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PSU Banks News
PSU Banks Merger: Undeterred despite coronavirus! Modi government is going ahead with mega consolidation
Sun, Mar 29, 2020
Undeterred by the spread of Coronavirus impact and Covid-19, the Modi government is going ahead with the plan to consolidate public sector banks.
PSU banks may see enhanced profits, says Chief Economic Advisor Krishnamurthy Subramanian
Sun, Feb 09, 2020
The PSU Banks may see enhanced profits with write-back of some of the loans provisions in their balance sheets on account of the IBC resolutions and they must now tap the market themselves instead of looking for recapitalisation, Chief Economic Advisor Krishnamurthy Subramanian has said.
Modi government to take a decision on the merger of PSU banks: Sources
Fri, Aug 16, 2019
Modi government to take a decision on the merger of PSU banks. Watch this video to know more.
Planning ETF investment? Finance Ministry to launch exchange-traded fund this fiscal - Check details
Sun, May 26, 2019
The government currently has two exchange-traded funds -- CPSE ETF and Bharat-22 ETF -- listed on domestic exchanges. ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Finance Ministry to take call on capital infusion in PSU banks after September
Fri, May 03, 2019
In February 2019, the government had announced capital infusion of Rs 48,239 crore into 12 public sector banks to help them maintain regulatory capital requirements and finance growth plans.
Finance Ministry to take call on bank recap after September
Fri, May 03, 2019
The remaining PCA (Prompt Corrective Action) banks will also require fresh funds to come out of the Reserve Bank of India`s (RBI) framework for weak banks. But for this, the banks would have to match the performance parameter targets required for PCA removal and would have to show improved performance.
Vijay Mallya: Can save Jet Airways by my money
Tue, Mar 26, 2019
Vijay Mallya tweeted and said that why don't PSU banks use his money to save Jet Airways. Watch this video to know more..
PSU banks recover Rs 98,000 cr in first 3 quarters of FY19
Thu, Feb 28, 2019
The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year, he said at an event on banks' reforms journey.
Government may launch exchange traded fund of PSU bank stocks next fiscal
Tue, Feb 19, 2019
The government has set a disinvestment target of Rs 90,000 crore for 2019-20, up from Rs 80,000 crore in 2018-19. So far this fiscal, the government has raised Rs 53,558 crore from CPSE stake sale and share buyback.
Finance ministry's meet with heads of PSU banks before Budget
Mon, Jan 28, 2019
Finance ministry's meet the CEOs of public sector banks to take a stock of the banking sector, and discuss ways to improve their financial health.
Bank Recruitment: These Public sector banks set to hire 1 lakh people in FY19
Mon, Dec 17, 2018
The number is more than double the number the banks hired in the last two years, according to the Team Lease estimates. Notably, PSU banks collectively hired 95,000 in last two years for positions like clerk, management trainees and probationary officers, the ET said, adding that this didn't include lateral hirings.
Arun Jaitley on bad debt, PSU banks; 5 points
Tue, Sep 25, 2018
Finance Minister Arun Jaitley has said that bad debts or NPAs in the banking system are on the decline as recoveries of unpaid loans have picked up, while speaking to reporters after the annual review meet with top PSU bankers.
Why Modi govt ordered this massive move today that has huge consequences for India
Mon, Sep 17, 2018
This attack by PM Modi against the crippling problem shows his government's intent on the shocking banking crisis. In fact, FM Jaitley revealed today that the bank NPA crisis was not Rs 2.5 lakh cr, but a mind-blowing Rs 8.5 lakh cr!
Anil Singhvi's Market Strategy September 17: FMCG is positive; PSU Banks, Metals are negative
Mon, Sep 17, 2018
Positive foreign institutional investors (FII), neutral global outlook, domestic institutional investors (DIIs), and future and option (F&O) cues suggest that the short-term trend of the Indian market will remain neutral on September 17, 2018. However, the traders are advised to be cautious while trading in the market today.
India to get sovereign rating upgrade? Here is what FinMin wants Fitch to do
Tue, Mar 06, 2018
The government will tomorrow pitch for a sovereign rating upgrade with global agency Fitch, highlighting reform push in taxation and PSU banks and its plans to gradually lower government debt.According to sources, representatives from Fitch are scheduled to meet Chief Economic Advisor Arvind Subr
PSU banks, metals among 4 reasons why Sensex tanked over 400 points
Mon, Feb 19, 2018
The S&P BSE Sensex and the Nifty50 extended losses on Monday as the session progressed even as global cues remained supportive. The 30-share Sensex slipped below its key psychological mark of 34,000, while the Nifty50 was heading towards its crucial 10,300 mark.
Sensex snaps 7-day losses; key reasons behind smart pullback
Thu, Feb 08, 2018
The benchmark indices rose nearly 1 per cent on Thursday, snapping seven sessions of fall, as market heavyweights such as Infosys and Housing Development Finance Corp helped the indices end their longest spell of losses since September.
Recap fails to lift bank stocks, but these lenders look set to gain big
Thu, Jan 25, 2018
Eleven weak banks facing prompt corrective action (PCA) are to be given a total of Rs 52,311 crore to maintain their minimum capital requirement, while nine strong banks will get Rs 35,828 crore.
Sensex, Nifty trade in red; PSU banks fall post recap announcement
Thu, Jan 25, 2018
In the broader market, the BSE Midcap was marginally higher, while the BSE Smallcap was little changed.
PSBs write off Rs 55,356 crore in first half of FY18 to clean balance sheet
Mon, Dec 04, 2017
As PSBs loan write-off increased by nearly 54% in the first six months of fiscal FY18, it may reach by Rs 1 lakh crore by end of the financial year if the trend continues.