While public sector banks together are expected to pick up a 51 per cent stake in the national ARC, PNB’s shareholding will be less than 10 percentage points
According to banking sources, work is progressing on multiple fronts to ensure that the bad bank starts operations as soon as possible. On Wednesday, bankers met to finalise the capital structure of the bad bank (NARCL). Sources said that the company would need at least Rs 6,000-crore capital of equity and debt to start operations.
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Daljeet Singh Kohli, CIO, Stockaxis.com, says KPIT, Birlasoft and MindTree are his favourite stocks when it comes to the IT basket. Edited excerpts from an interview:
Is it time to relook at disinvestment candidates?
I think the move related to disinvestment has already been factored in most of the stocks, especially BPCL and
Concor. This has been going on for almost a year now; it took more time than what was expected.
From here onwards, the next move we have to watch out for will be the kind of valuations they command and do they really get what the market is expecting. In case of Concor, people are trying to compare it with Adani Ports. Those who have already entered in at lower levels last year or who have been waiting for patiently, it is time to partially book some profits and wait for some more gains. For fresh entry, we will have to wait for some more trigger points. So we are not suggesting any new buys on this stock.
How the second wave of Covid will play out is a challenge: BoM chief
May 14, 2021
AS Rajeev, MD and CEO, Bank of Maharashtra×
Bank of Maharashtra (BoM) could figure among the top three public sector banks (PSBs) in terms of efficiency parameters and asset quality if its current performance continues for the next couple of years, according to MD and CEO AS Rajeev.
The bank, which posted net profit for nine quarters on the trot up to the fourth quarter of FY21, has adequate capital to ensure a 20-22 per cent growth in RAM (retail, agriculture and MSME) advances and about 10-12 per cent growth in corporate advances in FY22, he said. In an interaction with
Bad bank chief: Government again taps SBI’s talent
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Bad bank chief: Government again taps SBI’s talent
TNN / Updated: May 12, 2021, 05:39 IST
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File picture used for representational purpose only
MUMBAI: The proposed ‘bad bank’, which will help public sector lenders clean up their loan books, has got its first senior executive Padmakumar Madhavan Nair. According to sources, Nair, who is chief general manager in charge of stressed assets in the country’s largest bank SBI, will be heading the National Asset Reconstruction Company (NARC).
The appointment comes even as there are indications that public sector banks (PSBs) have a large stressed portfolio. Punjab National Bank’s offer document for a qualified institutional placement shows that stressed loans are around 20%. “The two largest PSU banks after SBI have reported close to 20% overdue loans (not classified as non-performing). If this is the state with large PSU banks,