Page 17 - Public Sector Banks

Govt draws up plan to bolster PSU bank boards, hold directors accountable

With amendments to banking Act, it seeks to notify tenure for chairman

No benefits from consolidation of state-owned banks: Bank unions

They say no benefits were seen from previous rounds

Centre should privatise all PSBs, except State Bank of India: NCAER

First 2 banks for privatisation should be those with good asset quality and low NPA, says the report

Centre likely to remove 10% shareholding cap for individuals in PSBs

Removal of threshold may allow PE firms to own over 10% stake in state-run banks

IBA seeks bids from advisory firms for designing PSBs development programme

Industry body IBA has invited bids from advisory firms and institutes to design and deliver a leadership development programme for public sector banks (PSBs)

Banks' Q1 net profit growth estimated at 47% as lending stays strong

According to Bloomberg's data on analysts' estimates, net profits of the 12 listed banks in Q1FY23 will grow 47 per cent YoY and shrink 7.8 per cent sequentially

PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%

Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%

Public sector banks shut down 2,044 branches in FY22, says AIBEA report

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday.

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Private banks are better money managers, state-owned lenders grow faster

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink

Account aggregator system for credit access all set to onboard GSTN, PSBs

It is also in talks with insurance behemoth Life Insurance Corporation (LIC) to start the onboarding process

Yes Bank launches FD linked to repo rate, with mark-up of 1.1-1.6%

Lender also raises interest rates on standard FDs, capping them at 6.5% for regular customers, 7.25% for seniors

Expedite NPA resolution, focus on credit growth: Finance ministry to PSBs

Banks have been asked to put up branches in unbanked villages

FM to meet heads of PSBs on Monday; may urge them for credit growth

The Finance Minister is said to take stock of credit growth, asset quality, and business growth plan of banks

FM Nirmala Sitharaman set to review govt banks' financials on Monday

Loan recovery, bad loans over Rs 100 crore to be reviewed

FM to meet heads of PSBs on June 20; may nudge them for loan growth

The Finance Minister would take a stock of credit growth, asset quality and business growth plan of banks

Support Agniveers after tenure completion: FinMin to PSBs, insurance firms

Post the announcement of the scheme protests have erupted across several states with the Opposition slamming the centre for hastily drawing up the plan

Indian PSBs plan to exit Hong Kong as strict regulations, Covid woes pinch

State Bank of India (SBI) will likely be the only PSB in Hong Kong, alongside private sector banks ICICI and HDFC

Nirmala Sitharaman launches EASE 5.0 'Common reforms agenda' for PSBs

Enhanced Access and Service Excellence-EASE on Wednesday has evolved over four annual editions from FY19 to FY22 and has catalyzed reforms in diverse areas in Public Sector Banks

PSBs to focus on 3-yr roadmap to support SMEs, farming under EASE reforms

The roadmap will be based on broad themes of business growth, profitability, risk, customer service, operations, and capability building