Page 8 - Banking Sector

Bank unions protest Nirmala Sitharaman's privatisation 'endorsement'

The forum cited the collapses of YES Bank, Global Trust Bank, and Lakshmi Vilas Bank as examples of governance lapses in private banks

Global value chain faces disruption, reforms driving growth: FM Sitharaman

Finance Minister Nirmala Sitharaman highlights global challenges, stresses infrastructure push, reform measures, and technology-led growth to boost investment and productivity

Govt to retain cap on voting rights for major bank shareholders: Report

The government is also planning to more than double the foreign-investment cap in state-owned lenders to 49%, Reuters reported last week

SBI Q2 net profit rises 10% to ₹20,160 crore on Yes Bank stake sale

State Bank of India reported a strong second-quarter performance, driven by gains from the Yes Bank stake sale, and raised its FY26 credit growth guidance to 12-14% amid steady asset quality

Maharashtra reserves 70% jobs in district cooperative banks for locals

In a move aimed at encouraging local employment, the Maharashtra government has directed that 70 per cent of jobs in District Central Cooperative Banks (DCCBs) be reserved for candidates domiciled in the respective districts. The government has also decided that all future recruitments in DCCBs across the state be conducted only through the Institute of Banking Personnel Selection (IBPS), TCS-iON (Tata Consultancy Services), or Maharashtra Knowledge Corporation Ltd (MKCL) to ensure transparency and fairness in the process. A government resolution (GR) issued on October 31 said "70 per cent of the posts should be reserved for domicile candidates of the respective districts", while the remaining 30 per cent will be open to candidates from outside the district. If suitable out-of-district candidates are not available, those posts may also be filled by local candidates. As per the GR, the directive applies even to the banks that have issued recruitment advertisements before this ...

BoB Q2 profit dips 8% to ₹4,809 cr as non-interest income declines

Bank of Baroda's net profit fell 8.2 per cent in Q2 FY26 to Rs 4,809 crore on lower recoveries; the lender made a Rs 400 crore floating provision ahead of the ECL transition

AI must be used responsibly, or it can create biases: Banking heads at BFSI

Speaking at Business Standard's BFSI Summit, Virat Diwanji, National Head-Consumer Banking, Federal Bank, spoke with Nivedita Mookerji in a panel discussion on Impact of tech, AI on retail banking

Banking sector faces challenge of customer service: Arundhati Bhattacharya

Arundhati Bhattacharya, Chairperson and CEO of Salesforce India, said that the current banking sector faces the challenge of customer service.

Upper-layer NBFCs should be allowed to accept deposits, say CEOs

NBFC leaders urge RBI to let strong players accept public deposits, saying it would diversify funding, reduce bank reliance, and strengthen credit flow amid rising capital demand

BS BFSI Insight Summit: 'AI's RoI may be slow, but governance can't wait'

The panelists said that re-skilling will be key to ensuring the workforce remains employable even as disruptive technologies continue to enter the sector

Regulatory reform, capital depth draw global banks to India, say CEOs

At the Business Standard BFSI Insight Summit, CEOs of Citi, HSBC, and Standard Chartered say India's regulatory clarity and deepening markets are strengthening its appeal for global banks

RBI directs banks to offer nomination facility; customers can opt out

New rules effective November 1 require banks to offer nomination at account opening; refusal allowed only with written declaration, says RBI

RBI likely to increase the number of NBFCs under upper layer list

RBI may expand the upper layer of NBFCs amid rising size and interconnectedness, bringing more large public and private sector NBFCs under enhanced regulatory norms

Private banks reduce lending rates more than PSBs in current cycle

Following the RBI's 100-bps policy rate cut, private banks showed faster transmission to lending rates, while PSBs led in passing on deposit rate reductions

Are banks closed on October 20 and 21 for Diwali? Check state-wise dates

Diwali 2025 bank holidays vary across states. Some will observe closures on October 20, others on October 21. Sikkim gets four holidays, Chhattisgarh three, Maharashtra, Gujarat, and UP two days each

Commercial banks may not need RBI approval for floating subsidiaries

Regulator to emphasise on non-duplication of businesses

IndusInd Bank to rebuild senior management team in 6 months: MD & CEO

IndusInd Bank CEO Rajiv Anand outlines three-year plan to boost deposits, expand MSME and retail lending, stabilise microfinance, and strengthen senior management

UCO Bank Q2FY26 results: Net profit increases 2.8% to ₹620 crore

The bank's asset quality improved as gross non-performing assets (NPAs) declined to 2.56 per cent of gross advances at the end of the September quarter from 3.18 per cent a year ago

Indian Bank Q2 results: Net profit rises 11.5% to ₹3,018 cr; NPA improves

Public sector Indian Bank on Thursday reported an 11.53 per cent rise in net profit to Rs 3,018 crore for the second quarter ended September 30 of the current fiscal. The bank posted a standalone net profit of Rs 2,706 crore during the September quarter of 2024-25 fiscal. Interest income rose to Rs 11,964 crore during the September quarter of FY26, from Rs 11,125 crore in the year-ago period. Provisioning against bad loans was down to Rs 739 crore during the quarter against Rs 1,099 crore in the July-September period of the last fiscal. Gross non-performing assets (NPA) improved to 2.60 per cent during Q2 over 3.48 per cent of total loans in September 2024. Shares of Indian Bank were trading at Rs 792.90 apiece, up 2.27 per cent over the previous close on the BSE.

Sweden's cashless society could be more vulnerable to hybrid war attacks

Across the Nordic and Baltic countries, governments are more and more concerned about Russian "hybrid war" attacks