Psu Banks

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Psu Banks - Total results - 174
Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report
Business

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday

Govt reassures state banks it is ready to provide capital support; coronavirus pandemic may lead to surge in bad loans
Business

Govt reassures state banks it is ready to provide capital support; coronavirus pandemic may lead to surge in bad loans

The government may need to make a provision of at least Rs 20,000-25,000 crore ($5.90 billion) for capital infusion in state-run banks

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move
Business

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move

10 PSU banks are being amalgamated with a larger bank, referred to as the anchor bank

'Difficult to give timeline': Nirmala Sitharaman says coronavirus economic relief plan to be announced 'as soon as possible'
Business

'Difficult to give timeline': Nirmala Sitharaman says coronavirus economic relief plan to be announced 'as soon as possible'

Asked about relief measures for the financial sector, Nirmala Sitharaman said, 'SEBI has come up with a list of regulations which will also sort of keep the markets a bit stable. But I can't say what I am doing for the markets.'

Govt closely monitoring coronavirus impact on economy, says Finance Minister Nirmala Sitharaman
Business

Govt closely monitoring coronavirus impact on economy, says Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the coronavirus outbreak on the Indian economy

Bank strike from today: Over 10 lakh employees to take part in 2-day stir; services at branches, ATM services to be hit
Business

Bank strike from today: Over 10 lakh employees to take part in 2-day stir; services at branches, ATM services to be hit

"Today's talks with Indian Banks' Association (IBA) failed on-demand from unions, so strike call stands," AIBEA General Secretary C H Venkatachalam said on Thursday

Slowdown in auto sector cyclical; govt taking steps to support through release of Rs 70,000 cr to PSU banks
Business

Slowdown in auto sector cyclical; govt taking steps to support through release of Rs 70,000 cr to PSU banks

Citing reasons for the slowdown in the auto sector, Javadekar said an increase in axle load limit for commercial vehicles by up to 25 percent expanded freight capacity, leading to shrinkage of new vehicle demand

PMC Bank crisis impact: Odisha govt cautions departments against depositing money in banks
Business

PMC Bank crisis impact: Odisha govt cautions departments against depositing money in banks

The Odisha Finance Secretary has written the letter to departments asking them to keep in mind the norm that in the eventuality of closure of any bank the deposits are insured only up to Rs 1 lakh and not beyond that, said reports.

Daily Bulletin: Postpaid mobile services in J&K to resume from 12 pm today; Nirmala Sitharaman to meet CEOs of public sector banks today; day's top stories
India

Daily Bulletin: Postpaid mobile services in J&K to resume from 12 pm today; Nirmala Sitharaman to meet CEOs of public sector banks today; day's top stories

Here are today's top stories: Postpaid mobile services in Jammu and Kashmir to resume from today, internet only at tourist spots; Haryana Assembly elections 2019: Narendra Modi, Rahul Gandhi to campaign for upcoming polls; and more

Finance Minister Nirmala Sitharaman to meet CEOs of PSU banks today; to review fund flow to NBFC, MSME sectors
Business

Finance Minister Nirmala Sitharaman to meet CEOs of PSU banks today; to review fund flow to NBFC, MSME sectors

NBFCs, including housing finance companies (HFCs), came under stress following a series of defaults by the group companies of IL&FS in September last year

Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors
Business

Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors

The PMC Bank episode compares in scale (with an approximate exposure of Rs 6,500 crore) with the Rs 7,855-crore Satyam Computer Services scandal, which has been dubbed as India's biggest accounting fraud.

Finance minister Nirmala Sitharaman to meet CEOs of public sector banks on 14 October
Business

Finance minister Nirmala Sitharaman to meet CEOs of public sector banks on 14 October

The meeting is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said

Debt funds vs fixed deposits: Here are seven reasons why you should invest in MFs
Business

Debt funds vs fixed deposits: Here are seven reasons why you should invest in MFs

Rates have been cut, debt funds have emerged as a viable alternative, FDs are losing the tax game and they provide limited flexibility.

Loan melas have been recipe for NPA disaster for PSBs starting with Rajiv Gandhi era; Narendra Modi govt should learn from past
Business

Loan melas have been recipe for NPA disaster for PSBs starting with Rajiv Gandhi era; Narendra Modi govt should learn from past

This announcement must be a Déjà vu moment for many senior and retired bank officials who would have participated in the 80’s loan melas and seen its consequences.

Daily Bulletin: IMD issues red alert in Mumbai; Transport associations in Delhi, Noida strike over MV Act; day's top stories
India

Daily Bulletin: IMD issues red alert in Mumbai; Transport associations in Delhi, Noida strike over MV Act; day's top stories

Here are today's top stories: IMD issues red alert in Mumbai; schools and colleges to remain shut as precautionary measure; Defence minister Rajnath Singh to fly in Tejas fighter jet in Bengaluru today; and more

Finance Secretary to meet heads of PSU banks on 19 September; will review progress made by lenders to help boost growth
Business

Finance Secretary to meet heads of PSU banks on 19 September; will review progress made by lenders to help boost growth

Finance Secretary Rajiv Kumar is scheduled to meet heads of public sector banks on 19 September to review progress made by them to help boost growth, including follow up action after reduction of interest rates by RBI, sources said on Thursday

Economic Survey 2019: CEA’s sage advice to Narendra Modi govt to spend wisely is critical to overcome slowdown phase
Business

Economic Survey 2019: CEA’s sage advice to Narendra Modi govt to spend wisely is critical to overcome slowdown phase

The Economic Survey suggests the government should ensure the implementation of populist schemes does not adversely impact the path to fiscal consolidation

Vijay Mallya asks State Bank of India to disclose 'legal fees' spent to recover money from him in United Kingdom
Business

Vijay Mallya asks State Bank of India to disclose 'legal fees' spent to recover money from him in United Kingdom

Mallya accused the SBI lawyers representing SBI in the UK of “making presentations on their accomplishments against him” at the "cost of Indian taxpayers' money."

India needs to bolster level of capitalisation of government-owned banks as bad loans remain high: IMF
Business

India needs to bolster level of capitalisation of government-owned banks as bad loans remain high: IMF

Noting that the level of non-performing loans in India remains high, the International Monetary Fund has favoured bolstering the level of capitalisation of some banks, particularly government-owned banks

Vijay Mallya seeks to use Jet Airways crisis as safety valve, urges banks to take his money to save beleaguered airline
Business

Vijay Mallya seeks to use Jet Airways crisis as safety valve, urges banks to take his money to save beleaguered airline

Vijay Mallya questioned why public sector banks pitched in to save Jet Airways but let his company, Kingfisher Airlines, fail ruthlessly