Some public sector banks are reducing their lending rates following the meeting of their chiefs with Finance Minister P Chidambaram. During a recent meeting with the chiefs of state-run banks,
Chidambaram has asked them to reduce lending rates to spur credit growth and thereby reverse investment cycle. Recently, Bank of Maharashtra reduced Ćābase rateĆā by 25 basis points from 10.25 percent to 10.00 percent on mon
Tag: default
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Bank of Maharashtra trims base rate by 25 bps
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OBC reduces base rate by 0.25%
Following the meeting with Finance Minister P Chidambaram some of the public sector banks are reducing their base rates. The recent bank to join the club is Oriental Bank of Commerce (OBC), which trimmed its base rate by 25 basis points, or 0.25 percentage points, from 10.25 per cent to 10 per cent. The reduction in the interest rate woul
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PSU banks may benefit from falling yield on govt bonds
During April-June 2013, public sector banks may earn Rs 5,000 crore to Rs 7,000 crore owing to treasury gains as yield on government securities have declined by 60 basis points during April and May this year. This estimate on the treasury gains of state-run banks was given by Icra in a recent research report. The report noted that yield of government securities has fallen in the last two months and this will improve earnings of public
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Banks take steps to recover bad loans
Media reports indicate that several public sector banks (PSBs) are taking steps to recover loan amount from defaulting corporate borrowers by publishing their names and thereby denting their image. This move by state-run banks is a remarkable shift from their traditional approach of going soft with defaulting borrowers