Banking & Financial Services

The Banking & Financial Services Research provides comprehensive analysis of ICRA-rated banks, NBFCs, brokerages, and insurance companies. The research on banks covers small finance banks including detailed banking statistics. For NBFCs, the research encompasses affordable housing finance, microfinance institutions, infrastructure-focused NBFCs, as well as retail and commercial finance NBFCs, along with housing finance statistics.

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Regular Research

Special Comments

Date	Sector	Reports	Category	Price
05 May 2026	General Insurance	Tailwinds support growth in challenging environment	Thematic Report
30 Apr 2026	Housing Finance Companies	AUM surpasses Rs. 10 lakh crore; performance likely to remain resilient despite macroeconomic and competitive pressure	Quarterly Update	--
30 Apr 2026	NBFC – Retail & Commercial Finance	Growth momentum to sustain at a range-bound pace in FY2027	Quarterly Update	--
27 Apr 2026	Financial Markets & Banking Update	Bond issuance rose sequentially in Q4 FY2026, bringing full-year volumes in line with ICRA’s estimates	Quarterly Update	--
24 Apr 2026	Life Insurance	Tailwinds support growth in challenging environment	Thematic Report
31 Mar 2026	Affordable Housing Finance	Portfolio growth to remain healthy notwithstanding some moderation; managing asset quality will remain crucial	Half-yearly Update	--
26 Mar 2026	Banking	Credit growth remains buoyant; geopolitical uncertainties cast shadow	Quarterly Update	--
25 Mar 2026	Life Insurance	Non-bank sponsored insurers gain share amid evolving distribution	Thematic Report
27 Feb 2026	Micro Finance Institutions	Asset quality shows signs of stabilisation; sector performance expected to improve in FY2027	Half-yearly Update	--
30 Jan 2026	Housing Finance Companies	HFCs lean on non-housing loans to protect margins and growth; earnings and growth likely to remain healthy during FY2026-FY2027	Quarterly Update	--
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Most Trending Research Reports

All-India electricity demand rebounds with onset of summer in FY2027

Power

15 May 2026

Healthy YoY retail and wholesale volume growth in April 2026

Passenger Vehicles

20 May 2026

Rising input costs amid West Asia tension to compress OPBITDA/MT to Rs. 820-870/MT in FY2027

Cement

20 May 2026

States may have to recalibrate their spending in FY2027 amid expected revenue shortfall

State Government Finance

21 May 2026

Impact across sectors is uneven, with entities adopting measures to manage and mitigate challenges

Cross-sectoral trends and outlook

25 May 2026

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Credit Perspective Reports

Credit Perspective Reports (CPRs) offer detailed rating analyses of over 1,500 investment-grade entities, covering both listed and unlisted companies. These reports provide in-depth insights into key rating drivers, making them valuable for benchmarking, understanding credit trends, and making informed investment decisions.

What's latest in CPR

AVR Swarnamahal Jewelry Limited
26 May 2026
H.G. Infra Engineering Limited
26 May 2026
Valvoline Cummins Private Limited
26 May 2026
Kapoor Industries Limited
26 May 2026
NTPC Limited
26 May 2026

Rating Rationales

Name	Email	Phone
26 May 2026	National Fertilizers Limited: Ratings reaffirmed
26 May 2026	Raghu Rama Rice Industry: Rating reaffirmed
26 May 2026	KEERTANA FINSERV LIMITED : Rating withdrawn for PTCs backed by a pool of micro enterprise loan receivables
26 May 2026	Swastik Tradelink Private Limited: Ratings Withdrawn
26 May 2026	Infina Finance Private Limited: [ICRA]AA+ (Stable) assigned to non-convertible debentures; ratings reaffirmed and rated amount enhanced
26 May 2026	Sree Kamakshi Raw And Boiled Rice Mill:Continues to remain under issuer non-cooperating category
26 May 2026	SPDD INFRA PRIVATE LIMITED:Continues to remain under issuer Non-Cooperating category
26 May 2026	Indraprastha Medical Corporation Limited: Ratings reaffirmed
26 May 2026	TRW Sun Steering Wheels Pvt. Ltd.:Continues to remain under issuer non-cooperating category
26 May 2026	TD Toll Road Private Limited:Continues to remain under issuer Non-Cooperating category