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Public Sector Banks

Public Sector Banks report strong growth with 11% YoY increase in H1 FY 2024-25

Public Sector Banks report strong growth with 11% YoY increase in H1 FY 2024-25

Tue, Nov 12, 2024

Public Sector Banks report strong 11% growth in H1 FY25, driven by banking reforms and digital advances, with improved profits, reduced NPAs, and enhanced customer service, showcasing resilient financial performance.

Strong money will be made in government banks?

Strong money will be made in government banks?

Mon, Sep 23, 2024

Which PSU stocks are buying opportunities? Strong money will be made in government banks?

Exclusive: DFS Unveils Plan for PSU Banks to Fulfill MPS Requirements | QIP Route Considered First

Exclusive: DFS Unveils Plan for PSU Banks to Fulfill MPS Requirements | QIP Route Considered First

Fri, May 03, 2024

EXCLUSIVE news related to PSU Banks - DFS's plan ready to fulfill MPS rules in PSU banks - DFS told that banks were asked to first consider the QIP route.

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Public sector banks' dividend payout may exceed Rs 15,000 crore in FY24

Public sector banks' dividend payout may exceed Rs 15,000 crore in FY24

Sun, Mar 24, 2024

In the first three quarters of the current financial year, all 12 PSBs earned a total profit of Rs 98,000 crore, only Rs 7,000 crore less than the entire FY23. PSBs earned the highest-ever aggregate net profit of Rs 1.05 lakh crore during FY23 compared to Rs 66,539.98 crore earned in 2021-22.

PSBs' valuations still reasonable despite 162% jump in Nifty PSU Bank index in less than 2 years: Report

PSBs' valuations still reasonable despite 162% jump in Nifty PSU Bank index in less than 2 years: Report

Tue, Feb 27, 2024

Considering PSBs’ valuation history, their trading multiples may look constrained now; however, the quality of earnings, growth outlook, and broader re-rating in public sector enterprises (PSEs) will enable steady performance for the sector, the brokerage added.

FM Sitharaman to review with Public Sector Bankers' financial performance on 30th december

FM Sitharaman to review with Public Sector Bankers' financial performance on 30th december

Tue, Dec 26, 2023

FM's meeting with public sector bankers on 30th December, what will be the important issues of this meeting...? Know complete details in this video.....

Public sector banks get Rs 15,183 crore following ED action under PMLA: FM Sitharaman

Public sector banks get Rs 15,183 crore following ED action under PMLA: FM Sitharaman

Tue, Dec 05, 2023

Sitharaman informed the House that as of March 31, 2023, legal suits were filed for recovery against 13,978 loan accounts, action under the SARFAESI Act has been initiated in 11,483 cases, FIRs have been filed in 5,674 cases, and an aggregate amount of Rs 33,801 crore has been recovered.

Recent correction may have prepared three PSU bank stocks for a rebound

Recent correction may have prepared three PSU bank stocks for a rebound

Tue, Nov 14, 2023

The PSU banking space has bucked an overall weak trend in the market so far in Samvat 2080, the New Year as per the Vikrami calendar that began with a special, one-hour trading session on the day of Diwali.

Committee of Directors gives nod to raise equity capital upto Rs 4,000 crore: Indian Bank

Committee of Directors gives nod to raise equity capital upto Rs 4,000 crore: Indian Bank

Wed, Aug 30, 2023

Public sector Indian Bank on Wednesday said the Committee of Directors accorded approval for raising equity capital of the bank aggregating to Rs 4,000 crore.

Finance Ministry to meet heads of banks on February 22; to review progress ECLGS for MSMEs

Finance Ministry to meet heads of banks on February 22; to review progress ECLGS for MSMEs

Sun, Feb 19, 2023

The meeting between Finance Ministry and banks' heads is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee Scheme for COVID-Affected Sectors (LGSCAS), sources said.

Q3 earnings review: Public sector banks' profit jumps 65% – here’s how SBI, Bank of Maharashtra and others performed

Q3 earnings review: Public sector banks' profit jumps 65% – here’s how SBI, Bank of Maharashtra and others performed

Sun, Feb 12, 2023

Bank of Maharashtra recorded a 139 per cent jump in profit to Rs 775 crore at the end of December 2022, according to quarterly results declared.

PSU Bank stocks firm in otherwise weak market; Morgan Stanley bullish on sector – Check target price of BoB, BoI, PNB, Canara Bank

PSU Bank stocks firm in otherwise weak market; Morgan Stanley bullish on sector – Check target price of BoB, BoI, PNB, Canara Bank

Tue, Dec 06, 2022

The Nifty PSU Bank index hit a new high of 4,277.75 intraday trade, up 3 per cent. At around 02:45 PM, the index was up over 1 per cent to 4,201.55 as compared to a 0.50 per cent fall in the Nifty 50 index.

Many public sector banks saddled with weak assets, high credit costs: S&P Global Ratings

Many public sector banks saddled with weak assets, high credit costs: S&P Global Ratings

Sat, Nov 19, 2022

While the government-owned State Bank of India (SBI) and leading private banks have addressed their asset quality challenges, the same cannot be said about many other Indian public sector banks (PSB), said S&P Global Ratings in its latest research report on the global banking scene.

Government To Launch Common Helpline To Hear Complaints Of Customers Of Public Sector Banks

Government To Launch Common Helpline To Hear Complaints Of Customers Of Public Sector Banks

Mon, Oct 31, 2022

A common helpline is being planned to hear the complaints of the customers of public sector banks. The Indian Banks Association started implementing the instructions of the government. Brajesh Kumar is telling the complete blueprint of what will happen.

Consolidation of public sector banks not impacted their outreach or inclusive banking efforts, says RBI Deputy Guv Rao

Consolidation of public sector banks not impacted their outreach or inclusive banking efforts, says RBI Deputy Guv Rao

Sat, Oct 22, 2022

The genesis of financial sector reforms in India could be attributed to the recommendations of the Committee on the Financial System chaired by M Narasimham in 1991.

Finance minister asks PSU banks to fill backlog vacancies, enhance coverage of SCs in all schemes

Finance minister asks PSU banks to fill backlog vacancies, enhance coverage of SCs in all schemes

Tue, Sep 27, 2022

Finance Minister Nirmala Sitharaman on Tuesday asked public sector banks (PSBs) to fill the backlog vacancies of Scheduled Castes (SCs) in time bound manner and enhance their coverage in all schemes.

PSU banks clear digital lending worth Rs 83,091 crore in FY 2021-22

PSU banks clear digital lending worth Rs 83,091 crore in FY 2021-22

Mon, Sep 19, 2022

Bank of Baroda received the first prize among all PSBs for the best overall performance on PSB Reforms EASE Agenda 4.0. State Bank of India and Canara Bank were ranked second and third respectively.

Bank Privatisation: RBI clarifies stand on article recommending gradual approach to privatisation

Bank Privatisation: RBI clarifies stand on article recommending gradual approach to privatisation

Fri, Aug 19, 2022

“As clearly stated in the article itself, the views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India,” an RBI release said

Editors Take: Anil Singhvi Bullish On Banks? Check Out The Analysis Of June Quarter Results

Editors Take: Anil Singhvi Bullish On Banks? Check Out The Analysis Of June Quarter Results

Fri, Jul 29, 2022

What will happen in Dr Reddy today after the bad results? What to do in SBI Life and TVS Motor? Why is Anil Singhvi bullish on public sector banks? Check out the analysis of June quarter results.

Why RBI does not allow public sector bank chiefs to serve till 70 years, wonders former SBI chairman Arundhati Bhattacharya

Why RBI does not allow public sector bank chiefs to serve till 70 years, wonders former SBI chairman Arundhati Bhattacharya

Fri, Jul 22, 2022

Former SBI chairman Bhattacharya clarified that she is all for having reviews and ensuring that people who need to be changed should be changed, but added that one should be given an opportunity with the objective of continuity in mind

Finance Ministry asks public sector banks to explore fintech partnership and co-lending opportunities to expand business

Finance Ministry asks public sector banks to explore fintech partnership and co-lending opportunities to expand business

Sun, Jun 26, 2022

In the recently concluded performance review of PSBs by the Finance Ministry, sources said, lenders were asked to focus on technology and data analytics to push their lending.

Bank privatisation may gather pace as government plans to pass Banking Law Amendment Bill in upcoming Monsoon Session: Sources

Bank privatisation may gather pace as government plans to pass Banking Law Amendment Bill in upcoming Monsoon Session: Sources

Wed, Jun 22, 2022

Zee Business Exclusive: Privatisation of Public Sector process may get a fillip as the government may take up the Banking Law Amendment Bill during the upcoming Monsoon Session of the Parliament. Zee Business' Tarun Sharma reports

FM Nirmala Sitharaman to meet heads of PSBs on June 20; may nudge them for loan growth

FM Nirmala Sitharaman to meet heads of PSBs on June 20; may nudge them for loan growth

Fri, Jun 17, 2022

Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on Monday to review performance of the lenders and progress made by them on various schemes launched by the government for revival of the economy.

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