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23 hours ago · PSU Bank Merger: Two options for bank merger. Out of the two options that the government is considering, the first option could be the merger of UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, and Central Bank of India. The second option is to merge with Union Bank of India, Canara Bank or Indian Bank according to the banking software.
Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India.
Apr 1, 2024 · P ublic sector banks in India, often referred to as the government banks of India, occupy a pivotal role in India's financial landscape, exerting a profound influence on its economic...
Feb 23, 2022 · The number of Public Sector Banks (PSB) is reduced to just 12 in India in August 2019. At present, there are over 20 Private Sector Banks and 45 Foreign Banks.
Feb 12, 2023 · Public sector banks (PSBs) have logged a robust profit growth of 65 per cent to Rs 29,175 crore during the third quarter ended December 2022, with Bank of Maharashtra (BoM) emerging as the top performer in terms of percentage growth in profit.
Jan 19, 2023 · 2022 was a blockbuster for PSU banks. The PSU Bank index emerged as the top sectoral winner in 2022, recording gains of nearly 73 percent – or about 16x the gains of the Nifty50 in 2022, as...
Jun 18, 2012 · PSU bank stocks rallied on the BSE after exit polls favoured the BJP-led NDA in the upcoming Lok Sabha election, with significant gains for Bank of Baroda, Indian Overseas Bank, SBI, Canara Bank, and Indian Bank.
Apr 10, 2024 · State-owned banks beat their private-sector peers, posting the highest gains in their market capitalisation in Q4 FY24, on the back of improved financial metrics. The government’s focus on...
Aug 30, 2022 · A review of the quarterly financial data released by the public sector lenders revealed that the Bank of Maharashtra (BoM) and State Bank of India (SBI) were in the lowest quartile for Gross Non-Performing Assets (NPAs) and Net NPAs in the June quarter.
Dec 30, 2022 · A stellar run up by PSU banks had all eyes glued towards them. We tried to analyse the factors leading to the rally and what is in store ahead. Bank Nifty gained ~28% whereas PSU banks were up 74% in the last six months (as of December 21, 2022).
