Banking

UCO Bank has announced the assignment of additional charge of Managing Director and Chief Executive Officer (MD & CEO) to its Executive Director, Rajendra Kumar Saboo, according to an exchange filing. The decision comes after the completion of the tenure of former MD & CEO Ashwani Kumar on May 31, which left the top leadership position vacant. As per the regulatory filing, Saboo will assume the additional responsibilities with effect from June 19, 2026. He will continue in the role until August 31, or until a permanent appointment is made, or until further orders, whichever is earlier. The appointment has…

State-owned banks in India recorded a sharp rise in green deposit mobilisation in FY26, reflecting growing depositor awareness and the increasing maturity of the Reserve Bank of India’s (RBI) Green Deposit Framework introduced in 2023. According to an analysis of annual reports, eight public sector banks collectively raised ₹3,733.11 crore in FY26 through green deposits, nearly double the ₹1,831.79 crore mobilised in the previous financial year. The increase highlights a broader shift towards sustainable finance, with banks aligning their fundraising and lending activities with environmentally responsible projects. State Bank of India (SBI), the country’s largest lender, mobilised ₹317.39 crore in…

The All India Bank of Maharashtra Employees Federation (AIBOMEF) has urged the management of Bank of Maharashtra to initiate a large-scale recruitment drive across cadres, citing severe staff shortages and increasing workloads across branches and administrative offices. In a representation submitted to the bank’s Managing Director and Chief Executive Officer, the union stated that the lender’s rapid growth in business, profitability, asset quality, and branch network has not been matched by a corresponding increase in manpower. It warned that the gap between business expansion and staff strength has reached “alarming proportions.” According to the union, 147 branches and offices are…

State-owned Bank of Baroda has set its sights on a significant expansion of its corporate lending portfolio for the 2027 fiscal year. Despite broader concerns regarding a slowdown in private capital expenditure, the bank is targeting a 10 percent growth rate for its corporate book. With a robust pipeline of new loan proposals, the lender is positioning itself to capitalize on growing demand within India’s core industrial sectors. Bank of Baroda’s Managing Director and CEO, Debadatta Chand, revealed that the bank currently manages a corporate book valued at ₹4.56 lakh crore. The institution has identified a fresh pipeline of big-ticket…