Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
The United Forum of Bank Unions (UFBU) on Thursday said its two-day nationwide strike on March 24 and 25 will be observed as scheduled since discussions with the Indian Banks' Association (IBA) over key demands failed to yield any positive outcome. In a meeting with the IBA, all UFBU constituents raised issues, including recruitment in all cadres and a five-day workweek.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
SBI too rules out cut in base rate in short term, to launch concessional schemes.
Banks have tightened their cyber security network to ward off any cyber threat in the wake of India launching missile attacks on Pakistan and Pakistan-occupied Kashmir. Banks have also improved their security at the branches near border areas due to heightened threat of a counter attack.
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
Bank employees want a five day work week.
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
At a time when the finance ministry is focusing on addressing employee grievances, the number of employees in most public-sector banks (PSBs) has declined over the last three financial years.
The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
They face two key challenges - manpower and capital. Sadly, these are not on the agenda for reform
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
rediffGURU Dr Ganesh Natarajan tells you how to upskill and upgrade yourself in order to future-proof your career.
Amid liquidity tightness in the banking system, certificate of deposit (CD) rates topped 8 per cent for some smaller banks, with rates remaining on the higher side for derivatives loss-hit IndusInd Bank. On Thursday, CSB Bank raised Rs 100 crore via one-year CDs at 8.5 per cent, while Utkarsh Small Finance Bank issued three-month CDs at 8.05 per cent to raise Rs 50 crore.
Finance Minister Nirmala Sitharaman on Saturday said the GST rates will come down further and the work on rationalising tax rates and slabs has "almost reached a finale". She said that the revenue neutral rate (RNR) has come down from 15.8 per cent at the time of the launch of GST on July 1, 2017, to 11.4 per cent in 2023.
The mergers will not involve any cash but only share swaps
Department of financial services secretary Sanjay Malhotra held a meeting with heads of PSBs, insurance companies and financial institutions for identifying ways to support Agniveers on completion of their tenure of duty.
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
Giving a pat on the back of public sector banks, Finance Minister Pranab Mukherjee on Friday said the Indian banking sector has responded well to difficult global environment by meeting credit needs of the economy.
In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
'AI analyses body language, etiquette, and communication skills, providing an in-depth performance matrix and a ranking system to help employees identify areas of improvement.'
'When you have the best market at your doorstep, international diversification is a distraction.'
Finance Minister Arun Jaitley said that at a time when the private sector has been somewhat conservative in investments, public investment always takes the lead.
A report by The Boston Consulting Group notes the human resource challenge for public sector banks due to large-scale retirement.
The pace of loan growth among public sector banks (PSBs) has seen a surge in the financial year 2024-25, and this is an exception to the overall moderation in bank credit during FY25. PSU banks' share in incremental credit rose to 57.3 per cent in March from 51.7 per cent a year ago, according to the Reserve Bank of India's (RBI's) Monetary Policy Report (April 2025).
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
Since public sector banks are unlikely to be privatised soon, the aim has to be to make as many of them perform as is possible.
Despite sharp interest rate cuts expected in this financial year amid easy liquidity conditions, state-run banks are treading cautiously on their loan growth projections for FY26. Most large banks are projecting loan growth at 11-13 per cent, almost similar to the previous financial year.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
Customers using e-commerce websites are young and techno-savvy.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
Non-Performing Assets are a wake-up call for public sector banks.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
Foreign investors did not lap up the new SBI issue because of deeper worries about public sector banks
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances