The bank offers a comprehensive range of banking products and services, including retail banking, corporate banking, treasury, and wealth management. It caters to individuals, businesses, and institutions, offering deposit accounts, loans, credit cards, and investment products. Indian Bank has been focusing on leveraging technology to enhance its digital banking services, offering mobile banking, internet banking, and other digital platforms.
Indian Bank’s strengths include its extensive network, strong brand recognition, and experience in serving a wide range of customers. As a public sector bank, it also benefits from government support. However, like other banks, it faces challenges such as managing non-performing assets (NPAs), competition from private sector banks, and adapting to the evolving financial landscape.
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Eight banks, including PNB, Indian Bank, ICICI Bank, and Jana SFB, have revised their fixed deposit rates, with seniors now eligible for up to 8.00% interest.
The Indian government has maintained the interest rates for small savings schemes for the last quarter of the fiscal year 2024-25. However, several banks have reduced their fixed deposit (FD) rates. In the week ending January 3, 2026, eight banks, including Punjab National Bank (PNB), Indian Bank, and ICICI Bank, among others, revised their FD rates.
For senior citizens, the revised rates vary across banks. Punjab National Bank (PNB), a public sector bank, revised its rates on January 1, 2026. Senior citizens can earn a maximum interest rate of 6.90%, while super seniors (80 years and above) can earn up to 7.20%. The revised rates for seniors at PNB are as follows: 6.60% for one year, 6.80% for more than one year to 389 days, 6.90% for 390 days, and 6.80% for 391 days to 505 days.
The rates for seniors at PNB are also 6.80% for 506 days, 6.80% for 507 days to two years, and 6.80% for more than two years to three years. For longer tenures, the rates are 6.60% for more than three years to 1203 days, 6.55% for 1,204 days, and 6.60% for 1,205 days to five years. The rates for tenures exceeding five years are 6.80% for more than five years to 1894 days, 6.80% for 1,895 days, and 6.80% for 1,896 days to 10 years.
Super seniors at PNB can earn 0.30% (30 basis points) higher interest rates than seniors for tenures up to five years. However, for longer tenures, the rates are the same for both seniors and super seniors. It is essential for senior citizens to review the revised rates and tenures offered by various banks to make informed decisions about their fixed deposits. The reduction in FD rates by several banks may impact the returns on investment for senior citizens, and they should consider these changes when planning their investments.
Karthikeyan Manickam takes over as Chairman of ESAF Small Finance Bank
ESAF Small Finance Bank has appointed Karthikeyan Manickam as its new Chairman. With over 36 years of experience in public sector banking, Karthikeyan brings a wealth of expertise to the role. He previously served as Executive Director of Bank of India, where he was part of the top management team and played a key role in shaping policies and strategies across various portfolios. His areas of expertise include banking operations, risk management, regulatory compliance, human resources management, and financial inclusion.
As Chairman of ESAF Small Finance Bank, Karthikeyan will provide strategic guidance and independent oversight to the Board. His primary focus will be on promoting inclusive banking, improving asset quality, ensuring regulatory compliance, and driving sustainable growth. He will also prioritize delivering high standards of customer service, which will help to reinforce stakeholder confidence in the Bank.
Karthikeyan’s experience in public sector banking is extensive, having held senior leadership positions at Indian Bank and served on the boards of several other financial institutions, including Tamil Nadu Grama Bank and BOI STAR Investment Managers Pvt. Ltd. He was also the Chairman of Star Union Dai-ichi Life Insurance Company Limited (SUD Life). His expertise in risk management, credit monitoring, and recovery will be particularly valuable to ESAF Small Finance Bank as it navigates an increasingly dynamic financial environment.
The appointment of Karthikeyan as Chairman is expected to support the Bank’s continued growth and development. His leadership will help to drive the Bank’s mission of promoting financial inclusion and delivering high-quality customer service. With his extensive experience and expertise, Karthikeyan is well-positioned to guide the Bank towards achieving its strategic objectives and reinforcing its position in the financial services sector. Overall, the appointment of Karthikeyan as Chairman of ESAF Small Finance Bank is a significant development that is expected to have a positive impact on the Bank’s future growth and success.
Senior citizens can earn up to 8% interest rate for a 3-year investment; check the complete list of participating banks.
For senior citizens investing for a period of three years, several banks are offering a fixed deposit (FD) rate of up to 8%. This is a significant incentive for seniors who are looking to grow their savings while minimizing risk.
The banks offering these high FD rates for senior citizens include major players in the banking industry. Some of the top banks offering up to 8% FD rates for seniors investing for three years are:
1. Bank of Baroda: Offering 7.75% to 7.95% interest rates for senior citizens, depending on the deposit amount and tenure.
2. Canara Bank: Providing 7.75% to 7.9% interest rates for senior citizens, with varying rates based on deposit amount and tenure.
3. Indian Bank: Offering 7.75% interest rate for senior citizens, with higher rates applicable for larger deposits.
4. Punjab National Bank: Giving 7.75% to 7.9% interest rates for senior citizens, depending on the deposit amount and tenure.
5. State Bank of India (SBI): Offering 7.6% to 7.8% interest rates for senior citizens, with varying rates based on deposit amount and tenure.
6. ICICI Bank: Providing 7.75% to 7.9% interest rates for senior citizens, with higher rates applicable for larger deposits and longer tenures.
7. HDFC Bank: Offering 7.75% to 7.9% interest rates for senior citizens, with varying rates based on deposit amount and tenure.
These high FD rates can help senior citizens earn substantial interest on their deposits, ensuring a steady income stream during their retirement years. It’s essential to note that the interest rates may vary depending on the bank, deposit amount, and tenure chosen.
Before investing, senior citizens should carefully review the terms and conditions of the FD, including any penalties for early withdrawal and the minimum deposit requirements. They should also consider their individual financial goals, risk tolerance, and liquidity needs before making a decision.
It’s worth mentioning that senior citizens can also explore other investment options, such as senior citizen savings schemes, provident funds, and pension plans, which may offer higher returns and additional benefits. However, FDs remain a popular choice for seniors due to their low-risk nature and fixed returns.
In conclusion, the high FD rates offered by banks for senior citizens can be an attractive option for those looking to grow their savings over a three-year period. Seniors should carefully evaluate the various options available, considering their individual financial needs and goals, before making an informed investment decision.
Stock Market Updates of Indian Bank
Recent Updates
How a Product Roadmap Can Shape the Future Pros-value of Suryoday Small Finance Bank Limited: Leveraging Sector Rotation Strategies for Unparalleled Market Success – earlytimes.inAlternatively, here is another version:Unlocking Suryoday Small Finance Bank Limited’s Future Potential: The Impact of Product Roadmap on Value Creation – Expert Insights on Sector Rotation and Unmatched Market Performance – earlytimes.in
The article discusses how a product roadmap can impact the future value of Suryoday Small Finance Bank Limited, an Indian bank that provides financial services to underserved populations. A product roadmap is a plan that outlines the development and launch of new products or services, and it can have a significant impact on a company’s growth and success.
The article suggests that a well-planned product roadmap can help Suryoday Small Finance Bank Limited to stay competitive in the market, improve its customer experience, and increase its revenue. The bank can achieve this by identifying areas where it can innovate and improve its existing products and services, and by developing new products that meet the changing needs of its customers.
The article also discusses the concept of sector rotation strategies, which involves shifting investments from one sector to another in response to changes in the market. This strategy can help investors to minimize their losses and maximize their gains by investing in sectors that are expected to perform well. The article suggests that Suryoday Small Finance Bank Limited can benefit from sector rotation strategies by identifying areas where it can invest its resources to maximize its returns.
Furthermore, the article highlights the importance of unmatched market performance, which refers to the ability of a company to outperform its competitors in the market. The article suggests that Suryoday Small Finance Bank Limited can achieve unmatched market performance by developing a strong product roadmap, improving its customer experience, and investing in areas that are expected to drive growth.
Overall, the article concludes that a product roadmap can have a significant impact on the future value of Suryoday Small Finance Bank Limited. By developing a well-planned product roadmap, the bank can stay competitive, improve its customer experience, and increase its revenue. Additionally, by using sector rotation strategies and focusing on unmatched market performance, the bank can maximize its returns and achieve long-term success.
In the context of Suryoday Small Finance Bank Limited, a product roadmap can help the bank to expand its product offerings, improve its digital channels, and enhance its customer experience. The bank can also use sector rotation strategies to invest in areas such as digital payments, microfinance, and small business lending, which are expected to drive growth in the Indian banking sector. By focusing on unmatched market performance, the bank can differentiate itself from its competitors and achieve long-term success.
South Indian Bank CEO Seshadri remains cautious about gold loans, even as demand surges amidst skyrocketing gold prices.
The South Indian Bank has seen a significant increase in demand for gold loans due to the rising prices of gold, with its gold loan portfolio growing by Rs 2,236 crore in Q2, a 13% rise from the same period last year. However, the bank is exercising caution and reassessing margins and loan-to-value ratios to manage risks from the rapid price increase.
According to the bank’s CEO and MD, PR Seshadri, the net interest margins (NIMs) declined by 23 basis points to 2.8% in Q2, but the bank believes this marks the bottom and margins should start improving from here. The bank’s loan mix is changing rapidly, with MSME and retail disbursements growing sharply, which should lead to higher NIMs.
The bank is also seeing strong growth in its CASA (current account and savings account) ratio, which has been steady in the 30-32% range. The bank aims to move its CASA ratio into the high-30s over the next two to three years.
In terms of demand for loans, the bank expects momentum to pick up in Q3, especially in auto loans. The bank is also open to financing mergers and acquisitions, but its capital base limits its single-borrower exposure.
The bank has estimated additional provisions under the proposed Expected Credit Loss (ECL) norms, but does not expect a significant increase in provisions. The bank’s provision coverage ratio is over 90%, which is quite robust.
Finally, the bank’s NRI deposits have grown strongly over the two quarters, and the bank expects this growth to accelerate due to the rupee’s depreciation against the dollar and attractive domestic rates. The bank is optimistic of achieving double-digit growth in this segment during the year.
Overall, the South Indian Bank is seeing strong growth in its gold loan portfolio and other segments, but is exercising caution to manage risks. The bank is also focusing on improving its NIMs and CASA ratio, and is open to new opportunities such as financing mergers and acquisitions.
The bank’s CEO, PR Seshadri, expressed optimism about the bank’s future prospects, citing the strong growth in MSME and retail disbursements, and the bank’s robust provision coverage ratio. However, he also noted that the bank needs to manage the risks associated with the rapid increase in gold prices, and is reassessing its margins and loan-to-value ratios accordingly.
The bank’s strong growth in NRI deposits is also a positive sign, and the bank is well-positioned to take advantage of the opportunities in this segment. Overall, the South Indian Bank is well-placed to achieve strong growth and improve its profitability in the coming quarters.
The bank’s ability to manage risks and seize new opportunities will be crucial in achieving its goals. The bank’s focus on improving its NIMs and CASA ratio, and its openness to new opportunities such as financing mergers and acquisitions, are all positive signs.
The bank’s strong provision coverage ratio and robust balance sheet also provide a solid foundation for growth. Overall, the South Indian Bank is a strong and well-managed bank that is well-positioned to achieve strong growth and improve its profitability in the coming quarters.
Indian Bank Launches ‘Financial Inclusion Saturation Program’ in Thiruvallur, Boosting Access to Financial Services in the Region
Indian Bank recently organized a ‘Financial Inclusion Saturation Program’ in Thiruvallur, aiming to promote financial inclusion and banking services among the unbanked and underbanked populations in the region. The program is part of the bank’s efforts to expand its reach and provide accessible financial services to all segments of society.
The event was attended by various stakeholders, including bank officials, local government representatives, and community leaders. The program focused on creating awareness about the importance of financial inclusion, the benefits of banking services, and the various initiatives undertaken by the bank to promote financial literacy and accessibility.
Indian Bank has been actively working towards achieving the goal of financial inclusion, which is a key objective of the government’s financial inclusion policy. The bank has been taking various initiatives to expand its reach, including the opening of new branches, extension counters, and ultra-small branches in rural and semi-urban areas.
The ‘Financial Inclusion Saturation Program’ is a comprehensive program that aims to provide banking services to all households in the region. The program involves door-to-door surveys to identify unbanked and underbanked households, followed by the opening of new accounts and provision of banking services. The bank also provides training and financial literacy programs to help customers manage their finances effectively.
The program has been successful in promoting financial inclusion in the region, with a significant number of new accounts being opened and banking services being provided to previously unbanked households. The bank has also seen an increase in the use of digital banking channels, including mobile banking and internet banking, which has helped to improve the accessibility and convenience of banking services.
The ‘Financial Inclusion Saturation Program’ is an example of Indian Bank’s commitment to promoting financial inclusion and providing accessible banking services to all segments of society. The program has the potential to make a significant impact on the lives of people in the region, by providing them with access to formal banking channels and helping them to manage their finances more effectively. Overall, the program is a step in the right direction towards achieving the goal of financial inclusion and promoting economic growth and development in the region.
Indian Bank Offers Up to 7.45% Interest Rate: Deadline for IND Secure and IND Green Special Fixed Deposit Investments Extended
Indian Bank has extended the deadline for its special fixed deposit (FD) schemes, IND Secure and IND Green, which offer interest rates of up to 7.45%. The bank had launched these schemes in November 2022, with an initial deadline of March 31, 2023. However, due to the popularity of the schemes, the bank has decided to extend the deadline to June 30, 2023.
The IND Secure scheme offers an interest rate of 7.25% for a tenure of 1,102 days, while the IND Green scheme offers an interest rate of 7.45% for a tenure of 1,103 days. Both schemes are available for deposits ranging from Rs 10,000 to Rs 10 crore. The interest rates offered by these schemes are higher than the standard FD rates offered by the bank, making them attractive options for investors looking for higher returns.
The IND Secure scheme is a traditional fixed deposit scheme, where the interest is compounded quarterly. The IND Green scheme, on the other hand, is a unique scheme that offers a slightly higher interest rate, but with a condition that the interest will be compounded annually. The IND Green scheme also offers a tax benefit, as the interest earned is exempt from tax under Section 80C of the Income Tax Act.
The extension of the deadline for these schemes is a good opportunity for investors to take advantage of the higher interest rates. With the current economic scenario, investors are looking for safe and secure investment options that offer higher returns. The IND Secure and IND Green schemes offered by Indian Bank fit the bill, as they offer a higher interest rate than the standard FD rates, with the security of a government-owned bank.
Investors can deposit funds in these schemes through the bank’s online platform or by visiting any of the bank’s branches. The minimum deposit amount is Rs 10,000, and the maximum deposit amount is Rs 10 crore. The schemes are available for both new and existing customers of the bank. Overall, the extension of the deadline for the IND Secure and IND Green schemes is a good opportunity for investors to earn higher returns on their deposits, and they should consider investing in these schemes before the deadline of June 30, 2023.
Indian Bank prolongs deadline for IND Secure and IND Green special fixed deposit investments, offering up to 7.45% interest rate – The Economic Times
Indian Bank has extended the deadline for its special fixed deposit (FD) schemes, IND Secure and IND Green, which offer interest rates of up to 7.45%. The bank had initially launched these schemes with a deadline of September 30, 2024, but has now extended it to December 31, 2024. This move is expected to provide customers with more time to invest in these high-yield FDs.
The IND Secure scheme offers an interest rate of 7.45% per annum for a tenure of 1000 days, while the IND Green scheme offers an interest rate of 7.40% per annum for a tenure of 999 days. Both schemes are designed to provide customers with a safe and secure investment option, with the added benefit of higher interest rates compared to regular FDs.
The extension of the deadline is likely to be beneficial for customers who are looking to invest in FDs with higher interest rates. With the current economic scenario, customers are looking for safe and secure investment options that can provide them with better returns. The IND Secure and IND Green schemes offer just that, with their high interest rates and flexible tenures.
Indian Bank has also announced that it will offer an additional 0.10% interest rate for senior citizens who invest in these schemes. This means that senior citizens can earn up to 7.55% per annum on their FD investments. The bank has also stated that it will offer a loan facility of up to 90% of the principal amount for customers who invest in these schemes.
The extension of the deadline for the IND Secure and IND Green schemes is a positive move by Indian Bank, as it provides customers with more time to invest in these high-yield FDs. With the current interest rate scenario, customers are advised to invest in these schemes to earn better returns on their investments. However, customers should carefully review the terms and conditions of the schemes before investing, to ensure that they meet their investment goals and risk tolerance.
Overall, the extension of the deadline for the IND Secure and IND Green schemes is a welcome move by Indian Bank, and is expected to benefit customers who are looking to invest in high-yield FDs. With their high interest rates and flexible tenures, these schemes are likely to attract a large number of customers who are looking for safe and secure investment options.
India’s banking sector saw a significant surge, with loans increasing by 23.7 percent over a two-week period ending July 20, according to a report by Reuters.
According to a report by Reuters, Indian bank loans have seen a significant increase of 23.7% in just two weeks, up to July 20. This surge in lending activity is a positive indication for the Indian economy, suggesting a potential pickup in economic growth.
The data, which was released by the Reserve Bank of India (RBI), showed that outstanding loans from commercial banks rose to 133.44 trillion rupees ($1.73 trillion) as of July 20, compared to 107.83 trillion rupees ($1.40 trillion) in the corresponding period last year. This represents a substantial increase of 23.7% year-on-year.
The growth in loans was driven by a combination of factors, including increased demand from consumers and businesses, as well as the RBI’s efforts to boost lending through monetary policy measures. The central bank has been taking steps to stimulate economic growth, including cutting interest rates and providing liquidity to the banking system.
The surge in lending activity is a welcome sign for the Indian economy, which has been facing challenges in recent times. The country’s economic growth had slowed down in the previous fiscal year, and there were concerns about the impact of the COVID-19 pandemic on the economy. However, the latest data suggests that the economy may be starting to recover, driven by increased lending and spending.
The growth in loans was seen across various sectors, including personal loans, home loans, and loans to small and medium-sized enterprises (SMEs). This suggests that consumers and businesses are becoming more confident about the economic outlook and are taking on more debt to finance their activities.
Overall, the 23.7% growth in Indian bank loans in two weeks to July 20 is a positive development for the Indian economy. It suggests that the economy may be starting to recover, driven by increased lending and spending. However, it is important to note that the sustainability of this growth will depend on various factors, including the ongoing impact of the pandemic and the government’s policy responses.
The Indian Bank Assets Fair for the year 2025 has come to a close
The Indian Bank Assets Fair 2025 was held in Hyderabad, specifically at Jaya Gardens in Somajiguda, over a period of two days. The event came to a close on Sunday, with Field General Manager Praneesh Kumar in attendance. The primary objective of the fair was to provide potential buyers with detailed information about the assets available for sale, including the step-by-step process involved in purchasing these properties.
Indian Bank has been organizing these Asset Fairs in various locations across the country, aiming to make affordable assets accessible to the public through a fair and transparent process. The Hyderabad fair showcased over 120 properties, giving visitors a wide range of options to choose from. The Indian Bank team was present throughout the event, interacting with visitors, addressing their queries, and providing them with the necessary information to make informed decisions.
The decision to hold these fairs underscores Indian Bank’s commitment to providing opportunities for individuals to acquire properties at reasonable prices. By doing so, the bank is not only disposing of its assets but also contributing to the growth and development of the real estate sector. The fair and transparent process ensures that all transactions are conducted in an ethical and unbiased manner, giving buyers confidence in their purchases.
The success of the Hyderabad fair is indicative of the demand for such events and the interest of the public in acquiring properties through this platform. As Indian Bank continues to organize these fairs in different parts of the country, it is expected that more people will benefit from this initiative, leading to increased activity in the real estate market.
In conclusion, the Indian Bank Assets Fair 2025 in Hyderabad was a successful event that provided a platform for buyers to access affordable assets. With over 120 properties on display and a transparent process in place, the fair catered to the needs of a wide range of buyers. As the bank continues to hold such events, it is likely to have a positive impact on the real estate sector, promoting growth and development. The event’s success is a testament to Indian Bank’s efforts to make affordable assets accessible to the public, and it is expected that future fairs will be just as successful.
IB unveils its inaugural asset fair
Indian Bank (IB) launched a two-day Asset Fair at its Zonal Office in Tirupati, which was inaugurated by Pranesh Kumar, the Field General Manager (FGM) of Hyderabad. The event aims to offer residential houses, commercial complexes, and plots that are currently under Non-Performing Assets (NPAs) through a transparent auction process at affordable prices. This initiative allows potential buyers to purchase these assets at competitive rates, providing an opportunity for individuals and businesses to acquire properties at a lower cost.
The Asset Fair is part of Indian Bank’s efforts to recover its NPAs and provide a platform for buyers to purchase properties through a fair and transparent process. The bank has put up a range of properties for auction, including residential houses, commercial complexes, and plots, which are expected to attract significant interest from potential buyers.
In addition to the Asset Fair, Indian Bank also organized a sapling plantation program at SGS Arts College in Tirupati as part of the ‘Swachhata Hi Seva – 2025’ initiative. The program aims to promote environmental protection and sustainability, and was attended by Indian Bank officials, college faculty, and students. Pranesh Kumar planted saplings, emphasizing the importance of preserving the environment and promoting greenery.
The Zonal Manager of Indian Bank, M Selvaraj, highlighted the significance of environmental protection and the need for collective efforts to preserve the natural surroundings. The sapling plantation program was attended by a large number of participants, who showed their commitment to the cause of environmental conservation.
The two-day Asset Fair and the sapling plantation program demonstrate Indian Bank’s commitment to not only recovering its NPAs but also contributing to the betterment of the community and the environment. The bank’s initiatives are expected to have a positive impact on the local economy and the environment, and are seen as a step in the right direction towards promoting sustainability and transparency. Overall, the events organized by Indian Bank in Tirupati are a testament to the bank’s efforts to make a positive difference in the community.
South Indian Bank Introduces UPI-Based GST Payment Facility
The Indian government has introduced two significant changes related to Goods and Services Tax (GST) that are expected to benefit taxpayers and policyholders. South Indian Bank has launched a UPI-based GST payment service, allowing taxpayers to pay their GST using the Unified Payments Interface (UPI). This service enables taxpayers to make secure and effortless payments from anywhere, either by scanning a QR code or inputting a Virtual Payment Address (VPA).
The bank, which is approved by the Reserve Bank of India (RBI) as an Agency Bank, was previously accepting GST payments through internet banking and at bank branches. The introduction of UPI-based payments is expected to make it easier for taxpayers to pay their GST, and the bank’s Head of Branch Banking, Biji SS, stated that UPI is the most preferred mode of payment today.
In addition to the new payment service, insurers are also working on methods to pass on the benefit of the recent GST cut on life and health insurance policies. The GST on premiums for individual life and health insurance policies has been reduced to zero, which means that insurers can no longer avail input tax credit. Insurers will need to adjust their pricing to align with the absence of input tax credit, and it is expected that the benefit of the GST cut will be passed on to consumers, although the extent of the benefit is still to be determined.
Edme Insurance Brokers Ltd. commented that the reduction of GST on premiums will likely lead to more people buying health and life insurance cover. The company’s Chief Human Resources Officer, Jonika Jain, stated that the GST cut will depend on how insurers adjust their pricing, and the entire benefit may not be passed on to consumers. However, the company is planning to expand its operations, including doubling its workforce to 1,000 in five years, and is also planning expansion in the UAE, UK, and Singapore.
Overall, these developments highlight the impact of the GST changes on businesses and consumers. The UPI facility from South Indian Bank provides easier tax payment options, while the GST reductions are expected to lead to increased demand for health and life insurance cover. As the insurance industry adjusts to the new GST rates, consumers can expect to see changes in pricing and potentially more affordable insurance options.
IBPS PO Prelims Result 2025 Expected to Release Shortly on ibps.in; Get Vacancy Details and Latest Updates Here
The Institute of Banking and Personnel Selection (IBPS) is anticipated to announce the results of the Probationary Officer (PO) preliminary exam for 2025 soon. Candidates who took the exam can check their results on the official IBPS website, ibps.in, by logging in with their registration number and date of birth. The IBPS PO recruitment for 2025 aims to fill 5,208 vacancies for the roles of Probationary Officer/Management Trainee across several major Indian banks.
To check their results, candidates can follow these steps: visit the official IBPS website, click on the link for the IBPS PO Prelims Result 2025, enter their login details, and submit. Their result will then be displayed on the screen, and they can download their scorecard and print a copy for their records.
The preliminary PO exams were conducted on August 17, 23, and 24, 2025. Candidates who pass this initial test will be eligible to sit for the Mains exam, which is scheduled for October 12, 2025. The bank-wise vacancy breakdown is not fully available, as some banks, including Indian Bank, UCO Bank, and Union Bank of India, have not reported their vacancy numbers.
The IBPS PO recruitment is a significant opportunity for candidates to join major Indian banks as Probationary Officers/Management Trainees. With 5,208 vacancies available, this recruitment drive is highly competitive, and candidates who have passed the preliminary exam will need to perform well in the Mains exam to secure a position.
It is essential for candidates to keep an eye on the official IBPS website for updates on the result announcement and to follow the instructions carefully to check their results. By doing so, they can determine their qualifying status and proceed to the next stage of the recruitment process if they are successful. The IBPS PO recruitment for 2025 is a crucial step for candidates seeking a career in the banking sector, and the announcement of the preliminary exam results is a significant milestone in this process.
Indian Bank’s Q2 net profit surges 36% to reach Rs 2,707 crore
Indian Bank has reported a 36% increase in its net profit for the second quarter of the current fiscal year, with a profit of Rs 2,707 crore. This significant rise in profit can be attributed to the bank’s improved net interest income and a reduction in provisioning for bad loans.
The bank’s net interest income, which is the difference between the interest earned on loans and the interest paid on deposits, increased by 35% to Rs 4,664 crore. This growth was driven by a 17% increase in advances and a 13% increase in deposits. The bank’s net interest margin, which is a measure of its profitability, improved to 3.59% from 3.32% in the same quarter last year.
Indian Bank’s provisions for bad loans decreased by 24% to Rs 1,044 crore, which also contributed to the increase in its net profit. The bank’s gross non-performing assets (NPAs) decreased to 6.52% of its total advances, from 7.23% in the same quarter last year. The bank’s net NPAs also decreased to 2.01% from 2.55% in the same quarter last year.
The bank’s operating profit increased by 27% to Rs 3,421 crore, driven by a 35% increase in its net interest income and a 17% increase in its non-interest income. The bank’s non-interest income, which includes fees and commissions, increased to Rs 1,757 crore from Rs 1,501 crore in the same quarter last year.
Indian Bank’s capital adequacy ratio (CAR) improved to 15.59% from 14.51% in the same quarter last year, which is well above the regulatory requirement of 10.875%. The bank’s return on assets (ROA) improved to 1.34% from 1.03% in the same quarter last year, while its return on equity (ROE) improved to 15.69% from 12.53% in the same quarter last year.
Overall, Indian Bank’s financial performance for the second quarter of the current fiscal year has been impressive, with significant increases in its net profit, net interest income, and operating profit. The bank’s reduction in provisioning for bad loans and improvement in its asset quality have also contributed to its improved financial performance.
SriLankan Airlines Partners with Axis Bank to Offer Exclusive Travel Services
SriLankan Airlines and Axis Bank have announced a historic travel alliance aimed at enriching international travel experiences for Indian customers. This partnership, a first of its kind, will provide Axis Bank’s 15 million cardholders with exclusive benefits, including low fares and additional travel perks. The alliance will offer a 10 percent discount on Business and Economy Class fares booked online from SriLankan Airlines’ website for travel from India to Colombo and beyond to destinations in the Middle East, Far East, Maldives, and Europe.
Cardholders will also receive an additional 5kg baggage allowance on flights to Melbourne. According to Richard Nuttall, CEO of SriLankan Airlines, this alliance is not just about savings, but about changing the way Indians travel. The partnership aims to boost travel between India and Sri Lanka, with 88 weekly flights connecting nine Indian cities to Colombo and beyond.
Sanjeev Moghe, Axis Bank President & Head – Cards & Payments, expressed his enthusiasm for the partnership, stating that it will make travel more convenient while increasing cultural and economic exchange between India and Sri Lanka. As the first private Indian bank to introduce such a program with SriLankan Airlines, Axis Bank is opening doors to global travel for its customers.
The move is seen as a strategic attempt to stimulate post-pandemic travel demand and fuel tourism development in Sri Lanka. Analysts believe that this tie-up sets a precedent for further airline-bank integrations in South Asia, involving convenience, cost savings, and strategic economic alignment. With SriLankan Airlines doubling its bet on India as a core market, the partnership is expected to have a significant impact on the travel industry in the region.
The key highlights of the partnership include exclusive discounts, additional baggage allowance, and increased global access for Axis Bank cardholders. The alliance is a significant development in the travel industry, and its impact will be closely watched in the coming months. As the travel industry continues to recover from the pandemic, such partnerships are likely to play a crucial role in shaping the future of travel in the region.
The government strives to propel two public sector banks into the ranks of the world’s top 20 global financial institutions.
The Indian government has set an ambitious target to have at least two public sector banks (PSBs) feature in the list of the world’s top 20 banks by 2047, when the country aims to achieve “Developed Nation” status. Currently, State Bank of India is the only Indian bank in the top 50 banks globally in terms of asset size. This goal was discussed at a recent “Manthan” event for PSBs, where officials and industry leaders agreed that to reach the top 20, PSBs need to expand their scale, strengthen governance, adopt digital banking and artificial intelligence, and build a stronger global footprint.
The government has indicated that consolidation is not part of the roadmap, marking a shift from the merger-driven approach seen in earlier phases of banking reforms. There are currently 12 PSBs, down from 27 in 2017, following a series of mergers. The government has instead urged banks to focus on improving their current account and savings account (CASA) deposits, which have been declining over the past year, putting pressure on their net interest margins.
The largest lender, SBI, saw a marginal decline in its CASA ratio in the June quarter, while Bank of Baroda’s CASA ratio also fell. Improving CASA deposits will also help banks in their lending to key sectors of the economy, such as agriculture and micro, small, and medium enterprises (MSMEs). The Ministry has asked banks to increase their lending to these sectors, which are critical to the Indian economy. The agriculture sector, in particular, is a vital contributor to national income and employment, with nearly 46.1% of the population engaged in agriculture and allied activities.
The government has made significant progress in increasing institutional credit disbursement to farmers, with the Kisan Credit Card (KCC) scheme seeing a significant increase in disbursements from ₹4.26 lakh crore in 2014 to ₹10.05 lakh crore by December 2024. Overall agricultural credit flow has also risen from ₹7.3 lakh crore in FY13-14 to ₹25.49 lakh crore in FY23-24. The government’s emphasis on lending to MSMEs and the agriculture sector is expected to continue, with a focus on promoting economic growth and job creation. While there is no specific timeline for achieving the goal of having two PSBs in the top 20, the government is committed to working towards this target by 2047.
Axis Bank India and SriLankan Airlines have partnered to provide their customers with special discounted airfare rates.
SriLankan Airlines has announced a strategic partnership with Axis Bank, one of India’s largest private sector banks, to offer exclusive benefits to the bank’s 15 million customers. This partnership marks a new chapter for SriLankan Airlines in its efforts to provide seamless and affordable travel experiences to Indian travelers. As part of the collaboration, Axis Bank credit and debit cardholders will enjoy a 10% discount on Business Class and Economy Class fares when booking through the SriLankan Airlines website.
The discount applies to all SriLankan Airlines flights from India to Colombo and onward to destinations in the Far East, Middle East, Maldives, Frankfurt, and Paris. Additionally, customers traveling to Melbourne will receive an extra 5kg of checked baggage allowance. This partnership is expected to bring significant savings and value to international travel for Axis Bank customers.
According to Fawzan Fareid, Regional Manager India, Bangladesh & Nepal of SriLankan Airlines, this partnership is a first for the airline with a private Indian bank. The combined strengths of SriLankan Airlines and Axis Bank will enable them to deliver great value to their customers as the partnership grows. Arnika Dixit, President & Head – Cards, Payments and Wealth Management, Axis Bank, commented that the partnership enriches their customers’ lifestyles and journeys, offering exclusive travel benefits and premium privileges.
India is a key market for SriLankan Airlines, with nine cities featured in its network. The airline operates 88 weekly flights between India and Sri Lanka, connecting passengers to Colombo and beyond. This partnership is expected to further strengthen the airline’s presence in the Indian market and provide more attractive deals for its customers. With this partnership, SriLankan Airlines aims to foster deeper connections with Indian travelers and provide them with memorable and rewarding travel experiences.
The partnership between SriLankan Airlines and Axis Bank is a significant step in enhancing the travel experiences of Indian customers. By offering exclusive discounts and benefits, the airline aims to increase its customer base and provide more value to its existing customers. As the partnership advances, SriLankan Airlines is expected to offer even more attractive deals and greater value for money for its Indian customers.