PSU banks hit hard by bad loans; shares plummet up to 12%

Shares of state-run lenders plunged by up to 12.4 percent Wednesday as investor sentiment was hit by mounting bad loans and disappointing earnings reported by them.

27 PSU banks write off Rs 1.14 lakh cr bad debts during 2012-15

27 PSU banks write off Rs 1.14 lakh cr bad debts during 2012-15

A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53 percent rise in write-offs as part of the balance sheet clean-up.

Banks impaired asset ratio to rise to 12.5% by FY17: Ind-Ra

Stressed assets in the banking system is likely to rise to 12.5 percent by the next fiscal against an estimated 12 percent in the current financial year, India Ratings said today.

No rethink on Mar'17 deadline for banks on balance sheets: RBI

The restructured and bad assets combined together have gone over 13 percent.

New banks to complement existing banking system: Chanda Kochhar

New banks to complement existing banking system: Chanda Kochhar

Ruling out any competition to full-service banks from payments and small finance banks, top banker Chanda Kochhar has said they can actually complement the existing banking system and ICICI Bank will explore opportunities for mutually beneficial partnerships.

Banks enter 2016 with $60 billion red ink on books

Banks enter 2016 with $60 billion red ink on books

As a New Year begins, it's not a clean slate for the banks with balance sheets full of red ink due to huge bad loans worth about USD 60 billion and a serious clean-up job is a must in 2016 with the RBI having set a deadline.

 

Focus on mobile tech for last mile delivery: RBI panel to banks

Focus on mobile tech for last mile delivery: RBI panel to banks

In order to promote financial inclusion, a RBI panel on Monday asked banks to focus more on mobile technology for last mile service delivery, phasing out interest subsidy on farm loans and move towards universal insurance scheme for all crops.

 

Number of financial inclusion accounts touch 19.52 crore: RBI

Banks, mostly state-run ones, opened a whopping 19.52 crore accounts under the government's financial inclusion drive till the first week of December.

Allow mobile banking registration at ATMs: RBI to banks

Allow mobile banking registration at ATMs: RBI to banks

The Reserve Bank has asked all the National Financial Switch (NFS) member banks to make changes in ATM switches by March 2016 to help customers register for mobile banking services.

 

PSU banks register 1,624 FIRs against wilful defaulters

As many as 1,624 First Information Reports (FIRs) have been filed with regard to wilful defaults.

Chennai floods: Finmin asks banks to restore services at the earliest

Chennai floods: Finmin asks banks to restore services at the earliest

Finance Ministry has directed banks to restore services in flood affected areas as early as possible and asked them to ensure that no banking operation is affected on account of lost or damaged pass books.

CBI filed 6 cases against banks on money laundering since 2012

The CBI has registered six cases for irregularities and violation of Prevention of Money Laundering Act and forex scams in public and private sector banks since April 2012, Lok Sabha was informed Friday.

New guidelines to calculate base rate this week: Rajan

After goading banks, without much success, to pass on full benefits of policy rate cuts to borrowers, Governor Raghuram Rajan Tuesday said the Reserve Bank will this week issue guidelines to determine base rates on a new methodology based on the marginal cost of funds.

Bankers hint at lowering rates after Raghuram Rajan's push

Bankers hint at lowering rates after Raghuram Rajan's push

"As the impact of monetary policy measures taken so far plays out in terms of bank funding costs, lending rates are expected to continue to moderate," Chanda Kochhar, MD and chief executive of ICICI Bank, said in a statement.

Banks should fully pass on previous rate cuts: India Inc

With RBI Governor Raghuram Rajan keeping the repo rate unchanged on Tuesday, India Inc Tuesday called upon banks to fully transmit the rate cuts effected so far this year to revive weak rural demand and investments.

Payments banks no threat to current banking giants: Report

Payments banks no threat to current banking giants: Report

Payments banks have a very limited scope of services to offer customers and will particularly not have access to sticky low cost deposits which the traditional banks have along with capacity to lend.

Bank employee association defers December nationwide strike post talks

Bank employee association defers December nationwide strike post talks

All India Bank Employees Association (AIBEA) on Wednesday said it has deferred the proposed nationwide bank strike on December 1-2.

NPAs Of 37 Banks Record 26.8% Increase In Last One Year

In last one year 37 banks including public banks have shown an increase in NPAs by 26.8% due to halted Infrastructure projects.

'Banks need to invest more on tech for Basel III compliance'

'Banks need to invest more on tech for Basel III compliance'

In order to meet Basel-III norms by March 2019, banks in India will need to begin collecting relevant data points and upgrade their processes, which could run into several thousands, across the organisation.

BoB forex scam effect: IBA mulls exempting experts from general banking work

BoB forex scam effect: IBA mulls exempting experts from general banking work

In light of the Rs 6,100-crore Bank of Baroda (BoB) money remittance case, Indian Banks' Association (IBA) is considering a proposal to engage specialist officers only in their areas of core competencies rather than general banking business.