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PSU banks News

03 Nov 2024

Market Outlook: US Election, PMI, FII Data Key Factors For Next Week

FIIs continued their selling spree, offloading around Rs 14,000 crore last week, marking October as a record month for Foreign Institutional Investors' (FIIs) outflows in the secondary market, totalling Rs 1.2 lakh crore.

29 Oct 2024

Sensex Rises On 2nd Consecutive Day, SBI And ICICI Bank Top Gainers

Among the sectoral indices, PSU Bank, financial services, metal, realty, energy, pvt bank, PSE and services were major gainers. Auto, IT, Pharma, FMCG and consumption were major laggards.

FM Nirmala Sitharaman

19 Aug 2024

FM Nirmala Sitharaman Urges PSBs To Boost Deposits, Reviews Fraud Risks

The PSU banks' net profit has crossed Rs 1.4 lakh crore in the financial year ended March 2024, recording a growth of 35 per cent over the previous year on a high base of Rs 1 lakh crore.

FM Nirmala Sitharaman

18 Aug 2024

FM Sitharaman To Meet PSU Banks, RRBs Heads For Performance Review On Aug 19

The review meeting will also focus on several critical areas. Finance Minister along with other participants will review deposit growth, the credit-to-deposit ratio, and asset quality, which are vital indicators of the banks' health.

20 Apr 2023

RBI Guv To Meet Board Members Of PSU Banks On May 22

Besides the governor, the RBI communication sent to all public sector banks said, deputy governors, executive directors from its Department of Regulation as well as Supervision will be attending the meeting.

12 Feb 2023

PSU Banks' Profit Jumps 65% in Q3; BoM Tops Chart With 139% Surge

PSBs have logged a robust profit growth of 65%. Bank of Maharashtra emerged as the top performer. Bank of Maharashtra recorded a 139% jump in profit.

public sector banks

10 May 2021

2,118 branches of 10 state-run banks closed or merged in last fiscal

2,118 branches of 10 PSU banks. 1,283 branches of Bank of Baroda were either closed or merged. No branch of Bank of India and UCO bank was closed in the last fiscal.

04 May 2021

Sensex ends 465 points lower, Nifty slips below 14,500 amid lockdown worries

Dr Reddy's was the top loser in the Sensex pack, shedding around 2 percent, followed by Reliance Industries, Sun Pharma, HDFC twins, Infosys, M&M and PowerGrid. On the other hand, ONGC, Bajaj Finance, TCS, Nestle India, and SBI were among the gainers. Barring PSU banks, selling pressure was visible across the sectors with pharma witnessing steep correction.

09 Sep 2019

Cabinet may take up capital infusion in BSNL, MTNL in September

The funds infusion in both BSNL and MTNL, according to sources will be through bonds as has been the case of PSU bank recapitalisations.

04 Sep 2019

Merger of 10 Public Sector banks, governance reforms may improve performance

The rating agency said that though the proposed amalgamations may face hiccups in short term, the governance reforms are a step in the right direction to improve the overall functioning of PSBs.

04 Sep 2019

'Benefits of PSB mergers likely over medium-to-long term'

Centrum Broking Research's report said that the consolidated banks will likely see an improvement in economies of scale and efficiency of operations over the medium-long term.

exchange traded fund

28 Jun 2019

FinMin invites bids from advisors to launch financial sector ETF

After the resounding success of CPSE ETF and Bharat-22 ETF, the government is looking at diversifying the ETF basket by including stocks of public sector banks (PSBs), public sector insurance companies (PSCIs) and public sector financial institutions (PSFIs).

bank capital infusion

29 Mar 2019

Five PSU lenders get capital infusion of Rs 21,428 cr from govt

Earlier, the bank raised Rs 261 crore to its share capital in January under Employee Stock Purchase Scheme (ESPS) in which as much as 92 percent of the employees participated which resulted into over-subscription of bank stock.

18 Feb 2019

Will meet bank heads on Feb 21 on transmission of rate cut, says RBI Guv

Earlier this month, the Reserve Bank cut the benchmark interest rate by 0.25 per cent to 6.25 per cent.

Additional capital infusion

20 Dec 2018

Govt likely to make additional capital infusion in PSU banks: Garg

This will be over and above Rs 1.35 lakh crore capital infusion announced by the government for the public sector banks (PSBs) in October last year to meet global capital risk norms called Basel III.

01 Oct 2018

Arun Jaitley fires back at Rahul Gandhi, defends loan write-offs

Arun Jaitley has blamed Congress for spreading misinformation about government's possible moves in relation to the private sector company ILF&S.

Getting It Right

20 Jul 2018

Narendra Modi's foot-in-mouth ministers should measure their words

Two Union ministers made statements that directly undermine the rule of law. This could have dangerous repercussions.

State Owned Banks

25 Jun 2018

Heads of 11-PSBs to appear before Parliamentary Panel over mounting bad loans

The banking sector is grappling with rising non-performing assets (NPAs), which touched Rs 8.99 lakh crore or 10.11 percent of total advances at December-end 2017.

Moody's Investors Service

04 Jan 2018

Higher NPA provisioning to impact banks in 2018/19: Moody's

The government in October last year announced plans to infuse Rs 2.11 lakh crore into PSU banks over the next two years.

29 Nov 2017

GST will become good and simple tax in a few months: Minister

Addressing the 116th annual session of the Merchants' Chamber of Commerce and Industry in Kolkata, Minister of State for Finance Shiv Pratap Shukla said by March, the GST will be simple enough for everyone to comprehend.

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