Bank of India(BOI) Q2 profit jumps 25%

For the September quarter, Bank of India's net profit increased by 25.3% year over year to ₹3,202 crore from ₹2,555 crore during the same period last year. The public sector lender's net interest income (NII) increased significantly, and its overall performance was bolstered by gains in asset quality and operational effectiveness. 

From ₹5,914 crore to ₹7,007 crore a year ago, net interest income increased by 18.5%. Operating profit increased more quickly, rising 33.2% year over year from ₹3,821 crore to ₹5,089 crore.

The bank reported an improvement in asset quality during the quarter, with both gross and net non-performing asset (NPA) ratios declining sequentially.

Gross NPA stood at 1.6% in September 2026, compared with 1.81% in the June quarter. Net NPA declined to 0.42% from 0.51% over the same period.

The provision coverage ratio (PCR), which indicates the extent to which a bank has set aside provisions against its bad loans, rose to 94.45% in September 2026 from 93.39% a year earlier. The slippage ratio stood at 0.15%, while credit cost was 0.12%.

Bank of India’s global business grew 21.13% year on year to ₹18.93 lakh crore as of September 2026, reflecting growth in both deposits and advances.

Global deposits increased 21.59% to ₹10.38 lakh crore, while global advances rose 20.58% to ₹8.55 lakh crore. Retail, agriculture and micro, small and medium enterprise (MSME) lending also recorded double-digit growth.

Retail credit rose 19.27% year on year to ₹1.74 lakh crore, while MSME advances increased 20.27% to ₹1.18 lakh crore. Agriculture credit grew 16.34% to ₹1.21 lakh crore.

Retail, agriculture and MSME lending together form a key part of the bank’s RAM (retail, agriculture and MSME) portfolio. RAM advances grew 18.68% year on year and accounted for 58.63% of total advances.

The bank’s cost-to-income ratio improved by 507 basis points year on year to 47.95%, indicating greater operating efficiency. Return on assets rose 10 basis points to 1.01%, while return on equity increased 142 basis points to 16.36%.

Global net interest margin improved by six basis points year on year to 2.47%.

Bank of India’s capital adequacy ratio (CRAR) increased 109 basis points year on year to 17.78%, with its Common Equity Tier 1 (CET-1) ratio at 15.49%.

Bank of India also reported that priority sector advances grew 12.03% year on year, accounting for 46.24% of adjusted net bank credit (ANBC) as of September 2026. Advances to small and marginal farmers stood at 13.84% of ANBC, above the regulatory norm of 10%, while lending to weaker sections accounted for 17.51%, against the prescribed norm of 12%.

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Indian Bank Q2 Net Profit Jumps 14.7%

Indian Bank reported a 14.7% rise in net profit to Rs 3,462 crore for the quarter, bolstered by core operating growth and one-time gains. With asset quality improving to 1.61% Gross NPA and management raising growth guidance for deposits and advances, the outlook remains robust despite potential industry-wide treasury headwinds.

Net Profit reached Rs 3,462 crore, a 14.71% increase year-on-year.Operating Profit topped Rs 7,000 crore, reflecting a 46.58% surge compared to the previous year.

Indian Bank has released its latest quarterly results, showcasing a strong performance driven by both core banking activities and strategic gains. The bank's net profit saw a double-digit percentage rise, aided by a Rs 1,134 crore mark-to-market gain from its NSE stake sale. Even excluding these one-time items, the bank recorded a healthy 18% growth in operating profit.

The bank’s decision to revise its growth guidance upward—targeting 11-12% for deposits and 13-14% for advances—signals management's confidence in the current credit demand. Improved net interest margins (NIM) and a significant reduction in the special mention account (SMA) book, which dropped to 4.19% from 7.35% a year ago, highlight a strengthening balance sheet.

Asset quality continues to improve, with Gross NPA standing at a low 1.61% and Net NPA at 0.14%. The bank maintains a comfortable capital adequacy ratio of 16.21%, with expectations to reach up to 17.5% by the end of the fiscal year through organic profit retention.

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Union Bank of India Q2 net profit rises 30%

Union Bank of India, for the second quarter ended September 30, 2026, reported 30% year-on-year (YoY) growth in standalone net profit at ₹5,537 crore.Provisions for Non Performing Assets (NPA) grew 13% yoY to Rs 5,960 crore. 

Interest income of the Bank stood at Rs. 28,158 crore as compared with ₹26,191 crore a year ago, up 7.51%.

Total business of the Bank increased by 12.01% YoY, wherein gross advances increased by 18.53% YoY & total deposit grew by 6.87% YoY. 

Global deposits increased by 6.87% YoY. The bank now has a total deposit base of ₹13,19,455 crores as on September 30, 2026. 

 In case of advances, the Retail, Agri and MSME (RAM) segment of the Bank increased by 14.65% YoY, within which 11.24% growth was seen in Retail and 22.39% growth in MSME on YoY basis. RAM advances as a percentage of domestic advances stood at 57.47%, the bank said. 

The Bank’s Gross NPA was reduced by 13% to ₹27,916 crore, and Net NPA was also reduced by 8% on a YoY basis to ₹4,768 crore. 

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Central Bank of India Q2 net profit jumps 21%

 

Central Bank of India on Saturday (October 17, 2026) reported a 21% rise in net profit to ₹1,469 crore for the second quarter ended September 30, 2026, helped by improved core income and reduction in bad assets. The public sector lender posted a net profit of ₹1,324 crore in the same period of the previous fiscal.

“The bank's total income increased to ₹11,737 crore in the second quarter from ₹10,212 crore a year ago,” Central Bank of India said in a regulatory filing.

Interest income rose to ₹10,357 crore in the September quarter of FY27 from ₹8,743 crore in the year-ago period.

During the quarter, net interest income rose 26% to ₹4,146 crore against ₹3,283 crore in the second quarter of last financial year. Cost-to-income ratio reduced to 58.95% compared to 62.42% in the year-ago period. The bank's operating profit also increased to ₹2,268 crore from ₹2,186 crore a year ago.

As regards asset quality, gross non-performing assets (NPAs) of the bank moderated to 2.39% of gross advances at the end of September 2026 compared to 3.01% a year ago. Similarly, net NPAs or bad loans came down to 0.31% at the end of September 2026 against 0.48% a year ago.

However, provisioning increased to ₹490 crore during the quarter against ₹144 crore in the July-September period of the last fiscal.

The Provision Coverage Ratio (PCR) stood at 97.16% as on September 30, 2026, registering a growth of 28 bps, from 96.88% at the end of September 2025.

The Capital to Risk-Weighted Assets Ratio (CRAR) improved to 17.68% from 17.48% at the end of the second quarter of the previous financial year.

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Punjab & Sind Bank Q2 Profit Jumps 39.88%

On Saturday, October 17, the Central Bank of India said that its standalone net profit for the September quarter of the fiscal year 2026–2027 had increased by 21% year over year to ₹1,469 crore, thanks to an increase in net interest income (NII). The bank's core income, or NII, rose 26.3% year over year to ₹4,145 crore in the second quarter from ₹3,283 crore in the same time the previous year.

Gross non-performing assets (NPAs) decreased from 2.60% in the June quarter to 2.39% as of September 30, 2026, indicating a sequential improvement in the bank's asset quality. Net non-performing assets (NPAs) decreased from 0.49% in the prior quarter to 0.31%.

Rs 3,746.52 Cr, up 11.06% YoY growth from Rs 3,373.28 Cr in the comparable quarter. Rs 411.97 Cr, higher by 39.88% year on year, showing stronger profit conversion in the quarter. The disclosed operating/profit line improved alongside revenue, which supported the net profit outcome.

Punjab & Sind Bank Q2 Results FY27: The quarter offers a clean read on the earnings trend, with both top line and net profit moving higher.

Punjab & Sind Bank Q2 Results FY27 show a year-on-year improvement in both revenue and net profit. Revenue rose to Rs 3,746.52 Cr, while net profit climbed to Rs 411.97 Cr. The results analysis indicates that profit growth was materially faster than revenue growth in this quarterly results update.

The bank’s revenue increased 11.06% YoY growth, and net profit increased 39.88% YoY growth. 

Net profit margin improved to 11.0% from 8.7% in the comparison quarter. Net profit rose 39.9% year on year to Rs 411.97 Cr.

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Punjab National Bank(PNB) Q2 Net profit rises 13%

Punjab National Bank (PNB) on Friday reported a 13 per cent increase in net profit to Rs 5,532 crore for the second quarter ended September 2026.

 

The country's second-largest public sector lender had logged a profit of Rs 4,904 crore in the year-ago period.

 

The bank's total income increased to Rs 38,185 crore in the second quarter from Rs 36,214 crore a year ago, PNB said in a regulatory filing.

 

Interest income rose to Rs 34,585 crore in the September quarter of FY27 from Rs 31,872 crore in the year-ago period.

 

The operating profit also rose to Rs 7,532 crore against Rs 7,227 crore in the same quarter a year ago.

 

On the asset quality front, its gross non-performing assets (NPAs) moderated to 2.55 per cent of gross advances at the end of September 2026 compared to 3.45 per cent a year ago.

 

Similarly, net NPAs or bad loans came down to 0.25 per cent at the end of September 2026 against 0.36 per cent at the end of September 2025.

 

Provisions and contingencies came down to Rs 97 crore from Rs 643 crore in the second quarter of the previous financial year.

 

The Provision Coverage Ratio (PCR) climbed to 97.32 per cent as on September 30, 2026, against 96.91 per cent at the end of the second quarter of the last financial year.

 

Capital to Risk-Weighted Assets Ratio (CRAR) also witnessed a rise to 17.95 per cent from 17.19 per cent at the end of September 2025.

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UCO Bank Q2 net profit rises 27%

Public sector UCO Bank on Thursday reported a 27 per cent rise in net profit to ₹786 crore for the second quarter ended September 30.The Kolkata-based lender earned a net profit of ₹620 crore in the same period last fiscal year.

Total income increased to ₹8,170 crore in the second quarter from ₹7,421 crore a year ago, UCO Bank said in a regulatory filing.Interest income improved to ₹7,286 crore in the September quarter of FY27 from ₹6,537 crore in the year-ago period.

Operating profit also increased to ₹1,872 crore against ₹1,613 crore in the same quarter a year ago.

On the asset quality front, the bank's gross non-performing assets (NPAs) moderated to 1.96 per cent of gross advances at the end of September 2026 compared to 2.56 per cent a year ago.Net NPAs or bad loans came down to 0.18 per cent at the end of September 2026 compared to 0.43 per cent at the end of September 2025.

However, provisioning against bad loans rose marginally to ₹444 crore during the quarter against ₹405 crore in the July-September period of the last fiscal year.

The Provision Coverage Ratio (PCR) improved to 98.36 per cent as of September 30, 2026 against 96.99 per cent at the end of the second quarter of the last financial year.

The Capital to Risk-Weighted Assets Ratio (CRAR) rose to 18.85 per cent from 17.89 per cent at the end of the second quarter of the previous financial year.

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Canara Bank Q2 Standalone net profit rises 8% YoY

 Canara Bank on Wednesday reported a standalone net profit of Rs 5,175 crore for the second quarter of FY27, up more than 8% from Rs 4,774 crore in the corresponding quarter of the previous financial year. The earnings announcement lifted the bank’s shares nearly 5%.

The lender’s net interest income (NII), or the difference between interest earned and interest expended, jumped more than 20% YoY to Rs 11,005 crore during Q2 of the ongoing financial year 2027, from Rs 9,141 crore reported in the same period of FY26. The shares of the company jumped to Rs 126.44 apiece on NSE.

Operating profit margin however reduced to 21.40% in the second quarter of FY27 from 22.25% in the year-ago period. Net profit margin however increased slightly to 12.64%, from 12.37% in the same period last year. The bank’s overall net worth rose nearly 17% YoY to Rs 1.13 lakh crore in the quarter which ended on September 30, 2026.

Canara Bank’s asset quality also improved, with net non performing assets (NNPA) reducing around 34% YoY to Rs 4,053 crore, while gross performing assets (GNPA) fell over 32% YoY to Rs 18,299 crore during the quarter under review. As a result, gross NPA ratio declined to 1.33% in Q2 FY27, from 2.35% in the corresponding quarter of the previous financial year.

The lender’s annualised return on assets (RoA) stood at 1.05% in Q2 FY27, as against 1.10% in the same period last year. Its debt-equity ratio meanwhile stood at 0.52%, as against 0.55%.

Canara Bank’s provisions decreased over 6% YoY to Rs 3,583 crore, while quarterly net interest margin (NIM) stood at 2.55%, compared to 2.5% in the year-ago period. Its cost of funds (CoF) decreased to 4.88% in Q2 FY27, from 5.21% in Q2 FY26, while yield on advances ratio fell to 8.03% from 8.4%. Cost of deposits ratio meanwhile dropped to 5.27%. Slippage ratio eased to 0.15% from 0.19%.

Its overall business performance is on track to meet its FY27 guidance, except CASA ratio that stood at 29%, slightly lower than its 30-32% guidance.

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Latest Update on Bank Strike for 3-Day from September 28–30

The United Forum of Bank Unions (UFBU) has decided to proceed with its proposed three-day nationwide bank strike on September 28, 29 and 30, 2026, following a conciliation meeting convened by the Ministry of Labour on September 22.

The decision was communicated through UFBU Circular No. 2026/26 dated September 22, 2026, issued to all affiliated unions and members.

According to the UFBU circular, a conciliation meeting was conducted by the Deputy Chief Labour Commissioner (Dy. CLC), Ministry of Labour, Government of India, in New Delhi. Representatives of UFBU, the Indian Banks’ Association (IBA), Department of Financial Services (DFS), and bank managements participated in the meeting.

During the meeting, UFBU reiterated its demand for the implementation of 5-Day Banking, which, according to the union, was agreed upon and signed in March 2024 under the last wage revision settlement.

The IBA informed the meeting that the PLI scheme for Scale IV officers and above has been kept in abeyance as per Government instructions and that the matter would be discussed further at the bipartite level.

Regarding 5-Day Banking, IBA stated that the issue is currently under consideration by the Government and appealed to UFBU to reconsider and defer the strike.

Representatives of the DFS, Ministry of Finance, also stated that the Government is considering the 5-Day Banking issue and needs to take into account the views of various stakeholders before arriving at a decision. DFS therefore requested UFBU to defer the proposed strike and continue discussions.

UFBU stated that it had expressed its strong protest against what it described as measures by managements and other authorities intended to discourage employees and officers from participating in the strike.

The union also raised concerns regarding alleged pressure on Scale IV and above officers and Probationary Officers, stating that such measures should be avoided.

UFBU further informed the authorities that if there is any concrete and positive development towards implementation of 5-Day Banking, the federation would consider the same.

However, in the absence of such a development, UFBU stated that it would proceed with the proposed strike.

Following the conciliation meeting, UFBU has called upon all its affiliated unions and members to implement the three-day strike on September 28, 29 and 30, 2026.

The development keeps the possibility of disruption to banking services during the three-day period, although the impact on individual branches and banking services will depend on participation and applicable arrangements.

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Newly Joined Clerk in PSU Bank Salary in 2026: Salary Slip, Basic Pay, Allowances & Take-Home Salary

A newly joined Public Sector Bank (PSU Bank) Clerk can expect a salary comprising Basic Pay, Dearness Allowance (DA), House Rent Allowance (HRA), Transport Allowance and other applicable allowances.

The salary slip shown above provides an example of a June 2026 salary structure for a Customer Service Associate (Clerk) in a Public Sector Bank. The actual salary may vary depending on the bank, posting location, stage of pay, allowances and individual deductions.

PSU Bank Clerk Salary Slip – June 2026

According to the salary slip, the employee's Gross Salary is ₹48,990, while the Net Salary credited is ₹45,096.41.

The Basic Pay of ₹26,730 forms the core component of the salary, while DA, HRA, transport and special allowances add to the monthly gross earnings.

The total employee deductions reflected in the slip are ₹3,893.59.

The slip also displays a DCPS Bank Contribution of ₹5,050.63 separately. This is shown as a contribution and should not be added to the employee's total deductions when calculating the net salary.

Net Salary

After applicable employee deductions, the salary slip shows:

Gross Salary: ₹48,990.00

Total Employee Deductions: ₹3,893.59

Net Salary:₹45,096.41

Thus, the employee receives approximately ₹45,096 as take-home salary for the month shown in the example.

Important Note for Newly Joined PSU Bank Clerks

The salary shown in this example should not be treated as a fixed salary applicable to every newly joined bank clerk. Actual salary can differ based on factors such as:

* Bank and applicable Bipartite Settlement

* Pay stage and increments

* Posting/location

* HRA and other location-based allowances

* Special allowances

* Professional tax and other statutory deductions

* Pension/NPS/DCPS-related contributions

* Other individual deductions

Therefore, candidates joining a PSU bank should check their appointment terms and the latest applicable salary structure for an accurate estimate.

The example salary slip demonstrates that a PSU bank clerk's monthly salary can include several components beyond Basic Pay. In this June 2026 example, ₹48,990 gross salary translates into ₹45,096.41 net salary after employee-side deductions.

Disclaimer: This post is based on the salary slip shown in the accompanying image and is intended for informational purposes. Salary components and amounts may vary from employee to employee and from bank to bank.

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Public Sector Banks More Efficient Than Private Lenders: EAC-PM Study

 

Public Sector Banks (PSBs) have emerged as more efficient than private sector banks in recent years, challenging the common perception that private lenders consistently outperform their government-owned counterparts.A working paper by the Economic Advisory Council to the Prime Minister (EAC-PM) has highlighted a significant improvement in the efficiency of public sector banks, particularly during the last three years.

## PSB Efficiency Rises Sharply

According to the study, the efficiency of Public Sector Banks improved to 93.12% in FY26, compared with 72.46% in FY20.

The study attributes this improvement to factors including **capital infusion, technological upgrades, rationalisation of business operations, branches and employees, and greater digitalisation.

The paper noted that PSBs were relatively more efficient than private banks during most of the study period, with the exception of FY19-FY22.

 Study Covers 47 Banks

The working paper, authored by Soumya Kanti Ghosh, part-time member of EAC-PM and Group Chief Economic Advisor at State Bank of India, along with Tapas Kumar Parida, economist at SBI, analysed the performance of 47 banks during FY15 to FY26.

The study covered:

*12 Public Sector Banks

*21 Private Sector Banks

*14 Foreign Banks

Together, these banks account for more than **95% of the assets of India's banking system**.

The study measured banking efficiency on a scale of 0 to 1, with the results expressed in percentage terms.

## Private Banks Also Show Improvement

The improvement was not limited to PSBs. The efficiency of private sector banks increased to more than 86% in FY26, compared with around 78% in FY20.

However, foreign banks recorded relatively stable efficiency levels of around 83–85% during FY20 to FY26.

The study observed that the performance of PSBs has been in a better position compared with private banks, particularly during the most recent three-year period from **FY24 to FY26**.

## SBI Leads Among Public Sector Banks

Among Public Sector Banks, State Bank of India (SBI) emerged as the strongest performer in the full FY15-FY26 sample period, recording an efficiency score of 97.49%.

It was followed by:

* Bank of Maharashtra – 90.49%

* SBI – 97.49% among PSBs

Among private sector banks, HDFC Bank recorded an efficiency score of 97.54%, followed by IDBI Bank at 96.51%, according to the study.

Among foreign banks, HSBC and JP Morgan recorded the highest scores.

Over the full FY15-FY26 study period, JP Morgan and HSBC ranked first, followed by Citibank, HDFC Bank, and SBI.

## What Is Driving the Change?

The improvement in PSB efficiency reflects the transformation taking place across India's banking sector.

Several factors have contributed to this change:

* Capital infusion and stronger balance sheets

* Technology upgrades and digital banking

* Rationalisation of branches and employees

* Greater operational efficiency

* Business restructuring and consolidation

* Increased adoption of automation and data-driven systems

The study suggests that the traditional perception of PSBs being less efficient than private banks may no longer accurately reflect the current banking landscape.

Banking Is Entering a New Phase

The EAC-PM paper also highlighted that the Indian banking sector is likely to undergo significant changes in the coming years.

Artificial Intelligence (AI), hyper-personalisation, automation, data security and digital customer experiences are expected to become increasingly important.

Banks are likely to move from reactive customer service towards more proactive and personalised engagement, particularly as younger customers increasingly expect digital-first banking services.

The paper suggests that banks will increasingly focus on data-driven customer experiences, AI-based services, automation and robust data security.

The latest findings provide an important perspective on the changing competitive landscape of Indian banking.

With PSB efficiency rising from 72.46% in FY20 to 93.12% in FY26, the performance gap between public and private sector banks appears to be narrowing—and, in several recent years, PSBs have performed better on efficiency measures.

The transformation of Public Sector Banks through technology, capital strengthening, operational reforms and digitalisation could play a crucial role in making them more competitive and customer-focused in the years ahead.

Hence, India's Public Sector Banks are not just becoming stronger—they are becoming more efficient.

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Financial Results of PSU and Private Banks for Q1FY27

  

The public sector and private sector banks have released the financial results for Q1FY27. 

Public Sector Bank

Bank	Results
Bank of India (BoI)	Click Here
Punjab & Sind Bank	Click Here
Central Bank of India	Click Here
Union Bank of India	Click Here
Indian Overseas Bank	Click Here
Bank of Maharashtra	Click Here
State Bank of India (SBI)	Click Here
Punjab National Bank (PNB)	Click Here
Bank of Baroda (BoB)	Click Here
Canara Bank	Click Here
Indian Bank	Click Here
UCO Bank	Click Here

Private Banks

Bank	Results
IDBI Bank	Click Here
Kotak Mahindra Bank	Click Here
IDFC First Bank	Click Here
HDFC Bank	Click Here
ICICI Bank	Click Here
Indusind Bank	Click Here
Axis Bank	Click Here

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State Bank of India(SBI) Q1 results: Net profit rises 10%

 

For the April–June quarter of FY27, State Bank of India (SBI) reported a 10.2 percent year-over-year increase in net profit to Rs 21,121 crore, exceeding the CNBC–TV18 poll estimate of Rs 19,145 crore. In the same period last year, the biggest lender in the nation earned a net profit of Rs 19,160 crore.

From Rs 40,907 crore to Rs 46,992 crore, net interest income (NII) increased by 15% annually. Additionally, the amount exceeded the CNBC-TV18 poll prediction of Rs 45,800 crore. In contrast to the poll forecast of Rs 30,004 crore, pre-provisioning operating profit (PPoP) for the quarter was Rs 33,530 crore.

SBI also reported a sequential improvement in asset quality. Gross non-performing assets (NPAs) declined to 1.47 percent from 1.49 percent in the preceding quarter, while the net NPA ratio eased to 0.38 percent from 0.39 percent.

Provisions rose to Rs 5,047 crore during the quarter from Rs 2,872 crore in the preceding quarter and Rs 4,759 crore in the year-ago period. However, credit cost remained unchanged sequentially at 0.27 percent and declined from 0.47 percent a year earlier.

Domestic net interest margin (NIM) stood at 3 percent during the quarter, while whole-bank NIM improved by 5 basis points sequentially to 2.86 percent.

Gross advances grew 18.6 percent year-on-year and 2.3 percent sequentially during the quarter. Slippages increased to Rs 7,359 crore from Rs 5,548 crore in the preceding quarter. The slippage ratio rose to 0.57 percent from 0.47 percent sequentially.

SBI's return on assets (ROA) stood at 1.11 percent for the quarter, while return on equity (ROE) was 17.87 percent.

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5-Day Banking Latest News: Bank Unions Announce Nationwide Demonstrations on 12 August

The United Forum of Bank Unions (UFBU) has called for coordinated protests on August 12, 2026, to call for the early adoption of five-day banking. All state capitals as well as other significant cities and locations around the nation will host the protests after business hours.

The need for five-day banking hasn't been met in over two years. In January 2026, bank workers staged a one-day walkout in support of the demand, but no decision was made about the introduction of five-day banking.

In its circular dated 4 August 2026, UFBU said that after the successful strike on 27 January 2026, bank employees and officers were expecting a positive response from the Government on the 5-day banking demand.

According to UFBU, the Indian Banks’ Association (IBA) had agreed to 5-day banking in the MOU as well as the Settlement/Joint Note, and the matter was recommended to the Government. However, a final decision is still awaited.

According to UFBU, the government has requested that banks begin preparing for the upcoming wage adjustment settlement, which is scheduled for November 2027. The unions, however, stated that a decision on the outstanding matter of implementing five-day banking had yet to be made. As a result, the unions have made the decision to bring up the issue once more and ask the government for an early ruling. 

On August 12, 2026, after business hours, UFBU has agreed to hold coordinated protests in all state capitals as well as other significant towns and locations. It has been requested that all bank employees and member unions fully participate in the program. According to UFBU, the unions will convene soon to choose their next line of action, which may include going on strike.However, no new strike date has been announced yet.

The circular has been signed by leaders of AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC and INBEF.

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Bank Employees' Dearness Allowance (DA) Increased to 27.83% from August 2026 – Check Latest DA Rate

There is good news for lakhs of bank employees across India. The Dearness Allowance (DA) has been increased by 2.13%, taking the DA rate from 25.70% to 27.83% for the quarter August 2026 to October 2026.

The revised DA will be effective from 1 August 2026 and will be payable to employees covered under the 12th Bipartite Settlement.

New DA Rate Effective from 1 August 2026

The latest Dearness Allowance has been calculated based on the average Consumer Price Index (CPI-IW) for the three-month period of April, May, and June 2026.

CPI-IW Data Used for DA Calculation

Month	CPI-IW
April 2026	149.9
May 2026	150.8
June 2026	151.9
Average CPI-IW	150.86

Based on this average CPI of 150.86, the Dearness Allowance has been revised to 27.83%.

DA Increased by 2.13%

The latest revision results in an increase of 2.13 percentage points over the existing DA.

Particulars	DA Rate
Existing DA (May–July 2026)	25.70%
Revised DA (August–October 2026)	27.83%
Increase	2.13%

This increase will enhance the monthly salary of bank employees by increasing the DA component of their pay.

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Canara Bank Q1 Net profit rises 2%

On July 27, state-owned lender Canara Bank announced that its net profit for the first quarter of FY27 was Rs 4,856 crore, up 2.2% from Rs 4,752 crore for the same period last year.

The bank's net interest income increased from Rs 9,009 crore in Q1FY26 to Rs 10,215 crore, a 13.4 percent increase. However, the net interest margin (NIM) for the June quarter remained constant at 2.52 percent, the same amount as in Q1 of FY26.

The PSU lender’s Capital Adequacy Ratio stood at 17.17 percent as at June 2026, out of which CET1 ratio was 12.91 percent.

The bank’s domestic deposits stood at Rs 14.73 lakh crore as at June 2026, rising 10.1 percent on a year-on-year basis, while domestic gross advances grew much faster at 17 percent YoY to Rs 12.07 lakh crore as at June 2026.

The company’s asset quality improved during the quarter. The gross non-performing assets (GNPA) ratio improved to 1.57 percent as at June 2026, reduced from 1.84 percent as at March 2026 and 2.69 percent as at June 2025.

The net NNPA ratio improved to 0.36 percent as at June 2026, down from 0.43 percent as at March 2026 and 0.63 percent as at June 2025.

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Bank of Baroda(BOB) Q1 Net profit falls 72%

Bank of Baroda(BOB) reported a 72 percent drop in net profit for the first quarter of FY27 to Rs 1,278 crore on July 24, after the lender absorbed the impact of the out-of-court settlement of about Rs 5,700 crore to the joint administrators of United Arab Emirates-based NMC Health.

The country’s second largest public sector lender had posted a net profit of Rs 4,541 crore in the previous corresponding quarter.

The lender, however, posted a 9.5 percent growth in net interest income for Q1 FY27 to Rs 12,524 crore, a near 10 percent growth from Rs 11,435 crore in the prior corresponding quarter.

The bank’s asset quality remained benign, with the net non-performing asset (NNPA) coming down by 10 basis points to 0.5 percent for the June quarter from 0.6 percent, while the gross NPA (GNPA) was at 1.99 percent, as compared to 2.24 percent in the first quarter of FY26.

The lender’s capital adequacy ratio was at 16.31 percent for the first quarter, as compared to 17.61 percent, a whopping 130 basis point drop.

The bank’s global advances grew 17.4 percent to Rs 14.16 lakh crore for Q1 FY27, as compared to Rs 12.07 lakh crore in the previous corresponding period. The bank’s deposits, however, grew lesser at 13.8 percent to Rs 16.33 lakh crore.

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