BANKING
OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
OneStack, a fintech provider, secured ₹12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
RBI sets up panel with banks, market players to review financial market issues
India's central bank has formed a technical consultative committee to engage with market participants on financial issues. This committee will include seven external members from various financial institutions and will address market infrastructure. It will examine the functioning and efficiency of money and related derivative markets. Members will assess both domestic and international developments that impact these markets.
Diwali 2026: Will banking stocks shine in Samvat 2083? Analysts list top picks
With Diwali 2026 on the horizon, banking stocks like HDFC Bank, ICICI Bank, and Karur Vysya Bank are drawing attention from analysts as potential winners for Samvat 2083. Following a period of volatility, these stocks are anticipated to regain momentum, driven by consistent loan growth and enhanced management practices. Investors are advised to navigate the changing landscape prudently as opportunities unfold.
These 11 private and public banking stocks have an upside of up to 33% in 1 year, according to analysts
It is too early to read a lot into the divergence seen in the stock price movements of private and PSU banks on Tuesday. Neither can it be said with any certainty that it had anything to do with FII buying. Against this background, remember: For any investor interested in the banking sector, the price movements should matter less than what the overall Q2 performance of both private and PSU banks reveals.
IDBI Bank Strike: What's on November 10? Nationwide bank strike, wider protests on the table; here's what you need to know
IDBI Bank Strike: A two-day nationwide strike by IDBI Bank employees and officers against the proposed sale of a majority stake to Canada's Fairfax Financial Holdings ended on Tuesday. The union will decide its next course of action at a meeting on November 10 and may seek support from other bank unions for a nationwide protest. Meanwhile, the Congress has also raised concerns over the proposed Rs 53,000 crore deal.
PNB staffer, Pune man arrested in alleged Rs 10.24 crore bank fraud case
An office assistant of Punjab National Bank in Greater Noida and a private individual have been arrested for alleged fraud. The fraudulent activity involved Rs 10.24 crore in unauthorized withdrawals from multiple customer accounts. Punjab National Bank's investigation began after a customer reported suspicious debit transactions in her account. The accused allegedly carried out the transactions over three years using compromised banking credentials.
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Utkarsh Small Finance Bank reports sixth consecutive quarterly loss
Utkarsh Small Finance Bank experienced a loss of Rs 70 crore in the second quarter, marking six consecutive quarters of decline. The lender’s operating profit was Rs 85 crore, but provisions of Rs 166 crore led to the net loss. Its gross non-performing asset ratio improved slightly, standing at 5.96% at the end of September. The bank's gross loan portfolio saw a year-on-year growth of 7.5%, reaching Rs 20,062 crore.
CCI approves Kotak Mahindra Bank's acquisition of Deutsche Bank's India retail banking business
Kotak Mahindra Bank Limited has received approval from the Competition Commission of India for its acquisition. This acquisition involves Deutsche Bank AG's retail, private banking, and wealth management businesses in India. The deal includes significant assets like loans and deposits, benefiting around 150,000 customers. Additionally, a referral arrangement will be established between both banks through their affiliates.
A month after RBI’s rate hike, banks start raising deposit rates as liquidity shrinks, Bank of India the latest to move
Domestic banks are beginning to increase their deposit rates due to shrinking liquidity conditions in the market. Bank of India recently announced a rate hike on deposits for various maturities, including a special 500-day option. This decision reflects the growing cost of deposits in the banking system as demand for credit rises. Banking system liquidity has significantly decreased from its peak in early September.
PNB, Canara Bank revise FD interest rates: Senior citizens can earn up to 7.25%; compare latest rates
HIghest FD interest rate: Punjab National Bank and Canara Bank have updated their fixed deposit interest rates effective from November 2026. Bank of India also revised its fixed deposit interest rates recently with competitive offers.
Rajasthan man opens bank app to check balance, finds Rs 10,00,00,00,00,000 lien on account where he had Rs 55,000; bank blocks his entire savings
A 22-year-old medical store employee in Rajasthan's Sikar, earning Rs 10,000 a month, found a Rs 1 lakh crore lien on his Kotak Bank account while trying to recharge his phone. His Rs 55,000 savings also became inaccessible. Police and the bank later confirmed a technical glitch, and the hold was lifted.
Bank CD rates surge above 8% amid liquidity squeeze, rising T-Bill yields
Public-sector banks have recently increased one-year certificate of deposit rates beyond 8%, influenced by stricter liquidity and high treasury-bill yields. The reduction in banking liquidity has led to a noticeable rise in CD issuances lately. Observers predict further policy rate hikes to address inflation effectively, signaling that the current rates may not yet reflect their maximum potential amidst ongoing market fluctuations.
IDBI Bank strike on November 2 and 3, 2026: Bank advises customers to use digital channels; removes fee on non-IDBI ATM withdrawals
IDBI Bank strike today: IDBI Bank employees initiated a two-day strike on November 2 and 3, 2026, opposing the sale of the bank's majority ownership. The proposed transaction involves transferring IDBI Bank's stake to Canadian investor Fairfax Financial Holdings. IDBI Bank has encouraged customers to utilise digital services and complete essential transactions before the strike. The United Forum of IDBI Officers & Employees mentioned intimidation from bank management against striking employees.
Bank of India revises FD interest rates: Launches 500-day fixed deposit offering 7.35% rate to senior citizens
Bank of India latest FD interest rates: Effective November 2, 2026, Bank of India has revised its fixed deposit interest rates across various terms. A new option, the 500-day BOI Akshay Deposit, has been introduced with attractive rates specifically for senior and super senior citizens. Regular depositors can enjoy a competitive interest rate of 6.85%. With a minimum investment amount set at Rs 10,000, this offers a great opportunity for secure savings.
Bank of Baroda shares jump 5% after Q2 net profit rises 36%. What Nomura and other brokerages saying?
Bank of Baroda reported a 36% year-on-year rise in Q2 FY27 net profit, aided by gains from the NSE stake sale. Brokerages maintained mixed ratings, with target prices ranging from Rs 260 to Rs 285 per share.
Banks seek microloan guarantee extension
IDFC First Bank and small finance banks such as AU, Jana and Suryoday were among the biggest users of the scheme to reduce credit risk. They have set aside the guarantee fee for the current fiscal year, expecting the government to reopen the window soon, people aware of the matter said.
Banks report 10-50% gains in productivity, turnaround time and costs from AI-led initiatives
Several banks in India have implemented artificial intelligence initiatives that have increased productivity and efficiency significantly. Notably, Kotak Mahindra Bank has improved its handling of corporate servicing volumes by 20-30% with the same workforce. Axis Bank's AI solutions are enhancing customer experience and improving operational efficiency across its operations. HDFC Bank has reported a reduction in service delivery turnaround times by 30%, reflecting the impact of digitization.
Cyberattacks on banks, including AU Small Finance Bank, worry insurers as claim risks rise
Cyberattacks targeting financial institutions have raised concerns about security vulnerabilities and potential losses. AU Small Finance Bank is investigating a possible data breach involving customer information stored on Salesforce. Insurers have recently reported an increase in cyber incidents affecting banks and manufacturers over the past few months. The extent of these breaches and the impacted customer count are still under investigation.
Charting the global economy: Central banks hold rates steady
Global central banks have opted to keep interest rates unchanged amidst growing inflation worries stemming from energy costs. While the Federal Reserve and the European Central Bank signaled potential hikes during their December meetings, the US economy displays robust growth from business investments and consumer activity.
IDBI Bank employees' forum opposes Fairfax stake sale, seeks parliamentary review
The United Forum of IDBI Officers and Employees has opposed the planned sale of IDBI Bank's majority stake. They have requested an immediate suspension of the sale process due to market volatility. The forum argues that the decision lacks adequate justification and transparency. They are calling for a comprehensive review under parliamentary scrutiny, emphasizing the need for caution.
"What's the hurry?": BRS questions IDBI Bank valuation, seeks answers from Centre over proposed sale
K T Rama Rao raised concerns regarding the proposed sale of IDBI Bank to Fairfax Financial Holdings. He highlighted potential undervaluation and transparency issues in the bidding process. Rao questioned the assessment of the bank's prime real estate assets in Hyderabad. Concerns from IDBI Bank employees about the sale have reportedly not been addressed by the Union Government.
Bank of Baroda's Q2 profit surges 36% YoY on NSE stake sale
In a remarkable financial performance, Bank of Baroda reported a staggering 36% rise in net profit for the second quarter, reaching ₹6,532 crore. This surge was propelled by significant non-interest income, recoveries from previously written-off accounts, and gains from the partial sale of its stake in the National Stock Exchange.
Saturday bank holiday: Are banks open or closed today on October 31, 2026?
Indian banks observe closures on the second and fourth Saturdays of every month. Despite holidays, digital banking remains available for customers. October and November bring a series of holidays that may impact banking hours in certain locations, prompting patrons to take advantage of online banking services during these breaks.
FCNR bounty in Q2 masks bank issues in growing deposits
An analysis of 10 banks shows that reported deposit growth averaged 21.1% year-on-year during July-September. However, excluding the special foreign currency inflows, domestic deposit growth was estimated at just 12.2%-a massive gap of nearly nine percentage points.
Sitharaman says NDA revived IDBI Bank after UPA-era bad loan crisis
In response to Rahul Gandhi's opposition to IDBI Bank's privatisation, Nirmala Sitharaman stressed the successful recovery of the bank thanks to the NDA government's strategies. She pointed to the previous UPA government's fiscal mismanagement, which caused notable losses. Sitharaman also discussed the reviewed valuation process for the stake sale, criticising Gandhi for his attempts to politicize banking matters and the undue stress placed on bank staff during earlier administrations.
Bank of Baroda Q2 Results: Standalone profit jumps 36% YoY to Rs 6,532 crore; NII up 9%
Bank of Baroda reported a 35.8% year-on-year rise in standalone net profit to Rs 6,532 crore in Q2FY27. Net interest income grew 9% to Rs 13,026 crore, while asset quality improved, with the gross NPA ratio declining to 1.78%. Global advances and deposits also recorded double-digit growth.
“During Congress’s time, banks were created; in Modi era, they are being sold”: Rahul Gandhi targets govt over IDBI Bank sale
Rahul Gandhi has criticised the Centre's proposed sale of a 60.72% stake in IDBI Bank, questioning the privatisation of a profitable public sector lender. Backing the bank's employees, he flagged concerns over reservation provisions, service conditions and pension benefits as the government defended the disinvestment bidding process.
Kotak Bank shares gain 30% since April as earnings outlook brightens
Kotak Mahindra Bank shares experienced a significant rise, reaching a record high as growth prospects improved. The stock has shown a substantial increase of nearly 30% since April. Analysts anticipate stronger earnings attributed to various financial factors such as credit growth and higher lending rates. Improved asset quality and lower credit costs are expected to enhance profitability. This positive trajectory follows a period of stagnant performance between 2021 and 2024.
West Asia conflict drives 15-20% rise in corporate working-capital demand at banks
Working-capital demand from banks has increased significantly due to the ongoing conflict in West Asia. Higher raw-material costs and elongated shipping timelines have led to greater funding needs for corporates. Mid- and large-sized companies reported a 12-20% increase in working-capital requirements. Several private sector banks have recorded strong growth in corporate lending during the recent quarter. This momentum was driven primarily by working capital needs and refinancing efforts.
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