Banking Sector

Indian economy on track for recovery in next fiscal but banking sector to show improvement by 2023, says S&P

S&P Global Ratings said India faces a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10 percent of GDP

India's most valuable companies likely to lose $25 bn of brand value as COVID-19 pandemic wreak havoc: Brand Finance report

Brand Finance has assessed the impact of COVID-19 based on the effect of the outbreak on enterprise value, compared to what it was on 1 January 2020

Govt may need to pump $20 bn into coronavirus-hit state banks; soured assets likely to double: Report

The government has already pumped in Rs 3.5 lakh crore to shore up state-owned banks in the last five years.

Coronavirus Outbreak: SBI says difficult to take medium, long-term impact on banking sector during lockdown

The SBI official also said the Indian Banks Association (IBA) is also evaluating measures, which can be taken by the banks in this situation

Markets extend gains: Sensex up 371 points, Nifty closes near 9,400-mark; IndusInd Bank jumps 17%

IndusInd bank surged by 17 percent post-management relieved investor concerns over financials.

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless

Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.

Yes Bank crisis: Indian banks well capitalised, no reason to worry, says CEA Krishnamurthy Subramanian, allaying fears about sector

After what all unfolded about the crisis-hit Yes Bank recently, top government functionaries including Finance Minister, RBI Governor and the CEA have been trying to assuage panicked investors.

Axis Bank hints at raising stake in Max Life Insurance Co; lender may eye over 20% share: Report

The last major deal done by Axis Bank was an acquisition of digital payments company Freecharge in 2017 for Rs 385 crore

Economic growth set to bounce back as slump bottoms out; govt takes steps to boost investment: Official

Sanyal said economic growth was set to accelerate to 6 percent in the financial year beginning in April, compared with an estimated growth of 5.0 percent in the current one

Banking sector in India under 'stress', govt not in a position to bail it out, says Abhijit Banerjee

Speaking to the media on the sidelines of the 13th Jaipur Literature Festival, Abhijit Banerjee said the demand slowdown in the automobile sector also shows that people are lacking confidence in the economy