In a free-wheeling chat with CNBC-TV18's Shereen Bhan, the Finance Minister said that even if Congress doesn't support GST Bill, he will allow Parliament to do its job. Among other topics, he spoke on the need for consolidation among public sector banks.
Sharing his views on Vijay Mallya's debt repayment plan, Siddharth Purohit, Senior Research Analyst, said that the question will shift to how the deal is structured and the source of payment.
The lower base rates for both the banks will come into effect from October 5, 2015.
Saswata Guha, Director – Financial Institutions, Fitch Ratings (India) told CNBC-TV18 that despite injection of capital by the government, PNB‘s balance sheet has inadequate capital to meet uncertain risks.
In an interview to CNBC-TV18, Punjab National Bank executive director Ram Sangpure says of the loans to be refinanced, 70 percent are from steel sector and 30 from power.
Dr Charan Singh, Professor of economics, IIM Bangalore and Mr Sharad Sharma, Managing Director, State Bank of Mysore talk about resolving the worry for banks, augmenting NPAs.
Speaking to CNBC-TV18, Ram Sangapure, ED, PNB says the bank has been conservative in lending to the steel sector since/for the last 2 years but the steel segment lending won‘t be curtailed.
Ram Sangapure, ED, Punjab National Bank said the bank has already made its capital requirment presentation to the government for FY16, FY17, FY18.
Vijay Kumar, chief financial officer, Ramky Infra says the company will have to monetize assets worth Rs 1,000 crore in the next three years.
PNB does not expect Q1 slippages to be more than Rs 7,000 crore.
State Bank of India saw a significant improvement in its asset quality. Gross non-performing assets (NPA) stood at 4.90 percent of gross advances in Q3FY15 against 4.89 percent in previous quarter and 5.73 percent in the year-ago period.
With macros improving, Ram Sangapure ED, Punjab National Bank spoke to CNBC-TV18 about the chance of a rate cut from Reserve Bank of India.
The two-day bankers' retreat Gyan Sangam saw banking officials conduct various seminars and group discussions on key issues such as ensuring greater autonomy for banks, improving risk management practices, their recapitalization needs, improve asset quality and curb black money among others.
In an interview to CNBC-TV18, KR Kamath, CMD, PNB, said the liquidity available in the system is enough to meet credit demand, however the rate cut in retail deposits will depend on the credit rate pick-up.
The credit growth of PNB is around 13 percent currently and is expected to touch 15 percent by the end of FY15.
United Bank has declared Kingfisher Airlines and its promoter Vijay Mallya as ‘wilful defaulter‘. The bank is in the process of sending formal notices to the company and will inform RBI as well.
Punjab National Bank and Oriental Bank of Commerce on Tuesday cut interest rate on auto and consumer durable loans up to 2.50 percent to cash in on festive demand, a few days after government promises more funds to PSU banks.
According to SS Mundra, the RBI's move to inject more liquidity into the system by cutting the MSF rates does not indicate a long-term change its policy plan given the high inflation and the repo rate hike.
Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).
The state-owned Punjab National Bank hopes to see some improvement in recovery in quarter ended March despite continued pressure on loans given to the sector such as steel, power and mining,.
Vivek Gupta, Partner at BMR Advisors clearly considers the entire situation to be messy. According to him, there will certainly be a hierarchy of demands once claims are made.
According to Supreme Court advocate HP Ranina this step will severely hit United Breweries Group because most KFA loans are guaranteed by them.
Ananda Bhoumik of India Ratings says that the new debt restructuring norms announced by the RBI will strengthen the lending and risk-management processes in the banking sector. He adds, in an interview to CNBC-TV18, that the new rules will also reduce the risk in projects for industry.
KR Kamath, CMD, Punjab National Bank (PNB) and chairman, Indian Banks Association (IBA) discusses the challenges in store for the banking sector with CNBC-TV18‘s Gopika Gopakumar at the sidelines of Bancon 2012- an annual event that showcases the best and the brightest minds in the banking industry.
In an interview to CNBC-TV18, KR Kamath, chairman, Punjab National Bank says the bank is concentrating on the retail. “We are looking at now housing, auto loans and consumer durables. If they get a push, they will also indirectly support a lot of industries," he adds.