The finance ministry would review vacant positions and monthly recruitment plan of public sector banks (PSBs) and financial institutions in a meeting on Wednesday, sources said. The meeting would also review the procurement of banks and financial institutions through the Government e-Marketplace (GeM) portal. The meeting, to be chaired by Financial Services Secretary Sanjay Malhotra, will be attended by top management of banks and financial institutions through virtual mode, the sources said. Besides, there would be discussion on preparedness on 'Special Campaign 2.0'. The campaign during the period October 2-31, 2022 would focus on cleanliness (swachhata) and other issues. During the period, various pendency cases like MPs' references and state government references etc will be reduced.
The pressure on hiking interest rates on deposits is likely to intensify. However, the decline in credit could offset an increase in deposit costs
Brick and mortar branches to be opened by December 2022; progress was shared in PSB review
Richest Indian Gautam Adani's conglomerate has cited an improved net debt to operating profit ratio and more than halving of loans from public sector banks to allay concerns about it being overleveraged. In a 15-page note in response to CreditSights report calling the group overleveraged, it said companies in the group have consistently de-levered, with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years. "The businesses operate on a simple yet robust and repeatable business model focused on development and origination, operations and management and capital management plan," the note, reviewed by PTI, said. The group had a gross debt of Rs 1.88 lakh crore in March 2022 and net debt of Rs 1.61 lakh crore after considering the cash balance. While loans from public sector banks in 2015-16 accounted for 55 per cent of all debt of the group firms, in 2021-22, borrowing from PSBs made up for 21 per cent of all debt, it said. In FY2016, private banks
In a Q&A, T Koshy, dwells on the network's national road map, challenges in onboarding small retailers, and the value proposition for customers
The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines
It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards
The govt reportedly said that it was keen on National Asset Reconstruction Company of India Ltd (NARCL) starting its operation
New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives
Far from arguing against privatisation, the RBI paper attracting Opposition ire presents the pros and cons of both ownership structures
Broadly the trend we have seen is that retail is growing faster than corporate loans, said Chadha
High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May. The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic. The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector. With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...
Its last capital raise via Tier II bonds for Rs 2,500 crore was in December 2021 at coupon of 7.09 per cent
The Financial Services Institutions Bureau, the headhunter for directors of state-owned banks and financial institutions, on Tuesday recommended the elevation of 14 general managers for the post of executive directors in various banks. The Financial Services Institutions Bureau (FSIB) interviewed 57 candidates between August 19-23 for recommending suitable names for executive directors (EDs) in public sector banks (PSBs). Keeping in view their overall experience, the bureau selected 14 Chief General Managers and GMs for elevation to the executive director, FSIB said in a statement. Some of the successful candidates include Lalit Tyagi, Binod Kumar, Ashok Chandra, Ramasubraman S, M K Jain, M Paramsivam, Subrat Kumar, M V M Krishna and R K Saboo. Sanjay Vinayak Mudaliyar, Hardeep Singh Ahluwalia, Ashutosh Choudhury, Sanjay Rudra and Lal Singh were also selected. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet, headed by Prime
The common electronic platform to auction mortgaged properties of PSBs is set to get a makeover with plans to make all processes in the auctioning life cycle seamless and more us
The RBI issued this clarification after RBI's researchers argued in a recent article that a gradual approach to the privatisation of the public sector banks (PSBs) in India is better than the big bang
The study has found that labour cost efficiency is higher in PSBs in comparison to private banks
Cumulatively, all the 12 public sector banks reported a profit of about Rs 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent.
While the govt has secured a big win by privatising Air India, it is still far from its initial goal of privatising majority of PSUs
The Centre's recent move to impose GST on services rendered by the markets regulator, Securities and Exchange Board of India (Sebi), has rattled FPIs