Page 6 - Public Sector Banks Psbs

FinMin to provide capital support from Rs 20k cr fund to some PSBs in Q3

The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter, sources said

Best of BS Opinion: PSB reforms, ineffectiveness of raising tariffs & more

Here's a selection of Business Standard opinion pieces for the day

Untenable status quo

A new paper shows the need for urgency of PSB reforms

PSBs report 2,867 cases of frauds worth Rs 19,964 cr in April-June qtr: RBI

Of the 12 PSBs, SBI reported the maximum 2,050 fraud cases involving Rs 2,325.88 crore during April-June 2020

Worries as NPAs under Mudra scheme rise to 5% for public sector banks

The NPAs of public sector banks (PSBs) under the Mudra scheme stood at 4.9 per cent in 2019-20 - a big jump from 3.7 per cent in 2018-19 and 3.4 per cent in 2017-18

Ministries, PSUs, banks to stop printing calendars, diaries, greeting cards

The decision has been taken given the fact that using technological innovations for planning, scheduling and forecasting is known to be economical, efficient and effective

PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1

The country's second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.

Centre may empower public sector banks to induct non-executive directors

Recommendations of P J Nayak Committee could see the light of day

Even with Covid, our fresh slippages will be in control: SBI chairman

We believe most customers would start paying EMIs from September as the moratorium comes to an end, said Rajnish Kumar

Clean up balance sheets of corporates, banks to rein in fiscal deficit: IMF

In its external sector report, IMF also called upon India to strengthen the governance of public sector banks

Exxon loses $1 bn in second quarter as oil use dries up amid lockdown

The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year

Moratorium burden easing as Indian economy limps back to normalcy

Agents are now able to pay visits for recovery, and also the economic situation has not turned as dire as feared

PSBs shouldn't be privatised, reduce govt stake to 26%: RBI Board member

RBI Board member Satish Marathe said public sector banks need an overhaul of their systems, processes and staff attitudes to be relevant and effective in the future

Banks sanction Rs 1.27 trn loans to MSMEs under credit guarantee scheme

However, disbursements against this stood at Rs 77,613 crore till July 20 under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs)

Top headlines: Glenmark defends FabiFlu, Covid antibody in Delhi residents

Here are the top headlines of the day

Stressed assets

PSBs will need capital to finance economic revival

PNB gets board go-ahead to tap market for raising Rs 10,000 crore

The Government of India currently holds 85.59 per cent stake in the bank.

RBI's moratorium helps public sector banks post lower NPAs in Q4

On aggregate basis, gross NPAs of 8 PSBs improve by 132 bps

PSBs lead in disbursing loans to MSMEs under credit guarantee scheme

The bulk of the disbursed amount -about two-third- was contributed by public sector banks.

PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector