State Bank of India(SBI) Ordered to Pay Rs.7 Lakh Compensation for Delay

The State Bank of India (SBI) has been ordered by the District Consumer Disputes Redressal Commission, Kanpur Nagar to compensate an advocate who was unable to attend a recruitment exam due to the bank's failure to deposit his examination fee with ₹7,00,000. According to the Commission, the complainant suffered "irreparable physical, mental, and economic loss" as a result of this failure. 

 On October 16, 2018, an advocate named Mr. Avnish Verma filed a complaint against the SBI Chairperson, SBI Nodal Officer, and Branch Manager of the SBI Krishna Nagar Branch in Kanpur Nagar. Mr. Verma was eligible to take the UP Public Service Commission's (UPPSC) 2015 Assistant Prosecution Officer (A.P.O.) preliminary test. He deposited the necessary ₹225 at SBI Krishna Nagar in order to take the main exam.

Nevertheless, the fee was not deposited into the UPPSC account by the bank clerk. Rather, a general receipt (No. 41514396) that was invalid for the examination procedure was issued by the clerk. Mr. Verma claimed that the bank employee's negligent, irresponsible, and malevolent actions were to blame for this. 

 The candidate had to amend the fee information on the UPPSC website in accordance with the exam regulations. Two days after paying the charge, Mr. Verma attempted to update the data, but the attempt was unsuccessful. The bank only told him that there was a "technical issue" and requested that he try again at a later time. The update failed once more on December 11, 2015.

Unfortunately December 12, 2015 was Second Saturday (bank holiday) and December 13, 2015 was Sunday (UPPSC deadline). Because of this, he could not complete the process and ultimately missed the opportunity to appear in the A.P.O. 2015 Main Exam. Mr. Verma stated that this mistake caused serious damage to his career prospects, along with mental and financial loss.

Complaint lodged in RBI Ombudsman 

The complainant submitted a complaint to the RBI's Banking Ombudsman on December 11, 2015. On April 8, 2016, the SBI Branch Manager responded by acknowledging the error in a letter of apologies. Mr. Verma refused to accept the Banking Ombudsman's subsequent ruling for SBI to pay ₹10,000 in compensation. 

 He then filed a claim for ₹20,000,000 in compensation with the Consumer Commission. Despite receiving notices, SBI representatives failed to show up before the Commission. Consequently, on May 14, 2019, the Commission moved forward ex-parte. SBI did not pay the ₹300 fee imposed by the Commission, despite later filing a recall application. As a result, on November 17, 2022, their written statement was ruled inadmissible, and they were prohibited from testifying.

The complainant, however, submitted strong documentary proof, including Fee deposit receipt, UPPSC notifications, Complaint to Banking Ombudsman, SBI apology letter, Marksheets and other documents showing past exam performance.

Commission’s Findings

The Commission held that:

* SBI clearly failed to deposit the fee.

* The mistake prevented the complainant from appearing in a major competitive exam.

* This caused irreparable loss to his career.

* The bank admitted its mistake through the apology letter.

* Even the Banking Ombudsman had found SBI at fault.

Final Order of the Commission

The Commission partially allowed the complaint and ordered SBI (all opposite parties jointly and severally) to:

* Pay ₹7,00,000 (Seven Lakh) as lump sum compensation For the complainant’s career loss and mental, physical, and financial suffering.

* Pay 7% simple annual interest From the date of filing the complaint (October 16, 2018) till actual payment.

* Pay ₹10,000 as litigation cost.

The bank must comply with the order within 45 days from the date of judgment.

Read More

Financial Results of PSU and Private Banks for Q2FY26

The public sector and private sector banks have released the financial results for Q2FY26. 

Public Sector Bank

Bank	Results
Bank of India(BoI)	Click Here
Punjab & Sind Bank	Click Here
Central Bank of India	Click Here
Union Bank of India	Click Here
Indian Overseas Bank	Click Here
Bank of Maharashtra	Click Here
State Bank of India(SBI)	Click Here
Punjab National Bank(PNB)	Click Here
Bank of Baroda(BoB)	Click Here
Canara Bank	Click Here
Indian Bank	Click Here
UCO Bank	Click Here

Private Banks

Bank	Results
IDBI Bank	Click Here
Kotak Mahindra Bank	Click Here
IDFC First Bank	Click Here
HDFC Bank	Click Here
ICICI Bank	Click Here
Indusind Bank	Click Here
Federal Bank	Click Here
Bandhan Bank	Click Here
Axis Bank	Click Here

Read More

State Bank of India(SBI) Q2 net profit rises 10% YoY

State Bank of India(SBI)’s Q2 FY26 net profit rose 10 percent year-on-year to Rs 20,159.7 crore, driven significantly by proceeds from the lender’s partial stake sale in Yes Bank. Net interest income rose 3.3 percent year-on-year to Rs 42,985 crore from Rs 41,620 crore for the July-September quarter.

India’s largest PSU bank SBI said it divested 13.18 percent of its equity holding in Yes Bank on 17 September 2025 at Rs 21.50 per share, generating a profit of Rs 4,593.22 crore. The gain has been recognised under exceptional items and will be transferred to the capital reserve in due course.

SBI’s asset quality improved sequentially during the quarter. Gross NPA ratio declined to 1.73 percent from 1.83 percent, with gross NPAs dipping to Rs 76,243 crore from Rs 78,039.7 crore. Net NPA ratio eased to 0.42 percent from 0.47 percent, while net NPAs fell to Rs 18,460 crore from Rs 19,908 crore.

Provisions rose to Rs 5,400 crore compared with Rs 4,757 crore in the previous quarter and Rs 4,506 crore a year earlier. Pre-provision operating profit fell 10.6 percent sequentially and 6.77 percent year-on-year.

The rise in profitability was also aided by certain one-time factors during the quarter. SBI recorded a one-off gain of Rs 4,593.22 crore from its stake sale in Yes Bank and an additional Rs 25.46 crore from the sale of its stake in Jio Payments Bank.

Domestic net interest margin (NIM) dropped 18 basis points to 3.09 percent for the quarter versus 3.27 percent in the year ago period.

Operating profit for Q2 rose by 8.91 percent year-on-year to Rs 31,904 crore from Rs 29,294 crore in Q2 FY25.

The lender's whole bank advances grew by 12.73 percent year-on-year, while domestic advances grew by 12.32 percent year-on-year for the September quarter.

Retail Advances grew by 15.09 percent year-on-year, led by SME advances growth at 18.78 percent year-on-year, and by agri advances growth at 14.23 percent year-on-year and retail personal advances growth at 14.09 percent.

The lender reported interest income of Rs 1,19,654 crore in the quarter under review, up 5 percent from Rs 1,13,871 crore in the corresponding period of the previous financial year.

Meanwhile, the interest expended by the public lender stood at Rs 76,670 crore in the quarter under review, up 6 percent from Rs 72,251 crore in the corresponding quarter of the previous financial year.

Read More

Bank of Baroda(BoB) Q2 profit dips 8%

Public sector lender Bank of Baroda’s (BoB’s) net profit declined by 8.2 per cent year-on-year (Y-o-Y) basis to ₹4,809 crore in the second quarter of financial year 2026 (Q2FY26) amid drop in non-interest income, especially recoveries. It had booked gains for one-off recovery from the corporate account in the year ago quarter (Q2FY25).

 

Bank announced the results after the close of market trading hours. Its shares ended 2.05 per cent higher, closing at ₹278.30 per share on the BSE.

 

The lender’s net interest income (NII) rose by 2.7 per cent to ₹11,954 crore in Q2FY26, compared to ₹11,637 crore in the same quarter ended September 2024 (Q2FY25). Net interest margin (NIM) declined by 15 basis points to 2.96 per cent in Q2FY26 from 3.11 per cent a year ago. However, sequentially, NIM improved from 2.91 per cent in the quarter ended June 2025 (Q1Fy26).

D Chand, managing director and chief executive officer, BoB, said NIM is expected to be range bound in the third quarter and pick-up in the fourth. Bank has guided for NIM to be in 2.85-3.0 range for FY26.

 

The bank’s non-interest income, comprising treasury, fees, commissions, recoveries etc., fell by 32.0 per cent Y-o-Y to ₹3,515 crore in Q2FY26. There was a sharp decline in recoveries from written-off accounts to ₹493 crore in Q2FY26 crore from ₹ 2,525 crore a year ago.

 

Going forward, the recoveries would be about ₹750 crore and treasury income would be ₹1,000-1,200 crore in a quarter, Chand said in virtual media interaction after results.

The provisions for non-performing assets (NPAs) declined sharply to ₹883 crore in Q2FY26, down from ₹1,733 crore a year ago. Bank has made floating provision of ₹400 crore as preparation for shifting to Expected Credit Loss (ECL) regime from April 2027, he said. The tally of floating provisions is now ₹1,000 crore, according to the financial results statement for Q2FY26.

 

BoB’s advances grew 11.9 per cent Y-o-Y to ₹12.78 trillion in Q2FY26. Its retail advances grew by 17.6 per cent Y-o-Y. However, the corporate loan book expanded by just 3 per cent.

 

Chand said the credit growth is expected to be 11-13 per cent in FY26.

The GST reforms has created robust demand for loans in the retail segment including auto and book would grow at 18-20 per cent. The corporate loan book is expected to expand at 10-11 per cent on the back of a sanctioned credit pipeline of ₹40,000 crore and ₹25,000 crore under discussion.

 

Total deposits grew by 9.3 per cent Y-o-Y to ₹15 trillion. The share of low-cost deposits -- current accounts and savings accounts (CASA)-- declined to 38.42 per cent at the end of September 2025, down from 39.52 per cent a year ago.

The bank’s asset quality improved, with gross NPAs declining to 2.16 per cent in September 2025 from 2.50 per cent in September 2024. Net NPAs also declined to 0.57 per cent in September 2025 from 0.60 per cent in September 2024. The provision coverage ratio (PCR), including written-off accounts, stood at 93.21 per cent in September 2025 from 93.61 per cent a year ago.

Read More

DA increase for Bank Employees from Nov-2025

 Dearness Allowance(DA) has been hiked for bank employees from November 2025. The DA has been hiked by 2.80%.

Read More

Canara Bank Q2 net profit rises 19%, asset quality improves

Canara bank's net interest income increasing by 1.47% quarter on quarter (QoQ) but dropping by 1.87% year on year (YoY). Total interest expenses climbed 9.86% YoY to Rs 22,403 crore, while total interest income grew 6.07% YoY to Rs 31,544 crore.

Total expenditure was Rs 30,010 crore, up 10.87% YoY, while total income was Rs 38,598 crore, up 1.41% QoQ and 11.17% YoY. Operating profit increased by 12.20% YoY to Rs 8,588 crore, while provisions jumped by 4.78% YoY to Rs 3,814 crore.

The bank's gross business increased by 13.55% YoY and 4.48% QoQ to Rs 26,78,963 crore. Within this, overseas gross business shot up by 21.66% YoY to Rs 2,02,536 crore, while domestic gross business climbed by 4.45% QoQ and 12.93% YoY to Rs 24,76,427 crore. In terms of lending, both domestic advances at Rs 10,81,428 crore and offshore advances at Rs 69,613 crore, which witnessed a noteworthy 20.34% YoY rise, contributed to the growth of global gross advances to Rs 11,51,041 crore, up 4.99% QoQ and 13.74% YoY.

With domestic deposits at Rs 13,94,999 crore and overseas deposits at Rs 1,32,923 crore, global deposits totalled Rs 15,27,922 crore, gaining 4.11% QoQ and 13.40% YoY. A balanced credit growth trajectory in accordance with rising deposits is shown by the Global Credit-Deposit (C-D) Ratio, which rose slightly to 75.33%. In the September 2025 quarter, Canara Bank's domestic deposit base grew steadily thanks to solid performance across multiple key areas. The total domestic deposits increased by 12.62% YoY and 4.20% QoQ to Rs 13,94,999 crore. In this, current deposits jumped dramatically by 40.48% QoQ and 62.84% YoY to Rs 75,920 crore, while savings deposits went up by 3.07% QoQ and 3.37% YoY to Rs 3,52,195 crore.

The bank's low-cost deposit base was strengthened by this strong spike in current accounts, as CASA Deposits (Current Account and Savings Account) surged to Rs 4,28,115 crore, representing 8.18% QoQ and 10.53% YoY growth

Term deposits grew by 2.53% QoQ and 13.57% YoY to reach Rs 9,66,884 crore, with Rs 5,63,683 crore coming from retail term deposits. Global deposits, on the other hand, increased by 13.40% YoY and 4.11% QoQ to Rs 15,27,922 crore.

Canara Bank's asset quality continued to improve in the September 2025 quarter. The Gross NPA ratio dropped dramatically to 2.35% from 3.73% in September 2024 as the Gross NPA fell to Rs 27,040 crore from Rs 37,733 crore a year earlier. In a similar vein, the Net NPA plummeted to Rs 6,113 crore, and the Net NPA ratio improved to 0.54% from 0.99% the previous year.

Read More

Latest Updates on Bank Merger and Privatisation

According to sources, the Indian government is creating a new plan to combine a few public sector banks. The government intends to combine Union Bank of India with Bank of India, according to sources. If all goes according to plan, the merger will result in the creation of India's second-biggest bank, after State Bank of India, the nation's largest bank in terms of assets. Mumbai serves as the headquarters for both Union Bank of India and Bank of India. 

 As of June 30, 2025, Bank of Baroda had ₹18.62 trillion in total assets, making it the second largest public sector bank in India. Among all banks, including private banks like ICICI Bank and HDFC Bank, its asset base places it fourth. A merged Union Bank of India and Bank of India would have assets of ₹25.67 trillion.

Additionally, the ministry is considering combining Indian Bank and Indian Overseas Bank. Chennai is home to the headquarters of both banks. In subsequent stages, the privatization of Bank of Maharashtra and Punjab & Sind Bank is being discussed. The merger of other banks under government control may be taken into consideration. 

 Although merger timelines are still pending, the process is expected to begin in FY27. In order to establish fewer but more powerful institutions, the government is developing a massive merger plan that would combine smaller banks with larger ones. The goal is to assist the next stage of credit expansion and financial reforms while fortifying and improving the banking sector.

The government is reportedly thinking of combining Indian Overseas Bank (IOB), Central Bank of India (CBI), Bank of India (BOI), and Bank of Maharashtra (BoM) with bigger banks like Punjab National Bank (PNB), Bank of Baroda (BoB), and State Bank of India (SBI).

Read More

Kotak Mahindra Bank Q2 Net profit falls 2.7% YoY

Private lender, Kotak Mahindra Bank on October 25 reported a 2.7 percent year-on-year fall in its standalone net profit to Rs 3,253 crore in the second quarter of the current financial year. In a year ago period, net profit stood at Rs 3,344 crore.

Net Interest Income (NII) for Q2FY26 increased to Rs 7,311 crore, up 4 percent YoY from Rs 7,020 crore in Q2FY25. Net Interest Margin (NIM) was 4.54 percent for Q2FY26. Cost of funds was 4.70 percent for Q2FY26.

Net Advances increased 16 percent YoY to Rs 462,688 crore as at September 30, 2025 from Rs 399,522 crore as at September 30, 2024.

As at September 30, 2025, GNPA was 1.39 percent and NNPA was 0.32 percent (GNPA was 1.49 percent and NNPA was 0.43 percent at September 30, 2024). As at September 30, 2025, Provision Coverage Ratio stood at 77 percent.

Read More

Government asks PSU banks to take steps to reduce employee stress and improve working conditions

Public sector banks have been urged by the government to take action to lessen employee stress and enhance working conditions. Numerous bank employees have complained about excessive work pressure, long hours, irrational business targets, and staff shortages, which has led to this decision. According to officials, the boards of all public sector banks (PSBs) have been instructed by the finance ministry to determine the primary reasons for employee stress and create detailed plans of action to address them. According to a government official, the banks have promised to implement the government's EASE 8.0 reforms program at the level of individual banks as well as the level of the entire policy.

The action follows many grievances from officers' groups and bank unions. Numerous workers claimed they are required to put up long hours, deal with increasing insurance and sales goals, and even be given non-banking tasks like election work. Numerous PSU Bank personnel have taken their own lives. The toxic work culture affects not just younger employees but even senior personnel. A senior manager of Bank of Baroda, Shri Iswar Chand Jha, recently took his own life. An AEO at Canara Bank allegedly committed suicide as a result of work-related stress. The passing of a Bank of Baroda chief manager was one piece of news that rocked the nation. The chief manager of Bank of Baroda in Baramati, Pune, committed suicide as a result of work-related stress.A few months ago, Central Bank Manager had committed Suicide. His Wife alleged that Bank Seniors were Mentally Harassing Him.

These are only a handful of incidents that demonstrate the poisonous workplace culture that exists in banks. Many more bank employees have taken their own lives. You can read about banker suicides here if you'd like. These days, if we discuss work pressure and a poisonous workplace, we hear about it every day. A Bank of Baroda branch manager refused to allow employees to take time off to care for his ailing mother. A 29-year-old girl just quit her job at Punjab National Bank because of the toxic work environment. On social media, her video had gained a lot of popularity. She claimed that she eventually quit her job because she was unhappy with it.A lot of banks deny leaves to staff and taking leave during month end or quarter end is considered a sin.

This shows that the working environment in public sector banks is now pathetic. The Government needs to immediately intervene and improve the work culture in banks otherwise banks will surely lose the talented staff.

Part of the EASE Reforms

The EASE (Enhanced Access and Service Excellence) programme is an ongoing reform initiative by the Department of Financial Services (DFS) to improve performance and efficiency in public sector banks. Under the EASE 8.0 and EASERise initiatives, the government is focusing on employee welfare, leadership development, and inclusive growth in PSBs.

At the recent PSB Manthan conclave, a special session was held on “Building an inclusive and future-ready workforce.” The session focused on diversity, equity, and skill development across various roles and genders in the banking system.

Banks Introduce New Well-Being Measures

To address stress and improve morale, several PSBs have started new initiatives such as Mentorship programmes for professional growth, Digital counselling platforms for mental well-being, Employee Health Index (EHI) surveys conducted every quarter. Out of 12 public sector banks, seven banks are now conducting EHI surveys regularly, and three banks are sharing the results with their boards to take quick action when needed, a senior bank executive said.

Read More

Punjab National Bank(PNB) Q2 net profit rises 14% YoY

On October 18, the state-owned lender Punjab National Bank said that its net profit for the second quarter of the current fiscal year increased by 14% year over year to Rs 4,904 crore. 

 On a year-over-year basis, operating profit grew by 5.5 and 6.5 percent for Q2FY26 and HY1FY26, respectively, to Rs 7,227 crore and Rs 14,308 crore. 

 For H1FY26, net interest income was Rs 21,047 crore, representing a 0.26 percent YoY increase. The total income for Q2FY26 was Rs 36,214 crore, and for H1FY26, it was Rs 73,445 crore, indicating YoY growths of 5.1 and 10.3 percent, respectively.

At Rs 31,872 crore, total interest income for the second quarter increased 6.7% over the previous year. On a year-over-year basis, total interest expenses for Q2FY26 were Rs 21,403 crore, while for H1FY26 they were Rs 42,789 crore, up 10.6 and 14.3 percent, respectively. 

 From 4.48 percent on September 30, 2024, to 3.45 percent on September 30, 2025, the GNPA ratio increased by 103 basis points on a year-over-year basis. From 0.46 percent on September 30, 2024, to 0.36 percent on September 30, 2025, the NNPA ratio increased by 10 basis points on a year-over-year basis. Gross Non-Performing Assets decreased from Rs 47,582 crore on September 30, 2024, to Rs 40,343 crore on September 30, 2025, a decrease of Rs 7,239 crore.

From Rs 4,674 crore on September 30, 2024, to Rs 4,026 crore on September 30, 2025, Net Non-Performing Assets decreased by Rs 648 crore. Current deposits rose to Rs 74,215 crore, representing a YoY gain of 9.0 percent, while savings deposits rose to Rs 5,08,964 crore, representing a YoY growth of 4.2 percent. 

 CASA Deposits grew by 4.7 percent year over year to Rs 5,83,178 crore. CASA As of September 30, 2025, the bank's share is 37.29 percent, which represents a 30 basis point increase from June 30, 2025. As of September 30, 2025, total term deposits have grown 14.7% year over year to Rs 10,33,902 crore.

Total Retail credit increased by 8.8 percent YoY to Rs 2,72,210 crore as on September 30, 2025. The bank grew under Retail Advances excluding IBPC recording a YoY growth of 18.1 percent.

Within Retail Advances excluding IBPC: Housing Loan grew by 12.9 percent YoY to Rs 1,24,099 crore, and Vehicle loan posted a growth of 30.9 percent YoY to reach Rs 29,512 crore.

Agriculture advances grew by 13.0 percent on YoY basis to Rs 1,83,987 crore and MSME advances increased YoY by 18.6 percent to Rs 1,79,220 crore.

Read More