Page 2 - Public Sector Banks

Don't engage retired staffers to probe graft cases: CVC to govt depts

The Central Vigilance Commission has asked public sector banks, insurance companies and central government departments not to engage retired employees in investigating corruption cases. The assertion comes after it was noticed that some organisations were appointing retired employees as investigating officers, contrary to its existing nearly two-decade-old directive in this regard. Moreover, it is also important that the vigilance functionaries are made accountable and subjected to disciplinary action if they are found to have compromised confidentiality, objectivity or integrity, in the discharge of duties assigned to them, the commission said. The same is not possible in the case of retired officials as conduct and disciplinary rules do not apply to them for any post-retirement misconduct, it said in the latest order. The commission had in August 2000 directed that vigilance functionaries in any organisation shall be full-time employees and that a retired staffer should not be ..

Public sector firms' share in total market cap at a three-year high

BSE PSU index gained 41% and 23% in 2021 and 2022, respectively

Bond issuance by banks to touch record Rs 1.3 trn in FY23: Report

They raised more than Rs 73,000 crore in FY22, says rating agency ICRA

Economic stress tests

External sector remains a source of risk

Rupee premiums likely to stay above 2% after RBI's push, says report

The RBI looks comfortable with the current level of forward premiums, especially since it has lifted informal restrictions on banks for trading in the non-deliverable forward (NDF) market

BS BFSI Insight Summit: Who's who of PSBs to take part in panel discussion

From State Bank of India Chairman Dinesh Kumar Khara to Sanjiv Chadha, MD & CEO, Bank of Baroda, here is the list of panelists from public sector banks of India at BSFI Insight Summit

Govt to consult regulator before privatising public sector banks

The government on Monday said it will take a view on privatisation of public sector banks (PSBs) after consultation with the concerned department and regulator. Consideration of issues related to disinvestment and decision on selection, terms and conditions, etc. in case of strategic sale is entrusted to the Cabinet committee designated for this purpose under the Government of India (Transaction of Business) Rules, 1961, minister of state for finance Bhagwat Karad said in a written reply to Lok Sabha. "Before such consideration for decision thereon, consultation is undertaken with the ministries and departments concerned and, where necessary, with the regulator concerned," he said. In the Union Budget for the financial year (FY) 2021-22, he said, the government's intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced. The objectives of the policy include enabling growth of public sector ...

Finance ministry pulls up PSBs over mis-selling of insurance products

Banks have been advised to ensure '100 per cent' compliance of know your customer (KYC) guidelines while sourcing insurance business

Bad loans & IBC: Going as expected

Indeed, the IBC has only proven how wide and deep corrupt banking practices in PSBs were

Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit

Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks

Risky lending: Share of subprime borrowers higher at PSBs, shows data

The share of such loans declined between September 2020 and March 2022 in private banks and NBFCs but rose for public sector banks

Will RBI devise rules to regulate public sector banks amid rising scams

This has obviously made things lopsided when it comes to governance of Indian banks. For instance the Reserve Bank of India can issue guidelines to private banks or foreign banks, but not to the PSBs

After the runaway rally, analysts say shift from PSBs to private peers

Private sector banks' outlook is brighter on a relative basis, and the players will outperform benchmark indices from a 6-12 months' perspective, analysts say

Rally in PSU banks set to continue; biz prospects may improve further in H2

There's been credit expansion and credit costs have remained low, due to general economic growth and low non-performing assets (NPAs)

Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch

Rating agency warns capital base of PSBs may come under greater strain

Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction

Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago

Interest subvention on KCC crop loan to continue in FY23, FY24: RBI

The government of India has approved the continuation of the Interest Subvention Scheme (ISS) with modification for the financial years 2022-23 and 2023-24, RBI said

Union Bank likely to sell tier-2 bonds worth Rs 2,000 crore next week

Tier-2 bond sale plan comes amid sharp decline in bond yields

Banking on tenure

Longer terms for PSB chiefs address the talent gap partly

Govt appoints 10 executive directors to public sector banks for 3 years

The union government decided to increase the term of wholetime directors in public sector banks, including MD & CEOs, to 10 years, from five years