Page 16 - Public Sector Banks

We are on the path of recovery, says Bank of Baroda CEO Sanjiv Chadha

Broadly the trend we have seen is that retail is growing faster than corporate loans, said Chadha

High interest rates do not deter home buyers, says BoB research report

High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May. The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic. The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector. With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...

Canara Bank to raise up to Rs 3,500 crore through Tier II bonds

Its last capital raise via Tier II bonds for Rs 2,500 crore was in December 2021 at coupon of 7.09 per cent

FSIB recommends 14 GMs for position of EDs in state-owned banks

The Financial Services Institutions Bureau, the headhunter for directors of state-owned banks and financial institutions, on Tuesday recommended the elevation of 14 general managers for the post of executive directors in various banks. The Financial Services Institutions Bureau (FSIB) interviewed 57 candidates between August 19-23 for recommending suitable names for executive directors (EDs) in public sector banks (PSBs). Keeping in view their overall experience, the bureau selected 14 Chief General Managers and GMs for elevation to the executive director, FSIB said in a statement. Some of the successful candidates include Lalit Tyagi, Binod Kumar, Ashok Chandra, Ramasubraman S, M K Jain, M Paramsivam, Subrat Kumar, M V M Krishna and R K Saboo. Sanjay Vinayak Mudaliyar, Hardeep Singh Ahluwalia, Ashutosh Choudhury, Sanjay Rudra and Lal Singh were also selected. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet, headed by Prime

Mortgaged property e-auctioning portal of PSBs is set for a makeover

The common electronic platform to auction mortgaged properties of PSBs is set to get a makeover with plans to make all processes in the auctioning life cycle seamless and more us

Govt's approach to PSB privatisation would result in better outcomes: RBI

The RBI issued this clarification after RBI's researchers argued in a recent article that a gradual approach to the privatisation of the public sector banks (PSBs) in India is better than the big bang

Big-bang privatisation of PSUs can be harmful, says RBI article

The study has found that labour cost efficiency is higher in PSBs in comparison to private banks

Lower bad loans push PSU banks' profitability in June quarter: Analysis

Cumulatively, all the 12 public sector banks reported a profit of about Rs 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent.

India at 75: What's the way ahead for govt on privatisation, asset sales

While the govt has secured a big win by privatising Air India, it is still far from its initial goal of privatising majority of PSUs

Top Headlines: FPIs cut stake in BSE firms, pharma eyes $400 bn turnover

The Centre's recent move to impose GST on services rendered by the markets regulator, Securities and Exchange Board of India (Sebi), has rattled FPIs

Centre asks IBA to ready EASE-like plan for regional rural banks

The banks' lobby group has been asked to assist with the preparation of the viability plan for RRBs

Profit of public sector banks rises 9% to Rs 15,306 cr in June qtr

Of the total 12, three lenders -- SBI, PNB and Bank of India -- reported fall in their profits ranging from 7%-70%

PSBs recover Rs 6.42 trn NPAs, written off loans since from FY15 to FY22

From FY16 to FY21, the central government has infused Rs 3.36 trillion of capital in PSBs, while banks have raised an additional Rs 2.99 trillion from the markets

All 12 public sector banks go live on account aggregator network

Around 0.97 million accounts have been linked to the ecosystem so far; around 0.93 million consents have been given during the same period

Bank of India's Q1 profit declines 22% to Rs 561 cr as provisions rise

Fall in non-interest income, rise in bad loan provisions drag down company's net

Eight PSBs join the account aggregator ecosystem ahead of deadline

The remaining four, which are in the testing phase, could be inducted soon

Union Bank of India Q1 net profit rises 32% YoY to Rs 1,558 crore

Eyes QIP for equity up to Rs 3,500 cr in Q3FY23

Frauds reported by PSBs decline to Rs 3,204 cr in FY22: MoS Finance

In 2020-21, PSBs reported 4,680 fraud cases of Rs 7,306 crore, which declined to 2,369 cases corresponding to Rs 3,204 crore in 2021-22, he added.

RBI hikes capital adequacy ratio for urban cooperative banks to 12%

Rule applies to banks with deposits above Rs 100 crore; glide path till March 2026, to meet revised CAR norm in phases for UCBs that do not meet it currently

Bank fraud cases decline by about 50% in FY22: MoS Finance tells Parliament

The amount involved in the frauds too declined to Rs 3,204 crore from Rs 7,306 crore in 2020-21.