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Indian Bank announces launch of 10 Start-up Cells in celebration of its 117th foundation day Indian Bank, a leading Public Sector Bank, has opened 10 innovative Start-up Cells across different locations/ Centres on the eve of 77th Independence Day and 117th foundation day. Shri. S L Jain, MD & CEO, Indian Bank inaugurated the Start-Up cell at Chennai Centre and virtually inaugurated start-up cell across major start up hubs of the country viz. Ahmedabad, Bengaluru, Coimbatore, Delhi, Gurgaon, Guwahati, Hyderabad, Kanpur and Mumbai. Under the I...
Indian Bank announces launch of 10 Start-up Cells in celebration of its 117th foundation day
Indian Bank announces launch of 10 Start-up Cells in celebration of its 117th foundation day
Source: PR Agency
15/08/2023 9:00:34 AM
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision Public sector banks are up in trade but private sector banks are down following RBI's decision to hike CRR provision to curb liquidity. Among private sector banks, Indusind Bank is top loser in Sensex, down 1.5 per cent. ICICI Bank, Axis Bank and HDFC Bank are also trading down. On the other hand, PSU banks are flying. Indian Overseas Bank is up more than 11 per cent, Central Bank of India is up more than 7 per cent, UCO Bank is up more than 5 per cent, Punjab and Sind Bank is up 4....
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision
Source: IANS
11/08/2023 2:09:29 PM
Government urges public sector banks to expedite target achievement for current fiscal under financial inclusion schemes The government on Thursday urged public sector banks (PSBs) to achieve the targets allocated to them under the various financial inclusion schemes for the current fiscal at the earliest. In a review meeting undertaken by Banking Secretary Vivek Joshi with heads of PSBs, the special focus was on the progress made under the ongoing Jan Suraksha campaign of Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana in gram panchayats of the country, being held from April ...
Government urges public sector banks to expedite target achievement for current fiscal under financial inclusion schemes
Government urges public sector banks to expedite target achievement for current fiscal under financial inclusion schemes
Source: IANS
21/07/2023 9:15:27 AM
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor Highlighting the good performance of the Indian banking system despite various adverse global developments, the Reserve Bank of India (RBI) Governor Shaktikanta Das has stressed that it is in times like these, banks need to be extra careful and vigilant. He also emphasized the need for MD & CEOs to pay special attention to strengthening the governance in the banks and focus on the tripod of banking stability consisting of compliance, risk management and audit functions.  The Gover...
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor
Source: Accord Fintech
12/07/2023 1:26:03 PM
SCBs Remain Adequately Capitalised CareEdge Ratings Synopsis • Scheduled Commercial Banks’ (SCBs) net profit grew at 52.1% y-o-y for Q4FY23 due to robust growth in PreProvisioning Operating Profit (PPOP) and supported by lower requirement of provisions. • Return on Assets (RoA, annualised) of SCBs improved by 36 bps y-o-y to 1.36% in Q4FY23 and it has been generally on an uptrend since Q1FY21. • All SCBs have maintained their Capital Adequacy Ratio (CAR) greater than the minimum required level for Q4FY23. The medi...
SCBs Remain Adequately Capitalised CareEdge Ratings
SCBs Remain Adequately Capitalised CareEdge Ratings
Source: PR Agency
30/06/2023 6:07:26 PM
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge Synopsis • Gross Non-Performing Assets (GNPAs) of Scheduled Commercial Banks (SCBs) reduced by 23.5% y-o-y to Rs.5.5 lakh crore as of March 31, 2023, due to lower slippages, “steady recoveries & upgrades” and write- offs. The GNPA ratio of SCBs reduced to 3.96% as of March 31, 2023, from 6.04% over a year ago. Robust growth in advances of 16.5% y-o-y is also supporting this reduction. • Net Non-Performing Assets (NNPAs) of SCBs reduced by 34.0% y-o-y to Rs.1.3 ...
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge
Source: PR Agency
30/06/2023 2:23:33 PM
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge Synopsis Bank credit growth maintained a double-digit growth and continued to outpace deposit growth in FY23. The personal loans segment has remained the largest segment, along with NBFCs, while the industrial sector reported muted growth. The private sector banks (PVBs) have continued to outpace the public sector banks (PSBs). The medium-term prospects look promising with rising personal loans along with NBFC borrowings and a substantial buffer for provisions. Additionally, given that in ...
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge
Source: PR Agency
29/06/2023 3:56:11 PM
NIrmala Sitharaman seeks identification of credit deficient dists for financial inclusion. Finance Minister Nirmala Sitharaman on Monday suggested identification of credit-deficient districts in each state and carrying out special credit outreach camps there. She also suggested holding a special district level review committee meeting between July 15 to August 15 and inviting MPs from such districts to further brainstorm on ideas of financial inclusion by opening Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. She said this while chairing a meeting of a consultative committe...
NIrmala Sitharaman seeks identification of credit deficient dists for financial inclusion.
NIrmala Sitharaman seeks identification of credit deficient dists for financial inclusion.
Source: IANS
20/06/2023 9:32:46 AM
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs India Ratings and Research (Ind-Ra) in its latest report has said that private sector banks' slippages and write-offs from loans restructured after the COVID-19 pandemic are nearly double than that of public sector banks (PSBs). It said private sector banks have seen slippages and loan write-offs at 44 per cent, as against 23 per cent in case of PSBs.  The domestic rating agency analysed annual results of lenders for FY23. It found that the peak of restructured assets in bank book...
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs
Source: Reuters
19/06/2023 11:44:57 AM
India says banking system sheltered from wider sector turmoil India's Financial Stability and Development Council (FSDC) considers the country’s banking system to be protected from any spillover from issues in the sector globally, the country's economic affairs secretary said on Monday. Ajay Seth was speaking with reporters after the meeting of FSDC, which is chaired by the finance minister and brings together the leading regulators, including the country’s central bank. "We see that the global financial situation is daunt...
India says banking system sheltered from wider sector turmoil
India says banking system sheltered from wider sector turmoil
Source: Reuters
9/05/2023 9:17:50 AM
India central bank likely buying dollars via public sector banks traders The Indian central bank was likely buying dollars via public sector banks on Wednesday to ensure that the rupee remained in a narrow range, traders told Reuters. The rupee was at 81.86 to the U.S. dollar at of midday, compared with a session-high of 81.7650. The Reserve Bank of India (RBI) "was at it again", a trader at a private sector bank said. Its difficult to figure out the logic on why RBI is present at current levels, "other than the usual of adding (fx) reserve...
India central bank likely buying dollars via public sector banks traders
India central bank likely buying dollars via public sector banks traders
Source: Reuters
3/05/2023 1:17:33 PM
While most global equity markets are rising 5-20% in 2023, India is flat The Nifty, after a weak run in the last four months, bounced back in April with 4.1 per cent MoM gain, Motilal Oswal Financial Services said in a report. Notably, the index was extremely volatile and swung around 776 points before closing 705 points higher. Nifty50 has been underperforming the emerging markets and the world indices in CY23YTD amid varied global macro headwinds viz., inflation, interest rates, and currency, the report said. While most of the global equity markets are ris...
While most global equity markets are rising 5-20% in 2023, India is flat
While most global equity markets are rising 5-20% in 2023, India is flat
Source: IANS
3/05/2023 11:35:24 AM
Quote on Fixed Deposit rates outlook By Cyril Charly, Geojit Financial Services Below Quote on PSBs vs SFBs Fixed Deposit rates from Cyril Charly, Research analyst at Geojit Financial Services With liquidity becoming tighter and credit demand remaining strong, lending institutions are in the race to acquire the maximum deposits. Small Finance Banks are offering fixed deposit rates that are 75-100 basis points higher than those offered by Public Sector Banks (PSBs) and private banks. This has helped SFBs grow their deposit book at three times the pace of commercia...
Quote on Fixed Deposit rates outlook By Cyril Charly, Geojit Financial Services
Quote on Fixed Deposit rates outlook By Cyril Charly, Geojit Financial Services
Source: Geojit Financial Services
27/04/2023 6:51:15 PM
Government directs PSU banks to ensure issuance of Kisan Credit Cards for fisheries, animal husbandry sectors The government on Thursday directed public sector banks to ensure issuance of kisan credit cards for animal husbandry and fisheries sectors. They have also been asked to scale up the account aggregator ecosystem by the finance ministry, which reviewed the performance of public sector banks on Thursday, vis-a-vis their progress in implementation of various social security schemes of the Centre. Banking Secretary Vivek Joshi, who undertook the day-long meeting with heads of public sector ...
Government directs PSU banks to ensure issuance of Kisan Credit Cards for fisheries, animal husbandry sectors
Government directs PSU banks to ensure issuance of Kisan Credit Cards for fisheries, animal husbandry sectors
Source: IANS
14/04/2023 8:59:54 AM
Central Government's total gross liabilities increase marginally by 2.6% in Q3 FY 2022-23 The Central government's total gross liabilities -- including liabilities under the 'Public Account' -- have increased marginally to Rs 1,50,95,970.8 crore at end-December 2022 from Rs 1,47,19,572.2 crore in end-September, a report released on Saturday said. According to the quarterly report released by the Department of Economic Affairs, this represented a quarter-on-quarter increase of 2.6 per cent in Q3 FY2022-23. Public debt accounted for 89.0 per cent of total gross lia...
Central Government's total gross liabilities increase marginally by 2.6% in Q3 FY 2022-23
Central Government's total gross liabilities increase marginally by 2.6% in Q3 FY 2022-23
Source: IANS
1/04/2023 2:29:18 PM
Finance Minister Nirmala Sitharaman to meet public sector banks chiefs on March 25 Amid the failure of banks in the US and the liquidity crisis being faced by Credit Suisse, Finance Minister Nirmala Sitharaman is expected to meet chiefs of public sector banks on March 25. This would be the first meeting of the Finance Minister with banks' chiefs after the presentation of the budget, where, according to sources, the discussion is likely to be on the areas highlighted by the budget. Sitharaman is also likely to review the credit flow to key sectors like agriculture,...
Finance Minister Nirmala Sitharaman to meet public sector banks chiefs on March 25
Finance Minister Nirmala Sitharaman to meet public sector banks chiefs on March 25
Source: IANS
23/03/2023 4:43:59 PM
India central bank likely buying dollars in spot, paying forwards The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters. The rupee was at 81.90 to the dollar, off the day's high of 81.7750 and compared with 82.0550 in the previous session. Two large public sector banks bought dollars near the 81.80 levels, likely for the RBI, traders said. Meanwhile, a Germany-based bank has persistently been on the offer on the p...
India central bank likely buying dollars in spot, paying forwards
India central bank likely buying dollars in spot, paying forwards
Source: Reuters
9/03/2023 12:57:31 PM
Deposit mobilisation, higher provisions challenge for banking in FY24: India Ratings India Ratings and Research in its latest report has said mobilising required deposits without compromising on margins and the heightened provisions as the system shifts to a new model of loan provisioning will be the key challenges for Indian banking in FY24. Maintaining its neutral outlook on the important sector for the economy for the upcoming fiscal year, India Ratings said the key financial metrics are likely to improve further in FY24 on stronger balance sheets, higher credit demand and...
Deposit mobilisation, higher provisions challenge for banking in FY24: India Ratings
Deposit mobilisation, higher provisions challenge for banking in FY24: India Ratings
Source: Accord Fintech
2/03/2023 10:32:07 AM
Banks' credit growth slows down to 16.8% in Q3FY23: RBI data The Reserve Bank of India (RBI)’s latest data showed that banks' credit growth slowed down to 16.8 percent in the Q3 (October-December) of FY23 from 17.2 percent in the preceding quarter. In the year-ago period, bank credit grew at 8.4 percent. Growth in credit was led by bank branches in metropolitan centres, which account for nearly 60 per cent of the total credit by SCBs and recorded 17.2 per cent rise (y-o-y) in lending; urban, semi-urban and rural centres also recorded double d...
Banks' credit growth slows down to 16.8% in Q3FY23: RBI data
Banks' credit growth slows down to 16.8% in Q3FY23: RBI data
Source: Accord Fintech
28/02/2023 1:19:40 PM
Kotak Mahindra Bank rises on opening 100 gold loan branches in FY23 Kotak Mahindra Bank is currently trading at Rs. 1719.00, up by 21.70 points or 1.28% from its previous closing of Rs. 1697.30 on the BSE. The scrip opened at Rs. 1698.80 and has touched a high and low of Rs. 1719.55 and Rs. 1689.70 respectively. So far 22333 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1997.00 on 18-Nov-2022 and a 52 week low of Rs. 1630.00 on 30-Jun-2022. Last one week high and low of the sc...
Kotak Mahindra Bank rises on opening 100 gold loan branches in FY23
Kotak Mahindra Bank rises on opening 100 gold loan branches in FY23
Source: Accord Fintech
27/02/2023 1:25:12 PM
Government to meet bank heads to discuss emergency credit line guarantee scheme The government has called a meeting of public sector banks' heads as well as those of four private sector banks, namely HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank, on February 22 to review the emergency credit line guarantee scheme (ECLGS), official sources said. The meeting would discuss the possibilities of using the schemes to help businesses impacted by the Coronavirus pandemic, the sources said. To ensure that the ECLGS is helpful for such businesses, the meeting ...
Government to meet bank heads to discuss emergency credit line guarantee scheme
Government to meet bank heads to discuss emergency credit line guarantee scheme
Source: IANS
20/02/2023 9:25:13 AM
Exposure to top 10 borrowers from Scheduled Commercial Banks is Rs 12,71,604 cr The total exposure to top 10 borrowers from Scheduled Commercial Banks as reported in the Central Repository of Information on Large Credits (CRILC) database is Rs 12,71,604 crore, informed the Union Ministry of Finance in a written reply in the Lok Sabha on Monday. A large part of this exposure is from Public Sector Banks amounting to Rs 8,10,941 crore and from Private Sector Banks it is Rs 3,70,973 crore. As per inputs received from the RBI, in order to protect banks from risk, it has...
Exposure to top 10 borrowers from Scheduled Commercial Banks is Rs 12,71,604 cr
Exposure to top 10 borrowers from Scheduled Commercial Banks is Rs 12,71,604 cr
Source: IANS
6/02/2023 4:44:22 PM
Bank credit growth accelerates to 18% in September 2022 Reserve Bank released its web publication entitled 'Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), September 2022. Bank credit growth (y-o-y) accelerated further to 18.0 per cent in September 2022 as compared with 14.0 per cent a quarter ago and 5.8 per cent a year ago. Private sector banks continued to outpace public sector banks and have increased their share in total credit to 38.4 per cent in September 2022 from 37.5 a year ago an...
Bank credit growth accelerates to 18% in September 2022
Bank credit growth accelerates to 18% in September 2022
Source: Dion Global Solutions Ltd
28/12/2022 10:03:36 AM
India Strategy : Indian PSUs - scripting a comeback story By Motilal Oswal Financial Services Indian PSUs – scripting a comeback story Profits triple over FY20-22 after flattish FY12-20; PSU Banks lead the charge * PSUs – a force to reckon with! Indian PSUs have undergone a topsy-turvy journey in the last decade despite being formidable franchises with dominant market shares of 60%-80% in Oil & Gas (O&G), Financials, Utilities, Mining and Heavy Engineering. * After years of underperformance, PSU Index has outperformed Nifty in CY22. In this report, we anal...
India Strategy : Indian PSUs - scripting a comeback story By Motilal Oswal Financial Services
India Strategy : Indian PSUs - scripting a comeback story By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
22/12/2022 12:58:07 PM
Only about 13% recovery in written-offs loans during last five years: Government Only about 13 per cent of the loans written off by the scheduled commercial banks (SCBs) during the last five financial years have been recovered, the Parliament was told on Tuesday. Government data showing details of loans written off by scheduled commercial banks (SCBs) disclosed that total Rs 10,09,510 crore were written off during the last five financial years (FYs), the Finance Minister told the Rajya Sabha in a written reply. The data on recovery of the written off loans said that...
Only about 13% recovery in written-offs loans during last five years: Government
Only about 13% recovery in written-offs loans during last five years: Government
Source: IANS
14/12/2022 10:02:01 AM
India emerged as leading market in past 1 year: Motilal Oswal report India has emerged as a standout market over the last 12 months, a research report titled "Bulls and Bears" by Motilal Oswal Financial Services Limited has said. As global market-cap declined by 16.8 per cent ($19.9 trillion) over the last 12 months, India's market-cap rose 3.8 per cent, the report noted. Barring Indonesia and India, all key global markets saw a decline in market-cap over the last 12 months, it added. The research report further said that all major secto...
India emerged as leading market in past 1 year: Motilal Oswal report
India emerged as leading market in past 1 year: Motilal Oswal report
Source: IANS
7/12/2022 10:04:08 AM
`Naya J&K`: Financial institutions, government departments join hands to transform rural economy The government reaching out to under-banked sectors in 'Naya Jammu and Kashmir' has transformed the very concept of the rural economy. The focus has been on making the financial institutions, including public sector banks, vibrant. The government departments are working in close coordination with each other and the banks to ensure that the seamless credit flows to address the needs of farmers and the youth for their capacity building and entrepreneurship development. Till...
`Naya J&K`: Financial institutions, government departments join hands to transform rural economy
`Naya J&K`: Financial institutions, government departments join hands to transform rural economy
Source: IANS
6/12/2022 4:28:15 PM
Parliamentary panel report recommends 6-year term for RBI Governor In what could be a major step towards reforming the Reserve Bank of India (RBI), a report prepared by the Parliamentary Standing Committee on Finance is learnt to have suggested a six-year term for the central bank governor and increasing the number of deputy governors from four to eight. According to highly placed sources, the Parliamentary panel which is headed by BJP MP Jayant Sinha has prepared a comprehensive report on RBI, suggesting sweeping reforms in it. The report is likely to...
Parliamentary panel report recommends 6-year term for RBI Governor
Parliamentary panel report recommends 6-year term for RBI Governor
Source: IANS
6/12/2022 9:47:52 AM
Will RBI get more teeth to regulate PSU banks? This has obviously made things lopsided when it comes to governance of Indian banks. For instance the Reserve Bank of India (RBI) can issue guidelines to private banks or foreign banks, but not to the PSBs. This anomalous duality may well be under review now with a course correction on the anvil. Can the Standing Committee on Finance provide answers to this conundrum? A throwback to this anomaly is when former RBI Governor Urjit Patel in a speech titled 'Banking Regulatory Powers Shoul...
Will RBI get more teeth to regulate PSU banks?
Will RBI get more teeth to regulate PSU banks?
Source: IANS
5/12/2022 3:17:25 PM
Fund infusion, asset quality review measures helped script turnaround story The profits recorded by public sector banks (PSBs) in the September quarter of the current financial year seem to resemble the box office figures of a Hindi blockbuster film. To recap, all the 12 PSBs combined, declared a net profit of Rs 25,685 crore in the quarter ended September 30 and the aggregate net profit for the first half of 2022-23 was Rs 40,991 crore. This was up by 50 per cent and 31.6 per cent, respectively, on a year-on-year basis. Let us now analyse some of the key reaso...
Fund infusion, asset quality review measures helped script turnaround story
Fund infusion, asset quality review measures helped script turnaround story
Source: IANS
19/11/2022 1:49:39 PM
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit It looks like sunshine days for the Indian banking sector after having struggled with a seemingly never-ending gloom of rising non-performing assets (NPAs) and the Covid-19 pandemic, which hit their profits hard. The September quarter results of public sector banks (PSBs) seem to have brought cheer for the Indian banking sector with all the major 12 PSBs recording net profits worth Rs 25,685 crore during the period under review. On September 7, Finance Minister Nirmala Sitharaman had la...
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit
Crunching Numbers: 12 PSBs end September quarter notching up Rs 25K+ cr net profit
Source: IANS
19/11/2022 1:43:52 PM
PSB stocks on 52-week high riding on record profits, double-digit loan growth Public sector bank stocks have rallied more than 25 per cent post their stellar Q2 financial results with net profit jumping by 50 per cent. Union Bank of India stock price is up by 60.8 per cent over the last month among the PSU bank stocks. Bank of India is up by 56.1 per cent during the month while UCO Bank is up by 32.4 per cent. The Nifty PSU Bank index made a new 52-week high on Friday. The index was up by 21.35 per cent last month. Amber Pabreja, Founder and CEO of Trendlyne, ...
PSB stocks on 52-week high riding on record profits, double-digit loan growth
PSB stocks on 52-week high riding on record profits, double-digit loan growth
Source: IANS
19/11/2022 12:34:30 PM
Happy days now, but challenging times ahead for public sector banks Arbitrage between the lending and deposit rates, higher credit demand, and lower loan provisions resulted in public sector banks (PSB) posting handsome profits during Q2FY23 and H1FY23, say experts. However, the happy times for the government banks may not continue for much long as competition will soon emerge for deposits, and loans, which, in turn, would increase the cost of funds and reduce the margins, the experts added. Further maintaining good employee relations by the PSB managem...
Happy days now, but challenging times ahead for public sector banks
Happy days now, but challenging times ahead for public sector banks
Source: IANS
19/11/2022 12:17:19 PM
Many PSBs saddled with weak assets, high credit costs: S&P Global Ratings While the government-owned State Bank of India (SBI) and leading private banks have addressed their asset quality challenges, the same cannot be said about many other Indian public sector banks (PSB), said S&P Global Ratings in its latest research report on the global banking scene. According to the report, many large PSBs are still saddled with weak assets, high credit costs and poor earnings and the polarisation of the bank performance will persist. Simply put, credit cost is the ...
Many PSBs saddled with weak assets, high credit costs: S&P Global Ratings
Many PSBs saddled with weak assets, high credit costs: S&P Global Ratings
Source: IANS
19/11/2022 12:13:06 PM
Gangbuster PSB profits not likely to set off divestment process: Experts The impressive profits posted by public sector banks (PSBs) during Q2FY23 and H1FY23 and indications of good times ahead may not accelerate government divestment, experts contend. On November 7, Finance Minister Nirmala Sitharaman said 12 PSBs registered handsome net profits during Q2FY23 and also H1FY23. "The continuous efforts of our govt for reducing the NPAs & further strengthening the health of PSBs are now showing tangible results. All 12 PSBs declared net profit of Rs ...
Gangbuster PSB profits not likely to set off divestment process: Experts
Gangbuster PSB profits not likely to set off divestment process: Experts
Source: IANS
19/11/2022 12:08:17 PM
Public sector banks shut down 2,044 branches in FY22: AIBEA  Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday. On the other hand, the number of branches of private banks went up by 4,023 to 34,342 branches in 2022 as compared to 2021, the All India Bank Employees' Association (AIBEA) said. Private banks had a staff strength of 534,022 at the end of FY21, while in FY22, the number was 357,346 with the staff numbers of sev...
Public sector banks shut down 2,044 branches in FY22: AIBEA
Public sector banks shut down 2,044 branches in FY22: AIBEA
Source: IANS
4/07/2022 8:46:38 AM
PSBs well-capitalised; Not to require major infusion in FY23 India's public sector banks (PSB) are expected to achieve credit growth as well as adhere to the minimum capital requirements without any fresh capital infusion from the Centre. According to Brickwork Ratings, in FY23, banks will be able to achieve credit growth of 8-9 per cent. "Between FY17-FY20, the government injected Rs 3,000 billion in PSBs in order to help the banks maintain the minimum capital requirement, as well as manage huge amounts of bad assets in their books,&quo...
PSBs well-capitalised; Not to require major infusion in FY23
PSBs well-capitalised; Not to require major infusion in FY23
Source: IANS
12/03/2022 12:41:20 PM
Rising yield curve could weigh down on banks' profitability: Ind-Ra  The expected pressure on long-term yield curve triggered by rising inflation trend could impact the profitability of the Indian banking system. Accordingly, a 100 basis points (bp) upward shift in the yield curve could impact the pre-provisioning operating profit (PPOP) of public sector banks (PSBs) by 8 per cent and that of private banks by 3.2 per cent; for the overall banking system, the impact could be 5.8 per cent. "The 100bp movement in the yield curve would impact the ...
Rising yield curve could weigh down on banks' profitability: Ind-Ra
Rising yield curve could weigh down on banks' profitability: Ind-Ra
Source: IANS
21/07/2021 5:04:22 PM
Centre may front load capital provisioning for PSBs this year  As the Central government draws a plan to privatise at least two public sector banks (PSB) this fiscal, it has also decided to front load capitalisation of state-owned banks so that the balance sheets of some of these entities are strengthened ahead of possible sale. Sources said that PSBs may be provided this year just after their first quarter results before October. This would be a departure from the practice of previous year when bank capitalisation was undertaken late in the y...
Centre may front load capital provisioning for PSBs this year
Centre may front load capital provisioning for PSBs this year
Source: IANS
13/06/2021 10:51:53 AM
State-run banks to lend up to Rs 5 lakh for Covid treatment Public sector banks (PSB) will provide unsecured personal loans of up to Rs 5 lakh to individuals for meeting their expenses of Covid treatment. The decision, which comes in the wake of the severe second wave of Covid-19, was announced jointly at a press conference by the State Bank of India and the Indian Banks' Association (IBA). PSBs will provide "unsecured personal loans to individuals from Rs 25,000 to Rs 5 lakhs for salaried, non-salaried and pensioners for meeting Covid ...
State-run banks to lend up to Rs 5 lakh for Covid treatment
State-run banks to lend up to Rs 5 lakh for Covid treatment
Source: IANS
31/05/2021 8:41:25 AM
`False`: Government on reports PSBs withdrawing funds from abroad due to Cairn The Indian government has denied reports that it has asked state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of their potential seizure with regard to the Cairn legal dispute, terming such information as "false and baseless". "Condemning all such source-based reports as false, the Government of India said that these are totally incorrect reports which were not based on true facts. Certain vested parties appear to have orchestrated such...
`False`: Government on reports PSBs withdrawing funds from abroad due to Cairn
`False`: Government on reports PSBs withdrawing funds from abroad due to Cairn
Source: IANS
24/05/2021 8:37:56 AM
RBI`s Governor asks PSBs to implement recently announced measures `in right earnest` Reserve Bank of India (RBI) Governor Shaktikanta Das has asked state-owned banks to quickly implement measures announced by the central bank recently in the ‘right earnest’. He also urged the banks to continue focussing on steps to enhance the resilience of their balance sheets. Das acknowledged the important role being played by Public Sector Banks (PSBs) in extending various banking facilities including credit facilities to individuals and businesses while tackling the challe...
RBI`s Governor asks PSBs to implement recently announced measures `in right earnest`
RBI`s Governor asks PSBs to implement recently announced measures `in right earnest`
Source: Accord Fintech
20/05/2021 10:04:29 AM
Key News - Reliance Jio Infocomm Ltd, Public sector banks, HCL Technologies, Indiabulls Housing Finance Ltd, Godrej Consumer Products Ltd by ARETE Securities Key News Reliance Jio beats Bharti Airtel, adds 4.3 million users in February Reliance Jio added 4.3 million and Bharti Airtel added 3.7 million users to their networks in February, according to latest data by the telecom regulator. Vodafone Idea barely added 652,625 subscribers to its network in the month of February, shows Telecom Regulatory Authority of India (TRAI) data. Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering...
Key News - Reliance Jio Infocomm Ltd, Public sector banks, HCL Technologies, Indiabulls Housing Finance Ltd, Godrej Consumer Products Ltd by ARETE Securities
Key News - Reliance Jio Infocomm Ltd, Public sector banks, HCL Technologies, Indiabulls Housing Finance Ltd, Godrej Consumer Products Ltd by ARETE Securities
Source: ARETE Securities Ltd
12/05/2021 9:05:25 AM
Centre may redraw bank recapitalisation plan in wake of new challenges The government may redraw the recapitalisation roadmap for public sector banks (PSB) in the current fiscal as the institutions face additional burden to meet interest on interest obligation for all its borrowers while changes in valuation norms AT1 bonds by Sebi will make the instrument less attractive for banks to raise their capital. Sources said that the finance ministry has already started a preliminary exercise to determine the capital requirement of banks in wake of the changes in no...
Centre may redraw bank recapitalisation plan in wake of new challenges
Centre may redraw bank recapitalisation plan in wake of new challenges
Source: IANS
10/04/2021 2:36:28 PM
Government to infuse Rs 14,500 crore in four PSU banks The Finance Ministry has notified that the government would infusion Rs 14,500 crore through recapitalisation bonds in four public sector banks. The government will infusion Rs 14,500 crore into Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank by issuing non-interest bearing bonds to them despite reservations raised by the Reserve Bank of India (RBI) over the use of this instrument. Central Bank of India will receive highest capital infusion of Rs 4,800 crore, followed ...
Government to infuse Rs 14,500 crore in four PSU banks
Government to infuse Rs 14,500 crore in four PSU banks
Source: Accord Fintech
1/04/2021 11:42:28 AM
Rs 80 lakh cr public money at risk if PSBs privatised: UFBU Strongly opposing Prime Minister Narendra Modi's plans to privatise all public sector banks (PSBs), the Unted Forum of Banking Unions on Thursday said that it could imperil Rs 80 lakh crore hard-earned money belonging to the people. UFBU Convenor Devidas Tuljapurkar said that the move could prove counterproductive as the private sector banks will work towards "accounting profits" vis-a-vis the PSBs which strive towards "social profits". To protest the move to pri...
Rs 80 lakh cr public money at risk if PSBs privatised: UFBU
Rs 80 lakh cr public money at risk if PSBs privatised: UFBU
Source: IANS
26/02/2021 9:11:40 AM
Centre mulls `bad bank`, PSB privatisation for Budget FY22 The Union Government is considering several policy measures for the Indian banking sector, including setting up of a bad bank and privatisation of few state-run banks. A bad bank is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. Even though a custodian for the stresssed assets has been provisioned for long, but, it has never materialised. According to sources, there are talks of reducing the number of public sector banks (PSBs) to four f...
Centre mulls `bad bank`, PSB privatisation for Budget FY22
Centre mulls `bad bank`, PSB privatisation for Budget FY22
Source: IANS
17/01/2021 4:08:11 PM