State-run Banks

Sensex Rises Over 100 Points, Nifty Tops 12,250: 10 Things To Know

Business | Edited by Sandeep Singh (with inputs from Reuters) | Monday December 30, 2019

Domestic stock markets started Monday's session on a positive note with benchmark indices approaching record levels, shrugging off weakness in Asian peers where equities receded from 18-month highs. The S&P BSE Sensex index rose as much as 139.59 points to touch 41,714.73 and the broader NSE Nifty benchmark climbed to as high as 12,285.90, up 40.1 ...

Government Says State-Run Banks Health Restored, 13 Banks Report Profit

Business | Indo-Asian News Service | Saturday December 28, 2019

Ministry noted that gross NPAs of the state-run banks have declined from Rs 8.96 lakh crore in March 2018 to Rs. 7.27 lakh crore in September 2019.

RBI Buying Dollars Via State-Run Banks: Traders

Business | Reuters | Friday December 13, 2019

Earlier in the session, the rupee touched 70.51, its strongest level since September 30.

Government Eases Lending Rules For Weak Shadow Banks

Business | Reuters | Wednesday December 11, 2019

The government said it would allow state-run banks to get partial guarantees against the purchase of BBB+ rated securities of these shadow banks.

Government's Loan Melas Seen As A Temporary Salve And A Long-Term Pain: Report

Business | Reuters | Thursday December 5, 2019

Reviving a practice not used in three decades, government in September ordered state-run banks to hold more than 400 loan "melas" across the country.

State-Run Banks Disburse Record Rs 4.9 Lakh Crore Loans During October-November

Business | Press Trust of India | Tuesday December 3, 2019

Under the direction of Finance Minister Nirmala Sitharaman, outreach camps or loan melas were conducted across 374 districts across the country to improve credit delivery and support the needs of the economy, with particular focus on MSMEs, NBFCs, corporates, retail and agriculture sector borrowers, without compromising prudential lending.

GDP Growth Data For September Quarter To Be Released Today: 10 Things To Know

Business | Edited by Sandeep Singh | Friday November 29, 2019

The government will at 5:30 pm today release data on GDP or gross domestic product for the second quarter of current financial year. Many economists expect India's GDP growth rate to decline further to below 5 per cent amid consumption slowdown and loss of thousands of jobs. Economic growth had come in at 5 per cent - the lowest rate of expansion r...

State-Run Banks Report Frauds Of More Of Rs 95,760 Crore In Six Months

Business | Reuters | Tuesday November 19, 2019

"Government has taken comprehensive measures to curb the incidence of fraud in banks," Finance Minister Nirmala Sitharaman, told Rajya Sabha.

RBI's Shaktikanta Das Calls For Tighter Governance at State-Run Banks

Business | Anirban Nag, Bloomberg | Monday November 18, 2019

India's banking sector has the highest ratio of stressed assets in the world, with many bad loans to companies in sectors such as energy and steel.

Supreme Court Allows ArcelorMittal To Complete Deal To Acquire Debt-Laden Essar Steel

Business | Reported by A Vaidyanathan, Edited by Sandeep Singh (with inputs from agencies) | Friday November 15, 2019

The Supreme Court on Friday cleared the way for steel giant ArcelorMittal to complete its purchase of debt-laden Essar Steel for Rs 42,000 crore, setting aside the National Company Law Appellate Tribunal (NCLAT)'s order giving equal status to financial and operational creditors. The order came as a huge win for lenders who had challenged the bankru...

Strike On October 22 May Impact Operations Of These Banks

Business | Edited By Anshul (With inputs from IANS) | Sunday October 20, 2019

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) have proposed an all-India strike on October 22 to protest against the announced consolidation of 10 state-run lenders into four.

Bank Employee Unions Call Strike To Protest Against Mergers: 10 Things To Know

Business | Edited by Anshul | Thursday October 17, 2019

Two trade unions of bank employees have proposed an all-India strike on October 22 to protest against the announced consolidation of 10 state-run lenders into four. "We can easily understand that mergers are a prelude to privatisation of banks and hence we need to vehemently oppose such moves," the Bank Employees Federation of India (BEFI) said in ...

Banks' "Worst" Time Under Manmohan Singh-Raghuram Rajan: Finance Minister

India News | Edited By Debanish Achom | Thursday October 17, 2019

Finance Minister Nirmala Sitharaman has turned the tables on her macroeconomics opponents by pointing at a massive amount of bad loans in state-run banks when the United Progressive Alliance (UPA) was in power. She held "the combination" of former Prime Minister Manmohan Singh and former Reserve Bank of India Governor Raghuram Rajan responsible for...

Sensex, Nifty Down Nearly 4% In Six-Day Fall: 10 Things To Know

Business | Sandeep Singh | Tuesday October 8, 2019

Domestic stock markets have corrected nearly four per cent in last six days, with the benchmark S&P BSE Sensex index retracting 1,457.76 points - marking their worst losing streak since July. The broader NSE Nifty benchmark has given up 444.8 points during this period, marking a decline of 3.84 per cent. Out of the 11 sectoral indices on the Nation...

Ahead Of Festival Season, Loan Melas In 250 Districts From Thursday

Business | Press Trust of India | Wednesday October 2, 2019

SBI is the lead banker in 48 districts across the country, whereas Bank of Baroda is the lead banker in 17 out of 250 districts in the first phase. This is part of the systematic bank reform process which envisioned taking banks to doorsteps of customers.