Psu Bank News
Indian Overseas Bank Q3 Results: Net profit jumps 21% YoY to ₹873 crore; NII improves 16% to ₹2,789 crore
Indian Overseas Bank reported a standalone net profit of ₹873 crore for Q3FY25, a 21% YoY increase. The bank’s net interest income rose to ₹2,789 crore, and gross NPAs improved to 2.55%. Shares jumped 6% after the earnings announcement.
2 min read20 Jan 2025Nifty PSU Bank tumbles over 4% to 6-week low amid weak Q3 business updates; Union Bank of India top laggard
Indian PSU banking stocks fell sharply on January 6 after disappointing December quarter updates, with all 12 Nifty PSU Bank index stocks in the red. Union Bank led the losses, dropping 8%, while the index itself saw a 4.30% decline, marking a 7-week low.
2 min read6 Jan 2025BAANKNET, a revamped e-auction portal for properties with public sector banks launched by DFS secretary M Nagaraju
The e-auction portal ‘Baanknet’, launched by DFS Secretary M Nagaraju, consolidates information on e-auction properties from all PSBs.
2 min read3 Jan 2025PSU bank stocks extend dominance over private lenders in 2024, record 4 consecutive years of gains
The Nifty PSU Bank index concluded the year with a gain of 14.48%. Among the top performers, State Bank of India (SBI) led with a gain of 23%, followed by Indian Bank with a return of 24%
3 min read3 Jan 2025Headcount at state-owned banks slumps to lowest in 13 years, shows RBI data
Between FY17 and FY24, public sector banks lost more than 100,000 employees even as staff across the country’s banking sector increased by nearly half a million, the RBI showed.
3 min read29 Dec 2024Gross bad assets of government banks fell from 14.58% in Mar 2018 to 3.12% in Sep 2024: Finance ministry
The marked improvement also saw public-sector banks record their highest-ever aggregate net profit of ₹1.41 trillion in FY24 against ₹1.05 trillion in FY23, the finance ministry said.
3 min read12 Dec 2024Nifty PSU Bank index logs 7% gain in 4 sessions; Bank of India and 5 other constituents rise up to 10%
The recent recovery in Indian PSU lenders, driven by the BJP’s win in Maharashtra, has led to a 7.35% rise in the Nifty PSU Bank Index. Analysts expect increased capital expenditure and new banking products to bolster credit growth and improve the business environment for state-run banks.
2 min read27 Nov 2024Central Bank of India to Punjab & Sind Bank: Experts recommend these PSU bank shares to buy on OFS buzz
The central government is considering selling minority stakes in these four state-run banks to comply with public shareholding norms mandated by the capital markets regulator SEBI, Reuters reported.
1 min read19 Nov 2024Public sector banks grew 11% in first half of FY25, finance ministry data shows
The improved operational performance of PSBs was supported by lower levels of bad assets, the ministry said.
1 min read12 Nov 2024PSU banks are giving the best FD rates in eight years. Here’s why
In September, the weighted average domestic term deposit rate for public sector banks (PSBs) touched 7%, the first time since March 2017
4 min read6 Nov 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared