Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
Each employee is generating more business than before -- driven by cost rationalisation, digital adoption, and better resource utilisation -- signalling a stronger foundation for sustainable growth and profitability.
The pace of loan growth among public sector banks (PSBs) has seen a surge in the financial year 2024-25, and this is an exception to the overall moderation in bank credit during FY25. PSU banks' share in incremental credit rose to 57.3 per cent in March from 51.7 per cent a year ago, according to the Reserve Bank of India's (RBI's) Monetary Policy Report (April 2025).
Private banks' net profit grew 26.3 per cent year-on-year (Y-o-Y) to Rs 48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income. The gross non-performing assets (GNPAs) increased with the end of dispensation granted during the pandemic, according to the data compiled by BS Research Bureau for listed 18 private banks.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.
'You cannot have only one product or one market or one customer segment.'
Public-sector banks (PSBs) in Q3FY23 wrote off bad loans worth Rs 29,000 crore, up from Rs 23,000 crore in the same quarter a year ago, as part of a clean-up exercise. According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,000 crore in April-December 2021. Sanjay Agarwal, senior director, CARE Ratings, said a lot of it was driven by regulations, and assets that had 100 per cent provision coverage were written off.
Nearly eight months after the government repealed the three controversial farm Acts, it has constituted a high-powered panel under the chairmanship of former agriculture secretary Sanjay Agarwal to make the minimum support price (MSP) mechanism more effective and transparent as promised by Prime Minister Narendra Modi in his televised address announcing the repeal. The names of three members from the Samyukta Kisan Morcha (SKM), the main grouping that spearheaded the year-long agitation at Delhi's borders, have been withheld, pending receipt by the government, stated a gazette notification. NITI Aayog member Ramesh Chand, Indian Institute of Management-Ahmedabad Professor Sukhpal Singh, Indian Farmers Fertiliser Cooperative chairman Dilip Sanghani, secretaries of the Departments of Agriculture, Indian Council of Agricultural Research, Food and Consumer Affairs, Cooperation and Textiles, along with representatives from the state governments of Karnataka, Andhra Pradesh, Sikkim, and Odisha will also form part of the panel.
People with healthy lifestyles can also be at risk of heart diseases.
Vipul Agarwal and Vivek Agarwal, the developers and partners in Alcon Landmarks, were arrested on Saturday after a portion of a 22-ft-high compound wall of a housing society collapsed on adjoining shanties of construction workers following incessant rainfall.
According to agency reports, Jet Airways has approached the ministry to acquire six of the vacant slots.
A section of the employees of the grounded Kingfisher Airlines on Thursday went on a hunger strike at the Kingfisher House in Mumbai, demanding immediate payment of salaries, which have been pending since last August.
The airline, which declared a partial lockout on Tuesday, has said it will start flying again from October 5.
Kingfisher chief executive officer Sanjay Agarwal met Director General of Civil Aviation Arun Mishra in New Delhi for 45 minutes to apprise him of the prevailing scenario facing the airline, but sources said he gave no information about any commitment by the airline's parent company, UB Group, on financing the revival plan.
Among the country's three listed airlines also, Kingfisher chief executive officer Sanjay Agarwal's pay package was the second highest in the last fiscal ended March 31, 2012, as per the remuneration details provided in their annual reports.
The airline has suspended all operations till Thursday.
Tomar said the government is committed to "peaceful talks with farmers' leaders and does not intend to hurt farmers' sentiments".
The Indian aviation industry, which accounts for 2 per cent of the global aviation industry, suffered losses of Rs 10,000 crore (Rs 100 billion) in 2008-09. The industry is, however, now looking up, feels SpiceJet chief executive officer Sanjay Agarwal.
Asif Lampwala, representing victim Reeda Shaikh's family, told media persons that notices have been sent to Jehangir and Ruby Hall hospitals as well as Dr Sanjay Agarwal against whom a complaint had been filed in the consumer court, alleging medical negligence leading to her death.
A written complaint seeking criminal prosecution of directors of two private hospitals -- Jehangir and Ruby Hall -- was filed today with police by the family of Reeda Shaikh, the first fatality of swine flu in India.
A constable had assaulted the couple over some issue, following which a mob of locals gathered around the Ramganj police station and indulged in arson, setting ablaze five vehicles, including an ambulance and a police jeep, and damaged 21 others.
For the moment, the family prefers to keep their faith in God, "We won't give up hope. We won't say no till the last minute," says the Jiwrijka firmly.
Sebi had to post the show cause notices on its website as the accused entities did not receive the notices sent to them earlier. The regulator has accused the entities of creating artificial volumes and manipulating the price of shares of Home Trade Ltd with a view to defrauding the banks and investors.
Property and goods worth crores of rupees have been destroyed by the fire.
The actor has been brought to Mumbai from Kolkata, where he was injured while shooting for a Mani Ratnam film.
Experts say improper records could lead to large-scale leakages and pilferage and benefits going to ineligible people.
The Uttar Pradesh government said prima facie no terror link had been established.
A 20-member delegation of leading industrialists, including Harsh Neotia, Sanjay Budhia, Sanjay Agarwal and Utsav Parekh, are also accompanying her on the trip.
Tax Guru Anil Rego answers your personal income tax queries.
The court to announce punishment against Lalu tomorrow at 2 pm via video conferencing.
These banks need to build a significant deposit base to start full-fledged banking.
RJD sources said that the party would appeal against the verdict.
The quantum of punishment will be announced on January 3, 2018.
Faced with a situation where the spouse's transferable job keeps taking the family to different locations, thus jeopardising their own careers, many women simply fall off their career track and resign themselves to relocation every time their husband gets transferred, says Sudha Menon.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
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