Page 6 - Public Sector Banks

Indian banks recovered over Rs 14k cr, twice he owed, claims Vijay Mallya

Fugitive liquor baron Vijay Mallya has claimed that Indian banks have got access to his properties worth Rs 14,131.6 crore, more than twice the amount that he owed to public sector banks. Mallya cited purported reference to the details of restoration done by the Enforcement Directorate against wilful defaulters in the Finance Ministry's annual report 2024-25 to say that banks have already recovered Rs 14,131.8 crore against Rs 6,203 crore awarded by the Debt Recovery Tribunal. "Finally, against aT judgment debt of Rs 6,203 crore, admitted recovery of Rs 14,131.8 crore, which will be evidence in my UK bankruptcy annulment application. Wonder what banks will say in an English Court," Mallya said in a post on X. Sharing details of fugitive economic offenders, including Mallya and 10 others, the report said a total of 44 extradition requests have been sent to various countries in respect of 36 individuals. As per the annual report of the ministry, a complete amount of attached properti

Finance ministry asks banks to work on deposit mobilisation strategies

The meeting was chaired by the Department of Financial Services (DFS) Secretary M Nagaraju with the PSB chiefs and select private sector banks

Public sector banks must plan timely capital raise, says M Nagaraju

Each bank has its own unique set of challenges, manpower, systems, capabilities, and infrastructure

FM launches digital footprint-based credit assessment model for MSMEs

The Finance Ministry statement further noted that the benefits to MSMEs by use of this model includes submission of application from anywhere through online mode, reduced paperwork and branch visit

FinMin defers performance review meeting with heads of PSU banks to Mar 5

The finance ministry has deferred performance review meeting with heads of public sector banks (PSBs) by a day to March 5. The meeting, to be chaired by Financial Services Secretary M Nagaraju, would review financial performance and progress of financial inclusion schemes, among others, sources said. Earlier, Department of Financial Services had fixed March 4 for the meeting. This is going to be the first meeting after presentation of Union Budget 2025-26 in Parliament. The 12 PSBs have posted highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal year, marking an annual increase of 31.3 per cent. The performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review. Further, improved asset quality is also visible from significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstandin

FinMin to discuss hiking deposit insurance limit with PSBs on March 4

This is the first review meeting of the finance ministry with PSBs after the Union Budget 2025-26

PSBs strongly capitalised and ready to fuel economic growth: FinMin

PSBs have significantly improved asset quality, with a low net non-performing asset (NPA) ratio of 0.59 per cent, and an aggregate net NPA outstanding of Rs 61,252 crore

SBI Q3 net profit up 84.32% at Rs 16,891 cr, margins under pressure

Sequentially, the public sector lender's profit was down by 7.86 per cent from Rs 18,331 crore in the quarter-ended September (Q2FY25)

Budget proposal of Grameen Credit Score to help credit discipline: Experts

It will weed out fraudulent borrowers and self-help group members, they say

Banks to continue good run with caution and innovation, say PSB CEOs

The economy is very strong and on sound footing and we, as banks, typically mirror the economy

With loans to MTNL turning into NPAs, PSBs may agree to 20% haircut

They have Rs 8,144 cr exposure to troubled telco

Public-sector banks concerned over rejection rate in PM Vishwakarma scheme

The restrictions make individuals ineligible if they had taken government loans in past five years

Punjab and Sind Bank to raise Rs 2K cr via QIP this quarter: CEO Saha

State-owned Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. "With the QIP, the government holding in the bank would come down 3-4 per cent and capital adequacy ratio would rise at the end of March 2025," he said. The government of India holds 98.25 per cent stake in Punjab & Sind Bank at the end of December 2024, he said. The government has extended the deadline for meeting minimum public shareholding norms for central public sector enterprises and public sector financial institutions till August 2026. Out of 12 public sector banks (PSBs), five are yet to comply with minimum public shareholding (MPS) norms and the government's holding is beyond 75 per cent. As per the Securities and Exchange Board of India ..

Macquarie likes pvt banks over PSBs as FY26 may be the 'year of stability'

HDFC Bank, SBI, ICICI Bank share price target: Macquarie raises share target price of HDFC Bank, ICICI Bank, SBI, cut IndusInd Bank share price target

Looking ahead: Slowing credit growth, margin pressure await banks in 2025

Resource mobilisation was a key challenge for banks over the past two years, as deposit growth lagged credit uptake

Looking ahead: Financial sector braces for leadership changes in 2025

Two public sector banks, Punjab National Bank (PNB) and Indian Bank, will welcome new leaders at the start of the year as their current incumbents retire on December 31, 2024

Low NPAs, credit growth to help PSU banks cross Rs 1.5 trn profit in FY25

Low NPAs and double-digit credit growth are expected to drive profits of public sector banks past the Rs 1.5 lakh crore milestone in 2024-25. PSBs reported a 25 per cent jump in their total net profit to Rs 85,520 crore in the first half of 2024-25 compared to Rs 68,500 crore in H1'FY23 and the trajectory is likely to continue in the second half as well. Public lenders recorded their highest-ever aggregate net profit of Rs 1.41 lakh crore in 2023-24 on the back of significant improvement in asset quality, credit growth, healthy capital adequacy ratio and rising return on assets. The Gross NPA ratio of PSBs has witnessed a remarkable improvement, declining to 3.12 per cent in September 2024 from a peak of 14.58 per cent in March 2018. This significant reduction reflects the success of targeted interventions aimed at addressing stress within the banking system. Another indicator of the improved resilience of PSBs is their Capital to Risk (Weighted) Assets Ratio (CRAR), which rose by

IBA suggests FinMin for training sessions of bankers to handle fraud

The number of frauds in the banking sector increased over four times in the past five years to 36,075

GNPA of PSBs declines to 3.12% in Sep from 14.58% in March 2018: FinMin

Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, recapitalising PSBs, and reforms in the financial system to address the challenges faced by PSBs, it said. Capital adequacy ratio of PSBs improved 393 bps to reach 15.43 per cent in September 2024 from 11.45 per cent in March 2015, it said. During 2023-24, PSBs recorded the highest-ever aggregate net profit of Rs 1.41 lakh crore against Rs 1.05 lakh crore in 2022-23, it said, adding that the figure was Rs 0.86 lakh crore in the first half of 2024-25. In the last three years, PSBs have paid total dividend of Rs 61,964

FM counters Rahul on PSBs, says their turnaround has benefitted everyone

Gandhi alleged on X that the Narendra Modi government has turned PSBs ("lifelines of the masses") into private financiers for only the rich and powerful corporations