New Delhi: The government is considering the divestment of 5-10% stake in public sector lenders in which it currently holds over 80% equity. A detailed roadmap is expected to be firmed up soon, said people with knowledge of the matter. Government ownership exceeds 80% in six state-run banks – Bank of India, Indian Overseas Bank, … Read more
State-owned lender experienced a spectacular upmove and doubled investors’ money in the last month. Shares of the PSU bank surged over 110% to Rs 32 in this period. In comparison, the Nifty50 has surged only about 2%, while Bank Nifty has risen nearly 5% during the same period. At 10.29 am, the scrip was trading … Read more
The government could hive off the non-performing loans of the two public sector banks that are to be selected for privatisation and transfer some of their employees to other state-run lenders in a bid to make them attractive for buyers. The government is likely to consider only banks that were not part of the recent … Read more
Kumar said closure of any enterprise, be it public or private, is against the interest of the common man and taxpayers. (File image) State Bank of India chairman Rajnish Kumar on Monday said ownership of the banks – whether they are in the private sector or government entities – does not matter, the primary concern … Read more
Despite the forbearance measures, under scenario 1, Moody’s expects newly formed NPLs to nearly double to about 3.7% of gross loans annually in the next two years from 1.7% in fiscal 2020, driven by the retail, SME and agriculture segments. Public sector banks (PSBs) may need up to Rs 3.4 lakh crore in external capital … Read more