Page 7 - Psbs

PSBs on-board 15 mn account holders on digital payment modes in 45 days

The Finance Ministry on Friday said that public sector banks (PSBs) have on-boarded about 1.5 crore customers on digital payment modes in just 45 days of launch of the 'Digital Apnayen' campaign. The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government's Digital India initiative. "Pushing digital payment adoption further with the #DigitalApnayen campaign! Started on 15th Aug'20, DFS's campaign has already onboarded >1.58 Cr. Customers and has resulted in deployment of 50k PoS, >3L QR codes & 18k BHIM Aadhaar pay devices in just 45 days," Department of Financial Services said in a tweet. Under the campaign, banks were asked to on-board a minimum 100 new customers including merchants and financial inclusion account holders by each branch on digital payment mode. Banks were also advised to consider reward and recognition programme for their branches and business correspondents and other field ...

SBI to waive processing fee on YONO loans, offers 10 bps off on home loans

The country's largest lender is offering the lowest interest rate starting from 7.5 per cent to customers opting for car loans

Govt's stake divestment to be credit negative for public sector banks: Icra

The proposed divestment of the Centre's majority stake in certain PSBs will be credit negative for these lenders, ratings agency ICRA said

Divesting majority stake credit negative for PSBs leaning on govt: Icra

Their credit ratings have been primarily supported by their sovereign ownership and their stable deposit base, which again is a function of their ownership

Divesting majority stake in PSBs will be 'credit negative' for them: Icra

Divesting majority stake in state-run lenders by the government will be "credit negative" for such public sector banks (PSBs), a domestic ratings agency warned on Thursday

No proposal for raising FII limit in public sector banks to 49%: Thakur

There is no proposal for raising FII ceiling in public sector banks to 49 per cent from 20 per cent for capital mobilisation, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha

Spike in bank frauds: Lag in reporting or weak internal controls?

Bank fraud numbers may not be as bad as they are made out to be, but their detection and reporting need to improve, writes Raghu Mohan

PSBs sanctioned over 90% loans under PM SVANidhi to street vendors: FinMIn

Under the scheme, street vendors of urban areas get collateral-free loan of up to Rs 10,000 for a period of one year

Indian private banks to gain market share from PSBs: Fitch Ratings

Indian private banks have had a decade of strong growth, reflected in much higher loan CAGR of 19.6%

PSBs to need Rs 2.1 trn over next 2 yrs; govt support to continue: Moody's

According to Moody''s, the sharp slowdown in India''s economic growth, exacerbated by the virus outbreak, will hurt the asset quality of public sector banks (PSBs) and drive up credit costs

Need to divest governance of PSBs from govt: Former RBI deputy governor

Privatisation is a bigger political decision and not an economic one alone, Vishwanathan said, adding that a bank holding company needs to be created first

ICICI Bank raises Rs 15,000 cr via QIP at an issue price of Rs 358 a share

The names of allotees are Monetary Authority of Singapore (11.08 per cent), Morgan Stanley Investment Management Inc (7.31 per cent) and Societe Generale (5.55 per cent)

BOI Q1FY21 pre-tax profit up 271% to Rs 1,332 cr on higher other income

Lower provisions support the better Q1 show; net profit up almost 3.5x to Rs 843 cr

Cut stake in top public sector banks to 51% in 12-18 months: RBI to govt

Proposal to prune stake to 51% in six banks may fetch over Rs 43,000 crore

Red lights flashing in PSBs make fresh equity injections imperative

Fresh equity injections have become significantly more imperative, as economic recovery remains shaky due to continued acceleration in new coronavirus cases

Govt widens ambit of Rs 3 trn MSME credit scheme, doubles upper loan limit

The maximum amount of guaranteed emergency credit line (GECL) funding under the scheme would also correspondingly increase from Rs 5 crore at present to Rs 10 crore

Need to divest stakes in PSBs in graceful manner, says Viral Acharya

Acharya said that because the RBI does not distinguish in its rules between public and private sector banks it is forced to adopt weaker standards for the system as a whole

Treasury gains to aid Q1 profitability of public sector banks: Analysts

Besides the impact of Covid-19, sluggish loan growth due to merger integration, moratorium and delay in the resolution of NCLT accounts are some of the factors that are likely to dent earnings

Risk aversion rising in banks, may hinder recovery if taken to extreme: FSR

Public sector banks chose to lend only to high-quality borrowers; there was a sharp credit contraction across all rating categories except 'AA and above', FSR points out

Worrying signals from the markets

Investors are getting increasingly concerned about the extent of capital issuance in the financial sector