Page 2 - Banking News

Datanomics: Chandigarh tops RBI ombudsman grievances rates in FY25

RBI data shows bank complaints rose 13.6% in FY25, with loans leading grievances as the central bank pushes lenders to strengthen internal ombudsman mechanisms

IBPS Clerk Registration 2026 starts from August 1; check full schedule

According to the released exam schedule, the preliminary IBPS Clerk exam will be held tentatively in October 2026, while the main examination has been likely to be on December 2026

Tamilnad Mercantile Bank's Q1 net profit surges 35% to ₹412 crore

Tamilnad Mercantile Bank (TMB) on Monday reported a 35 per cent jump in net profit to Rs 412 crore for the first quarter ended June 30 on improvement in its core income. The bank had a net profit of Rs 305 crore in the June quarter of the previous fiscal. The total income rose to Rs 1,901 crore during the June quarter of the current fiscal year from Rs 1,617 crore in the same quarter of FY26, TMB said in a regulatory filing. Interest earned by the bank improved to Rs 1,662 crore, as compared to Rs 1,386 crore in the June quarter of FY26. Net Interest Income of the bank rose by 32 per cent to Rs 765 crore from Rs 580 crore in Q1 of the previous financial year. In a post-result interaction with media, Tamilnad Mercantile Bank MD and CEO Salee Sukumaran Nair said the bank is exploring an option of opening a representative office overseas to mobilise deposits from NRIs. With regard to IT spending, he said the bank would spend Rs 280 crore on improving infrastructure, mobile app etc.

Private bank attrition eases in FY26 amid digitisation-led workforce cuts

ICICI Bank, Axis Bank and Kotak Mahindra Bank reported lower attrition in FY26, while HDFC Bank saw a marginal rise as technology and digitisation reduced headcount

Punjab and Sind Bank hopes to surpass ₹1,000 cr recovery target in FY27

Bouyed by better-than-expected recovery in the first quarter, Punjab & Sind Bank expects to surpass the target of Rs 1,000 crore in the current fiscal. During the first quarter, total recovery was Rs 366 crore compared to Rs 350 crore in the same period a year ago. "We will be able to do much better than our guidance on recovery for the current financial year given our huge focus on NPAs reduction," Punjab & Sind Bank MD and CEO Swarup Kumar Saha told PTI in an interview. There are a lot of inventories on which the bank can depend for recovery, he said. Besides, he said, the bank has given a lot of focus on upgradation of old non-performing assets (NPAs) accounts. The bank is undertaking various actions, including One Time Settlement, action under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, and Insolvency and Bankruptcy Code, he said. "So, overall we created a mechanism so that not a single rupee goes to waste for the bank ...

PNB to foray into acquisition finance in third quarter: CEO Ashok Chandra

Punjab National Bank (PNB) managing director and CEO Ashok Chandra has said that the bank would enter into acquisition finance in the third quarter of the current financial year as the RBI recently opened the window for lenders. Earlier this year, the Reserve Bank came out with final guidelines on acquisition finance by banks, increasing the lending limit to up to 75 per cent of the deal value from the 70 per cent proposed in the draft rules. "The acquisition finance market is a very, very big market and ample opportunities are there in the system. We have got our policy approved for the acquisition financing in the last board meeting," he told PTI in an interview. "We are looking for a good partner and then maybe from Q3 onwards, we will be initiating some work in the acquisition financing," he said. To begin with, he said, the bank would be starting acquisition finance with the domestic entities, and this will help the bank to diversify their asset portfolio. While permitting th

HSBC, Citi, DBS among 17 banks to pilot Swift's blockchain ledger

The pilot will enable participating banks to support round-the-clock cross-border payments using tokenised deposits while settling transactions through existing payment systems

DBS Bank India's net profit jumps 49% YoY to ₹1,020 crore in FY26

The Singapore-headquartered lender's India arm reported robust FY26 earnings, aided by healthy loan growth, improved asset quality and a stronger capital position following a capital infusion

UniCredit nears control in Commerzbank after it secures 48% stake

UniCredit has secured a 47.6% stake in Commerzbank, moving closer to control despite continued opposition from Germany's government and the lender's management

Banks strengthen deposit base as credit growth outpaces liabilities

Crisil says banks continue to prioritise CASA mobilisation as credit growth outpaces deposits and competition for retail funds keeps funding costs under pressure

Renewing the cooperative promise

UCBs need to combine their cooperative values with contemporary capabilities

Ujjivan SFB raises FCNR(B) deposit rate to 7.50% after RBI eases norms

Ujjivan Small Finance Bank raises interest rates on 3-5-year FCNR(B) deposits after the RBI removes the ceiling on fresh deposits of similar maturities

IBPS PO, MT and SO recruitment 2026 notification out; key dates announced

The IBPS recruitment drive is being held for posts in 2027-28. As per the schedule, online registration and application fee payment will start on July 1, 2026, and continue till July 21, 2026

Axis Bank CFO Puneet Sharma quits after six years; no successor announced

In a regulatory filing, the private sector lender said Sharma submitted his resignation on June 28 to pursue the next phase of his professional career

Banking system liquidity surplus at lowest in FY27 on advanced tax outflows

Liquidity surplus fell to Rs 23,881 crore from Rs 1.5 trillion a day earlier as advance tax payments drained funds from the banking system

Sebi pushes back merchant banker SBU and net worth norms deadlines

Markets regulator Sebi on Thursday extended the timelines for merchant bankers to comply with certain provisions related to separate business units (SBUs), net worth and liquid net worth requirements, citing operational challenges faced by the industry. Under the revised timelines, merchant bankers will now have until December 31 to transfer activities to separate business units in accordance with Sebi (Merchant Bankers) Regulations. Earlier, the deadline was July 3, according to a circular issued by the markets regulator. Further, the Phase I compliance deadline for enhanced net worth requirements has been extended to March 31, 2027, from January 2, 2027. The Phase II deadline has been shifted to March 31, 2028, from January 2, 2028. Similarly, compliance timelines for Phase I and Phase II liquid net worth requirements have been extended to March 31, 2027, and March 31, 2028, respectively. The deadline for merchant bankers to intimate Sebi regarding their categorisation as Categor

Fault lines are deepening in ATM business as operational issues mount

Rising wage and logistics costs are exposing long-standing stress points in India's ATM ecosystem, prompting calls for a rethink of interchange fees

Physical banking to remain core to SBI strategy amid digital expansion

The comments come as SBI sharpens its 'Digital First, Customer First' strategy, with continued investments planned in technology, data analytics, AI, cybersecurity, and digital infrastructure

Union Bank approves ₹8,000 crore capital raise through debt, equity mix

Union Bank of India on Tuesday approved raising of up to Rs 8,000 crore, which would include the issuance of equities worth Rs 3,000 crore. In a BSE filing, Union Bank said the board has approved raising of debt capital through Basel III-compliant additional Tier 1 bonds and/or Tier 2 not exceeding Rs 5,000 crore. Besides, the board has approved raising Rs 3,000 crore equity capital in tranches within the overall limit of Rs 8,000 crore, through Public Issue (i.e. Further Public Offer) and/or rights issue and/or private placements, including Qualified Institutions Placements and/or Preferential Allotment. "The board of directors, in its meeting held on May 26, 2026, considered and approved the plan of the bank to raise capital by an amount not exceeding Rs 8,000 crore," the filing said. Shares of Union Bank of India were trading at Rs 167.25, down 1.01 per cent over the previous close on BSE.

BFSI firms use AI, but only a handful track its impact on revenue

AI adoption is widespread in BFSI firms to improve efficiency, but most companies lack mechanisms to track its revenue impact, limiting its role in driving measurable business outcomes