Bank not responsible for customer’s negligence in Digital Fraud

Regarding internet fraud, the Uttarakhand State Consumer Disputes Redressal Commission has rendered a significant ruling. 

According to the commission, the bank or digital payment platform cannot be held accountable if the customer's own carelessness results in fraud in an online transaction. 

The decision was made in a case involving Haridwar resident Sachin Kumar. According to Sachin, he tried to move Rs 25,000 from his Google Pay account on November 26 but the transaction was unsuccessful. 

But he said the money was taken out of his bank account. Sachin claimed that after receiving some dubious communications, money was taken out of his account several times over the course of the following two days.

This resulted in a total of Rs 1,06,500 being debited from his bank account. Sachin said he filed a complaint with his bank (Punjab National Bank), but when he didn’t receive a satisfactory response, he filed a case with the District Consumer Disputes Redressal Commission.

The Commission held that the bank was at fault and ordered it to refund the amount to Sachin. However, the bank appealed the decision with the State Consumer Commission. During the hearing at the State Consumer Commission, it emerged that all the transactions were made using the customer’s own mobile phone.

The Commission stated in its order that “the security of the mobile phone, OTP, password, and UPI PIN is entirely the consumer’s responsibility. If someone fails to protect these details, the bank or digital app cannot be held responsible.”

The Commission also clarified that no transaction is possible on digital platforms like Google Pay without entering the correct UPI PIN. In such a case, the transaction will be deemed to have been made with the customer’s knowledge. The Commission, while setting aside the District Consumer Commission’s order, stated that the evidence and facts were not properly evaluated in the case.

Recently, the Reserve Bank of India has released a new guideline for digital frauds. RBI plans to provide compensation to victims upto Rs.25,000. This may prove to be a big relief for victims of Digital Frauds.

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RBI Issues Strict Guidelines on Bank Misselling: No Bank Employee Incentives, No Calls After 6 PM

Strict restrictions have been established by the Reserve Bank of India (RBI) to prevent banks from misselling third-party products. Additionally, the RBI has stated that bank employees shouldn't receive incentives. 

Mis-selling: What is it? 

According to the RBI, mis-selling is defined as: 

1. Selling a product or service that is inappropriate or unsuitable for the customer's profile, even if the customer has given their express assent; 

2. Selling a product or service without supplying accurate or comprehensive information, or by providing misleading information;

3. Selling a product or service without the express approval of the customer; 

4. Selling a desired product or service while forcing the sale of another product or service; 

5. Selling a product or service that includes any additional elements deemed to be mis-selling by the relevant financial sector regulator.

Third-party Financial Product or Service is a product or service offered by a bank to its customers on behalf of a third party company such as selling insurance on behalf of an insurance company.

Guidelines for DSA

A bank, availing the services of DSAs / DMAs, shall maintain an up-to-date list of DSAs / DMAs empanelled / engaged with it. Such list shall include the name and other details of the DSAs / DMAs, the period of engagement, etc. Further, an updated list of such DSAs / DMAs shall be displayed on the bank’s website for reference by the members of public.

A bank shall ensure that its employees or DSAs / DMAs:

1. make telephonic contacts and / or visits to customers normally between 09:00 hours and 18:00 hours. Calls / visits earlier or later than the prescribed time period shall be done only when the customer has expressly given a request or authorisation to do so;
2. do not call a customer regarding products already sold to him / her and if a customer calls for any such product, advise him / her to contact the customer service staff of the bank and provide the contact details.

No Incentive

A bank shall ensure that its policies and practices (e.g., organizing competitions among business units for sale of products / services, earmarking specific days of the week / month for targeted selling of particular products / services, etc.) neither create incentives for mis-selling nor encourage employees / DSAs to ‘push’ the sale of products / services. It shall be ensured specifically that no incentive is directly / indirectly received by the employees engaged in marketing / sales of third-party products / services from the third-party.

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BOI and Union Bank of India Latest Merger News

The government is apparently considering a massive merger between Union Bank of India (UBI) and Bank of India (BoI), one of the biggest advances in India's banking industry. This action is a component of the larger "Merger 2.0" effort, which aims to create public sector banks (PSBs) that are stronger, smaller, and more globally competitive. 

With a network of more than 12,000 branches across the country and assets potentially topping ₹25 lakh crore, the combined company would rank among India's biggest public sector banks if the merger proceeds. According to analysts, this consolidation might benefit around 25–30 crore clients, making it a significant force in India's banking industry.

Why “Merger 2.0” Matters

The government’s push for PSB consolidation is driven by several goals:

1. Global Competitiveness – Creating banks large enough to compete with international lenders.

2. Operational Efficiency – Streamlining processes and reducing non-performing assets (NPAs).

3. Credit Capacity – Strengthening the ability to fund large infrastructure projects and support MSMEs.

4. Financial Stability – Reducing fragmentation among PSBs and building stronger balance sheets.

Other Banks on the Watchlist

Union Bank and BoI are not the only institutions under consideration. Other PSBs frequently mentioned for potential future mergers include:

• Indian Overseas Bank (IOB)

• Central Bank of India

• UCO Bank

• Bank of Maharashtra

• Punjab & Sind Bank

The goal is to reduce the total number of PSBs from 12 to 4–5 large, efficient banks, capable of competing at a global level.

While official approvals are still pending, account holders should be aware of potential changes:

IFSC codes, chequebooks, and banking apps may be updated.

Enhanced digital banking services are likely after consolidation.

Broader branch networks and improved credit access for individuals and businesses.

The government emphasizes that these mergers aim to benefit customers with better service, stronger security, and more financial options.

Sources indicate that internal due diligence is underway, with a tentative target to complete operational integration by December 2026 or early FY 2026-27. However, formal notifications are still awaited from the Finance Ministry.

If implemented, the Union Bank–BoI merger would be one of the most impactful banking consolidations in India in decades, marking a bold step in the government’s strategy to modernize and strengthen public sector banks.

Stay tuned for official updates, which are expected around the Union Budget 2026 announcements on February 1, 2026.

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State Bank of India(SBI) Circle Based Officers(CBO) Recruitment 2026, Notification Out,How to Apply

The State Bank of India (SBI) has issued the official notification for the recruitment of candidates to the post of Circle Based Officers (CBO) 2026. All details related to this recruitment, such as eligibility, age limit, vacancies, notification pdf, online application link, exam pattern, syllabus, important dates, last date to apply, age limit, education qualifications, etc. are given below.

SBI CBO Recruitment 2026 Important Dates

• Notification Released: 28 January 2026
• Application Start Date: 29 January 2026
• Last Date to Apply: 18 February 2026 (till 11:59 PM)
• Fee Payment Last Date: 18 February 2026
• Examination Date: March 2026

SBI CBO Recruitment 2026 Salary Details

• The starting basic pay is ₹48,480 under the pay scale ₹48,480–2,000/7–62,480–2,340/2–67,160–2,680/7–85,920, along with two advance increments.
• In addition to basic pay, selected candidates will be entitled to Dearness Allowance (DA), HRA/Lease Rental, CCA, Provident Fund, National Pension System (NPS), Leave Fare Concession (LFC), medical benefits, and other allowances and perks as per existing rules.

SBI CBO Recruitment 2026 Notification & Apply Online

SBI CBO Recruitment 2026 Notification

Click Here to Apply Online for SBI CBO

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Financial Results of Banks for Q3FY26

 

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

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Nationwide bank strike on January 27 hits operations across India

Approximately 8 lakh bank employees and officers nationwide participated in the nationwide bank strike organized by the United Forum of Bank Unions (UFBU) on January 27, 2026, according to a news release from the bank unions. 

The strike was seen in public sector banks, private sector banks, foreign banks, regional rural banks, and cooperative banks, according to the UFBU, an umbrella organization of nine unions that represent bank officials and employees. 

The forum described the strike as a "total success," stating that it had a significant negative impact on regular banking operations across the country.The strike was called to press for the long-pending demand for a five-day work week in the banking industry, including declaring all Saturdays as bank holidays. At present, only the second and fourth Saturdays of every month are bank holidays.

"The government has refused to approve the implementation of the five-day banking week despite repeated assurances and formal agreements, so we were forced to go on strike," UFBU stated in a statement. The unions cited a memorandum of agreement signed with UFBU on December 7, 2023, and the subsequent settlement and joint note dated March 8, 2024, as the basis for the Indian Banks' Association's (IBA) recommendation of a five-day workweek. In order to make up for Saturdays being designated as holidays, everyday working hours from Monday through Friday were to be extended by forty minutes.

According to UFBU, the demand for a five-day work week has been pending since 2015, when the IBA and the government agreed to declare the second and fourth Saturdays as holidays, with an assurance that the remaining Saturdays would be reviewed later. However, the matter has remained unresolved despite further discussions in 2022 and a formal recommendation made in 2023.

The forum also noted that similar work-week patterns are already in place in institutions such as the Reserve Bank of India, Life Insurance Corporation of India, and General Insurance Corporation, besides central and state government offices. Stock exchanges and money markets also function only from Monday to Friday.

 

Conciliation meetings were held by the Chief Labour Commissioner on January 22 and 23, 2026, in New Delhi, with officials from the finance ministry participating. However, UFBU said the meetings did not yield any positive outcome, prompting the unions to go ahead with the strike.

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UFBU Meeting 23 January 2026 Updates - 5 Days Banking

Today (23.01.26) again a meeting was held between UFBU, DFS, IBA, CLC and Bank Management for implementation of 5-Day Banking. The meeting was held at 3:30 PM in continuation to yesterday’s (22.01.26) meeting. Yesterday, the talks between UFBU and the Government of India failed, and the strike continued. Today also, the talks between UFBU and the government failed, and the strike will be conducted all across India on 27 January 2026.

Once again, the conciliation proceedings started to discuss the issue contained in the strike notice dated 08.01.2026 for the proposed strike to be held on 27.01.2026. At the outset, the Ld. representatives of DFS submitted that things are moving in the right direction and some decisions have been taken yesterday in favour of the Financial Sector. Accordingly, he requested the Ld. representatives of UFBU to reconsider their stand and defer the strike reflecting good gesture which may lead to positive outcomes.

At this stage, the Ld. representatives of IBA also requested in the same line of DFS and reiterated to consider the appeal so as to ensure that the dignitaries persuading their causes before the competent authorities may be strengthened to put forth their submission positively.

On the other hand, the Ld. representatives of UFBU reiterated that they are aware about the meaning and consequence of strike which is the ultimate legal right with the workmen. As such, they are not also of the intent to use such a stringent measure for pressing on the demand but as they have already deferred three such consecutive occasions of the proposed strike on some of the issues which contained the issue of 5 days banking also. As the Govt. is not at all responding on the issue of 5 days banking, they do not have any option in such compelling circumstances but resort to strike.

As the stalemate continued, the CLC(C) as Conciliation Officer also made an appeal to the Ld. union representatives to reconsider and avoid any direct action in the public interest so that industrial harmony be maintained. At the same time, the CLC(C) also advised other stakeholders to convey the message at appropriate level and try their level best to resolve the issue in public interest. It is also pertinent to mention at this stage that office of the CLC(C) is always open to facilitate the dialogue whenever it is required.

In the meantime, the provisions contained u/s 33(1) and 22 of the ID Act, 1947 shall remain in vogue. Next date in the matter is fixed on 09.03.2026 at 11.30 AM.

🗞️ What's happening right now about Strike

• Nationwide bank strike planned for  January 27, 2026 — Bank employee unions under the United Forum of Bank Unions (UFBU) have called a one-day nationwide strike to press for the implementation of a full five-day work week (i.e., both Saturdays off). 

• Banks likely to be closed for up to four days, from Jan 24–27, 2026 — because the strike overlaps with regular weekend holidays and Republic Day holidays. 

• Disruption in banking services expected across Gujarat and other states on Jan 27, with many branches closed and services slowed down. Around 800,000 bank employees are expected to participate nationwide; in Bihar alone, about 8,100 branches and 50,000 staff are involved. 

• Unions have also been urging political support (for example from West Bengal’s Chief Minister) to strengthen their strike call and demands. 

• The strike demand centers around the five-day working week, a change that was recommended by the banking industry earlier but hasn’t yet been formally implemented by the government. 

📌 Why it matters

• Customer impact: Physical bank branches may be shut on the strike day — but digital services (mobile banking, ATMs, online transfers) often remain available. Plan ahead for essential transactions. 

• Union demands: The main focus is the five-day work week, but bank workers often include other issues in agitation (staff shortages, working conditions, staffing norms etc.). 

If you’d like, I can pull specific state-wise closure lists or official notifications from your local banks for Jan 27 specifically.

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Indian Bank Q3 net profit rises 7%

The state-owned lender Indian Bank posted a net profit of Rs.3,061.48 crore for the third quarter of FY26 on Thursday, up 7.3% from Rs.2,852.36 crore during the same period last year.

In Q3FY26, the PSU bank's Net Interest Income (NII) climbed 7.5% year over year (YoY) to Rs.6,895 crore from Rs.6,414 crore.

Pre-Provisions Operating Profit (PPOP) during the December quarter rose 5.77% to Rs.5,023.58 crore from Rs.4,749.42 crore, YoY.

Provisions and contingencies of Indian Bank in Q3 declined to Rs.857.02 crore from Rs.738.60 QoQ, and from Rs.1,059.13, YoY. Provision Coverage Ratio improved by 19 bps YoY to 98.28% in December 2025 from 98.09%, YoY.

Asset quality of Indian Bank improved sequentially in the quarter ended December 2025. Gross Non-Performing Assets (NPA) ratio in Q3FY26 declined to year 2025 from 0.79% in September 2025, and from 0.78% in December 2024.

Capita Adequacy Ratio of the PSU lender improved by 66 bps to 16.58%. CET-I improved by 127 bps YoY to 14.54%, Tier I Capital improved by 77 bps YoY to 14.54% in December 2025.

Gross Advances increased by 14.24% YoY to Rs.6,38,848 crore in December 2025 from ₹5,59,199 crore in December 2024.

Total deposits of the bank increased by 12.62% YoY and reached Rs.7,90,923 crore in December 2025 as against Rs.7,02,282 crore, YoY. Current, Savings and CASA deposits grew by 19.13%, 8.45%, and 9.86%, YoY respectively. Domestic CASA ratio stood at 39.08% as on 31 December 2025. CD ratio stood at 80.77%.

Indian Bank has 5,965 domestic branches, out of which 2,001 are Rural, 1,592 are Semi-Urban, 1,191 are Urban and 1,181 are in Metro category. The PSU bank has 3 overseas branches and 1 IBU (Gift City Branch). The bank has 5,624 ATMs and BNAs and 16,247 number of Business Correspondents (BCs).

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Bank of India(BOI) Q3 Net profit up 8%

State-run Bank of India on Wednesday (January 21) reported a 7.5% year-on-year increase in net profit for the third quarter, with profit rising to ₹2,705 crore compared with ₹2,516.7 crore in the corresponding quarter last year.

Net interest income for the quarter grew 6.5% year-on-year to ₹6,462.6 crore, up from ₹6,070.3 crore in the same period a year ago. Gross non-performing assets declined to 2.26% from 2.54% in the previous quarter, while net non-performing assets eased to 0.60% from 0.65% sequentially.

Bank of India’s global advances grew 13.63% year-on-year, with domestic advances rising 15.16% YoY. The bank’s total global business crossed the ₹16 lakh crore milestone. Overseas advances increased 5.70% YoY.

On the domestic front, retail advances grew 20.64% YoY, agriculture advances rose 16.69% YoY, MSME advances increased 15.77% YoY, and corporate advances grew 11.32% YoY. The proportion of retail, agriculture, and MSME (RAM) advances in total advances increased to 58.54%.

Deposits for the bank grew 11.64% YoY, with domestic deposits up 12.80% YoY. CASA deposits rose 4.48% YoY, resulting in a CASA ratio of 37.97% as of 31st December 2025.

On the profitability front, operating profit for 9M-FY26 rose 4% YoY to ₹12,023 crore, while Q3FY26 operating profit increased 13% YoY to ₹4,193 crore. Net profit for 9M-FY26 was ₹7,511 crore, up 14% YoY.

Net interest income (NII) for 9M-FY26 stood at ₹18,442 crore. Non-interest income grew 20% YoY for 9M-FY26 to ₹6,665 crore, and 30% YoY for Q3FY26 to ₹2,279 crore. Net interest margin (NIM) for 9M-FY26 was 2.51% globally and 2.76% domestically, while Q3FY26 NIM improved to 2.57% globally and 2.80% domestically. Return on assets (ROA) and return on equity (ROE) for 9M-FY26 were 0.90% and 14.49%, respectively, rising to 0.96% and 15.34% in Q3FY26.

Asset quality improved, with gross NPA ratio at 2.26%, down 143 basis points YoY, and net NPA at 0.60%, improved by 25 bps YoY. The provision coverage ratio (PCR) increased 112 bps YoY to 93.60%.

Slippage ratio for 9M-FY26 improved 36 bps YoY to 0.64%, while Q3FY26 slippage ratio was 0.16%, up 3 bps YoY. Credit cost for 9M-FY26 improved 30 bps YoY to 0.42%, and for Q3FY26 improved 5 bps YoY to 0.34%. On the capital front, Bank of India’s capital adequacy ratio stood at 17.09% as of December 31, 2025.

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Punjab National Bank(PNB) Q3 Profit rises 13% YoY

State-owned lender Punjab National Bank (PNB) on January 19 reported a 13.13 percent rise in its profit after tax (PAT) to Rs 5,100.15 crore in the third quarter of the current financial year, from Rs 4,508.21 crore in the year-ago period. On a sequential basis, net profit rose 4 percent.

Gross non-performing asset (NPA) ratio of the bank improved to 3.19 percent as on December 31, 2025, from 3.45 percent as on September 30, 2025, and 4.09 percent as on December 31, 2025. Net NPA ratio improved to 0.32 percent in Q3FY26, from 0.36 percent in Q2FY26, and 0.41 percent in Q3FY25.

In absolute terms, gross NPA of the bank stood at Rs 39,314.21 crore in Q3FY26, as compared to Rs 40,343.33 crore in Q2FY26, and Rs 45,413.98 crore in Q3FY25. Net NPA of the bank improved to Rs 3,833.70 crore in Q3FY26, from Rs 4,025.75 crore in Q2FY26, and Rs 4,437.43 crore in Q3FY25.

Provision Coverage Ratio improved by 22 bps on year-on-year basis to 96.99 percent as on December 31, 2025 from 96.77 percent as on December, 31, 2024

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