Public Sector Banks

Three-day PSU bank strike may dent life insurers' September sales by 10-15%

A three-day public sector bank strike at the end of September could reduce life insurers' business through the bancassurance channel by 10-15 per cent, industry officials say

Keep banks open

Rotation of staff can be considered

FinMin asks PSB chiefs to limit impact of proposed 3-day bank strike

Public sector banks have issued advisories asking customers to complete important transactions in advance and use digital channels during the September 28-30 strike.

Govt urges bank unions to call off strike, flags half-year closing impact

The finance ministry warned that the September 28-30 strike, combined with the preceding weekend, could effectively disrupt banking services for five consecutive days

FinMin to meet bankers ahead of three-day staff strike next week

The finance ministry will meet chiefs of PSBs, RRBs, IBA and Nabard to review contingency plans ahead of the three-day nationwide bank strike from September 28

Private banks' deposit growth outpaces PSBs' by nearly 350 bps at June-end

Private banks' deposits grew 13.8% in June, outpacing PSBs at 10.3%, while bank credit surged 16.5%, widening the gap with deposit growth

Govt pulls plug on ECLGS just over 3 months after launch; banks in a fix

ECLGS 5.0 was meant to run until March 2027, but its ₹2.5 trillion guarantee allocation was exhausted within months, leaving banks and borrowers with sanctioned but undisbursed loans

Smaller PSBs may partner larger peers to expand their credit card business

Proposals discussed at the PSB Confluence include co-branded cards, data-led customer acquisition, business cards for MSMEs and financial literacy before activation

PSBs turn 'Banking for Youth' into an entry-level hiring pipeline

State-owned banks plan to use the MY Bharat portal to offer internships and training to young people and build a pipeline for recruitment into entry-level banking jobs

Build relationship with youth: FM Nirmala Sitharaman to PSBs

Sitharaman also asks state-owned banks to strengthen priority-sector lending and launch a month-long 'Banking for Youth' campaign from October 2

PSBs target nearly $30 billion under RBI's concessional forex swap window

State-owned banks are targeting nearly $30 billion through foreign currency deposits and borrowings under the RBI's concessional swap window as inflows remain robust

Indian Bank aims to more than double business to ₹35 trillion by 2032

The public sector lender plans to strengthen its presence in Delhi and Mumbai while relying on MSME growth and financial inclusion to achieve its long-term business target

Monsoon Session: PSBs' profit nearly trebled in 5 years, says FinMin

Public sector banks posted a record ₹1.98 trillion profit in FY26 as bad loans hit a historic low and credit growth remained strong across retail, MSMEs and agriculture

Gold loan-backed PSLC sales boost PSBs' non-interest income in Q1FY27

Strong growth in gold loan portfolios enabled public sector banks to exceed priority sector targets and earn higher fee income by selling surplus PSLCs in the June quarter

A midnight arrest and the anatomy of a bank fraud by a trusted insider

An insider with a password is the new fraudster. Usually, in their mid-30s, well versed with banking operations, computer-savvy, and well behaved. They appear to be workaholics

FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive

Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) on Monday to review the progress of the foreign currency deposit mobilisation campaign being undertaken by the lenders. In a bid to attract foreign currency deposits by Non-Resident Indians, Overseas Citizens of India, and Persons of Indian Origin, the Reserve Bank of India last month withdrew, till September 30, interest rate ceiling on fresh Foreign Currency Non-Resident (Bank) deposits of 3-5 years' maturity. The move came at a time when FCNR(B) deposit inflows weakened sharply, with net inflows dropping to just USD 946 million in FY26 from USD 7.1 billion in FY25. The Finance Minister will chair the meeting of chiefs of PSBs and financial institutions, including IDBI Bank, on mobilisation of FCNR(B) deposits, Overseas Foreign Currency Bonds and External Commercial Borrowings on July 13, sources said. Under the new arrangement, the RBI is offering a concessional foreign exchange swap facility

Indian Bank, Bank of Maharashtra begin Q1 earnings season on a high

Indian Bank looks to mobilise $2 bn in FCNR (B) deposits

PSU banks' loan growth outpaces deposits in first quarter of FY27

Public sector banks started the first quarter of FY27 on a strong footing, reporting double-digit growth in advances, but deposit mobilisation seemed to be trailing the jump in loans. Retail loans remained the key growth engine even as low-cost CASA deposits stayed under pressure. Provisional business disclosures, compiled by PTI, by nine of the 12 state-owned lenders for the quarter ended June 30, showed loan growth ranging from around 12 per cent to nearly 29 per cent year-on-year compared to deposit growth of 3.5-16 per cent, reflecting sustained credit demand despite a slower pace of liability mobilisation. Among the major lenders, Bank of Baroda reported a 17.4 per cent year-on-year rise in global advances against a 13.8 per cent increase in deposits, while Bank of India posted 18.64 per cent loan growth and a 14.92 per cent rise in deposits. Punjab National Bank's advances grew 12.85 per cent year-on-year compared to an 8.5 per cent increase in deposits. Canara Bank reported

A quiet exodus: Why young bankers are walking out of public sector banks

Young officers are quietly leaving public sector banks as career bottlenecks, transfers and shrinking growth opportunities erode the appeal of banking careers

Banks' supervisory data quality score slips marginally in March quarter

The RBI's Supervisory Data Quality Index for scheduled commercial banks eased to 90.7 in March 2026, with declines in accuracy and timeliness offset partly by gains elsewhere