Page 21 - Public Sector Banks

Analysts see up to 41% upside in SBI, BoB; credit growth to be key driver

Shares of State Bank of India (SBI) and Bank of Baroda (BoB) jumped 3 per cent and 9.7 per cent, respectively, in intra-day trade on Monday, and hit fresh record highs of Rs 547 and Rs 117 apiece

Public sector banks up loan growth target as corporate demand sees revival

Large public sector banks (PSBs) have revised upwards their credit growth target for the current financial year

PSBs poised for growth despite zero capital from govt this budget: Agencies

Decision to not earmark funds for recapitalisation reflects confidence in capital position of such banks, as well as their ability to raise funds from market

FM reviews PSBs' readiness to tackle disruption by third covid wave

In a virtual meeting, Sitharaman also reviewed steps taken by public sector lenders in implementing pandemic-related measures initiated by both Centre and RBI

Banks have written off double the amount recovered in last 5 yrs: RBI data

Public sector banks write off Rs 7 trillion in 5 years, which is double the govt's capital infusion since 2014

Banks raise over Rs 37,000 cr via AT1 bonds amid capital ratio concern

Call options for instruments raised last year and worth Rs 28,430 crore are due in the next financial year.

Avoidable delay

Govt should soon start the PSB privatisation process

No Cabinet decision on privatisation of two PSBs: FM Sitharaman

The bill related to privatisation of PSBs has been listed for the ongoing winter session of Parliament, which ends on December 23

PSU bank employees go on two-day strike; services hit at many places

Employees of public sector banks went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country

Banks lost Rs 2.85 trn due to loan default of 13 firms, alleges UBFU

: Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In press release, UFBU's Convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 4,86,800 crore and it was resolved at Rs 1,61,820 crore resulting in a loss of Rs 2,84,980 crore. "It is also a matter of reality that time and again public sector banks have been used to bail out ailing private sector banks such as Global Trust Bank, United Western Bank, Bank of Karad, etc. In the recent past, it was Yes Bank, which was bailed out by public sector SBI. Private sector's largest NBFC, IL&FS, ..

As many as 41,177 posts vacant at public sector banks: Govt

State Bank of India had the maximum number of vacant posts at 8,544, according to official data

PSBs restructure over Rs 58,500 cr loan advanced to 1 mn MSME acc: Govt

While, as many as 8.5 lakh accounts of individual borrowers of over Rs 60,000 crore have also been restructured

Why's govt keen on keeping 26% stake in PSBs it wants to privatise

The govt is set to privatise two state-run banks, but may hold on to a 26 per cent stake. What merits does the government see in this stake and will this complicate its efforts to attract investors?

Centre may continue to hold at least 26% stake in public sector banks

To protect decision making of bank executives, a new provision will also be included in the law to protect them for action taken in good faith

HDFC Bank, SBI: Analysts bullish on bank stocks as credit revival picks up

Analysts at Credit Suisse are more optimistic compared to their peers and expect double-digit growth in credit off-take during the second half of the current fiscal (H2-FY22)

SBI, Axis, Canara likely to raise Rs 7,500 crore via AT I bonds before 2022

The country's largest lender, SBI, is looking at raising an additional Rs 4,000 crore, Axis Bank Rs 2,000 crore and Canara Bank Rs 1,500 crore

Dip in provisions helps PSB profits jump 94% to Rs 17,312 crore in Q2

The second quarter marked a gradual improvement after experiencing a setback from the pandemic in the April-June period.

UPA fell back on loosening govt's grip on PSBs: Montek Singh Ahluwalia

In a Q&A, the former deputy chairman of the Planning Commission, dwells on the areas where he feels UPA did not meet up to the challenges and the progress made by the BJP on certain fronts

Best of BS Opinion: Pratip Chaudhuri's arrest, infinite learning, and more

Here are the best of BS Opinions of the day

Finance ministry floats four-tier plan for PSB staff accountability

Move comes at a time when banks are reluctant to lend fearing probe