Business Standard

Psu Banks

SBI stock hits 3-month high ahead of Q2 results; gains 10% in 2 weeks

Analysts believe SBI could sustain its outperformance (vs. private peers) in unsecured retail in the current environment, as delivered during the pandemic.

SBI stock hits 3-month high ahead of Q2 results; gains 10% in 2 weeks
Updated On : 07 Nov 2024 | 3:10 PM IST

Finance ministry asks PSU banks to meet loan targets for agri-allied sector

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 ...

Finance ministry asks PSU banks to meet loan targets for agri-allied sector
Updated On : 06 Nov 2024 | 7:07 PM IST

Public sector bank heads at BS BFSI Summit: The best is still to come

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

Public sector bank heads at BS BFSI Summit: The best is still to come
Updated On : 06 Nov 2024 | 12:51 PM IST

Holidays in November 2024: Banks will be shut for 12 days across states

The list of bank holidays in November includes public observances, religious festivals, and weekends, with closures differing based on state-specific events and celebrations

Holidays in November 2024: Banks will be shut for 12 days across states
Updated On : 01 Nov 2024 | 8:47 AM IST

Nifty Fin Services, PSU Bank: Check support, resistance & other key levels

The Nifty Financial Services Index has recently shown a positive breakout from its consolidation phase, with a strong close above 23,911.

Nifty Fin Services, PSU Bank: Check support, resistance & other key levels
Updated On : 22 Oct 2024 | 7:00 AM IST

PSU banks' compensation against fraud rises over three-fold to Rs 140 cr

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

PSU banks' compensation against fraud rises over three-fold to Rs 140 cr
Updated On : 06 Aug 2024 | 5:10 PM IST

IDBI Bank stock gains 3% as RBI okays 3 bidders for majority stake sale

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.

IDBI Bank stock gains 3% as RBI okays 3 bidders for majority stake sale
Updated On : 02 Aug 2024 | 12:02 PM IST

Bank of Baroda to recover Rs 10K cr from bad loans in FY25, says CEO

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

Bank of Baroda to recover Rs 10K cr from bad loans in FY25, says CEO
Updated On : 01 Aug 2024 | 2:28 PM IST

Stocks to Watch on Budget 2024 day, July 23: Defence, Railways, Banks, Agri

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

Stocks to Watch on Budget 2024 day, July 23: Defence, Railways, Banks, Agri
Updated On : 23 Jul 2024 | 8:10 AM IST

Four PSU banks present dividend cheques worth Rs 6,481 cr to govt

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.

Four PSU banks present dividend cheques worth Rs 6,481 cr to govt
Updated On : 10 Jul 2024 | 9:27 PM IST

Bank holidays in July: Banks to remain closed for 12 days; details here

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

Bank holidays in July: Banks to remain closed for 12 days; details here
Updated On : 01 Jul 2024 | 9:52 AM IST

CLSA thinks pvt banks may outperform PSBs ahead; check reasons, top picks

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

CLSA thinks pvt banks may outperform PSBs ahead; check reasons, top picks
Updated On : 17 Jun 2024 | 10:50 PM IST

Fund managers pruned PSU exposure ahead of election result-day crash

Sold shares of 9 PSUs worth Rs 9,570 crore in May

Fund managers pruned PSU exposure ahead of election result-day crash
Updated On : 13 Jun 2024 | 12:18 AM IST

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%
Updated On : 03 Jun 2024 | 1:40 PM IST

Nifty Bank hits 50,000 mark for the first time ever; Check key reason

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

Nifty Bank hits 50,000 mark for the first time ever; Check key reason
Updated On : 03 Jun 2024 | 10:23 AM IST

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%

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

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%
Updated On : 27 May 2024 | 2:48 PM IST

Indian Overseas Bank aims to open 88 new branches in FY2024-25, says CEO

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.

Indian Overseas Bank aims to open 88 new branches in FY2024-25, says CEO
Updated On : 24 May 2024 | 10:25 AM IST

The nomadic life of a PSU banker

Here's a peek into the life of a public sector banker who did well professionally, but paid a price for it

The nomadic life of a PSU banker
Updated On : 19 May 2024 | 4:33 PM IST

RBI provisioning norms singe PSU banks, infrastructure financers

Move will impact RoE, networth, say analysts

RBI provisioning norms singe PSU banks, infrastructure financers
Updated On : 06 May 2024 | 10:51 PM IST

Froth remains in select PSU stocks; Q4, a test for sustainable financials

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

Froth remains in select PSU stocks; Q4, a test for sustainable financials
Updated On : 21 Mar 2024 | 12:37 AM IST