PSU banks end in red after RBI proposes tighter project finance rules; SBI, PNB, BoB fall up to 6%
RBI has significantly enhanced the provisioning requirement during the construction phase of a project to 5%.
RBI has significantly enhanced the provisioning requirement during the construction phase of a project to 5%.
Rising competitive intensity for both assets and liabilities amid growing regulatory scrutiny indicate a new chapter in Indian banking, says Rahul Jain, head of India equity research, Goldman Sachs
The central bank received 501.86 complaints per branch against Paytm Payments Bank between April 1, 2022, and March 31, 2023.
Jefferies' top PSU picks are SBI, Coal India and NTPC, while BSE PSU Index PE at 12.1 times is a 40% discount to Nifty 50
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
Markets oscillated in a narrow range on the budget day and settled marginally lower as investors resorted to profit booking at higher levels.
The Nifty PSU Bank hit a fresh all-time high of 6,438.10 points today, with all 12 constituents flashing in the green zone.
The bankex index dropped over 4%, with index heavyweights HDFC Bank, Kotak Mahindra Bank, Axis Bank falling between 3-8%.
Despite the reduction in non-performing loans and the creation of a 'bad bank', resolution procedures remain slow, says OECD
The market capitalisation of Bank of Baroda touched ₹100,400 crore after its stock price rose 3.6% to hit an intraday high of ₹194.85 on the BSE.