In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
Public-sector banks (PSBs) in India have reported an 11.2 per cent year-on-year rise in net profit, reaching a record 1.98 trillion in FY26, marking their fourth consecutive year of profitability, driven by sustained business growth, improved asset quality, and strong capital positions.
The Haryana government is launching an initiative to equip its employees with artificial intelligence (AI) skills through the iGOT Karmayogi platform, aiming to enhance governance and public service delivery.
Loans to micro, small and medium enterprises (MSMEs) in India saw moderated growth in April 2026, with early signs of stress emerging among micro borrowers and manufacturers, according to a report by credit bureau CRIF High Mark. The slowdown is attributed to potential impacts of global uncertainty.
The Economic Offences Wing (EOW) of Odisha Police has arrested another person from Bhubaneswar for his alleged involvement in a bank loan fraud case worth Rs 6.88 crore.
The CBSE revaluation portal experienced a cyber attack, affecting the payment system and leading to unauthorised access for approximately 50 students. The incident caused fee display abnormalities, prompting investigations and system enhancements.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
Tata Consultancy Services has partnered with French artificial intelligence firm Mistral to provide frontier grade AI solution, Mistral Forge, for enterprises across the world.
The Defence Research and Development Organisation (DRDO) and the Indian Air Force (IAF) have successfully conducted flight tests of the RudraM-II air-to-surface missile, marking a significant milestone in indigenous defence technology.
Union Finance Minister Nirmala Sitharaman has urged an increased focus on '3Fs'-fuel, fertiliser, and forex-to maintain India's economic resilience amidst the West Asia crisis, while also criticising those who spread pessimism.
State-owned Life Insurance Corporation of India (LIC) has reported a net profit of over Rs 23,400 crore for the January-March quarter, making it the highest profit-making firm in the Indian financial sector during this period, surpassing major banks like SBI and HDFC Bank.
'DRDO has been directed to license missile technologies to the private sector.'
The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
The Reserve Bank of India (RBI) is anticipated to make its highest-ever dividend payment to the government this year, providing a significant fiscal boost to address challenges, including those stemming from the ongoing Middle East crisis.
India's mutual fund industry has significantly increased its share of public trading in the stock market, widening its lead over the Life Insurance Corporation of India (LIC) for the fifth consecutive year. While LIC's share of free-float listed shares has fallen to 7.42% as of March 2026, the mutual fund industry's share has surged to 22.92% from 7.06% in 2012.
A Bank of Baroda employee in Ahmedabad has been arrested for allegedly stealing Rs 8.7 crore from an RBI currency chest and laundering the money into properties and cryptocurrency.
The Indian government has issued a stern warning to industrial users who are reportedly procuring cheaper retail fuel instead of industrial-grade fuel, leading to significant losses for state-run oil marketing companies (OMCs) and potential local shortages. This diversion, driven by a substantial price difference between retail and bulk diesel, is adversely impacting OMCs, which are absorbing daily losses of approximately 550 crore to keep retail prices stable.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The Nizam's Institute of Medical Sciences (NIMS) in Hyderabad has achieved a significant milestone by completing 2,000 kidney transplants, making it one of the leading institutions in India for this procedure. The majority of these transplants were performed free of cost under government schemes.
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
India's move to privatise PSLV rocket production through IN-SPACe has triggered debate over national security, ageing technology and the agency's role.
The Competition Commission of India (CCI) has approved the acquisition of a stake in AI acceleration cloud provider Neysa Networks by Blackstone-backed private equity funds and other investors, following Neysa's announcement of a USD 1.2 billion capital raise.
ServiceNow, a leading AI platform for business transformation, is highly optimistic about its growth prospects in the Indian market, according to President and Chief Product Officer Amit Zavery.
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
Rajasthan Chief Minister Bhajanlal Sharma announced the state's focus on improving girls' education through infrastructure development and quality education initiatives. The government is also prioritising development in sectors like power and water, and aims to generate jobs in both the private and public sectors.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
The CBI conducted searches at 17 premises in Mumbai related to Reliance ADA Group companies, including Reliance Telecom and Reliance Finance, concerning alleged diversion of bank funds and losses to banks and LIC.
Male central government employees are entitled to 15 days under service rules and provisions in the private sector depends on the company's policy.
Indian defence stocks have seen an average year-on-year gain of 67 per cent, driven by renewed interest following 'Operation Sindoor' and a broader increase in global geopolitical tensions, with the combined market capitalisation of 18 firms increasing by approximately 2.3 trillion.
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
The government is planning a postal logistics infrastructure upgrade for India Post to modernise parcel facilities, aligning them with those in developed nations, according to Communications Minister Jyotiraditya Scindia.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
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