Public Sector Banks

Govt needs to revive NITI's PSU, PSB privatisation program: Panagariya

The government needs to resuscitate privatisation of public sector undertakings (PSUs) as well as public sector banks (PSBs) as it is integral to India's economic reforms, former NITI Aayog vice chairman Arvind Panagariya said on Monday. Panagariya also advocated creating an independent privatisation ministry to accelerate the government's disinvestment agenda, as the Department of Disinvestment has been unable to maintain the pace of privatisation. "I firmly believe that, regardless of fiscal pressures, the privatisation of PSUs and most public sector banks is integral to our economic reforms," he told PTI in an interview. Panagariya said aggressive PSU and bank privatisation should proceed regardless of the West Asia crisis and geopolitical uncertainties. "Modernisation of the economy as a part of our India@2047 movement, we need to resuscitate the PSU and PSB privatisation," he said. Under Panagariya, the then NITI Aayog vice chairman, the government think tank had pursued the

Brajesh Kumar Singh takes charge as Canara Bank MD and CEO till 2029

The former Indian Bank executive director assumes leadership of the state-owned lender, filling a vacancy that arose after K Satyanarayana Raju's retirement

DFS secy advises PSU banks to ramp up preparedness amid West Asia war

DFS Secretary M Nagaraju reviewed PSU banks' performance and urged them to remain prepared and adaptable in view of the evolving situation in West Asia

Govt to offload up to 8% stake in Central Bank of India through OFS

The government will begin an offer for sale in the Central Bank of India on Friday, with a base offer of 4 per cent stake and an additional 4 per cent green shoe option

India's second largest PSB, Bank of Baroda, aims to double size in 5 yrs

Debadatta Chand, chief executive officer of the bank, which absorbed two state-run lenders in 2019, said larger balance sheets will be crucial as lenders look to compete globally

PSBs' net profit up 11.2% in FY26, hits new high of ₹1.98 trillion

Public sector banks posted record profitability for the fourth straight year in FY26, aided by strong credit growth, improved asset quality, and better operational efficiency

Empty chairs: Government should not delay board appointments at PSBs

Over the years, the government has made significant intervention in institutionalising the appointment processes. But of late, action seems to have lagged

Public sector banks to scale up IT spend amid Anthropic Mythos cyber threat

Public sector banks are bracing up to increase IT spending in order to secure their systems, safeguard customer data, and protect monetary resources amid global concerns over Anthropic's Claude Mythos AI tool and its potential implications for financial data security. Mythos' advanced coding capabilities give it an unprecedented potential to detect cybersecurity weaknesses and develop methods to exploit them, sparking concerns that it could be used to disrupt banking systems. In view of this new challenge, banks have to definitely increase their investments in IT to make their system more robust and reduce vulnerabilities with regard to cyber attacks, Punjab & Sind Bank MD and CEO Swarup Kumar Saha told PTI. He said the bank is going to increase its IT spending this financial year to meet the challenges posed by new technology. Besides, UCO Bank MD and CEO Ashwani Kumar said the bank's IT spending is going to be higher than last financial year, and a major part would go towards ...

FinMin asks PSBs to complete wage revision process in next 12 months

The government has asked public sector banks to initiate the process of negotiations for the 13th Bi-partite settlement in a time-bound manner and finalise it in the next 12 months. The wage revision for employees and officers of public sector banks would be due from November 1, 2027. Public sector banks (PSBs) and financial institutions, including insurance companies revise wages of their employees every five years. As part of the settlement, the Indian Banks' Association (IBA) is expected to engage in dialogues with the employees' unions/associations and arrive at a mutually agreeable wage settlement. As the timely conclusion of the settlements is essential for maintaining industrial harmony, the Department of Financial Services advised Public Sector Banks (PSBs) in a communication to their heads to initiate the necessary measures to commence negotiations for the impending wage revision. PSBs are advised to complete the negotiation process within a maximum period of 12 months, th

Bank of Maharashtra hits 52-week high on strong Q4; HDFC Sec retains 'Buy'

Bank of Maharashtra posted a 34.89 per cent year-on-year (Y-o-Y) surge in net profit to ₹2,014.09 crore, compared to ₹1,493.08 crore in the March quarter of FY25

MP govt withdraws five-year ban on Bank of Baroda within 24 hours

The state government reversed its five-year ban on Bank of Baroda within a day, following the lender's representation over alleged lapses in fund transfers under a state scheme

The story behind promotions in PSBs and the growing need for reform

The challenge is to transform the promotion process from a source of distrust to a catalyst for developing genuine leaders

Valuations favour private banks over PSBs: Kotak Institutional Equities

Kotak Institutional Equities is bullish on private banks over PSU banks peers citing better valuations and risk-reward.

A political choice: India's stunted bond market beyond technical fixes

Developing a deep corporate bond market requires the political will to relinquish control over credit, not technical fixes

PSBs gain traction in MSME segment; SBI leads the pack: Motilal Oswal

Based on interactions with direct selling agents (DSAs) across western India, Motilal Oswal said MSME credit demand remains healthy in Q4FY26

Gold loan disbursements surge 94% in Q3FY26: Equifax Retail Insights

Gold loan disbursements nearly doubled in Q3 FY26 as borrowers favoured gold-backed credit, with NBFCs leading growth and PSBs contributing the largest share, Equifax data shows

PSU banks extends rally, gain up to 4%; SBI, BoB, Indian Bank hit new highs

In the past one month, the Nifty PSU Bank index has soared 12 per cent, as compared to 2.7 per cent decline in the Nifty 50.

PSBs outperform private peers yet again as quarterly profits hit new high

The combined net profit of listed universal banks crossed Rs 1 trillion for the first time in a quarter, in December, with three banks contributing at least 50% to it

DFS secy urges banks to lower cost of borrowing for small-ticket biz loans

DFS Secretary M Nagaraju asked banks to lower borrowing costs for small-ticket business loans and expand credit, stressing PSBs' strong capital position and upcoming digital lending portals

Bank unions calls DFS move to revise PLI framework 'discriminatory'

UFBU alleges proposed changes to performance-linked incentive structure in public sector banks are discriminatory and violate status quo agreed during conciliation