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DFS Secretary Reviews Public Sector Banks’ Performance, Focuses on Financial Inclusion and Digital Resilience

Newsmantra — Mon, 01 Jun 2026 10:23:04 +0000

NEW DELHI. Secretary, Department of Financial Services (DFS), M. Nagaraju, chaired a review meeting in New Delhi to assess the performance of Public Sector Banks (PSBs) during the financial year 2025-26. The meeting comprehensively reviewed key areas including business growth, profitability, asset quality, implementation of government schemes, financial inclusion, digital banking, MSME credit flow, cyber resilience and operational risk management. According to the Finance Ministry, Public Sector Banks demonstrated strong financial and operational performance across these parameters. Progress under major initiatives such as Pradhan Mantri Jan Dhan Yojana, social security schemes, Pradhan Mantri Mudra Yojana, PM Vishwakarma and digital lending programmes was also evaluated.

The discussions focused on strengthening digital banking ecosystems, enhancing cybersecurity frameworks and improving access to credit for MSMEs and other productive sectors. Emphasis was also laid on prudent expenditure management and austerity measures while ensuring resilience amid global economic uncertainties. M. Nagaraju highlighted the importance of robust grievance redressal mechanisms, strong governance standards and operational preparedness to keep the banking system resilient and aligned with the vision of Viksit Bharat 2047. During the meeting, the revamped Department of Financial Services website was also launched, offering improved accessibility, seamless navigation and information dissemination in more than 23 regional languages.

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Bank of India Achieves STQC Certification for its Official Website, Leading the Way in Website Accessibility and Inclusivity

Newsmantra — Thu, 24 Jul 2025 09:23:49 +0000

Bengaluru, July 24, 2025: Bank of India, one of India’s premier public sector banks, has become the first bank in the country to attain Standardization Testing and Quality Certification (STQC) for its official website, demonstrating its steadfast commitment to digital accessibility and inclusive banking.

In line with the Department of Financial Services (DFS) directive and the Guidelines for Indian Government Websites & Apps (GIGW 3.0), Bank of India’s official website has been enhanced to cater to persons with diverse disabilities. By conforming to the Web Content Accessibility Guidelines (WCAG 2.1) and the Rights of Persons with Disabilities Act, the bank ensures barrier-free access to information and services for all users.

The STQC certification, awarded by STQC, Ministry of Electronics and Information Technology, Government of India, on 22nd July 2025, marks a significant step towards realizing the vision of accessible and citizen-friendly digital platforms across India.

This milestone event was graced by the presence of Mr. Rajneesh Karnatak, Managing Director & CEO, along with Executive Director Shri Rajiv Mishra, accompanied by Chief General Manager & CIO Shri Sudhiranjan Padhi, and General Manager & CTO Shri Satyendra Singh, reaffirming the Bank’s commitment to upholding the highest standards of accessibility, empowering all individuals—regardless of ability—to engage with its services seamlessly.

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IndusInd Bank Honoured for Outstanding Performance in Digital Payments by the Department of Financial Services, Ministry of Finance

Newsmantra — Fri, 20 Jun 2025 12:17:42 +0000

The award was presented at the Digital Payments Awards ceremony held at Vigyan Bhavan, New Delhi on June 18, 2025, and graced by Hon’ble Union Minister of Finance Smt. Nirmala Sitharaman among other dignitaries

Bengaluru, June 20, 2025: IndusInd Bank announced that it has received the Digital Payments Award 2023-24 from the Department of Financial Services (DFS), Ministry of Finance – Government of India. The Bank earned this recognition by securing third position among private sector banks for delivering outstanding performance in digital payments during the financial year 2023–24. The award ceremony, which took place on June 18, 2025, at Vigyan Bhavan, New Delhi, was graced by the Union Minister of Finance Smt. Nirmala Sitharaman as the Chief Guest, and Shri Pankaj Choudhary, Minister of State for Finance as the Guest of Honour, among other dignitaries.

This award stands as a testament to IndusInd Bank’s unwavering commitment towards advancing its digital capabilities and delivering a secure, scalable and innovative digital payment solutions that empower millions across the country. As per the official scorecard released by the Department of Financial Services, the Bank achieved 120% of its digital transaction target in FY23-24 – highest among all private sector banks in India. The award was presented to IndusInd Bank – Mr. Ritesh Raj Saxena, Head of Direct Banking and Mr. Dev Ratan Suri, Head – SDG (Payments, Cards and Govt Business) by Shri M. Nagaraju, Secretary, Department of Financial Services and Dr. Abhijit Phukon, Economic Advisor, DFS, at the Digital Payments Award ceremony.

Speaking on this achievement, Mr. Soumitra Sen – Head of Consumer Banking & Marketing, IndusInd Bank, said, “We are honoured and grateful to the Department of Financial Services, Ministry of Finance, for conferring us with this award and recognizing IndusInd Bank’s efforts in driving digital adoption across the country. This recognition reinforces our resolve to continuously innovate and offer our customers intuitive, secure, and personalised banking experiences through our differentiated platforms, such as INDIE. We remain committed to supporting India’s digital journey and making banking accessible and effortless for every segment of society.”

IndusInd Bank, under its Digital 2.0 strategy, continues to deliver seamless, inclusive, and innovation-led financial experiences. Our flagship app, INDIE, highly rated financial app on the App Store is redefining retail banking with 1.6 million active users. The bank’s digital credit platform processed 1.2 million applications monthly through fully digital journeys. With an overall digital transaction mix at 93% (as of March 31, 2025), IndusInd Bank remains at the forefront of India’s digital payments space.

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