BANKS
Under attack, banks bolster cyber covers, opt for higher sum assured to protect against hits
For large financial institutions, the biggest impact often is the loss arising from systems remaining unavailable after an attack, rather than the immediate cost of the breach. Besides business interruption, ransomware, data theft, cyber extortion and third-party liabilities are among the key risks.
Diwali/ Laxmi Puja bank holiday: Are banks open or closed today on November 9, 2026?
Bank branches will close in certain states on November 9, 2026, for Diwali and related festivities. Customers should verify bank operating hours in their regions before planning any bank visits. Celebrations including Diwali/Laxmi Puja will lead to closures in several states like Uttar Pradesh and Madhya Pradesh. Other states and union territories will maintain regular operations on this day.
Bond yields muddy the books as banks prepare for new accounting rules
With a new accounting framework approaching in April 2027, Indian banks like Canara Bank and Central Bank of India are adjusting their transition costs and reassessing their portfolios. Recent fluctuations in government bond yields, driven by economic factors such as oil prices and currency volatility, have led banks to increase their expected credit loss provisions.
Agri loans emerge as biggest asset quality risk for Indian banks
Agricultural loans in India are currently facing significant asset-quality risks, with bad-loan ratios surpassing other sectors. The gross non-performing asset ratio for agricultural loans is at 5.1%, compared to 1.5% for industry and services. Factors such as a poor monsoon have contributed to this situation, although agricultural bad loans have declined since 2020-21. Various banks have reported increased agricultural loan slippages but maintain a cautious outlook on borrower stress.
Diwali bank holiday 2026: November 9, 10 or 11? Confused which day is Diwali's bank holiday? Here’s the answer!
Diwali bank holiday 2026: Bank branches in India will observe different holidays for Diwali celebrations on November 9, 10, and 11, 2026. Some states will close banks on November 9 for Diwali and Laxmi Puja festivities, while others will observe the holiday on November 10. States including Gujarat and Maharashtra will close banks on November 10 for Bali Pratipada and Govardhan Puja.
Paraguay's ousted president faces prosecutors after his removal over bank collapse
Santiago Pena was removed from office by Congress following a bank failure affecting nearly three million customers. Prosecutors ordered his arrest for alleged breach of trust and other offenses related to Ueno Bank's collapse. His successor, Vice President Pedro Alliana, began forming a new Cabinet to address the situation. Public protests demanding accountability and access to frozen funds escalated significantly in response.
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J&K Bank announces recruitment drive, PDP MLA, aspirants demand increase in age limit, priority to merit
The Jammu and Kashmir Bank has announced a recruitment drive for 1,356 positions, including probationary officers and banking associates. Aspirants have raised concerns regarding the age limit of 30 years, requesting an extension to 40 years. The online application period is set to begin on November 7 and end on November 26, 2026.
State Bank of India expands US footprint with new branch in Texas
State Bank of India expanded its banking subsidiary footprint in the United States with the inauguration of a new branch of SBIC Bank in Frisco, North Dallas, Texas. The branch, inaugurated by SBI Chairman Challa Sreenivasulu Setty, represents the subsidiary's first office outside California and takes its total branch count in the country from seven to eight.
How a banking scandal is taking down Trump’s ally in Paraguay
Paraguay's Ueno Bank has collapsed, leaving customers locked out of their accounts and prompting nationwide protests. President Santiago Peña faces impeachment while being linked to the bank's swift downfall amid allegations of misconduct. The Central Bank had found serious issues with Ueno’s lending practices prior to its seizure, which caused it to be declared insolvent. Regulators found that the bank issued loans beyond legal limits without proper categorization.
FD rate up to 8.6% for senior citizens investing for five years; know the list of banks
Senior citizens can invest in fixed deposits with interest rates reaching up to 8.6%. Suryoday Small Finance Bank leads with these attractive rates for a five-year term. Jana Small Finance Bank follows, offering an 8% interest rate on similar deposits.
Ousted Paraguayan President Santiago Pena placed under house arrest after bank collapse; Pedro Alliana sworn in as sudden successor
Santiago Pena, the ousted President of Paraguay, was placed under house arrest on charges of misconduct. His removal follows the collapse of Ueno Bank, affecting nearly half of Paraguay's population. Vice President Pedro Alliana has assumed presidency amidst public outcry for accountability. Regulators seized Ueno Bank, locking depositors out of their accounts and triggering a political crisis. Lawmakers allege Pena abused his political influence regarding Ueno's operations and regulatory oversight.
Saturday bank holiday: Are bank branches open today, November 7, 2026? Check details
Customers should mark November 7, 2026, on their calendars as banks will be fully operational on this first Saturday of the month. They will be able to process cash deposits, withdrawals, and cheque services. However, bank closures will occur on the second and fourth Saturdays. Additionally, with upcoming holidays such as Diwali and Guru Nanak Jayanti, it’s advisable to check the holiday schedule for effective banking planning.
Stock Radar: Karur Vysya Bank stock retreats from October highs; took support above 50-DMA; time to buy?
Karur Vysya Bank stock rebounded after testing its 50-DMA and broke out of a multi-month ascending triangle pattern. Supported by strong trading volumes and bullish EMA alignment, analysts recommend buying the stock with a positional target of Rs 460 and a weekly closing stop-loss set at Rs 280.
CBI books Kishore Biyani, Future Retail in Rs 904-crore bank fraud case
The Central Bureau of Investigation has initiated a case against Kishore Biyani along with Future Retail Ltd. This case pertains to an alleged bank fraud involving a total of Rs 904.32 crore. The complaint was filed by the State Bank of India's Stressed Assets Management Branch-III in Mumbai. Allegations include criminal conspiracy along with cheating against the accused parties.
Dhanteras bank holiday: Will banks be open or closed today, November 6, 2026?
Banks in India will remain open on Dhanteras, which falls on November 6, 2026? Although most transactions can be completed online, some may require in-person visits. It is advisable for customers to check with their banks about specific transaction requirements beforehand. Dhanteras is not a holiday under the Negotiable Instruments Act.
SoftBank credit default swaps hit 4-year high as AI profitability concerns mount
SoftBank Group’s five-year credit default swap spread climbed to a four-year high as investors grew increasingly concerned about the profitability of artificial intelligence investments. Rising borrowing costs, questions over returns from its OpenAI investment and uncertainty surrounding AI infrastructure spending have added to credit market concerns.
Paraguay President Santiago Pena resigns after bank takeover sparks protests, threatens millions of depositors
Paraguayan President Santiago Pena announced his resignation after the central bank's takeover of Ueno Bank left three million depositors, including pensioners, unable to access their money. The crisis triggered protests, an impeachment push and accusations of political favouritism against Pena, whose own Colorado Party backed his removal.
Woman went to operate bank locker, found it surrendered, Rs 47 lakh jewellery missing; sought Rs 48 lakh compensation, gets big relief in consumer commission
A Delhi woman found that her bank locker, which contained jewellery worth Rs 47 lakh, had been surrendered. The bank continued to charge her annual rent even after the locker was surrendered without notification. After approaching the Consumer Commission, the bank was found liable for the loss and faulty handling of the locker. Know what the Commission ordered in the case.
Bank account frozen suddenly? Check why it happened, how to unfreeze it and recover your money
For individuals affected by the freezing of their bank accounts due to untraceable money sources, remedy is available via the Grievance Redressal Mechanism (GRM) and the Money Restoration Module (MRM). Users can contest any debit freezes by filing official complaints through GRM. Meanwhile, MRM aids in reclaiming disputed funds after thorough verification.
HDFC Bank increases FD interest rates by up to 50 bps: Senior citizens can now earn up to 7.20%; check revised rates
Latest HDFC Bank FD interest rates: HDFC Bank has updated its fixed deposit interest rates as of November 4, 2026. Senior citizens can now secure a top interest rate of 7.20% for deposits ranging from 3 years and 1 day to 5 years. For general customers, the maximum interest rate is set at 6.60% for deposits held between 5 years and 1 day to 10 years.
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
HDFC Bank's Parivartan bolsters agricultural livelihoods in Kashmir through market linkages
As part of its Corporate Social Responsibility initiative, HDFC Bank has taken initiatives to boost agricultural productivity in the Kashmir region. This program has successfully raised revenues for local Farmer Producer Organisations, including one that reached Rs 1.4 crore. Farmers are receiving training to process and market their goods effectively, creating direct sales links for improved pricing.
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.
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.
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.
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