Indradhanush’

Through the 'Intensified Mission Indradhanush' or IMI, the government aims to reach every child below the age of two years and pregnant women still uncovered under the routine immunisation programme, an official statement said.

Government approves second tranche of capital infusion in PSU banks

The government has approved the second tranche of capital infusion in public sector banks to enhance their capital base.

To focus on strengthening banks, discoms ahead: FM

The country's economic system heaved a collective sigh of relief after the Rajya Sabha passed the long-delayed Goods and Services Tax (GST) Constitutional Amendment Bill. Along with the recently-passed Bankruptcy Code, the government has ticked off two major reforms on its agenda.

Consolidation to make banks vibrant, competitive: Jayant Sinha

"The goal through this effort is to ensure that our banks are vibrant, competitive and can compete with the world's best," says Jayant Sinha, MoS, Finance.

RBI's Rajan explains why the pain in banking sector now is good

Reserve Bank governor Raghuram Rajan said the government has indicated it will support public sector banks. "Finance Minister Arun Jaitley has indicated he will support the public sector banks with capital infusions as needed. Our estimate is that the government support that has been indicated will suffice."

27 PSU banks write off Rs 1.14 lakh cr bad debts during 2012-15

For the fiscal ended March 2015, public sector banks have written off loans amounting to Rs 52,542 crore, an increase of 52.6 percent over the previous fiscal, as per the RBI data. About one-fifth of bad loans was written off in 2014-15 as the gross non-performing assets (NPAs) at the end of March 2015 rose to Rs 2,67,065 crore.

Govt to infuse about Rs 5,000 cr in PSU banks this quarter

"As committed, banks will get fund infusion in the fourth quarter. Banks will get about Rs 5,000 crore," Financial Services Secretary Ajuly Chib Duggal said on the sidelines of an event here.

2015: The year of banking reforms

The stressed assets' problem grew worse as the year progressed and this prompted every stakeholder to try and come up with a solution.

FM to meet PSU bank chiefs today; to discuss NPAs, rate cut

The performance review meeting of public sector banks (PSBs) will also take stock of the credit flow to productive sectors to spur economy and review of 'Indradhanush', the seven-pronged strategy to revive PSBs, sources said.

FM to meet PSB heads tomorrow; NPAs, rate cut on agenda

Finance Minister Arun Jaitley will meet heads of PSU banks on Monday to discuss various issues, including bad loans and interest rate reduction, in light of RBI lowering its policy rate in September.

Sell PSU banks! Morgan Stanley underweight, dislike SBI

Morgan Stanley warns that commodity price declines will hurt asset quality materially as PSU banks have fairly high exposure to this area and hence earnings per share (EPS) revisions may continue to be downward and stocks should remain weak.

Edelweiss helps decipher trends in Indian banking space

Kunal Shah, associate director, Edelweiss Securities, says as far as private banks are concerned, going by the annual reports, some interesting trends have emerged. Though it won't impact the stocks in the near term, he adds.

Intent good, faultlines many: Ex-dy RBI Guv on PSB revival

KC Chakraborty, a former deputy governor of the Reserve Bank of India known for being a forceful advocate of change and a staunch pro-customer sentry, questioned the effectiveness of Indradhanush — the 7-pronged revival package for PSU banks launched earlier this week

Like auto, buy PSU banks, check out IT: Motilal Oswal AMC

The auto ancillary space is a good bet in this market. The sector has shown strong earnings growth, says Taher Badshah of Motilal Oswal AMC.

New PNB CEO promises 'innovative ways' to tackle NPA issue

The government's seven-step Indradhanush initiative announced last week to push through public sector bank (PSB) reform is a "comprehensive" one, says newly-appointed Punjab National Bank CMD Usha Ananthasubramanian.

No anti-NPA measures in Indradhanush a let down: Macquarie

Suresh Ganapathy of Macquarie says the reforms proposed in the Indradhanush package for state-owned banks need to be taken with a pinch of salt, and is skeptical if the appointment of private sector personnel in leadership positions will make a big difference.

Worries on PSBs distressed corp exposure remain: Ind-Ra

India Ratings estimates that Indian banks may need up to Rs 1 lakh crore over and above their Basel-III capital requirements to manage the concentration risks arising out of their exposure to highly levered, large stressed corporates.

Profit booking drags Sensex 189 pts; PSU banks rally again

Optimism surrounding project Indradhanush powered a rally in bank stocks with CNX PSU Bank index surging more than 6 percent.

'Indradhanush‘ to tackle banks NPL woes longer-term: Crisil

These reforms we do not believe take care of issues in the immediate term but are creating a structural base which will help them resolve over a little longer term period of time, said Pawan Agrawal, Chief Analytical Officer at Crisil Ratings.

BoB up 15%; Morgan Stanley raises target on new management

According to Morgan Stanley, newly appointed CEO PS Jayakumar and non-executive Chairman Ravi Venkatesan may help BoB clean the balance sheet aggressively, raise capital and position the bank for growth.

Hopeful of PSU banks; Mkt to trade in 8250-8700 range: Pros

With the introduction of Indradhanush — the 7-pronged revial plan for the PSU Banks — market is debating if it will be a gamechanger for the beleagured public sector banking.

Indradhanush could be game changer for banks: Crisil

As per Crisil, the plan to provide a clear roadmap on capital infusion by the government and maintaining a capital buffer beyond the regulatory minimum reinforces the rating agency stance that the credit ratings of public sector banks would remain in the 'high safety' category in the near term.

Nifty may open soft amid mixed Asian trade

Investors will also react to a comprehensive public sector reform initiative introduced by the Narendra Modi government Friday as well as digest the tone and content of the Prime Minister's speech on Saturday to look for cues on policy.

PSU bank reform - Chasing a rainbow

Indradhanush - the seven-fold set of reforms announced by the finance ministry, turned out to be repackaging already well publicized measures: Appointments, bank boards, capital, de-stressing empowerment, framework of accountability and governance reforms, let us take them one by one.

Govt announces seven-step plan to reinvigorate state banks

The government today outlined a seven-step programme for the country's struggling public sector banks, which aims to infuse fresh capital and make a number of changes that would give them greater freedom to operate as commercial entities.