New Delhi, April 30 (IANS) As many as 50,552 candidates have been selected and issued offer letters to work for public sector banks during FY 2025-26, representing a 33 per cent jump over the corresponding figure of 37,860 in FY 2024–25, the Finance Ministry said on Thursday.The sharp rise in recruitment builds on the trend observed in preceding years, with 30,827 new entrants joining public sector banks in FY 2023–24. The figures for the last three years reflect a clear and sustained year-o…
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New Delhi, April 20 (IANS) The Central Bureau of Investigation (CBI) has arrested two senior executives of Anil Ambani-controlled Reliance Communications (RCom), D. Vishwanath and Anil Kalya, in connection with the Rs 19,694 crore bank fraud case registered against the company, according to an agency statement on Monday.The CBI had registered a regular case against Reliance Communications Limited, Anil D Ambani, and unknown others on the complaint of State Bank of India (SBI), on the allegations…
New Delhi, April 19 (IANS) India’s banking sector remained resilient, supported by improved asset quality, strengthening capital buffers, robust retail and SME credit momentum, and early signs of revival in private capital expenditure, a survey showed on Sunday.The survey from FICCI and Indian Bank Association (IBA) said the banking sector maintains a broadly constructive outlook on credit growth over the near term, supported by improving balance sheets, steady economic activity, and sustained…
New Delhi, April 14 (IANS) Gold loans in India have expanded fourfold over the past three years, with the average ticket size nearly doubling to nearly Rs 2 lakh, indicating a sharp rise in borrower demand and growing acceptance of gold-backed credit, a report showed on Tuesday.According to a report by TransUnion CIBIL, gold loan balances have grown nearly four times since March 2022, with their share in India’s retail credit portfolio rising from 5.9 per cent to around 11 per cent by December…
New Delhi, April 9 (IANS) Despite mounting risks from rising crude, a weaker rupee, India’s growth momentum continues to remain robust, with Q3 GDP expanding by 7.8 per cent and full-year FY26 growth projected at 7.6 per cent, healthy private consumption growth and manufacturing push, a report said on Thursday.The recent market corrections created a favourable valuation backdrop, with the Nifty trading at a 5.6 per cent discount to its five-year average PE, enhancing the medium-term risk-rewar…
New Delhi, April 2 (IANS) India’s systemic credit growth stood at 13.8 per cent (as of March 15), supported by liquidity buffers and a consumption‑led recovery after GST cuts, a report said on Thursday.The report from Motilal Oswal Financial Services said banks have room to further expand their credit‑to‑deposit (CD) ratios as deposit growth remained stable at 10.8 per cent while the CD ratio climbed to 83 per cent with faster credit growth.”With competition for deposits remaining intens…
New Delhi, March 24 (IANS) The government has stepped up efforts to help citizens reclaim over Rs 73,000 crore lying unclaimed across banks, insurance companies and mutual funds, with regulators rolling out simplified claim processes, digital tracking platforms and nationwide awareness drives, the Parliament was informed on Tuesday.Minister of State for Finance Pankaj Chaudhary said in Rajya Sabha that unclaimed deposits with public sector banks have crossed Rs 60,500 crore, while regulators are…
New Delhi, March 17 (IANS) Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha, on Tuesday, raised the issue of minimum account balance penalties in the Upper house of Parliament, urging the Union government to end such charges on small bank accounts, saying that they disproportionately affect the poor and financially vulnerable.Speaking in the Rajya Sabha, Chadha said banks have collected nearly Rs 19,000 crore in penalties over the last three years from customers, who failed to maintain the req…
New Delhi, March 6 (IANS) Credit card spending in India rose 8.1 per cent year-on-year (YoY) to Rs 2.05 lakh crore in January 2026, driven by momentum in e-commerce transactions, a report showed on Friday.The report by CareEdge Ratings also said that public sector banks (PSBs) registered a 7.1 per cent YoY growth in outstanding cards — a significant jump compared to private banks.In terms of transactions, digital payments continued to dominate credit card usage, with e-commerce accounting for o…
New Delhi, Feb 26 (IANS) India’s lending industry’s assets under management stood at Rs 130 lakh crore as of December 2025, reflecting a strong 17 per cent year‑on‑year growth, a report said on Thursday.The report from data and technology company Experian said credit sourcing of new loans in Q3 FY26 grew 36 per cent YoY compared to 7 per cent a year earlier, driven by sustained demand from consumers and businesses, the report further said.The report highlighted strong growth in lending activ…