Page 24 - Banking

Canara, Union Bank announce special deposit schemes to boost growth

The product offers a flexible benefit system like charge waivers and concessions which is linked to the previous month's Monthly Average Balance (MAB)

ATMs slide into the shadows as digital transactions take centerstage

With the Covid-induced surge in UPI transactions now firmly here to stay, banks are rethinking their strategies - and costs - on ATMs, especially for off-site machines

PSBs introduce AI-driven soft skill training to enhance customer service

It comes against the backdrop of stagnating deposit growth at major public sector banks (PSBs) and concerns in the Ministry of Finance about inconsistent customer service

State-run banks cautious; target modest 11-13% credit growth in FY26

Bankers said credit growth is expected to be sluggish in FY26 owing to weaker demand across unsecured loans, mortgages

PNB aims 58% of total loan book in FY26 from retail, agri, MSME loans: MD

Sharing the various initiatives taken to increase RAM, Chandra said the bank had conducted outreach activities for giving push to both retail and MSME lending in February

Indo-Pak tensions: PSBs fortified ops in sensitive areas along border

Banks such as Punjab & Sind Bank, Canara Bank, Union Bank of India, and Punjab National Bank have asked their circle heads to stay in their zonal offices

Legacy issues behind us, PNB is charting a new growth path: Ashok Chandra

The bank has reported a 14 per cent rise in total business at Rs 26.83 trillion in FY25, one of the highest in the banking system

SBI, private banks sell 20% Yes Bank stake to SMBC for ₹13,482 cr

In India's largest cross-border banking deal, SBI and private lenders sell 20% stake in Yes Bank to SMBC for ₹13,482 crore, valuing the bank at $7.9 billion

SMBC's board representation in Yes Bank to be proportionate to its stake

SMBC to gain 20 per cent stake in Yes Bank, becoming its largest shareholder with likely board representation; SBI's stake to reduce post regulatory approval

Public sector banks post record ₹1.78 tn profit in FY25, growth up 26%

Out of the total profit of Rs 1,78,364 crore earned during the FY25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings

SBI, PNB say ATMs stocked, services smooth amid India-Pakistan tensions

The announcements came against the backdrop of reports on social media that ATMs are likely to be shut in the coming days amid escalating tensions between India and Pakistan

Biz correspondents' body to raise Atal Yojana renewal commission with banks

BCRC may take up the issue with the Indian Banks' Association; in January, it had raised the matter with the insurance regulator

A, BBB-rated NBFCs face sharper slowdown amid asset quality stress

Lower-rated NBFCs face increased credit cost, lagged funding relief and rising losses in unsecured segments as overall loan growth slows down, says India Ratings

BFSI's risk index rise amid global economic stability, says CIRI report

BFSI sector's risk index rose amid inflation and geopolitical tensions even as risk mitigation efforts like digitisation and AI adoption supported operational resilience

Bank spread narrows to 10-year low of 2.71% in March: CareEdge

Lending-deposit rate spread for banks dropped to 2.71 per cent in March, driven by lower lending rates amid reduced high-yield loan exposure and RBI rate cuts

Banks bolster cyber defence amid India-Pakistan missile tensions

The bank has also beefed up security at the branches in the border areas, he said, adding that the bank has also made arrangements for safety

Nifty PSU Bank index slips 5%, sees sharpest one-day fall in 11 months

The Nifty PSU Bank index was the top loser among sectoral indices that ended 4.8 per cent lower at 6,235.20 levels on the NSE. BoB was the top loser among PSU banks that lost 11 per cent

Surprise visit by DFS secretary M Nagaraju shows behavioural lapses at PSBs

He was made to wait for an hour to meet the manager in one bank, and in some other PSB branches, he found the behaviour of officials "unsatisfactory"

J&K Bank aims to cross ₹5,000 cr profit mark by 2030: MD & CEO Chatterjee

Chatterjee emphasized on the need for the bank to focus more on supporting the agriculture sector, while expanding its footprints in the rest of the country as part of its diversification plan

SMBC nears YES Bank stake deal; India may see biggest private bank M&A

YES Bank stake deal: If finalised, this will be the largest private sector bank acquisition in India