Public Sector Banks
Increase coverage under Atal pension scheme: Govt to PSBs
Government has asked banks to take steps to increase coverage under the Atal pension scheme as lenders failed in meeting the sales target for the social security scheme in the last financial year.
India will have 8-10 “very competitive” state-owned banks after consolidation: Jayant Sinha
Jayant Sinha said India would have 8 to 10 "very competitive" state-owned banks after an ongoing consolidation phase, a sharp reduction from the 27 currently in existence.
Clean up banking sector, create 5 large, structurally unconstrained government-promoted banks
Clean up the sector, create five large, structurally unconstrained government-promoted banks.
Cumulative loss of 20 PSBs stands at Rs 14,283 crore
The cumulative loss of 20 public sector banks (PSBs) that have declared their Q4FY16 results as of Wednesday has crossed the $2 billion mark. In fact, at R14,283.5 crore, their losses put together, are more than the current m
Poor asset quality of PSU banks a risk to India’s sovereign rating: Moody’s
High corporate leverage poses systemic risks if adverse growth and financial conditions pressure borrowers' repayment capacity, Moody's said.
India best among EMs; health of PSBs, corporates a worry: IMF
IMF's financial counselor Jose Vinals said that India is the best placed among emerging markets, but underlined that it has problems of its own which need to be dealt with.
‘High capital needs may hit PSBs’ growth, profitability in FY17’
Most public sector banks are likely to face pressure in terms of growth and profitability during FY17 owing to their high capital requirements, both from the government and the capital market, India Ratings said in a report o
PSBs must gear up to handle a big market
With increasing emphasis on ‘Make in India’, public sector banks should be prepared to support a market growing organically
PSBs don’t need to go to market in distress: Hasmukh Adhia
Hasmukh Adhia said that the finance ministry is working to strengthen fraud detection processes at PSBs.
Centre unveils public sector banks revamp road map
The government on Friday unveiled a seven-point revamp agenda for public sector banks with worrisome levels of stressed assets, the central theme of which was an assertion that their commercial decisions would be left largely
Public sector banks to get Rs 20,088 cr capital in a month
The government on Friday said R20,088 crore of capital would be infused in 13 public sector banks (PSBs) in a month, as part of its four-year (FY16-FY19) plan to enable PSBs to create a safe buffer to meet Basel-III norms and
India expects state banks to raise $12.3 bn to boost balance sheets
The Indian government expects public sector banks would be able to raise 800 billion rupees ($12.31 billion) from the markets to strengthen their balance sheets, Financial Services Secretary Hasmukh Adhia said on Friday.
Govt seeks to give PSBs a Rs 70,000-crore lifeline in next 4 years
The government's current proposal is to infuse Rs 25,000 crore each in this fiscal and the next (the PJ Nayak committee had estimated PSBs' capital requirement at Rs 34,000 crore in FY16 and Rs 76,000 crore in FY17) and Rs 10
Tax payers need to know how PSBs write-off bad loans: HC
According to information procured by RTI activist, Sanjay Shirodkar, around 14 PSUs such as SAIL, Coal India, and ONGC had showed more than Rs 7,500 crore as bad debts between 2006 to March 2012.
PSUs, Central depts to get Rs 1 cr per MW to set up solar units
The projects have to be implemented by 2017 and the PSUs and ministries would be free to use the power so generated for either self-use or sell it to third party or discoms.
