Page 2 - Psu Bank

PSU banks to open about 300 branches in unbanked areas by Dec 2022: Report

As part of the financial inclusion drive, public sector banks will open about 300 brick-and-mortar branches in the unbanked areas of various states by December 2022. These new branches will cover all remaining unbanked villages with a population of more than 3,000, according to sources. A Maximum number of 95 branches will be opened in Rajasthan followed by 54 in Madhya Pradesh. The public sector banks will open 38 branches in Gujarat, 33 in Maharashtra, 32 in Jharkhand and 31 in Uttar Pradesh. The progress with regard to the opening of branches in the rural areas was reviewed in the recent meeting of heads of public sector banks with the Financial Services Secretary last month. Banks have been asked to open branches at allocated locations by the respective State Level Bankers' Committee (SLBC) by December 2022, the sources said. Bank of Baroda will open 76 branches, while State Bank of India will establish 60 branches. Financial Inclusion is a national priority of the governmen

FM meets heads of PSU banks, asks them to ensure credit flow to KCC holders

Finance Minister Nirmala Sitharaman on Thursday urged public sector banks to ensure smooth flow of credit to Kisan Credit Card (KCC) holders to boost rural incomes. During the half-day long meeting with the CEOs of public sector banks, she also asked them to help Regional Rural Banks (RRBs) in technology improvement. After the meeting, Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala said the finance minister reviewed the Kisan Credit Card (KCC) scheme and discussed how institutional credit can be made available to the segment. "The meeting was presided over by the finance minister and the issuance of Kisan Credit Card to all those engaged in fishing and dairying sector was discussed. "In another session on Regional Rural Banks, it was decided that the sponsor bank should help them in digitalisation and technology improvement," Minister of State for Finance Bhagwat K Karad said. RRBs, which play an important role in agriculture credit, are sponsored by publi

Govt committed to privatisation of two public sector banks: Report

According to sources, Central Bank of India and Indian Overseas Bank are likely candidates for privatisation

Farm-loan waiver, tax cuts, fiscal prudence: Expectations from Budget 2022

With five state elections in the coming months - Uttar Pradesh and Punjab being the major ones - some populist measures are also not ruled out, analysts said.

ICICI Bank raises Rs 5,000 crore through 10-year bonds

Compared to private sector entities, public sector-owned firms are able to get 5-10 basis points finer rates

Stocks to Watch: RIL, ICICI Bank, PSBs, Tata Consumer, IEX, Yes Bank, Zee

State-run PSU banks are likely to be in focus today as government plans to shore up capital requirement in Q2; Focus will also be on other corporate results

SBI stock trades higher for third straight session, nears record high

The stock was up 1.4 per cent at Rs 471 on the BSE in Wednesday's intra-day trade, quoting close to its record high of Rs 471.85 touched on September 17, 2021

PSU banks mobilise record fund of Rs 58,700 crore from markets in FY'21

Notwithstanding economic disruptions caused by the pandemic, PSBs have managed to raise a record Rs 58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base.

Banks' NPAs decline to Rs 8.34 trillion at March-end 2021: Minister

Scheduled commercial banks were carrying NPAs worth Rs 8.96 trn on their balance sheet at the end of March 2020

PSU banks to follow template with three loan buckets for recast 2.0

Lenders come out with standardised products to help mitigate Covid crisis

Key factors that led to a market crash on Monday

The selling in the market was mostly broad-based, with only stocks from the information technology (IT) sector managing to hold their head above water

Govt unlikely to continue with zero-coupon bond route to recap PSU banks

To save interest burden and ease the fiscal pressure, the government last year decided to issue zero-coupon bonds for meeting the capital needs of the banks

Privatisation of PSU banks will compromise financial security: Cong MP

Congress MP Ravneet Singh on Tuesday said privatisation of public sector banks will compromise financial security

Amalgamation has led to all-round gains for merged entity: Indian Bank MD

In a Q&A, Padmaja Chundru says issues like equal stature of Allahabad Bank and Indian Bank and retirement of 10 GMs were addressed fairly with continuous communication with staff and customers

Public sector banks extend gain; PNB, Canara Bank up over 5%

PNB gained 15 per cent in the last week after the bank said ICRA Ratings has upgraded the ratings of Bonds issued by the Bank and reaffirmed the rating of Certificate of Deposits

To privatise or not? Key questions answered on shedding govt stake in PSB

There is a growing consensus in favour of the move, but strengthening governance and widening the ambit of acceptable investor groups are critical to its success

Budget 2020: Govt unlikely to announce capital infusion for PSU banks

Besides, sources said, banks may also look for divesting or selling their non-core business as part of fund raising exercise during 2020-21

Trading strategies for volatile banking space

The Nifty PSU Bank Index is much less tracked because it doesn't offer liquid F&O contracts

Small PSU banks rally; Dena Bank, UCO Bank up over 9%

Vijaya Bank, Allahabad Bank, IDBI Bank, IOB, United Bank and Syndicate Bank were up 5% and 7%.

Arun Jaitley to review performance of PSU banks

He will also review the performance of the lenders