Page 22 - Public Sector Banks

PNB posts Rs 586 crore profit in Q4; NII jumps over 48% to Rs 6,937 crore

Sequentially, the net profit has increased 16 per cent from Rs 506 core posted in the October-December quarter

State Bank of India's domestic advances growth rebounds to 5.67% in FY21

SBI said that despite the ongoing pandemic, its business growth remained robust in the financial year ended March 2021

PSBs sanction 95% of all loans under PM SVANidhi scheme for street vendors

Scheme provides working capital up to Rs 10,000 repayable in a year to hawkers, who get 7% interest subsidy from govt; banks get graded guarantee cover

PSBs Q4 preview: Bond yields may dent treasury income; asset quality eyed

Analysts are bullish on the PSBs' bottom lines on the back of favorable base on NII, a seasonally higher fee quarter, and some recoveries from Bhushan Power

Govt asks PSBs to protect dollar assets on Cairn concern: Report

The banks' decision to avoid adding more dollars to their offshore account has roiled India's exchange rate in recent days

Over 100,000 LIC employees to get 16% wage hike

The government has given a go-ahead to a five-day working week for LIC employees

Future-ready banking

Book review of Transformational Leadership in Banking: Challenges of Governance, Leadership and HR in a Digital and Disruptive World

SC order on interest waiver: PSU Banks may have to take Rs 2,000 cr hit

Public sector banks may have to bear a burden of Rs 1,800-2,000 crore due to SC judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020

Like telcos, banks may soon pester customers daily to pay up via messages

Working on an RBI mandate to automate its NPA alert system real-time, instead of manually gauging NPA status at the end of the month, Chennai-based Indian Bank sent a message to its surprised customer

Under Modi regime, private banks outnumber PSBs on new rural branches

Since 2014, public sector banks' branch network in rural and semi urban has grown by a mere 4,000 - from 49,859 in 2014 to 53,467 while for private sector banks, it doubled from 9,673 to 18,437

Explained: How State Bank of India regained its footing on the bourses

India's largest bank is now the most valuable state-owned entity, even as other public sector firms struggle to retain their place on the bourses

Centre will have to put more funds into public sector banks, says RBI

Governance reforms and action plans to enhance operational efficiency and customer services are integral for recapitalisation

PSB bank services hit in Bengal as unions protest against privatisation

Banking operations were severely hit in West Bengal on Monday

Nationwide strike impacts banking services of public sector banks

Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the UFBU have gone on a nationwide strike

Winners' curse: Top bosses at PSBs see their term ending much before time

Govt has appointed 14 EDs at public-sector banks; their performance will be reviewed after three years for a two-year extension

State-run banks likely to see bad loan additions moderate: Morgan Stanley

Structural issues, however, could cap returns on their stocks, Morgan Stanley said

'PSBs need to step up as govt lifts embargo on grant of biz to pvt banks'

Some large private banks, unlike mid-sized banks, were allowed to participate in the government's businesses even after the RBI restricted the private lenders' participation in 2012

Payments banks may also join private banks to offer tax, pension services

The finance ministry has now made it clear that there is now no bar on the RBI's authorisation of private-sector banks to offer government business

Punjab & Sind Bank shares advance nearly 5%; hits the upper circuit

Shares of Punjab & Sind Bank advanced nearly 5 per cent in morning trade on Wednesday after the bank said it will allot shares worth Rs 5,500 crore to the government in lieu of capital infusion. After opening in the green territory, the bank's shares rose 4.98 per cent to hit the upper circuit limit at Rs 17.48 a piece on the BSE. The scrip hit its upper trading limit on the NSE as well, with a gain of 4.80 per cent at Rs 17.45. An extraordinary general meeting (EGM) of the shareholders of the bank is scheduled on March 25, 2021 for preferential issue of equity shares to the government up to Rs 5,500 crore, the bank said in a regulatory filing on Tuesday. The EGM, the bank said, will take place through video conferencing and other audio visual means for passing the resolution for issuing shares to the government. In September, the government had approved a Rs 20,000 crore fund as part of the Supplementary Demands for Grants for 2020-21, for capital infusion into public sector ...

India Ratings upgrades outlook on banking sector to 'stable' for FY22

The rating agency has upgraded its FY21 credit growth estimates to 6.9 per cent from 1.8 per cent