Page 7 - Public Sector Banks

Expect slippages, credit cost to come down further: Bank of Baroda MD & CEO

Sanjiv Chadha, in an interview with Manojit Saha, says it was a conscious decision not to chase corporate loans and focused on segments offering higher margins

Union Bank Q4 net up 8.26% on improvement of net interest margins

It had posted a net profit of Rs 1,330 crore in Q4FY21

Finance ministry invites applications for CVOs in PSU banks, insurers

The finance ministry has invited applications from eligible candidates for the position of Chief Vigilance Officers (CVOs) in various public sector banks and insurance companies. Applications have been called for CVO positions in five lenders, including Canara Bank, Indian Bank and Bank of India. Besides, CVO position would also fall vacant in New India Assurance Co and IFCI during this year. Position of CVO would also be filled at Punjab National Bank, Punjab & Sind Bank, General lnsurance Corporation and National Bank for Agriculture and Rural Development (Nabard). Applications are invited for filling up the posts of Chief Vigilance Officers (CVOs) in various Public Sector Banks (PSBs), Public Sector Insurance Companies (PSICs) and Financial Institutions (FIs), according to a notification issued by the Department of Financial Services, under the finance ministry. Selection of the candidates shall be made by the government in consultation with Central Vigilance Commission (CVC) .

9 private banks on account aggregator system, 5 public sector banks in line

Among large private sector lenders, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank are live on the AA system

Public sector banks sufficiently capitalised, says MoS Finance

The government has infused capital amounting to Rs 2,86,043 crore in public sector banks (PSBs) during the last five years and they are sufficiently capitalised, Parliament was informed on Tuesday.

Calibrated approach to bank privatisation needed: Industry leaders

The government sounded the bugle on privatisation of state-owned enterprises in its recent Budget

PSBs disburse Rs 41,269 cr 'loans in 59 minutes' over three years

201,000 loan proposals of Rs 39,580 crore disbursed in the business loan category; 17,791 retail loans amounting to Rs 1,689 crore also disbursed

No public sector bank faced loss in last three quarters, says govt

No plan to set up fiscal council: FinMin

Govt to provide bulk of Rs 15,000 cr capital support to weak PSU banks

Weak public sector lenders like Central Bank of India and Punjab & Sind Bank will get the lion's share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal. This will help these public sector banks (PSBs) meet regulatory requirements. The capital infusion of Rs 15,000 crore would go mostly to banks which had got money through non-interest-bearing bonds in the previous year as the RBI had raised some concerns on the fair valuation of these instruments, sources said. As per the RBI, the net present value of infusion made last year through zero-coupon bonds is much lower than face value as they were issued at discount, the sources added. These special securities with tenure of 10-15 years are non-interest bearing and valued at par. Such bonds usually are non-interest bearing and issued at a deep discount to the face value. So, the effective Tier 1 capital levels for the banks could be lower than the regulatory requirement. According to ...

India Ratings upgrades outlook on banking sector to 'improving' for FY23

Key financial metrics are likely to continue to show improvement in FY23, backed by strengthened balance sheets, an improving credit demand outlook and expected commencement of corporate capex cycle.

India's banking story still evolving

Banks have started seeing signs of growth in credit. Retail loans still remain the growth driver but money has also started flowing to the corporate sector

Analysts see up to 41% upside in SBI, BoB; credit growth to be key driver

Shares of State Bank of India (SBI) and Bank of Baroda (BoB) jumped 3 per cent and 9.7 per cent, respectively, in intra-day trade on Monday, and hit fresh record highs of Rs 547 and Rs 117 apiece

Public sector banks up loan growth target as corporate demand sees revival

Large public sector banks (PSBs) have revised upwards their credit growth target for the current financial year

PSBs poised for growth despite zero capital from govt this budget: Agencies

Decision to not earmark funds for recapitalisation reflects confidence in capital position of such banks, as well as their ability to raise funds from market

FM reviews PSBs' readiness to tackle disruption by third covid wave

In a virtual meeting, Sitharaman also reviewed steps taken by public sector lenders in implementing pandemic-related measures initiated by both Centre and RBI

Banks have written off double the amount recovered in last 5 yrs: RBI data

Public sector banks write off Rs 7 trillion in 5 years, which is double the govt's capital infusion since 2014

Banks raise over Rs 37,000 cr via AT1 bonds amid capital ratio concern

Call options for instruments raised last year and worth Rs 28,430 crore are due in the next financial year.

Avoidable delay

Govt should soon start the PSB privatisation process

No Cabinet decision on privatisation of two PSBs: FM Sitharaman

The bill related to privatisation of PSBs has been listed for the ongoing winter session of Parliament, which ends on December 23

PSU bank employees go on two-day strike; services hit at many places

Employees of public sector banks went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country