Public Banks

On Wednesday, February 26, banks will stay closed in certain states because of Mahashivratri. This week, banks in a number of cities will be closed for two days, but not consecutively

When comparing the top rates across different categories of banks, small finance banks take the lead, with Unity Small Finance Bank and NorthEast Small Finance Bank offering an impressive 9% interest

The gold loan portfolio of banks rose by 71.3 per cent year-on-year (Y-o-Y) till December 2024 to Rs 1.72 trillion

State-owned lender also raises Rs 10K cr through 15-yr infra bonds at 7.23%

Last month, in its latest move, the RBI asked lenders to stop issuing new microfinance loans to borrowers unless they have cleared previous loans, three of the bankers said

Indian banks are prioritising work-life balance by implementing policies to reduce overtime and after-hours communication, responding to rising attrition and employee burnout

Lenders such as Union Bank of India, Bank of Baroda, Punjab & Sind Bank, and others are promoting special schemes across their loan and deposit products

In a separate statement announcing the new facility, the PBOC said it would use it to trade with primary dealers in OMO on a monthly basis

UCO Bank shares jumped after the company reported healthy Q2FY25 results. The bank's net profit jumped 50 per cent year-on-year (Y-o-Y) to Rs 602.7 cr in Q2FY25, from Rs 401.7 crore in Q2FY24

Analysts at Nomura suggested that larger private banks are likely to experience a greater negative impact on their NIMs from the potential US Fed rate cuts compared to mid-sized & smaller banks.

He said SBI has been able to create resilience in the system. While ensuring this, the country's largest lender had to ensure an improved customer experience against the backdrop of legacy systems

Public sector banks have reported over three-fold jump in compensation towards frauds or e-frauds reported by their customers to Rs 140 crore during 2023-24, Parliament was informed on Tuesday. The amount of compensation paid by these banks stood at Rs 42.70 crore in the previous fiscal, Finance Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha. Union Bank of India paid the highest compensation of Rs 74.96 crore followed by Bank of India at Rs 20.38 crore and Indian Bank at Rs 16.16 crore during FY24, she said. In FY23, Union Bank of India was again the highest compensation payer at Rs 12.18 crore followed by Central Bank of India at Rs 11.68 crore. Sitharaman further said that RBI, in July 2017, issued instructions on limiting the liability of customers in cases of unauthorised electronic banking transactions. As per these instructions, a customer has zero liability if the unauthorised transaction occurs on account of contributory fraud or negligence/deficien

State-owned UCO Bank on Monday reported a 147 per cent year-on-year jump in net profit to Rs 551 crore in the April-June quarter. The lender's bottomline in the corresponding period a year ago stood at Rs 223 crore. Operating profit in the reporting quarter was Rs 1,321 crore, registering a growth of 9.81 per cent over the year-earlier period. The Kolkata-based bank's total business grew 11.46 per cent on-year to Rs 4,61,408 crore, while gross advances increased 17.64 per cent to Rs 1,93,253 crore, it said in a statement. Total deposits rose 7.39 per cent year-on-year to Rs 2,68,155 crore in the three months ended June. Advances in retail, agriculture and MSME (RAM) sectors were up 18.65 per cent at Rs 1,01,986 crore, it said. The bank also managed to reduce its Gross NPA in April-June by 116 basis points to 3.32 per cent, while net NPA declined by 40 basis points to 0.78 per cent. The statement said capital adequacy ratio stood at 17.09 per cent at the end of the first quarter,

Ahead of Budget 2024, the Finance Ministry will meet state-owned banks and financial institutions on Tuesday to assess advancements in key financial inclusion schemes. Three key schemes explained

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Monday recommended the elevation of five chief general managers for the post of executive directors in various banks. The FSIB interviewed 57 candidates between June 13-17 for recommending suitable names for executive directors (EDs) in public sector banks (PSBs). Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends five names for the panel of EDs for year 2024-25, FSIB said in a statement. These successful Chief General Managers (CGMs) are Beena Vaheed (Union Bank of India), Rajeeva (Punjab National Bank), S K Majumdar (Canara Bank), D Surendran (Canara Bank) and Amit Kumar Srivastava (Punjab National Bank). "The names are in the order of merit. This panel will be operated in the financial year 2024-25, subject to availability of vacancies in the panel Year 2024-25," it said. Th

State-owned and private banks are regulated by different laws, complicating the task of investor protection. A solution could be incorporating all banks under the Companies Act of 2013

Lok Sabha Elections 2024 Phase 2: Due to the general elections 2024, banks will remain closed today, April 26. However, online transactions will remain active

Ram Navami, celebrated across India, commemorates the birth anniversary of Lord Rama

According to the finance ministry's order, the business plans should cover strategies related to increasing low-cost deposits, raising capital, and resolving bad loans, among other things

The CD ratio is the ratio of the funds that banks lend compared to the funds raised in the form of deposits