price Index (WPI) inflation edged up slightly to 2.38%, reflecting upward cost pressures from fuel and select food items. These evolving inflation dynamics signalled a softening price environment in early 2025 offering timely relief to consumers and presenting the
RBI with an opportunity to consider policy easing.
Against this backdrop, the Monetary Policy Committee (MPC) made a pivotal shift in February 2025, unanimously voting to cut the repo rate by 25 basis points to 6.00%, the first reduction in nearly five years. This marked the end of a long pause since May 2020 and was facilitated by the declining inflation trend, particularly in volatile food and fuel categories. Alongside the rate cut, the MPC shifted its policy stance from ‘neutral to ‘accommodative, clearly signalling a renewed focus on supporting growth.
To reinforce this stance, the RBI injected nearly Rs.7 Lakh Crore into the banking system through a mix of bond purchases, foreign exchange swaps, and Variable Rate Repo (VRR) auctions, aimed at alleviating liquidity pressures and boosting credit availability.
Indias external sector also remained a source of strength.
Foreign exchange reserves rose to US$ 676.3 Billion by March 31, 2025, up from US$ 648.6 Billion March 31, 2024.
This increase was driven by valuation gains and strategic
RBI interventions, bolstering Indias import cover and insulating the economy from global shocks. The Indian rupee, while facing intermittent bouts of depreciation, ended the year with only a modest 2.4% decline, performing better than several other emerging market currencies. A softer US dollar and strong portfolio inflows contributed to a sharp rebound in early 2025, with March marking its strongest monthly appreciation in over six years.
The RBIs calibrated policy approach, anchored in monetary discipline yet responsive to growth needs, has helped navigate global uncertainties while maintaining domestic financial stability. Recent downward revisions in both inflation and growth forecasts suggest increasing confidence in the disinflation trajectory, even as external risks persist. Looking ahead, the shift towards an accommodative policy environment is expected to enhance the competitiveness of Indias financial sector, particularly benefitting insurance and fintech firms as they expand new market segments.
India is entering a phase of resilient economic momentum, with real GDP growth projected at 6.5% annually from FY 2025-26 to FY 2027-28. This outlook is fuelled by rising manufacturing agility, a booming services export engine, accelerating digital adoption, key drivers of productivity and efficiency across sectors. Yet, headwinds persist. slowdown in global heavyweights like the US and China could dampen demand, while hesitancy in private sector capex and pressure from Chinas currency dynamics may test trade resilience. Still, shifting global supply chains, driven by the ‘China + 1 strategy, are positioning India as a critical player in the next phase of global growth and industrial diversification.
2. INDIAN BANKING SECTOR
The banking sector in India has established itself as a fundamental component of economic stability: strong, well-capitalised, and prudently regulated by the RBI. In recent years, the industry has undergone a significant transformation, driven by new banking models and forward-looking government initiatives.
The emergence of payment banks and small finance banks has been a significant facilitator in this shift. These innovative organisations have expanded the range of financial services, addressing groups that were formerly neglected. By leveraging modern technology and customer-focussed strategies, they have transformed the banking approach of various populations nationwide.
This advancement has been further invigorated by ambitious programmes that advocate financial inclusion. The Pradhan Mantri Jan Dhan Yojana is a significant initiative that incorporates millions of unbanked individuals into the official financial system. In addition, the Post Payments Bank has utilised the extensive postal infrastructure to provide banking services to the most isolated and underserved areas.
These advancements have established a basis for a digitally driven, inclusive financial ecosystem that enhances access to services while fostering broader economic empowerment and more equitable growth.
Key Performance Indicators
Capital Markets
The Economic Survey 2024-25 highlights an upswing in Indias capital markets, driven by robust macroeconomic fundamentals, healthy corporate earnings, and expanding investor interest. Notably, India secured its position as the largest contributor to global IPO activity in 2024, accounting for 30% of listings worldwide up from 17% in 2023, and leading global primary capital mobilisation. From April to December 2024, Rs.11.1 Lakh Crore was raised through equity and debt instruments, exceeding the total raised in the previous year. This growth has been supported by advancements in digital infrastructure, increasing formalisation of the economy, and the greater flow of domestic savings into financial assets.
Asset Quality
The period from 2018 to 2024 marked a significant turnaround for Indias public sector banks, as they
The RBIs calibrated policy approach, anchored in monetary discipline yet responsive to growth needs, has helped navigate global uncertainties while maintaining domestic financial stability.
successfully reduced their burden of non-performing assets. Gross Non-Performing Assets (GNPAs) fell sharply from a distressing high of nearly 15% to a manageable level around
2.6%. This recovery was largely driven by the RBIs stringent
Asset Quality Review that tightened norms for classifying bad loans, alongside the governments comprehensive 4R framework Recognition, Resolution, Recapitalisation, and Reforms, which together strengthened the foundation of the banking system. Further support came from improved recovery strategies, proactive provisioning, and greater operational efficiency, all of which contributed to resilient bank balance sheets.
Meanwhile, the microfinance sector experienced mounting difficulties in 2024. Prolonged heatwaves adversely impacted rural incomes, leading to a decline in borrowers ability to repay loans. Compounding this was the spread of rumours regarding loan waivers, which disrupted repayment behaviour. As a result, the proportion of overdue microfinance loans in the 31-to-180-day category doubled from 2.15% in March to 4.30% by September. Additionally, the issue of borrower over-indebtedness intensified, with
5.8% of clients holding loans from four or more lenders, up from 3.6% in 2021. These emerging vulnerabilities were highlighted in the RBIs Financial Stability Report, indicating the need for close supervision and timely corrective measures in the microfinance segment.
Credit and Deposit Growth
As the calendar turned to 2025, Indias banking system showcased a substantial increase in deposit mobilisation, with funds rising by 10.83% year-on-year to Rs.221.50 Trillion. This uptick highlights growing public trust and an inclination towards saving in formal financial institutions amid shifting economic landscapes.
Meanwhile, credit demand continued to accelerate at a faster pace, expanding by 11.47% to Rs.178.01 Trillion within the same timeframe. This widening gap between lending and deposits has sparked caution among policymakers, as it pressures banks liquidity positions.
Navigating this divergence will require banks to strike a delicate balance capitalising on strong credit growth to support economic activity while maintaining adequate liquidity buffers. Innovative funding strategies and more competitive deposit offerings may become essential tools for banks to sustain their lending momentum without compromising financial stability.
Net Interest Margin
Indias recent policy rate cuts are poised to slightly compress banks Net Interest Margins (NIMs), even as the RBI works to ease liquidity pressures. In FY 2024-25, despite a tight liquidity environment that pushed up deposit costs, the sector maintained a solid NIM of 3.45%, down marginally from 3.6% the previous year.
The RBIs proactive liquidity management measures, including open market operations and short-term funding interventions, have helped ease pressures since the beginning of 2025.
3. REVIEW OF BUSINESS SEGMENTS AND OPERATIONS
RBL Bank operates across multiple business verticals, which include:
1. Wholesale Banking
Corporate and Institutional Banking (C&IB)
Commercial Banking (CB)
2. Branch Banking and Retail Liabilities (BBRL)
3. Retail Assets
4. Treasury and Financial Markets Operations
Wholesale Banking
This business segment caters to corporates and other entity clients across industries offering a diverse range of financial solutions across multiple sectors and regions.
There are specialised relationship verticals within wholesale banking based on commonality of clients:
1. Corporate Banking catering to corporates with turnover greater than Rs.1,500 Crore (greater than Rs.2,000 Crore for Mumbai and Delhi).
2. Commercial Banking catering to SME clients and other corporates with turnover of Rs.2,000 Crore.
3. MNC to meet requirement of multinational companies.
4. Supply Chain Financing group to meet requirement of dealers and vendors connected to corporate, commercial, and MNC clients.
5. Financial Institution Group for meeting requirements of financial institutions, NBFCs, mutual funds, PE/VC, AIFs and partnering with domestic and international banks.
6. Government Banking Group to meet requirement of central and state departments and public sector undertakings.
7. New Economy Group to meet business needs of start-ups.
The Wholesale Banking vertical has specialised services for industries such as capital markets, gems and jewellery, real estate, and infrastructure. The Bank has specialised units to provide Digital Banking, Trade and Cash management, Treasury Solutions, and Investment Banking Services to Wholesale Banking clients. The focus of this vertical is to become the preferred partner of its clients for routing their day-to-day transactions. This extends not only to the entity flows but also enables the Retail Banking franchise to offer its suite of products including deposit accounts, investments, and cards, among others, to employees of these organisations.
Wholesale Banking provides an extensive portfolio of products and services to meet client needs:
A. Funding solutions including working capital, term loans, supply chain financing, export financing in both rupee and foreign currency. These funding solutions are offered both out of RBL Bank branches in India as well as the unit set up in GIFT City.
B. Trade Facilitation through bank guarantees, letter of credit, and Standby Letter of Credit (SBLC).
C. Treasury solutions for hedging foreign currency and risk management.
D. Deposit products like term deposits, savings deposits and current account including Vostro accounts for international banks.
E. Digital Banking Services to facilitate collection and payment.
F. Cash Management Services including bespoke Escrow Solutions, Dividend Services, CSR Accounts, Share Application and QIP Monitoring Accounts.
G. Collection of all central direct and indirect taxes. H. Investment Banking Services (M&A and Private Equity). I. Insurance and Investment proposition for clients.
J. Bespoke Salary Account proposition for employees of corporates under coverage.
K. Authorised Dealer services to enable cross border transactions.
Additionally, the segment actively promotes retail product cross-selling and distribution of insurance and mutual funds. The Financial Institutions team facilitates inter-bank dealings, long-term bilateral borrowing and trade finance support, while the Government Banking team prioritises liability mobilisation, empanelment with states and PSUs to facilitate flows between the government and the Banks client base, and the expansion of digital banking channels.
IFSC Banking Unit (IBU), GIFT City
The International Financial Services Centre (IFSC) branch, situated in GIFT City, Gujarat, functions as an overseas branch operating under a distinct international jurisdiction. The IFSC unit is leveraged to support the funding needs of our clients subsidiaries and joint ventures set up overseas.
This strategic setup enables the Bank to tap into global business opportunities, including capital market activities and servicing NRI accounts.
Regulated by the IFSC Authority, the IFSC branch mobilises foreign currency deposits and bank borrowings, which are then utilised to extend funding, loans, bank guarantees, trade finance solutions, derivatives, forex hedging, cross-currency products, and other financial market solutions to domestic and international corporate clients. Maintaining the Banks
The IFSC branch also caters to the requirements of IFSCA regulated entities that are set up at GIFT City.
underwriting standards, the branch actively participates in foreign syndicated loan transactions while offering treasury services for currency and interest rate hedging, expanding its offerings for global clients. For domestic clients, it provides credit facilities through External Commercial
Borrowings (ECB) and Trade Credit (TC) facilities. The IFSC Branch also caters to the requirements of IFSCA regulated entities that are set up at GIFT City by offering bespoke digital solutions.
Key Highlights
Negative credit cost for FY 2024-25
Authorised dealer for the first cross-border reverse merger deal under revised regulatory framework
Commercial Banking
The Commercial Banking division provides integrated financialsolutions to Small and Medium Enterprises (SMEs) and Mid-Market Enterprises (MMEs), with annual revenues between Rs.50 Crore and Rs.2,000 Crore. This segment brings a partnership approach to meet the growth ambitions of emerging and dynamic companies aspiring to become large conglomerates of tomorrow. The Bank aims to fuel their development and enable them to unlock new business potential through tailored financial products and strategic support.
This division provides working capital finance, trade finance (LCs, buyers credit, export finance, invoice discounting), term loans for capex, ECBs through the IFSC branch at GIFT City, advisory for M&A/PE, underwriting and loan syndication, cash management and foreign exchange services.
It aims to be the dominant player for all transaction banking requirements of clients to achieve superior returns on capital invested. The unit has deep expertise in transaction-intensive sectors and offers differentiated financial solutions. In addition, it focusses on leveraging relationships with larger corporates to strengthen ties with suppliers and distributors through dealer and vendor finance.
Key Highlights
The Commercial Banking advances registered a growth of 29% year-on-year.
Achieved 22% growth in deposits in FY 2024-25.
Fee Income grew by 34%.
Expanded to five new locations during the year.
Transaction Banking
The Bank has significantly expanded its Transaction Banking (TB) business, achieving robust growth across various verticals. The division services clients across multiple domains for their trade and cash management needs including receivables and payables management, imports, exports, NACH customised prepaid cards, corporate tax payments, and tailored cash management and liquidity solutions among others.
Core fees from Transaction Banking recorded a strong
30%+ year-on-year growth, further supported by revenues from upselling and cross-selling efforts.
Key Highlights
1. Expanded the Central Taxes offering by going live on ICEGATE 2.0 (new platform for Customs Duty payment).
2. Expansion of partnership with NeSL to cover the entire life cycle of BG, i.e., Issuance, Amendment,
Cancellation and Invocation through Electronic Bank Guarantee (e-BG).
3. TradeX (Online Trade) platform enhanced to include additional offering for both domestic and GIFT City clients like H2H file transfer, bulk approval, and GIFT
City Outward remittance module.
4. First-of-its-kind reverse merger cross border deal in a changed regulatory environment.
Digital Payments
Through digital payments, the Bank enables third-party businesses, fintechs, and startups to integrate banking services directly into their platforms via APIs, offering seamless and scalable financial solutions to their customers.
The Bank has created a specialised Digital Payments division dedicated to leveraging cutting-edge payment platforms through flexible APIs. This team focusses on expanding the Banks footprint in prepaid issuance, merchant acquiring (including POS, e-commerce, and collection services) and last-mile remittances facilitated by business correspondents. Additionally, it champions an open banking framework that enables streamlined payment and collection services via a wide range of API integrations.
In recent years, the Bank has played a pioneering role in developing sector-specific digital solutions, spanning payment APIs, various prepaid models (self-issued, partnership, escrow), merchant acquiring partnerships, collection mechanisms through nodal accounts, Fx
Remittances (RDA and LRS) and Unified Payments Interface
(UPI).
The Banks collaboration with fintech innovators has fostered a sophisticated digital ecosystem, delivering enhanced B2B services. Its standout capability lies in crafting customised transaction journeys that meet the precise requirements
The Bank has created a specialised Digital Payments division dedicated to leveraging cutting-edge payment platforms through flexible APIs.
of clients and end users, while maintaining stringent compliance with regulatory and security standards.
The division is committed to promoting an open banking environment where clients can access the Banks platforms and data to optimise operational efficiency and accelerate processes. The offerings continue to evolve, integrating comprehensive liability and asset management features, and placing significant focus on deepening engagement through cross-sell opportunities within the existing client base.
Notable Open Banking Numbers
In FY 2024-25, the Bank processed approximately Rs.3,075 Billion worth of transactions via API payment channels, reflecting a robust growth of 5%. The Banks API payment processing capability reached a peak of ~2 Million transactions per day during the year, with an average daily API hit of ~1.2 million transactions.
National Common Mobility Card (NCMC) + Prepaid Cards
The Bank issued Mass Transit System Cards, also known as National Common Mobility Cards (NCMC), a major milestone in its digital and transit-focussed payment initiatives. The Bank undertook a significant ramp-up of the platform which was successfully completed in April 2025. The advanced system enables seamless onboarding and issuance of NCMC cards outside traditional Metro station premises, removing the dependency on fixed infrastructure.
The device supports multiple functionalities, including card issuance, loading, service area creation, and balance updates, delivering a full-service solution for mobility-linked prepaid payments.
The partnership with BMRCL is a landmark achievement for the Bank and underscores its joint commitment to enhancing the daily commuting experience through digital innovation. The Namma Metro Card provides nationwide interoperability, enabling commuters to travel seamlessly across any metro system in India with a single card.
What sets this initiative apart is its potential to take
NCMC cards to the masses. By enabling distribution at supermarkets, shopping malls, corporate parks, office complexes, colleges, universities, exhibitions, public gardens, and recreational and sports venues, the Bank has significantly expanded access well beyond traditional bank branches and transit hubs.
The Bank has also introduced Multi-Wallet Card with a corporate expense management solution for modern business. This empowers corporates to manage expenses digitally, securely, and with greater transparency. By digitising the expense lifecycle, this solution eliminates manual intervention and reduces administrative burden.
Inward Remittance Automation Project
The Bank has successfully implemented an automation project for inward remittances by integrating its workflow with core banking systems through API connectivity. This automation removes manual data entry and duplicate system operations, resulting in an 80-90% Straight-Through Processing (STP) rate and saving approximately 10 minutes per transaction. The project significantly reduces processing time and errors.
Backed by a resilient digital infrastructure, the Bank now supports around 2,500 Transactions Per Second (TPS) for high-volume merchants, demonstrating its ability to manage large digital payment volumes with speed and reliability.
Moreover, in FY 2024-25 RBL Bank pioneered the launch of
UPI Circle, an innovative feature by the National Payments Corporation of India (NPCI). It empowers a primary UPI and bank account holder to delegate the authorisation to a secondary user to make UPI transactions with defined . spend limits. Highlighting its agility and digital-first approach, the Bank developed and rolled out this facility within just one month, unveiling it at the prestigious Global Fintech Festival. Additionally, by leveraging NPCIs plugin service, the Bank launched an in-app UPI payment feature for its client Dream11. This service allows Dream11 users to make seamless transactions within the app, enhancing customer convenience and engagement.
Some Notable Digital Initiatives
UPI Plug-in Software Development Kit (SDK) (UPI Single Click) – The Plug-in SDK is provided to large UPI online merchants for collecting payments from customers. The Plug-in SDK removes multiple app hopping and enables the merchant app to provide an inline (single click) payment experience for users.
UPI TPAP SDK The Bank has developed an SDK which enables fintechs to provide service as Third-Party
Application Provider (TPAP) through NPCI. Fintechs can integrate the Banks SDK on their application and allow their users to avail the UPI service on the app.
RBL Bank is one of the first banks in the country to implement the Beneficiary Account Name Lookup (BANL)
RBL Bank pioneered the launch of UPI Circle, an innovative feature by the National Payments Corporation of India (NPCI).
facility through NPCI, both a Beneficiary and Remitter Bank for Fund Transfer transactions, complying with RBIs recent guidelines on the same subject. This enhancement allows customers to verify the beneficiarys name before initiating fund transfers, thereby reducing errors and potential fraud.
The Bank launched Bharat Bill Payment Systems (BBPS).
Escrow services for its partners and is live with non- bank Bharat Bill Payment Operating Unit (BBPOU) EBIX
Payments Services Private Limited. This development now positions the Bank to provide settlement services for non-bank BBPOUs.
The Bank also partnered with RIO Money to provide Third
Party Application services (TPAP) with a unique customer offering leveraging the use of any RuPay Card.
Expanding Ecosystem and Collaborations The Bank has expanded its footprint by supporting merchant solutions including the migration of Paytms Point of Sale (PoS) terminals, and collaborating with PhonePe to widen its digital payments reach. Partnerships such as the CRED PPI escrow arrangement further deepen its role in the fintech landscape.
Large Partnerships & Collaborations
RBL Bank-OCL (Paytm) Partnership: The partnership between RBL Bank and OCL for PoS migration marked a significant step in its digital payment growth. This partnership has enabled over 5 Lakh PoS machines, allowing customers to receive funds through RBL
Bank.
RBL Bank-Adyen Partnership: RBL Bank is the first bank to partner with Adyen for acquiring settlement services. This deal means that any business operating on the Adyen platform, which includes major customers like Uber, Netflix, Spotify etc., will now have access to the Banks suite of payments solutions. With this relationship, the Bank is strengthening its presence in Indian as well as international markets.
RBL Bank PhonePe Partnership: The Bank has collaborated with PhonePe as the third bank for providing acquiring services in e-commerce space.
RBL Bank Amex Collaboration: RBL Bank is now engaged with Amex, a global acquirer and payment network.
RBL Bank Cashfree PA-CB: The Bank has entered into an agreement with Cashfree for Payment Aggregator
Cross Border (PA-CB) transactions to settle funds outside India towards imports of goods/services. The Bank will open Import Collection Accounts (ICA) for licensed PA-CB entity for settlement of funds.
RBL-Pinelabs-Telangana Government: As part of government banking initiative, the Bank has collaborated with its acquiring Payment Aggregator partner Pinelabs to provide payment gateways (PG) services to Telangana Technology Services Limited. The collaboration is a customised solution provided to the government for PG collections via Payment Aggregator escrow and refund solution.
Merchant Acquiring
RBL Bank holds a strong position in Indias merchant acquiring landscape, processing an annual transaction value of US$ 26.73 Billion. The Bank provides acquiring services to over 2 Million merchants, reinforcing its pivotal role in the countrys digital payments ecosystem.
Foreign Remittance Corridor Partnerships
The Bank has processed around ~4.3 million transactions with a value of ~Rs.27,000 Crore. In FY 2024-25 through the Rupee Drawing Arrangement (RDA – Inward) and the Liberalised Remittance Scheme (LRS – Outward). The
Bank partners with leading Exchange Houses to provide seamless inbound and outbound remittance services.
By leveraging its strong digital infrastructure, the Bank is well equipped to address the growing demand in the cross-border outward remittance market alongside these partners. The co-developed solution is comprehensive, integrating all electronic payment channels into a unified, single window interface that significantly benefits the customers of the Exchange Houses.
Built by the Bank, the remittance engine is a scalable, flexible, and API-driven platform that effortlessly integrates with partner systems, delivering a smooth and efficient remittance experience. This innovative collaboration highlights the Banks commitment to pioneering tailored digital solutions in the global payments arena.
The Bank has partnered with Dandelion Payments Inc.
(RIA Money), a leading global remittance service provider, to facilitate foreign inward remittances under the Rupee Drawing Arrangement (RDA). Through this partnership, RIA
Money customers will be able to send funds from abroad to beneficiaries in India. These funds will be processed under the RDA system, enabling real-time credit to the beneficiaries bank accounts.
Looking forward, the Bank is committed to revolutionising its user interface and overall customer experience through a comprehensive overhaul of its technology infrastructure. To accelerate this transformation, it has crafted a versatile framework that provides integration kits for fintech partners and seamlessly embeds banking, particularly payment services, into digital engagements via APIs. At the core of this vision is a steadfast dedication to building a secure, scalable, and future-proof platform. This robust foundation empowers the Bank to roll out cutting-edge products and continually refine its service delivery, ensuring it stays aligned with evolving customer expectations.
Branch Banking and Retail Liabilities (BBRL)
The Bank provides a comprehensive suite of products through its BBRL segment, supported by a multi-channel electronic banking ecosystem encompassing Mobile
Banking, Internet Banking, Phone Banking, WhatsApp Banking, and ATMs. Its branches have evolved into Universal Bank Branches that offer a broad spectrum of products, including retail asset products, liabilities, and digital services. This marks a significant shift from the earlier model, where branches were primarily focussed on liability business alone. Continued efforts were made to optimise the branch network, alongside the launch of focussed initiatives aimed at enhancing the in-branch client experience.
Deposit Profile and Granularisation
The branches are strategically focussed on driving steady and granular growth in deposit accretion. Currently, Branch Banking accounts for 67% of the Banks Total Deposits. The
Term Deposit (TD) portfolio below Rs.3 Crore experienced robust year-on-year growth of 22%.
Assets and Liabilities Cross-sell
Cross-sell plays a pivotal role in building steady growing balances from quality customers. The Bank has achieved significant success in asset cross-selling through its BBRL unit, which now contributes 16% of disbursements in Home Loans and 26% in Loan Against Property (LAP). Every branch actively participates in the sale and sourcing of asset products, driving cost efficiency, enhancing productivity, and fostering stronger customer loyalty.
Digital Engagement Channels
Digital banking embodies the Banks progressive vision, harnessing advanced technology to elevate customer satisfaction and redefine industry standards. The Banks digital services have significantly strengthened digital client engagement, contributing to the success of the granularisation of deposits strategy.
MyBank
The RBL MyBank app empowers retail banking customers to access over 200 products and services through a user-friendly and secure platform.
Recent enhancements include the ability to mark Positive
Pay for cheques, enable ‘Tap & Pay functionality for debit cards, and access payments to more than 21,000 billers on the go. Furthermore, the MyBank platform has been upgraded to accommodate customers with only asset relationships such as Home Loans, Loans against Property, Personal Loans, Used Car Loans, and Two-Wheeler Loans enabling them to register and access a broader range of banking services and products. This expansion significantly broadens the Banks digital reach, allowing more customers to benefit from its growing suite of digital offerings.
Diplomat App
The RBL Diplomat app, is specifically designed for customers in the Diplomatic segment. It enables foreign currency transactions and offers specialised services tailored to the unique requirements of this clientele, all within a highly secure environment.
BizBank
The RBL BizBank app is a mobile solution tailored for corporate customers, enabling them to initiate and approve transactions anytime, anywhere. The app now also supports beneficiary management, enhancing convenience and control on the go.
Retail Internet Banking (RIB)
RIB, the Banks web-based platform, delivers a seamless and secure internet banking experience. It has recently been enhanced with integration to tax payment portals, enabling customers to conveniently make direct tax, GST, and customs duty payments through a single interface. RBL Cares
This AI-powered virtual banking assistant serves as a convenient digital support channel, enabling customers to perform critical tasks such as blocking or reissuing cards and resetting PINs for both Credit and Debit cards.
By integrating these services within the chatbot, the Bank ensures that customers can manage key card-related issues swiftly and securely anytime, anywhere without the need to visit a branch or call customer care. Corporate Internet Banking (CIB)
CIB is a web-based platform designed for the Banks current account holders and corporate entities. It offers features such as the maker-checker facility for payments, online tax payments, and the ability to invest in Sovereign Gold Bonds all accessible through a single, convenient interface.
WhatsApp Banking Services
RBL Banks WhatsApp Banking service (at 84335 98888) offers convenient access to 13 different banking services directly through its WhatsApp channel. Customers can effortlessly retrieve details such as their Customer ID (CIF), Credit Card reward points, and the nearest branch or ATM locations. Additionally, NRI customers can receive their internet banking OTPs via WhatsApp, enhancing convenience and security for overseas users. This service significantly boosts customer engagement by providing instant and easy access to essential banking solutions.
Additional Services on Digital Channels
National Payments Corporation of India (NPCI) Initiatives
Round-the-clock UPI services through the NPCI network, enabling customers to make seamless individual and merchant payments via the MyBank app by scanning UPI QR codes. The Bank is officially certified by NPCI provide these services, which extend to all utility payments, enhancing convenience and accessibility.
Demonstrating strong digital adoption, approximately 95% of applications are submitted through eASBA.
eASBA Facility
The Banks Application Supported by Blocked Amount (ASBA) facility empowers customers to submit bid applications for IPOs, Rights Issues, FPOs, and NFOs, while continuing to earn interest on their CASA balances until allotment is confirmed. Demonstrating strong digital adoption, approximately 95% of applications are submitted through eASBA. With the Bank processing the highest number of applications in the year, it reflects the success of its seamless digital experience.
Tax Payments
RBL Bank facilitates GST and Direct Tax payments through both its Internet Banking platform and branch network. The Bank went live on TIN 2.0 in April 2023, processing tax payments worth approximately Rs.4,882 Crore in FY 2024-25.
The Bank also has in place GST payment services, handling payments totalling around Rs.3,790 Crore in FY 2024-25.
Beyond enhancing customer engagement, these tax payment services have also introduced a new revenue stream for the Bank.
Segments and Servicing
RBL Bank has strategically structured its customer base into three distinct segments, Insignia, Signature, and
Aspire, to cater to diverse financial needs with precision and personalised care. This segmentation underpins a robust relationship and service led model.Insignia Preferred
Banking, the Banks premium offering provides a high-touch client experience through a network of financial advisors focussed on HNIs. It provides dedicated Relationship Managers and Service Managers across more than 400 branches, delivering a comprehensive suite of solutions spanning personal and business banking, investments, insurance, forex, trade, and lending. Each programme within the segmentation is tailored to offer a consultative and highly personalised customer experience. to Notably, 68% of the Banks Branch Banking book by value is actively managed by Relationship Managers, one of the highest ratios in the industry, underscoring the Banks strong emphasis on relationship-led service.
Debit Cards
RBL Bank offers a comprehensive portfolio of Debit Cards, each thoughtfully developed to address the distinct needs of various customer segments. Whether an individual is an HNI, a salaried professional, a woman entrepreneur, or an SME owner, there is a card tailored to align with their financial lifestyle and aspirations. The range includes:
Insignia Preferred Banking, Signature Banking, Aspire Banking, Enterprise, Signature+, Pinnacle, Crest, VISA
Platinum, VISA Classic, Business First, Platinum First,
Womans First, India Startup Club, GO, Next, Titanium, and RuPay Debit Cards.
For individuals who frequently transact overseas, RBL Bank enhances value by offering 0% markup on international transactions (swipe and e-commerce) with select premium cards such as Insignia Preferred Banking, Enterprise, and
Signature+.
With this diverse selection, RBL Bank empowers every individual and business with seamless, rewarding, and globally connected banking solutions.
Key Highlights
1. This fiscalyear marked the introduction of three new Debit Cards, each designed to serve a distinct customer segment:
Next Debit Card - Empowering the salaried segment
It offers a blend of lifestyle privileges, digital-first features, and seamless banking experiences, aligning with the aspirations of the modern workforce.
Finja Debit Card - Financial Literacy for the Next Generation
It is designed specifically for the age group of 10–17. This offering encourages early financial independence and responsible money management, providing young users with a secure banking experience.
Business First Maestro Card-Tailored for Current
Account Holders
It is designed for entrepreneurs and small business owners holding current accounts. It offers enhanced transaction limits, business-friendly features, and convenience for day-to-day commercial banking needs.
2. Enhancing Customer Empowerment through Self-Service Card Controls:
Self-service card management features introduced across digital platforms, enabling customers to control Tap and Pay, card activation, transaction limits, and channel preferences.
3. Increased Engagement and Usage:
The Bank observed a rise in Debit Card usage and customer engagement, driven by campaigns, value-added features, and seamless integration with digital banking platforms.
Specialised Online Digital Remittance Platform under LRS
RBL Bank has established a robust digital remittance platform under the Liberalised Remittance Scheme (LRS), offering customers a fast, secure, and cost-effective way to send money overseas. The platform enables seamless transfers in 16 international currencies, with simplified documentation, highly competitive forex rates, and some of the lowest charges in the market. In a move that reinforces its customer-first approach, the Bank does not levy additional processing fees on education-related remittances, strengthening its position as a preferred partner in the education remittance segment.
Further strengthening its international banking capabilities, the Bank also provides a suite of outward remittance products such as foreign currency issuance, travel cards, demand drafts, and standard outward remittance services. With this comprehensive and digitally enabled offering already in place, the Bank continues to deliver on its promise of accessible and affordable global financial solutions.
Insurance
The Bank has partnered with seven leading insurance providers to offer a broad spectrum of insurance products, covering life, health, and general insurance needs. These partners include HDFC Life Insurance, Bajaj Allianz Life Insurance, ICICI Prudential Life Insurance, Bajaj Allianz
General Insurance, ICICI Lombard General Insurance, Aditya
Birla Health Insurance, and Care Health Insurance.
As part of its digital transformation journey, the Bank has launched the first phase of its Digital Bancassurance
Platform, focussing on assisted customer journeys. This phase aims to simplify and digitise the insurance purchasing process, making it more convenient and accessible for customers. Looking ahead, the Bank is set to introduce a comprehensive 360-degree insurance service platform that will offer a holistic, integrated experience, from product discovery to post-sale services, further strengthening customer engagement and service delivery in the insurance space.
Investments
RBL Bank, through its ‘Invest First++ digital platform, offers a comprehensive suite of investment solutions in collaboration with leading mutual fund houses. Customers canaccessawiderangeofproducts,includingMutualFunds, Portfolio Management Services (PMS), and Alternative Investment Funds (AIFs). A key feature of this platform is its integrated 3-in-1 account, combining an RBL Bank savings account, a trading account with IIFL Securities Limited (enabling equity and other financial instrument trading) and an RBL Bank Demat account for holding securities in digital format. This seamless integration simplifies the investment journey and enhances the customer experience.
As part of its digital transformation journey, the Bank has launched the first phase of its
Digital Bancassurance Platform.
To support this, the Bank has successfully migrated its
Wealth Management System (WMS) across all branches, resulting in improved operational efficiency and enhanced service delivery. Further strengthening its digital investment ecosystem, the Bank enabled Sovereign Gold Bond (SGB) subscriptions via its Corporate Internet Banking (CIB) platform, mobilising Rs.88 Crore in SGB-related income.
Through its alliances with leading mutual fund and PMS providers, the Bank has enhanced its market penetration and expanded its investment product offerings, providing customers with access to a diversified portfolio aligned with their financial goals.
Important Channels and Client Segments Non-Resident Indians (NRI) Segment
RBL Bank offers a dedicated relationship management model complemented by best-in-class rates and digital-first platforms to deliver a seamless and hassle-free banking experience for NRIs. The Banks NRI customer base is steadily expanding across key regions including the GCC countries namely the US, the UK, Singapore,
Hong Kong, Canada, and Australia. Reflecting this, the NR Granular deposit book grew by 18%, underlining the Banks successful focus on this important customer group.
Diplomats
RBL Banks Diplomatic segment caters to a wide range of clients, including embassies, high commissions, consulates, and various divisions such as trade, defence, cultural, education, and tourism as well as UN and international organisations and diplomats across India. It stands out as the only Bank in the country with a dedicated and experienced team operating pan-India, supported by an exclusive mobile app and a tailored product suite specifically designed for this segment.
The Bank is a key player in this space, serving over 96 diplomatic missions & 96 divisions in Delhi, 41 consulates,
32 divisions, 3 Hony Consuls, and more than 2,100 diplomats from over 153 countries across major cities including Delhi, Mumbai, Chennai, Kolkata, Hyderabad,
Bangalore, Thiruvananthapuram, and Pondicherry.
Trusts, Associations, Societies, and Clubs (TASC)
The TASC business plays a vital role in driving the Banks overall deposit growth, recording a robust increase of MEB- 22% and MAB-25% during FY 2024-25.
Start-Up Club
This is a dedicated channel designed to serve the start-up ecosystem by providing cutting-edge technology solutions through comprehensive API stacks, along with strong support from incubators and accelerators.
Secured Loan Programmes
RBL Bank has successfully established several new business lines, including Two-Wheeler Loans, Used Car Loans, Education Loans, Gold Loans, Affordable Home Loans, and Small Loan Against Property (LAP) products. With a strategic focus on semi-urban and rural markets, the
Bank continues to introduce targeted offerings tailored to these segments.
To capitalise on its branch network and customer base, the
Bank has realigned its distribution strategy, significantly reducing dependence on Direct Selling Agents (DSAs) for sourcing secured loans.
Supporting small and medium enterprises, the Bank provides secured financing options such as LAP and collaborates with NBFCs to co-lend secured business loans. Additionally, it offers working capital financing through its branch network, delivering a comprehensive suite of financial solutions for business customers.
Business Banking Group (BBG)
The Bank supports MSMEs in meeting their working capital and capital expenditure requirements primarily through sole banking arrangements, delivered via its branch network across various cities. Key products include Cash Credit,
Overdraft, Term Loans, Export Credit, Bill Discounting, Letters of Credit, Bank Guarantees, and more, with facilities secured against primary securities and collateral. It also employs robust monitoring mechanisms to maintain the asset quality of its portfolio.
Housing Loans
RBL Bank continues to strengthen its position in home ownership across varied customer segments. The Affordable Housing Loan segment remains central to the
Banks inclusive finance agenda. In line with the ‘Housing for All objective, the Bank has expanded its footprint into Tier II and III markets, targeting first-time home buyers through need-based loan products. It continues to leverage its branch network to offer home ownership solutions and drive growth in the housing loan portfolio.
Credit Cards
The Bank provides cards tailored for lifestyle, travel, cashback, and rewards, catering to both salaried professionals and business customers. With attractive benefits such as exclusive merchant partnerships, reward points, easy EMI options, and contactless payment features, the Bank aims to deliver enhanced convenience and value. It leverages digital platforms to enable seamless application and card management, ensuring a smooth customer experience. Additionally, the Bank continually innovates its Credit Card offerings to stay competitive and meet evolving consumer preferences.
The strategy for the Credit Card business is to build a strong franchise by acquiring high-quality customers with potential for deeper, multi-product engagement, while improving profitability through more predictable credit outcomes. The priority firmly is quality over quantity.
Credit Card Products
The Credit Card suite is categorised into customer-centric segments to address varied spending behaviours and financial needs, as detailed below:
| Credit Cards for Millennials |
| Cookies |
| Credit Cards for Mass Consumers |
| Shoprite |
| Platinum Delight |
| Credit Cards for Mass Affluent Consumers |
| Platinum Maxima |
| Platinum Maxima Plus |
| World Safari |
| Icon |
| Credit Cards in partnership with key brands/fintech |
| PaisaBazaar Duet+ |
| BankBazaar Save Max Pro |
| Play |
| SalarySe |
| IRCTC |
| IndianOil |
| IndianOil Xtra |
| TVS Credit |
| TVS Credit Gold |
| DMI Finance |
| Patanjali Vishisht |
| Patanjali Swarn |
| Credit Cards for Premium Segment |
| iGlobe |
| Insignia Preferred Banking |
| Products for Commercial Clients |
| T&E Gold |
| T&E Platinum |
| Purchase Procure+ |
| Purchase Tax+ |
| RazorpayX Corporate T&E |
| RazorpayX Corporate Purchase |
Co-Brand Partnership Update
The Bank is accelerating its growth in the Credit Card ecosystem through a dynamic portfolio of co-branded partnerships across the Fintech, Consumer, and NBFC landscape. These strategic alliances are designed to deliver personalised, value-driven financial solutions that resonate with the evolving lifestyles and preferences of diverse customer segments.
Within the Consumer segment, the Banks partnership with BookMyShow continues to offer entertainment-centric benefits, while a recently launched alliance with Indian Oil
Corporation Limited (IOCL) brings value to everyday fuel spends. Additionally, new collaborations with established Indian brands such as Patanjali Ayurved Limited and IRCTC are set to introduce niche offerings tailored to wellness-conscious and travel-savvy consumers.
On the NBFC front, the Bank has further strengthened its presence by initiating partnerships with TVS Credit Services Limited and DMI Finance Private Limited, enhancing accessibility for underserved and emerging customer segments.
Commercial Cards Programme
Re-launched in January 2024, the Banks Commercial
Cards programme continues to gain strong traction in the corporate payments landscape, with a focus on deepening wholesale relationships, enhancing yields, and acquiring new strategic clients. The Bank has also forged a landmark co-brand partnership with RazorpayX.
Growth Roadmap for FY 2025-26
The Banks Credit Card portfolio continues its strong and profitable growth trajectory, driven by expansion into new geographies and the development of customer-centric products. Strategic partnerships are being deepened further to augment customer engagement and strengthen ecosystem integration. RBL Bank is investing in digital solutions to consolidate its position in the digital banking landscape. This high-margin growth strategy underpins the Banks commitment to sustainable and profitable expansion in the Credit Cards business.
Key Highlights
First private bank to launch RuPay Credit Card with NCMC and UPI functionalities
New co-branded Credit Cards launched in partnership with IRCTC & Indian Oil Corporation Limited (IOCL)
Rural Vehicle Finance
Rural Vehicle Finance business plays a vital role in supporting the agricultural and rural economy by offering specialised loan products for new and used tractors, harvesters, and other essential farm equipment. The Bank primarily caters to small and medium farmers, evaluating creditworthiness through income assessments and bureau scores, and ensuring coverage across key tractor and farm equipment markets.
The Bank has built a strong distribution network with over 3,500+ channel partners across 13 states, including new tractor dealers, Direct Selling Agents (DSAs), online partners, and local influencers. It has established a live customer base of over 79,500 in just five years.
To provide rural customers with a banking experience at par with their urban counterparts, the Bank has implemented a robust digital lending platform. This platform enables fast, transparent, and hassle-free loan processing, with minimal documentation and approvals and disbursements typically completed within 24 hours of application. Through these efforts, the Bank continues to drive financial inclusion and rural empowerment by delivering accessible, efficient, and timely credit solutions.
Microfinance
RBL Banks microfinance segment plays a crucial role in advancing financial inclusion across rural and semi-rural areas, with a strong focus on underserved communities that have limited access to traditional banking services. The
Bank primarily serves women borrowers, offering collateral-free credit to support income-generating activities and micro-enterprises, fostering economic independence and entrepreneurship.
In addition to credit facilities, the Bank provides a suite of essential financial services, including savings accounts, as well as life and general insurance products, designed to offer financial security and stability to low-income households.
The Bank also conducts regular financial education programmes aimed at enhancing financial literacy and equipping women with the knowledge and confidence to make informed financial decisions.
The Banks comprehensive strategy meets the urgent financial requirements of its microfinance clients and enhances their long-term quality of life by promoting self-sufficiency and nurturing entrepreneurial capability among rural women.
Treasury and Markets
The Treasury and Markets division at RBL Bank encompasses a broad range of activities, including domestic market operations, treasury sales, debt capital markets, and bullion trading.
Domestic Markets
RBL Banks Domestic Markets Group plays a pivotal role in managing the Banks daily liquidity and ensuring regulatory compliance. It oversees the maintenance of critical statutory ratios, including the Net Stable Funding Ratio (NSFR), Liquidity Coverage Ratio (LCR), Statutory Liquidity Ratio (SLR), and Cash Reserve Ratio (CRR). Operating within a well-defined risk and investment framework approved by the Board, the group also undertakes proprietary trading in interest rates, equities, and foreign exchange markets. The last financial year saw a smooth transition to the new RBI investment circular guidelines.
Securities Trading
The Bank operates a dedicated proprietary trading desk focused on interest rate instruments. This desk actively trades in government securities, corporate bonds, and interest rate swaps, leveraging market insights and strategic positioning to enhance returns within the Banks approved risk framework. During FY 2024-25, the rates market experienced increased volatility due to fluctuations
The Bank has built a strong distribution network with over 3,500+ channel partners across 13 states, including new tractor dealers, Direct Selling Agents (DSAs), online partners, and local influencers.
in CPI inflation data, crude oil prices, currency, geopolitical tensions, surge in US treasury yields, etc. Even though the external risks remained prevalent, the rates market in
India remained favourable due to significant inflows from foreign investors, reduction in budgeted fiscal deficit for FY 2025-26, softer inflation forecast for CY 2025, significant liquidity infusion by the Reserve Bank of India through Open
Market Operations in government securities among other measures. The 25 basis point reduction in the policy repo rate also contributed to this environment. As a result, the 10 year benchmark government bond yield eased by 47 basis point during the year and closed at 6.58% at end of the financial year. The Banks trading desk took advantage of the volatility in fixed income markets, robust listings in equity primary markets, and managed proprietary positions appropriately, leading to healthy trading profits.
Liquidity Management
The Bank remains firmly committed to maintaining robust liquidity and adequate contingency buffers, particularly in response to the relatively tighter liquidity conditions within the banking system. Over the year, the Bank secured funding through a carefully curated mix of liability sources, demonstrating strategic agility in managing its balance sheet. A consistently healthy LCR was maintained, supported by a balanced approach that combined long-term granular deposit mobilisation with rupee borrowings through refinancing arrangements with various financial institutions. These efforts have further strengthened the
Banks liquidity position and overall financial stability. In addition, the Bank continued to actively use derivatives to hedge interest rate risk arising from its asset and liability profiles, ensuring prudent risk management across its operations. The Bank also placed strong emphasis on growing granular deposits and successfully reduced the concentration of its top 20 depositors to below 14%, down from over 17% previously.
Capital Markets
The Capital Markets team provides comprehensive services across debt capital markets (DCM), loan syndication, and structured finance (SF) distribution. Working closely with asset managers, insurance companies, banks, and investors, the team gains a deep understanding of client requirements. They originate transactions and facilitate the efficient sell-down of underwritten deals, ensuring seamless execution and distribution.
Debt Capital Markets (DCM)
The DCM desk provides advisory services to large and mid-sized corporate issuers seeking to raise debt finance through capital markets. The teams key activities include structuring, underwriting, and distributing a wide range of financial instruments such as bonds, loans, and asset-backed securities. These offerings are marketed to a diverse investor base, including NBFCs, mutual funds, insurance companies, banks, and wealth management clients. During the year, the Bank securitised ~Rs.1,030 Crore worth of short-term personal loans by issuing Pass Through Certificates which saw investment interest from large banks.
Structured Finance and Debt Syndication
The Debt Syndication and Structured Finance business has built a strong reputation for its loan distribution capabilities. The team successfully manages a range of debt issuances for mid-sized corporate clients, offering a diverse suite of financing solutions that include working capital loans, structured term loans, infrastructure finance, and funding for both greenfield and brownfield projects.
Backed by well-established relationships across the financial ecosystem including public and private sector banks, Non-Banking Financial Companies (NBFCs),
Development Financial Institutions (DFIs), Infrastructure Debt Funds (IDFs), and other key stakeholders the team ensures efficient placement and execution of transactions. Additionally, it has played a significant role in building the Banks foreign currency loan portfolio through strategic contributions from the GIFT City branch. During the year, the Bank executed several transactions domestically by underwriting and participating in syndicated debt facilities, while also expanding its loan book at the GIFT City branch.
Foreign Exchange, Derivatives, and Bullion Business
The Banks Foreign Exchange and Derivatives desk offers a comprehensive suite of hedging solutions designed to help clients manage their foreign currency and interest rate exposures effectively. The product portfolio includes interest rate swaps, currency swaps, options, and both deliverable and non-deliverable currency derivatives. These solutions are tailored to support the risk management needs of a diverse clientele comprising corporate, institutional, commercial banking, and consumer banking customers, including both residents and non-residents. In FY 2024-25, the Bank went live with exotic options and introduced product variants in the non-deliverable space, both onshore and at the GIFT City IFSC, designed specifically for high-end clients with sophisticated risk management frameworks.
A team of experienced Treasury professionals provides expert advisory services, guiding clients on optimal risk mitigation strategies. Transactions undertaken by customers generate fee-based income for the Bank. While the central Treasury dealing room operates out of Mumbai, dedicated Treasury Sales professionals are strategically placed across major metro locations to ensure localised service and timely client engagement.
All derivative contracts executed with clients are supported by appropriate credit limits established within the Banks
Treasury systems, following thorough credit assessments. Each client transaction is simultaneously covered in the interbank market on a back-to-back basis to maintain risk neutrality.
In FY 2024-25, the Bank executed one of the largest hedge deals with a Non-Deliverable Swap for a large infrastructure company hedging a significant US Dollar External Commercial Borrowing (ECB). On the capital account side, apart from Foreign Direct Investments (FDI) and Overseas
Direct Investments (ODI), the Bank managed two complex reverse-flip deals for prominent unicorns in the Indian startup ecosystem.
RBL Bank is also one of the authorised institutions licensed by the RBI to import gold and silver. The Bank conducts its bullion business on a consignment basis, supplying to a wide base of domestic clients and playing a significant role in Indias bullion market. These imports are executed on a back-to-back model, with customer pricing reflecting the suppliers quoted rates along with applicable local levies such as customs duties. Income from wholesale bullion transactions is recognised upon settlement.
Additionally, the Bank participates in the bullion lending and borrowing market. It facilitates the import of gold under metal loan arrangements for domestic manufacturers and gold jewellery exporters. The interest earned or paid on such bullion-related activities is recorded as interest income or expense, respectively.
4. RBL BANKS FINANCIAL OVERVIEW
( Rs. in Crore)
| Particulars | FY 2024-25 | FY 2023-24 | % Change |
| Net Interest Income | 6,463 | 6,043 | 7.0 |
| Non-Interest | 3,806 | 3,043 | 25.0 |
| Income | |||
| Operating Revenue | 10,269 | 9,086 | 13.0 |
| Operating Expenses | 6,642 | 6,055 | 9.7 |
| Operating Profit | 3,627 | 3,031 | 19.6 |
| Provisions and | 2,959 | 1,779 | 66.3 |
| Contingencies | |||
| Profit Before Tax | 668 | 1,252 | -46.6 |
| Taxes | (27) | 84 | -132.1 |
| Profit After Tax | 695 | 1,168 | -40.5 |
Operating Revenue rose 13% YoY from Rs.9,086 Crore to Rs.10,269 Crore in FY 2024-25. Net Interest Income (NII) rose 7% YoY from Rs.6,043 Crore to Rs.6,463 Crore in FY 2024-25. Non-interest income, comprising fee income, trading income and other income, grew 25% YoY from Rs.3,043 Crore to Rs.3,806 Crore in FY 2024-25.
Operating expenses rose by 9.7% to Rs.6,642 Crore in FY 2024-
25 as the Bank continued its investments in expanding its distribution network, enhancing technology and scaling-up of existing retail products along with launching of new secured retail products.
Operating Profit grew 19.6% to Rs.3,627 Crore from Rs.3,031 Crore in FY 2023-24.
Total provisions and contingencies increased 66.3% YoY from Rs.1,779 Crore in FY 2023-24 to Rs.2,959 Crore in FY 2024-25.
The Bank reported a Profit After Tax of Rs.695 Crore for the year as compared to Rs.1,168 Crore in FY 2023-24.
Net Interest Income (NII) experienced a year-on-year increase of 7% from Rs.6,043 Crore in FY 2023-24 to Rs.6,463 Crore in FY 2024-25. NII accounted for 62.9% of the total Operating Revenue in FY 2024-25 against 66.5% in FY 2023-24.
During this period, the yield on interest earning assets decreased from 11.3% to 11.1%. Specifically, the yield on advances decreased by 49 bps from 14.0% in FY 2023-24 to 13.5% in FY 2024-25. The yield on investments increased by 11 bps during FY 2024-25.
Cost of funds increased by 25 bps from 6.4% in FY 2023-
24 to 6.6% in FY 2024-25. The Bank remained focussed on enhancing the contribution of Retail Deposits, improving the granularity and tenure of deposits, and maintaining robust liquidity levels. Due to the sustained interest rate environment, the cost of deposits increased from 6.2% last year to 6.5% in FY 2024-25.
CASA deposits witnessed an increase of 3.9% from Rs.36,449 Crore in FY 2023-24 to Rs.37,886 Crore in FY 2024-25.
Cash and balances with RBI were higher as the Bank was required to maintain higher CRR balance due to an increase in deposits balances.
Advances
*/*(Rs. in Crore)
| Particulars | As of March 31, 2025 | As of March 31, 2024 | YoY | % of Advances |
| Wholesale | ||||
| Banking | ||||
| Corporate | 25,187 | 25,725 | -2.1% | 27.2 |
| Banking | ||||
| Commercial | 11,728 | 9,115 | 28.7% | 12.7 |
| Banking (mid | ||||
| corporates and | ||||
| SME) | ||||
Wholesale |
36,915 | 34,840 | 6.0% | 39.9 |
Banking Total |
||||
| Retail Banking | ||||
| Credit Cards | 17,133 | 17,038 | 0.6% | 18.5 |
| Personal Loans | 3,245 | 3,888 | -16.5% | 3.5 |
| JLG loans | 5,752 | 7,511 | -23.4% | 6.2 |
| Business Loans | 11,162 | 8,161 | 36.8% | 12.1 |
| Housing Loan | 8,177 | 6,260 | 30.6% | 8.8 |
| Rural Vehicle | 2,754 | 2,221 | 24.0% | 3.0 |
| finance | ||||
| Others including | 5,971 | 2,347 | 154.4% | 6.4 |
| Gold Loans | ||||
| and OD, among | ||||
| others | ||||
| Retail Agri | 1,509 | 1,721 | -12.3% | 1.6 |
Retail Banking |
55,703 | 49,147 | 13.3% | 60.1 |
Total |
||||
Total |
92,618 | 83,987 | 10.3% | 100.0 |
Total Advances of the Bank as on March 31, 2025 increased
10.3% to Rs.92,618 Crore from Rs.83,987 Crore as on March 31, 2024, largely driven by growth in the commercial banking segment within wholesale banking, housing, business loans, rural vehicle finance and LAGO segments within retail banking.
Retail Advances comprised 60.1% of Total Advances and grew 13.3% to Rs.55,703 Crore, Wholesale Advances comprised 39.9% of Total Advances and grew by 6% to Rs.36,915 Crore.
Credit Cards remained the largest retail banking segment and accounted for 18.5% of Total Advances, followed by
Business Loans at 12.1%, Housing Loans at 8.8%, JLG loans at 6.2%, personal loans at 3.5%, Rural Vehicle Finance at 3.0%, retail agri 1.6%, and others (incl. LAGO, OD, among others) accounted for 6.4%.
Investments
(Rs. in Crore)
Particulars As of As on % Change
March 31, March 31, 2025 2024
Government 31,004 28,519 8.7 Securities
Debentures & 356 550 -35.3 Bonds Money Market/ 317 272 16.5 Equities/Mutual
Funds
Subsidiaries 145 145 –Others 343 90 281.1
Total 32,165 29,576 8.8
The investment portfolio of the Bank grew 8.8% to Rs.32,165 Crore. Investments in government securities, increased 8.7% to Rs.31,004 Crore.
Money market/equities/mutual fund investments increased
16.5% to Rs.317 Crore in FY 2024-25. As on March 31, 2025, the Bank classified 81.4% of the total government securities in the Held to Maturity category, and bonds and debentures portfolio was classified in the Available for Sale category.
Other Assets
Other Assets of the Bank as on March 31, 2025 decreased to Rs.8,806 Crore from Rs.9,920 Crore as on March 31, 2024, primarily on account of decrease in RIDF Deposits.
Liabilities and Shareholders Funds
| Particulars | As of March 31, 2025 | As of March 31, 2024 | % Change |
| Capital | 608 | 605 | 0.5 |
| Employee | 170 | 118 | 44.1 |
| stock options | |||
| outstanding | |||
| Reserves and | 14,829 | 14,073 | 5.4 |
| Surplus | |||
| Total Shareholders | 15,607 | 14,796 | 5.5 |
| Funds | |||
| Deposits | 110,944 | 103,494 | 7.2 |
| Particulars | As of March 31, 2025 | As of March 31, 2024 | % Change |
| Current Account | 17,928 | 18,393 | -2.5 |
| Deposits | |||
| Saving Account | 19,958 | 18,056 | 10.5 |
| Deposits | |||
| CASA | 37,886 | 36,449 | 3.9 |
| Term Deposits | 73,058 | 67,045 | 9.0 |
| Borrowings | 13,734 | 14,184 | -3.2 |
| Other Liabilities and | 6,440 | 5,958 | 8.1 |
| Provisions | |||
Total |
1,46,725 | 1,38,432 | 6.0 |
Shareholders Funds
Shareholders Funds of the Bank increased from Rs.14,796 Crore as on March 31, 2024 to Rs.15,607 Crore as on March
31, 2025, primarily on account of the profit reported by the Bank in FY 2024-25.
Deposits
The Total Deposits of the Bank increased by 7.2% to
Rs.1,10,944 Crore against Rs.1,03,494 Crore last year. Savings
Bank deposits reported a growth of 10.5% to Rs.19,958 Crore, while Current Account deposits reported a decrease of 2.5% to Rs.17,928 Crore. Overall, CASA deposits increased to Rs.37,886 Crore, and constituted 34.15% of Total Deposits as compared to 35.2% last year.
Borrowings
The total borrowings of the Bank decreased 3.2% from
Rs.14,184 Crore in FY 2023-24 to Rs.13,734 Crore in FY 2024-
25, primarily on account of borrowing from the Bank and
Borrowings outside India are offset by increase in borrowing from other institutions and agencies.
Capital Management
The Bank ended FY 2024-25 with a robust capital position. Its overall Capital Adequacy Ratio (CAR) under Basel
III stood at 15.54% at the end of the year, well above the benchmark requirement of 11.50% stipulated by the RBI.
Of this, the Common Equity Tier I (CET I) CAR was 14.06% (against minimum regulatory 8.00%) and Tier I CAR was 14.06% (against regulatory requirement of 9.50%). As on
March 31, 2025, the Banks Tier II CAR under Basel III stood at 1.49%.
The following table sets forth the capital, Risk-Weighted Assets and Capital Adequacy Ratios computed as on March 31, 2025 and March 31, 2024 in accordance with the applicable RBI guidelines under Basel III.
| Particulars | As on March 31, 2025 | As on March 31, 2024 |
| Total Risk Weighted Assets And | 1,04,831 | 98,630 |
| Contingencies (Rs. in Crore) | ||
| Total Capital Adequacy Ratio (%) | 15.54% | 16.18% |
| Of which | ||
| Common Equity Tier I Capital | 14.06% | 14.38% |
| Ratio (%) | ||
| Tier I Capital Ratio (%) | 14.06% | 14.38% |
| Tier II Capital Ratio (%) | 1.49% | 1.80% |
| The movement in capital position for FY 2024-25 was as below: | ||
| Particulars | As on March 31, 2025 | CRAR (%) |
| Capital Position as of | 15,958 | 16.18 |
| March 31, 2024 | ||
| Increase due to Profit in | 695 | 0.66 |
| FY 2024-25 | ||
| Others* | (358) | (0.34) |
| Decrease on Account of | (0.96) | |
| Consumption in FY 2024-25 | ||
| Capital Position as of | 16,295 | 15.54 |
| March 31, 2025 |
*The Bank has prudently used its contingency provision to create specific provisions against the SMA of its JLG Loan book.
5. RISK MANAGEMENT (FY 2024-25) Risk Report
Risk management is a vital pillar that underpins the
Banks strategic and operational decision-making. It has established a robust Risk Management Framework that encompasses key elements such as a clearly defined risk taxonomy, which categorises and standardises various risk types; a well-articulated risk appetite that guides the level of risk the Bank is willing to accept; a strong risk culture that promotes awareness, accountability, and ethical behaviour across all levels; and a structured risk governance mechanism that ensures oversight and compliance through dedicated committees and leadership involvement. This comprehensive approach enables the Bank to proactively identify, assess, and manage risks while fostering stability, resilience, and sustainable growth.
Risk Taxonomy
RBL Banks risk taxonomy provides a structured classification of the various types of risks that may impact its business operations. This framework considers both external factors, including macroeconomic trends, disruptive technologies, ESG considerations, climate-related risks, legislative developments, and regulatory changes, and internal factors such as workforce capabilities, operational processes, IT systems, balance sheet composition, product offerings, client profiles, reputational aspects, and organisational behaviour. To stay ahead of potential threats, the Bank has established robust processes to continuously identify, analyse, and classify emerging risks, ensuring timely and effective risk mitigation strategies are in place.
Three Lines of Defence Model
The Bank follows the widely accepted three lines of defence model to ensure clarity and accountability in its risk management practices. This structure distinctly separates the roles of risk ownership, oversight, and independent assurance.
The firstline of defence comprises Business and Credit
(underwriting team) who are directly responsible for managing risks within the defined risk appetite.
The second line includes specialised Risk and Compliance teams that establish the Risk Management Framework, policies, and monitoring mechanisms to support and guide the frontline.
The third line of defence is the Internal Audit function, which provides independent evaluation of the effectiveness of the
Banks risk governance, internal controls, and adherence to regulatory and policy requirements. It also collaborates with external auditors and regulatory bodies to ensure comprehensive oversight.
Risk Appetite
Risk appetite defines the extent of risk RBL Bank is prepared to undertake in alignment with its strategic objectives and growth ambitions. The Bank adopts a moderate risk profile, which is periodically reviewed to ensure it remains appropriate in the evolving business environment. The Board of Directors is responsible for approving the Risk Appetite Statement, which outlines acceptable risk thresholds and serves as a foundation for strategic planning and decision-making. The Chief Risk Officer (CRO) plays a key role in supporting the Risk Management Committee of the Board (RMCB) by implementing risk management practices that reflect the Banks scale and complexity. While the CRO is responsible for identifying and escalating significant or emerging risks to senior management and the Board, they do not possess transactional approval authority. The status of the Banks risk appetite, including any breaches, corrective actions, trends, and forward-looking assessments, is reviewed by the Executive Risk Committee, RMCB, and the full Board, ensuring strong oversight and accountability.
The Bank adopts a moderate risk profile, which is periodically reviewed to ensure it remains appropriate in the evolving business environment.
Risk Culture
The Bank has built a strong institutional foundation to embed risk awareness and compliance into its organisational DNA, emphasising that managing risk is a shared responsibility across all levels. To support this, the Bank has adopted a
Target Operating Model Framework, aimed at addressing credit concentration risks and advancing a risk-based approach tied to internal credit ratings for origination, underwriting, and portfolio management. This model aligns with the Banks target risk profile and incorporates clearly defined risk appetite thresholds, tolerance levels, and Key Risk Indicators (KRIs) across business lines, customer segments, and product categories. These risk parameters are reinforced through ongoing employee engagement efforts such as training programmes, internal communications, and awareness campaigns. Additionally, management KPIs are aligned with these initiatives, fostering a culture where proactive risk management and compliance are recognised as core components of individual and collective performance.
Risk Governance
Risk Management Committees
The RMCB plays a central role in overseeing the Banks risk management architecture. It is responsible for formulating the Banks risk policies, frameworks, and strategies to effectively monitor and mitigate a wide spectrum of risks, including credit, market, liquidity, interest rate, concentration, operational, compliance, third-party, reputational, cyber, in and other emerging risks. The RMCB ensures that risk governance remains aligned with regulatory expectations and the Banks strategic goals. To support this mandate, the RMCB is backed by a suite of specialised executive committees that provide focussed oversight and execution.
These include the Executive Risk Committee (ERC), Management Credit Committee (MCC), Asset Liability Management Committee (ALCO), Product Approval Committee (PAC), Operational Risk Management Committee (ORMC), Retail Risk Management Committee (RRMC), Compliance Implementation Committee (CIC),
Environmental & Social Risk Governance Committee (ESGC), and the Information Security Steering Committee (ISSC). These bodies ensure a coordinated and comprehensive approach to risk identification, assessment, and control across the Bank.
RBL Bank has established a comprehensive risk oversight structure through a network of dedicated committees, ensuring effective governance across all dimensions of risk. The Operational Risk Management Committee (ORMC) and the Retail Risk Management Committee (RRMC) report to the Executive Risk Committee (ERC), which is entrusted with the overall supervision of the Banks enterprise-wide
Risk Management Framework. The ERC ensures alignment with the Banks risk appetite, formulates the Risk Appetite
Statement, and evaluates the adequacy of policies, credit standards, prudential limits, and risk procedures.
In parallel, the Board Investment and Credit Committee (BICC) oversees treasury investment performance and approves credit and investment proposals as per the
Banks credit policy. The IT Strategy Committee of the Board governs the Banks IT roadmap and cybersecurity posture, supported by the Information Security Steering Committee (ISSC), which ensures robust information security governance.
Several executive committees complement this structure with domain-specific focus:
The Management Credit Committee (MCC) executes the Banks credit policy across retail and wholesale banking.
The Asset Liability Management Committee (ALCO) manages market, liquidity, and interest rate risks and oversees pricing strategies.
The Product Approval Committee (PAC) evaluates and approves new products and reviews existing offerings.
The Compliance Implementation Committee (CIC) monitors and guides regulatory compliance.
The Environmental and Social Risk Governance Committee (ESGC) ensures implementation of the environmental and social risk framework.
These committees form a robust governance ecosystem, fostering coordinated risk oversight, informed decision-making, and strategic alignment across the Bank.
Risk Management Policies
The Banks Enterprise Risk Management (ERM) policy is grounded in industry best practices and sets the foundation for the Banks approach to responsible risk-taking and comprehensive risk management. Central to this framework are the Risk Appetite Framework and the Internal Capital Adequacy Assessment Process (ICAAP), and a robust Stress Testing mechanism, all of which support informed decision-making and financial resilience. To ensure holistic oversight, the Bank has established a suite of specialised policies addressing various operational and risk domains.
These include the Liquidity Risk and Asset Liability Management (ALM) Policy, Credit Policy, Investment Policy, Market Risk Policy, FX and Derivatives Policy, and the Liquidity and Contingency Plan. Additionally, the Bank enforces frameworks such as the Customer Suitability and Appropriateness Policy, Internal Control Policy, Recovery Policy, KYC and AML Policy, Operational Risk Management Policy, Risk-Based Internal Audit Policy,
Penal Charge Policy, Sustainability Policy, Cybersecurity Policy, Collateral Management Framework and Information Security Management Policy. Together, these policies ensure compliance with regulatory requirements while fostering operational integrity, risk resilience, and long-term sustainability.
Risk Management System
The Bank has implemented a comprehensive framework for the communication of risk-related information through a well-structured Management Information System (MIS). This system delivers timely and accurate insights to senior management and risk committees via detailed dashboards and reports. These reports present portfolio-level risk aggregates across key domains such as Credit Risk, Market
Risk, Operational Risk, Liquidity Risk, and Interest Rate Risk, enabling informed and proactive decision-making. The MIS outputs are regularly reviewed by the Board of Directors, the RMCB, and various executive risk committees, ensuring continuous oversight and alignment with the Banks risk appetite and strategic goals.
Risk Mitigation
Capital Adequacy Risk
The Bank maintains a robust capital adequacy position, ensuring that its capital ratios consistently exceed the minimum regulatory requirements. This strong capital base supports the Banks ability to absorb potential losses, sustain growth, and safeguard the interests of depositors and stakeholders.
Credit Risk
Credit risk arises when a borrower or counterparty fails or is unwilling to fulfil their financial obligations, leading to potential losses for the Bank. These losses may result from defaults, delayed repayments, failed trading settlements, or declines in collateral value. RBL Banks credit policies clearly define sanctioning and monitoring procedures tailored for both Wholesale and Retail loan segments, with distinct credit origination and appraisal processes for each.
In the Wholesale segment, the Bank operates under a Board-approved delegation of financial powers, ensuring that all credit approvals are authorised by designated authorities or committees. To manage concentration risks, such as counterparty exposure, borrower groups, and tenor, the Bank has implemented a Target Operating Model (TOM), which segments clients based on internal risk ratings and other relevant risk metrics. An independent Internal Credit Rating (ICR) function supports this by providing unbiased credit ratings, enabling more accurate and consistent creditworthiness assessments for decision-makers.
For the Retail segment, credit risk assessment relies on standardised product programmes and automated approval processes. The Bank vigilantly monitors credit concentrations across single borrowers, borrower groups, industries, geographies, and product categories. Regular portfolio reviews are conducted for both segments to ensure proactive risk management and portfolio health.
Market Risk
The Bank manages market risk through a set of Board-approved policies, including the Investment Policy, Market Risk Policy, FX and Derivatives Policy, and the Customer Suitability and Appropriateness Policy. The Market Risk
Policy comprehensively identifies risk factors arising from Treasury operations and sets clear limits at both the individual position/product level and the overall portfolio level, aligned with the Banks defined risk appetite. The
Investment Policy outlines the types of permissible investment instruments and establishes prudential exposure limits across various categories. To support effective market risk management, it has invested in robust systems and risk management processes, ensuring strong infrastructure for monitoring and controlling market risk exposures.
Liquidity Risk
The Bank places paramount importance on managing funding liquidity risk, recognising it as a critical component of its overall risk framework. It has established a robust Liquidity Risk and Asset-Liability Management (ALM) policy that integrates RBI regulations with leading industry to standards. It actively maintains the LCR well within prescribed limits to ensure ample liquidity buffers. In addition, the Bank employs proactive short-term liquidity monitoring and contingency planning measures to swiftly respond to changing market conditions. The Board-approved Contingency Funding Plan (CFP) sets out clear strategies and protocols to effectively manage liquidity crises, including scenarios involving sudden cash outflows or market disruptions, thereby reinforcing the Banks financial stability and resilience.
Compliance Risk
The Bank has put in place a dedicated and autonomous compliance function to rigorously manage compliance risks throughout the organisation. The Chief Compliance
Officer maintains a direct reporting line to the Audit Committee of the Board, highlighting the importance of compliance at the highest governance level. It adopts a firm stance of zero tolerance towards any breaches, embedding strict adherence to regulatory and internal policies within its Code of Conduct, which is mandatory for all employees at onboarding. Additionally, to safeguard market fairness, the Bank enforces a comprehensive insider trading policy that extends to Board members, staff, and their immediate family members. The responsibility for formulating and overseeing policies related to the timely disclosure of price-sensitive information lies with the Chief Investor Relations
Officer and Company Secretary, who works closely the Managing Director and CEO to ensure consistent compliance and transparency.
Cyber Security Risk
The Bank has developed a robust cybersecurity framework that encompasses comprehensive policies, procedures, and controls to effectively mitigate cyber risks across people, processes, and technology. Both the Cybersecurity
Policy and Information Security Management Policy have been formally approved by the Board, underscoring its commitment to safeguarding its digital assets. To further enhance resilience, the Bank maintains a well-structured
Cyber Crisis Management Plan that provides a clear strategic roadmap for preparedness, rapid response, and recovery in the event of a cyber incident, ensuring minimal disruption and swift restoration of operations.
Digital Risk
The Bank has established a dedicated Digital Risk function focussed on identifying and managing risks emerging from its digital transformation initiatives. This team conducts thorough reviews of Product Approval Committee (PAC) notes, Standard Operating Procedures (SOPs), Business Requirement Documents (BRDs), as well as analysing loss and fraud data. They also evaluate new business partnerships, provisions, customer complaints, and findings from internal audits to ensure comprehensive risk oversight.
Environment & Social Risk Management (E&S)
The Bank has embedded sustainability deeply into its core strategy, aligning environmental and social considerations with its broader business and risk management practices. The Environmental and Social Risk Governance
(ESG) Committee regularly updates the Board on key developments and oversight related to environmental and social risks. The Banks comprehensive ESG framework focusses on strategic goals such as developing innovative products that promote sustainability, integrating ESG risk assessments into all financing decisions, and raising awareness among clients and employees about responsible practices.
The Bank strictly excludes clients whose activities conflict with its ethical standards, guided by the IFC Exclusion
List, which filters out sectors like weapons manufacturing, certain alcohol and tobacco production, and gambling-related businesses. Environmental and social risk evaluation is an essential part of the credit appraisal process, following the International Finance Corporations (IFC) Performance Standards as a benchmark. Through detailed due diligence, including climate risk considerations, the Bank works closely with clients to identify, assess, and mitigate E&S risks. When significant issues arise, clients must implement a Corrective Action Plan (CAP) within an agreed timeline, which becomes part of their contractual obligations. The Bank continuously monitors these plans, ensuring accountability and progress towards sustainable and responsible financing.
Climate Risk
RBL Bank proactively incorporates climate-related risks into its E&S risk assessment framework by using a probabilistic tool to identify and evaluate physical risks from extreme weather events such as floods, droughts, storms, and landslides. This generates a risk score that helps businesses and credit teams flag and prioritise high-risk cases for closer monitoring. In addition to physical risks, the Bank carefully evaluates transition risks by identifying borrowers who are highly dependent on water or energy, sectors experiencing market pressures to shift towards greener practices, and supply chains vulnerable to climate-related changes.
In August 2022, RBL Bank became a proud supporter of the
Task Force on Climate-related Financial Disclosures (TCFD), adopting its comprehensive framework centred around governance, strategy, risk management, and measurement of targets. This initiative, backed by the Financial Stability
Board, enhances transparency in climate risk reporting.
The Bank has set up a specialised Environmental and Social expert group within its risk team that equips transaction
It adopts a firm stance of zero tolerance towards any breaches, embedding strict adherence to regulatory and internal policies within its Code of Conduct.
teams with practical tools and templates for thorough E&S due diligence. This group also reviews due diligence reports to ensure consistency and quality, while providing regular updates on E&S risk matters to Senior Management and the Board.
After extensive consultations and with the Boards approval, the Bank introduced a Coal Policy that caps exposure to coal-based thermal power generation, aiming to phase it out completely by FY 2033-34. Additionally, the Bank has imposed tighter limits on financing other high carbon-emitting sectors, including oil and gas, iron and steel, cement, aluminium, coal mining, and lime. Complementing these measures, the Bank has formalised a Carbon
Neutrality Plan targeting net-zero operational emissions by FY 2033-34.
RBL Bank has earned a CDP rating of C, which is in line with both the global and Asia regional averages for the Financial
Services sector. For a deeper dive into the Banks E&S Risk
Assessment approach, please see the Natural Capital section of this report.
Operational Risk
Operational risk arises from failures or weaknesses in internal processes, human resources, systems, or from external events. The Banks extensive use of technology makes it vulnerable to potential errors, fraud, or unexpected incidents that could result in financial losses. To manage these risks, the Bank has put in place an Operational Risk Management Policy that has received the Boards approval.
The Operational Risk Management Committee (ORMC) is responsible for developing and maintaining the ORM framework in line with this policy and overseeing all related activities. Key elements of the Banks operational risk management approach include:
A rigorous new product approval process to evaluate risks associated with new offerings
Conducting Risk and Control Self-Assessments
(RCSA/RCM) to test the design and operating effectiveness of relevant controls
Monitoring Key Risk Indicators (KRIs) to detect early signs of potential issues
Tracking operational loss events, including both actual losses and near misses
Managing control issues and implementing corrective measures promptly
Operational risk is measured through various metrics such as total gross operational losses, losses relative to capital , KRIs, and the aging of high-risk open actions. These metrics are tracked at the individual business unit and overall Bank level, ensuring alignment with the Banks defined risk appetite.
Model Risk
The Bank actively manages a diverse portfolio of retail and non-retail financial models under its Enterprise Risk
Management (ERM) Policy, leveraging these tools to drive informed and strategic business decisions. Understanding that models are simplifications of real-world scenarios, the Bank emphasises a blend of technical precision and expert judgement to ensure their effectiveness and relevance. To safeguard against model risk, the Bank has implemented a dynamic validation process that includes both initial and ongoing assessments. This process is governed by a dedicated Model Risk Management Committee, which acts as a centralised body reviewing all validation activities. The forum ensures transparency and rigour by scrutinising validation results before presenting findings to senior risk oversight committees, including the ERC and the RMCB. Furthermore, the Bank complements internal efforts with external validations for critical models such as credit ratings and ICAAP. The integration of the retail model validation group into this forum fosters a cohesive and consistent validation culture across all business lines, reinforcing the
Banks commitment to sound model governance.
Stress Testing
The Bank performs comprehensive stress testing across a broad spectrum of risk areas, including Credit Risk, Credit Concentration Risk, Market Risk, Interest Rate Risk in the
Banking Book, Operational Risk, Counterparty Credit Risk,
Liquidity Risk, Intra-Day Liquidity Risk. These exercises are crafted to evaluate the Banks resilience against severe yet plausibleadversescenarios,helpingtoidentifyvulnerabilities within its portfolio and risk framework. The outcomes from these stress tests are rigorously analysed by the ERC and subsequently reported to the RMCB every quarter, ensuring that senior leadership remains fully informed and equipped to make proactive risk management decisions.
Technology Adaptation Aid to Risk Management
The Bank leverages a suite of advanced digital tools to strengthen its risk management framework across key areas such as Regulatory Capital, Market Risk, Operational Risk, and Fraud Risk. Key initiatives include:
Advanced Data Analytics for Retail Banking: Utilising sophisticated analytics to enhance customer sourcing, streamline credit decision-making, and improve ongoing credit monitoring.
Independent Model Validation: All risk models undergo rigorous validation by a dedicated, independent team reporting to the Chief Risk Officer or by a specialised validation forum, ensuring robustness and reliability.
Proactive Early Warning System: This system scans publicly accessible data sources including external databases, stock market updates, regulatory disclosures, and news feeds to detect potential risk signals early, thereby supporting more informed credit decisions and continuous portfolio surveillance.
Machine Learning-Powered Predictive Models: By analysing transactional data from products such as current accounts, cash credit/overdrafts, letters of credit, bank guarantees, and cheque bounce history, these AI-driven models provide real-time insights. They play a crucial role in fraud detection across multiple channels, including ATMs, mobile banking, and internet banking.
Market Intelligence Unit (MIU): Established in response to Malegaon Committee recommendations, the MIU performs comprehensive pre- and post-onboarding evaluations of wholesale borrowers. This specialised unit enhances the Banks oversight of large-value exposures, helping mitigate potential risks effectively.
6. TECHNOLOGY
RBL Bank leverages advanced technology to fuel its digital transformation and enhance customer experience and internal capabilities. Through significant investments in advanced IT infrastructure, data analytics, artificial intelligence, and cloud computing, the Bank streamlines operations and develops innovative financial solutions. This technology-driven approach enables the Bank to offer seamless, secure, and personalised banking services across multiple digital platforms. Supported by a strong cybersecurity framework and a culture of continuous innovation, the Bank remains agile and well-prepared to meet evolving market demands and exceed customer expectations in the digital age.
Key Highlights of FY 2024-25 include: New Data Centre Inauguration
Marking a strategic advancement in its technological infrastructure, the Bank inaugurated a new Data Centre located in Mahape, Navi Mumbai. This centre is designed to boost operational efficiency, security, and system resilience,
. while optimising operational costs and supporting the
Banks sustainability goals.
Moving to the new data centre is a critical initiative that underpins RBL Banks commitment to technological excellence and customer-centric growth. This transition will empower the Bank to remain resilient, responsive, and future-ready.
Launch of Integrated Digital Banking Experiences
RBL Banks MyBank App is a unified platform combining retail banking and credit card services within a single application. It now includes access for customers with loan-only relationships such as home, personal, or vehicle loans enabling them to track their accounts and access products more efficiently.
For microfinance customers, the RBL Suvidha App, developed entirely in-house, supports digital EMI payments via UPI, displays insurance coverage, provides downloadable ‘No Due Certificates, and integrates with advanced threat detection tools to ensure secure usage.
Convenient Banking via Messaging
WhatsApp Banking channel offers services such as Form 15G/H submission, fixed and recurring deposit advice, and conversion of credit card transactions into EMIs, a feature that currently allows up to three transactions to be converted within the chat itself.
UPI and Digital Payments Innovation
With the development of its in-house UPI switch, the Bank has improved its transaction processing capabilities, supporting higher volumes and reliability. It has introduced new functions including Aadhaar OTP-based registration and PIN creation. The rollout of UPI Circle, a delegated payment model that allows one user to share account access with another, demonstrates a practical solution for shared spending. The UPI functionality is also made available for NRIs on their international numbers.
Common Loan Origination System (LOS)
RBL Bank consolidated its Loan Originating System (LOS).
The LOS is functional for RVF, Used Car, Two-Wheeler, and Agri products.
Intelligent Automation and Service Analytics
Technology is being used to elevate service quality across multiple touch points. Project Automagica, an AI-based initiative, analyses customer call recordings via speech-to-text to gain insights into interaction quality and resolution accuracy.
Automation has also streamlined operations, such as inward remittance processing, by connecting workflows directly to core banking systems, improving processing speeds and reducing manual error.
The Rendition Hub, the Banks central logistics unit, now features AI-enabled tracking of card deliveries and physical documents. This visibility has helped cut down on return-to-origin incidents and improved overall dispatch efficiency.
Data-Driven Risk Monitoring
Machine learning is actively used to assess potential credit stress and fraud. By analysing transactional patterns across current accounts, CC/OD activity, cheque usage, and trade instruments like LCs and BGs, the Bank is able to flag risks ahead of time. An Early Warning System, using external databases and public disclosures, strengthens monitoring and supports sharper credit decisions.
Robust Infrastructure and Internal Enablement
Tools like RBL Buddy, a digital guide for staff, enables real-time access to product specifications, rate comparisons, and key calculators, helping employees provide quicker and more informed support.
Strengthened Customer Security and Engagement
New features now allow customers to immediately block
Internet Banking access in case of suspicious activity. Clients also benefit from automated transaction alerts via
MIS reports, improving transparency and response times. The in-house eNACH solution, launched for rural vehicle finance, includes Aadhaar-based authentication for faster e-mandate registration.
With the development of its in-house UPI switch, the Bank has improved its transaction processing capabilities, supporting higher volumes and reliability.
OneRTB Team
Enabling Operational Resilience, Customer Excellence and ensuring system continuity OneRTB remains a cornerstone of Digital Banking, delivering excellence with a strategic focus on enhancing application stability and elevating customer experience. A robust, round-the-clock monitoring mechanism enables the OneRTB team to identify and address anomalies proactively. In the event of incidents, cross-functional bridges are swiftly mobilised to restore services with minimal disruption. This vigilant, structured approach ensures high system availability and faster recovery. The prompt response to technical challenges and seamless coordination with infrastructure and support teams have been instrumental in sustaining uninterrupted service delivery across systems. To ensure preparedness against unforeseen disruptions, the Disaster Recovery (DR) team has executed regular DR drills aligned with compliance mandates
Tech360: Efficient CRM Ticket Resolution
(Customer Complaints)
Through the Tech360 platform, OneRTB effectively manages CRM tickets raised by the contact centre. A structured ticket management workflow ensures timely triaging, resolution within agreed SLAs, and continuous monitoring of progress, enhancing customer experience and operational transparency.
Recognition and Achievements
RBL Bank was acknowledged at the IBA Banking Technology Awards 2024, winning accolades for AI/ML adoption, and receiving special mentions for IT risk management and digital innovation. Further recognition came at the Asset
Triple A Digital Awards 2025, where the Bank won for its projects on Inward Remittance API and Core Banking
System transformation.
7. OPERATIONS
Retail Operations
In the Retail lending space, the Bank simplified documentation processes and accelerated the digitisation of customer journeys, to improve overall customer experience and support its growth plans in the secured assets for Auto Loans, Gold Loans etc. RBL
Bank has implemented the Fair Practices Code across all retail offerings. The Bank further improved its information rendition capabilities by enabling customers to easily access loan statements and interest certificates through internet and mobile banking.
On the liability side, the Bank introduced a biometric
KYC process based on facial authentication through
UIDAI. Customer onboarding has been further simplified through the use of the Central KYC Registry (CKYCR). To consolidate its position in capital market products, RBL Bank launched a modern, robust in-house platform for processing Application Supported by Blocked Amount (ASBA) transactions.
Wholesale Operations
In its lending business, the Bank has implemented an in-house developed Alternative Reference Rates (ARR) calculator within the Core Banking System. RBL Bank has also extended the Fair Practices Code to all wholesale banking products. To expand the Banks presence in tax collections, RBL Bank worked closely with Central and State
Governments for the collection of both direct and indirect taxes.
The Banks wholesale operations continue to drive the adoption of digital solutions, notably the e-Bank Guarantee: a secure, centralised, and transparent alternative to traditional paper-based guarantees. RBL Bank was also the first to go live on InvoiceHub, a platform by IBDIC that verifies invoice authenticity and eliminates the risk of duplicate or fraudulent financing. With rising remittance volumes and values in India, the Bank introduced automation that has reduced processing time for inward and outward remittances to just a few minutes.
Credit Card Operations
The Bank has undertaken various initiatives to lower the cost of delivery, including straight-through processing, digitised customer journeys, and operational automation.
Customer onboarding has been further simplified through the use of the Central KYC Registry (CKYC). Customers can now track the delivery of their cards through an AI-powered credit card tracking feature recently introduced.
The Bank insourced collection operations from BFL. To build operational resilience, we have developed dual-site capabilities across Gurugram and Mumbai.
Other Support Functions: Product Approval and Process Management, Outsourcing Activities, Corporate Services
The Bank continued to strengthen product governance frameworks to support faster product launches. In FY 2024- 25, RBL Bank launched six new products across Vehicle
Loans, Prepaid and Commercial Cards, and offerings aligned with GIFT City. The Bank continues to focus on reviewing and strengthening the governance around financial outsourcing in line with regulatory guidelines.
The Bank continued to strengthen its presence in key markets and its focus on improving service delivery through modern infrastructure. A total of 18 new branches were opened across 12 states taking the total number of branches up to 560. RBL Bank also expanded operational capacity by adding 1,000 seats through the establishment of two new back-office centres. Additionally, six branches were relocated to improve business potential and better serve customer needs. As part of our accessibility enhancements, we upgraded signage and service infrastructure at select branches. In line with the Banks sustainability goals, RBL
Bank secured a Green Tariff electricity connection for our new back office in Navi Mumbai, enabling the use of renewable energy and supporting carbon reduction efforts.
The Bank also optimised the deployment of security personnel in line with the distribution of business activity, ensuring resource efficiency and safety.
8. HUMAN RESOURCES (HR)
The HR function plays a pivotal role in fostering a dynamic and inclusive workplace culture that aligns with the Banks core values of customer-centricity, integrity, and innovation.
By attracting, developing, and retaining top talent, the HR function supports the banks strategic objectives and ensures operational excellence. RBL Banks HR initiatives focus on employee engagement, continuous learning, and leadership development, aiming to build a high-performance culture. Through structured training programmes, performance management systems, and wellness initiatives, the HR team empowers employees to grow both personally and professionally, thereby contributing to the
Banks sustained growth and customer satisfaction.
People Development
The HR function is deeply committed to nurture talent and fostering a culture of continuous growth and innovation.
The Banks learning ecosystem is designed to enable employees at every stage of their career with accessible, relevant, and impactful development opportunities.
New Hire Integration
RBL Banks onboarding framework comprises of 30-60-90 day journey featuring two key programmes: Fit to Start and Fit to Serve.
Fit to Start helps acquaint the new joiners with the Banks vision, mission, values, and culture, laying the foundation for seamless integration. Fit to Serve builds on this with structured functional training, covering our products, policies, compliance, and buddy shadowing to ensure role readiness.
Campus-to-Corporate Programme
‘Campus-to-Corporate initiative continues to attract promising young talent from top-tier institutions. The management trainees at the Bank undergo a five-day immersive classroom experience, providing them with a holistic understanding of the Banks operations and values.
Digital Learning Modules
To support quick and effective learning, the Bank offers short, video-based modules on retail products through its internal LMS, Empower 2.0. These bite-sized sessions provide clear, practical insights into both Liability and of Asset offerings, helping employees easily understand key features, benefits, and value propositions.
Branch and Operations Training
To keep branch leadership and operations teams sharp, the Zonal Operations and Service Heads conduct regular refresher sessions for Branch Managers and Service
Delivery Managers. The Training and Development team at RBL FinServe has introduced dynamic ‘Demonstration sessions, an interactive approach that models best practices and operational techniques, particularly for Joint Liability Group (JLG) product training.
These sessions cover key topics such as product features, savings and insurance solutions, centre meeting protocols, verification guidelines, and member grievance resolution. The three-day Branch Managers Boot Camp further intensifies leadership development by transforming operational expertise into strategic leadership capabilities. The classroom workshops in Kolhapur and Mumbai have also equipped branch teams with enhanced customer service skills, attuned to evolving customer expectations.
Read. Reflect. Grow. With Apna Library
In collaboration with Klib, Indias leading corporate library, the Bank provides employees access to ‘Apna Library, a curated collection of books aimed at fostering continuous learning and personal development.
Talent and Succession Planning
Talent and succession planning is a strategic priority focussed on building a robust pipeline of skilled leaders and high-potential employees capable of driving growth and innovation in a dynamic financial landscape. By identifying and nurturing internal talent, the Bank fosters a culture of continuous development that aligns employee aspirations with organisational goals. Through comprehensive assessment tools and tailored development programmes, the Bank prepares individuals for critical and leadership roles, minimising leadership gaps and ensuring business continuity. The ‘Developing Executive Edge workshop, led by a Harvard Business School scholar, recently concluded its second cohort, engaging leaders from Delhi-NCR and Chandigarh. This high-impact, experiential programme sharpens executive presence, hones social and influencing skills, and prepares leaders to deliver exceptional business results with confidence.
Employee Rewards & Recognition RBL Bank runs a well-structured Rewards and Recognition (R&R) programme aimed at honouring exceptional employee performance. This programme is periodically reviewed by department heads alongside the Human Resources team, focussing on continuous improvement and setting ambitious new goals. Among its notable formats is a half-yearly Rewards and Recognition cycle, which keeps motivation and acknowledgment ongoing. Going Extra Mile (GEM) Awards
A standout programme within the Banks recognition framework is the ‘Going Extra Mile (GEM) Awards. This scheme acknowledges employees who exceed expectations by going above and beyond their duties.
Peer Recognition through the Kudos Platform RBL Bank encourages peer-to-peer recognition through its
Kudos platform, which enables employees to appreciate one anothers efforts.
Recognition for Specific Contributions and
Participation
The Bank goes beyond formal performance metrics by recognising diverse contributions, including participation in internal cultural events such as World Poetry Day, where winners are publicly celebrated. Initiatives like Apna Library reward avid readers, while customer testimonials spotlight employees who deliver exceptional service.
CEO Awards
The Bank has consistently fostered a performance-driven reward culture, with its flagship annual R&R event serving as a prestigious celebration of excellence across the Bank.
Leading up to a grand Awards Ceremony held in August on the Banks Foundation Day, a comprehensive R&R process is conducted to identify and honour outstanding employees across multiple categories.
Diversity and Inclusion
The Bank champions diversity and inclusion as core pillars driving its growth and innovation. Recognising that a diverse workforce brings a broad spectrum of ideas, experiences, and perspectives, the Bank actively fosters an environment where every individual feels valued and empowered.
Womens Leadership and Empowerment
The Bank is deeply committed to advancing womens leadership and empowerment. A targeted Leadership and Development programme aims to upskill women employees, enhancing their capabilities and career growth.
It prominently recognises the significance of its female workforce through the initiative.
Recognising the Power of Women Workforce of RBL Bank
On social media, the ‘Her Story series celebrates inspiring narratives of resilience, determination, and excellence from women employees who have significantly shaped the Banks journey.
Furthering its commitment to gender diversity, RBL Bank hosted an ‘Inclusion Insights session by connecting with employees on various platforms, gathering emerging women leaders from various departments. This interactive forum focussed on strengthening female representation and fostering an inclusive work environment.
The Bank also marked International Womens Day with 9. celebrations across the Bank and RBL FinServe and its pan-
India branches, honouring the invaluable contributions of women employees.
Fostering a Respectful and Inclusive Culture
The Bank actively promotes a workplace culture that values empathy and diverse perspectives in every interaction.
To support this, the Bank utilises the Respect at Work (RAW) workshop, a culture awareness and sensitisation programme designed to cultivate a positive, inclusive environment where collaboration thrives, and respect is paramount for all team members.
Celebrating Diversity and Cultural Inclusion
The Bank encourages cultural awareness and camaraderie among its employees by celebrating various festivals and events across its branches and RBL FinServe, which foster a spirit of unity and respect for diverse traditions.
Additionally, a vibrant jam session held at the Banks office showcased the talents of many employees from across Mumbai, further highlighting opportunities for rich and diverse employee engagement.
The Bank actively promotes a workplace culture that values empathy and diverse perspectives in every interaction.
Employee Well-Being
RBL Bank remains committed to fostering a holistic work environment that prioritises the physical and mental well-being of its employees. In FY 2024-25, the Bank conducted nine dedicated wellness initiatives aimed at promoting a healthier and more balanced workforce.
Key initiatives included a wellness camp organised at the
Controlling Office in Mumbai, which offered services such as eye check-up, BMI measurement, blood pressure and sugar testing, bone density scan, and general physician consultation. These health screenings enabled employees to proactively monitor their physical well-being. The
Bank also organised a webinar focussed on mental well-being, highlighting the value of emotional resilience and psychological health in todays work environment.
9. CORPORATE SOCIAL RESPONSIBILITY (CSR)
RBL Bank has consistently demonstrated leadership in
CSR, striving to make a meaningful and lasting impact on the communities it serves. With a firm commitment to the welfare and development of economically weaker sections, the Bank aligns its initiatives with the socio-economic development priorities of the nation.
Driven by a vision of creating sustainable communities,
RBL Bank focusses its CSR efforts on three core areas:
Health, Education, and Livelihood, collectively represented by the acronym H.E.L.O. These thematic pillars are central to the Banks mission of fostering inclusive growth and contributing to Indias progress towards the Sustainable Development Goals (SDGs).
The Bank collaborates closely with dedicated implementation partners to design and execute high-impact programmes, ensuring timely and effective support reaches beneficiaries. Its CSR strategy is designed to be systematic and outcome-oriented, guided by a comprehensive CSR policy that outlines key principles for project selection, implementation, monitoring, and impact evaluation.
The Banks CSR efforts are governed by a Board-level CSR
Committee, which formulates and recommends an annual action plan in alignment with the Banks policy and Ministry of Corporate Affairs (MCA) regulations. A dedicated CSR department oversees the administration and execution of these initiatives, ensuring compliance and alignment with the strategic vision.
The CSR & ESG Committee of the Board plays a critical role in approving intervention areas and programmes. For each initiative, detailed project proposals are developed, clearly outlining objectives, implementation modalities, monitoring mechanisms, and budgetary requirements. Transparent governance and robust monitoring systems are in place to evaluate the performance and social impact of the programmes, with regular updates and impact assessment reports shared with the Board.
Flagship Projects Executed by the Bank
Dhanvantri: Through this project, the Banks objective is to provide quality eye and health check-up services via mobile medical vans at the workplace, making preventive healthcare more affordable and accessible for underprivileged communities. To date, the Bank has reached over 42,000 domestic workers and support staff across 18 major Indian cities in India through doorstep health check-ups. This initiative aims to raise awareness about the importance of good health and address real-life healthcare challenges faced by people at the bottom of the economic pyramid, who often lack access to quality medical support.
Khwaish: As part of its commitment to inclusive healthcare, the Bank aims to ease the financial burden of female cancer patients from low-income backgrounds by supporting the cost of treatment and offering them a second chance at life. Nearly 500 women have been impacted through this initiative, generating significant social value by saving lives and reducing the strain on low-income caregivers. The
Bank has collaborated with four leading cancer treatment hospitals to facilitate solid tumour surgeries for women hailing from 18 states across India.
Shiksha: Recognising education as a key driver of empowerment, the Bank seeks to support the academic aspirations of deserving students from low-income families, helping them continue their studies and work towards self-sufficiency. Through this initiative, nearly 600 boys and girls across India have been supported in pursuing higher education and taking meaningful steps towards a secure and independent future.
Umeed: Through this project the Bank aims to support young school-going girls from low-income backgrounds to fulfil their educational dreams. The initiative empowers students by providing cycles and education kits, enabling them to continue attending school. So far, the Bank has supported over 5,000 girls across eight Indian states.
Other Projects
Sanjeevani: With a focus on strengthening healthcare infrastructure, the Bank aims to improve medical services in both rural and urban areas. Through this initiative, the
Bank supported service-oriented hospitals by providing fully equipped ambulances and medical vehicles, thereby expanding access to critical care. As a result, over 19 Lakh citizens in rural regions of India have gained timely access to emergency healthcare services.
Vaneekaran: As part of its commitment to environmental sustainability, the Bank is developing an urban forest to promote biodiversity and improve ecological balance.
Through this project, the Bank has planted and will maintain
8,000 saplings using various interventions such as a Pollinator Garden, Miyawaki Forest, State Tree Plantation, Medicinal Garden, Dense Plantation, and a Flowering and Fragrance Garden. All these elements are being integrated into a single space to create a vibrant mini biodiversity zone, enabling local flora and fauna to thrive. Located in
Navi Mumbai, the initiative also aims to improve air quality and provide a greener, healthier environment for nearby communities.
Shelter home for the Destitute & Orphans: Majha Ghar Foundation : To bring hope and a sense of security to orphaned, abandoned, and destitute individuals living on the streets, the Bank is supporting the Majha Ghar
Foundation in creating a safe and caring shelter. As part of this initiative, the Bank is contributing to the development of a 30-acre campus in Lonavala, Maharashtra, designed to accommodate approximately 3,000 destitute individuals.
This includes the construction of a dedicated 30-bed residential complex, offering dignified living conditions and a chance to rebuild their lives with respect and care.
10. CUSTOMER SERVICE Customer Service Excellence
The Customer Service unit is committed to nurturing a service-led culture where customer centricity is embedded in every interaction. This commitment is reflected across the Banks mission, design philosophy, and execution framework, ensuring that customer satisfaction remains a cornerstone of its operations.
Foundational Elements of Customer Service Philosophy
Mission
The Bank is dedicated to delivering a seamless and efficient customer experience by addressing needs promptly and effectively. This mission supports the development of long-term trust, loyalty, and accessibility.
Design Philosophy
All products, processes, and services are developed with a customer-first approach that resides on three pillars of being receptive, responsive and responsible towards its customers. The design framework ensures that customer satisfaction is not an outcome, but a fundamental input in all offerings.
Execution Excellence
Customer service delivery is facilitated through multiple engagement channels including branches, contact centres, email, mobile application, chatbot, WhatsApp banking, and social media. Service is underpinned by skilled, trained personnel, supported by continuous feedback mechanisms and ongoing improvements aimed at enhancing satisfaction.
Strategic Objectives of the Customer Service Unit
Strengthening Grievance Redressal Mechanisms
Aligned with the Banks strategic objectives, the grievance redressal process ensures fair and timely handling of customer concerns. Key focus areas include: Complaint Reduction: Root Cause Analysis (RCA) is conducted to identify and address gaps in processes, systems, or personnel, with the objective of reducing complaint volumes.
Timely Resolution: A structured approach to resolving issues within pre-defined Turnaround Times (TATs), with continuous efforts to improve timelines and service quality.
Internal Ombudsman Referral: All rejected or partially rejected complaints are automatically escalated to the Internal Ombudsman via the CRM platform, ensuring an added layer of fairness.
Quality Control Measures: Quality assurance is strengthened through enhanced oversight of resolution accuracy, communication clarity, and TAT adherence.
System Enhancements: Continuous upgrades to the
CRM system aim to streamline service workflows, improve ticket management, and support more efficient issue resolution.
Enhancing the Customer Experience
The Bank strives to deliver an intuitive and satisfying customer journey by focussing on the following areas:
Voice of Customer (VoC): Customer feedback is systematically captured through digital channels and branch-based QR codes. Insights are used to drive process, system, and service enhancements.
Technology Integration: The use of artificial intelligence, increased chatbot coverage, Straight-Through Processing (STP), self-service options, and omnichannel capabilities ensures consistency, accuracy, and ease of access.
Staff Training and Enablement: Frontline teams undergo regular and targeted training on product knowledge, service protocols, compliance, and customer handling. Training initiatives include online assessments, knowledge series, and real-time process updates, learnings from RCA and customer feedback.
Promoting Compliance and Service Governance
The Customer Service unit plays a pivotal role in ensuring adherence to regulatory frameworks and internal controls. Governance is maintained through:
Timely Policy Reviews: Periodic review and Board-level approval of customer service policies.
Standard Operating Procedures (SOPs): Clearly documented and consistently followed SOPs that guide service delivery across channels.
Regulatory Reporting: Accurate and timely submissions to meet statutory obligations.
Governance Forums: Regular conduct of Customer Service Committee meetings and oversight mechanisms to ensure continued compliance and service sustainability.
Advancing Customer Awareness and Protection
To safeguard customer interests, the Bank actively promotes awareness of emerging risks and financial best practices. Key initiatives include:
Fraud Awareness Campaigns: Public education campaigns delivered via branches, social media, SMS,
Email, and the Banks website to raise awareness of fraud prevention and secure banking.
Financial Literacy Initiatives: Literacy camps at rural branches are organised to enhance financial inclusion and understanding.
Thematic Engagements: Programmes such as
#FarzBantaHai and #ApnoKiBaat create awareness around critical topics including nomination, secure transactions, and transparency in banking relationships.
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
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