Public Sector Bank

FM Sitharaman to review PSBs performance Sat amid financial crisis in West

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

Indian Overseas Bank launches electronic bank guarantee scheme

Public sector Indian Overseas Bank has launched the facility of issuance of e-BG (Electronic Bank Guarantee) scheme in association with the National e-Governance Services Ltd, the bank said on Wednesday. The e-BG is an instrument issued by the city-headquartered bank in which the bank undertakes to guarantee a specific amount against the non-fulfillment of some action/performance of the applicant. The main features of the e-BG are completely paperless mode with digital stamping and digital signature. Real time issuance of e-BG would make it available for the beneficiary instantly leading to time saving which in turn would fast track all the business purpose for which it is issued, the bank said. "Our bank is one of the pioneer in launching the Bank Guarantee through digital mode. As on date only few banks have the facility of issuance of e-BG," Indian Overseas Bank said in a statement here. Following the path to achieve vision mission statement 2021-2026 to provide best banking ...

Bank of Baroda Q3 net up 75%; exposure to Adani Group well below RBI cap

Bank management says, exposure to Adani Group well below the ceiling prescribed by RBI under large exposure framework

State Bank of India books over Rs 14,000-cr profit in its best performance

A healthy rise in NII and a sharp drop in credit costs boost bottom-line

Turnaround of PSBs: From Rs 85K-cr loss in 2017 to nearing Rs 1-trn profit

Public sector Banks have travelled a long distance since 2017 when they posted a net loss of Rs 85,390 crore to a profit of Rs 66,539 crore in FY22 and are estimated to touch a milestone of Rs 1 lakh crore by the end of the current fiscal. There was a time when 11 out of 21 PSBs were placed under the prompt corrective framework of the Reserve Bank due to deteriorating financial health on account of mounting bad loans to alarming levels of 14.58 per cent of the total credit. PSBs suffered from a host of problems, including a dismally low capital base, unprofessional management, demoralised staff and huge inefficiencies. Many of them were on the brink of default posing a threat to the financial security of the country. Their share prices were hitting a rock bottom. PSBs booked collective losses to the tune of Rs 2,07,329 crore for five straight years -- from 2015-16 to 2019-20. The highest amount of net loss was registered in 2017-18 at Rs 85,370 crore, followed by Rs 66,636 crore in

Public-float rule: PSUs to remain exempt even after change of ownership

Exemption for a 'specified period' may help IDBI Bank stake sale

Public sector Indian Bank ties with Honda Cars to offer financing solutions

Public sector Indian Bank has tied up with automaker Honda Cars India Ltd towards offering financing solutions to its customers, the city-headquartered bank said on Friday. This partnership would allow customers to bring home their favourite Honda vehicles through financing options provided by the bank. "The association with Honda Cars India Ltd will allow us to provide faster financing to a large number of our customers across the country." Indian Bank retail-assets general manager Vikas Kumar said. "We are confident that our digital loan procedure, will provide customers who want to acquire a new vehicle for themselves and family, ease and comfort at its best." he said. The financing options would be available across 5,700 branches of the bank present in the country. "The collaboration with Indian Bank seeks to provide all Honda customers with simple financing options, as well as best-in-class ownership experience and assistance," Honda Cars India Ltd vice-president marketing an

Bank of Baroda hikes MCLR up to 30 basis effective December 12

The revised rates will be effective from December 12

HDFC Bank likely to raise Rs 15,000 cr via tier-2 bonds, largest this FY

Lenders return to debt market as yields soften and credit demand booms

Union Bank raises Rs 2,200 cr in tier II capital for business growth

Public sector lender plans tier I bond of Rs 700 crore before financial year closes

Govt raises PSB CEO term to 10 years, seeks younger talent at the top

A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors

Special FD rates, while attractive, lose the medium to long-term race

While you may begin allocating to them, keep some powder dry as rates could rise further

BOI Q2 net down 8.65% YoY on rise in provisions for standard assets

Earnings, asset quality profile improve for public sector lender

Centre unlikely to infuse any capital into the PSBs in FY23: Report

Between FY16 and FY21, the government infused Rs 3.3 trillion into PSBs helping the banks in improving their balance sheets and the capital-to-risk-weighted assets ratio (CRAR)

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23

JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

Confident of delivering value on bid for Citi India deal: Axis Bank's Moghe

India's third-largest private lending is purchasing the retail business in a transaction worth Rs 12,235 crore

Hitch a ride on a fixed-rate car loan and shield yourself from another hike

But lenders can impose restrictive conditions on prepayment and foreclosure