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    PSBs on the margins in credit cards, but NPAs ahead by a wide margin

    Public sector banks in India are navigating the credit card market, facing challenges with high NPAs. The focus on tier-II and tier-III cities is driving credit card sales, with State Bank of India and Bank of Baroda leading in card spending through subsidiaries. Specialized skills and appealing features are crucial for success, particularly in attracting younger consumers with modern products and reward points.

    For people's man Challa Sreenivasulu Setty, the challenge is to take high-flying SBI to newer heights

    Challa Sreenivasulu Setty's upcoming role as the chairman of State Bank of India follows a period of remarkable growth under Chairman Khara's leadership, marked by a substantial increase in the bank's stock price and improved asset quality.

    Bank of Maharashtra to issue tier-II bonds, bankers say

    The bonds have a call option at the end of five years. Here is the list of deals reported so far:

    Farm loan waivers to negatively impact banks' asset quality: Macquarie

    Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.

    Rupee ends stronger on likely inflows, state-run banks' dollar sales

    The rupee rose after drifting in a 10 paisa range last week, with multiple interventions by the Reserve Bank of India that prevented it from falling to its lifetime low of 83.5750, hit in April

    Rupee ends flat; state-run banks' dollar sales aid, forward premiums slip

    ​ The Indian rupee closed nearly unchanged on Thursday as pressure due to dollar demand from local corporates was blunted by state-run banks' dollar offers, likely on behalf of the Reserve Bank of India, traders said.

    • State Bank of India to raise up to $3 bn via debt in FY25

      State Bank of India, the country's largest lender, has approved raising up to $3 billion via debt in the current financial year. The funds will be raised in one or more tranches through a public offer or a private placement of senior unsecured notes denominated in U.S. dollars or another major foreign currency. The purpose of the fund raise was not specified. This move comes as Indian banks are bolstering their capital base to meet increasing loan demand.

      Public sector banks pin hopes on new Govt for higher PLI for employees

      State-run banks are optimistic about a more lucrative performance-linked incentive (PLI) for employees and are advocating for a five-day banking week as a new coalition government takes charge. Bank unions and employee associations seek a review of the current PLI scheme, introduced in 2020, which currently offers up to 15-days salary for growth exceeding 15%. Recent wage settlements have included a 17% salary increase and proposed a five-day week, pending government approval. Banks' cumulative profit exceeded ₹1.4 lakh crore in FY 2024.

      Rupee falls most in over a year as vote count shows narrower win for Modi-led alliance

      Traders said the Reserve Bank of India (RBI) likely stepped in to limit the rupee's decline. State-run banks were spotted offering dollars near 83.50 levels, likely on behalf of the RBI. The sales were intended to plug likely outflows instead of pushing the dollar-rupee pair lower, a foreign exchange trader at a large private bank said.

      Rupee falls most in over a year as vote count shows narrower win for Modi-led alliance

      ​​ The Indian rupee slumped on Tuesday after vote counting trends signalled that Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance would win a narrower majority than was expected, spurring a selloff in local equities.

      View: Bye, Bye PSUs, Capex Plays

      State-owned companies' valuations, capital expenditure beneficiaries, and Aatmanirbhar supporters face a downturn post electoral results, impacting markets. Midcap and smallcap indices plummet over 10% amid fears of excessive valuations. The market's euphoria pre-elections led to inflated valuations, especially in the defense sector.

      Indian rupee closes little changed ahead of key US CPI data

      The Indian rupee sidestepped gains in its broader Asian peers to end barely changed on Wednesday, as traders awaited the U.S. consumer inflation data for cues on when the Federal Reserve may kick off rate cuts.

      Rupee inches up on foreign banks' dollar sales, uptick in Asia FX

      The dollar index was down 0.1% at 104.9, while most Asian currencies rose. The offshore Chinese yuan was up nearly 0.2%, while the Philippine peso was up 0.4%, leading gains.

      Rupee closes little changed, state-run banks' dollar offers cap downside

      ​The Indian rupee ended mostly unchanged on Tuesday as dollar sales from state-run banks aided the local unit which has remained under pressure over the last few sessions amid elevated outflows from equities.

      Rupee ends flat as foreign banks' dollar buys eat into uptick

      ​The rupee ended at 83.5075 against the U.S. dollar, barely changed from its previous close at 83.5175. The currency had risen to a high of 83.4475 early in the session, before shedding some of the gains.

      State-run cos thriving under PM Modi's leadership: FM Nirmala Sitharaman

      A high-level expert panel on floor wages in India is set to re-examine the wage rates finalised earlier, considering minimum wages notified by all states across three categories. The panel, led by SP Mukherjee, will hold its final meeting on May 27 and submit its report to the new government by June 2024. The three-year term of the expert committee, established in 2021, will end on June 30, 2024. The report is expected to outline a roadmap for periodic review of floor wages based on updated data sets and methodology changes.

      Paytm market cap nears $2.5 billion; state-run banks turn to GenAI

      Paytm’s market capitalisation is down to nearly $2.5 billion after a ninth straight session of declines on the BSE.

      Rupee ends flat as state-run banks' dollar sales offset fall in Asian peers

      The rupee closed at 83.5075 against the U.S. dollar, against 83.4875 in the previous session. It hovered in a tight band of 83.4775 and 83.5175 during the session.

      PSBs set to develop road map for deploying GenAI systems

      According to sources familiar with the matter, state-owned banks are preparing to devise a comprehensive strategy and roadmap for implementing generative artificial intelligence (GenAI) systems. Pilot projects are slated for launch within the current fiscal year.

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