PSU Banks

Wednesday, Apr 24, 2024 | Last Update : 12:54 PM IST

The market is likely to cheer the breakthrough in the trade war front as stocks may rebound from the deeply oversold zone.

Stocks likely to rebound

Investors will be critically looking at industrial production data and the manufacturing output numbers, followed by inflation figures.

09 Sep 2019 1:32 AM

The mega bank merger, announced by the government last Friday, has not gone down well with investors, who dumped public sector bank shares, when the market opened after a three-day break on Tuesday.

Doubting stock market punishes PSU banks

Investors are not convinced about the ability of anchor banks to absorb their weaker partners.

04 Sep 2019 12:42 AM

The Union would meet in New Delhi on September 11 to decide on going on strike.

Bank employees stage protest against Centre's decision to merge PSU banks

Employees of all public and private sector banks wore black badges to work as a mark of protest to the govt's decision.

31 Aug 2019 2:19 PM

The mergers are part of the government’s attempt to consolidate the public sector banks. (Photo: ANI)

Changes to expect after FM’s announcements on PSU bank mergers

Finance Minister Nirmala Sitharaman said, ‘We want banks with strong national presence and enhanced risk appetite.’

30 Aug 2019 7:14 PM

GDP growth has slipped to 5-year low of 6.8%, in addition, public sector banks will need capital for credit growth

FinMin assessing capital needs of PSBs; Budget may make provision for Rs 30,000 cr

The government made record capital infusion of Rs 1,06,000 crore in the public sector banks last fiscal.

17 Jun 2019 11:17 AM

The first budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister Nirmala Sitharaman on the backdrop of India's economy hitting 5-year low growth of 6.8 per cent in 2018-19. (Photo: File)

Govt likely to provide Rs 30,000 crore to PSU banks in Budget 2019

The public sector banks would also require capital for the credit growth, which has just started picking up.

16 Jun 2019 3:27 PM

The plan to launch a bank ETF comes on the back of the government seeing huge investor demand for two existing ETFs.

FinMin to launch ETF with bank stocks, fin institutions this fiscal

Govt is looking at diversifying the ETF basket by including stocks public sector banks and financial institutions.

26 May 2019 10:35 AM

The Nifty PSU Bank Index was up 7.88 per cent, BSE Bankex and Nifty Bank indices gained 4.68 per cent and 4.45 per cent, respectively as private banks also rallied.

Short covering in PSU scrips

Analysts said PSU banks looked oversold and there was short covering, with the market sentiment turning positive as the exit poll came as a surprise.

21 May 2019 2:34 AM

The Sensex surged 537 points or 1.44 per cent to closed at 37,931 while the Nifty ended at 11,407, up 150 points or 1.33 per cent.

Market shows tremendous strength

The market will react to exit polls in early trade on Monday and that could set the tone for the rest of the day as well.

18 May 2019 2:51 AM

Mallya is facing trial for alleged fraud and money laundering amounting to Rs 9,000 crore and is currently facing trial at a London court. (Photo: AFP)

One or the other is lying: Mallya raises question on Indian Banks, PM Modi

In an interview to a news channel, Modi had expressed satisfaction over the fact that Mallya’s extradition process was in the last stage.

18 Apr 2019 9:42 AM

The Nifty 50 Index gained 45 points to close at 11,669.

Profit booking at higher levels likely

The Sensex closed up 198 points higher at 38,871, after touching a record 39,115.57 in morning trade.

02 Apr 2019 6:24 AM

Finance Minister Arun Jaitley. (Photo: ANI)

Govt keen on merger of PSBs to create globally competitive, healthy large banks: Jaitley

Reserve Bank insisted that banks should provision for all stressed assets so that only sound banks survive.

28 Feb 2019 3:53 PM

PSU banks are told to lend more, create jobs

The Centre is keen to increase lending, especially to medium and small enterprises, which are the major job creators.

29 Jan 2019 1:14 AM

Finance Minister Arun Jaitley. (Photo: PTI)

7 PSU banks set to get Rs 28,615 crore lifeline in 4 days

Of the 7 state-owned banks, Bank of India may get the highest amount of Rs 10,086 crore.

28 Dec 2018 11:21 AM

The union is also opposing the government proposal to merge Bank of Baroda, Vijaya Bank and Dena Bank.

PSB officers on strike, protesting merger, seeking wage hike

Around 3.20 lakh officers from various state-run banks have called for a one-day strike.

21 Dec 2018 4:05 PM

The government earlier this year pumped Rs 11,336 crore in five PSBs.

Govt to infuse Rs 42,000 cr in PSU banks by March; next tranche likely in Dec

Out of the Rs 1.35 lakh crore, the government has already infused about Rs 82,000 crore through the bonds.

26 Nov 2018 3:06 PM

As per the plan, the PSBs were to get Rs 1.35 lakh crore through re-capitalisation bonds, and the balance Rs 58,000 crore through the raising of capital from the market.

Finance Ministry likely to stick to capital infusion programme for PSU banks

Out of the Rs 1.35 lakh crore, the government has already infused about Rs 82,000 crore through recap bonds.

23 Nov 2018 5:00 PM

Finance Minister Arun Jaitley (Photo: Twitter | ANI)

PSU banks achieved 41 per cent of crop loan target in state

Farmers from thousands of villages have been suffering due to drought and lakh of farmers have failed to get loans from banks.

01 Oct 2018 2:33 AM

Heed Rajan’s advice to save India’s banks

The only conclusion is that banks are still tied to the government’s apron strings.

13 Sep 2018 12:32 AM

PSU banks should have the same level of operational freedom as being enjoyed by private sector lenders in order to help them resolve their issues including bad loans, Bank of India non-executive chairman G Padmanabhan said on Friday.

PSBs should have operational freedom like private players: official

There are limitations with respect to ownerships in public sector banks but those issues can be easily resolved.

24 Aug 2018 5:10 PM

Banks have to undertake a two-year transaction audit when they start the resolution process through IBC.

Finmin asks PSU bank CEOs to check frauds in NPAs or face penal action

SFIO is also looking into the books of companies which are currently undergoing debt resolution.

22 Aug 2018 5:32 PM

Further, a continuous push to reforms such as GST, PSU bank recapitalisation and time-bound insolvency resolution would also support the recovery, said CII.

India Inc expects recovery in demand, investment

The chamber said that out of the sectoral responses received for 70 sectors, there was a sharp increase in the sectors witnessing ‘excellent’ growth.

13 Aug 2018 12:32 AM

A host of auditors — both internal and external — and RBI inspectors failed to get a whiff of the fraudulent transactions being made since 2011.

Fraud casts doubts on banks

Analysts say PNB episode expands risk areas for banks; claim PSBs use faulty procedure.

16 Feb 2018 7:57 AM

Parliament's approval has been sought for meeting additional expenditure towards recapitalisation of Public Sector Banks. (Representational Image)

PSU bank stocks in limelight; shares gain up to 8.5 pc

Release of next instalment of funds earmarked for bank recapitalisation proved to be a shot in arm for PSBs.

04 Jan 2018 5:34 PM

Many a times banks get calls from politicians to oblige their friends, and when these loans go bad it is unfair that the common man should be made to pay.

Another bid to loot public money

Bank deposits are to be used for productive purposes and not to bail out defaulters.

05 Dec 2017 4:39 AM

Gross NPA in Canara Bank as on September 30 this year stood at Rs 39,164 crore while the net NPA at Rs 25,166 crore.

Canara Bank employees against merger of smaller PSU banks

Merger would not bring any relief to the ‘ailing’ banking industry as the increasing Non Performing Assets.

24 Nov 2017 6:40 PM

Indian shares were largely unchanged in lacklustre trading on Monday following heavy gains on Friday. (Photo: PTI)

Sensex little changed in late morning trade; PSU banks down

The broader NSE Nifty was nearly flat at 10288.85 at 0624 GMT, while the benchmark BSE Sensex was up 0.05 per cent at 33,367.53.

20 Nov 2017 1:00 PM

The paper noted that most of the churning is taking place in telecom, financials, IT, realty and infrastructure.

Job outlook dim: Assocham

Cites India Inc’s focus on rationalisation of costs as primary reason.

20 Nov 2017 1:22 AM

Finance Minister Arun Jaitley. (Photo: AP)

Jaitley-led panel may direct banks to examine merger proposal

Alternative Mechanism would devise its own procedure for appraisal of amalgamation proposals by banks.

02 Nov 2017 9:00 AM

P Chidambaram is India's former Finance Minister and Senior Congress leader. (Photo: PTI)

Would have quit as FM if forced to implement note ban: Chidambaram

Demonetisation and 'rushing through with the GST were two major mistakes' of the Modi government.

28 Oct 2017 6:48 PM

Chidambaram asks if all is well with economy then why banks' recap?

Former Finance Minister claims Indian economy grew at its best rate of 8.5 per cent from 2004 to 2009, first UPA rule.

28 Oct 2017 5:15 PM

Finance Secretary hints at increased capital expenditure by PSUs

Lavasa emphasises on need to increase public investment, for which bold steps will be taken by govt to recapitalise banks.

25 Oct 2017 5:35 PM

Finance Minister Arun Jaitley with RBI governor Urjit Patel at an event. (Photo: PTI)

Banks' recap safeguards India's economic future: Patel

RBI governor adds later a comprehensive policy would be put in place to address challenges faced by banking sector.

25 Oct 2017 2:47 PM

Banks have been reeling under bad loans, stressed assets and NPAs. (Photo: Representational/PTI)

India's bad loans and stressed assets estimated at Rs 10 lakh crore

Govt has pledged Rs 2.11 lakh crore recapitalisation plan for state-owned banks over next two years.

25 Oct 2017 1:50 PM

Finance ministry said that the domestic investment of the private sector continued to be affected by the growing contamination of loans advanced in the past, which have now become unsustainable.

PSU banks will get fresh Rs 2.11 lakh crore in funding

In the last three-and-half years, the government has pumped in `58,848 crore capital in the public sector banks.

25 Oct 2017 2:17 AM

Cabinet approves massive Rs 9 lakh crore boost for economy

PSU banks will get Rs 2.11 lakh crore capital to increase lending; Rs 6.92 lakh crore for 83,677-km new road, highway infrastructure.

25 Oct 2017 12:36 AM

Govt approves Rs 2.11 lakh crore recapitalisation package for PSU banks

Fin Min says recapitalisation programme is essential to increase public spending on infrastructure.

24 Oct 2017 6:06 PM

Mergers of PSU banks should be done only after balance sheets are cleaned up, said former RBI governor Raghuram Rajan. Photo: AFP

PSU bank mergers should be done after balance sheet clean up: Raghuram Rajan

Rajan also suggested that decisions need to be made by those who understand the banking system.

12 Sep 2017 4:52 PM

Merged entity began operation with deposit base of more than Rs 26 lakh crore and advances level of Rs 18.50 lakh crore.

'Govt ready to provide capital support for PSU banks' merger'

State-owned banks are grappling with Rs 6 lakh crore worth of non-performing assets or bad loans.

27 Aug 2017 2:12 PM

The Indian Banks' Association had already informed customers that functioning of branches and offices may take a hit if the strike takes off. (Photo: PTI/File)

PSU bank employees go on strike; services hit

The strike has been called by all unions under the aegis of the United Forum of Bank Unions (UFBU).

22 Aug 2017 11:06 AM

Finance Minister Arun Jaitley and RBI governor Urjit Patel at an undated event. (Photo: PTI)

Give more funds to banks to end bad loans crisis: Patel

Patel says extra funds could be raised at market and through govt diluting its stake in state-run banks.

19 Aug 2017 1:14 PM

S&P expects the government's commitment of support to PSU banks remains in place.

PSU banks need Rs 1.9 lakh cr capital by March 2019: S&P

Public sector banks will need substantial capital to make large haircuts on loans to unviable stressed projects.

01 Aug 2017 6:53 PM

Government pushes PSBs to explore acquisition of smaller banks

Large PSBs like Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India could look for potential candidates for acquisition.

18 Jun 2017 1:05 PM

Earlier this year SBI merged into itself five associate banks and Bharatiya Mahila Bank, making it part of the league of top 50 banks in the world.

Another PSB merger likely

FM to meet with PSU banks to discuss ways to solve bad loan problem.

10 Jun 2017 3:56 AM

Govt gives green signal to PSU bank merger

Finance Minister Arun Jaitley said the government is examining the possibility of consolidating some PSU banks.

06 Jun 2017 10:31 AM

7 PSU banks get new heads; MDs of PNB, BoI shifted

Toxic loans of public sector banks rose by over Rs 1 lakh crore to Rs 6.06 lakh crore during April-Dec 2016-17.

06 May 2017 11:26 AM

NSE index Nifty was down 0.46 per cent at 9,316.55 as of 0530 GMT, while the benchmark BSE index Sensex was 0.49 per cent lower at 29,979.16.

Nifty down after hitting record high; oil explorers hit

Nifty PSU bank index rose as much 2.35 per cent to its highest since March 4, 2015.

05 May 2017 12:56 PM

The government has proposed a penal tax rate of 50 per cent to 'incentivise' black money hoarders to switch to formal economy.

Govt to meet its fiscal deficit target of 3 pc for FY17

The Ministry of Finance proposes to tax black money unearthed in the future at 75-85 per cent.

29 Nov 2016 2:28 PM

Senior officials at SBI said that the bank’s cost of funds would come down in the coming days due the sudden spike in inflows into the current and savings account.

Cash surge may force banks to raise capital

Experts hint smaller PSU banks will struggle to raise the additional capital following recent deposits.

14 Nov 2016 1:16 AM

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