FE Best Banks Awards 2025: Home Minister Amit Shah is the chief guest at the ongoing FE Best Banks awards in Mumbai on Thursday (September 25). The event celebrates and honours India’s top-performing financial institutions, including banks, non-banking financial companies (NBFCs), small finance banks and fintechs. Shah also spoke with Shyamal Majumdar, Editor, Financial Express and Rishi Raj, Executive Editor, Financial Express. The discussion covered policy reforms and the Indian economy. Maharashtra Chief Minister Devendra Fadnavis is also among the dignitaries attending the ceremony.
Independent jury-led process
The winners have been selected by an independent jury chaired by S Ramadorai, former Vice-Chairman of Tata Consultancy Services. Other jury members include Dinesh Khara, former Chairman of the State Bank of India; Pradip Shah, Chairman of IndAsia Fund Advisors; Amit Chandra, Chairperson at Bain Capital; and Sharad Sharma, founder of iSPIRT.
Methodology
EY supported the evaluation process by compiling and validating three years of data sourced from the Reserve Bank of India. The selection is based not just on financial metrics but also on parameters such as corporate governance and innovation. Alongside recognising sector leaders, the awards also honour the best digital lenders and outstanding banking products.
FE Best Banks Awards Live: Lifetime Achievement Award
The Lifetime Achievement Award was conferred on Shyam Srinivasan, former MD & CEO of Federal Bank, for his remarkable contributions to the sector.
FE Best Banks Awards Live: Public Sector Bank of the Year
In the institutional categories, Bank of Maharashtra, under MD & CEO Nidhu Saxena, was recognised as the Public Sector Bank of the Year at the FE Best Banks Awards.
FE Best Banks Awards 2025 Live: Banker of the Year award
At the FE Best Banks Awards, Axis Bank’s MD and CEO Amitabh Chaudhry was honoured with the prestigious Banker of the Year award.
FE Best Banks Awards 2025 Live: Art of running the coalition govt
"We know the art of running the coalition govt. In a coalition govt, it is not possible that the speed of the nation's developments can be slowed down," Shah replied on the question if he feels that the reforms could have been made earlier in his term.
FE Best Banks Awards 2025 Live: 'Govt working with pvt sector for skill enhancement'
Amit Shah said the government is working with private sector to enhance skilling and R&D in India.
FE Best Banks Awards 2025 Live: Shah on buying Russian oil
Not specifically Russian oil but India will continue buying oil from wherever they get the best rates, said Amit Shah.
FE Best Banks Awards 2025 Live: Shah on India-US deal
"India-US talks are on final stage. Indian govt will make sure the economy continues to run smoothly. In about a week, the deal will be clear for all to see," Shah replies on question of how the talks are ongoing.
FE Best Banks Awards 2025 Live: Shah on GST 2.0 reforms
Amit Shah on GST 2.0 reforms: "Many from Rahul Gandhi's party said that GST was their idea, then why was it not implemented? They say the states opposed it. Their govt was not able to give states the guarantee of growth. Modi govt came in and it guaranteed a 14% growth to states."
FE Best Banks Awards 2025 Live: Shah's message to the banking sector
Addressing the event, Amit Shah said green growth, defence manufacturing are going to be key driver for growth going forward. In his message to the banks, Shah said, "Banking sector to worry about changing the scale. Indian banks should be among the top banks in the world."
FE Best Banks Awards 2025 Live: Amit Shah pitches for 'Make in India'
Make in India instrumental in bringing about policy reforms to enable the country to become a manufacturing hub, says Amit Shah.
FE Best Banks Awards 2025 Live: 'Need to strengthen MSME sector'
Need to strengthen the MSME sector, said Amit Shah. UPI instrumental in bringing about a digital revolution in India, he added.
FE Best Banks Awards 2025 Live: Amit Shah on GST 2.0 reforms
Speaking about the latest GST reforms, Shah said it is the biggest example of structural reforms undertaken in recent times.
FE Best Banks Awards 2025 Live: 'NPAs reduced to 2.5% from 19% in last 10 years'
Comparing the NPAs across banking sector since 1999, Amit Shah said that there has been a reducing from 19% to 2.5% in last 10 years through structural banking reforms. "In 1999, under the Cong govt, the gross NPA stood at 16%. When Atal Bihari Vajpayee govt left in 2004, the NPA was 7.8%. In the 10 years of UPA govt, the NPA went to 19%. In the last 10 years of NDA govt, the NPA stands at 2.5%," said Shah.
FE Best Banks Awards 2025 Live: '53 crore bank accounts opened in last 10 years'
Home Minister Amit Shah says that banking reforms picked pace after 2014. "53 crore bank accounts opened in the last 10 years," Shah says.
FE Best Banks Awards 2025 Live: 'India saw 14% FDI increase amid global slowdown'
Amit Shah says that in a situation when even many developed nations are facing slowdown, India has seen a 14% FDI increase.
Speaking at the awards ceremony, Amit Shah said India's vibrant economy is a bright spot in the global arena. "Robust economic performance, political stability key pillars of economy and along with long term reforms India is shining bright globally," he said.
FE Best Banks Awards 2025 Live: Amit Shah addresses the event
Home Minister Amit Shah addresses the event and jokingly says he is surprised why he was called for awards related to banks. The HM goes on to pay tribute to the "Express Youth".
FE Best Banks Awards 2025 Live: Viveck Goenka addresses the house
Viveck Goenka addresses the house ahead of the ceremony. "Honoured to have Amit Shah with us," says Goenka. The award celebrates Indian financial sector, a core pillar of our economy, he adds.
FE Best Banks Awards 2025 Live: Amit Shah arrives at the venue
Home Minister Amit Shah has arrived at the venue. The FE Best Banks Awards 2025 has started. Maharashtra Deputy CM Eknath Shinde also present at the ceremony.
FE Best Banks Awards 2025 Live: Event to begin soon
The FE Best Banks award ceremony will begin in the next 30 minutes at ITC Grand Central in Parel. Here are some images from the ceremony -
FE Best Banks Awards 2025 Live: Categories of awards
The FE Best Banks awards will be given under the following categories:
- Lifetime Achievement Award
- Banker Of The Year
- Best Non-Banking Finance Company
- Best Public Sector Bank
- Best Private Sector Bank
- Best Foreign Bank
- Digital Bank of the Year
- FINTECH - Lending
- FINTECH- Insurance
- FINTECH- Regulatory Tech
- FINTECH - Payments
FE Best Banks Awards 2025 Live: Devendra Fadnavis part of dignitaries attending
Maharashtra Chief Minister Devendra Fadnavis is also part of the attending dignitaries.
FE Best Banks Awards 2025 Live: How does the jury select banks?
The jury is supported by information collated and fact-checked by EY and is based on three years of data from Reserve Bank of India. In addition to financial metrics, other parameters such as corporate governance are also taken into consideration. Apart from awards for the leaders in the various sectors, the jury also selects the country’s best digital lenders and the best banking products.
FE Best Banks Awards 2025 Live: Jury members this year
The winners, across categories, have been selected by an independent jury headed by S Ramadorai, former Vice-Chairman, Tata Consultancy Services, and comprising Dinesh Khara, former Chairman, State Bank of India; Pradip Shah, chairman, IndAsia Fund Advisors; Amit Chandra, chairperson Bain Capital; and Sharad Sharma, founder, iSPIRT.
FE Best Banks Awards 2025 Live: Amit Shah in conversation with FE Editors
Amit Shah will also be in conversation with Shyamal Majumdar, Editor, Financial Express and Rishi Raj, Executive Editor, Financial Express, sharing his perspective on the policy reforms and the economy.
FE Best Banks Awards 2025 Live: Hello and welcome
Hello and welcome to the live coverage of FE Best Banks Awards 2025. The FE Best Banks awards honour the country’s best lending institutions across categories including Banks, Non-Banking Financial Companies, Small Finance Banks and Fintechs. Home Minister Amit Shah will be the chief guest at the event in Mumbai today. Stay tuned here for the latest updates.