Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
As public sector bank employees started a two-day strike on Monday seeking higher wages, Finance Minister P Chidambaram said the profit of banks cannot be used only to enhance salaries because there are other obligations.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
Maharashtra and West Bengal lead the way in bank fraud.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
The government is likely to infuse Rs 3,000 crore in seven public sector banks to shore up their Capital Adequacy Ratio (CAR) to 12 per cent to improve the market confidence in the banking sector.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
Overall, from a three- to five-year perspective, prospects of the Indian economy and consequently the banking sector are promising.
Letter to corporate affairs ministry cites slowing economy, capital challenges.
The sector seems set for a rally that may be somewhat temporary.
Several Indian banks have alerted their customers not to download apps from any source other than official app stores. Banking customers are being targeted by a new type of mobile banking malware campaign using SOVA Android Trojan. This malware captures the credentials when users log onto their net-banking apps and access bank accounts. The new version of SOVA appears to be targeting more than 200 mobile applications, including banking apps and crypto wallets.
The rally followed the govt's plan to bolster state-owned lenders.
Moody's Investors Service on Thursday downgraded subordinated debt ratings of 11 Indian banks, including SBI, ICICI Bank and HDFC Bank.
As banks' chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and state-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50 per cent per annum deposit rate. Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch.
'The pricing model will be different. The product will be different.'
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Small charges might seem inconsequential. They can pile up, though.
The intensification of global financial crisis in the second half of 2008 had forced Indian companies to put on hold their global plans. When going was good till early 2008, Indian banks -- both public and private sector -- played their part, albeit as junior partners to large international banks, in funding deals.
Breaking his silence after a long time, to state the "factual position in response to the controversy unfortunately surrounding" him, Mallya said he had written letters to both the prime minister and the finance minister on April 15, 2016, to explain his side of the story. "No response was received from either of them," he said in a statement.
Banking secot to see major changes by 2020.
The number of persons employed in 27 sectors, including agriculture, trade and financial services, increased by 3.31 per cent year-on-year to 59.66 crore in 2022-23, according to data published by the RBI on Monday. During 2021-22, the employment in these 27 sectors stood at 57.75 crore.
The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than 10 lakh (1 million) employees and officers of banking Industry under its umbrella.
The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
The finance ministry has finalised the top-level reshuffle in public sector banks.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The decision in this regard, however, is expected to be taken by the new government.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
World Bank has sounded the warning bells for Indian banks and financial institutions on their high non-performing assets and the risks of suffering losses if interest rate starts rising.
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
As their non-performing assets have risen sharply even as loans have remained stagnant, RBI steps in with stringent loan-management measures.
Axis Bank and ICICI Bank consumed 37-59 per cent of their operating profit for COVID-19 provisioning, while the figure is 24 per cent in case of Kotak Mahindra Bank and 10-12 per cent for IndusInd Bank and HDFC Bank.
The Indian Banks' Association recently mooted a proposal for a centralised admission test for commercial banks in the country.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
In an effort to boost credit flow to the housing sector, public sector banks are going to finalise the new interest rate regime for home loans up to Rs 20 lakh (Rs 2 million) on Thursday.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
