Analysts believe SBI could sustain its outperformance (vs. private peers) in unsecured retail in the current environment, as delivered during the pandemic.
The finance ministry has asked public sector banks (PSBs) to meet loan targets for the agri-allied sector during the current financial year. Department of Financial Services Secretary M Nagaraju in a meeting held on Tuesday reviewed the progress of credit disbursement to agri-allied activities like animal husbandry, dairying and fisheries with Public Sector Banks (PSBs), NABARD and State/ UT Level Bankers' Committee. Representatives of state governments/UTs, the Department of Animal Husbandry & Dairying and the Department of Fisheries also participated in the discussions, the finance ministry said on Wednesday. The secretary urged PSBs to take all necessary steps to ensure that respective targets are met during the current financial year and stressed the state governments to facilitate banks in improving the flow of credit to these sectors. Nagaraju underscored the importance of the allied sector in driving agricultural growth and its employment potential in rural areas and ...
Heads of public sector banks discuss the present and future of the banking sector in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit
The list of bank holidays in November includes public observances, religious festivals, and weekends, with closures differing based on state-specific events and celebrations
The Nifty Financial Services Index has recently shown a positive breakout from its consolidation phase, with a strong close above 23,911.
Public sector banks have reported over three-fold jump in compensation towards frauds or e-frauds reported by their customers to Rs 140 crore during 2023-24, Parliament was informed on Tuesday. The amount of compensation paid by these banks stood at Rs 42.70 crore in the previous fiscal, Finance Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha. Union Bank of India paid the highest compensation of Rs 74.96 crore followed by Bank of India at Rs 20.38 crore and Indian Bank at Rs 16.16 crore during FY24, she said. In FY23, Union Bank of India was again the highest compensation payer at Rs 12.18 crore followed by Central Bank of India at Rs 11.68 crore. Sitharaman further said that RBI, in July 2017, issued instructions on limiting the liability of customers in cases of unauthorised electronic banking transactions. As per these instructions, a customer has zero liability if the unauthorised transaction occurs on account of contributory fraud or negligence/deficien
The finance ministry is likely to provide private data room access to potential bidders of IDBI Bank as soon as next week after it received a fit and proper nod for three suitors from the RBI.
Bank of Baroda recovered Rs 1,005 crore from bad debt in April-June, of which a major portion was small-ticket loans, the chief executive said
Stocks to Watch today, July 23, 2024: The Narendra Modi-led Bharatiya Janata Party (BJP) is all set to present its first Budget under its third term
Four public sector banks, including Canara Bank and Indian Bank, on Wednesday presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for financial year 2023-24. "Smt @nsitharaman receives a dividend cheque of Rs 2,514.22 crore for FY 2023-24 from Shri Debadatta Chand, Managing Director & CEO -@bankofbaroda," the finance ministry said in a post on X. Similarly, a dividend cheque of Rs 1,838.15 crore was handed over by Canara Bank MD and CEO K Satyanarayana Raju. Chennai-based Indian Bank paid a dividend cheque of Rs 1,193.45 crore for 2023-24. Bank of India too paid a dividend of Rs 935.44 crore and the cheque was presented by its MD and CEO Rajneesh Karnatak. In addition, Mumbai-based financial institution EXIM Bank presented a dividend cheque of Rs 252 crore for 2023-24.
The RBI publishes a list of bank holidays each month, advising customers to check the list to avoid unnecessary trips to the bank on holidays
CLSA expects private sector banks, which have been stock market laggards over the past few months, to give better returns ahead, given a good business outlook and inexpensive valuations
Sold shares of 9 PSUs worth Rs 9,570 crore in May
India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.
Surpassing the 50,000-mark for the very first time, the index's ascent can also be attributed to robust Q4 GDP figures, and S&P recent upgradation of India's rating to positive
PSU bank stocks news: The Indian banking industry has been on an upward trajectory aided by strong economic growth, rising disposable incomes, increasing consumerism and easier access to credit
Public sector Indian Overseas Bank has drawn up plans to set up 88 new branches across India this financial year, a top official has said. The city-headquartered bank under its expansion drive recently inaugurated a new branch in Nagapattinam and the 126th ATM in neighbouring Puducherry. Indian Overseas Bank Managing Director and CEO Ajay Kumar Srivastava after inaugurating the 3,240th branch of the bank at the Medical College in Nagapattinam highlighted the bank's aggressive plans, a press release said here on Friday. He stated that Indian Overseas Bank aims to open 88 new branches across India this year, with 8 branches targeted specifically in Puducherry, Cuddalore, Nagapattinam and Mayiladuthurai districts to serve the unbanked rural areas. Indian Overseas Bank is committed to introduce innovative banking products to suit customer needs. The bank's total business crossed Rs 5 lakh crore, showcasing substantial growth, the release added.
Here's a peek into the life of a public sector banker who did well professionally, but paid a price for it
Move will impact RoE, networth, say analysts
Among PSUs, Railway stocks such as Rites, IRFC and IRCTC dipped by 21.3 per cent, 8.1 per cent and over 2 per cent respectively in March, Ace Equity data shows