Credit profile of PSBs has worsened because of higher than anticipated stress, slower than expected pace of recovery and weak outlook for several credit intensive sectors
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Outstanding loans rose Rs 63,090 crore ($9.21 billion) to Rs 71.53 trillion in the two weeks to February 5. Non-food credit rose Rs 56,580 crore to Rs 70.45 trillion, while food credit rose Rs 6,510 crore to Rs 1.09 trillion
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The sudden deterioration in profitability at PSBs for the third quarter of 2015-16 was triggered mainly by higher provisioning following an RBI order on reclassification of troubled loans
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Standard & Poor’s Ratings Services has affirmed its ‘BBB—’ long-term rating on Union Bank of India on expectations that the government will infuse capital into the lender
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The probe into ICBC follows a slew of allegations of money laundering levied against other Chinese banks
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Private sector lender Yes Bank on Wednesday (17 February) said it has partnered UltraCash Technologies to launch payments processing through sound waves.
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Punjab National Bank is the third public sector bank to declare the grounded Kingfisher Airlines and its two guarantors as wilful defaulters
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The RBI would need to provide the information within two months, though it could keep details under 'sealed cover', a directive from the Supreme Court said
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