Page 6 - Public Sector Banks

Account aggregator system for credit access all set to onboard GSTN, PSBs

It is also in talks with insurance behemoth Life Insurance Corporation (LIC) to start the onboarding process

Yes Bank launches FD linked to repo rate, with mark-up of 1.1-1.6%

Lender also raises interest rates on standard FDs, capping them at 6.5% for regular customers, 7.25% for seniors

Expedite NPA resolution, focus on credit growth: Finance ministry to PSBs

Banks have been asked to put up branches in unbanked villages

FM to meet heads of PSBs on Monday; may urge them for credit growth

The Finance Minister is said to take stock of credit growth, asset quality, and business growth plan of banks

FM Nirmala Sitharaman set to review govt banks' financials on Monday

Loan recovery, bad loans over Rs 100 crore to be reviewed

FM to meet heads of PSBs on June 20; may nudge them for loan growth

The Finance Minister would take a stock of credit growth, asset quality and business growth plan of banks

Support Agniveers after tenure completion: FinMin to PSBs, insurance firms

Post the announcement of the scheme protests have erupted across several states with the Opposition slamming the centre for hastily drawing up the plan

Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch

State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC

Nirmala Sitharaman launches EASE 5.0 'Common reforms agenda' for PSBs

Enhanced Access and Service Excellence-EASE on Wednesday has evolved over four annual editions from FY19 to FY22 and has catalyzed reforms in diverse areas in Public Sector Banks

PSBs to focus on 3-yr roadmap to support SMEs, farming under EASE reforms

The roadmap will be based on broad themes of business growth, profitability, risk, customer service, operations, and capability building

Public sector bank unions plan strike on June 27 over pension, govt policy

Employees of public sector banks on Wednesday threatened to go on strike on June 27 to press for issues related to pension and the demand for five-days-a-week work. The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW), decided to go on strike. Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU. AIBOC General Secretary Soumya Dutta said that about 7 lakh workers across the country would participate in the strike, if the government and management of banks are insensitive to the unions' demands. Banking operation may be impacted if the strike materalises.

PSBs to hold credit outreach drive across all districts on Wednesday

State-owned lenders to address public queries on credit facility and enrolment for various schemes

PSBs to hold massive credit outreach drive across all districts tomorrow

Public sector banks will undertake a massive credit outreach drive on Wednesday and will entertain public queries on loan facilities and enrolment in government schemes

Appointment of managing directors at three PSBs gets govt's approval

The appointments are in line with the recommendations made by the Banks Board Bureau

Advance action on bank privatisation underway, says DFS secretary

In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises.

Best year for Indian banks, but there are new challenges

As we celebrate the banks' performance in FY22, let's not throw caution to the wind

Top headlines: RBI's move on 5 NBFCs, bank privatisation, and more

Here are the top headlines on Thursday morning

Bank of Maharashtra eyes 25-30% jump in net profit in FY23 with NII growth

In the fiscal ended March 31, 2022, the Pune-based lender reported an over two-fold jump in its profit after tax (PAT) at Rs 1,152 crore, as against Rs 550 crore for the year ended March 2021

Equity funds bet on sectors likely to gain from an economic revival

These include capital goods, public sector banks, automobiles, oil and gas and utilities

State-run banks post 81% rise in Q4 profit; NII up 18.5% to Rs 70,825 cr

Enhance capital adequacy and provisions for bad loans