Page 29 - Public Sector Banks

RBI moratorium: 10% provisioning may shave Rs 35,000 cr off bank profits

Banks will have to categorise the moratorium loans as special mention accounts (SMA) wherein loans are in the 0-90 days overdue buckets

Punjab & Sind Bank declares Golden Jubilee Hotels as fraud account

Golden Jubilee Hotels Pvt Ltd is a public-private partnership (PPP) with the Department of Tourism and Youth Advancement, Tourism & Culture, Government of Telangana

Private lenders may lose deposits to PSBs due to YES Bank bailout: Report

Moody's said the Yes Bank episode places the country's financial system on "alert" and the rescue in itself "exposes weaknesses in the process to support a failing private sector bank"

Public sector banks overtake private banks in fresh loan sanctions

Private sector lenders have been leading on this front for some time, mostly leveraging on retail credit.

Irdai grants exemptions to merged banks on corporate agency matters

Irdai has said the acquiring bank can retain the existing certificate of registration (COR) to act as a corporate agent and surrender the COR's held by the acquired banks

Bank merger: Will approach markets for capital in Q3, says Mallikarjuna Rao

The ecosystem is favourable to us because of the developments over the last two months. Therefore, we will have to work in converting that confidence into business relationships, says Rao

Most private banks choose 'opt-in' option on loan repayment moratorium

Largest private sector lender HDFC Bank said it would encourage customers with adequate funds to continue repayments to avoid the extra interest charges and tenor extension of the loan

Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders

The bank is in the process of filing listing applications with the stock exchanges

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

No disruption in services, all branches to remain open: Bankers assure FM

During the call, she also instructed CEOs to ensure that all branches and ATMs remain open and continue operations

Covid-19 crisis: UBI sets up emergency funding window for corporates, MSMEs

All MSME/agriculture borrowers are eligible for a loan up to Rs 10 crore and others up to Rs 50 crore

Coronavirus: Pressure mounts on govt to defer PSB merger amid lockdown

Banks working towards merging balance sheets before April 1

Coronavirus outbreak disrupts PSB merger as banks put programmes on hold

According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.

PSB merger: Bank logos along lines of BoB, Vijaya and Dena fusion

Logo of the bigger bank to get prominence; Indian Bank name to be retained post amalgamation

Ensure credit not disrupted after bank merger, Finance Ministry tells PSBs

The FM met chief executives of public sector banks which are going to be merged from April 1

Merged public sector banks will ensure no disruption to credit flow: FinMin

The merged public sector banks will ensure that there is no disruption to credit flow and customer experience is enhanced, the finance ministry said on Thursday. Ten public sector banks are to be merged into four from April 1. The finance minister is holding meetings with the lenders to review their preparedness. Finance Minister Nirmala Sitharaman on Thursday held meetings with chief executives of these banks, including Andhra Bank, Corporation Bank and Union Bank of India. "Amalgamating PSBs made a presentation to Hon. FM @nsitharaman on their preparedness. Amalgamated PSBs to ensure no disruption to Credit & enhanced customer experience," the Department of Financial Services said in a tweet. The Union Cabinet had last week approved the mega bank consolidation plan under which Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into .

FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells

YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank

If you are paying a personal/home loan or doing SIPs, shift ECS mandate to another bank. It just might make sense to have one account with a nationalised bank

Statsguru: How PSBs deal with integration in a challenging biz environment

The RBI in December 2019 noted that private sector banks accounted for 69 per cent of incremental loans in 2018-19