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Bank unions across India have announced a nationwide strike on February 12. The All India Bank Employees’ Association (AIBEA), All India Bank Officers Association (AIBOA), and Bank Employees Federation of India (BEFI) have invited their members to participate in the strike, alongside 10 Central Trade Unions (CTUs). The unions are protesting against four new Labour…
NEW DELHI: The Supreme Court on Monday said banks must devise an AI-based mechanism to flag all suspicious transaction from an account, issue alerts, and suspend the transfer until the transaction is authenticated with the account holder. A bench of Chief Justice Surya Kant, Justices Joymalya Bagchi and N V Anjaria said the home ministry…
Public sector banks posted a record cumulative profit of Rs 52,603 crore in the third quarter of the current financial year, marking an 18 per cent year-on-year rise, led by strong performance from the country’s largest lender State Bank of India (SBI).All 12 public sector banks (PSBs) had posted a combined profit of Rs 44,473…
Public sector banks (PSBs) are expected to cross the Rs 2 lakh crore combined profit mark in the current financial year, buoyed by strong balance sheets, steady credit expansion and improved asset quality, Financial Services Secretary M Nagaraju said.Speaking to PTI in an interview, Nagaraju said the Indian banking system remains resilient, supported by regulatory…
Two fidayeen women led attacks through Balochistan targeting govt offices, banks As a 24-hour wave of synchronised violence swept through Balochistan over the weekend, the Baloch Liberation Army (BLA) released the photos of two women fidayeens — Asifa Mengal (23) and Hawa Baloch (24) — who carried out the attacks on symbols of Pakistan’s authority…
The Finance Ministry is considering raising the foreign direct investment (FDI) limit in public sector banks (PSBs) to 49 per cent from the current 20 per cent to strengthen their capital base, PTI reported.“We are still considering, and inter-ministerial consultation is on for raising FDI cap to 49 per cent,” Financial Services Secretary M Nagaraju…
The Centre is budgeting a record Rs 3.2 lakh crore in dividends from the RBI and public sector banks in 2026-27, creating a strong non-tax cushion to keep the fiscal deficit in check.For 2025-26, the govt has raised the dividend estimate to Rs 3.04 lakh crore, up Rs 44,590 crore from the budgeted Rs 2.56…
Planning to visit a bank in February? It’s smart to check the holiday schedule first, as an unexpected closure can turn a quick errand into a wasted trip. In India, banks observe both national and state-specific holidays, so closure dates may differ from one region to another. In India, bank holidays include both national and…
New Delhi: India has agreed to allow EU banks to open 15 branches over four years, while binding foreign direct investment in insurance at 100%, the newly liberalised ceiling, in return for a more stable visa regime for its employees and professionals working in member countries.A relaxation on bank branches was not given to the…
Amid the backdrop of Budget 2026, India may need to revisit long-standing restrictions on voting rights in private sector banks if it wants to build stronger lenders capable of supporting the country’s long-term economic ambitions, according to experts.Vijay Mani, Partner and Banking and Capital Markets Leader at Deloitte India, and Russell Gaitonde, Partner, said the…
