This Bank Wins EASERise 8.0 Data Quality Recognition Award for FY 2025–26

The Indian Banks’ Association (IBA) has announced the EASERise 8.0 Award winners for FY 2025–26. State Bank of India (SBI) secured the overall winner position, followed by Punjab National Bank (PNB) and Canara Bank.

Bank of India (BOI) has achieved a notable recognition by securing the Winner position in the Overall EASE Data Quality Recognition Awards. The award acknowledges the quality of data submitted by public sector banks for EASE assessments, including accuracy, correctness, minimal revisions and timely submission.

Additionally, SBI emerged as the winner in the Innovation and Risk and Resilience themes, while Bank of India secured the First Runner-up position in the Innovation category.

This achievement reflects Bank of India’s commitment to data quality, operational excellence and innovation in banking.

1. Overall Winners

Award Position	Bank Name
Winner	State Bank of India (SBI)
First Runner-up	Punjab National Bank (PNB)
Second Runner-up	Canara Bank

2. Theme-wise Winners

S. No.	Theme	Winner	First Runner-up	Second Runner-up
1	Risk and Resilience	State Bank of India (SBI)	Punjab National Bank (PNB)	Indian Bank
2	Innovation	State Bank of India (SBI)	Bank of India (BOI)	Canara Bank
3	Socio-economic Impact (for Viksit Bharat)	Bank of Baroda (BoB)	Union Bank of India	Canara Bank
4	Excellence	Punjab National Bank (PNB)	Indian Bank	State Bank of India (SBI)

3. Top Improvers

Award Position	Bank Name
1st	Indian Overseas Bank (IOB)
2nd	Punjab & Sind Bank
3rd	UCO Bank

4. Overall EASE Data Quality Recognition Awards

These awards recognise public sector banks for the quality of data submitted for EASE assessments, based on data correctness, accuracy, minimal revisions and timely submissions.

Award Position	Bank Name
Winner	Bank of India (BOI)
First Runner-up	Bank of Maharashtra
Second Runner-up	Central Bank of India

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ICICI Bank Q2 Net profit rises 20%

ICICI Bank exceeded market estimates on Saturday by reporting a 20.1 percent year-over-year increase in standalone net profit to Rs 14,843 crore for the second quarter of FY27. While asset quality improved, the private sector lender reported significant increases in advances and net interest income (NII).

The net profit was 3.9 percent more than the CNBC TV18 poll prediction of Rs 14,280 crore. ICICI Bank's net interest income surpassed the poll forecast of Rs 24,811 crore by 2.1 percent, rising 17.7 percent year over year to Rs 25,339 crore from Rs 21,529 crore.

The bank's net interest margin (NIM) stood at 4.18 percent in the July-September quarter, compared with 4.36 percent in the preceding quarter and 4.30 percent in the year-ago period.

Core operating profit increased 21.8 percent year-on-year to Rs 20,805 crore from Rs 17,078 crore. Fee income rose 20.1 percent to Rs 7,795 crore, with fees from retail, rural and business banking customers accounting for approximately 75 percent of the total. Operating expenses increased 8.5 percent year-on-year to Rs 12,811 crore.

ICICI Bank reported provisions, excluding tax provisions, of Rs 851 crore for the September quarter, compared with Rs 914 crore a year earlier, representing a decline of approximately 6.9 percent.

The bank continued to maintain contingency provisions of Rs 13,100 crore, alongside an additional standard asset provision of Rs 1,283 crore made in the third quarter of FY26 under RBI directions relating to its agricultural priority sector portfolio.

The net NPA ratio improved to 0.30 percent from 0.35 percent sequentially and 0.39 percent a year earlier. Gross NPA additions stood at Rs 4,833 crore, compared with Rs 5,034 crore in the corresponding quarter last year.

The bank's total advances increased 30 percent year-on-year and 12.3 percent sequentially to Rs 18.32 lakh crore as of September 30. Excluding loans extended by international branches against foreign currency non-resident (FCNR-B) deposits, total loan growth was 24.1 percent year-on-year and 7.3 percent sequentially.

The retail and rural loan portfolio grew 14.8 percent year-on-year, while the business banking portfolio expanded 33.8 percent. The domestic corporate portfolio registered growth of 30.6 percent.

Total period-end deposits increased 27.1 percent year-on-year to Rs 20.50 lakh crore. Excluding FCNR-B deposits, deposit growth stood at 17 percent. Average deposits rose 21.2 percent to Rs 18.88 lakh crore. The average current account and savings account (CASA) ratio stood at 35.8 percent, reflecting the increase in the term deposit base due to FCNR-B deposit inflows.

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Punjab & Sind Bank Q2 Profit Jumps 39.88%

On Saturday, October 17, the Central Bank of India said that its standalone net profit for the September quarter of the fiscal year 2026–2027 had increased by 21% year over year to ₹1,469 crore, thanks to an increase in net interest income (NII). The bank's core income, or NII, rose 26.3% year over year to ₹4,145 crore in the second quarter from ₹3,283 crore in the same time the previous year.

Gross non-performing assets (NPAs) decreased from 2.60% in the June quarter to 2.39% as of September 30, 2026, indicating a sequential improvement in the bank's asset quality. Net non-performing assets (NPAs) decreased from 0.49% in the prior quarter to 0.31%.

Rs 3,746.52 Cr, up 11.06% YoY growth from Rs 3,373.28 Cr in the comparable quarter. Rs 411.97 Cr, higher by 39.88% year on year, showing stronger profit conversion in the quarter. The disclosed operating/profit line improved alongside revenue, which supported the net profit outcome.

Punjab & Sind Bank Q2 Results FY27: The quarter offers a clean read on the earnings trend, with both top line and net profit moving higher.

Punjab & Sind Bank Q2 Results FY27 show a year-on-year improvement in both revenue and net profit. Revenue rose to Rs 3,746.52 Cr, while net profit climbed to Rs 411.97 Cr. The results analysis indicates that profit growth was materially faster than revenue growth in this quarterly results update.

The bank’s revenue increased 11.06% YoY growth, and net profit increased 39.88% YoY growth. 

Net profit margin improved to 11.0% from 8.7% in the comparison quarter. Net profit rose 39.9% year on year to Rs 411.97 Cr.

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Punjab National Bank(PNB) Q2 Net profit rises 13%

Punjab National Bank (PNB) on Friday reported a 13 per cent increase in net profit to Rs 5,532 crore for the second quarter ended September 2026.

 

The country's second-largest public sector lender had logged a profit of Rs 4,904 crore in the year-ago period.

 

The bank's total income increased to Rs 38,185 crore in the second quarter from Rs 36,214 crore a year ago, PNB said in a regulatory filing.

 

Interest income rose to Rs 34,585 crore in the September quarter of FY27 from Rs 31,872 crore in the year-ago period.

 

The operating profit also rose to Rs 7,532 crore against Rs 7,227 crore in the same quarter a year ago.

 

On the asset quality front, its gross non-performing assets (NPAs) moderated to 2.55 per cent of gross advances at the end of September 2026 compared to 3.45 per cent a year ago.

 

Similarly, net NPAs or bad loans came down to 0.25 per cent at the end of September 2026 against 0.36 per cent at the end of September 2025.

 

Provisions and contingencies came down to Rs 97 crore from Rs 643 crore in the second quarter of the previous financial year.

 

The Provision Coverage Ratio (PCR) climbed to 97.32 per cent as on September 30, 2026, against 96.91 per cent at the end of the second quarter of the last financial year.

 

Capital to Risk-Weighted Assets Ratio (CRAR) also witnessed a rise to 17.95 per cent from 17.19 per cent at the end of September 2025.

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UCO Bank Q2 net profit rises 27%

Public sector UCO Bank on Thursday reported a 27 per cent rise in net profit to ₹786 crore for the second quarter ended September 30.The Kolkata-based lender earned a net profit of ₹620 crore in the same period last fiscal year.

Total income increased to ₹8,170 crore in the second quarter from ₹7,421 crore a year ago, UCO Bank said in a regulatory filing.Interest income improved to ₹7,286 crore in the September quarter of FY27 from ₹6,537 crore in the year-ago period.

Operating profit also increased to ₹1,872 crore against ₹1,613 crore in the same quarter a year ago.

On the asset quality front, the bank's gross non-performing assets (NPAs) moderated to 1.96 per cent of gross advances at the end of September 2026 compared to 2.56 per cent a year ago.Net NPAs or bad loans came down to 0.18 per cent at the end of September 2026 compared to 0.43 per cent at the end of September 2025.

However, provisioning against bad loans rose marginally to ₹444 crore during the quarter against ₹405 crore in the July-September period of the last fiscal year.

The Provision Coverage Ratio (PCR) improved to 98.36 per cent as of September 30, 2026 against 96.99 per cent at the end of the second quarter of the last financial year.

The Capital to Risk-Weighted Assets Ratio (CRAR) rose to 18.85 per cent from 17.89 per cent at the end of the second quarter of the previous financial year.

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Canara Bank Q2 Standalone net profit rises 8% YoY

 Canara Bank on Wednesday reported a standalone net profit of Rs 5,175 crore for the second quarter of FY27, up more than 8% from Rs 4,774 crore in the corresponding quarter of the previous financial year. The earnings announcement lifted the bank’s shares nearly 5%.

The lender’s net interest income (NII), or the difference between interest earned and interest expended, jumped more than 20% YoY to Rs 11,005 crore during Q2 of the ongoing financial year 2027, from Rs 9,141 crore reported in the same period of FY26. The shares of the company jumped to Rs 126.44 apiece on NSE.

Operating profit margin however reduced to 21.40% in the second quarter of FY27 from 22.25% in the year-ago period. Net profit margin however increased slightly to 12.64%, from 12.37% in the same period last year. The bank’s overall net worth rose nearly 17% YoY to Rs 1.13 lakh crore in the quarter which ended on September 30, 2026.

Canara Bank’s asset quality also improved, with net non performing assets (NNPA) reducing around 34% YoY to Rs 4,053 crore, while gross performing assets (GNPA) fell over 32% YoY to Rs 18,299 crore during the quarter under review. As a result, gross NPA ratio declined to 1.33% in Q2 FY27, from 2.35% in the corresponding quarter of the previous financial year.

The lender’s annualised return on assets (RoA) stood at 1.05% in Q2 FY27, as against 1.10% in the same period last year. Its debt-equity ratio meanwhile stood at 0.52%, as against 0.55%.

Canara Bank’s provisions decreased over 6% YoY to Rs 3,583 crore, while quarterly net interest margin (NIM) stood at 2.55%, compared to 2.5% in the year-ago period. Its cost of funds (CoF) decreased to 4.88% in Q2 FY27, from 5.21% in Q2 FY26, while yield on advances ratio fell to 8.03% from 8.4%. Cost of deposits ratio meanwhile dropped to 5.27%. Slippage ratio eased to 0.15% from 0.19%.

Its overall business performance is on track to meet its FY27 guidance, except CASA ratio that stood at 29%, slightly lower than its 30-32% guidance.

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Government sells its stake in IDBI Bank to Canadian Company

The strategic reorganization and ₹52,878 crore stake sale of IDBI Bank to Prem Watsa's Fairfax Financial Holdings was approved by the Union Cabinet on October 14, 2026.

This is the biggest government disinvestment agreement since Air India and the largest foreign direct investment (FDI) in India's financial sector.

The winning bid price of ₹81 per share is being used to complete the transaction. The approved framework calls for Fairfax's subsidiary, M/s 10955230 Canada Inc., to purchase a 60.72% controlling stake in the lender, which will be split nearly equally between the two current major owners:

India's government Sale: Giving up a 30.48% share.

Corporation for Life Insurance (LIC) Sale: Giving up a 30.24% share.

Finance Minister Nirmala Sitharaman categorized the deal as a “strategic restructuring” rather than a complete exit, as the state will maintain a significant footprint:

The Government will retain a 15% stake.

LIC will retain a 19% stake.

Together, they will keep a combined 34% minority holding in the bank.

While the Cabinet Committee on Economic Affairs (CCEA) has cleared the transaction, the deal still awaits a final mandatory “fit and proper ownership” assessment by the Reserve Bank of India (RBI), alongside necessary clearances from the Competition Commission of India (CCI). The formal share purchase agreement is scheduled to be signed and executed before the end of December 2026.

IDBI Bank will officially become a foreign-owned bank following the conclusion of this deal. The winning bidder, Fairfax Financial Holdings, is a massive financial conglomerate headquartered in Toronto, Canada, and led by the Indian-born Canadian billionaire Prem Watsa.

Because Fairfax’s Canadian subsidiary is acquiring a 60.72% controlling stake, IDBI Bank will transition from being a domestic Indian lender into a foreign-controlled institution.

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Rs 575.40 crore Loan NPA in Bank of India(BOI), Account classified as Fraud

The ₹575.40 crore non-performing asset (NPA) account of Future Enterprises Ltd. (FEL), which is promoted by Kishore Biyani, has been designated as fraud by the Bank of India. There is an outstanding balance of ₹575.40 crore in the account. The classification is not anticipated to necessitate any additional provisioning or have an additional effect on the bank's earnings and net interest margins because the bank has already made 100% provisioning for the entire amount. In accordance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, the bank has also reported the issue to the Reserve Bank of India (RBI). Since FY 2022–2023, Future Enterprises Ltd. has been subject to the Corporate Insolvency Resolution Process (CIRP), which is overseen by the National Company Law Tribunal (NCLT).

Unlike Future Retail, which ran the front-end stores, Future Enterprises was designed to hold the group’s physical assets, manufacturing infrastructure, and critical investments. The company owned the back-end supply chain, logistics frameworks, textile manufacturing facilities, and valuable joint-venture stakes in prominent insurance businesses, specifically Future Generali India Life and General Insurance.

The debt in this account was heavily tied to the group’s massive ₹24,713-crore restructuring package announced in August 2020. Future Enterprises was scheduled to absorb 19 other group entities operating across retail, wholesale, and warehousing operations, before transferring the consolidated retail infrastructure over to Reliance Retail. When the transaction ultimately collapsed in April 2022 due to lack of secured lender support, the underlying debt structures became unsustainable, pushing the account into a hard default.

The path to this fraud classification was driven by exhaustive forensic scrutiny:

Following the default, the consortium of lenders led by Central Bank of India appointed forensic auditor J C Kabra & Associates. This audit followed a Ministry of Finance directive mandating detailed transactional reviews for stressed loan exposures exceeding ₹50 crore.

Concurrently, market regulator SEBI initiated separate forensic audits examining the company’s financial records and high-value Related Party Transactions (RPT) exchanged with sister affiliates like Future Retail, Future Consumer, and Future Supply Chain.

Under RBI guidelines, a commercial bank classifies an NPA account as fraud when independent audits confirm systemic anomalies. These include the misappropriation of funds, criminal breach of trust, manipulation of books of accounts, or routing funds through fictitious/unauthorized third-party entities.

Future Enterprises has been operating under the Corporate Insolvency Resolution Process (CIRP) since 2023. While Bank of India has safely insulated its balance sheet by taking a 100% provision on the ₹575.40 crore, any recovery of this capital now depends on the liquidation of FEL’s remaining investments. Most notably, the company’s premium insurance assets are moving through resolution, with the Central Bank of India emerging as the successful bidder to acquire FEL’s remaining stakes in the Future Generali ventures.

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UFBU Seeks Review of PLI Scheme for Bank Officers, Demands Fair Incentives for All Employees

The United Forum of Bank Unions (UFBU) has urged the Indian Banks’ Association (IBA) to review the Performance Linked Incentive (PLI) scheme for bank officers, highlighting concerns over fairness, uniformity and the exclusion of a section of senior officers from incentive payments.

In a letter dated 9 October 2026, addressed to the Chief Executive of the Indian Banks’ Association, Mumbai, UFBU requested an early meeting to discuss modifications to the revised PLI formula and resolve the matter through mutual consultation.

UFBU Raises Concerns Over the Revised PLI Scheme

According to the letter, the Government advised banks in November 2024 regarding the revised PLI scheme applicable to officers in Scale IV and above. Since then, UFBU has consistently raised objections with the IBA on the following grounds:

• Bilateral discussions: Any change or modification to the scheme should be discussed bilaterally with the unions and associations.

• Collective performance: The fundamental principle of PLI should remain linked to the collective performance of the bank.

• Uniformity: The incentive norms should be uniform rather than creating disparities among officers.

UFBU has welcomed the decision to initiate discussions with the IBA on proposing modifications to the scheme to address the concerns raised by the unions and associations.

20% of Senior Officers Reportedly Received No PLI

One of the major concerns highlighted in the letter is that the revised PLI scheme for officers in Scale IV to Scale VIII for the financial year 2024–25 has already been implemented, and higher incentive amounts have been disbursed to certain officers at a substantial cost.

However, UFBU points out that approximately 20% of officers in Scale IV to Scale VIII have not received any PLI.

The forum argues that these officers have also contributed to the overall performance of their respective banks. Therefore, excluding them from incentive payments raises questions about fairness and the principle of collective achievement.

UFBU Seeks Review of PLI for 2024–25

Pending discussions on modifications to the scheme for 2025–26 and subsequent years, UFBU has requested a review of the PLI already paid for 2024–25.

The demand covers:

• A review of PLI payments made to award staff and officers up to Scale III.

• A review of officers in Scale IV to Scale VIII who did not receive any PLI.

• Consideration of the contribution made by all employees towards the bank’s overall performance.

• Protection of the principles of equity, fairness and uniformity under the existing Bipartite Settlement/Joint Note framework.

Demand for an Early Meeting with IBA

UFBU has requested the IBA to arrange a meeting at the earliest so that the issues can be discussed and resolved amicably and mutually.

The letter has been signed by representatives of major bank unions, including AIBEA, AIBOC, NCBE, AIBOA and BEFI, along with other UFBU constituents.

The PLI issue has once again brought the focus on how performance incentives should be distributed in the banking sector. UFBU's position is that incentives should reflect the collective contribution of employees and follow transparent, fair and uniform principles.

The next step will be the discussions between UFBU and the IBA and whether the concerns regarding officers who received no PLI, along with the requested review of payments for 2024–25, will be addressed.

Stay tuned to Latest Bank Update for the latest developments on banking news, employee issues, PLI, wage-related matters and important updates from the banking sector.

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One of the Unit of Bank of India Officers Association(BOIOA) Announces to pay Rs 2,600 as Gratitude Amount to Members

A ₹2,600 reward has been announced by the Bank of India Officers’ Association (BOIOA), Delhi Unit, for its members who supported the organization during the recent agitation over 5-Day Banking and other unfulfilled demands. The General Secretary of BOIOA Delhi Unit stated in a letter dated October 8, 2026, that members were understandably dissatisfied with the postponement of the strike called by the United Forum of Bank Unions (UFBU). The demand for 5-Day Banking and other unresolved issues were the reasons behind the planned strike. Additionally, the previous agitation program was canceled.

The Delhi Unit said that it had also sought clarification from AIBOC/UFBU regarding the reason of strike deferment, but till now UFBU has not explained the reason of strike deferment.

The association appreciated the trust, commitment and support shown by its members during the difficult period. It said that members demonstrated courage, discipline and a strong sense of responsibility, which reflected the spirit of unity, commitment and organisational solidarity among its members.

The Executive Committee of BOIOA Delhi Unit, in its meeting held on October 8, 2026, has decided to provide a gratitude amount of ₹2,600 to each eligible member, except the office bearers of the Delhi Unit. The amount is being given as a token of appreciation to members who remained firm in their support for the organisation and the Delhi Unit during the struggle.

This amount is being paid as the bank employees were called to work on Sunday – 27 September 2026. The Government had ordered to open all banks on 27 September for convenience of customers, as strike was scheduled from 28 to 30 September 2026.

The association said that the amount cannot compensate for the support, commitment and sacrifice made by its members, but it is a humble gesture to recognise their contribution and loyalty to the organisation.

BOIOA Delhi Unit also said that although the strike has been deferred, its struggle and spirit remain undeterred. The association assured members that it would continue to protect their interests, rights and dignity and would raise their collective voice before the concerned authorities and responsible forums.

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