Today, banks are being asked to discover niche strengths and focus on them
In a move that is likely to attract political controversy, the committee on financial sector assessment has recommended that the banking sector should be gradually opened to foreign players and that the government lower its shareholding in public sector banks below 51 per cent and allow state-owned players to merge if the Centre's stake cannot go below the prescribed lower limit.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
Finance Minister P Chidambaram on Thursday made a double pitch for public sector companies. First he urged private sector companies to enter into joint venture partnership with PSUs
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
The government has approved a Rs 517 crore (Rs 5.17 billion) package to clear the pending salaries and statutory dues of 4,500 employees of 24 ailing PSUs, Heavy Industries Minister Santosh Mohan Deb said on Thursday.
Public banks face slowdown heat.
If you are buying a bond to cater to your regular income needs, check the interest distribution schedule.
Nearly 55,000 officers of 14 public sector oil companies have decided to strike work indefinitely from January 7 to seek higher wages, Association of Scientific & Technical Officer's vice president P K Sharma said in New Delhi on Tuesday
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The minister said RBI maintains a list of non-suit filed borrowers of banks and financial institutions, while CIBIL had a database on suit-filed accounts of Rs 1 crore (Rs 10 million) and above.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Amid stiff competition from private and foreign players, the country's 27 public sector banks logged 35 per cent growth in profit at Rs 16,546 crore (Rs 165.46 billion) while their bad assets fell below 3 per cent during 2003-04.
Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.
Unwilling to compromise autonomy for a hefty pay hike announced on Thursday, several PSUs chiefs on Friday conveyed displeasure to the government over a directive asking them not to create senior posts in their units without the approval of their administrative ministries.
Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Public sector banks have suddenly developed cold feet on raising lending rates even if it means sacrificing on their bottom lines.
Top level public sector executives, including directors and chief executives, will not be able to join private firms after retirement or resignation unless they get go-ahead from the government.
The Centre on Monday said nationalised banks, which were provided equity as part of capital restructuring need not return it.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
This apart, to further increase capacities, Bharat Biotech has partnered with Indian Immunologicals (IIL) to manufacture the drug substance for Covaxin. The technology transfer process is underway and IIL has the 'capabilities and expertise' to manufacture the inactivated viral vaccines at commercial scale.
With the new financial year kicking in and the equity markets showing signs of stability, the government is expected to soon initiate its divestment programme with renewed vigour.
The move comes even as Bank of India on Wednesday said its corporate clients will suffer mark-to-market losses of around Rs 125 crore. It has 34 clients with 74 derivative transactions. Last week, State Bank of India said its clients may incur MTM losses of up to Rs 700 crore at the end of March 2008.
A host of public sector banks had cut interest rates in the earlier part of this year following an advisory from Finance Minister P Chidambaram in January. Private and smaller state-owned banks, however, did not cut rates.
HUL was the top gainer in the Sensex pack, spurting around 3 per cent, followed by Infosys, M&M, ITC, SBI, IndusInd Bank, Bajaj Finance, Asian Paints, TCS and Bharti Airtel. On the other hand, Titan, PowerGrid and NTPC were among the laggards.
The LIC and some PSU general insurers are expected to maintain dominant position in the coming years even in the liberalised scenario, ICRA said in a research report.
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
