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The government has launched a Composite Salary Account Package for Central Government employees, combining banking, insurance and card benefits into a single, standardised framework. Rolled out through public sector banks, the package offers zero-balance salary accounts, concessional loans, enhanced insurance cover and digital benefits. The move aims to simplify financial management, improve social security and strengthen employee welfare in line with the vision of Viksit Bharat 2047.

What is the new composite salary account for central employees? Banking and insurance benefits explained

In its latest outlook on Indian PSU banks, HSBC said the sector is entering a phase of structurally stronger growth following a prolonged clean-up cycle. "PSBs are well placed to gain market share given improved capital positions, healthier balance sheets and competitive pricing," the report noted, adding that credit growth is likely to remain broad-based across corporate, MSME and retail segments.

PSU banks to outpace system credit growth over medium term: HSBC Report

The government may signal a major overhaul of public sector banks in Budget 2026, with a proposed Banking Governance Bill aimed at strengthening boards and modernising management. The reform is being shaped around a long-term Banking Vision 2047 to make PSU banks more professional and competitive.

Major banking reform on the cards? Union Budget 2026 may flag a new Governance Bill for PSU banks

India’s bank credit growth in FY26 has been steady rather than spectacular, with retail loans especially housing and gold - doing the heavy lifting. Strong MSME lending by public sector banks and a pick-up in rural demand have added momentum, while corporate borrowing remains cautious. Improving asset quality and a positive outlook for FY27 suggest the credit cycle is slowly but firmly stabilising.

Retail loans drive bank credit growth in FY26 as corporate borrowing stays muted

Govt rules out merger or disinvestment of public sector banks — check details

India’s credit card spending rose 23 per cent year-on-year to Rs 2.17 lakh crore in September, fuelled by festive shopping, GST relief and digital adoption. Public banks gained ground as private lenders moderated growth to focus on stronger credit quality.

Credit card spending surges 23% in September to Rs 2.17 lakh crore

“I will not pursue legal action in England till the Indian Public Sector Banks come clean as I have a justified counter claim that can be adjudicated only in India,” Mallya wrote on X.

&nbsp;

Vijay Mallya halts UK legal move, Seeks Indian banks 'come clean' on recoveries

The government has set a target to place at least two public sector banks among the world’s top 20 by assets, while ruling out consolidation at PSB Manthan 2025. SBI&nbsp;is the only Indian public lender in the world's top 50 banks, ranked 47th by assets, as per global banking rankings.

Government aims to put two PSBs among world's top 20, rules out mergers at Manthan 2025

The RBI has launched the Centralised Web Portal UDGAM (Unclaimed Deposits-Gateway to Access Information) for the public. The said portal facilitates the registered users to search unclaimed deposits/amounts across multiple banks in one place in a centralised manner.

Government reports Rs 52,174 crore in Unclaimed Bank Deposits from FY22 to FY24

The minister highlighted that the total value locked in gross NPAs has reduced from Rs 6.16 lakh crore in March 2021 to Rs 2.83 lakh crore in March 2025.

Gross NPAs of Public Sector Banks drop sharply to 2.58% in FY25: Finance Ministry

The meeting will review the loan interest rates for home loans, car loans, and personal loans that many banks have not reduced for their customers.&nbsp;

Finance Minister Nirmala Sitharaman to hold meeting with public sector banks on July 27 

Public sector banks (PSBs) in India have shown significant financial improvement, as their dividend payouts increased by 33 per cent to Rs 27,830 crore in the financial year 2023-24.

Public sector banks' dividend payout rises 33% in FY24: Centre

A similar growth trajectory is witnessed in card transactions as well, said the RBI report. During CY2024, there were 447.23 crore and 173.90 crore payment transactions worth of Rs 20.37 lakh crore and Rs 5.16 lakh crore through credit and debit cards, respectively.

Number of credit cards more than doubled to 10.8 crore in 5 years, transactions surge: RBI

State-owned UCO Bank on Tuesday said the bank would mobilise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter to comply with Sebi's minimum public shareholding (MPS) norms.

UCO Bank to raise Rs 2,000 crore via QIP this quarter 

The gross non-performing assets of public sector banks (PSBs) stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, Parliament was informed on Tuesday.

Gross NPAs of public sector banks at Rs 3.16 lakh crore, over 3% of outstanding loans

Public Sector Banks report strong 11% growth in H1 FY25, driven by banking reforms and digital advances, with improved profits, reduced NPAs, and enhanced customer service, showcasing resilient financial performance.

Public Sector Banks report strong growth with 11% YoY increase in H1 FY 2024-25  

Which PSU stocks are buying opportunities? Strong money will be made in government banks?

Strong money will be made in government banks?

EXCLUSIVE news related to PSU Banks - DFS's plan ready to fulfill MPS rules in PSU banks - DFS told that banks were asked to first consider the QIP route.

Exclusive: DFS Unveils Plan for PSU Banks to Fulfill MPS Requirements | QIP Route Considered First

In the first three quarters of the current financial year, all 12 PSBs earned a total profit of Rs 98,000 crore, only Rs 7,000 crore less than the entire FY23. PSBs earned the highest-ever aggregate net profit of Rs 1.05 lakh crore during FY23 compared to Rs 66,539.98 crore earned in 2021-22.

Public sector banks' dividend payout may exceed Rs 15,000 crore in FY24

Considering PSBs’ valuation history, their trading multiples may look constrained now; however, the quality of earnings, growth outlook, and broader re-rating in public sector enterprises (PSEs) will enable steady performance for the sector, the brokerage added.

PSBs' valuations still reasonable despite 162% jump in Nifty PSU Bank index in less than 2 years: Report

public-sector-banks

The government has launched a Composite Salary Account Package for Central Government employees, combining banking, insurance and card benefits into a single, standardised framework. Rolled out through public sector banks, the package offers zero-balance salary accounts, concessional loans, enhanced insurance cover and digital benefits. The move aims to simplify financial management, improve social security and strengthen employee welfare in line with the vision of Viksit Bharat 2047.

In its latest outlook on Indian PSU banks, HSBC said the sector is entering a phase of structurally stronger growth following a prolonged clean-up cycle. "PSBs are well placed to gain market share given improved capital positions, healthier balance sheets and competitive pricing," the report noted, adding that credit growth is likely to remain broad-based across corporate, MSME and retail segments.

The government may signal a major overhaul of public sector banks in Budget 2026, with a proposed Banking Governance Bill aimed at strengthening boards and modernising management. The reform is being shaped around a long-term Banking Vision 2047 to make PSU banks more professional and competitive.

India’s bank credit growth in FY26 has been steady rather than spectacular, with retail loans especially housing and gold - doing the heavy lifting. Strong MSME lending by public sector banks and a pick-up in rural demand have added momentum, while corporate borrowing remains cautious. Improving asset quality and a positive outlook for FY27 suggest the credit cycle is slowly but firmly stabilising.

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Public Sector Banks

What is the new composite salary account for central employees? Banking and insurance benefits explained

PSU banks to outpace system credit growth over medium term: HSBC Report

Major banking reform on the cards? Union Budget 2026 may flag a new Governance Bill for PSU banks

Retail loans drive bank credit growth in FY26 as corporate borrowing stays muted

Govt rules out merger or disinvestment of public sector banks — check details

Credit card spending surges 23% in September to Rs 2.17 lakh crore

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Government launches credit support scheme for e-commerce exporters

Indian Railways electrification boosts energy security amid West Asia oil supply crisis

New LPG Rates in March 2026: Cooking gas becomes more expensive; see 19, 14.2 kg rates per cylinder

Reserve Bank of India plans faster compensation for fraudulent digital transactions

Petrol, diesel shortage rumours debunked—What IOCL, BPCL and HPCL said

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