The banking industry has undergone a revolutionary transformation in recent years, emerging as a dynamic force that is more inclusive, agile, customer-centric, and transparent than ever before. 

The future of the industry looks exceptionally promising. The rise of non-traditional players, the relentless pace of digital innovation, and strategic government initiatives to drive financial inclusion and boost digital payments are all set to reshape the financial landscape, creating unparalleled growth opportunities and new frontiers for success.

At Grant Thornton Bharat, our Banking team combines industry knowledge and experience with strategic insights to help our clients succeed. With expertise from seasoned banking professionals and former senior regulators, we provide sustainable, forward-thinking solutions that help banks overcome today’s challenges and prepare for tomorrow.

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A detailed discussion on Union Budget 2026 announcements and their relevance for businesses and India’s economic landscape.

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Industry understanding

Our team has extensive experience in the banking industry, offering profound insights into the market dynamics and product and operational intricacies.

Collaborative approach

Our experts consistently engage with regulatory bodies, actively contributing to discussions and workshops on regulatory and compliance matters.

Customer centricity

We are dedicated to delivering customised services and solutions that seamlessly align with the unique requirements of our clients throughout their business journey.

Our solutions

Leveraging our expertise and strong ties with regulatory bodies, we assist organisations in enhancing their compliance culture. Our comprehensive compliance solutions include risk assessment, programme implementation, and activity monitoring.

Specialising in various models (specialised reviews, managed services, and retainership), we offer quantitative, qualitative, and governance solutions for internal control and financial controls.

Our offerings cover a wide range of comprehensive governance solutions, including internal audits, process reviews, ICOFR/IFC development and assessments, SOX audits, SOP development, and specialised risk management reviews focusing on ERM and model validation.

Facilitating banks in their transformation and growth journey through digital advancements, we enhance overall customer experience. Our solutions cover onboarding, digital lending, core banking, neo banking, fintech integrations, and credit monitoring solutions.

Utilising advanced Regtech solutions like Axiom, Workiva, and OFSAA for large banking clients globally. Our system ensures seamless regulatory and legal entity reporting, covering FTP, liquidity, and compliance with IFRS (9, 16, 17, etc.).

Conducting advanced analytics on high-risk areas susceptible to fraud using over 100+ industry-specific fraud indicators. We deploy enhanced investigation procedures in response to triggers identified during the analytics process.

We assist organisations in identifying whether heightened delinquency in a product portfolio stems from business reasons or fraud-related elements.

Case study by Grant Thornton Bharat - Can regulatory audits strengthen digital risk governance in banking?
Case study

Can audits strengthen cyber and compliance in banking?

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1.
Problem statement
A private bank faced regulator-identified deficiencies in IT, cyber, and payments, requiring an external audit for remediation and compliance.
2.
Our solution
We reviewed governance, cybersecurity, vendor risk, continuity, and ransomware preparedness, delivering actionable recommendations to meet compliance standards.
3.
The results
The audit ensured full compliance, stronger risk governance, improved security of digital payments, and readiness against evolving cyber threats.
An Australian mutual bank

An Australian mutual bank

1.
Problem Statement
The client needed assistance in creating an ECL model based on their internal data while keeping their current system intact.
2.
Our solution
We developed an AASB 9 (IFRS 9) compliant ECL model tailored to the client's needs, drawing on our extensive expertise in ECL risk parameters.
3.
Impact
Our approach ensured the model was constructed within the existing system's capabilities while adhering to local regulations and financial reporting standards.
A leading bank headquartered in the UAE

A leading bank headquartered in the UAE

1.
Challenge
The client sought to assess and enhance their information security governance framework, conduct a bank-wide risk assessment for information security, and increase awareness across the organisation.
2.
Our solution
We deployed two teams to address these requirements. One team refined the existing information security governance framework and documentation to align with ISO 27001, NIST, and UAE IA standards, as well as industry best practices.
3.
Impact
Our comprehensive review of the information security framework bolstered the bank's security posture. The risk assessment program not only raised awareness but also identified key risk themes.

    Our insights

    View all
    Pre-Budget expectations 2026
    Follow #BudgetWithGT Pre-Budget expectations 2026
    Explore Grant Thornton Bharat’s pre-Budget 2026 insights across sectors including automotive, banking, technology, infrastructure, healthcare, taxation, and investment priorities shaping India’s economic, regulatory, and policy landscape.
    01 Feb 2026
    Union Budget 2026-27
    Follow #BudgetWithGT Union Budget 2026-27
    As India prepares for a defining fiscal moment, the Union Budget 2026–27 is expected to set the tone for the country’s next growth cycle. At a time of shifting global dynamics and evolving domestic priorities, this Budget will be closely watched for clear signals on reform momentum, investment focus, and economic resilience.
    09 Jan 2026
    Proposed ECL framework for Banks in India by Grant thornton bharat
    Thought leadership Proposed ECL framework for Banks in India
    The Reserve Bank of India’s proposed Expected Credit Loss (ECL) framework marks a major shift in credit risk management for banks. By introducing forward-looking provisioning based on probability of default, loss given default, and exposure at default, the framework enhances early risk detection and capital planning. With strong governance, transparency, and global alignment, this reform positions Indian banks for improved financial resilience and compliance with international best practices.
    11 Nov 2025
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      Our leaders

      Suresh Venkatesan
      Suresh Venkatesan
      Partner – FS Consulting/ Transformation
      Chennai
      View full profile
      Vivek Iyer
      Vivek Iyer
      Partner and NBFC Industry Leader
      Mumbai
      View full profile
      Akshay Garkel
      Akshay Garkel
      Partner, Cyber and IT Risk Leader
      Mumbai
      View full profile
      Vernon Dcosta
      Vernon Dcosta
      Partner and Banking Industry Leader
      Mumbai
      View full profile
      Tarun Tokas
      Tarun Tokas
      Partner, Financial Services - Risk
      Gurugram
      View full profile
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