Private sector banks News

Banks will continue with credit costs or provisions of up to 3 percent for both the ongoing fiscal as well as the one after, according to the rating agency.

The government in October last year announced plans to infuse Rs 2.11 lakh crore into PSU banks over the next two years.

"The gross non-performing advances (GNPA) of banks rose to 9.6 per cent in March, 2017 from 7.5 per cent in March, 2016. The net NPA ratio of banks stood at 5.5 per cent in March 2017," the report said.

 Bank employee unions have called for a nation-wide strike on August 22 to protest against privatisation and merger of public sector banks, among other demands, a union leader said on Monday.

Private sector lender Bandhan Bank on Thursday reported a net profit of Rs 1,111 crore for fiscal 2017 and announced that the small business segment will be its area of focus in the coming times.

Domestic rating agency Indian Ratings and Research on Wednesday released a report on health of large public sector banks and private banks.

The Reserve Bank has issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories of individuals (natural persons) and legal entities/institutions, but retained the cap on foreign ownership at 74 percent.

The restructured and bad assets combined together have gone over 13 percent.

The banks have also been asked to replenish cash in all ATMs.

"As far as the two insurance schemes, Sukasha and Jeevan Jyoti, are concerned we have now touched a figure of 10.17 crore. In just one month and three days we have already crossed the 10 crore figure," Finance Minister Arun Jaitley told reporters here.

This is a part of the digital initiative for the bank, under which it had last year launched the 'Green PIN' scheme wherein card-users were given the PIN numbers electronically rather than in a printed kit, the official said.

Yes Bank Ltd, India`s fifth-biggest private sector lender by assets, said on Wednesday its board approved a plan to raise up to $1 billion by selling stock in local or overseas markets to shore up its capital base.

Yes Bank, India`s fourth-largest private sector lender by assets, aims to increase the proportion of retail deposits on its books to 60 percent in three years as it expands its appeal to consumers to take on its bigger rivals.

Private sector banks had gross NPAs of Rs 22,738 crore as of March 31, 2014.

The government plans a mega launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) by Prime Minister Narendra Modi on August 28, which is likely to see opening of one crore bank accounts on the first day itself.

ICICI has the largest overseas network among Indian private sector banks.