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Public Sector Banks (PSB) News
Public Sector Banks (PSB)
Axis Bank informs it has Nil outstanding from Go Airlines
Wed, May 03, 2023
According to Reuters, Go First owes Rs 652.1 crore ($798 million) to Central Bank of India (CBI.NS), Bank of Baroda, IDBI Bank, and Deutsche Bank are among Go First's financial creditors.
Finance Ministry asks PSU banks to do proper monitoring of loans
Mon, Mar 27, 2023
During the two hours meeting with MDs and CEOs of PSBs, an open discussion was held on the global scenario amid the failure of the Silicon Valley Bank (SVB) and Signature Bank (SB), along with the issues leading to the crisis in Credit Suisse.
LIC's debt exposure in Adani group companies dips marginally to Rs 6,183 crore as of March 5
Mon, Mar 13, 2023
Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its debt exposure to Adani Group of Companies, was Rs 6,347.32 crore and Rs 6,182.64 crore, as on December 31, 2022, and March 5, 2023, respectively".
Budget 2023: Govt may not announce capital infusion for public sector banks amid improved financial health of lenders
Sun, Jan 22, 2023
In the first half of FY23, the cumulative net profit of all PSBs increased by 32 per cent to Rs 40,991 crore. The combined profit more than doubled to Rs 66,539 crore in 2021-22 despite COVID-19 pressure.
EMIs on loans likely to rise as this public sector bank hikes lending rate by up to 0.35%
Tue, Jan 10, 2023
The Reserve Bank of India has increased repo rates by 2.25 per cent since May last year. The benchmark interest rate now stands at 6.25 per cent after the latest round of repo rate hike of 35 basis points on December 7, 2022.
Turnaround of Public Sector Banks: A story from doom to bloom; a journey towards Rs 1 lakh cr profit
Wed, Jan 04, 2023
The highest amount of net loss was registered in 2017-18 at Rs 85,370 crore, followed by Rs 66,636 crore in 2018-19; Rs 25,941 crore in 2019-20; Rs 17,993 crore in 2015-16 and Rs 11,389 crore in 2016-17.
RBI Governor Shakitkanta Das to meet public sector banks' CEOs on Wednesday; to discuss slow deposit growth
Tue, Nov 15, 2022
As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago.
Govt initiates process for filling posts of independent directors in PSBs, FIs
Sun, Oct 10, 2021
The government has initiated the process of filling about 100 vacancies of independent directors in public sector banks and financial institutions to meet regulatory norms of corporate governance.
Budget 2019: PSB ETFs coming? After, Bharat 22, CPSE Exchange Traded Funds, a new disinvestment pattern can emerge
Wed, Jul 03, 2019
Disinvestment target has been on full swing by Indian government, with stake sales taking place in various state-owned companies either by IPOs, OFS, buybacks and others.
Budget expectations, 3 GST tax rates to digital age - a freewheeling interview with Raj Nair, President, IMC CC&I
Tue, Jun 18, 2019
Nair not only spoke about Budget 2019, but also highlighted key pointers for the Indian economy.
PSU banks plan rationalisation of another 69 overseas offices
Sun, Jan 06, 2019
Following the review, as many as 35 overseas operations were closed while 69 are under process or being considered for rationalisation, sources said.
Finance Ministry likely to infuse Rs 28,615 crore in PSBs today: Sources
Thu, Dec 27, 2018
The seven PSBs include United Bank of India, Central Bank of India, Bank of India, UCO Bank, Oriental Bank of Commerce (OBC), Bank of Maharashtra and Syndicate Bank.
Bank strike: Strike hits customers badly, deposits, withdrawals, cheque clearances affected
Sat, Dec 22, 2018
Most of the banks had already informed their customers about the one-day strike, called by AIBOC, and its impact on their normal banking operations.
United Bank of India share sale to employees flops, gets just 61% subscription
Mon, Sep 17, 2018
Shares issued under the scheme are locked in for a year. The share price of the bank tanked over 39% from December 2017, when the sale was approved by the bank’s Board, to July when the pricing of ESPS was announced.
Banking sector outlook to stay negative till capital positions
Mon, Aug 13, 2018
The outlook for the country's banking sector is likely to remain negative until its capital position strengthens in proportion to the bad loans and weak financial performances, according to Fitch Ratings.
Treasury gains may support Indian banks to compensate asset quality
Mon, Dec 12, 2016
Nitin Aggarwal and Renish Patel analysts of Antique Stock Broking firm said, “Treasury gains will add upto 6% in operating earnings of major public sector undertakings (PSU) banks over second half of current fiscal year (2HFY17), assuming 50 basis point reduction in interest rate across yield curve.”
Do they really want to solve "bad loan" problem?
Tue, Oct 11, 2016
N. S. Vishwanathan, Deputy Governor of RBI said, "If banks continue to remain saddled with huge NPAs for a long time, it would make them risk averse and choke the lending for economic activities in general. "
Banking sector worry: Bad loans rise 15% in June
Tue, Oct 11, 2016
Reserve Bank of India's (RBI) data has revealed that stressed loans have crossed $ 138 billion (approx Rs 8,71,746 crore) in June 2016, an increase of 15% in just six months, data accessed by Reuters showed.
Treasury gains to aid banking sector’s profitability in Q2
Mon, Oct 10, 2016
Kotak Institutional Equities Research said, "Banks are expected to report 15% yoy decline in earnings on the back of accelerating revenue growth of 18% yoy led by higher treasury income as they continue to provide for bad loans (82% yoy) for NPLs."
Private sector banks outshine state-run lenders in April-June
Sun, Aug 21, 2016
A venomous snake called bad loans has been haunting Indian banks, especially the public sector lenders for a few years now.