Some banks have seen gross non-performing assets as high as 15 per cent in their education loan portfolios.
Non-banking financial company (NBFC) Tata Capital is set to launch its much-anticipated $2 billion (Rs 17,200 crore) initial public offering (IPO) in the week beginning September 22, market sources familiar with the matter said on Sunday. The issue is expected to value the company around $11 billion, they added. Tata Capital is likely to make its stock market debut by September 30.
The private corporate sector showed improvements across various segments in the third quarter of the current financial year (Q3FY25), with the operating profit margin of listed non-financial companies increasing sequentially by 50 basis points (bps) to 16.2 per cent, according to the Reserve Bank of India (RBI) data released on Monday. Sales of listed private non-financial companies increased by 8.0 per cent during Q3FY25, compared to 5.5 per cent in the corresponding quarter a year ago. It was, however, 5.4 per cent in Q2FY25.
Subbarao also warned of attrition in PSBs, saying, "PSBs will lose talent to the private sector."
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
Also, there were not many clients in the market as they had already made alternate arrangements due to the strike.
This marks the strongest DRHP filing tally since 1996, when 428 firms sought to enter India's equity markets.
Public sector banks require Rs 2.40-lakh crore.
Because of lower ratings, these companies would have to pay higher rates if they raised money directly.
As many as 2.17 lakh pieces of fake notes of various denominations were detected during 2024-25 compared to 2.23 lakh such notes in the previous year, Parliament was informed on Monday. Of this, highest -- 117,722 pieces -- counterfeit notes of 500 [MG (New) Series] were detected in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.
Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
Former RBI governor D Subbarao has suggested that the government should come up with a 10-year road map for privatisation of all Public Sector Banks (PSBs) as it would provide much needed predictability to stakeholders. Subbarao further said that the big bang approach to privatisation of state-owned banks is not desirable but at the same time the issue should not be put on the back burner. "Ideally, we should have a road map, maybe over a 10 year timeframe, to privatise all PSBs. "That will give much needed predictability to all stakeholders," he told PTI.
In the policy banks, the government can have 100 per cent stake, McKinsey said.
Union Finance Minister Arun Jaitley is set to present the Budget next month.
What is currently perceived as a massive, low-tech liability could become a high-value, export-oriented economic engine, points out Ajit Balakrishnan.
Dissatisfied with the wage hike offer made by Indian Banks' Association (IBA), public sector lenders' employee unions on Monday threatened to go on a two-day strike from February 10.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
Finance Minister P Chidambaram on Tuesday said private sector banks will be forced to cut lending rates sooner than later due to competition from public sector counterparts.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
BoI, Union Bank follow, earnings to be impacted.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Finance Minister P Chidambaram on Monday favoured mergers in the banking industry so that India can have two-three global sized banks.
Here's how the move will affect the banks' customers.
Chief Election Commissioner (CEC) Rajiv Kumar, set to retire next month, plans to spend several months in solitude in the Himalayas. He also expressed a desire to teach underprivileged children, recalling his own humble beginnings. Kumar's tenure as CEC saw him oversee landmark elections, including the 16th Presidential and Vice-Presidential elections in 2022 and assembly elections in 11 states.
"We do not have a presence there right now and will start operations by end of the third quarter of the next fiscal," said the bank's Chairman and Managing Director Bhaskar Sen.
Moody's expects that India will record the GDP growth of around 7.5 per cent in 2015 and 2016.
With recruitment numbers having dropped off sharply since the liberalisation process got under way in 1991, large-scale retirements of people hired during the 1970s and 1980s will leave large gaps in the organisational structures of these banks.
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
The government has once again tweaked the rules for selection of public sector banks chiefs.
The National Company Law Appellate Tribunal (NCLAT) has allowed state-owned Canara Bank and Indian Bank to pursue proceedings against former IL&FS directors, who are not part of the new board, to declare them as wilful defaulter. However, the appellate tribunal said those directors who are part of the new board of Infrastructure Leasing & Financial Services (IL&FS) and its various subsidiaries after October 1, 2018, would remain protected.
Both the regulator and bank managements will face the challenge of restoring confidence.
The DMK may consider a two-tier campaign, where they keep the focus on Chief Minister Stalin, as a senior statesman with 50-plus years of political experience, and let EPS and the BJP shout in the wilderness. In such a case, the second-tier may project Udhayanidhi as the contender and chosen obstructionist in Vijay's path. The attempt, if any, would be to reduce Vijay to Udhayanidhi's level when the former is aiming at Stalin and Stalin alone in the state's political horizon, predicts N Sathiya Moorthy.
Unions claimed that about 10 lakh staff and officers of public sector banks and some private sector banks are participating in the strike.
