Page 5 - Public Sector Banks

Centre asks IBA to ready EASE-like plan for regional rural banks

The banks' lobby group has been asked to assist with the preparation of the viability plan for RRBs

Profit of public sector banks rises 9% to Rs 15,306 cr in June qtr

Of the total 12, three lenders -- SBI, PNB and Bank of India -- reported fall in their profits ranging from 7%-70%

PSBs recover Rs 6.42 trn NPAs, written off loans since from FY15 to FY22

From FY16 to FY21, the central government has infused Rs 3.36 trillion of capital in PSBs, while banks have raised an additional Rs 2.99 trillion from the markets

All 12 public sector banks go live on account aggregator network

Around 0.97 million accounts have been linked to the ecosystem so far; around 0.93 million consents have been given during the same period

Bank of India's Q1 profit declines 22% to Rs 561 cr as provisions rise

Fall in non-interest income, rise in bad loan provisions drag down company's net

Eight PSBs join the account aggregator ecosystem ahead of deadline

The remaining four, which are in the testing phase, could be inducted soon

Union Bank of India Q1 net profit rises 32% YoY to Rs 1,558 crore

Eyes QIP for equity up to Rs 3,500 cr in Q3FY23

Frauds reported by PSBs decline to Rs 3,204 cr in FY22: MoS Finance

In 2020-21, PSBs reported 4,680 fraud cases of Rs 7,306 crore, which declined to 2,369 cases corresponding to Rs 3,204 crore in 2021-22, he added.

RBI hikes capital adequacy ratio for urban cooperative banks to 12%

Rule applies to banks with deposits above Rs 100 crore; glide path till March 2026, to meet revised CAR norm in phases for UCBs that do not meet it currently

Bank fraud cases decline by about 50% in FY22: MoS Finance tells Parliament

The amount involved in the frauds too declined to Rs 3,204 crore from Rs 7,306 crore in 2020-21.

Govt draws up plan to bolster PSU bank boards, hold directors accountable

With amendments to banking Act, it seeks to notify tenure for chairman

No benefits from consolidation of state-owned banks: Bank unions

They say no benefits were seen from previous rounds

Centre should privatise all PSBs, except State Bank of India: NCAER

First 2 banks for privatisation should be those with good asset quality and low NPA, says the report

Centre likely to remove 10% shareholding cap for individuals in PSBs

Removal of threshold may allow PE firms to own over 10% stake in state-run banks

IBA seeks bids from advisory firms for designing PSBs development programme

Industry body IBA has invited bids from advisory firms and institutes to design and deliver a leadership development programme for public sector banks (PSBs)

Banks' Q1 net profit growth estimated at 47% as lending stays strong

According to Bloomberg's data on analysts' estimates, net profits of the 12 listed banks in Q1FY23 will grow 47 per cent YoY and shrink 7.8 per cent sequentially

PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%

Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%

Public sector banks shut down 2,044 branches in FY22, says AIBEA report

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday.

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Private banks are better money managers, state-owned lenders grow faster

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink