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Government announces plan to merge 10 PSBs
Sat, Aug 31, 2019
At 4 PM on Friday, Union Finance Minister Nirmala Sitharaman announced a major bank merger exercise. Post-this, ten public sector banks will be amalgamated to four taking the total number of public sector banks to 12 from 27 banks in 2017.
Sensex, Nifty end flat with negative bias; PSBs, IT slip
Thu, Jun 13, 2019
Markets ended flat on Thursday with gains being capped by banking and auto stocks. Weak global cues and rising retail inflation, too, contributed to a lackluster trade. The S&P BSE Sensex ended 15 points, or 0.04 per cent, lower at 39,741 levels dragged by select blue-chip counters like IndusInd Bank, Reliance Industries, YES Bank and Infosys. While PowerGrid and M&M were the top gainers, YES Bank and IndusInd slipped the most.
Fund infusion into PSBs not sufficient to support lending growth: Fitch
Wed, Feb 27, 2019
The finance ministry last week announced infusion of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.
Public Sector Banks: Capital requirement to shrink to about Rs 25,000 cr in FY20, says Moody's Investors Service
Thu, Feb 21, 2019
"The latest government capital infusions will improve the solvency of the banks, and significantly boost their provisions for non-performing loans. However, large volumes of legacy problem loans have yet to be resolved," it added.
Nifty PSU Bank Index outperforms after Rs 48,239 cr fund infusion
Thu, Feb 21, 2019
Among the other PSBs were Bank of Maharashtra, Bank of India, Indian Overseas Bank (IOB), United Bank, UCO Bank, Central Bank of India, Syndicate Bank including non-PCA banks -- PNB, Union Bank, Andhra Bank and Syndicate Bank -- so as to help them avoid the restrictions.
Recapitalisation: Weak PSU banks infusion rockets by another Rs 41,000 crore
Fri, Dec 21, 2018
The Government will infuse Rs 41,000 crore into cash-deprived public sector banks (PSB's) in order to recapitalize the credit providers which is projected to heighten the lending capability of the state-owned banks.
PSBs not under PCA are set to grow faster than even private banks
Wed, Jul 25, 2018
The non-PCA PSBs advances market share is expected to be maintained at 50-51%
Allahabad Bank mulls reducing stakes in JV, associate cos to trim bad assets
Thu, Jul 12, 2018
Public sector Allahabad Bank today said it is mulling to off-load non-core assets like shareholding in various joint ventures and sell immovable properties to shore up its capital base. In compliance with government directives under PSBs Reform Agenda, the bank has initiated various steps to leve
NPAs to see reduction of Rs 15K cr in Q1 on change in NPA norms for small biz: Rajiv Kumar
Thu, Jun 21, 2018
Bad loans worth Rs 15,000 crore will be wiped off the banking system with their reversal into standard accounts in the June quarter following new norms for differential treatment of defaults by small and mid-sized businesses.
PSBs decide on unhindered credit flow for genuine firms
Tue, Jun 19, 2018
In a move to ensure that credit flow to domestic industry is not hindered by the massive non-performing assets (NPAs), or bad loans, accumulated in the Indian banking system, state-run banks on Tuesday decided to take up the genuine credit needs of companies through a two-stage process.
Sensex, Nifty rebounds on Govt's boost of capital spend
Sat, Oct 28, 2017
Stocks: Equities marked a chain of record smashing sessions during the week trade, with benchmark Sensex crossing the 33-k mark on a closing basis, while the broader Nifty breaching above the psychological 10,300-level.
10 things you need to know about India's infrastructure investments, PSB recapitalisation
Tue, Oct 24, 2017
While announcing the roadmap leading to growth in the economy the government said macro economic fundamentals were strong and fiscal deficit target of 3.2% of GDP would not be breached.
Finance Ministry asks PSBs to explore acquisition of smaller banks
Sun, Jun 18, 2017
The finance ministry has asked four large PSU lenders to explore opportunities for acquisition of small and mid-sized banks with a goal to create global sized lenders, sources said.
Finance Ministry finalising fund infusion for PSBs to exceed Rs 25,000 crore
Sun, Jan 15, 2017
The Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week based on the request of various lenders which have been impacted by demonetisation amid rising bad loans.
RBI's Financial Stability Report: Banks continue to face significant levels of stress
Thu, Dec 29, 2016
Reserve Bank of India (RBI) on Thursday released its Financial Stability Report (FSR) December 2016 where it said that banks, particularly public sector banks, continue to face significant levels of stress.
Govt fully committed to supporting banks, says FM Jaitley
Mon, Jun 06, 2016
Jaitley further said, "Banks should be empowered and protected so that they can reach settlements on bad loans."