PSBs

DFS secretary to review progress of financial inclusion and social security schemes

Sitaraman said banks' provisioning cover ratio was close to 75 per cent - the highest in about the last 25 years

Indian banks, in the past, have had to take deep haircuts on their exposure to debt-laden companies admitted under bankruptcy legislation

Directs banks to double down on comprehensive stress testing of portfolios at micro-cluster level

About 60 per cent of banks' investment book is in the HTM portfolio, analysts at Macquarie Research wrote

Regularly scheduled meeting could discuss banking troubles in the US and Europe

Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 for performance review in the backdrop of failure of few banks in the US and liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and emergency credit line guarantee scheme (ECLGS) to help businesses affected by Covid-19, according to sources. This is the first full review meeting after the presentation of Budget 2023-24 and banks would be asked to focus on the areas highlighted by the Budget including credit flow to productive sectors. The finance minister would review credit growth, asset quality, and capital raising and business growth plan of banks for next financial year, the sources said, adding non-performing assets (NPAs) of Rs 100 crore and the recovery status

GeM Sahay to provide short-term loans to all sellers

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

However, they still lag the pace of private banks

According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,000 crore in April-December 2021

Other income rises in Q3 against contraction in Q2

The progress in digitisation of the process for getting the KCC was also discussed to improve the transparency

MDs and EDs of nationalised banks can have a term of up to 10 years but there is no relaxation in their retirement age. Private bank bosses can be in the saddle till they are 70

Going beyond corporate loans, SBI is getting into vendor financing as well as supply chain and cluster financing, the buzzwords of banking these days

Have better underwriting, risk magt to manage high credit growth

The government on Monday said it will take a view on privatisation of public sector banks (PSBs) after consultation with the concerned department and regulator. Consideration of issues related to disinvestment and decision on selection, terms and conditions, etc. in case of strategic sale is entrusted to the Cabinet committee designated for this purpose under the Government of India (Transaction of Business) Rules, 1961, minister of state for finance Bhagwat Karad said in a written reply to Lok Sabha. "Before such consideration for decision thereon, consultation is undertaken with the ministries and departments concerned and, where necessary, with the regulator concerned," he said. In the Union Budget for the financial year (FY) 2021-22, he said, the government's intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced. The objectives of the policy include enabling growth of public sector ...

Indeed, the IBC has only proven how wide and deep corrupt banking practices in PSBs were

In past one month, the stock price of UCO Bank zoomed 151%, while of Punjab & Sind Bank by 147%, as compared to 23% rise in the Nifty PSU Bank index and less than 1% gain in Nifty 50.

Recently, SBI raised Rs 10,000 crore through its maiden issue of infrastructure bonds, for funding infrastructure and affordable housing segment.