The performance of banking and information technology (IT) stocks has had a significant impact on the composition of diversified mutual fund (MF) portfolios. Over the past two months, these sectors have become increasingly dominant, now constituting nearly 30 per cent of the total allocation in many diversified MF portfolios.
As many as 20 public sector banks, including big ones like Canara Bank, Bank of Baroda and Union Bank, have failed to achieve the annual farm sector lending target till November, 2009.
PSU banks must be privatised, say experts.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
The Supreme Court of India has upheld an order directing NBCC to complete 16 delayed housing projects of Supertech Limited, providing relief to thousands of homebuyers who have been waiting for nearly two decades.
The Supreme Court of India has upheld an order directing NBCC to complete 16 delayed housing projects of Supertech Limited, providing relief to thousands of homebuyers who have been waiting for nearly two decades.
Arun Jaitley addressed a post-Budget press conference.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Today, banks are being asked to discover niche strengths and focus on them
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
With the restructuring process in full swing, public sector banks have stepped-up monitoring to keep non-performing assets (NPAs) at desired levels.
The government also informed that it has been decided to entrust IBPS the responsibility to conduct the common recruitment examination for PSBs.
The Reserve Bank of India is formulating guidelines that would allow government-owned banks get into the private equity business.
Interest rates are set to fall again with public sector banks today agreeing to lower deposit and lending rates next month.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
Public banks face slowdown heat.
Activity in the corporate bond market is set to gain momentum following a 25-bp policy repo rate cut by the rate-setting panel of the Reserve Bank of India (RBI). State-owned public cebPower Finance Corporation (PFC) and Small Industries Development Bank of India (Sidbi) are planning to raise up to Rs 11,500 crore through bonds on Tuesday as issuers expect borrowing costs to ease.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
Public sector lenders led by State Bank of India said on Monday that they will look at further interest rate cuts.SBI chairman O P Bhatt told reporters after a meeting with Finance Minister Pranab Mukherjee that the bank is considering cutting its prime lending rate for the second time in as many months.
Public sector banks may have to bear a burden of Rs 1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said. The judgement covers loans above Rs 2 crore as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
The government on Thursday approved a proposal to inject Rs 12,517 crore in public sector banks to help them enhance the lending activity and meet the capital adequacy norms.
The government is likely to infuse additional capital of Rs 20,000 crore in the public sector banks next financial year to meet Basel III global capital risk norms.
Gartner Inc, the research and advisory firm, expects mergers and acquisitions in public sector banks to gain momentum during the next couple of years, as the Indian government is "poised to increase" foreign holding in Indian banks.
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
Report points out corporate vulnerability indicators remain elevated.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
The government may infuse about Rs 10,000 crore (Rs 100 billion) as equity capital in nationalised banks in addition to an identical amount in the country's largest lender, State Bank of India (SBI). Nationalised banks with the government holding closer to the floor of 51 per cent are likely to receive the capital infusion support.
The one-year returns for equity-oriented mutual fund (MFs) schemes have largely mirrored the gains made in the secondary market. However, schemes that invest in infrastructure (infra), small-cap, and public sector undertaking (PSU) banks have emerged standout performers, with gains in excess of 100 per cent in some cases. Of the total 484 equity schemes, 353 have managed to beat the Sensex, reveals the data provided by Value Research. Around 20 have delivered returns in excess of 90 per cent and six schemes have given returns of over 100 per cent in the past one year. The S&P BSE Sensex Total Return Index (TRI) has given returns of 51 per cent in the last one year, ended October 29.
The All India Bank Employees Association, Bank Employees Federation of India, All India Bank Officers' Association and National Union of Bank Employees have given a call for one day country-wide strike.
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State oil refiners, who are the biggest buyers of US dollars, agreed to implement the RBI order with immediate effect, sources with direct knowledge of the development said.
The government on Friday approved a capital infusion of Rs 15,000 crore (Rs 150 billion) in public sector banks (PSBs) in the current fiscal, a move that will increase the lending capacity of the banks by Rs 1.85 lakh crore.
RBI's interest rate decision, macroeconomic data announcements and global trends are the key factors that would dictate the momentum in the equity market this week, analysts said.
