
Banks reported frauds worth ₹19,485 cr in H1 FY23: RBI
The number of financial frauds rose to 5,406 in the first six months of the financial year 2022-23 compared with 4,069 in the corresponding period a year ago.
The number of financial frauds rose to 5,406 in the first six months of the financial year 2022-23 compared with 4,069 in the corresponding period a year ago.
The public sector bank has turned into a multibagger stock and has risen from ₹20.8 to ₹40.9 in just nine sessions, delivering 97% return during this period.
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.
The tenure of CEOs and MDs of public sector banks has been extended to 10 years, subject to superannuation age of 60 years.
An important aspect that is often ignored by researchers proposing privatisation is the role played by PSBs in financial inclusion, says RBI.
The arguments not only lack substance and perspective, they come from "source" or non-official channels with the Centre maintaining a strategic silence.
Public sector banks continue to crowd in credit growth from private banks, says an SBI Research report.
Asset quality in the retail and micro, small and medium (MSME) segments are most impacted due to the pandemic, Ind-Ra estimates show.
Public sector banks have exposure of ₹58,524 crore to stressed enterprises.
The merger and asset quality overhang may have kept its growth tepid, but it posted a higher-than-expected net profit of ₹506 crore in the third quarter.