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Bank of Baroda plans to double size in five years to outcompete global rivals

Bank of Baroda plans to double size in five years to outcompete global rivals

Bank of Baroda, India’s second-biggest state lender, says it aims to double its balance sheet within five years. CEO Debadatta Chand points to expected economic growth, rising credit demand, and a push into fee-based income. He also argues that scale and capital strength will be crucial as policymakers discuss creating even larger state-run banks.

Summarised by Beize from a story on The Economic Times on 14 May 2026
RBI set for record dividend to government this year as board decides payout

RBI set for record dividend to government this year as board decides payout

The Reserve Bank of India is expected to transfer its highest-ever dividend to the central government, giving the Centre a fresh fiscal cushion. The RBI board will decide the exact amount this month. The news also aligns with reports of record profits at public sector banks, lifting expectations for government revenue.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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State banks post record Rs 1.98 lakh crore profit FY26 as asset quality and growth surge

State banks post record Rs 1.98 lakh crore profit FY26 as asset quality and growth surge

Public sector banks hit an all-time high net profit of Rs 1.98 lakh crore in FY 2025-26, extending four straight years of strong performance. FinMin attributes the jump to improved asset quality, faster credit growth, and higher incomes. With capitalization also strengthened, these banks are expected to back India’s next phase of economic expansion.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Banks urged to expand digital infrastructure to boost last mile financial access

Banks urged to expand digital infrastructure to boost last mile financial access

Financial services secretary M Nagaraju reviewed progress on financial inclusion schemes with public sector and major private banks, urging them to expand digital infrastructure for stronger last-mile reach. The focus is to improve access for underserved communities, moving services beyond physical branch networks by widening connectivity and adoption of digital financial tools.

Summarised by Beize from a story on The Economic Times on 6 May 2026
Public sector banks race into wealth management as deposits lose ground to market linked products

Public sector banks race into wealth management as deposits lose ground to market linked products

Public sector banks are building wealth management businesses as Indian households shift savings from bank deposits to market linked instruments and risk products. Indian Bank plans a dedicated wealth management vertical for high net worth customers, while State Bank of India wants to multiply wealth assets under management fivefold to Rs 15 lakh crore by 2030 to boost customer engagement.

Summarised by Beize from a story on The Economic Times on 3 May 2026
Indian public banks ramp up IT spending to counter AI cyber threats from Anthropic Mythos

Indian public banks ramp up IT spending to counter AI cyber threats from Anthropic Mythos

Indian public sector banks are accelerating IT spending to protect customer data and core financial systems as newer AI tools raise the cybersecurity stakes. Tools such as Anthropic’s Claude Mythos are being flagged for their potential to enable or amplify attacks. Banks are simultaneously upgrading defenses while a government panel evaluates AI-driven cyber risks to keep the sector secure.

Summarised by Beize from a story on The Economic Times on 3 May 2026

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FinMin orders banks to expand hiring and promotions for persons with benchmark disabilities

FinMin orders banks to expand hiring and promotions for persons with benchmark disabilities

The Finance Ministry has directed public sector banks and financial institutions to reserve roles for people with benchmark disabilities in both direct recruitment and promotions. The Department of Financial Services issued the instructions and also mandated regular meetings with PwD Employees Welfare Associations, ensuring concerns are reviewed and employees have a structured voice in decisions.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
Finance Ministry orders public banks to finish wage revision talks within a year

Finance Ministry orders public banks to finish wage revision talks within a year

The Finance Ministry has asked public sector banks to kick off wage revision discussions for employees and officers, setting a tight timeline. Negotiations for the 13th Bipartite settlement are expected to be finalised within 12 months, ahead of the revision becoming effective from November 1, 2027. The government wants an early closure to protect industrial harmony.

Summarised by Beize from a story on The Economic Times on 26 Apr 2026
Bank deposits can fuel emissions so Indian public banks face climate risk now and longer term

Bank deposits can fuel emissions so Indian public banks face climate risk now and longer term

Indian public-sector banks are highly exposed to climate risk because their lending is concentrated in energy, metals, and mining. While a few banks have started taking small steps, many still under-assess how climate change affects their portfolios and fail to manage the environmental impact of their operations—leaving deposits indirectly linked to rising emissions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Banks urged to switch to quantum resistant encryption before computers crack today’s codes

Banks urged to switch to quantum resistant encryption before computers crack today’s codes

The finance ministry has asked India’s public sector banks to explore quantum-resistant encryption as a shield against future quantum computing threats. Experts say quantum computers could eventually break today’s widely used encryption. The push aligns with the National Quantum Mission’s work on quantum communication networks, aiming to keep financial systems secure as the technology landscape shifts.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Public bank recruitment exams overhaul announced with SBI results first to cut attrition

Public bank recruitment exams overhaul announced with SBI results first to cut attrition

The Finance Ministry has revised recruitment examination and result-declaration timelines for public sector banks to streamline processes and boost transparency. Under the new sequence, SBI will announce results first, followed by nationalised banks, and then regional rural banks. The change is intended to reduce candidate attrition and support better workforce planning across these institutions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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