PSBs NPAs down to ₹7.9 trillion at the end of March 2019
5 years, 4 months ago

PSBs NPAs down to ₹7.9 trillion at the end of March 2019

Live Mint  

New Delhi: The performance of India’s public sector banks has improved with the improvement in asset quality helping in bringing the non performing assets to ₹7.9 trillion at the end of March 2019, said finance minister Nirmala Sitharaman on Friday. On last Friday, finance minister Nirmala Sitharaman also announced a slew of measures to stoke demand, including a rejig of its spending programme by front-loading it, addressing supply-side bottlenecks and easing bank credit rules, even as she promised to end “tax terrorism" that has left India Inc. jittery. Sitharman said that 14 of 18 public sector banks are in profit with four non banking financial companies for making the path clear for the Indian economy to reach the $5 trillion target. These successive press confernces by the finance minister is an acknowledgment by the government that the Indian economy has entered its worst phase since the 2008 global financial crisis and, hence, needs urgent attention.

India Indian End Trillion Npas  end  npas  public  minister  sector  psbs  trillion  sitharaman  financial  indian  79  2019  economy  finance

History of this topic

Vivek Kaul: The Union budget should focus on reviving private consumption
1 week, 1 day ago

Vivek Kaul: The Union budget should focus on reviving private consumption

Live Mint  

The Reserve Bank of India recently released figures for net household financial savings during 2023-24. Fifth, a clear impact of the income of the average Indian growing slower and liabilities growing faster has been a slowdown in private consumption growth. Further, the cash distribution schemes launched by different state governments will put greater pressure on the Union government to earn …

Indian Stock Market Faces Volatility in 2024, But Ends Strong
1 week, 1 day ago

Indian Stock Market Faces Volatility in 2024, But Ends Strong

Deccan Chronicle  

Mumbai:It was a rollercoaster ride for the Indian equity markets in 2024 with benchmark stock indices Sensex and Nifty making decent gains in the first half but losing in the second half of the year due to geopolitical tensions, FII outflows, change in the US government, lesser than anticipated rate cuts by the US Federal Reserve. The Sensex and Nifty …

NPAs at 12-year low, red flags in some areas, says RBI report
1 week, 2 days ago

NPAs at 12-year low, red flags in some areas, says RBI report

Hindustan Times  

Indian banks’ bad loans fell to their lowest level in 12 years, although early warning indicators suggest potential stress in some sectors, the Reserve Bank of India’s financial stability report stated on Monday. NPAs at 12-year low, red flags in some areas, says RBI report The gross non-performing assets ratio of scheduled commercial banks declined to 2.6% in September 2024, …

RBI expresses optimism about Indian economy, gross NPA at 12-year low, GDP to grow at 6.6 per cent
1 week, 3 days ago

RBI expresses optimism about Indian economy, gross NPA at 12-year low, GDP to grow at 6.6 per cent

India TV News  

The Reserve Bank of India on Monday said that the bank's asset quality improved further and their gross non-performing assets or bad loans ratio declined to a 12-year low of 2.6 per cent in September 2024. "Buoyed by falling slippages, higher write-offs and steady credit demand, the gross nonperforming assets ratio of 37 scheduled commercial banks fell to a multi-year …

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern
1 week, 6 days ago

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern

Live Mint  

New Delhi, Dec 27 Low NPAs and double-digit credit growth are expected to drive profits of public sector banks past the ₹1.5 lakh crore milestone in 2024-25. Public lenders recorded their highest-ever aggregate net profit of ₹1.41 lakh crore in 2023-24 on the back of significant improvement in asset quality, credit growth, healthy capital adequacy ratio and rising return on …

India’s Economy Is Likely to Grow by 6.5 per Cent in the Current and the Next Financial Year
2 weeks, 1 day ago

India’s Economy Is Likely to Grow by 6.5 per Cent in the Current and the Next Financial Year

Deccan Chronicle  

New Delhi: India's economy is likely to grow by 6.5 per cent in the current and the next financial year, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. The economy continued to be negative even in October 2024 at 8.4 per cent, implying that in the first seven …

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman
3 weeks, 1 day ago

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman

New Indian Express  

NEW DELHI: Finance Minister Nirmala Sitharaman has listed several major cases where the Directorate of Enforcement has from time to time attached properties of individuals and companies connected to economic offence cases. Replying to the debate on Supplementary Demands for Grants - First Batch for 2024-2025, the finance minister apprised the Lok Sabha Tuesday evening that the central enforcement agency …

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry
4 weeks ago

Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry

Live Mint  

The government said on Thursday that policy reforms in the financial sector have restored the health of the banking sector, with the gross non-performing asset ratio of public sector banks falling to 3.12% in September 2024 from a peak of 14.58% in March 2018 and 4.97% in March 2015. The marked improvement also saw PSBs record their highest-ever aggregate net …

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
4 weeks, 2 days ago

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports

Deccan Chronicle  

New Delhi: The gross non-performing assets of public sector banks stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, while gross NPAs as percentage of outstanding loan is 1.86 per cent in private sector banks, the government said on Tuesday. Informing to the Parliament, minister of state for finance Pankaj …

Banking reforms need to get a lot more ambitious for the economy’s sake
1 month ago

Banking reforms need to get a lot more ambitious for the economy’s sake

Live Mint  

The 19 amendments to banking laws that were passed by the Lok Sabha on Tuesday remove various niggles in extant provisions, straighten out some others and make life easier for bank customers, especially a tweak that allows four nominees per account. While more than 90% of India’s nearly 60 million MSMEs are micro sized and best served by specialized non-bank …

Banking revival in 2025: Why strong liability franchises stand to gain
1 month ago

Banking revival in 2025: Why strong liability franchises stand to gain

Live Mint  

Indian bank stocks are waiting for their moment in the sun. Read this | Private lenders see stress in credit cards, personal loans in Q2 Elevated deposit costs and sluggish base growth weighed heavily on net interest margins for both public and private banks. Public vs private banks Credit costs for private banks increased by 10 basis points sequentially, with …

India’s GDP growth shocker: Bad news can be good too
1 month ago

India’s GDP growth shocker: Bad news can be good too

Live Mint  

India’s growth in gross domestic product of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It’s the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. Given the …

Nifty PSU Bank index logs 7% gain in 4 sessions; Bank of India and 5 other constituents rise up to 10%
1 month, 1 week ago

Nifty PSU Bank index logs 7% gain in 4 sessions; Bank of India and 5 other constituents rise up to 10%

Live Mint  

Shares of Indian PSU lenders have made a strong recovery in recent sessions, reversing the weak performance seen in the first half of the current month. The win has sparked optimism that the central government will prioritise increasing capital expenditure to drive economic growth, especially as current spending lags behind FY2025 budget estimates. Reflecting this optimism, the Nifty PSU Bank …

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027
1 month, 3 weeks ago

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027

Deccan Chronicle  

New Delhi: S&P Global Ratings on Thursday projected the Indian economy to grow between 6.5-7 per cent annually in the three fiscal years till March 2027 as infrastructure spending and private consumption drive growth momentum. “Good economic growth prospects will continue to support banks' asset quality, while healthy corporate balance sheets, tighter underwriting standards and improved risk management practices will …

India at the Forefront of Digital Revolution: RBI’s Patra
1 month, 3 weeks ago

India at the Forefront of Digital Revolution: RBI’s Patra

Deccan Chronicle  

Mumbai: India is at the forefront of the digital revolution and financial technology is speeding up digital payments, the Reserve Bank of India Deputy Governor Michael Debabrata Patra said on Wednesday. Patra in his inaugural address at the DEPR Conference on 'Digital Technology, Productivity and Economic Growth in India' said that the country is uniquely positioned to unlock new growth …

PSB’s Record 26% Profit Growth in First Half FY25
1 month, 4 weeks ago

PSB’s Record 26% Profit Growth in First Half FY25

Deccan Chronicle  

New Delhi: The finance ministry on Tuesday said that public sector banks have shown robust performance in the first half of the current fiscal year with a 26 per cent growth in net profit, increase in business and decline in non-performing assets. During the first six months of FY25, the finance ministry also said that the credit and deposit portfolio …

Public sector banks grew 11% in first half of FY25, finance ministry data shows
1 month, 4 weeks ago

Public sector banks grew 11% in first half of FY25, finance ministry data shows

Live Mint  

Public-sector banks have maintained their strong performance, reporting 11% on-year growth in aggregate business at ₹236.04 trillion in the first half of FY25, the finance ministry said in a statement on Tuesday. 133.75 trillion, respectively, in the first half of the financial year, the ministry said. Banking reforms The finance ministry attributed the improved performance to banking reforms such as …

Government may ease quarterly capex limits to achieve record ₹11.11 trillion spending goal for FY25: Report
1 month, 4 weeks ago

Government may ease quarterly capex limits to achieve record ₹11.11 trillion spending goal for FY25: Report

Live Mint  

India is considering the relaxation of quarterly spending limits to ensure it does not fall short of its capital expenditure target for the financial year 2024/2025, according to a government source. Capital expenditure, or spending on building physical infrastructure, was at 4.15 trillion rupees during April-September, or 37% of the annual target, against 4.9 trillion rupees a year earlier. The …

SBI net profit zooms 28% on better asset quality, credit growth
2 months ago

SBI net profit zooms 28% on better asset quality, credit growth

New Indian Express  

MUMBAI: The State Bank of India has reported a 28 percent on-year growth in net profit at Rs 18,331 crore for the quarter to September driven by improved asset quality and higher credit sales. The new chairman CS Setty, who assumed office only last month, said that in the reporting quarter, the bank earned an interest income of Rs 1.14 …

Canara Bank Reports 11.31% Net Profit Growth in Q2 FY25
2 months, 1 week ago

Canara Bank Reports 11.31% Net Profit Growth in Q2 FY25

The Hindu  

Canara Bank reports a strong Q2 performance with a 11.31% increase in net profit to ₹4,014 crore. The bank's net interest income also saw a significant rise, reaching ₹9,315 crore, compared to ₹8,903 crore in the corresponding quarter last year. The bank's NPAs have been reduced significantly, with the MSME sector NPA ratio dropping to 7.1% in Q2, down from …

Government to Focus on Professionalism, Professionalism of PSUs for Value Creation
2 months, 1 week ago

Government to Focus on Professionalism, Professionalism of PSUs for Value Creation

Live Mint  

The Indian government plans to make public sector units (PSUs) more efficient, professional and profitable in the long term rather than sell them early. The focus is on getting them more professionally run, so that their decisions be more board-driven, across sectors, irrespective of whether it is in the strategic or the non-strategic.

India’s current account deficit in Q1 FY25 widens to $9.7 billion
3 months, 1 week ago

India’s current account deficit in Q1 FY25 widens to $9.7 billion

The Hindu  

India’s current account deficit widened marginally to $ 9.7 billion in Q1:2024-25 from $8.9 billion in Q1:2023-24 and against a surplus of $4.6 billion in Q4:2023-24, according to dada released by the Reserve Bank of India on Monday. The current account surplus for Q4:2023-24 was revised downwards to $4.6 billion from US$ 5.7 billion earlier due to an upward adjustment …

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman
3 months, 2 weeks ago

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman

The Hindu  

Setty has said the bank has already got ₹4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure …

India's GDP grows by 6.7 percent in Q1: Govt report
4 months, 1 week ago

India's GDP grows by 6.7 percent in Q1: Govt report

Hindustan Times  

India's gross domestic product slowed to a five-quarter low of 6.7 per cent in April-June this fiscal against 8.2 per cent in the year-ago period, mainly due to poor showing by the farm sector, according to government data. India's GDP grows by 6.7 percent in Q1: Govt report India remains the fastest-growing major economy, as China's GDP growth in the …

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters
4 months, 1 week ago

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters

Hindustan Times  

India's Gross Domestic Product moderated to 6.7% during the first quarter of the financial year 2024-25, compared to the 8.2% growth seen in the same quarter of the previous year, according to the data released by the Ministry of Statistics and Programme Implementation on Friday, August 30, 2024. India's GDP moderates to 6.7% in Q1 2024-25 {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} …

FM Asks PSBs to Focus on Core Business, Deposits
4 months, 2 weeks ago

FM Asks PSBs to Focus on Core Business, Deposits

Deccan Chronicle  

New Delhi: Union finance minister Nirmala Sitharaman on Monday asked all the heads of public sector banks to focus on core banking business and speed up the pace of deposit growth by introducing innovative products. “The finance minister reviewed the financial performance of banks and progress made in the implementation of various flagship schemes of the government, including PM Awas …

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved
5 months ago

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved

Hindustan Times  

State Bank of India Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, August 3, 2024 and its board has also approved a ₹25,000 crore fundraising through bonds. SBI recorded a net profit of ₹19,680.80 crore in Q1 2024-25, an increase of 5.04% or ₹944.85 crore, compared to ₹18,735.95 crore during Q1 2023-24 or the …

India Ratings jacks up growth forecast to 7.5% this fiscal
5 months, 1 week ago

India Ratings jacks up growth forecast to 7.5% this fiscal

New Indian Express  

Citing the ongoing growth momentum led by government capex, deleveraged balance sheets of corporate robust quality banks’ assets, and a likely revival in private corporate capex, India Ratings has upped its growth forecast for the current fiscal to 7.5 percent—the highest among all analysts and 30 bps over the Reserve Bank estimate. Pegging higher growth at 7.5 percent for this …

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore
5 months, 1 week ago

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore

The Hindu  

ICICI Bank Ltd. reported Q1 FY25 net profit grew 14.6% year-on-year to ₹11,059 crorebeating estimates led by treasury gains and other income. Net interest income of the private sector bank for June quarter rose 7.3% YoY to ₹19,553 crore, the bank said in a filing. “We are comfortable with the asset quality andour strategy is to grow in a risk …

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore
5 months, 2 weeks ago

Federal Bank Q1 net profit grows 18.25% to ₹1,010 crore

The Hindu  

Federal Bank Ltd. reported Q1 FY25 net profit rose 18.3% year-on-year to ₹1,009.53 crore. Net advances rose to ₹2,20,806.41 crore, from ₹1,83,487.41 crore in the year-earlier period. Gross NPA at the end of Q1 FY25 was ₹4738.35 crore, which as a percentage to Gross Advances was 2.11%, while net NPA and as a percentage to net advances was ₹1330.44 crore …

Federal Bank logs record high net income at Rs 1,010 crore, to raise Rs 6,000 crore
5 months, 2 weeks ago

Federal Bank logs record high net income at Rs 1,010 crore, to raise Rs 6,000 crore

New Indian Express  

MUMBAI: The Kochi-based old generation private sector lender Federal Bank has reported the highest-ever quarterly net income at Rs 1,010 crore for the June quarter, logging in an 18.25 percent annualised growth, boosted by all-round performance in terms of asset generation as well as maintaining asset quality. The lender, which is getting a new chief executive in Krishnan Venkat Subramanian …

HDFC Bank logs 35% increase in net profit
5 months, 2 weeks ago

HDFC Bank logs 35% increase in net profit

New Indian Express  

NEW DELHI: Returning to its once famed over 30% net income for as many as 34 quarters on the trot which ended with the pandemic era, the second-largest lender logged in a robust 35.33% jump in net profit at Rs 16,174.75 crore for the June quarter even though the numbers are not comparable since the merger with its parent took …

Bank lending to NBFCs jump 26% to Rs 15.6 trillion
5 months, 4 weeks ago

Bank lending to NBFCs jump 26% to Rs 15.6 trillion

New Indian Express  

MUMBAI: Despite the Reserve Bank of India massively hiking the risk capital weighting on banks’ exposure to non-banks last November, the same has been rising unabated clipping at 26 per cent in May 2024, to go past Rs 15.6 trillion. In May 2024, mutual funds debt exposure to NBFCs rose to 13.3 per cent of banks advances to NBFCs, which …

RBI Reports Home Loan Outstanding Growth Of Rs 3.4 Lakh Crore Over 12 Months
6 months, 1 week ago

RBI Reports Home Loan Outstanding Growth Of Rs 3.4 Lakh Crore Over 12 Months

ABP News  

Housing loan outstanding expanded faster in May 2024 than in the previous year, while growth in the personal loan segment slowed compared to the previous year. According to Reserve Bank of India data, credit growth for housing loans, the most significant component of personal loans, accelerated by 16.9 per cent to reach Rs 23.49 lakh crore, up from Rs 20.09 …

Banks should improve corporate loans, keep deposit base healthy
7 months, 2 weeks ago

Banks should improve corporate loans, keep deposit base healthy

New Indian Express  

For the first time ever, the cumulative net profits of Indian banks surpassed Rs 3 lakh crore in 2023-24, up from Rs 2.3 lakh crore in 2022-23. While the 26 private lenders’ net profits shot up 42 percent to Rs 1.78 lakh crore, the 12 public sector banks reported net profits of Rs 1.41 lakh crore in 2023-24, a 34 …

Real GDP growth may hit 8% this fiscal year, signals FinMin
9 months, 2 weeks ago

Real GDP growth may hit 8% this fiscal year, signals FinMin

The Hindu  

India’s economy may well end up growing by about 8% this fiscal, outstripping the 7.6% real GDP growth projected by the National Statistical Office, the Finance Ministry signalled on Friday, citing the continuing momentum in economic activity in the ongoing final quarter of 2023-24. Despite risks such as “hardening crude oil prices” and “global supply chain bottlenecks to trade”, the …

RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable
11 months ago

RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable

The Hindu  

“With India’s current account deficit declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. Moreover, with around 10.2% share in world telecommunications, computer and information services exports, India is a …

RBI pegs FY'25 GDP growth at 7% on improved consumption demand, private capex spends
11 months ago

RBI pegs FY'25 GDP growth at 7% on improved consumption demand, private capex spends

The Hindu  

The Reserve Bank of India on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. In its Monetary Policy Statement, 2023-24, RBI Governor Shaktikanta Das said the recovery in rabi sowing, sustained profitability in manufacturing and underlying resilience of services should support economic activity …

Vantage | What India must do to be a $7 trillion economy by 2030
11 months, 1 week ago

Vantage | What India must do to be a $7 trillion economy by 2030

Firstpost  

As the Indian government gears up to present the annual budget in what is considered the last one ahead of the general election, the focus is on maintaining stability with an interim budget. In the next three years, India aims to secure its position as the world’s third-largest economy, targeting a GDP of $5 trillion dollars. Projections for India’s growth …

Budget 2024: Can India become a $7 trillion economy by 2030?
11 months, 1 week ago

Budget 2024: Can India become a $7 trillion economy by 2030?

India Today  

A recent review report released by the government has estimated India's potential economic trajectory, aiming to hit the $7 trillion mark by 2030, ahead of the upcoming Interim Budget 2024-25. "India's unwavering commitment to ensuring steady economic growth is generating resources for investment needed for climate change adaptation, building resilience, and mitigating emissions,' the Finance Ministry report said. The report …

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year
11 months, 3 weeks ago

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year

Hindustan Times  

IndusInd Bank on Thursday reported a net profit of ₹2,298 crore for the third quarter ending December 31, a surge by 17.3 per cent from the previous year. IndusInd Bank on Thursday reported a net profit of ₹ 2,298 crore for the third quarter ending December 31 The lender beat the Q3 profit expectations, helped by strong loan growth, Reuters …

Small finance, payments banks growing sustainably: Experts at Mint BFSI Summit
11 months, 4 weeks ago

Small finance, payments banks growing sustainably: Experts at Mint BFSI Summit

Live Mint  

New Delhi: Small finance banks and payments banks, constituted under the differentiated banking license policy of the Reserve Bank of India, have seen sustainable growth throughout their existence, industry experts said at the Mint BFSI Summit and Awards 2024 on Thursday. That means they have touched the lives of 100 million Indians, or 7% of the population, in under seven …

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin
1 year, 1 month ago

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin

The Hindu  

Banks have written off ₹10.57 lakh crore during the last five financial years, of which ₹5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament on Tuesday. "As per RBI data, scheduled commercial banks have written off an aggregate loan amount of ₹10.57 lakh crore during the last five financial years," Minister of …

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 2 months ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

India's June quarter current account deficit narrows to 1.1 per cent: RBI
1 year, 3 months ago

India's June quarter current account deficit narrows to 1.1 per cent: RBI

Hindustan Times  

India's current account deficit narrowed to USD 9.2 billion or 1.1 per cent of GDP for the April-June period, the Reserve Bank said on Thursday. The net external commercial borrowings to India recorded an inflow of USD 5.6 billion in the quarter compared to an outflow of USD 2.9 billion a year ago, the RBI said The current account deficit, …

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options
1 year, 4 months ago

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options

The Hindu  

State governments that have ostensibly opted out of the National Pension System for their employees and have reverted to the Old Pension Scheme that guaranteed 50% of final salary as monthly pension, continue to remit due contributions to the NPS corpus. State government employees account for the largest chunk of the savings pool which crossed ₹10 lakh crore on August …

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’
1 year, 4 months ago

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’

Live Mint  

India’s financial market assets including equities, private markets, bond yields, are expected to benefit structurally from a favourable macroeconomic backdrop over the next few years. According to a report by Standard Chartered, India’s corporate profit cycle remains the strongest since the 2004-08 cycle as the benchmark Nifty index EPS grew at an average 20 per cent between FY21 and FY23 …

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report
1 year, 4 months ago

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report

Live Mint  

Punjab National Bank Housing Finance has resolved and fully recovered a corporate non-performing account of ₹784 crore on August 19. PNB Housing Finance Ltd on Monday reported an 47.8 per cent year-on-year rise in its consolidated net profit after tax for the fiscal's first quarter ended June to ₹347.32 crore. The housing finance company's consolidated total revenue from operations rose …

BoB Q1FY24 results: Net profit jumps 87.7% YoY, NPA dips over 40%
1 year, 5 months ago

BoB Q1FY24 results: Net profit jumps 87.7% YoY, NPA dips over 40%

Live Mint  

Bank of Baroda Q1 results 2023-24: State-owned bank, Bank of Baroda has declared its Q1FY24 results today. Sharing its first quarter results for the current financial year, the PSU bank reported 87.72 per cent YoY jump in net profit during April to June 2023 quarter. Bank of Baroda Q1FY24 net profit In Q1FY24, the PSU bank reported a net profit …

Canara Bank was top lender to public sector cos in FY23
1 year, 5 months ago

Canara Bank was top lender to public sector cos in FY23

Live Mint  

Public Sector Banks lent ₹4.12 trillion to state-backed corporations and public sector undertakings during 2022-23, down from ₹4.93 trillion during the previous year, finance minister Nirmala Sitharaman informed Parliament in a written response on Monday. Responding to questions by member of parliament, Velusamy P, Sitharaman informed the Lok Sabha that Canara Bank led the lending during 2022-23 to government backed …

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