Public sector banks (PSBs) accounted for the bulk of the losses, while private sector banks reported the highest number of fraud cases, RBI's annual report has said
Analysts recommended to use this decline to buy selective good quality banking stocks that can sustain emerging headwinds like margin strain and slower deposit growth
The private sector banks can be involved in "conduct of government-related banking transactions such as taxes and other revenue payment facilities", the Department of Financial Services (DFS) said.
If you want to opt for personal loans, here is the list of banks you can refer to which are offering the cheapest personal loans to you. Interest rates on personal loan for all listed (BSE) public and private banks have been considered for the data compilation. EMI is calculated on the basis of interest rate mentioned in the table for Rs 5-lakh loan with tenure of five years (processing and other charges are assumed to be zero for EMI calculation). Interest and charges mentioned in the table are indicative and may vary depending on bank's terms and conditions.
Here is a list of 10 banks that offer best fixed deposit rates for senior citizens on three-year FDs
During the first half of FY19, the losses of PSBs widened to over Rs 30,000 crore from the Rs 4,500 crore in the corresponding period one year prior.
"The ministry officials have sought business plans for the next three years and also wanted detailed turnaround plans. Banks will also have to submit stressed asset resolution plans," a senior public sector banker told PTI.
Retail investors are quietly lapping up stocks without ostensibly creating any noise and that indicates the market could be "in the midst of a very powerful rally", feels N Jayakumar, President of Prime Securities. He does not believe the market is "frothy" and sees a floor for the Nifty at 8,500.
The share of non-banking finance companies (NBFCs) in loans being given in the financial sector may rise by 300 basis points to 17.6 per cent over the next three fiscals and they can grow even faster as public banks adopt cautious approach on lending, according to Crisil.
Seventh pay commission, GST expectations, monsoon will push growth for the India, says Mark Matthews of Bank Julius Baer.
Hartmut Issel of UBS says that PSU banks will be be more attractive once reforms are in place.
Union Finance Minister Arun Jaitley had announced plans to set up the bureau during his budget, which follows other moves like separating the post of chairman from managing director as well as inviting applications from professionals working in the private sector to apply for top posts.
State-owned banks to account for 85 per cent of the capital requirement. As per the estimates, public sector banks require Rs 2.40 lakh crore equity capital by March 2019.
A bad promoter according to the FinMin is any promoter who has willfully defaulted at any project. The ministry has asked all PSU banks to stop lending to such promoters even if it is for another project, subsidiary or any other group company.
Prefer private banks over public sector, says Hemant Thukral, SBI Capital Securities.