
OECD urges India to cut stake in banks, insurance firms
Despite the reduction in non-performing loans and the creation of a 'bad bank', resolution procedures remain slow, says OECD
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.
The rally in PSU Bank index was led by index heavyweights such as Union Bank of India, State Bank of India, Bank of Baroda, Punjab National Bank, which rose up to 7%.
Domestic banks may become the main source of funding for the group, resulting in increases in banks' exposures to Adani, says Moody's.
The upgrade reflects an improvement in India's macro profile to "Moderate+" from "Moderate", says Moody's.
Bank of Baroda, Bank of India, and Punjab & Sind Bank hit their respective 52-week highs after Morgan Stanley expressed optimism about public sector banks.
An important aspect that is often ignored by researchers proposing privatisation is the role played by PSBs in financial inclusion, says RBI.
Public sector banks have exposure of ₹58,524 crore to stressed enterprises.
In India, financial services are still plagued with multiple challenges. A resurgent India needs greater innovation in banking, especially in customer management and retention.
The increase in delinquency rates was not uniform; It was most pronounced for loans against property, home loans, and credit cards. Overall delinquencies improved for auto loans.