Days after the Parliament repealed the IDBI Act, Industrial Development Bank of India is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU bank may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.
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.
'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.'
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.
As of December 2014, NPAs of PSU banks were at Rs 2,60,531 crore.
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.
Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
Taking advantage of the robust financial health of public-sector banks, the government has asked them to pay interim dividends, as part of efforts to contain fiscal deficit within 5.6 per cent of the GDP.
Valuation-wise, the markets look more attractive now
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
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
Following the footsteps of its peers, the Kolkata-based UCO Bank has priced its Rs 240 crore initial public offer at an attractive Rs 12 a share to woo retail investors.
Last year, the government had announced to infuse Rs 70,000 crore in PSU banks.
The government on Wednesday pulled up some of the PSU banks for not meeting the agriculture loan targets, but praised for a hefty 37 per cent rise in the operating profits aggregating at over Rs 21,000 crore (Rs 210 billion).
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
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.
Not all change is good, but this one is, applauds Shekhar Gupta.
Customers using e-commerce websites are young and techno-savvy.
He advised banks to facilitate appropriate credit expansion.
The conciliation talks between UFBU and Indian Banks Association held in Mumbai moved a step ahead positively after the IBA offered a 9.5 per cent hike on pay slip cost and hold another round of talks on January 27, UFBU national Convenor M V Murali told PTI in Tirupati over phone.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
Twitter is a great medium for political leaders to communicate with their supporters and engage with their opponents. Provided the tweets are coherent and sensible. So why is the Delhi chief minister tweeting illogical stuff about the PM, asks Sudhir Bisht.
'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.'
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
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.
'The effect will be seen two-three quarters down the line.'
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Cyber crime wing has been receiving 4-5 complaints every day involving impersonation
His statement assumes significance in the light of scams in the state-owned banks.
Large moves in equity and in currency are expected during March settlement.
NPA problem to continue for next 2-3 quarters: banks to FinMin
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
Jaitley also asked banks to take steps to ensure smooth credit flow to projects.
The agency said that over the next two years new NPL formation rates would witness a gradual decline.
Nearly 700 of the 1,500 employees, who still claim to be on the payroll of the defunct airline, are women.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
