Category: Banking And Finance

(RBI) is examining a complaint received against for "repeated instances of at a ‌discounted ⁠value", ⁠India's junior finance minister Pankaj Chaudhary told lawmakers on Tuesday.

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The ​complaint received in February ​2026 is under examination, he said.

A final order in the complaint received in October 2024 is pending, the minister ‌said. "The sale of asset by the secured creditor ​was a ​commercial ⁠judgment of the concerned entity," he said.

The minister's written response did not ​share further details.
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Standard Chartered Bank India did not immediately respond to an email seeking comment. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}

Private sector and state-run raked in around 19,000 crore from account holders for not maintaining minimum balance in three financial years — 2022-23 to 2024-25, as per a Times of India report.

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Among private banks, collected the maximum of Rs 3,872 crore, followed by , while in case of public sector banks, () topped the list.

, the country’s largest bank, waived off penal charges for not maintaining minimum balance in saving accounts since March 2020. Taking cue from it, another nine public sector banks, such as PNB and , have done away with such charges for savings bank accounts since last year, while two others have also rationalised this charge. However, private sector banks are charging the penalty for not maintaining minimum balance.

In a written reply, finance minister Nirmala Sitharaman said, “The amount of Rs 8,092.8 crore collected over the last three financial years constitutes approximately 0.2% of the total income of Public Sector Banks during the same period, indicating that such charges form only a very small proportion of banks’ income and are primarily aligned with the cost of providing banking services rather than revenue generation through penalties.”
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The FM said about 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, are not subject to any penal charges for non-maintenance of minimum balance. She said banks offer zero-balance savings accounts facility for these accounts to ensure universal access to banking facilities, particularly for unbanked, vulnerable and small depositors, and to promote financial inclusion.

(With inputs from TOI)

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Chennai: Private sector South Indian Bank has launched the Employees' Provident Fund payment services through its internet banking platform SIBerNet, in collaboration with the EPFO, a top official said on Thursday.

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South Indian Bank Managing Director and CEO P R Seshadri said, "The launch of EPF payments through SIBerNet marks another step forward in our commitment to providing seamless and secure digital banking solutions to our customers."

In a press release, he said, "By enabling direct integration with EPFO, we aim to simplify statutory payments for employers and businesses, while strengthening our digital ecosystem to support compliance and convenience."
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With the successful completion of integration between the Thrissur-based bank and EPFO, employers, establishments can now remit EPF contributions, dues, remittances and related charges directly through the EPFO portal using South Indian Bank's net banking facility, the release added. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}

Mumbai: (PSBs) continued to outpace private sector peers in in the December quarter of FY26, with loan growth of around 17-28% year-on-year, compared with 11-16% for private banks. As a result, PSBs' market share in loans rose to 54.4% at the end of December 2025, up from 53.11% a year earlier. In contrast, private banks saw their share decline to 40.6% from 41.07% during the same period.

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"Most PSBs reported above-system credit expansion and gained around 50 basis points of loan market share during the quarter," said Pranav Gundlapalle, head of India Financials at Bernstein. "Stronger credit momentum also helped PSBs edge ahead in NII growth despite a less favourable funding mix, as higher loan-to-deposit ratios offset margin pressures."



He added that while deposit growth differentials between PSBs and private banks remained narrow, the more notable shift was in profitability. "PSBs delivered stronger RoA expansion, while several mid-sized private banks faced profitability pressures," Gundlapalle said.
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Part of the moderation in private bank growth reflects the sharp slowdown in HDFC Bank's loan expansion amid its ongoing balance sheet realignment following the merger with HDFC Ltd. ICICI Bank's growth has also normalised in recent quarters, tracking closer to or slightly below system averages.

In contrast, most PSBs reported above-system credit growth in the December quarter, with large state-run banks materially outperforming their large private sector peers. As a result, PSBs gained roughly 50 basis points of loan market share during the quarter, largely at the expense of the top five private banks, even as mid-sized and smaller private lenders broadly held on to their shares, as per an analysis by Bernstein.

"PSBs continued to exhibit robust performance in the December quarter, with net profit rising 17.5% year-on-year to '55,000 crore," said Sanjay Agarwal, senior director at CareEdge Ratings. "Profitability was supported by higher treasury gains and recoveries from technically written-off accounts."

He added that PSBs' relatively lower credit-to-deposit ratio of 81.7% as of December 2025 has given them greater balance sheet headroom to support credit growth. In comparison, private banks reported modest net profit growth of 3.2% YoY. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}

Kolkata: has decided to raise lending rates by 10 basis points for two-to-three year tenure.

#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} The state-owned lender Wednesday announced that it will increase the marginal cost of funds based lending rates (MCLR) from Thursday. The two year will be 8.95% from Thursday, revised from 8.85% while three year MCLR will be 9% against 8.90%, the bank said in a regulatory filing to stock exchanges.

About half of the bank's loan portfolio is linked to MCLR. Its loan portfolio stood at Rs 11.92 lakh crore at the end of December last year.

Meanwhile, Bank of Baroda and Uco Bank Tuesday said that they kept their respective MCLR rates unchanged. Uco Bank however reduced treasury bill-linked benchmark rates by 5 basis points for three months and six months while keeping the 0ne-year rates unchanged. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}

New Delhi: The Enforcement Directorate conducted searches at 19 locations on Wednesday in connection with alleged embezzlement of Rs 590 crore from the Haryana government's accounts maintained with in Chandigarh, sources said.

#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} The agency conducted searches in Haryana and Chandigarh against various business entities who helped the accused persons get accommodation entries to conceal the money trail and proceeds of crime, they said.
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The funds were supposed to be deposited by various government departments of the state in the bank but instead of being deposited in the FDs, these were allegedly diverted by the various accused persons for their personal purpose, the sources said.

In its investigation, the ED conducted searches on various business entities which have given accommodation entries to the main accused persons, ex-bank officials, certain beneficiaries of the alleged scam and real estate agents where the proceeds of crime have been dissipated, they said.

The primary probe showed that huge funds have been transferred to the various shell companies and minor jewellery entities routed through various shell companies and layered through huge transactions and finally siphoned off under the guise of gold purchase and investment into real estate sector, the sources said.
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Significant amount of cash withdrawals has also been noticed in the said money trail with name of Chandigarh-based hotelier Vikram Wadhwa, involved in construction of real estate projects in the Tricity, has cropped up in this case who absconded after the news about the alleged scam came to limelight, they said. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .live_stock p a{color: #fff;;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}