State-run banks to introduce 'green cells' for ESG risk assessment and green fund management under EASE 7.0. RBI emphasizes 2.5% GDP green financing. SBI chairman pushes for incentives and CRR relaxation in regulatory policies.
As per latest data from the finance ministry, around 215,000 cases are pending before DRTs till January 2024, of which 162,000 are original applications (OAs) filed under Section 19 of Recovery of Debts and Bankruptcy Act (RDB Act), 1993. RBI data showed in FY23, around 58,000 cases with amounts totalling about ₹4.02 lakh crore were referred to DRTs.
This follows a decision by the Bombay High Court earlier this week that said public sector banks (PSBs) dont have the power to recommend, or ask, the central government for the issuance of LOCs against defaulting borrowers.
MUMBAI: Public sector banks had become judge and executioner at once in having look out circulars or LOCs issued against defaulters, said Bombay high .
Against this backdrop, the valuation where it is and also given the fact that the rural portfolio is still not really growing fast and because the rural India spend is still slow, against a combination of these factors I would stay away from the stock.
India News: MUMBAI: Public sector banks had become judge and executioner at once in having look out circulars or LOCs issued against defaulters, said Bombay high .
PSBs to get ₹15,000 crore via zero-coupon bonds in FY22 : Rashtra News #PSBs #crore #zerocoupon #bonds #FY22 The government will provide the budgeted ₹15,000 crore capital allocation for state-run banks this fiscal through non-interest-bearing zero-coupon bonds. This comes even as some banks had reached out to the government seeking clarity given that the Reserve
India Business News: Mumbai: The share of public sector banks in ATMs deployed in the country has shrunk as they consolidate their network and push digital services, while.
Private banks are gaining market share due to investor interest in their public sector rivals, pushing headline stock indices to new highs. This is due to PSBs' access to a larger base of depositors and tight liquidity, which has a bigger effect on private bank margins. The current trend of private banks gaining in valuation is aided by a broader revival of investor interest in India's public sector undertakings.