Public-sector banks have cut holdings by a net 290 billion rupees ($4 billion) this quarter, even as sovereign bonds are poised for their first quarterly advance in more than a year.
Public Sector Banks
Moody’s Investors Service today said that the Profitability of Indian Banks
Moody’s Investors Service today said that the profitability of Indian banks is “distinctively weak” compared with those in the association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
Govt Appoints 10 Public Sector Bank Chiefs, SBI CEO
Gold Silver Reports (GSR) – Five of the 10 newly named MDs and CEOs are working as deputy managing directors in SBI. Mahapatra and Chundru will have tenure till the date of their superannuation, i.e. May 31, 2020 and August 31, 2021, respectively, the order issued by the personnel ministry said.
Public Sector Banks Lose More Than Rs 50,000 Crore In Q4
Gold Silver Reports (GSR) – The result has been that most public sector banks have reported large losses for the quarter ended March 2018. For the 17 listed PSU banks which have reported earnings till Friday, the total net loss stood at Rs 53,000 crore compared with a net loss of Rs 4,302 crore in the same quarter last year. Most banks took some reprieve through tax write-backs which helped reduces losses to some extent.