'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Higher net interest income and lower provisioning have helped banks to post record net profit growth in the last five quarters.
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.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
Public sector banks have suddenly developed cold feet on raising lending rates even if it means sacrificing on their bottom lines.
Though foreign banks outperformed domestic banks in quality services, they could not match the latter as public sector banks reigned supreme on the strength of their superior reach.
The minister said at a time when banks in the US and Europe needed government support for survival, banks in India were strong enough to sustain on their own.
'The primary market's rhythm mirrors investor confidence. While sentiment may appear cautious, it reflects maturity, not weakness.'
India's economic growth is expected to be lower at 6.3 per cent this fiscal compared to the RBI's projection of 6.5 per cent, a SBI Research Report said on Thursday. The report pegged the first quarter GDP estimate at around 6.8-7 per cent, mainly due to muted private capex.
PSB may get its first non-Sikh at the helm, vigilance clearances are awaited.
The minimum lending rate, or base rate, is what a bank can charge from a customer. The new regime, which will come into play from July 1, is intended to bring about more transparency in the lending operations of banks.
It will be headed by Secretary, Department of Financial Services.
"A very easy solution to suggest is tax-payers must pay because the private sector has defaulted," Jaitley said, adding that bank recapitalisation, where the government puts in more capital in public sector banks to shore up their books, effectively amounted to that. "Therefore, I think let's try and make the private sector pay for their debts or allow somebody else to step in."
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
While it is evident that the INDIA bloc has not shut its doors on Nitish Kumar, those within the NDA are hopeful that the JD-U's support base would benefit them as well
Of the 926 bank branches, 862 branches are of various public sector banks, while 35 are HDFC branches, 10 are ICICI Bank branches and 19 are Axis Bank branches, the Reserve Bank said.
IPOs have been the flavour of the season for some time. But the coming together of three mega IPOs, from diverse businesses and historic relevance, could tell a story that's still in the making, points out Nivedita Mookerji.
Normal operations in public sector banks, including cheque clearances and fund transfers, were on Thursday hampered for the second day because of the strike called by unions to protest against reforms in the sector and outsourcing of non-core services to private sector.
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.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Gross NPAs of public and private sector banks stood at Rs 2.41 lakh crore and 26,571 crore respectively.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
Finance Minister P Chidambaram has asked public sector banks to hold interest rates for housing loans at the current rate.
The prime minister also said that he expects inflation to come down in next two months. He, however, did not rule out 'indirect impact on th eIndian economy' due to the global financial crisis.
Continuing the flow of home loans and accessing low-cost deposits are two key elements of the government's instructions to public sector banks.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
