Concerned over NPAs crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said.
Tag: PSB
Although the introduction of MCLR has resulted in better transparency on fixing of lending rates, banks have frequently adjusted the spreads, thereby impeding transmission to the actual lending rates: RBI
Recruitment for bank jobs will be hit badly due to the proposed consolidation of public sector banks (PSBs), and a few banks have already put their fresh hiring plans on hold.
While PSU banks have cut MCLR the most since April 2016, when the new benchmark rate was first introduced, surprisingly foreign banks sport the lowest MCLR amongst all banks.
PNB reports Q4 loss of Rs 5,370 crore, biggest in Indian banking history. Next to follow suit is Bank of Baroda, Syndicate Bank, UCO Bank and Central Bank. Many more PSU Banks are incurring losses in Q-4, except Union Bank of India which is the only Bank to post Profit of Rs. 97 Crores. Reasons for…