Page 84 - Banking Sector

India is mulling changes in law to cut govt's stake in banks: Report

The proposals -- if approved -- would allow the government to gradually lower its holding in state-run lenders to 26% from 51% without diluting its grip on management appointments, say sources

SBI's exposure to road sector at Rs 90,000 crore, says Dinesh Khara

SBI's exposure to the road sector is close to Rs 90,000 crore, which is 37 per cent of the total banking exposure to the segment, its Chairman Dinesh Khara said on Friday. Speaking at a national conference on investment opportunities in highways, transport and logistics, he said State Bank of India (SBI) is a trusted partner in the growth of the roadway sector in the country. "For all purposes, SBI's exposure to the road sector at Rs 90,000 crore is almost 37 per cent of the total banking exposure to this particular sector," Khara said. The lender has granted credit worth Rs 35,000 crore as of June 30, 2021 to support the National Highways Authority of India (NHAI) for execution of multiple road infrastructure projects. It has granted credit worth Rs 5,000 crore to the SPV (special purpose vehicle) for Delhi-Mumbai Expressway, and has recently extended credit of Rs 8,000 crore to the initiative, he said. The bank is the largest lender to the recently launched National Highways Inf

ICICI Bank raises Rs 5,000 crore debt capital by issuing bonds

The board of directors of the bank had in April this year approved to raise funds by issuing debt securities

State Bank of India attempts to dissuade employees from striking work

Considering the ongoing pandemic situation, resorting to a strike will cause great inconvenience to the stakeholders, SBI said

Bank of Maharashtra lowers home loan rate to all-time low of 6.4%

The new rates would be effective from December 13, it said

NHB seeking agency for data on unsold properties across 50 cities

NHB has floated a request for proposal (RFP) for the engagement of an external agency to source the data

Rules on banks' investment portfolios to be revamped first time in 21 years

The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year

Ease of doing biz, bank sector support will boost telecom industry: Birla

Aditya Birla Group holds over 27 per cent stake in VIL, while Vodafone Plc has more than 44 per cent in the telecom operator

'PSBs recovered Rs 4.18 trn related to frauds, defaults in last 3 fiscals'

The amount related to frauds of Rs 1 lakh and above has declined over the period

Dhanlaxmi Bank Part-Time Chairman G Subramonia Iyer submits his resignation

His resignation is to be effective from December 31, 2021

Privatisation of PSBs: Two-day bank strike from December 16

In the budget speech of 2021, Union Finance Minister Nirmala Sitharaman had said that two public sector banks will be privatised during the current fiscal

With Farm Laws Repeal Bill & crypto on agenda, winter session begins today

There are 10 economic Bills that are slated for the upcoming session

RBI stance signals easier framework for setting up banks, say experts

The RBI is yet to clearly spell out its position on conversion of non-banking finance companies into banks

Wilful defaults Rs 62,000 crore higher than before Covid pandemic

Public sector banks accounted for 77.4 per cent of the total amount outstanding at Rs 5.3 trillion as of June

Sahakar Bharati may seek tweaks in PMC Bank's draft merger scheme

Five-year interest holiday and final settlement at end of 10 years unfair to depositors

Bad-loan market may see a flurry of activity after lull of past few years

The bad loan market may get a boost from the fact that Centre may not indulge state-run banks anymore by recapitalising them as in the past

Govt to set up working groups to prepare action plan: Bank officials

Finance ministry is likely to constitute working groups which will define action plans that will be aimed at providing seamless credit flow to various sectors, bank executives said

Strengthening financial sector

Governance in the banking system needs to be improved

Banking sector strong today due to current regime's reforms: PM Modi

Banks have to adopt a partnership model and reach out to their customers in a proactive manner, Modi said

Dip in provisions helps PSB profits jump 94% to Rs 17,312 crore in Q2

The second quarter marked a gradual improvement after experiencing a setback from the pandemic in the April-June period.