Page 10 - Public Sector Banks

UCO fraud fallout: FinMin to meet PSB chiefs next week on cyber security

Sources said that such frauds occurred a couple of times before involving some other public sector banks but went largely unnoticed as the amount involved was small

State Bank of India, BoB target 1 million user base in retail CBDC

Separately, Balaji Rajagopalan, SBI's Chief Technology Officer, said that the target is to achieve 1,000,000 users by the end of December from the existing 400,000 users

UCO Bank recovers 79% of wrongly credited amount after IMPS glitch

UCO Bank on Thursday said that it has initiated requisite actions to recover the remaining Rs 171 crore

RBI's unpredictability on NDF market makes lenders wary, say bankers

Already banks are reducing the size of their books -- from about $25 billion last year to under $1 billion now, in the case of a large public sector bank

Governance reforms to ensure higher growth for longer, say PSB chiefs

At BS BFSI Summit, Ashwani Kumar, MD, UCO Bank said the high frequency indicators like GST collections, e-way bills and order book of companies signal that growth momentum is likely to continue

Swimming against the tide

In this age of AI, creating an employee-first culture may seem counter-intuitive. But not if you believe in the primacy of building human relationships at the workplace

BS BFSI Summit: From C S Setty to Ashwani Kumar, here're key PSB experts

Public-Sector Bank CEOs Panel's theme on October 31: Are the good days here to stay?

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