Page 2 - Banking Sector

Banks double cyber insurance cover to $100 mn as digital threats intensify

Higher cyberattacks, rising claim severity and tighter regulatory scrutiny are prompting banks and financial institutions to significantly increase cyber insurance cover

Canara Bank Q1FY27: Net profit at ₹4,856 crore as NII grows 13.4%

The gross NPA ratio fell 112 basis points year-on-year to 1.57 per cent and the net NPA ratio declined 27 basis points to 0.36 per cent in the June quarter

Punjab National Bank's profit to cross ₹20,000 cr mark in FY27: MD Chandra

Enthused by the consistent financial performance of the last four quarters, Punjab National Bank MD and CEO Ashok Chandra exuded confidence that the bank's profit would surpass the Rs 20,000 crore mark this financial year. The public sector lender had earned a net profit of Rs 16,904 crore in the previous financial year. From the second quarter of last financial year, the bank has been maintaining a net profit of over Rs 5,000 crore every quarter, Chandra told PTI in an interview. "We have maintained the same trend in the first quarter (ongoing financial year). And I am hopeful and confident that with the profitable growth, which is happening in the system....we will be surpassing the Rs 5,000 crore number and every quarter will be reaching a new height," he said. Asked if the bank can cross the Rs 20,000 crore mark during FY27 at this run rate, he said, "If I am telling that every quarter Rs 5,000 crore of net profit will happen, I think that goes to that figure which you are talk

Bank of India Q1 profit grows 36% to ₹3,068 cr on healthy loan growth

Targets $1.2 bn FCNR (B) deposits, $2 bn overseas borrowing

Ujjivan SFB's Q1 profit rose over 3x to ₹317 cr on lower credit costs

The lender reported robust loan and deposit growth, improved asset quality and lower credit costs, while raising its return on assets guidance for FY27

CSB Bank Q1 results: Profit rises 27% to Rs 150 crore on higher NII

The private lender's June-quarter earnings were supported by higher net interest income and lower provisions, while advances and deposits recorded healthy growth

CSB Bank Q1 result: Net profit rises 27% to ₹150 cr, revenue at ₹1,516 cr

CSB Bank on Wednesday reported a 27 per cent increase in the June quarter net profit at Rs 150 crore aided by core income. The private sector lender had earned Rs 119 crore profit in the year-ago period. Total income improved to Rs 1,516 crore from Rs 1,286 crore a year ago. Interest income grew to Rs 1,287 crore from Rs 1,041 crore, CSB Bank said in a regulatory filing. The bank's net interest income also increased 26 per cent to Rs 479 crore from Rs 379 crore in the same quarter in the previous financial year. The bank's asset quality improved as Gross Non-Performing Assets (NPAs) fell to 1.75 per cent of gross advances as of June 30, 2026, from 1.84 per cent a year ago. Similarly, net NPAs, too, declined to 0.39 per cent from 0.66 per cent at the end of the first quarter of the previous financial year. As a result, provisions and contingencies eased to Rs 49 crore from Rs 61 crore earmarked during the same quarter a year ago. The bank's capital adequacy ratio declined to 19.

Punjab National Bank eyes entry into world's top 100 banks in next 2 years

Currently, only State Bank of India, the country's biggest lender, and private-sector leader HDFC Bank Ltd. rank in the top 100 global sector list by total assets

Punjab & Sind Bank eyes 8-9 percentage point cut in govt stake via QIP: MD

Expect govt to also undertake minority stake sale in bank this year

Eastern Uttar Pradesh bolstering digital banking, says SBI's Kumar Anand

SBI plans to deepen its presence in Eastern Uttar Pradesh by expanding digital banking, MSME and farm lending, while supporting tourism and ODOP industries

Banks to give fillip to Uttar Pradesh's $1 trillion economy road map

With a ₹40 trillion economy in sight, Uttar Pradesh is driving banking growth through rising deposits, credit expansion, financial inclusion and infrastructure-led investment

HDFC Bank board to soon decide on CEO reappointment, says deputy MD

The Governance, Nomination and Remuneration Committee is expected to conclude the process soon before the proposal is sent to the RBI for regulatory approval

Next two quarters will be tough for the markets, B. Gopkumar, Axis MF

We've also seen significant sector rotation over the past few weeks, making it difficult for fund managers to stay positioned across every segment, says B. Gopkumar, MD & CEO of Axis Mutual Fund.

RBI's forex deposit measures raise hopes of margin recovery for banks

RBI's measures to attract foreign currency inflows are expected to improve liquidity and support lending margins as major private sector banks, including HDFC and Axis Bank, report Q1 earnings

Foreign banks step up leverage to attract FCNR(B) deposits from NRIs

Some foreign banks are offering leverage of up to 19 times FCNR(B) deposits to attract NRI funds as lenders intensify mobilisation efforts under the RBI's special scheme

Banks set for double-digit profit growth in Q1FY27: Emkay Global

Analysts at Emkay Global Financial Services believe that banks are likely to begin FY27 on a healthy note, with strong loan growth and resilient asset quality and treasury income gains.

RBI approves appointment of Rajiv Kumar as part-time chairman of HDFC Bank

HDFC Bank on Wednesday said RBI has approved appointment of former Chief Election Commissioner Rajiv Kumar as part-time chairman of the bank for a period of three years. His appointment comes into effect from July 15, 2026, HDFC Bank said in a regulatory filing. Interim chairman Keki Mistry continues to be a non-executive non-independent director of the bank, it added. Kumar is former Chief Election Commissioner of India and Finance Secretary. Kumar had been instrumental in revitalising public sector banking and the financial sector as Secretary Department of Financial Services between 2017 and 2020. Within a fortnight of Kumar joining Department of Financial Services, accounts of about 3.38 lakh shell companies were frozen, hitting at the architecture of black money itself. Curbs on ponzy schemes followed. Through decisive policy direction and execution, Kumar led a comprehensive clean-up of bank balance sheets by mandating transparent recognition and provisioning of NPAs and by

Govt receives revised financial bids for IDBI Bank stake sale: Report

The government has received revised financial bids for the strategic sale of IDBI Bank from Fairfax Financial Holdings and Emirates NBD, sources said on Tuesday. A final decision on the successful bidder will be taken once the financial bids are opened, which is likely very soon, sources added. According to sources, both the bidders have experience in the Indian banking sector, with Dubai-based Emirates NDB acquiring RBL Bank earlier this year and billionaire investor Prem Watsa-backed Fairfax Financial already holding a 40 per cent stake in the private-sector CSB Bank. Both the bidders already have security clearance from the Ministry of Home Affairs (MHA) and 'Fit and Proper' assessment from the RBI. The government and LIC were together looking to sell 60.72 per cent in IDBI Bank and had floated an Expression of Interest (EoI) in October 2022. Financial bids came on February 6. However, the financial bids from Fairfax Financial Holdings and Emirates NBD were below the reserve pr

AI threatens low-end jobs, making skilling an urgent national priority

Govt needs to focus more on low-end work, which will be impacted more by technology and artificial intelligence

AI, identity, real-time payments resetting cyber threat landscape: Report

The rapid transformation of banking and financial services is creating a fundamentally new cyber threat landscape, according to a report that argues traditional security models are no longer sufficient to serve today's interconnected ecosystems. The Digital Threat Report 2025-26, released on Monday, notes that conventional cybersecurity architectures were designed around centralised systems where trust boundaries were defined. Today's financial ecosystem, however, is built around interconnected platforms, embedded finance, AI-driven decision-making and real-time payments, dramatically expanding the attack surface, says the new report by the Ministry of Electronics and Information Technology (MeitY), Indian Computer Emergency Response Team (CERT-In), the Computer Security Incident Response Team in Finance (CSIRT-Fin) and SISA. "Modern financial attacks are moving from direct compromise to trust-chain manipulation across biometric onboarding, partner apps, AI decisioning, real-time ..