Latest news with #EASE
Time of India
an hour ago
- Business
- Time of India
UCO Bank Q1 Net Rises 10.2% on higher net interest income
Mumbai: UCO Bank reported a 10.16% year-on-year (YoY) rise in standalone net profit at Rs 607 crore for the quarter ended June 30, 2025, driven by higher interest income and a sharp increase in other income, even as expenses and provisions also rose during the period. At the end of the quarter, the bank's deposits grew 11.4% YoY to Rs 2.98 lakh crore while gross advances rose 16.5% to Rs 2.25 lakh crore. 'The profit is because of the increase in interest and non-interest income, coupled with the containment of operating expense increase at 4%,' said Ashwani Kumar, MD & CEO, UCO Bank. Net interest income for the quarter ended June 25 stod at Rs 2403 crore, an increase of 6.61% year on year from Rs 2254 crore in the corresponding period last year. Gross NPAs fell 69 basis points to 2.63%, while net NPAs dropped 33 bps to 0.45%. Provision coverage ratio stood at 96.88%. The credit-deposit ratio was 75.4%, while the capital adequacy ratio was 18.39%, with Tier 1 capital at 16.36%. Business per employee improved to Rs.24.64 crore. The bank was awarded second position in digital payments for FY25 and named second runner-up under the 'top improvers' category in the EASE 7.0 index. As of June 2025, the bank had 3,305 domestic branches, 2 overseas branches (in Hong Kong and Singapore), and a representative office in Iran. It operated 2,575 ATMs and 10,920 business correspondent points. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
3 days ago
- Business
- Economic Times
Govt tells state-run banks to start up lending game
The government has asked public sector banks (PSBs) to step up lending to startups. They have been asked to collaborate with educational institutions and incubation centres to identify and monitor early-stage startups to establish formal banking linkages, said people familiar with the development.'These issues were a part of the discussion during the performance review meeting of banks in June,' said an official who didn't want to be identified. 'We have asked banks to look at other measures, including specialised branches, to ensure that such ventures get credit support.' The country's biggest state-owned banks such as Bank of Baroda, Punjab National Bank and Central Bank of India did not sanction any loans to startups in FY25. 'This needs to change, and banks can learn best practices from each other to scale up lending,' said the recommendations have been underscored in follow-up meetings of finance ministry officials with banks on progress made and action taken in the past month.A bank executive said lenders are already exploring tie-ups with leading incubators such as Startup India, Nasscom and Sidbi for credible pipeline sourcing. 'We have also made a case for a separate rating framework or model for risk profiling startups, and it is being discussed internally among banks,' he said. A common rating framework will help in risk assessment and lead to early sanctions, said the bank executive. India has the third-largest startup ecosystem in the world and is expected to witness consistent annual growth of 12-15%, according to government the past, the government has made a case for startups to lower their reliance on funding from overseas lenders and explore the Indian banking system as part of their organisational government has also asked banks to conduct annual hackathons in association with the Indian Institutes of Technology (IITs), universities and science institutions as a part of an initiative to develop and encourage new initiatives in the fintech her review meeting in June, finance minister Nirmala Sitharaman had urged PSBs to proactively identify emerging commercial growth areas for the next decade that can bolster profitability and were also asked to deepen corporate lending in productive sectors, with a strong focus on maintaining robust underwriting and risk-management standards. Under the EASE reforms agenda for FY26, the core focus will be on fortifying risk management systems of PSBs, enhancing their capacity to absorb economic shocks and upholding financial stability, according to the Indian Banks' Association's latest report. EASE is the Enhanced Access & Service Excellence programme of the Department of Financial Services aimed at improving PSBs.
Time of India
13-07-2025
- Business
- Time of India
PSBs explore joint ventures after success of common auction portal
State-run banks are examining the feasibility of setting up more joint ventures among themselves for business and operational efficiency, encouraged by the success of the common property listing and e-auction portal through which more than 100,000 seized properties have been auctioned in the past 11 months. A four-member committee comprising senior executives from public sector banks (PSBs), including Bank of India , Union Bank and Central Bank of India, has been set up to look at the capital requirement for these joint ventures, said two bank executives aware of the development. The panel was set up in June. These initiatives are a part of state-run banks' 'Enhanced Access & Service Excellence (EASE)' reforms agenda. "The committee will also look at specific approaches such as the Re-KYC project (for periodic and re-verification of customer information) developed by Bank of Maharashtra and examine the feasibility of scaling such initiatives and pursuing them through joint ventures," said one of the executives. Another bank executive said some of the collaborative initiatives, including a common collection firm to recover retail and MSME loans below ₹5 crore, are already being worked out. "While some of these will be pursued through PSB Alliance , we can also look at setting up other ventures, depending on the requirement," he said. Doorstep banking and a cloud infrastructure for PSBs are also being pursued, he added. The Bank Asset Auction Network (BAANKNET), through which properties are auctioned, is powered by PSB Alliance, which is set up by all PSBs to offer customer-oriented services jointly. After a review meeting of PSBs in June 2025, finance minister Nirmala Sitharaman had asked banks to proactively identify emerging commercial growth areas for the next decade and deepen corporate lending in productive sectors with a strong focus on maintaining robust underwriting and risk-management standards. Earlier this month, Indian Banks' Association (IBA) chief executive Atul Goel said that through Ease 7.0 in FY24-25, PSBs had accelerated generative artificial intelligence readiness and implemented pilot use cases, strengthened data governance and analytics, adopted cloud for scalable operations, and enabled digital operating models for cost efficiency and quality. As per an IBA report, under EASErise, the reform agenda for FY26, banks' core focus will be on fortifying the risk-management systems of PSBs, enhancing their capacity to absorb economic shocks and upholding financial stability.
Time of India
03-07-2025
- Business
- Time of India
EASE reforms supported PSU banks in advancing 'Viksit Bharat' vision: IBA chief executive
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Enhanced Access & Service Excellence (EASE) reforms have supported public sector banks in advancing the Viksit Bharat vision by deepening MSME outreach , developing sectoral capabilities, and enhancing credit access, IBA Chief Executive Atul Kumar Goel said on sector banks (PSBs) have accelerated GenAI readiness and implemented pilot use cases, strengthened data governance and analytics, adopted cloud for scalable operations, and enabled digital operating models for cost efficiency and quality, he said in a series of posts on the same time, the Indian Banks' Association chief said, banks have strengthened systems for operational and cyber risk , fast-tracked NPA recovery via streamlined processes, digitised collections, and enhanced monitoring with deeper credit & market risk reforms have helped PSBs improve their employee productivity through scientific target-setting, performance appraisals, gender diversity focus, data-driven workforce deployment and succession planning, and personalised learning and development, he are also putting efforts to enhance customer experience across banking channels, strengthen relationships, and streamline processes to improve convenience and service delivery, he added. PSU banks have long been at the forefront of driving the country's economic development and expanding the reach of financial services to underserved segments, the EASE 7.0 Annual Report released on Thursday on this legacy, EASE 7.0 marks a defining phase in the ongoing transformation of PSBs, it as a strategic initiative to align banking operations with India's evolving developmental priorities, this edition of the EASE reforms for FY25 emphasises a strong customer-first approach, robust risk management practices, and the development of capabilities that equip PSBs to meet the demands of a rapidly changing financial landscape, it 7.0 has led to significant advancements in the operational infrastructure of PSBs and reinforced their role as Catalysts of inclusive and sustainable economic growth, it added.
Yahoo
19-06-2025
- Business
- Yahoo
Georgia Power offers energy efficiency resources to beat the summer heat
As summer officially begins, available programs and tips can lower energy bills ATLANTA, June 19, 2025 /PRNewswire/ -- As temperatures and humidity again rise following recent rains, Georgia Power is committed to helping customers stay cool and manage their energy bills with practical energy efficiency tips and resources. The official start of summer this week marks the perfect time for customers to take advantage of tools and programs designed to optimize energy usage and reduce costs now. Energy Efficiency TipsGeorgia Power offers simple yet effective energy-saving tips to help customers beat the heat: Ensure proper airflow by changing air filters regularly and keeping vents clear of obstructions. Turn off lights when not in use and close curtains during peak sun hours to keep the heat out. Seal around windows and doors with caulk and weather-stripping to prevent air leaks. Wash full loads of clothes in cold water and clean the lint trap before each use to increase dryer efficiency. Replace incandescent bulbs with ENERGY STAR-certified LED lights, which use up to 75% less energy. Use large appliances outside peak hours (2 p.m. to 7 p.m.) to maintain a cooler home environment. Discover the EASE of Saving Energy and Lowering BillsFor qualifying customers, the EASE Program provides free home upgrades such as LED light bulbs, heating and cooling system servicing, attic insulation, and more. These improvements can significantly reduce energy consumption and lower bills. Households with an income of 200% or less of the federal poverty guidelines (or a household of two earning less than around $42,000 annually) may qualify. More information is available at My Power Usage Tool and Threshold AlertsThe My Power Usage tool empowers most customers to track and manage their energy consumption with hourly, daily, and monthly monitoring. Customers can view trends, download usage history, and receive customized notifications to stay informed. The My Power Usage Threshold Alerts help customers stay within their energy budget by notifying them when they exceed their target usage, with both monthly and daily notifications available. Locate Assistance Options in Your CommunityGeorgia Power offers a range of resources for those seeking assistance. Customers can visit to access a directory of local resources and organizations to help easily find the support needed based on location. Assistance may be for local help with utilities, food, shelter, and more simply by entering a ZIP code. Additionally, the Income Qualified Portal at allows customers to create an account and explore programs they may qualify for based on income. Energy Assistance and Rate OptionsGeorgia Power continues to expand partnerships with community organizations to provide assistance with rent, utilities, food, shelter, and more. Project Share, administered by The Salvation Army, matches customer contributions to support local communities. Customers can also explore rate options such as FlatBill and PrePay to find plans that best suit their lifestyle. Georgia Power is dedicated to empowering its customers with the tools and resources needed to navigate the summer heat efficiently and economically. By leveraging energy-saving tips, participating in the EASE Program, and utilizing tools like the My Power Usage tool, customers can take control of their energy consumption and reduce their bills. With a commitment to community support and strategic planning, Georgia Power ensures that all customers have access to reliable and affordable energy solutions. For more information, visit About Georgia PowerGeorgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.8 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power offers rates below the national average, focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit and connect with the company on Facebook ( X ( and Instagram ( View original content to download multimedia: SOURCE Georgia Power
