The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
RBI Governor would like to wait till Budget before taking any action on rate front.
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Banks had a tough time in recovering loans from corporates in 2014.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
On Monday, RBI announced that 26 entities, including Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital, L&T Finance and Bajaj Finserv, applied for grant of bank licences.
The banks also wanted disclosure of assets of Mallya's other close relatives and former relatives, including his ex-wife, which was objected by his counsel.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
An obscure Indian bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall.
Banks might hold on to lending rates for the time being.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
NHAI to pay only Rs 175-200 cr as it takes over from concessionaire
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
The regulator has put a cap on the business a bank can get from a single insurer.
More than 10% (40 of 498 companies) have lost at least half their market value.
YES Bank raises base rate; HDFC Bank, Axis hike deposit rates.
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Delayed project delivery and unrealistically high real estate prices, which developers are unwilling to lower despite piled up inventories, have adversely hit the sector.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
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