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Nine out of 21 public sector banks reported losses in FY17

Nine out of 21 public sector banks reported losses in FY17

Nine of the 21 public sector banks, including IDBI Bank and Indian Overseas Bank, reported losses during 2016-17, the parliament was informed on Tuesday.

Banks have no liability for loss of valuables in lockers: RBI

Banks have no liability for loss of valuables in lockers: RBI

Stung by the revelation, the lawyer who had sought information under the transparency law has now moved the Competition Commission of India (CCI) alleging "cartelisation" and "anti-competitive practices" by the banks in respect of the locker service.

SBI chief's salary zilch compared to counterparts in private banks

SBI chief's salary zilch compared to counterparts in private banks

In comparison, ICICI Bank MD and CEO Chanda Kochhar received a basic salary of Rs 2.66 crore last fiscal besides Rs 2.2 crore performance bonus. 

Bankers to meet from Monday to decide on large defaulters

Bankers to meet from Monday to decide on large defaulters

Bankers are meeting from Monday to finalise their next course of action on six of the 12 bad loan accounts for immediate referral to NCLT after the RBI named the largest defaulters to face bankruptcy proceedings.

PSU banks may need more than budgeted capital infusion: Mundra

PSU banks may need more than budgeted capital infusion: Mundra

RBI Deputy Governor S S Mundra has said public sector banks may require more than the budgeted Rs 10,000 crore capital infusion from the government in the current fiscal on account of higher provisioning for bad loans and haircut on stressed assets.

Banks may need additional Rs 10K crore infusion for bad loans: Mundra

RBI Deputy Governor S S Mundra on Friday said public sector banks may require more than Rs 10,000 crore capital infusion from the government than budgeted for the current fiscal on account of higher provisioning for bad loans and haircut on stressed assets.

RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans

RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans

The Reserve Bank of India (RBI) has identified 12 of the country`s biggest loan defaulters and said creditors must pursue bankruptcy proceedings against them, as it begins to cut the USD 150 billion in stressed debt hobbling Asia`s third-largest economy.

Banks need Rs 95K crore capital, stressed assets to rise: Moody's

Banks need Rs 95K crore capital, stressed assets to rise: Moody's

Stressed assets of Indian banks will increase through 2019 and capitalisation will remain a key credit weakness for state-owned lenders which will need up to Rs 95,000 crore additional capital over the next two years.

RBI refuses to disclose list of loan defaulters

RBI refuses to disclose list of loan defaulters

The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public.

Stake dilution in PSBs after their health improves: FM

This fiscal, the government has budgeted Rs 10,000 crore of capital infusion in public sector banks.

War on NPAs to speed up PSBs' capital raising via FPOs

War on NPAs to speed up PSBs' capital raising via FPOs

The government's all out war against NPAs will help in cleaning balancesheets of state- owned banks and expedite fund raising via markets to meet the global Basel III capital adequacy norms, an official said.

Govt appoints heads of 7 PSU banks; MDs of PNB, BoI shifted

Govt appoints heads of 7 PSU banks; MDs of PNB, BoI shifted

PNB MD Usha Ananthasubramanian has been shifted to relatively small Kolkata-based Allahabad Bank while head of Bank of India Melwyn Rego will move to Syndicate Bank with immediate effect.

India to clock 7.1% GDP this year, 7.5% in 2018: UN report

India to clock 7.1% GDP this year, 7.5% in 2018: UN report

Inflation is projected to reach 5.3-5.5 percent in 2017 and 2018, which is somewhat above the official target of 4.5-5 percent.

Govt keen to push ahead with more PSB consolidation

Govt keen to push ahead with more PSB consolidation

Fresh from the successful merger of five associates with SBI, the government is looking to consolidate more public banks going forward, with an aim to create only a few lenders of global size and scale.

RBI governor suggests merging public sector banks

RBI governor suggests merging public sector banks

Reserve Bank Governor Urjit Patel says that merging public sector banks and having fewer of them would be better for the sector and also help deal with problem of non-performing assets (NPA).

RBI's PCA norm for greater regulatory action on banks: Fitch

The RBI has tightened the thresholds -- for capital ratios, NPLs, profitability and leverage - at which banks enter the PCA framework.

Govt asks PSBs to finalise next wage revision before Nov 1

Govt asks PSBs to finalise next wage revision before Nov 1

The finance ministry has asked the heads of public sector banks to finalise the modalities for timely implementation of the next pay revision from November.

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Concerned over high level of bad loans in the banking system, a parliamentary panel has asked PSU banks to devise a mechanism to detect stressed assets early so that urgent corrective steps can be taken.

Govt approves second tranche of capital infusion in PSU banks

Govt approves second tranche of capital infusion in PSU banks

The government has approved the second tranche of capital infusion in public sector banks to enhance their capital base.

NPA formation showing declining trend in March quarter: FM Jaitley

NPA formation showing declining trend in March quarter: FM Jaitley

The rate of rise in bank's non- performing assets has slowed down in the March quarter and the steel sector has started showing signs of improvement, Finance Minister Arun Jaitley said on Wednesday.