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Speaking to CNBC-TV18, Anshula Kant, CFO of State Bank of India (SBI) says that the bank will have to reevaluate its real estate assets as per the new guidelines.
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Bhattacharya is expecting more capital from the government for public sector banks in the upcoming Budget. She says SBI will look at divesting non-core assets and paring stake in subsidiaries next yea
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Arundhati Bhattacharya, Chairman, SBI, says the regular slippages are coming down and was around Rs 5,900 crore this quarter against Rs 7,000 crore last year.
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Due to volatility in the international markets, RBI must have plans to restrict exposure for Indian banks through this, said VG Kannan, MD of State Bank of India.
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In an interview to CNBC-TV18, Ankit Miglani, director, Uttam Galva, says the safeguard duty for 200 days has been counterproductive in reviving demand.
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In an interview with CNBC-TV18's Alexander Mathew, the bank's chief, Arundhati Bhattacharya, explained what was behind the asset quality improvement.
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State Bank of India's new Managing Director PK Gupta, says the bank will plug loopholes wherever there are shortcomings on the backdrop of the forex scam.
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Banks in India lend towards cash flows and not equity. State Bank of India chairman and managing director Arundhati Bhattacharya says: "We cannot be expected to lend against land just on the basis of the value of the land."
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The RBI introduced the strategic debt restructuring (SDR) guidelines in June allowing banks to takeover stressed assets by converting their debt into a majority equity stake.
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Former chairman of State Bank of India AK Purwar says even larger banks will start feeling the heat and pinch of this, not just midcap and small banks. In a neck and neck competition, he says: “It will become a question of survival of the fittest.â€
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Sources say the bank has roped in KPMG as an advisor to set up the new subsidiary, which will look at all the real estate activities.
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The lower base rates for both the banks will come into effect from October 5, 2015.
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The bank has cut its base rate from 10.15 percent to 9.95 percent effective October 5, 2015
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Other than UCO Bank, State Bank of India, Bank of India, Andhra Bank and State Bank Of Travancore have also cut their base rates.
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Since it takes one year for the rate cut to have an impact, atleast a 200 bps rate cut was needed to revive the capex cycle, Ajit Gulabchand explained.
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SBI managing director VG Kannan says the market has priced in a 25 basis points rate cut.
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The bank has cumulatively reduced base rate by 35 basis points since April, says Sharad Sharma, MD, State Bank of Mysore.
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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.
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SBI, MD - corporate banking, P Pradeep Kumar says, it has been continuously reviewing base rates and lowering deposit rates since August or September last year. "A further cut will depend on SBI's cost of funds, composition of asset portfolio, etc."
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Potential realty home owners are in a wait-and-watch mode hoping realty majors slash home prices given their large inventory.
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Anil Agarwal, Head of Research-Banks, Asia ex Japan, is more bullish on private sector banks as he expects earnings growth to be stronger in that space
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In an interaction with CNBC-TV18's Manasvi Ghelani, SBI Chairperson Arundhati Bhattacharya spoke about the bank's asset quality and the earnings picture.
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In the third bi-monthly monetary policy meet today, RBI Governor Raghuram Rajan said banks have merely lowered lending rates by a fraction.
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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.
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Rajnish Kumar, MD of SBI, says the 5:25 scheme can also help reduce stress on banks. The 5:25 scheme allows banks to extend loans for a longer period of time for infrastructure projects, typically 20-25 years, in a bid to match cash flow of these projects. It can refinance them every 5 or 7 years.
