Page 2 - Public Sector Banks

Govt keen to retain its say on picking PSB independent directors

During the PSB Manthan earlier this month, some experts and bankers had suggested that the power to appoint independent directors should rest with the boards of PSBs to enhance accountability

India's resilience stands out amid global uncertainty: FM Sitharaman

Finance Minister Nirmala Sitharaman says India's resilience is built on strong fundamentals, reforms and governance, urging banks to maintain robust balance sheets and consumer trust

Public-sector banks turn down nearly four in 10 rooftop solar applications

Over 3 lakh applications rejected under PM-Surya Ghar Muft Bijli Yojana; 1.6 million rooftop solar installations completed so far, with CIBIL score cited as key filter

Systematix bullish on PSBs; BoB, Union Bank may rise up to 30%: Here's why

Systematix noted that PSBs witnessed a remarkable turnaround in FY25, reversing the decade-long decline in their advances market share

Banks step up focus on fee-based income; treasury gains come under pressure

Further, bankers said that there is still room to reduce rates on term deposits, and bulk deposit rates have already declined

Call for paring govt stake in public sector banks, greater board autonomy

The discussion also touched upon the objective of ensuring that at least two public sector banks feature among the world's top 20 banks

Next-gen public-sector banks on agenda as two-day Manthan begins

Focus on cybersecurity, customer experience, scaling strategies

PSBs must marry innovation with trust, says SBI chairman CS Setty

SBI Chairman Challa Sreenivasulu Setty says PSBs must combine innovation, resilience and trust to stay competitive as digitalisation, fintech and cybersecurity reshape banking

PSBs shut 1.5 mn inoperative Jan Dhan accounts in 1-time exercise in April

Launched in August 2014, PMJDY was launched by Prime Minister Narendra Modi as a financial inclusion programme to provide access to banking services to a vast unbanked population

PSBs' share in household deposits falls to 63%, private banks gain ground

The rise of small finance banks has also added to the competitive intensity, suggesting that private sector players will likely continue to expand their share in the market

AIBOC opposes Centre's plan to privatise IDBI Bank, warns of social risks

Bank officers' union AIBOC has opposed the Centre's plan to privatise IDBI Bank, saying it endangers public trust, social justice and economic sovereignty while risking financial exclusion

Public sector banks lose big as pension fund deposits plunge 87% in 5 years

Public sector banks see sharp erosion in pension fund and household deposits, while private banks capture larger shares amid rising demand for returns and convenience

Tariff worries? Allocate 40-50% to Sensex or Nifty basket: G Chokkalingam

The continued normal monsoon, falling inflation, and the S&P Global Ratings upgrade also contributed to the market recovery despite the US tariff threats, said Chokkalingam

Finance ministry asks PSBs to broaden credit focus amid tariff woes

"PSBs have been told to focus on credit growth across loan sizes, especially in core engineering, manufacturing, agriculture, MSMEs, and startups," the official said

Bank asset quality: Slippages rise 26% in Q1 on stress in unsecured loans

The incidence of default was higher among private lenders compared to their public sector counterparts, according to CareEdge Rating data

FinMin to meet CEOs of PSBs on August 20 to review Q1 performance

The finance ministry has called a meeting of heads of public sector banks (PSBs) on Wednesday to review the first-quarter financial performance. The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju. The review meeting on August 20 with public sector banks to assess the performance of the first quarter of 2025-26, according to sources. Led by State Bank of India (SBI), public sector banks, cumulatively, logged a record profit of Rs 44,218 crore in the first quarter of the current fiscal, with an 11 per cent year-on-year growth. All 12 public sector banks together made a profit of Rs 39,974 crore in the June quarter of FY25. The increase in profit in absolute terms was Rs 4,244 crore. Market leader SBI alone contributed 43 per cent to the total earnings of Rs 44,218 crore, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 19,160 crore in Q1 FY26, 12 per cent higher than the same period of the previous fiscal. In terms of siz

Bond windfall cushions NII strain for PSBs as margins shrink on rate cuts

Public sector banks saw Q1 FY26 profit rise 10.6% YoY on treasury gains and lower provisions, while NII was flat as lenders passed on policy rate cuts to customers

ED files supplementary prosecution complaint in Amtek Auto bank fraud case

ED files supplementary complaint naming 56 accused in Amtek Auto fraud involving loan diversion, stock manipulation, and asset concealment, with Rs 6,261 crore attached

Four PSBs seek 1-year extension to comply with shareholding norms

As per SEBI norms, listed entities must reduce promoter shareholding to 75 per cent

Union Bank of India puts 10 Future Group brands on block to recover dues

Union Bank of India has listed 10 brands from Future Brands Ltd, part of Kishore Biyani's Future Group, for auction in August to recover dues of over Rs 181 crore under SARFAESI