Tag: public sector banks
BANKING & FINANCE FM Calls For Sharper PSL Monitoring, Youth-Focused Banking Campaign

Union Finance and Corporate Affairs Minister Nirmala Sitharaman has called upon public sector banks (PSBs) to sharpen monitoring of priority sector lending (PSL) targets and sub-targets, while ensuring that credit reaches intended beneficiaries in a productive and timely manner. Addressing the concluding session of the two-day PSB Confluence 2026, Sitharaman stressed the need for granular […]

CW Bureau · Aug 19, 2026
BANKING & FINANCE Govt Pushes Public Sector Banks To Prepare For Next Phase Of Growth

The first day of the two-day PSB Confluence 2026, organised by the Department of Financial Services (DFS), Ministry of Finance, brought together senior leadership of public sector banks (PSBs), public financial institutions (PFIs), government officials and domain experts to identify strategies for the next phase of India’s banking and financial sector growth. The Confluence is […]

CW Bureau · Aug 17, 2026
STARTUP/TECHNOLOGY Paisalo Digital BC Channel Crosses $1 Bn In Total Gross Transaction Value

NBFC firm Paisalo Digital Ltd’s Business Correspondent (BC) channel has crossed $1 billion in cumulative gross transaction value (GTV), marking a key milestone in its distribution franchise and last-mile delivery capabilities. The milestone highlights the growing scale of Paisalo’s BC ecosystem and the increasing customer engagement across the channel. BC network expands The company has […]

CW Bureau · Aug 10, 2026
BANKING & FINANCE SBI Q1 Profit Rises 10% To ₹21,121Cr; Advances Cross ₹50 Lakh-Cr Mark

State Bank of India (SBI), the country’s largest lender, reported a 10.23% year-on-year increase in net profit to ₹21,121 crore for the first quarter ended June 30, 2026, driven by healthy growth in net interest income, advances and improved asset quality. The bank’s operating profit rose 9.77% to ₹33,529 crore, while net interest income (NII) […]

CW Bureau · Aug 7, 2026
BANKING & FINANCE Credit Card Spending Growth Tapers To 7.1% In April Post Fiscal-End Surge

India’s credit card spending growth moderated in April 2026 following elevated spending activity during the March fiscal year-end period, even as digital payments and e-commerce transactions continued to support overall consumption trends. According to a CareEdge Ratings report, aggregate credit card spending rose 7.1% year-on-year to ₹1.98 lakh crore in April 2026. However, spending moderated […]

CW Bureau · May 29, 2026
BANKING & FINANCE PSBs Post Record ₹1.98 Lakh-Cr Profit In FY26; Bad Loans Hit Historic Lows

India’s public sector banks (PSBs) delivered another year of strong financial performance in FY2025-26, powered by robust credit growth, sharply improved asset quality and record profitability, underlining the sector’s growing strength in supporting the country’s expanding economy. The aggregate business of PSBs rose 12.8% year-on-year to ₹283.3 lakh crore as of March 31, 2026, driven […]

CW Bureau · May 12, 2026
BANKING & FINANCE Canara Bank Q4 Net Dips By 10% To ₹4,506 Cr On Lower Other Income

Public sector lender Canara Bank reported a 10% decline in standalone net profit for the March quarter at ₹4,506 crore compared with the corresponding period last year, impacted by lower other income and decline in operating profit. Interest income increased 2.7% to ₹31,838 crore, while non-interest income contracted 24% to ₹4,824 crore. Fee-based income, however, rose […]

CW Bureau · May 11, 2026