Public Sector Banks

Public sector banks are bracing up to increase IT spending in order to secure their systems, safeguard customer data, and protect monetary resources amid global concerns over Anthropic's Claude Mythos AI tool and its potential implications for financial data security. Mythos' advanced coding capabilities give it an unprecedented potential to detect cybersecurity weaknesses and develop methods to exploit them, sparking concerns that it could be used to disrupt banking systems. In view of this new challenge, banks have to definitely increase their investments in IT to make their system more robust and reduce vulnerabilities with regard to cyber attacks, Punjab & Sind Bank MD and CEO Swarup Kumar Saha told PTI. He said the bank is going to increase its IT spending this financial year to meet the challenges posed by new technology. Besides, UCO Bank MD and CEO Ashwani Kumar said the bank's IT spending is going to be higher than last financial year, and a major part would go towards ...

The government has asked public sector banks to initiate the process of negotiations for the 13th Bi-partite settlement in a time-bound manner and finalise it in the next 12 months. The wage revision for employees and officers of public sector banks would be due from November 1, 2027. Public sector banks (PSBs) and financial institutions, including insurance companies revise wages of their employees every five years. As part of the settlement, the Indian Banks' Association (IBA) is expected to engage in dialogues with the employees' unions/associations and arrive at a mutually agreeable wage settlement. As the timely conclusion of the settlements is essential for maintaining industrial harmony, the Department of Financial Services advised Public Sector Banks (PSBs) in a communication to their heads to initiate the necessary measures to commence negotiations for the impending wage revision. PSBs are advised to complete the negotiation process within a maximum period of 12 months, th

Bank of Maharashtra posted a 34.89 per cent year-on-year (Y-o-Y) surge in net profit to ₹2,014.09 crore, compared to ₹1,493.08 crore in the March quarter of FY25

The state government reversed its five-year ban on Bank of Baroda within a day, following the lender's representation over alleged lapses in fund transfers under a state scheme

The challenge is to transform the promotion process from a source of distrust to a catalyst for developing genuine leaders

Kotak Institutional Equities is bullish on private banks over PSU banks peers citing better valuations and risk-reward.

Developing a deep corporate bond market requires the political will to relinquish control over credit, not technical fixes

Based on interactions with direct selling agents (DSAs) across western India, Motilal Oswal said MSME credit demand remains healthy in Q4FY26

Gold loan disbursements nearly doubled in Q3 FY26 as borrowers favoured gold-backed credit, with NBFCs leading growth and PSBs contributing the largest share, Equifax data shows

In the past one month, the Nifty PSU Bank index has soared 12 per cent, as compared to 2.7 per cent decline in the Nifty 50.

The combined net profit of listed universal banks crossed Rs 1 trillion for the first time in a quarter, in December, with three banks contributing at least 50% to it

DFS Secretary M Nagaraju asked banks to lower borrowing costs for small-ticket business loans and expand credit, stressing PSBs' strong capital position and upcoming digital lending portals

UFBU alleges proposed changes to performance-linked incentive structure in public sector banks are discriminatory and violate status quo agreed during conciliation

Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth. All 12 public sector banks (PSBs) together made a profit of Rs 44,473 crore in the December quarter of FY25. Thus, the increase in profit in absolute terms was Rs 8,130 crore as compared to the same quarter of the previous financial year. Market leader SBI alone contributed 40 per cent to the total earnings of Rs 52,603 crore, as per the published numbers on stock exchanges. SBI posted the highest quarterly net profit of Rs 21,028 crore in Q3 FY26, 24 per cent higher than the same period of the previous fiscal. In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 56 per cent to Rs 1,365 crore, followed by Central Bank of India with a 32 per cent rise to Rs 1,263 crore. During the quarter, all 12 public sector bank

Healthy treasury gains helped public sector banks cushion muted NII growth in Q3, even as higher bond yields and slower deposit growth weighed on margins

The government is discussing raising the foreign direct investment cap to 49 per cent from 20 per cent, federal banking secretary M Nagaraju said

Top PSU bankers argue India needs a few global-scale banks to fund big projects, invest in tech, and support a $35-40 trillion economy by 2047

There is greater confidence among banks to lend to MSMEs because of data availability, and clarity in terms of their business models, says Setty

Indian Overseas Bank posted a 63 per cent rise in net profit in the December quarter, supported by higher operating income, strong credit growth and a sharp improvement in asset quality

Union Bank of India posted a 9 per cent rise in December-quarter net profit as provisions dropped sharply, even as net interest margins declined and deposit growth moderated