Page 8 - Banks

Banks need to further improve their customer service: DFS secretary

Banks are more stable and healthier, but there is scope for improvement on the customer service side, Financial Services Secretary M Nagaraju said. "Today, banks are more stable and healthier. While good customer service is being provided across the board, there is still scope for improvement to ensure we bring a genuine smile to every customer's face," he said on the 118th foundation day of Punjab & Sind Bank on Wednesday. On the occasion, the bank launched a series of new and smart branches designed to deliver superior customer experiences and seamless digital services. The bank also virtually launched its CASA Back Office in Chandigarh, a strategic step towards streamlining operations and further strengthening customer service delivery, Punjab & Sind Bank said in a statement. Additionally, the bank launched cash flow-based digital lending products designed specifically for MSME customers, strengthening its support for the country's small businesses. "These initiatives ...

Govt cancels Pankaj Dwivedi's appointment as Union Bank executive director

In an unusual step, the Centre cancels Pankaj Dwivedi's appointment as Union Bank ED without citing a reason, following reports of a pending sexual harassment chargesheet

PSBs' loan growth to outpace private banks in FY26: Fitch Ratings

PSBs' loans grew by 12.4 per cent while private peers lagged with 7.5 per cent in FY25

Strong FY25 performance supports standalone credit profiles of banks: Fitch

Fitch Ratings on Monday said Indian banks' strong financial performances in the financial year ended March 2025 support the standalone credit profiles of rated banks and position the sector for future growth. The sector reported improved asset quality, stronger capital buffers and stable profitability despite the slowest sector loan growth in four years. "We expect steady performance to continue, though sustaining sound core financial metrics that strengthen loss-absorption buffers and resilience to economic shocks relative to the previous cycle would support positive momentum for rated banks' standalone credit profiles," Fitch said. The rating agency believes banks can sustain steady performance across most credit metrics in FY26, except for earnings due to cyclical pressures on margins and credit costs. "Indian banks' strong financial performances in the financial year ended March 2025 (FY25) support the standalone credit profiles of rated banks and position the sector for future

Yes Bank extends CEO's tenure by 6 months: Move to help SMBC steer strategy

RBI extends Yes Bank CEO Prashant Kumar's tenure till April 2026 to allow new shareholder SMBC time to decide on leadership after completing the ownership transition

RBI relief for project finance, only 1% provision in construction phase

Banks welcome RBI's final project finance guidelines that lower provisioning to 1 per cent during construction and exempt existing projects from higher requirements

Banks' supervisory data quality index improved in March 2025, says RBI

RBI reports sDQI for scheduled commercial banks improved to 89.3 in March 2025; small finance banks scored above 90, reflecting higher data accuracy and compliance

RBI eases KYC rules: What’s changing for you from 2026 | RBI KYC guidelines

The Reserve Bank of India has introduced significant changes to simplify the Know Your Customer (KYC) process. From mandatory reminders before freezing accounts to allowing kirana shop owners to help

Bank of Maharashtra cuts retail loan rates by up to 50 bps post RBI move

Bank of Maharashtra, Bank of Baroda and other PSU banks cut lending rates following RBI's 50 bps repo rate reduction, with home loans now starting at 7.35 per cent

Union Bank, Canara Bank, IOB cut lending rates by 50 bps after RBI move

Following a 50 bps policy rate cut by RBI, Union Bank revises its external benchmark lending rate, easing loan costs for retail and MSME borrowers

State Bank of India hires 13,455 junior associates for customer service

The recruitment is aimed to fill vacancies across 35 states and Union Territories, making it one of the significant hiring initiatives in the industry, the bank said in a press release

Bank holiday today: Are banks shut on June 11 for Kabir Jayanti, Saga Dawa?

Bank holiday today: Banks in two states are closed today, June 11, 2025, due to Sant Guru Kabir Jayanti and Saga Dawa. Check holiday details and services available

RBI rejects Annapurna Finance's application for setting up universal bank

The Reserve Bank has rejected the application of Annapurna Finance Private Limited for setting up a universal bank. In a statement on Friday, the RBI said it has completed the examination of the application of Annapurna Finance Private Limited for setting-up a universal bank. "Based on the assessment of the application as per the procedure laid down under extant guidelines, the applicant was not found suitable for granting of in-principle approval to set up a universal bank," it said. The central bank had received the application under the guidelines for 'on tap' licensing of universal banks.

Govt flags bank staff safety, services operations to chief secretaries

Writes to chief secys after incidents of people behaving inappropriately with bankers

Is banks' earnings dominance in Nifty50 fading? A deep dive

Bank stocks: Banks, Elara Capital said, saw softer earnings in Q4 as credit growth remained subdued, even as deposit mobilization improved.

Bank holidays 2025: Banks to be closed this week for 2 days across India

Banks will be closed for two days this week in many cities nationwide due to Eid al-Adha or Bakrid 2025. However, online banking services remain available during the holidays

Banks make a killing from TREPS, standing deposit facility arbitrage

The SDF window, which came into effect from April 2022, offers 25 bps lower than the policy repo rate

June 2025 bank holidays: Keep your banking on track with these dates

Check out the dates and tips to keep your banking smooth with digital services, even when branches are closed

Canara bank waives minimum balance requirement for all SB accounts

Change effective from June 1, customers will no longer have to maintain a minimum balance in their savings bank accounts

Yes Bank to boost retail book with strong focus on internal customers

The bank plans to grow its retail book by 10-12% in FY26, reduce the cost of deposits, and improve asset yields