Chennai: Indian Overseas Bank’s annual net profit crossed Rs 5,000 crore for the first time, with the public sector lender reporting FY26 profit at Rs 5,209 crore, up 56% from Rs 3,335 crore in FY25, driven by higher income and lower provisions and tax expenses.The bank’s operating profit also crossed Rs 10,000 crore for the…
Chennai: Indian Bank met or exceeded nearly all of its FY26 guidance metrics, with the cost-to-income ratio the lone miss at about 46% versus a 45% target, the public sector lender’s MD & CEO Binod Kumar told TOI. The bank’s core profitability remained stable, with net interest margin (NIM) at 3.24% for FY26—above the guided…
Chennai: City Union Bank aims to maintain its long-standing record of outpacing industry growth while retaining its conservative lending model, management said on Wednesday.As N Kamakodi prepares to step down after a 15-year stint as MD & CEO of the old private sector lender, R Vijay Anandh will take charge on May 1, 2026.Anandh indicated…
Chennai: Tamil Nadu could serve as a model for India’s clean energy transition, with a new report pointing to the state’s growing role in attracting investments in the sector through stronger industrial policy.The India’s Climate and Energy Frontiers (ICEF) report, prepared by Schmidt Sciences with India Institute of Technology Madras and other leading national institutions,…
Chennai: PMK president Anbumani Ramadoss welcomed Madras high court’s order directing a probe by CBI into alleged irregularities in the procurement of 45,800 transformers for Tangedco. The court’s directive follows allegations that the transformers were purchased at inflated prices between 2021 and 2023, resulting in a staggering loss of 397 crore to the state exchequer….
Chennai: The state govt should release 17,307 crore to the Tamil Nadu Power Distribution Corporation (TNPDCL) towards subsidy for various categories of electricity consumers this financial year. It is roughly 1,300crore more compared with the subsidy released for 2025-26.Of the 17,307crore, the lion’s share of 8,428.16 crore goes towards 100 units of free electricity provided…
Chennai: The Cauvery Water Management Authority (CWMA) which met on Wednesday directed Karnataka to release 2.5 tmc of Cauvery water to Tamil Nadu for the month of May, aligning with the Supreme Court’s final award in the inter-state river dispute. TN also objected to Karnataka’s contention that excess water was released in 2025 -26, stating…
A fire rages in Parson Valley range in the Nilgiris, burning through more than 800 hectares in two weeks When the Nilgiris forests caught fire two weeks ago, Tamil Nadu’s forest department fought back with everything it had — drones, more than 400 field staff and an Indian Air Force Mi-17 V5 helicopter equipped with…
The court passed the order on a plea moved by Shayee Nisha, challenging rejection of her application for maternity leave by the principal district judge, Villupuram. CHENNAI: A govt order (GO) issued by the Tamil Nadu restricting maternity leave for third pregnancy to 12 weeks is unjustifiable and against the law settled by the Supreme…
In April, nine police personnel were sentenced to death for the custodial murder of Jayaraj and Bennix R S RaveendhrenOn April 6, nine police personnel were sentenced to death by the Madurai additional district & sessions court for the custodial murder of father and son, Jayaraj and Bennix, in Sathankulam in 2020. The victims, who…
