Bank Management is not serious about resolving issues, says Chief Labour Commissioner

Under the direction of the Chief Labour Commissioner (CLC) of the Ministry of Labour & Employment, a conciliation meeting was conducted today (April 29, 2025) to settle ongoing conflicts between management and public sector bank unions. The purpose of the meeting was to ensure good labor relations and to address a number of important requests. All participants were greeted by the CLC, which also urged them to collaborate and seek a peaceful resolution.

Concern Over Lack of Commitment by Bank Managements

The CLC expressed disappointment that many bank managements are not taking the conciliation meetings seriously. Despite repeated advice, some banks are not sending senior officials who can make decisions. This attitude not only disrespects the authority of the CLC but also delays the process of finding a fair solution.

All banks have again been advised to depute senior officers who can actively participate and help reach settlements.

Conclusion and Next Meeting

The CLC urged all stakeholders to continue discussions at the bipartite level (between unions and management) and try to solve issues amicably. The next conciliation meeting is scheduled for June 17, 2025, at 11:30 AM.

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UCO Bank Q4 Net profit jumps 24% YoY, Declare 39 paise dividend for FY25

With significant increase in business, profitability, and asset quality, UCO Bank has released a good set of financial results for the quarter and year that concluded on March 31, 2025. As of March 31, 2025, the bank's overall business rose 14.12% year over year to ₹5,13,527 crore. Gross advances increased 17.72% year over year to ₹2,19,985 crore, while total deposits increased 11.56% year over year to ₹2,93,542 crore. 

 Regarding profitability, UCO Bank recorded a net profit of ₹652 crore for the fourth quarter of FY2024–25, which is a noteworthy YoY growth of 23.98% over the ₹526 crore in the same time the previous year. The quarter's operating profit was ₹1,699 crore, up 33.48% year over year from ₹1,273 crore in Q4 of FY2023-24.

The bank also announced a dividend of 3.90% for FY2024-25, which equates to ₹0.39 per equity share.

The RAM (Retail, Agriculture, and MSME) sector performed well, growing by 25.74% year over year to reach ₹1,22,613 crore. In particular, robust demand for home loans and auto loans, which saw growths of 18.13% and 58.99%, respectively, supported retail advances, which increased by 35.09% YoY to ₹54,255 crore. 

 While MSME advances increased by 18.55% YoY, agriculture advances increased by 20.02% YoY. The bank stated that both the gross and net non-performing asset ratios had improved in terms of asset quality. As of March 31, 2025, net NPA improved to 0.50%, a decrease of 39 basis points YoY, while gross NPA was at 2.69%, a decrease of 77 basis points YoY. 96.69% was the Provision Coverage Ratio.

Regarding the bank's network, as of March 31, 2025, UCO Bank had a total of 3,302 domestic branches and two overseas branches in Hong Kong and Singapore, along with a representative office in Iran. 61% of the bank’s branches are in rural and semi-urban areas. Additionally, the bank operates 2,522 ATMs and 10,653 business correspondent points, totaling 16,480 touchpoints.

For the full fiscal year, UCO Bank reported a net profit of ₹2,445 crore, reflecting a 47.80% YoY increase from ₹1,654 crore in FY2023-24. Net Interest Income (NII) also showed strong growth, rising by 23.35% YoY to ₹2,698 crore for Q4 and 18.88% YoY to ₹9,630 crore for the full year.

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Central Bank of India Q4 Profit rises 28%

Central Bank of India reported a 28% year-on-year rise in net profit for the March quarter, coming in at ₹1,033.6 crore compared to ₹807.3 crore a year earlier.

Net interest income (NII) fell 4% year-on-year to ₹3,399 crore from ₹3,541 crore. However, total income, including interest and non-interest income, improved by 7.57% to ₹10,433 crore from ₹9,699 crore in the same period last year.

The lender’s asset quality strengthened notably. Gross non-performing assets (GNPAs) declined to 3.18% from 3.86% in the previous quarter, while net non-performing assets (NNPAs) improved to 0.55% from 0.59% sequentially.

Return on assets (ROA) improved to 0.90% for Q4FY25 compared to 0.76% a year ago, while return on equity (ROE) rose to 13.21% from 11.68% during the same period.

The bank continues to maintain a strong nationwide footprint with 20,915 touchpoints, including 4,545 branches—of which nearly 65% are located in rural and semi-urban areas—as well as 4,085 ATMs and 12,260 banking correspondent points.

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IDBI Bank Q4 Net Profit Up 26%

On Monday, IDBI Bank announced its financial results for the quarter and year ended March 31, 2025. The bank's Q4 2025 net profit increased by 26% to Rs 2,051 crore from Q4 2024's net profit of Rs 1,628 crore. In Q4 2025, IDBI Bank reported net interest income of Rs 3,290 crore, up from Rs 3,688 crore in Q4 2024. The bank's Return on Assets (ROA) climbed from 1.82% in Q4 2024 to 2.11% in Q4 2025, a 29 basis point rise. The cost of funds for IDBI Bank was 4.97% in Q4 2025 as opposed to 4.74% in Q4 2024, and the cost of deposits was 4.83% in Q4 2025 as opposed to 4.48% in Q4 2024.

According to IDBI Bank's FY25 report, its operating profit increased by 16% year over year to Rs 11,079 crore, while its net profit hit an all-time high of Rs 7,515 crore, with YoY growth of 33%. The bank's overall revenue in FY25 exceeded Rs 5 trillion. With a YoY gain of 33 basis points, Return on Equity (ROE) was at 20.15%, and Return on Assets (ROA) was at 1.98%.

While CASA climbed to Rs 1,44,479 crore and the CASA ratio was 46.56% as of March 31, 2025, IDBI Bank said that its total deposits had grown to Rs 3,10,294 crore as of March 31, 2025, from Rs 2,77,657 crore on March 31, 2024. The overall CASA and CASA ratio were at Rs 1,40,027 crore and 50.43%, respectively, as of March 31, 2024.

According to IDBI Bank, net advances climbed by 16% YoY to Rs 2,18,399 crore as of March 31, 2025, from Rs 1,88,621 as of the same period in 2024. The bank's net non-performing asset (NPA) ratio surged to 0.15% from 0.34% on March 31, 2024, while its gross non-performing asset (NPA) ratio improved to 2.98% from 4.53% on March 31, 2025. These improvements indicate a sound asset base. As of March 31, 2025, the bank's Provision Coverage Ratio (including Technical Write-Offs) increased from 99.09% on March 31, 2024, to 99.48%.

"We would like to inform that the Board of Directors have recommended a Dividend of Rs. 2.10 per Equity Share of face value of Rs. 10/- each of the Bank for the financial year ended March 31, 2025. The dividend on equity shares, will be paid/dispatched on or after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank," said IDBI Bank in a stock exchange filing.

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Branch Manager Suspended for raising voice against Leave Denial

At Punjab National Bank in New Delhi, a startling instance has surfaced. According to accounts, a branch manager was suspended for speaking out against the higher authority's decision to deny leave. 

The branch manager has submitted one day leave which was declined by the higher authority. The branch manager put this on his WhatsApp status – he wrote “Single Day Casual Leave is denied by Competent Authority. Why this kolaveri di?”

 To his astonishment, however, the bank administration promptly sent him an explanation letter. The branch manager allegedly broke the bank's social media policy, according to the management. According to the letter, bank workers should refrain from criticizing the bank's management and from participating in any social media groups that do so. The branch manager has five days to provide an explanation.

The branch manager responded that since the content was not offensive or defamatory and didn't include any private information, he hadn't broken the bank's social media policy. It was merely a private statement of concern about issues pertaining to corporate openness and employee welfare. He asserted that every Indian citizen has the inherent right to constructive criticism and peaceful expression.The branch manager has now being suspended and the case is going on.

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IDFC FIRST Bank net profit decline 58% YoY

IDFC First Bank recorded a net profit for Q4 FY25 of Rs 304 crore, which was 58 percent less than the Rs 724 crore profit for Q4 FY24. The microfinance portfolio's increased provisions associated with stress were the main cause of the decline in profitability. Net profit for the entire fiscal year FY25 was Rs 1,525 crore, a 48.4% decrease from the previous year.

Retail deposits increased by 26.4 percent to Rs 1,91,268 crore, while customer deposits gained a strong 25.2 percent to Rs 2,42,543 crore. At Rs 1,18,237 crore, CASA deposits also showed a robust 24.8 percent year-over-year rise. At 46.9 percent, the CASA ratio held steady and was just slightly lower than 47.2 percent a year earlier.

At Rs 2,41,926 crore, the bank's total loans and advances increased by 20.4% year over year. While the microfinance portfolio shrank by 28.3%, retail, rural, and MSME loans increased 18.6% to Rs 1,97,568 crore.

 

In Q4 of FY25, Net Interest Income (NII) increased 9.8% year over year to Rs 4,907 crore. NII grew 17.3% year over year for the entire year. Due in significant part to the microfinance industry's collapse, the Net Interest Margin (NIM) on AUM decreased 9 basis points sequentially to 5.95 percent in Q4 FY25. The NIM for the entire year was 6.09 percent.

In Q4 of FY25, Fee and Other Income increased by 5.7% year over year to Rs 1,702 crore. The growth in Fee and Other Income for FY25 was 15.2 percent. In Q4, operating expenses increased by 12.2 percent to Rs 4,991 crore, while core operating income increased by 8.7 percent to Rs 6,609 crore. During the quarter, core operating profit was Rs 1,618 crore; for the entire year, it increased 17.2 percent to Rs 7,069 crore. 

Despite sectoral constraints, asset quality metrics stayed consistent. Net non-performing assets (NPA) climbed by 1 basis point to 0.53 percent, while gross non-performing assets (GNPA) improved by 7 basis points sequentially to 1.87 percent. With the microfinance portfolio excluded, the retail, rural, and MSME book's gross non-performing assets (NPA) increased to 1.40%.

At 72.3%, the Provision Coverage Ratio (PCR) was in good health.  For FY25, the total provisions were Rs 5,515 crore, or 2.46 percent of the loan book.  The adjusted credit cost for the year, excluding microfinance and one toll account, was 1.76 percent; in Q4, it improved 9 basis points from the previous quarter to 1.73 percent. In Q4 of FY25, the bank's gross slippages were Rs 2,175 crore, somewhat less than the Rs 2,192 crore in Q3.

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PSU Bank introduce new app for their Employees, is this app to track staff?

Another problem surrounds Punjab National Bank, one of India's biggest public sector banks. A new debate has emerged following the conclusion of the new transfer policy problem. 

Punjab National Bank has unveiled two new features for its staff: the PNB Aagman app for tracking attendance and a feedback system based on QR codes. The PNB Aagman app will be discussed in this post. 

This new software was released by PNB to track employees' locations and record their attendance. This implies that an employee can only record their attendance if they are present at their workplace. The app user will need to provide the app with their location in order to accomplish this. There are versions of the mobile app for iOS and Android.

PNB employees can download the app and mark attendance via this app. Everything seems to be super cool and hi-tech but the employees are not happy with it. Employees and Bank Associations have taken to social media to express their anger and grief regarding the app.

Users are protesting that the software infringes their privacy, as you can see from the tweets above. We Bankers Association claims that Punjab National Bank already uses a desktop biometric attendance marking system, so why is the bank using an app for attendance? The bank has been accused by the Association of live-tracking its workers. Workers are concerned that the software could be used to spy on them. 

The Bank Officers' Association has expressed grave worries regarding two new PNB-introduced systems: the customer feedback technique based on QR codes and the AAGMAN App for recording attendance. According to the group, these new methods cause needless stress at work and invade officers' privacy.

The app is location-based, which means it tracks where the officer is. It also seeks access to officers’ personal data, such as their contact list, phone calls, and other private information. The association pointed out that biometric attendance is already in place in the bank, which serves the same purpose. Therefore, introducing another system for attendance seems unnecessary and looks like an attempt to control the private lives of officers.

Users complain various issues with the app

1. The mobile app is not available on the Google Play Store, which is the official app store for Android. When an app is uploaded on the Google Play Store, Google checks the app and the app goes live only if it as per Google’s policies. In this case, the PNB Aagman app is not available on the Google Play Store means there might be some issue with the app.

2. The app does not seem to be working properly. When users downloaded the app for testing, the app kept on showing the message – Loading, and finally, the app crashed. This means the app has some developmental issues.

3. The app asks for various permissions, such as permissions to access phone calls, which completely violates the privacy of users. Such permissions are not needed for an attendance app. These permissions are needed to manage phone calls and contacts. Recently, Google and the Government of India have asked Citizens not to provide any permission that is irrelevant to the working of any app. This means that a camera app should not ask for phone permission, a calendar app should not ask for camera permission, and so on. So in this case, an attendance app should not ask for phone call permissions. The app is based on marking biometric via location tracking and so it should ask for location permissions only.

4. Users say that the bank has already implemented biometric attendance in desktops and the system is working flawlessly. When one system of attendance marking is working properly then why bank is spending money on mobile apps? Instead, this money should be utilised in the betterment of the existing system. The development and maintenance of mobile apps require a lot of funds and these could have been used to make the existing biometric system better.

Meanwhile, PNB Management is working hard to revamp the bank and improve customer service. What happens next – let’s see – whether the app will be implemented or not. What are your thoughts? Tell us in the comment section below.

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Bank Manager and Clerk Arrested in Rs.23 Lakh Fraud Case

 

A branch manager and a clerk from Indian Bank's Santhome branch in Chennai have been taken into custody by the Central Crime Branch's Bank Fraud Investigation Wing on suspicion of being involved in a significant fund theft case.

The police claim that Sathya Narayana, the regional manager of Indian Bank, lodged the complaint that led to the arrests. He accused P. Jayasingh, a clerk at the Santhome branch, and Sundar Mohan Maji, the branch manager, of grave financial malfeasance in his complaint to the City Police Commissioner.

Misuse of Customer Accounts

The complaint claims that by fraudulently taking money out of customer accounts, the two bank employees abused their positions. They allegedly obtained dormant accounts those that had not been used for a long period of time and falsified customer signatures to siphon off funds without the account holders’ knowledge.

Loans Taken Without Customers’ Knowledge

The officials also allegedly took out loans in the names of unsuspecting customers. These loans were then settled by pledging jewellery, possibly stolen or fraudulently acquired. In one instance, they are accused of swindling 146.5 grams of gold jewellery from a customer. The total loss caused by their fraudulent activities has been estimated at Rs.23 lakh, as per the bank’s internal findings.

Arrest and Legal Action

The Central Crime Branch investigated the case and arrested both Sundar Mohan Maji and P. Jayasingh. They were presented before the court and have been remanded to judicial custody as the investigation continues.

This case has raised serious concerns over internal monitoring and customer account security at banking institutions. Authorities have assured that strict action will be taken and all efforts are being made to recover the defrauded amount.

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Rs 10 crore fraud in Bank of India(BOI), Senior Bank Officer Sent to Jail

Three people were sentenced to five years in prison by a special Central Bureau of Investigation (CBI) court for defrauding Bank of India out of Rs.10.27 crore in a significant decision. In the case, which began in April 2012, a businessman, a senior bank official, and an intermediary forged paperwork in order to obtain credit from the bank without authorization.

The court also imposed severe financial penalties in addition to the jail sentence. The middleman received a fine of Rs.30 lakh, the banker Rs.15 lakh, and the businessman Rs.8 crore.

Case Registered in 2013 by CBI

The CBI’s Economic Offences Wing registered the case on February 2, 2013. Those named in the case included:

• Nikhil Patt, a businessman
• Damodar Kamath, then senior manager (credit) at Vijaya Bank
• Sooraj Tayade, an agent
• Four other accused, including two who are still absconding, one who passed away during the trial, and one who was acquitted due to lack of evidence.

How the Bank Fraud Happened

The complaint came from the Deputy Zonal Manager of Bank of India’s Mumbai North Zone. According to the investigation, the fraud was carried out using fake Letters of Credit (LCs) – financial instruments banks use to guarantee a buyer’s payment to a seller.

Kamath, the bank manager, issued four such fake LCs worth a total of Rs.10.27 crore. Here’s how the LCs were misused:

• Two LCs worth Rs.7.25 crore were issued in the name of Madhav Trading Corporation, a company owned by Nikhil Patt.
• One LC was issued to Siddhi Graphics, owned by Sameer Shah.
• The fourth LC was in the name of Parmar Trading Corporation, owned by Chandrakant Desai.

Shah and Desai are still on the run.

Misuse of Funds

Once the fake LCs were processed, a Bank of India officer named T. Gopala verified and cleared them. The money was then credited to the accounts of the three companies involved.

However, the money was not used for any business purpose. Instead, it was transferred across different accounts and withdrawn in large amounts by the accused.

The investigation revealed that out of the Rs.10.27 crore:

• Rs.1.02 crore was transferred from Madhav Trading Corporation to Suraj Kumar Trading, a company owned by Sooraj Tayade.
• Another Rs.15 lakh was directly transferred to bank manager Kamath, suggesting his active role in the fraud.

This case is a serious example of how banking frauds can affect public financial institutions. The court’s decision sends a clear message: those who misuse their position and cheat the banking system for personal profit will face strict legal consequences.

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Axis Bank Q4 Net profit marginally declines

Axis Bank on April 24 reported a standalone net profit of Rs 7,118 crore in Q4FY25, marginally lower than Rs 7,130 crore in the corresponding quarter last year. However, the private lender beat estimates due to higher core lending income.The Mumbai-based lender's total income rose 6 percent to Rs 38,022 crore in Q4FY25 as against Rs 35,990 crore in Q4FY24.

According to Moneycontrol's poll, Axis Bank’s profit-after-tax (PAT) was pegged 6% year-on-year lower at Rs 6,710 crore.The lender declared dividend of Re 1 for the year ended March 31, 2025.

The private lender’s standalone interest earned rose 6.9 percent year‑on‑year to Rs 31,242.51 crore in Q4 FY25, up from Rs 29,224.54 crore in Q4 FY24, driven by a 5.3 percent growth in interest on advances to Rs 24,579.59 crore and a 14.1 percent jump in investment income to Rs 6,095 crore.

Consolidated interest earned climbed 7.4 percent to Rs 32,452.32, with advances income up to Rs 25,709.Standalone total income (net interest income plus other income) grew 5.7 percent to Rs 38,022.03, aided by a 0.2 percent uptick in other income to Rs 6,779.52.

Operating expenses rose more modestly with standalone operating expenses increased 5.6 percent to Rs 9,837.69 crore, while consolidated operating expenses increased 4.6 percent to Rs 10,392.28 crore.

Consequently, standalone operating profit (before provisions) edged up 2 percent to Rs 10,752.37 crore, and consolidated operating profit rose 2.1 percent to Rs 11,445.05 crore.Net interest income - the difference between interest earned on loans and paid on deposits - rose 5.5% to Rs 13,811 crore.

Provisions and contingencies, or funds kept aside for potential bad loans, rose 14% year-on-year to Rs 1,359 crore, but fell 37% from a quarter ago.Gross non‑performing assets (NPAs) fell to 1.28 percent of advances from 1.43 percent a year earlier; net NPAs were down to 0.33 percent from 0.35 percent.

Consolidated net provisions similarly eased to Rs 1,550.28 crore from Rs 2,239.98 crore.For the full year FY25, standalone net profit grew 6.1 percent to Rs 26,373.48 crore, on total income of Rs 1,47,934.10 crore and operating profit of Rs 42,104.93 crore.

Consolidated net profit for FY25 was Rs 28,055.11 crore, up 6.3% from FY24’s Rs 26,386.20 crore, on total income of Rs 1,55,916.86 crore and operating profit of Rs 44,888.51 crore.Axis Bank maintained a strong capital adequacy ratio of 17.07 percent (Basel III) and a return on assets of 1.74 percent for the full year.Earnings per share (EPS) for FY25 stood at Rs 85.28 (basic, standalone), compared to Rs 80.67 in FY24.

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