Banking

The central government is preparing to offload part of its holding in Bank of Maharashtra, lowering its stake to 75% in compliance with market regulations and to enhance public participation. The move, expected to be carried out through a secondary market sale, forms part of the broader disinvestment roadmap aimed at improving efficiency, transparency, and capital market depth in state-owned enterprises. With Bank of Maharashtra emerging as one of the fastest-growing public-sector lenders, the stake sale is likely to attract significant investor interest.

In a significant development within India’s banking sector, Bank of India (BoI) has officially categorized Reliance Communications Ltd. (RCom) and its chairman Anil Ambani as “fraud” accounts. The decision follows years of financial turmoil surrounding the telecom operator, once a major player in India’s mobile services industry. By taking this step, BoI joins other lenders that have intensified scrutiny over high-profile defaults.

Punjab National Bank (PNB), one of India’s leading public sector lenders, is set to undertake a major restructuring of its credit card operations from November. The move is aimed at strengthening its market position, enhancing customer engagement, and expanding its digital offerings at a time when the credit card industry is witnessing rapid growth. The revamp is expected to align PNB’s card business with evolving consumer preferences, regulatory directives, and competitive pressures from private players and fintech-led issuers.

Bandhan Bank, one of India’s youngest universal banks, has completed ten years of operations, marking a decade of financial inclusion, community upliftment, and sustained growth. From its origins as a microfinance institution, the bank has expanded into a full-fledged financial services provider with a nationwide presence, serving millions of customers across urban, semi-urban, and rural areas. Its journey reflects not only business expansion but also a social mission of empowering underbanked populations, particularly women entrepreneurs and small businesses.

Punjab National Bank (PNB) has signed a memorandum of understanding with the Central Reserve Police Force (CRPF) to provide a tailored package of insurance and financial benefits to serving and retired personnel. The initiative is aimed at strengthening social security for India’s largest paramilitary force, ensuring financial protection for members and their families. The pact covers a wide range of services, including accident and health insurance, concessional loans, and dedicated banking assistance.

Indian equity markets closed lower on Wednesday, as selling pressure in heavyweight information technology and banking stocks offset earlier gains. After a strong start to the week, investor sentiment weakened amid concerns over global economic trends and cautious foreign institutional flows. The benchmark indices gave up early advances, reflecting heightened volatility as traders booked profits in key sectors. IT stocks bore the brunt of selling, while banking counters also registered notable declines, dragging the indices into the red.

ICICI Bank, one of India’s largest private sector lenders, has increased the minimum average balance requirement for certain accounts to Rs. 50,000, marking a significant change in its account maintenance policy. The move, aimed at optimizing deposit quality and improving operational efficiency, may impact a segment of its customer base, particularly in metro and urban centers.

Reliance Group Chairman Anil Ambani recently recorded his statement before the Enforcement Directorate (ED) in connection with an ongoing investigation under the Foreign Exchange Management Act (FEMA). The development marks a critical step in the agency’s probe into alleged irregularities involving foreign transactions. While specific case details remain undisclosed, the appearance of a high-profile industrialist signals the government’s intensifying scrutiny of cross-border financial dealings.

Punjab National Bank (PNB), India’s second-largest public sector lender, has unveiled an aggressive profitability roadmap, setting a bold target of Rs. 16,000 crore net profit for the financial year 2025–26. After reporting steady growth in FY24 and continuing its momentum in the current fiscal, the bank is banking on improved asset quality, digital transformation, and an expanding credit portfolio to drive earnings.

Punjab National Bank (PNB), one of India's largest state-run lenders, reported a sharp 48% year-on-year decline in its net profit for the first quarter of FY2025, coming in at Rs. 1,675 crore. The downturn was largely attributed to a significant spike in provisions and contingencies, despite growth in both net interest income and advances. While operational performance showed improvement, the steep rise in provisioning impacted bottom-line performance.