Public Sector Banks Psbs

Street Signs: PSU Bank exchange-traded funds, Yum! Brands stocks, and more

Analysts say Yum!'s - which operates Kentucky Fried Chicken (KFC), Taco Bell, and Pizza Hut food chains - performance has improved, driven by aggressive store expansion vis-a-vis other players

After BoB, Bank of Maharashtra cuts home loan rate effective March 13

20 bps reduction takes rate to 8.4% as the lender scales up efforts to cater to growing volumes ahead of the close of the financial year

Govt may not announce capital infusion for PSU banks in Budget: Sources

The government is unlikely to announce capital infusion for public sector banks (PSBs) in the upcoming Budget as their financial health has improved significantly and they are on track to earn a combined profit of Rs 1 lakh crore, sources said. Their capital adequacy ratio is much above the regulatory requirement and varies between 14-20 per cent. To augment their resources, banks are raising growth funds from the market and also by selling their non-core assets, they added. The government last provided capital support to banks in 2021-22. It had earmarked Rs 20,000 crore for recapitalisation of PSBs through supplementary demands for grants. The government infused Rs 3,10,997 crore to recapitalise banks during the last five financial years i.e., from 2016-17 to 2020-21, out of which Rs 34,997 crore were sourced through budgetary allocation and Rs 2,76,000 crore through issuance of recapitalisation bonds to these banks. Finance Minister Nirmala Sitharaman is scheduled to present th

Consolidation of PSBs gives a robust base to scale: Bankers at BFSI Summit

Have better underwriting, risk magt to manage high credit growth

Mix of PSBs aided in boosting customer services, creating strong banks: MoS

The amalgamation of public sector banks has helped in improving customer services and creating strong banks, Minister of State for Commerce and Industry Som Parkash said on Wednesday. In a written reply to a question in the Lok Sabha, the minister said the objective of amalgamation of the banks was to facilitate consolidation among PSBs to create "strong and competitive banks" capable of achieving economies of scale and realisation of synergy benefits with wider product and service offering to customers. "As a result of this effort, customers of amalgamated banks received access to increased number of branches and ATMs from which they can now avail banking services. Customers have also received access to a larger bouquet of products and services," he said. The amalgamation also enhanced their lending capacity for loans of a larger size and has also enabled banks to open/reorganise, controlling offices and processing centres, equipping them for better customer serving, Parkash ...

Education loan disbursal target for FY23 set at 13.5% lower than FY22: Rpt

In FY22, the country's financial system disbursed education loans for Rs 23,640 crore and for 12 PSBs in India, the target for FY23 has been fixed at Rs 20,450 crore

Select segments within PSU theme could outperform amid economic uptick

Public-sector banks, defence stocks could do well; PSUs exposed to commodities are at risk

Merger of PSBs haven't impacted financial inclusion adversely: RBI

Preserving financial system stability an overriding objective for regulators says deputy governor Rajeshwar Rao

NARCL makes offers to acquire Jaypee Infratech debt held by Public Banks

NARCL's Rs 3,570-crore offer for the Rs 9,234 crore debt held by nine public sector lenders has triggered a Swiss challenge auction where it will have the right to match the winning bid and take over

Public sector banks plan to establish verticals for big data, analytics

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

India doesn't need so many public sector banks, says former SBI chief

India needs 'fewer' but stronger Public Sector Banks (PSBs), and the smaller ones could be privatised or merged, former SBI chief Arundhati Bhattacharya has said. Bhattacharya further said much of the goals that are expected to be achieved through privatisation of PSBs can also actually be achieved by enabling the state-owned banks and by levelling the playing field. "The thing is, privatisation has never been the answer to all the ills," she told PTI while responding to a question on former RBI governor D Subbarao's suggestion that the government should come up with a 10-year road map for privatisation of all PSBs. Subbarao had recently suggested that the government should come up with a 10-year road map for privatisation of all PSBs as it would provide much needed predictability to stakeholders. "I don't really believe that we need so many public sector banks either, the number of PSBs could be decreased. "Some of them could be privatised. And maybe you know, the stronger ones c

Centre seeks hiring plan after public banks see dip in staff strength

In the last 10 years, the number of branches of PSBs across the country have gone up, but staff strength has fallen

FM Sitharaman to meet CEOs of PSBs to review progress of schemes for SCs

Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks and financial institutions later this month to review progress of various government schemes aimed at welfare and upliftment of scheduled castes. Schemes like Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and Credit Enhancement Guarantee Scheme for Scheduled Castes (SCs) and their progress would be discussed during the meeting, sources said. The meeting would review the performance of public sector banks (PSBs) and financial institutions to provide credit to people belonging to the SC community and other welfare measures under implementation, they said. The meeting, to be chaired by the Finance Minister, would see participation from chairman of National Commission for Scheduled Castes (NCSC), financial services secretary and other senior officials. The Stand-Up India scheme was launched in 2016 to promote entrepreneurship among the scheduled caste/ scheduled tribe and women by facilitating b

Ministry of Finance reviews performance of PSBs, pushes for credit growth

The govt reportedly said that it was keen on National Asset Reconstruction Company of India Ltd (NARCL) starting its operation

Finance Ministry to review credit flow in meeting with PSBs today

The department will also take stock of the banks' asset quality, and focus on large bad loans, implementation of the Centre's various schemes, and the lenders' plan to raise capital

FinMin asks PSBs to expedite NPA resolution; focus on credit growth

According to sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including from the Russia-Ukraine war.

PESB-like body likely to hire PSB, public sector insurance firm heads

Centre looks to continue maintaining arms length in financial sector hiring

Frauds in PSBs dip 51% t Rs 40,295 cr, cases not falling fast enough: RBI

Public sector banks reported over 51 per cent dip in the amount involved in frauds to Rs 40,295.25 crore during the financial year ended March 2022, the Reserve Bank of India has said

Fair valuation of recap bond: PSBs stare at Rs 13,000 crore-hit

Govt will continue to factor in such impact for future capital infusion

Bank officers' body to hold protest against govt's privatisation plan

All India Bank Officers Confederation (AIBOC) on Monday said it will hold a protest programme against the government's move to privatise public sector banks (PSBs) in Delhi later this month