Read more about Capitalisation worries for banks to get bigger: Financial stability report on Business Standard. The low valuations of state-run banks also make it difficult for them to tap the market
Read more about Benchmarks trade near day s high on Business Standard. At 11:20 IST, the barometer index, the S&P BSE Sensex, surged 401.17 points or 0.83% at 48,494.13. The Nifty 50 index rallied 131.2 points or 0.93% at 14,268.70.
The bank has issued Basel III-compliant Perpetual Debt Instruments in the nature of debentures eligible for inclusion in Additional Tier 1 Capital to the tune of Rs 1,000 crore, according to a regulatory filing.
Read more about Union Bank of India to raise Rs 1,000 cr via bonds on Business Standard. Union Bank of India on Thursday said it will raise Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis.
Uniform accountability code for PSU bankers coming soon
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Indian Banks’ Association (IBA) has formed a committee under Canara Bank executive director MV Rao to look into the nuances of staff accountability. The panel will recommend steps that will be adopted by the lenders.
Gross non-performing assets (NPA) at the aggregate level improved to 7.5% at the end of September this year, from 8.5% at end of March 2020 and from 11.5% at end of March 2018, but may rise again due to the pandemic-led disruptions.
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Public sector banks may follow a uniform practice on employee accountability for bad loans and other risk-oriented business calls to prevent potential witch-hunts in the guise of probing lapses.