Page 6 - Psbs

Payments banks may also join private banks to offer tax, pension services

The finance ministry has now made it clear that there is now no bar on the RBI's authorisation of private-sector banks to offer government business

Punjab & Sind Bank shares advance nearly 5%; hits the upper circuit

Shares of Punjab & Sind Bank advanced nearly 5 per cent in morning trade on Wednesday after the bank said it will allot shares worth Rs 5,500 crore to the government in lieu of capital infusion. After opening in the green territory, the bank's shares rose 4.98 per cent to hit the upper circuit limit at Rs 17.48 a piece on the BSE. The scrip hit its upper trading limit on the NSE as well, with a gain of 4.80 per cent at Rs 17.45. An extraordinary general meeting (EGM) of the shareholders of the bank is scheduled on March 25, 2021 for preferential issue of equity shares to the government up to Rs 5,500 crore, the bank said in a regulatory filing on Tuesday. The EGM, the bank said, will take place through video conferencing and other audio visual means for passing the resolution for issuing shares to the government. In September, the government had approved a Rs 20,000 crore fund as part of the Supplementary Demands for Grants for 2020-21, for capital infusion into public sector ...

Relief for HDFC Bank as SAT stays Sebi directive on Rs 160 cr transfer

Matter pertains to BRH Wealth Kreators share-pledge fiasco; SAT cites lender's financial strength while asserting it won't run away or become insolvent

Size, branch reach make Bank of India an attractive privatisation candidate

First to exit PCA in 2019, the bank's efforts to better its asset quality is yielding results

PFC, REC score over listed PSBs; report faster growth in advances

These two term lenders are more profitable and have reported faster growth in advances than listed PSBs

Union Budget 2021: Govt to privatise two PSBs and one general insurer

The Budget has also laid the road map for overhauling public sector enterprises with the announcement of the broad details of the privatisation policy

Budget: ARC to fast-track PSB clean-up, initial capital pegged at Rs 10K cr

In their post-budget media interaction, finance ministry officials said banks will put in capital in the AMC, and the govt will give support, if required

Budget: Govt proposes Rs 20,000-cr recapitalisation for PSBs in 2021-22

Finance Minister Nirmala Sitharaman on Monday said the government would infuse Rs 20,000 crore into public sector banks (PSBs) in 2021-22, to meet the regulatory norms

Govt to privatise two PSBs and insurance firms, LIC IPO slated for FY22

Asset reconstruction company to take over all stressed assets from bank books, manage it before selling it further to private parties such as distressed assets funds

AT1 bonds back as preferred avenue for PSBs to raise capital

Private banks stick to equity capital; fund-raising spree driven by RBI's call for adequate capitalisation

Budget Byte: NBFCs may need liquidity support from PSBs for commercial flow

This year, while housing finance has improved, preliminary data shows that NBFC flow to the commercial sector is lagging

Top headlines: Direct tax compliance may ease, RBI open to digital currency

Business Standard brings you the top headlines of the day

Capitalise PSBs, create bad bank to absorb NPAs, says financial sector

Rating agency CARE Ratings said, given that bank credit growth would be higher in FY22 than in FY21, incremental credit would be Rs 10-11 trillion

PSBs' Q3 nos to be a mixed bag; loan growth, NPAs to be tracked: Analysts

Analysts expect Public Sector Banks' net profit to plunge a massive 43 percent on year, and 71 per cent sequentially

RBI raises concerns over zero-coupon bond for PSB recapitalisation

The Reserve Bank of India (RBI) has expressed some concerns over zero-coupon bonds for the recapitalisation of public sector banks (PSBs) and discussion is on between the central bank and Finance Ministry to find a solution, according to sources. The government resorted to recapitalisation bonds with a coupon rate for capital infusion into PSBs during 2017-18 and interest payment to banks for holding such bonds started from the next financial year. To save interest burden and ease the fiscal pressure, the government has decided to issue zero-coupon bonds for meeting the capital needs of the banks. The first test case of the new mechanism was a capital infusion of Rs 5,500 crore into Punjab & Sind Bank by issuing zero-coupon bonds of six different maturities last year. These special securities with tenure of 10-15 years are non-interest bearing and valued at par. However, the RBI has raised some issues with regard to calculation of an effective capital infusion made in any bank ...

Public sector banks to raise Rs 25,000 crore in three months: DFS Secretary

Earlier this month, Canara Bank raised Rs 2,000 crore while Punjab National Bank (PNB) raised Rs 3,788.04 crore through qualified institutional placement (QIP)

Privatisation policy will now be a road map for PSB mergers: Debasish Panda

The soon-to-be-unveiled privatisation policy for public sector enterprises will lay the road map for mergers and amalgamation among state-owned banks, says Debasish Panda

Coronavirus pandemic dents growth of personal loans segment in FY21

While stress at an overall level is low, delinquencies in small ticket segment have moved up

Lack of capital prevents banks from transferring rate cuts: RBI staff study

Markets do not view banks with low capital favourably and offer funds at a higher rate, says study done independently.

Next set of asset quality woes for lenders to come from MSME segment

Gross NPAs at 12.8 per cent in June are up 140 bps year-on-year, marking the sharpest surge across asset pools