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Bank of Maharashtra trims base rate by 25 bps

Bank of Maharashtra trims base rate by 25 bps

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 ‘base rate’ by 25 basis points from 10.25 percent to 10.00 percent on mon

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OBC reduces base rate by 0.25%

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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State-run banks take efforts to recover bad loans

State-run banks take efforts to recover bad loans

In order to recover bad loans from borrowers, some public sector banks are putting pressure on the guarantors of wilful loan defaulters. One such incidence happened when Allahabad Bank published a public notice exposing the guarantor of a borrower who defaulted on his loan. The state-run bank published the photographs of two guarantors as well in the newspapers as part of a publi

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PSU banks may benefit from falling yield on govt bonds

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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NPAs of state-run banks rise in FY13

NPAs of state-run banks rise in FY13

Owing to high interest rate and slowdown in the economy, non performing assets (NPAs) with the public sector banks (PSBs) rose about 90 basis points year-on-year during 2012-13. However, their peers in the private sector managed to avoid rise in NPAs because of better risk management and low exposure to risky

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Banks take steps to recover bad loans

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

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IAML signs pact with 8 banks on acquiring infra loans

IAML signs pact with 8 banks on acquiring infra loans

IL&FS Infra Asset Management (IAML), an Asset Management Company (AMC) signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs) for acquisition of infrastructure loans. IAML was promoted by IL&FS Financial Services (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF

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Govt optimistic on loan recovery by banks

Govt optimistic on loan recovery by banks

Some finance ministry officials expressed confidence that the public sector banks (PSBs) would achieve remarkable improvement in reducing bad loans. Bad loans of state-run banks have been rising because of the slowdown in the economy and weak financial position of

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State-run banks may get around Rs 200 bn from govt

State-run banks may get around Rs 200 bn from govt

Media reports suggest that the government may infuse around Rs 20,000 crore into state-run banks in 2013-14 so that they comply with the capital adequacy conditions of Basel III norms. It is learnt that public sector banks (PSBs) have demanded the above amount for the next financial year from

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