State Run Banks

Banks have been offloading notes over the past month to book profits following a price rally led by hopes of a policy pivot by the local and US central banks.

Finance ministry asks state-run banks to focus on high quality savings, current accounts: Reports

Finance Minister Nirmala Sitharaman chaired the meeting to review the performance of Public Sector Banks on various financial, efficiency, and health parameters on March 25, 2023.

State-run banks seek dividend relief from government: Report

The state-run banks saw record profits in the current fiscal and any relief extended on the dividend front to banks could chip away at the government's fiscal deficit number pegged at 6.4% especially as the divestment receipts are likely to disappoint.

Explained | Are Banking frauds on the rise?

Watch this video to know about which banks have reported the highest number of fraud cases and what is the government doing to prevent such cases.

Making 'angootha chhaap' fancy: Govt to launch Aadhaar Pay on Apr 14

Government is all set to launch Aadhaar Pay on April 14, a payment system which will enable people to carry out bank transactions just by using their thumb impressions.

Aadhaar Pay makes your thumb your identity, PM to launch platform on April 14

Aadhaar Pay is a payment system that will enable individuals to carry out bank transactions by using their thumb impression.

State-run banks' credit profiles at risk on heavy losses:Fitch

The credit profiles of state-run banks are under pressure following huge losses in the past two consecutive quarters which have weakened their core capital adequacy, says international ratings agency Fitch

General trend downward; not sure if 6900 is Nifty bottom: Udayan

As far as PSU banks are concerned, especially in light of the commentary from Bank of Baroda, CNBC-TV18's Consulting Editor Udayan Mukherjee says credibility of these state-run banks is low and in fact advises investors to use rallies and exit them

Nayak says consolidation can create only big weaker PSBs

The government has reportedly identified some of the weak state-run banks to be merged with large ones. But nothing has moved to any concrete plans.

Working on comprehensive package to help PSU banks: Sinha

Jayant Sinha, minister of state for finance, says the finance ministry is trying to understand exactly what the public sector banks' capital requirements are going to be in the next one to three years.

Bank reforms positive but implementation a risk: Fitch

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.

Govt plans to reduce stake to 52% in state banks

The government holds stakes ranging from 56 percent to 84 percent in the state-run banks that account for 70 percent of India's total outstanding loans of about USD1 trillion.

Defaulting large borrowers are like freeloaders: Rajan

Rajan also said it is the taxpayers and honest borrowers who end up paying the price for losses suffered by state-run banks due to bad loans given to a few big borrowers.

Bad loans biggest challenge facing public sector banks: FM

Addressing a press conference after reviewing performance of PSU banks, he also said that credit disbursal to medium-sized industry has declined and was only "satisfactory" in the agricultural sector.

Further rupee steps expected in Indian debt/FX

Among the steps being considered are raising dollars via state-run banks or companies or easing overseas borrowing rules.

RBI likely sold dollars via state-run banks: Traders

The partially convertible rupee was trading at around 61.58/59 per dollar at around 1:10 pm, after hitting a record low of 61.80 a little while earlier.

State-run banks aim to open over 8,000 branches: FM

India plans to directly transfer cash benefits to bank accounts of people under various social welfare scheme over the next few years and is expanding the banking network

Credit-card segment estimated to grow this year: Report

The credit-card segment in the country is estimated to have grown for the first time this fiscal after witnessing sluggishness for four years, says a report by the electronic-transactions provider Atos Worldline.

India to infuse capital into state-run banks: Chidambaram

Most state-run banks need an infusion of additional capital and a decision will be taken in the next few weeks, Finance Minister P. Chidambaram said on Thursday.

PSBs, foreign banks hit by bad loans: RBI

State-run banks and foreign banks were hit by bad loans as their non-performing assets rose, says the Reserve Bank.

India retains high-cost deposit cap for banks

The government is sticking with its order that state-run banks cap bulk deposits and certificates of deposit at a combined 15% of all deposits, despite objections from several bankers, four banking officials said on Monday.

In India, some farmers take banks for a ride

Two years ago, Vilas Yelmar took out a 200,000 rupee bank loan to develop a small grape orchard in a dusty hamlet southeast of Mumbai.

Make fund infusion in PSBs a continuous process: Rangarajan

The Prime Minister's Economic Advisory Council Chairman C Rangarajan has called for continuous infusion of capital into the state-run banks, saying without which they will find the going tough in future.

July 7 bank strike deferred to Aug 5

The proposed July 7 nationwide bank strike has been deferred to August 5 in view of the late beginning of the monsoon session of Parliament, the United Forum of Bank Unions (UFBU), which is spearheading the strike call, said today.

India moves bill to relax voting rights in pvt banks

The government on Tuesday sought parliamentary approval to amend a banking law for allowing investors in private banks to have voting rights proportional to their shareholdings, a long-awaited move to help grow the sector.