Banking

Wells Fargo suspends China travel after employee exit ban: Report

The US banking giant's Chenyue Mao was subjected to an exit ban after she entered China in recent weeks, the Wall Street Journal reported, citing people familiar with the matter

AI-ML hiring grows 25% in May, IT sector records 5% decline: Report

While hiring in the Artificial Intelligence and Machine Learning (AI/ML) sector posted 25 per cent year-on-year growth in May 2025, the broader Information Technology sector saw a decline in job opportunities. According to the Naukri JobSpeak May 2025 report, overall hiring in the IT sector fell by 5 per cent compared to the corresponding period in the previous year. "In an otherwise stable job market, what stood out in May was the continued momentum in AI/ML hiring across metros alongside steady demand for senior professionals, a trend that's held firm over the past year," Naukri Chief Business Officer Pawan Goyal said. In May 2025, while overall hiring remained stable, industries like real estate (5 per cent growth) and insurance (6 per cent growth) emerged as relatively bright spots, according to the report. Hiring in Retails, Telecom/ISP, and Banking, Finance & Broking declined 8-9 per cent. However, unicorns in Banking and Financial Services ramped up hiring by 29 per ...

Bank holiday today: Are banks closed today for Maharana Pratap Jayanti?

Bank holiday today: Banks in this state will observe a holiday today, due to Maharana Pratap Jayanti. However, banks will remain open in rest of the country

IndusInd Bank fiasco: ₹674 cr wrongly booked as interest in MFI biz

IAD also flags ₹595 crore of unsubstantiated balances in "other assets", as whistleblower complaint prompts deep dive into IndusInd Bank's microfinance portfolio

ICICI Bank Q4 results: Net profit up 15.7% at Rs 13,502 cr, NII up by 11%

ICICI Bank on Saturday reported a 15.7 per cent jump in March quarter consolidated net profit at Rs 13,502 crore. On a standalone basis, the second largest private sector lender's net profit for the January-March quarter came at Rs 12,630 crore, up 18 per cent, as against Rs 10,708 crore in the year-ago period. The core net interest income moved up 11 per cent to Rs 21,193 crore, from the year-ago period's Rs 19,093 crore. The non-interest income excluding treasury increased 18.4 per cent to Rs 7,021 crore. Provisions came at Rs 891 crore in the March quarter, as against Rs 718 crore in the year-ago period. The gross non-performing assets ratio improved to 1.67 per cent at the end of March 2025, from 1.96 per cent in December 2024.

Mudra loan provided by Punjab & Sind Bank generates 1 million jobs: MD

Mudra loans provided by Punjab & Sind Bank over the last 10 years have been able to generate 10 lakh jobs at the grassroot level, the bank's managing director Swarup Kumar Saha said. Sharing the journey of Pradhan Mantri Mudra Yojana (PMMY) over the past 10 years, Saha said, the bank has disbursed loans to the tune of Rs 12,820 crore under the scheme, benefiting over 6.84 lakh beneficiaries across the country. "These include small vendors, women entrepreneurs, artisans, and youth, who are now empowered to become economically self-reliant. About 44 per cent of our disbursals have been under the Shishu (loans up to Rs 50,000) category, which speaks about our focus on first-time borrowers and grassroots entrepreneurship," he told PTI. Punjab & Sind Bank has enabled entrepreneurs to establish and expand their businesses, leading to employment generation, he said, adding, "So far approximately 10 lakh employment have been generated by the bank through this scheme at the grassroots .

Mainframe business critical and India a vital cog: IBM's Ric Lewis

While many consider it a legacy technology, and perhaps no longer at the forefront of today's technology conversations, it remains indispensable to innovation in enterprise businesses

IndusInd Bank's retail & small biz deposits decline by Rs 3.5k cr in Q4

Advances contract by Rs 19,000 cr in Q4 but increased 1.4% Y-o-Y

Bank Holiday 2025: Will banks remain shut today, April 1? Why?

Major banks across the country will remain closed today due to closure for the previous year's financial year (2024-25). Here's all you need to know

Bank employee strike scheduled for March 24-25 postponed by 1-2 months

The joint secretary of the DFS spoke on video call and informed about the positive discussion the Finance Minister and the DFS secretary had on the issue of five-day banking

DLAI to rebrand itself to Unified Fintech Forum as it pursues its SRO bid

This is in response to the Reserve Bank of India's (RBI's) internal feedback on its bid for official SRO status, according to three sources from the fintech industry

NaBFID in talks with ADB, WB for counter-guarantees to infra projects

DFI's loan book expected to touch Rs 3 trillion by FY28

Why RBI's new Governor Sanjay Malhotra must ease credit, but not too much

Effective April 1, banks will set aside less capital on loans to better-rated nonbanking financial companies

Citigroup mistakenly credits customer account $81 trn in 'near miss'

A third employee caught the error one-and-a-half hours after the payment was processed and the transaction was ultimately reversed several hours later, FT said

Citi accidentally credits client account with $81 trn instead of $ 280

The transfer was missed by two employees and detected by a third employee 90 minutes after it was posted

EOW arrests son of absconding businessman in New India Coop Bank fraud case

The Mumbai police's economic offences wing (EOW) has arrested the son of a businessman wanted in connection with the embezzlement of Rs 122 crore at the New India Cooperative Bank, an official said on Friday. The EOW on Thursday arrested Manohar Arunachalam (33), the son of absconding accused Unnathan Arunachalam, the official said. This is the fourth arrest in connection with the case, he said. The EOW had earlier arrested three persons, including the bank's ex-general manager, Hitesh Mehta, and real estate developer, Dharmesh Paun. The official said Manohar allegedly helped his father, Unnathan Arunachalam alias Arun Bhai, to flee, and a probe has revealed that he was with his father when the latter absconded. He will be produced in a court later in the day, the official said. EOW officials have been searching for Unnathan Arunachalam for the last several days, and a lookout circular has been issued against him According to the EOW, the bank's ex-general manager, Hitesh Mehta,

Ujjivan Small Finance Bank calls for counterbids on Arcil's anchor offer

Anchor bid translates to nearly 90% haircut for lender

RBI announces mega $10 billion FX swap to infuse rupee liquidity

The RBI will conduct the buy/sell swap on February 28

Bima-ASBA will eliminate unauthorised deductions: Insurance sector players

Irdai's decision to implement ASBA facility for insurance premium payment will benefit customers by eliminating unauthorised deductions and delayed refunds, say experts. Insurance Regulatory and Development Authority of India (Irdai) has directed life and health insurers to provide Bima-ASBA, a facility wherein a policyholder blocks the amount towards premium in his or her bank account which gets debited only when the policy is issued. Insurers have been asked to implement the new payment mechanism Bima-ASBA (Applications Supported by Blocked Amount) through Unified Payments Interface (UPI). ASBA facility or blocking of funds through UPI is widely used by retail investors in stock market. Commenting on the Irdai's decision, Jitendra Attra, Chief Financial Officer, SBI General Insurance said Bima-ASBA is a significant step toward enhancing transparency, security, and ease in insurance premium payments. "By enabling policyholders to authorise premium payments directly from their ban

PNB ONE to Axis mobile: Top banking apps to manage & secure your finances

Apps have services to pay bills, make investments and even purchase loans