Mcap of PSU Banks increased to Rs.21.35 Lakh crore India’s public sector banks are booming and giving tough competition to private sector banks. The combined market capitalization of India’s 12 PSU banks has increased by Rs 5.75 lakh crore to Rs 21.35 lakh crore over the last six months. The mcap of India’s largest public sector…
Big Strike in Indian Overseas Bank on 2nd March, All Branches will remain closed The United Forum of Bank Unions (UFBU) has come in support of Indian Overseas Bank Officers’ Association (IOBOA) and strike announced on 2nd March 2026. UFBU has written a letter to MD&CEO of Indian Overseas Bank and said that the acts…
Visa to acquire Prisma and Newpay in Argentina, How will it benefit Visa? Visa has announced its plan to acquire Prisma Medios de Pago S.A.U. (“Prisma”) and Newpay S.A.U. (“Newpay”) in Argentina from Advent International. Prisma provides credit, debit and prepaid card issuer processing. Newpay is a multi-network infrastructure provider that operates real-time payments services,…
Mastercard launches passkey Top debit and credit card companies in the world – Mastercard and VISA, have launched Passkeys to enhance the security of cards. Passkeys are a modern, secure way to log in to apps and websites without using passwords. Instead of typing a password, you can use biometric authentication such as your fingerprint,…
No Need of UPI PIN: PhonePe launches UPI payments via Biometric PhonePe today has launched a new initiative. PhonePe users can do UPI payments via biometric authentication. This new feature allows users to authorize transactions using their smartphone’s native security, such as fingerprint or facial recognition, eliminating the need to manually enter a UPI PIN…
The US Federal Reserve has permitted Fulton Financial Corporation, based in Lancaster, Pennsylvania, to acquire Blue Foundry Bancorp, a bank holding company located in Rutherford, New Jersey. Earlier, the US Federal Reserve System approved a major banking merger involving Fifth Third Bancorp and Comerica Incorporated. The US Federal Reserve also approved the merger of Prosperity…
The Calcutta High Court dismissed an intra-court appeal filed by Bank of Baroda – a public sector bank against a dismissed workman. The dispute arose from the recovery of bank property — including rubber stamps, blank passbooks, and letterheads — from the workman’s residence following a police raid. The Bank removed him from service on…
Indian Overseas Bank Officers’ Association (IOBOA) has announced a strike on 2nd March 2026. This fight is for the dignity and work-life balance of the officers’ community. The association had announced a strike against the toxic work culture prevailing in Banks. In return, the management attacked the dignity of the association. Some of the prevailing…
The Kerala High Court has ruled that a bank is entitled to exercise its right of lien over a guarantor’s salary account. It clarified that protection under Section 60(1)(i) CPC does not restrict the bank’s substantive right. The case arose when Agi Kumar’s daughter, proprietor of a manufacturing unit, availed a loan from Canara Bank under the Prime Minister’s Employment…
The Kerala High Court has ruled that courts cannot force banks or Non-Banking Financial Companies to regularise loan accounts classified as Non-Performing Assets. Such directions cannot be issued once proceedings under the SARFAESI Act have been initiated, especially regarding the specific stand taken by NBFC. The case arose from a loan of Rs.1.69 Crore availed…