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Public sector banks rush to build up wealth management assets

The move is aimed at improving customer engagement as household savings shift from bank deposits to market-linked instruments and risk products. Indian Bank plans to set up a wealth management vertical targeting high net worth individuals, while sectoral leader State Bank of India aims to grow its wealth assets under management fivefold to Rs 15 lakh crore by 2030. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uIP9wEn via IFTTT
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Punjab & Sind Bank aims to cross total business milestone of Rs 3 lakh cr in FY27

Punjab & Sind Bank is targeting a significant milestone of Rs 3 lakh crore in total business by the end of the current financial year. This ambitious goal is driven by expected loan growth and deposit expansion. To fuel this expansion, the bank plans to raise substantial funds through equity and debt issuances. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/H1UBkvS via IFTTT
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Axis Bank opens its first digital locker-focussed branch

Axis Bank has opened its first digital locker branch in New Delhi. This new facility aims to provide advanced security and customer experience through automated locker services. The bank is responding to a growing demand for safe deposit lockers, especially in urban areas. Industry estimates predict a significant increase in locker requirements by 2030. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UVEPoZh via IFTTT
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SBI promotes 8 CGMs as DMDs in annual reshuffle

State Bank of India has elevated eight Chief General Managers to Deputy Managing Director positions. These promotions align with the bank's annual cycle. New DMDs are being assigned departments as existing officials retire. Several retirements are scheduled between June and September. This strategic move ensures continuity in leadership across key banking functions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jqkAbcI via IFTTT
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Fino eyes asset-light, tech-led small finance bank

Fino Payments Bank is moving forward with its plan to become a small finance bank. The bank will focus on technology and secured lending, avoiding a traditional branch model. This transition is on track despite ongoing leadership reviews. Fino aims to offer home loans, gold loans, and business loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kZw7Gbq via IFTTT
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UCO Bank sees no MSME stress from US tariffs, Iran war

The public sector bank's chief executive, Ashwani Kumar, told ET that its loan portfolio performance behaviour is healthy on a year-on-year basis. The bank's special mention accounts in the MSME portfolio having exposure of ₹1 crore and above reduced to 1.05% of the MSME loan book in March, at ₹487 crore, as against ₹582 crore in December 2025, he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/V7d2BF9 via IFTTT
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RBI clears Subrat Mohanty’s reappointment as Axis Bank Executive Director for three years

Axis Bank announced a significant development today. The Reserve Bank of India has given its approval for Subrat Mohanty's reappointment. He will continue to serve as Executive Director for another three-year term. This new tenure is set to begin on August 17, 2026. Mohanty's extended role will conclude on August 16, 2029. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3fcyZ2z via IFTTT
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