Adani effect? PSU bank stocks fall up to 7%; SBI, PNB, BoB lead
Indian banks and NBFCs have given over ₹88,000 cr in loans to the Adani Group, with three big PSBs (SBI, PNB, Bank of Baroda) having exposure of nearly ₹40,000 cr.
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Unified Pension Scheme: Why UPS could be negative for PSU banks
The UPS will cost the central government ₹6,250 crore for 2.3 million employees and an additional ₹800 crore to clear arrears, amounting to ₹7,050 crore.
Bank NIFTY hits fresh record high, crosses 52,900 mark; private lenders lead
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.
PSU bank shares end in red; IOB, UCO Bank, Central Bank fall up to 5%
The weakness in PSU banks was in sync with the broader market as investors booked some profit ahead of the general election results due on June 4.
PSU banks end in red after RBI proposes tighter project finance rules; SBI, PNB, BoB fall up to 6%
RBI has significantly enhanced the provisioning requirement during the construction phase of a project to 5%.
Era of peak profitability and growth for Indian banks is over: Goldman Sachs’ Rahul Jain
Rising competitive intensity for both assets and liabilities amid growing regulatory scrutiny indicate a new chapter in Indian banking, says Rahul Jain, head of India equity research, Goldman Sachs
RBI received 3,513 complaints against Paytm bank in FY23; highest among payment banks
The central bank received 501.86 complaints per branch against Paytm Payments Bank between April 1, 2022, and March 31, 2023.
Jefferies bets on PSU stocks
Jefferies' top PSU picks are SBI, Coal India and NTPC, while BSE PSU Index PE at 12.1 times is a 40% discount to Nifty 50
Sensex dives 746 pts after RBI maintains status quo; rate sensitive stocks fall
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
Sensex ends 107 pts lower on budget day; PSU banks rise, Paytm crashes 20%
Markets oscillated in a narrow range on the budget day and settled marginally lower as investors resorted to profit booking at higher levels.
