Page 10 - Public Sector Banks

PNB Q2 results: Net profit surges 327% to Rs 1,756 cr, gross NPAs at 6.9%

PNB Q2 results: The bank's gross non-performing assets (NPAs) fell to 6.96% as of September 30, as compared to 7.73% in the previous quarter

Centre aiming to review list of public banks up for privatisation: Report

A panel may also decide the quantum of shareholding that the government would dilute in banks while deciding the weightage to be given to banks

Kisan Vikas Patra Yojana 2023: check eligibility, interest rates, and more

Kisan Vikas Patra is an Indian government scheme which was launched by the Indian government. It was initially started to help farmers but now anyone can leverage its advantages

Govt clears appointments of 12 executive directors for state-owned banks

The government has approved the appointments of 12 general managers as executive directors (EDs) of various public sector banks (PSBs). According to sources, the Appointments Committee of the Cabinet on Saturday approved the appointments of 12 EDs. As per the government order, Sanjay Rudra, general manager, Bank of Maharashtra, has been appointed ED, Union Bank of India. Another GM from the same bank, Vijaykumar N Kamble will take over as ED of UCO Bank. Besides, sources said, Bhavendra Kumar, currently Chief General Manager with Canara Bank, has been elevated to become ED of the same bank. Bibhu Prasad Mahapatra, Chief General Manager of Punjab National Bank, has been elevated as ED of the bank, while Ravi Mehra, general manager, has been promoted to become ED of Punjab & Sind Bank. Rajiv Mishra, Chief General Manager with Union Bank of India, will take over as ED of Bank of India, and Brajesh Kumar Singh, Chief General Manager of Bank of Baroda, will join Indian Bank as ED in ..

Healthy loan book growth likely to drive profitability of banks in FY24

Analysts at the agency maintained a positive outlook on the banking sector amid expectation that credit growth in the banking sector in the financial year 2023-24

As credit growth outpaces deposits, banks may increase interest on FD

Bank deposits have gone up by 6.6 per cent to reach Rs 149.2 trillion during the April-August 2023 period, whereas the credit growth for the same period was 9.1 per cent

PSB Alliance to provide door-step banking services in 6,800 centres

At present, pure-play supply chain finance from banks is only around Rs 1 trillion

PSBs have to be very fast with public dealing: Parliamentary committee

Citing increased workload, a parliamentary committee has said public sector banks have to be very fast with public dealing besides being absolutely updated on the latest technology. In its latest report, the panel also said the pattern of recruitment examination needs to be changed from time to time taking into account the nature of the work of the bankers so that accuracy and speed of the prospective candidates are properly evaluated. "The philosophy of speed and accuracy required by bankers are changing from time to time. Around 10 years back, the workload and the nature of work perhaps did not need any speed or accuracy. "But today, speed and accuracy play a very important role owing to the hundreds of central and state schemes being executed by the bankers and the nature of pro-poor schemes launched by the government," the Department-Related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice has said. The Committee emphasised that because of the .

DFS secretary expects general insurers to post record profit like PSBs

Bima Vahak, Bima Vistar, Bima Sugam will be game changer, says Irdai chairman

Indian banks to witness record profitability in FY24: SBICAPS report

It added that the repo rate is expected to remain at current levels until late in FY24

'Diversify credit portfolio': FinMin flags concentration risk at 5 PSBs

BoI, PNB, UCO, Canara, and Punjab & Sind Bank told to trim exposure to any particular group or industry

Public sector banks' lending to state govt units down 20% in FY23

The moderation in lending follows the Reserve Bank of India's missive to lenders for not doing enough due diligence and monitoring the end use of funds

Canara Bank Q1FY24 net up 74.81% to Rs 3,534.8 crore, NII up 27.7% YoY

The asset quality profile improved, with gross NPAs declining to 5.15 per cent in June 2023 from 6.94 per cent in June 2022

Canara Bank reports profit surge of 75% to Rs 3,535 cr in June quarter

State-owned Canara Bank on Monday reported a 75 per cent rise in net profit at Rs 3,535 crore in the June quarter, helped by decline in bad loans and growth in interest income. The Bengaluru-based lender had posted a net profit of Rs 2,022 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 29,828 crore, from Rs 23,352 crore in the same period a year ago, Canara Bank said in a regulatory filing. Interest earned by the bank improved to Rs 25,004 crore over Rs 18,177 crore in June 2022. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 5.15 per cent of gross advances at the end of the June quarter, from 6.98 per cent a year ago. Similarly, net NPAs or bad loans declined to 1.57 per cent, as against 2.48 per cent in the year-ago period. As a result, provision for bad loans came down to Rs 2,418 crore, as against Rs 2,673 crore allocated in the same quarter a year ago. Capital Adequacy Ratio of

RBI to banks: Report all digital frauds not just those above Rs 1 lakh

The rising volumes of UPI transactions and related frauds have emerged as a major challenge for the banks

IndusInd Bank Q1FY24 results: Net profit up 30%, gross bad loans at 1.94%

The net NPAs fell to 0.58 per cent from 0.67 per cent during the period

RBI governor asks banks to remain extra careful, focus on governance

The governor held meetings with the MD and CEOs of public sector banks and select private sector banks

FinMin tells PSBs to explore AI-powered collab in tech, HR training

The ministry cautioned PSBs on customer protection when critical services, including technology services, were outsourced

PSBs should follow transparent NPA recognition norms, pursue risk mgmt: FM

Finance Minister Nirmala Sitharaman on Thursday asked heads of public sector banks (PSBs) to ensure fair and transparent recognition of bad loans and pursue robust risk management practices so as to maintain the momentum of growth and profitability. PSBs earned a record aggregate net profit of around Rs 1.05 lakh crore in FY2022-23, almost triple from net profits earned in 2013-14. In the review meeting with the top management of PSBs, discussions were held on the positive macro trends, improved business sentiments, Twin balance sheet advantage' and performance of the state-run banks. All the major financial parameters viz., credit deployment, profitability, asset quality, capital adequacy etc. indicate that the performance of PSBs has significantly improved. They're adequately capitalised, resilient, and have sound financial health. It was noted that the asset quality of PSBs has improved significantly with gross NPAs at 4.97 per cent and net NPAs at 1.24 per cent in March 2023, t

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