Public Sector Banks

Public Sector Banks News

Budget 2022: Banks on a relatively strong footing; capital infusion not expected this time
Business

Budget 2022: Banks on a relatively strong footing; capital infusion not expected this time

Union Budget 2022-23: The better earnings prospects of most PSBs today coupled with more than adequate provisions on legacy stressed assets implies there is sufficient internal cash generation to fund near-term growth

IBPS Clerk Application 2021: Registrations to restart from 7 October, check details at ibps.in
India

IBPS Clerk Application 2021: Registrations to restart from 7 October, check details at ibps.in

The pre-exam training for the IBPS Clerk Exam 2021 will be held in November this year, with the call letters being issued in the same month.

DICGC asks 21 stressed cooperative banks to prepare list of account holders
Business

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent forms to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days

Banks to remain shut for public dealing from 27 March to 4 April; check calendar here
India

Banks to remain shut for public dealing from 27 March to 4 April; check calendar here

In Patna, services will also remain shut on 30 March as bank employees get a two-day Holi break in the city

Finance ministry allows all private sector banks to participate in government-related businesses
Business

Finance ministry allows all private sector banks to participate in government-related businesses

This step is expected to further enhance customer convenience, spur competition and raise efficiency in customer services, a ministry statement said

Centre lifts embargo on grant of government business to private banks, says Nirmala Sitharaman
Business

Centre lifts embargo on grant of government business to private banks, says Nirmala Sitharaman

Private banks can now be equal partners in the development of the Indian economy, the Union finance minister added

Union Budget 2021: Banks should not escape cost incurred by system due to bad loans
India

Union Budget 2021: Banks should not escape cost incurred by system due to bad loans

The key to the efficient functioning of a bad bank is that it should never be looked at as a funding institution where bad loans are routinely transferred

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G
Business

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G

The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings
Business

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings

With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report

Nirmala Sitharaman to meet PSU bank chiefs on Friday; to review credit flow to prop up virus-hit economy
Business

Nirmala Sitharaman to meet PSU bank chiefs on Friday; to review credit flow to prop up virus-hit economy

The meeting with PSU bank chiefs was earlier scheduled on 11 May, but due to the stimulus package announcements, it was deferred,

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman
Business

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman

State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and 15 May when businesses were reeling under the impact of COVID-19 crisis

Narendra Modi's Rs 20 lakh crore stimulus blends shrewd geo-economics with Swadeshi-coated booster, but it may not be a panacea for jobs growth
Business

Narendra Modi's Rs 20 lakh crore stimulus blends shrewd geo-economics with Swadeshi-coated booster, but it may not be a panacea for jobs growth

While global investors with their view from a London or New York may look at India as a long-term alternative to China, the Modi government's own close relations with Japan may provide leverage.

Coronavirus Lockdown: PSBs have sanctioned loans worth Rs 42,000 cr to MSMEs, corporates so far
Business

Coronavirus Lockdown: PSBs have sanctioned loans worth Rs 42,000 cr to MSMEs, corporates so far

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown

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

Banking declared as public utility service for six months till 21 October; employees will not be able to go on strikes
Business

Banking declared as public utility service for six months till 21 October; employees will not be able to go on strikes

All public sector banks, old generation private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Federal Bank are members of IBA

PNB gets stock exchanges' nod to trade over 266 cr shares post merger with 2 other PSBs
Business

PNB gets stock exchanges' nod to trade over 266 cr shares post merger with 2 other PSBs

State-owned Punjab National Bank (PNB) on Tuesday said it has received approval from stock exchanges for trading of over 266 crore shares post amalgamation with two other PSBs

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
Business

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday

Coronavirus Outbreak: Most private banks go for 'opt-in' option on loan repayment moratorium
Business

Coronavirus Outbreak: Most private banks go for 'opt-in' option on loan repayment moratorium

Most of the private sector lenders have decided to go for the "opt-in" option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India

Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later
Business

Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later

The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks

Mega bank consolidation on track; to take effect from 1 April, says finance minister Nirmala Sitharaman
Business

Mega bank consolidation on track; to take effect from 1 April, says finance minister Nirmala Sitharaman

The government on Thursday said the mega bank consolidation plan is very much on track and will take effect from April 1 despite the onslaught of coronavirus pandemic throwing the country out of gear