#publicsectorbanks

[indextrader]

Indian PSU Banks vs Private Banks

Image by macrovector_official on Freepik The comparison between Indian Public Sector Undertaking (PSU) banks and private sector banks is a topic of considerable interest, given their distinct roles, operational strategies, and customer experiences in the Indian banking industry. Here’s a detailed explanation of the key differences between them: 1. Ownership and Governance PSU Banks: These…

[aanmeega-thagavalgal]

Anna University Recruitment 2021 – அண்ணா பல்கலைக்கழகம் வேலைவாய்ப்பு 2021..!.

[net4news]

‘PSBs sanctioned loans worth ₹50,076 cr. to A.P. since 2019’

The State government has availed of loans to the tune of ₹50,076 crore from the public sector banks (PSBs) since April 1, 2019. Answering an unstarred question raised by TDP Rajya Sabha member Kanakamedala Ravindra Kumar on Tuesday, Union Minister of State for Finance Bhagwat Karad disclosed these details. The loans were sanctioned by the PSBs to various companies and corporations owned by the State government, he said. As per the provisions of Clause (b) of Sub-section(1) of Section 21A of the Reserve Bank of India Act,1934, the RBI, by agreement with any State government, may undertake the issue of any new loans by the latter. “In accordance with the same, the RBI currently acts as a banker to all State governments except for Sikkim. Thus, new loans are issued by the RBI (and not by banks) in its capacity as a banker ,” Mr. Bhagwat Karad explained. According to him, the Bank of Baroda sanctioned ₹9450 crore, while Bank of India sanctioned ₹7,075 crore. The State Bank of India sanctioned ₹15,047 crore, while Bank of Maharashtra sanctioned ₹2,800 crore. Similarly, the Central Bank sanctioned ₹2,307 crore. Indian Bank sanctioned ₹4,300 crore. Indian Overseas Bank and Punjab National Bank sanctioned ₹1,750 crore and ₹5,797 crore respectively to the State government. Punjab and Sind Bank sanctioned ₹750 crore, while Union Bank of India sanctioned ₹6,800 crore, the Minister said. Source link Read the full article

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Finance Minister Nirmala Sitharaman aims to create a robust banking system. To achieve this, she announced a slew of mergers. Will the #BankMerger help in reviving the banking sector? #BahiKhateMeinLocha #Gdp #8YrsOfIngeniousMANKATHA #PublicSectorBanks #Merger #India #BJPForIndia #GDPFreeFall https://www.instagram.com/p/B1yw3PPpqbd/?igshid=i5vgosj0i81a

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[elite-investment-advisory-blog]

Bank of Baroda Stock gains Ahead of Merger

State owned Bank of Baroda share price surged for a third consecutive session today. The stock was quoting at Rs.129.95, up 6.91% intraday post lunch hours of trade on the NSE, while the benchmark NIFTY went up 108 points or 0.95% on the day, quoting at 11553.55 and the Sensex at 38498.72, up 365 points or 0.96%. At the same time, the Nifty Bank index rose 6.38% at 30,400.60 with major gains in bank of Baroda. Bank of Baroda stock has gained near 18.75% in last one month. The buzzing of the stock driven as govt has decided to infuse Rs5042 crore into Bank of Baroda ahead of merger of two other public sector banks viz Dena Bank & Vijaya Bank with Bank of Baroda. The amalgamation of Dena Bank & Vijaya Bank with Bank of Baroda would be effective from first April, 2019. As per the Scheme of merger, VijayaBank’s shareholders will get 402 equity shares of Bank of Baroda for every 1000 shares held. In the case of Dena Bank, its share-holders would get 110 shares for every 1000 shares of Bank of Baroda. The govt in Sept-2018 had announced the amalgamation/merger of Vijaya Bank and Dena Bank with Bank of Baroda, aiming to make the 3rd-largest lender after State bank of India and ICICI Bank. Get Nifty Future Tips , Commodity tips, Stock future tips by Best Stock Advisory Service in India. Read Article The Power of Risk/Reward and Hedging Read the full article

[personalfn-blog]

Cash Crunch: Munch On These Facts…

No Cash at ATMs.

Déjà vu?

No, it’s not demonetisation 2.0

This time it’s unintended, at least apparently.

Perhaps people are withdrawing their own money in protest of not getting Rs 15 lakh of their share!

The government says, unusually high demand for cash has left ATMs dry.

(No! ATMs might be on a detox diet)

Some insiders of the Ruling party blamed the government and RBI for mismanagement.

Meanwhile, the income tax officials have raided hoarders in states that are worst affected by the cash crunch.

You must have read media reports and also seen the floods of posts on the social networking sites.  They are confusing! While some are giving the government the benefit of doubt because numbers are on its side, others are criticising it for its lack of preparedness to handle emergencies.

Well, the irony is people who are, perhaps, least affected by the cash crunch are talking most about it.

The problem with most of us today is, we take our positions (on any issue) first, and then try to justify our stance with news reports. Heated arguments on social media forums are futile almost always, as they are externally fueled more often than not.

Now, let’s look at some numbers.

According to Mr Subhash Chandra Garg, Economic Affairs Secretary, Rs 18 lakh crore is the value of money in circulation at present. As the government claims, at the time of demonetisation, the currency circulation in the system was Rs 17.5 lakh crore.

So at least on paper, there’s no crunch in the system.

How much cash do Indians withdraw from their accounts per month?

As per official records, Rs 20,000 crore is the average cash demand per month.

This number spiked “unusually” to Rs 40,000 crore to 45,000 crore in February and March. In the first two weeks of April, aggregate cash demand was Rs 45,000 crore.

The government also claims only about 10%-12% ATMs are facing the cash crunch.

If you believe official figures, the government maintains a buffer of Rs 2.5 lakh crore to 3 lakh crore to meet emergencies. It says it has already deployed some cash from this reserve and is still left with Rs 1.75 lakh crore surplus.

Now let’s cross-check these claims…

According to the article published by The Hindu Business Line on November 24, 2017, the card-to-ATM has doubled from 2,000 cards per machine to 4,000 cards per machine in urban areas over last few years. The same article quotes Mr Himanshu Pujara, Regional Managing Director, Asia Pacific, Euronet Services India, saying, the value of ATM transactions is about Rs 2.27 lakh crore (per annum).

This, in a way, supports the government’s claim that until recently the monthly cash demand was around Rs 20,000 crore per month.

The government has shown the preparedness to increase the money printing by 5 times. With this, the government is planning to print additional Rs 70,000 to Rs 75,000 crore in a month’s time.

Nonetheless, it has dismissed all claims of a cash crunch calling the temporary shortage “a local management issue.”

Who is withdrawing excess cash?

That’s a million-dollar question and perhaps nobody knows the answer except for those who are hoarding the cash or withdrawing for meeting genuine demands.

On April 19, 2018, The Times of India reported, “in-laws of suspended senior superintendent of police” had stashed Rs 25 lakh in a bank locker. Do such stories have any connection with the current cash crunch? The government must investigate.

Now, look at regions where there’s a cash crunch.

According to the Finance Ministry, Andhra Pradesh, Madhya Pradesh, Telangana, Karnataka, and Bihar and some parts of Maharashtra have reported similar instances.

Have they been in the news or controversies for any reason and is there any connection with the cash withdrawals?

Some experts claim this is a typical behaviour one should expect in pre-election times.

While others are calling it an artificial scarcity created by the opposition parties — the ones that are busy taking the potshots at the government at present.

Some think-tanks claim Cash-in-Circulation to GDP ratio isn’t keeping pace. In other words, the supply of currency has to go up for the rise in GDP, to put it simply.

As reported by Livemint on April 18, 2019, “Contracts for the purchase of ink and security thread expired in December 2017. Bharatiya Reserve Bank Note Mudran Pvt. Ltd will now have to float new tenders for the raw materials which is likely to take one year. However, it can take special permission from the government to buy fresh supplies.”

And haven’t you heard about people losing faith in public sector banks and withdrawing money? The government is calling it the behaviour of “herd mentality”.

But still, the question remains, why there has been a sudden spurt and why has the system failed to address the incremental cash demand?

Don’t expect politicians to give you any logical answers.

Handling ATMs is a cash-intensive business and handling cash emergencies isn’t always easy. It seems the government may have a sufficient warchest, but logistical management has been its Achilles Heel.  

The cash crunch is a ‘freebie’ that will keep fueling several elections, if not appropriately addressed.

If the government wants to save its (face) and credibility, it must answer the following questions:

Have banks failed in managing liquidity requirements, or the ATM machinery? Or it’s the banking regulator that has been unable to identify abnormalities in the system?

Is there any chronic problem with the banking system?

Are only public sector banks facing the cash crunch or the private sector banks are equally affected?

What in its view should be the Cash-in-Circulation to GDP ratio given the preferences of Indians?

What stopped the regulator and the affected banks from addressing the deficit situation overnight if the availability of the money wasn’t a problem as claimed?

If the cash withdrawals are unusual, is any section of economy reporting the unusual pumping of cash? If the answer is no, then it would be a clear case of hoarding!

Have the withdrawals been made from the Jan Dhan Accounts?

What’s its assessment of the appropriate monetary base India should have at present and a few years from now?

At what rate does it expects the cash demand to go up in next 6 months, 1 year, 3 years and 5 years—adjusted with seasonality and the ups and downs in the economic growth?

Why the government feels introducing Rs 1,000 notes is detrimental, when it’s “OK” to use Rs 2,000 notes?

And finally…

Why weren’t the systems red-flagged at the first instance of “unusual” cash withdrawals?

Unless, the government answers these questions, commenting on the present cash crunch won’t be more than kick-starting the engine of conspiracy theories.

Who’s withdrawing money? Farmers don’t have money, businesses are losing money. Fraudsters have no money. Politicians’ coffers are full of money.

This post on " Cash Crunch: Munch On These Facts… " appeared first on "PersonalFN"

[myfinancialzone-blog]

Reconsider the penalty! Government asks SBI

[pgo4distributors]

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Qualification required is CA,B.Com,M.Com,MBA Job location is Pune Cognizant is Hiring CA,B.Com,M.Com,MBA . Cognizant is an American multinational corporation that provides IT services, including digital, technology, consulting, and operations services. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH.Interested and eligible candidates apply online with link provide at the bottom and check eligibility before and Eligibility details as follows: Vacancy details : Company Name: Cognizant Location :Pune Post Name: Sr. Associate Qualification: CA,B.Com,M.Com,MBA Experience :01+years of total experience  No of Vacancies:Not Disclosed by Recruiter Salary:Not Disclosed by Recruiter Job Description/Skills Required  Contribute to Account Mining & Penetration efforts with active participation in customer planning process, including strategic planning phase vs execution phase. Drive RFP Response & Improving Quality of Response (more business value focused), structures solutions in terms of scoping, effort.  Work with SME groups across domains/products to provide a complete end to end solution, including estimates and definition of critical factors, assumptions, and risks. Contribute to transformational and consulting deals vs staff augmentation. Drive oral presentations to the customers in area of domain/product expertise. Support revenue generation and be considered a FINDER. Read the full article

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Less words in less Time as on 22/11/2019. #businessnews #finance #business #ndtvprofit #zeebusiness #nifty50 #nse #bse #gst #cfalevel1 #news #stockmarket #cafinal #mba #cfa #bba #bjp #dhfl #rbi #catrolls #mohammadtabrezclasses #castudents #cajokes #zeenews #publicsectorbanks #sebi #wework #upsc (at Hyderabad, India) https://www.instagram.com/p/B5J5GwyFItq/?igshid=d7by8j80mbd3

[rnapoint-blog]

Bank Strike Likely On February 28, May Dent Services

@ http://rnapoint.com/NewsExpressView.aspx?NEID=470

[thegulfindians]

How to save public sector banks?

Saving the sinking public sector banks in India #indianeconomy #publicsectorbanks #rbi #tgi #thegulfindians

The Reserve Bank of India (RBI) has warned that the total non-performing assets (NPAs) of public sector banks in India will grow by 15.2% by the end of the current financial year. At present it is 11.3%. The warning comes in a statement issued by the Reserve Bank of India the other day.

Rating agencies and financial research institutes estimate that Indian banks will have to raise between…

[smestreet]

Public Sector Banks Disbursed MSME Loans Worth Rs 14690 Under ECLGS

#PublicSectorBanks Disbursed #MSME_Loans Worth Rs 14690 Under #ECLGS

Public Sector Banks (PSBs) have disbursed Rs 14,690.84 crore till June 11, under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, hit hard by the coronavirus-induced lockdown, said Finance Ministry.

Taking to micro-blogging site twitter, the Finance Minister’s office, on Friday, said that PSBs have sanctioned loans worth Rs 29,490.81 crore under the 100 per…