Page 15 - Psbs
Sitharaman to meet PSB CEOs on Oct 14, discuss credit offtake, other issues
Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) next week to discuss various issues, including progress on credit offtake. The meeting, scheduled to be held on October 14, is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to present report card on partial credit guarantee scheme and fund raising from market to enhance their capital base. The Centre in August issued guidelines on operationalising Rs 1 lakh crore partial guarantee scheme under which PSBs can purchase high-rated pooled assets of financially sound non-banking finance companies (NBFCs). 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. Besides, the meeting will also assess the progress of first phase of outreach programme held across 250 districts across the country. This .
 "Sitharaman to meet PSB CEOs on Oct 14, discuss credit offtake, other issues")
The way forward for public sector banks
Regulation and supervision of all banks should be made ownership neutral
 "The way forward for public sector banks")
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
 "FM Nirmala Sitharaman announced loan 'mela' despite banks' reluctance")
As bank mergers loom, PSB contractual workers stare at job losses
Most PSBs have already been closing down ATMs, as well as doing away with security guards in the existing ones
 "As bank mergers loom, PSB contractual workers stare at job losses")
Top 10 biz headlines: LIC equity takes hit, rising crude prices, and more
From LIC equity kitty taking a hit to crude oil prices rising due to shortage in supply, here are the top 10 business headlines on Tuesday
 "Top 10 biz headlines: LIC equity takes hit, rising crude prices, and more")
Public sector banks seek relaxation on risk weight for NBFC loan purchases
Banks have to set aside capital for loan exposures
 "Public sector banks seek relaxation on risk weight for NBFC loan purchases")
Best of BS Opinion: The legacy issues of PSBs, Apple's new bite and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: The legacy issues of PSBs, Apple's new bite and more")
18 PSBs hit by 2,480 cases of fraud of over Rs 31,000 cr in Q1: RTI
As many as 1,197 cases of cheating involving Rs 12,012.77 crore were detected in SBI in the first quarter, according to the RTI reply
 "18 PSBs hit by 2,480 cases of fraud of over Rs 31,000 cr in Q1: RTI")
Banks form GM-level teams for merger ease, may hire advisory firms
Banks are also weighing the option of hiring experts for help in specialised areas
 "Banks form GM-level teams for merger ease, may hire advisory firms")
Mega merger of public sector banks is a good move, but ill-timed: Analysts
Fear of credit growth, particularly for larger banks, spooked PSB stocks on Tuesday
 "Mega merger of public sector banks is a good move, but ill-timed: Analysts")
Bank merger will slow down loan growth, rivals likely to benefit: Analysts
Futures contracts on India's Nifty 50 Index dropped 1% in Singapore on Monday
From return on assets to employee cost, private banks surpass PSBs
The cost per employee is the highest in large public sector banks
 "From return on assets to employee cost, private banks surpass PSBs")
Latest PSB merger could create Rs 5,000 cr business in IT outsourcing
Including consultancy companies, around Rs 5,000 crore of business could be generated
 "Latest PSB merger could create Rs 5,000 cr business in IT outsourcing")
Branch rationalisation to HR challenge: Brokerage view on PSB consolidation
Unlike private banks, most PSBs, analysts say, do not have clear specialisations and end up competing against each other
 "Branch rationalisation to HR challenge: Brokerage view on PSB consolidation")
PSBs consolidation building block for $5 trillion economy: Finance secy
The consolidation will help create strong and globally competitive banks with economies of scale and enable realisation of wide-ranging synergies, he said
 "PSBs consolidation building block for $5 trillion economy: Finance secy")
Market salary for a few in a public sector bank could be a chimera
The possibility is that high calibre chief risk officers in the PSBs already earn Rs 1 crore to Rs 2 crore, whereas even SBI chairman could be earning less than Rs 30 lakh
 "Market salary for a few in a public sector bank could be a chimera")
Demand in economy has to match credit expansion: Finance Secy Rajiv Kumar
We have budgeted Rs 70,000 crore for this year, says Finance Secretary Rajiv Kumar
 "Demand in economy has to match credit expansion: Finance Secy Rajiv Kumar")
Consolidation of public sector banks may boost sentiment in the near term
Lower MTM provisioning already making these lenders attractive
 "Consolidation of public sector banks may boost sentiment in the near term")
How the mergers will impact your bank accounts, debit cards and EMIs
If you book a new fixed deposit or take a fresh loan, the rate will be decided by the merged entity
Govt moves to reform bank boards: The six new rules you should know
Experts say it won't be easy to appraise general managers because the board won't be knowledgeable enough
 "Govt moves to reform bank boards: The six new rules you should know")