Page 3 - Psb

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Bank of India becomes first bank to offer Mahila Samman Savings Certificate

The scheme was announced by Union Finance Minister Nirmala Sitharaman during her Budget speech this year

Pvt banks' slippages from Covid recast nearly double than that of PSBs

Private sector banks' slippages and write-offs from loans restructured after the COVID-19 pandemic are nearly double than that of their state-owned peers, a report said on Friday. Private sector banks have seen slippages and loan write-offs at 44 per cent, as against 23 per cent in case of public sector banks, the report by India Ratings and Research (Ind-Ra) said, calling the trend surprising. The domestic rating agency analysed annual results of lenders for FY23. It found that the peak of restructured assets in bank books was in September 2022, when the overall quantum of recast loans had touched Rs 2.2 lakh crore. While there could be some more slippages, banks are of the view that the performance of the restructured portfolio would broadly mirror the performance of the overall portfolio, it said. It can be noted that in the aftermath of the pandemic, which led to a hasty lockdown that led to a contraction in the economy, the RBI had announced a restructuring scheme followed by

IDBI Bank to stay pvt sector bank post-sale; govt's 15% as public holding

IDBI Bank will continue to operate as an 'Indian private sector bank' after its strategic sale and the government's residual 15 per cent stake in the lender post privatisation will be considered as 'public shareholding', the finance ministry said on Sunday. An 'appropriate dispensation' for the new owner to achieve minimum public shareholding (MPS) over an extended period is under consideration and the winning bidder will have no restriction on undertaking corporate restructuring of the subsidiaries of IDBI Bank, it added. These clarifications are part of the responses by the Department of Investment and Public Asset Management (DIPAM), under the finance ministry, to potential investors' pre-EoI queries. The government had on October 7 invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The last date for putting in Expression of Interest (EoI) or preliminary bids is December 16. The ...

Finmin reviews PSBs' financial performance, progress on financial inclusion

The banks' performance was measured on parameters such as credit growth, asset quality and recoveries; they were also assessed on penetration of insurance schemes

Centre seeks to grant bank licence to PSBs to enable privatisation

The government is exploring several options to address the issue for enabling privastisation of PSBs

Core worth of PSB capital bonds half that of similar other paper: Ind-Ra

The illiquid, non-trading nature of these securities could add to the discount. So it may not strengthen their tangible equity by as much but may bolster regulatory norms

Privatisation a difficult choice for govt: Exit from PSBs roadmap explained

In this podcast, Business Standard's Subhomoy Bhattacharjee explains why the Centre again discussing the topic of government owned bank privatisation and more

PSBs rally on privatisation buzz; Nifty PSU Bank index up 2%; PNB gains 4%

Canara Bank, Bank of Maharashtra, Bank of Baroda, and State Bank of India surged between 2.6 per cent and 6 per cent in the intra-day trade today

RBI asks PM Modi to trim govt stake in state-owned banks to 26%: Report

Chief executives of public sector lenders must get longer tenures: Central bank reportedly tells PM in meeting with financial regulators.

Union Bank revamps Insurance distribution channels post amalgamation

Bank executives said Reliance General Insurance is no longer part of tie-up under new arrangement

FM Sitharaman to review banking situation, credit offtake with PSB chiefs

The meeting was earlier scheduled on May 11, but due to the stimulus package announcements, it was deferred, they added

Mumbai varsity deposits to be moved from YES Bank to PSBs: Maharashtra govt

Minister Uday Samant made the announcement after Shiv Sena MLC Maneesha Kayande raised the issue in the Legislative Council

Oriental Insurance pegs capital need of around Rs 3000 crore in FY21

The actual growth plan would be finalized on the basis of capital support the insurer gets from the government

Letter to BS: Economic slowdown hits debt-servicing capacity of borrowers

Since income generation from economic activities and jobs is crucial to the recovery of bad loans, focusing simply on the effectiveness of the recovery tools will hardly make a difference.

Public sector bank unions decide to join national strike called on Jan 8

Workers from both the organised and unorganised sector are expected to participate in this strike

Amalgamated entity of 3 PSBs to retain sovereign status: UBI chief

The merger of the three PSBs is scheduled to come into force from April 1 next year.

Post-merger preparations: PNB seeks time to offload stake in insurance JV

Union Bank holds around 46 per cent stake in Star Union Dai-ichi Life Insurance and Andhra Bank is a part of IndiaFirst Life Insurance with 30 per cent stake

FM Nirmala Sitharaman announced loan 'mela' despite banks' reluctance

PSB executives were not too sure if they would be able to not classify all the stressed loans of micro, small, and medium enterprises (MSMEs) as non-performing assets (NPAs) till March 2020

Loan 'melas' are back: PSBs to hold credit meets in 400 districts, says FM

Stressed MSME assets will not be labelled NPAs till March 31, 2020