Page 8 - Psbs

PSBs' Q2 net profits zoom 50% YoY on steady rise in interest income

Strong loan growth, rising lending rates give the boost

Nifty PSU Bank index hits record high; Indian Bank surges 22% in one week

In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50

PSBs asked to expedite recruitment, fill vacancies in time-bound manner

The finance ministry has asked public sector banks (PSBs) to expedite the process of filling pending vacancies, sources said. The ministry had reviewed the vacancies in PSBs earlier this month and advised them to take action to fill them. Finance Minister Nirmala Sitharaman on Tuesday had directed PSBs to fill the backlog vacancies of Scheduled Castes (SCs) in a time-bound manner. The total employees strength of PSBs peaked at 8.86 lakh during 2012-13. It declined to 7.80 lakh during 2020-21. Banks have started issuing advertisements for recruitment. The country's biggest lender State Bank of India (SBI) has issued advertisements for recruitment of 1,673 probationary officers. Of this, 1,600 are regular vacancies while 73 are backlog cases. Due to COVID-19, the recruitment process got impacted and as a result there are some backlogs which will be filled in due course of time, a senior PSB official said. Besides, Central Bank of India has issued advertisements seeking applications

Top Headlines: PSBs to hire on monthly basis, Sebi goes to SC, and more

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against New Delhi Television (NDTV), the media company said

Public sector banks to open 316 branches in financial inclusion drive

Brick and mortar branches to be opened by December 2022; progress was shared in PSB review

Despite 22% jump in 3 months, analysts see more upside in Nifty PSB index

Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 21 per cent and 34 per cent during the period

PSBs recover Rs 6.42 trn NPAs, written off loans since from FY15 to FY22

From FY16 to FY21, the central government has infused Rs 3.36 trillion of capital in PSBs, while banks have raised an additional Rs 2.99 trillion from the markets

All 12 public sector banks go live on account aggregator network

Around 0.97 million accounts have been linked to the ecosystem so far; around 0.93 million consents have been given during the same period

Eight PSBs join the account aggregator ecosystem ahead of deadline

The remaining four, which are in the testing phase, could be inducted soon

Govt draws up plan to bolster PSU bank boards, hold directors accountable

With amendments to banking Act, it seeks to notify tenure for chairman

Nationalisation, consolidation and privatisation

Merely bringing down the government stake below 51 per cent may not find any taker for the PSBs. Is the government ready to give up its powers?

Centre should privatise all PSBs, except State Bank of India: NCAER

First 2 banks for privatisation should be those with good asset quality and low NPA, says the report

Top Headlines: PSBs shareholding cap, growth of top firms, and more

The central government is seeking to remove the 10 per cent shareholding cap for individuals in public sector banks (PSBs). Read more in our top headlines

Centre likely to remove 10% shareholding cap for individuals in PSBs

Removal of threshold may allow PE firms to own over 10% stake in state-run banks

IBA seeks bids from advisory firms for designing PSBs development programme

Industry body IBA has invited bids from advisory firms and institutes to design and deliver a leadership development programme for public sector banks (PSBs)

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

Govt looking for complete exit with the help of PSB Privatisation Bill

The government is mulling an amendment that will allow the Centre a total exit from banks, fully privatising PSBs, a report said

Account aggregator system for credit access all set to onboard GSTN, PSBs

It is also in talks with insurance behemoth Life Insurance Corporation (LIC) to start the onboarding process

Expedite NPA resolution, focus on credit growth: Finance ministry to PSBs

Banks have been asked to put up branches in unbanked villages

Support Agniveers after tenure completion: FinMin to PSBs, insurance firms

Post the announcement of the scheme protests have erupted across several states with the Opposition slamming the centre for hastily drawing up the plan