Many are now cheaper after stock splits. But look at key parameters
It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
Investment growth moderated slightly in the economy during the first quarter (Q1) of the current financial year (2023-24, or FY24), notwithstanding the front-loading of capital expenditure (capex) by the Centre. This was also the case despite a pick-up in demand during the period after two dismal consecutive quarters. Although growth in gross fixed capital formation (GFCF), representing investment, fell to a five-quarter low of 7.96 per cent, the comparison with the first two quarters of the previous year is a bit askew due to the low year-on-year (Y-o-Y) base of those periods.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
There is a huge gap in service charges on other factors such as penalty on cheque return.
The bank manager clarified to him that the currency was genuine and there might have been a printing error.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
You cannot do much to ensure that the documents banks take from you before giving a loan do not get damaged
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Many from this small lender have made it to other bank boards over the past 5 years
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
Vijay Mallya left India on March 2, presumably for London.
A head of its meeting, the Reserve Bank of India (RBI) can take some solace from the softening food commodity prices. However, the events surrounding the last few weeks show that the fall may not be uniform across all commodities, and cereals like wheat and rice could be the outliers. A Reuters report said that local wheat prices jumped to a record Rs 23,547 per tonne on Wednesday. That is a 12 per cent rise from the recent lows that followed the government's surprise ban on exports on May 14.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
Public sector lender Bank of Baroda on Thursday said it was targeting to increase business by almost 50 per cent to Rs 300,000 crore (Rs 3000 billion) by 2010, while also expanding international operations and acquiring banks overseas.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Banks are in need of government support to manage the stressed assets
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
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