However, the number of transactions through the Unified Payments Interface (UPI) has seen a steady increase over the past one year. Data from GoKwik shows that 64% of all orders were placed via COD in Q2 2022, although preference for UPI has also increased by nearly 20% in the last one year.

The Tamil Nadu-based bank's Managing Director and CEO S Krishnan who recently assumed office said retail, agriculture and micro, small and medium enterprises (RAM) segments would be the focus areas as this vertical comprises 88 per cent of the bank's exposure.

The increase in the benchmark lending rates comes weeks ahead of the Reserve Bank of India's (RBI) monetary policy meeting, which is again expected to hike rates to tame inflation. According to the schedule, the next three-day monetary policy meeting will be held from September 28 to September 30.

Currently, the government holds 45.48 per cent in the bank, and Life Insurance Corporation of India, which is currently the promoter of the bank, owns a 49.24 per cent stake. The government, along with LIC, will decide on the quantum of stake that they will sell in IDBI Bank before seeking initial bids. The quantum of stake dilution is expected to be outlined in the EoI.

According to Crisil, this market share trend is unlikely to change in the near term. The recent merger between pure-play home financier HDFC with HDFC Bank will only bolster the trend, the agency noted.

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It was notified more than a year ago but so far only two insolvency cases have been initiated under this regime, available exclusively to micro, small, and medium enterprises (MSMEs). The Pre-packaged Insolvency Resolution Process (PIRP) has not found many takers as bank officials are wary of taking voluntary haircuts that may be questioned later.

Reliance Commercial owes creditors ₹9,017 crore. Authum has offered ₹2,207 crore - a 75% haircut for secured creditors - largely funded by internal cash reserves accumulated in the debtor and also some cash payment by Authum.

CBDT said in a detailed clarification that OTS or loan waiver by a bank will not be treated as a benefit or a perquisite and not face Tax Deducted at Source as they would have to bear the additional cost of tax deduction besides the haircut.