Page 16 - Public Sector Banks

United Bank of India, OBC slipped into red before merger with PNB

While UBI posted a net loss of around Rs 6,700 crore in the quarter ending March 2020 (Q4FY20), OBC logged a net loss of around Rs 2,700 crore, an executive said, requesting anonymity.

Canara Bank's Q4 pre-tax loss widens to Rs 3,334.5 cr as staff costs rise

Drop in NII adds to impact, lender plans to raise 6,000-8,000 cr in capital in FY21

Managing bad loans

Bank balance sheets would need to be quickly repaired

Canara Bank's net loss widens to Rs 3,259 cr in Q4 on back of provisioning

The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter

Union Bank of India reports pre-tax loss of Rs 3,359 crore in Q4

It posted a net loss of Rs 2,503.1 crore in Q4FY20, against a loss of Rs 3,369.2 crore in the same period a year ago.

Defer avoidable expenditure, reduce costs: Govt tells public sector banks

Further, the banks have been asked to effect significant reduction in expenditure on activities other than those pertaining to core business activities

PSBs disburse Rs 14,691 cr to MSMEs under credit guarantee scheme

Public sector banks (PSBs) have sanctioned loans worth Rs 29,490.81 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1

PSBs disburse Rs 12,201 cr loan to MSMEs under emergency credit line scheme

Public Sector Banks (PSBs) have sanctioned loans worth Rs 24,260.65 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1

FM Sitharaman to review credit flow with public sector banks on Tuesday

She will take stock of the Emergency Credit Line Guarantee Scheme announced recently.

Banking to be a 'strategic sector', govt discussing privatising some PSBs

According to the new privatisation policy, announced by FM Sitharaman as part of the 'Atmanirbhar Bharat' package, the government will come up with a list of strategic sectors

PSBs disburse half of the sanctioned credit guarantee scheme loans

State Bank of India contributed to 75% of the total loan disbursements of Rs 8,320 crore till June 5

Punjab National Bank reduces lending rate linked to repo by 40 bps

The bank's marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.

Centre looks to EPFO, LIC, PSBs to raise funds through power bonds

PFC, REC will first issue bonds based on initial demand from states

State Bank of India slashes FD rate by 40 bps, second cut in May

The lender will also extend EMI moratorium by 3 months for all eligible customers without waiting for a request

Bank of Baroda to advance Rs 12,000 crore to MSMEs under govt scheme

Under the scheme, the government will offer 100 per cent guarantee on loans.

PSBs sanctioned loans worth Rs 6.45 trn in lockdown between Mar 1-May 15

State-owned banks launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March

Stimulus 2.0: Banks will monitor solvency, guarantees cool credit risk fear

While the issue of providing liquidity to existing borrowers who are sapped of revenues has been addressed, banks will have to undertake due diligence on the solvency of units, said bankers.

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms

The Reserve Bank of India has imposed a penalty of Rs 5 lakh on UCO Bank for bouncing of SGL forms

Not a good idea

A bad bank will do nothing to solve the problems

MSME sector's bad loan ratio at 12.5% as of January, shows report

NPA level of public sector banks has increased from 18 per cent in December 2018 to 19 per cent in December 2019