According to sources close to the developments, major PSU banks -- State Bank of India, Bank of Baroda, Bank of India, and Union Bank of India -- were likely to review the deposit rates for a possible upward move.
Foreign institutional investment flows remain key driver for the Indian markets.\n
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
'There is no change in the overall story of economic recovery.'
State-run banks that hiked interest rates without their respective Boards' nod last week are expected to obtain approval now, but none of them are likely to rollback the hike, bankers felt.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
The government on Monday said there was "tremendous" need for consolidation to enable banks gain financial muscle and absorb risks in the years to come.\n
The state-owned carrier Indian has finally made its way into the e-ticketing club.
The government on Monday said that its mantra for banking reforms would be 'consolidation, competition and convergence' to enable PSU banks to become more stronger, bigger and globally competitive.
The business intelligence applications in India is poised to grow to $70 million by 2007, registering a compounded annual growth of 29.4 per cent, a report by Frost and Sullivan, a global growth consulting company said.
Non-Performing Assets are a wake-up call for public sector banks.
The mid-cap index fell while small-cap advanced.
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Mangalore-based Corporation Bank is considering merger of its housing finance arm Corporation Bank Homes with itself.
The recent three-bank merger seems to be grossly negative for Vijaya Bank and Bank of Baroda in the short term, as the negative net worth of Dena Bank will have to be absorbed by the merged entity
'It is human nature to get angry and annoyed when you are inconvenienced.' 'But we were able to enroll a few of our customers as 'bank mitras', who with my staff made sure that the queues were orderly and coupons were given to all the customers who wanted to withdraw or deposit money.'
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
Reserve Bank has lowered interest rates by 0.50 per cent since January 2015.
Wage revision in PSU banks is done every five years.
Punjab National Bank is believed to have clinched the deal for taking over the ailing Industrial Finance Corporation of India.
Finance Minister P Chidambaram will meet bankers on June 3 to review operations of banks, firm up next generation banking reforms and set targets for credit flow to sustain 7 per cent growth in economy.
The government on Thursday said it will encourage mergers of public sector banks to create strong entities, which can compete with other world-class banks.
As of December 2014, NPAs of PSU banks were at Rs 2,60,531 crore.
Public sector banks together may take a hit of about Rs 2,200 crore (Rs 22 billion) annually if Indian Banking Association succumbs to trade unions' pressure and agrees to hike salaries of staff by 11 per cent this fiscal.
Last year, the government had announced to infuse Rs 70,000 crore in PSU banks.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Days after the Parliament repealed the IDBI Act, Industrial Development Bank of India is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU bank may be considered later.
Valuation-wise, the markets look more attractive now
In a move that could provide succour to existing customers of troubled Global Trust Bank, its acquirer Oriental Bank of Commerce said on Monday that lending rates would eventually come down in line with the PSU bank.
Credit rating agency ICRA has said that mergers are one of the best options for growth of Indian banks but warned that it may not solve some "basic problems" of Indian banks plagued by inferior asset quality, poor management and lack of autonomy.\n\n\n\n
Indian Bank chairperson Ranjana Kumar, who turned around the ailing PSU bank last fiscal, is slated to take over as head of National Bank for Agriculture and Rural Development within a week.
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
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