Banking

India’s public sector banks are preparing to significantly increase technology investments to counter emerging cybersecurity risks linked to advanced artificial intelligence tools such as Claude Mythos AI. Concerns over the tool’s ability to identify and exploit system vulnerabilities have prompted banks to reassess digital defenses. Punjab & Sind Bank CEO Swarup Kumar Saha confirmed plans to boost IT spending to safeguard customer data and financial systems.

The Government of India has appointed Rohit Jain as Deputy Governor of the Reserve Bank of India for a three-year term, marking a key leadership transition in the country’s central banking system. Jain succeeds T Rabi Sankar, whose extended tenure concluded recently. The appointment, cleared by the Appointments Committee of the Cabinet, comes at a critical time for monetary policy and financial regulation. The move is expected to ensure continuity in policy direction while reinforcing institutional stability amid evolving economic conditions.

Axis Bank has launched a technologically advanced branch aimed at transforming secure banking services through automation and enhanced customer experience. The initiative underscores the bank’s strategic focus on innovation, particularly in high-security offerings such as locker facilities. The branch was inaugurated by M Nagaraju, Financial Services Secretary, in the presence of Managing Director Amitabh Chaudhry and Executive Director Munish Sharda.

Indian Bank reported a stable financial performance for the fourth quarter of FY26, with net profit rising 5 percent to Rs 3,103 crore, supported by a decline in bad loans and improved core income. Total income increased to Rs 19,980 crore, while interest income and net interest income (NII) registered healthy growth. The results underscore the bank’s strengthening asset quality and operational resilience.

Punjab & Sind Bank is preparing to raise up to Rs. 3,000 crore through a share sale, primarily via a Qualified Institutional Placement (QIP), as part of efforts to comply with minimum public shareholding norms set by the Securities and Exchange Board of India (SEBI). The bank aims to reduce government stakeholding and increase public participation in its equity structure. Currently, the Government of India holds a dominant 93.85 per cent stake in the lender.

AU Small Finance Bank delivered a strong financial performance in the fourth quarter, driven by solid growth in net interest income and improved margins. The bank reported a notable rise in total income alongside expansion in net interest margin, signaling enhanced operational efficiency and lending strength. Despite a higher base in the previous year, quarterly profit remained resilient, while full-year earnings registered a significant increase.

Punjab & Sind Bank reported a year-on-year decline in net profit for the latest financial period, reflecting pressure on core income streams despite notable improvements in asset quality. The lender’s total and interest income both registered a contraction, signaling a challenging operating environment for public sector banks. However, the bank made meaningful progress in reducing bad loans, with both gross and net non-performing assets showing a steady decline.

Axis Bank reported a marginal decline in standalone net profit for the March quarter, reflecting pressure on margins despite steady loan growth. Net profit slipped to Rs. 7,071.31 crore from Rs. 7,117.50 crore a year earlier. While core net interest income rose 5 percent to Rs. 14,457 crore, supported by a 19 percent increase in advances, a 0.35 percent contraction in net interest margin to 3.62 percent weighed on profitability. Non-interest income declined 11 percent year-on-year, while the bank set aside Rs.

Axis Bank reported a marginal rise in consolidated net profit for the March quarter, reflecting a cautious financial stance amid global uncertainties. Earnings were weighed down by a significant Rs 2,001 crore provision linked to potential risks arising from the West Asia conflict. While the bank recorded steady growth in advances and a moderate increase in net interest income, pressure on margins and a decline in non-interest income limited overall profitability.

UCO Bank reported a robust 23 percent year-on-year rise in net profit for the fourth quarter ended March 31, highlighting improved operational efficiency and stronger interest earnings. The bank posted a net profit of Rs 801 crore, even as its total income declined compared to the same period last year. Growth in interest income helped offset broader revenue pressures, indicating a more focused lending strategy.