The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
Central Bank of India's 21.5 per cent assets are either bad or have been restructured.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
In the semi-finals of the DDA invitation hockey tournament, IOC will play Punjab Police, while Punjab and Sind Bank will meet Army XI.
The former trounced CRPF while the policemen got the better of Indian Oil in the semi-finals of the \n\nthe Shivaji hockey tournament.
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.
A goal in each half enabled the policemen beat Punjab and Sind Bank 2-0 in a one-side final.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions.
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
The drop in net interest margin will separate the men from the boys, explains Tamal Bandyopadhyay.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman on Monday said the government would infuse Rs 20,000 crore into public sector banks (PSBs) in 2021-22, to meet the regulatory norms. For the current financial year also, the government had made a provision of Rs 20,000 crore for recapitalisation.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
A week after the Reserve Bank of India (RBI) raised key policy rates and asked banks to restrain loan growth as deposit mobilisation remains slow, three state-owned banks responded on Monday by increasing their benchmark lending rates and deposit rates.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
Punjab and Sind Bank trounced Air India 6-0 in the Dhyan Chand Cup hockey tournament.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Many from this small lender have made it to other bank boards over the past 5 years
The candidate will be expected to have at least two to three years of remaining service.
HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent.
The finance minister has said that United Bank has managed to reduce its non-performing assets.
Second-half goals from penalty-corners gave the Punjab side a 2-0 win in their opening match in the Bombay Gold Cup hockey tournament.
Guru Gobind Singh Indraprastha University (GGSIPU) invites applications for its undergradaute and postgraduate courses for the academic year of 2008-09.
Monetary transmission has been an issue for the Indian banking sector.
Punjab and Sind Bank beat Indian Oil 2-0 in the final to win the Major Rangaswamy Trophy.
Sandeep Singh 's brace from penalty-corners gave Airlines a 2-0 victory over Punjab and Sing Bank in the final
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