Banking

Canara Bank reported a standalone net profit of Rs 5,175 crore for the second quarter, up about 8% year on year, with net interest income jumping 20%. Treasury losses weighed on the overall result. Indian investors are tracking the stock as earnings season continues, with Canara Bank among a batch of companies including BHEL and Groww reporting this week.

A study resource compiling 300 important objective questions for Class 12 Biology is drawing wide attention among students, particularly in Bihar where 'VVI' (very important questions) compilations are a popular exam-preparation format. The material covers the full Biology syllabus in Hindi and English, and is being shared heavily ahead of board examinations as pupils look for focused revision tools.

US Treasury Secretary Scott Bessent has issued a list of demands directed at the World Bank. According to the claims, these include ending the bank's prohibition on financing upstream oil and gas projects, putting resources into deep-sea critical minerals mining, and reforming its procurement policies. The demands signal a push to steer the institution toward fossil fuel and mining finance.

Major banks are seeking to sell on the debt they recently underwrote to finance AI data center construction, according to a report by Startup Fortune. The move suggests lenders are eager to reduce their exposure to massive loans tied to the AI infrastructure boom, after underwriting financing for data center projects. Observers see it as a sign that Wall Street may be growing cautious about how much risk it wants to hold from AI-related buildouts.

Six major global banks have launched OSERA, an initiative in which they jointly fund the maintenance and patching of open source software they all rely on. The idea is to share the cost of fixing vulnerabilities in widely used components rather than each bank paying separately, improving security across the financial sector.

Banks arranged roughly $38 billion in debt financing tied to artificial intelligence companies and data center expansion, but offloading that debt to investors proved slow, with sales taking months to complete. The financing surge reflects the enormous capital demands of the AI boom, while the slow placement highlights investor caution about the sector's borrowing.

Colorado has released interim draft rules governing automated decision-making technology and chatbot safety, with particular implications for financial services institutions. The draft updates the state's regulatory approach to artificial intelligence used in consumer-facing contexts, and compliance teams in banking and finance are reviewing how the changes will affect their obligations under the state's emerging AI framework.

Ukrainian drones have hit a major Sberbank data center near Balakovo in Russia's Saratov region, reportedly the fourth Russian data center struck in recent attacks. The strikes target infrastructure backing Russia's largest bank, raising questions about the vulnerability of Russian financial and digital infrastructure to long-range drone attacks as the war continues.

Data centers are increasingly being hit in conflicts across Ukraine, Russia and the Middle East, according to reporting by The New York Times. The piece highlights how critical digital infrastructure has become a military target, with strikes on server facilities disrupting communications, banking and government services, and underscoring how modern wars now extend into cyberspace and physical tech assets.