Latest news with #PSBs
Indian Express
4 hours ago
- Business
- Indian Express
Eid al-Adha Bank Holiday 2025: Where will banks be open/closed on Bakrid, June 7? Full state-wise list
Bakrid 2025 Bank Holiday in India: According to the Reserve Bank of India's (RBI) bank holiday calendar for 2025, public-sector banks (PSBs) and private banking institutions will be closed for two days on Friday, June 6, and Saturday, June 7. Several cities of the country will observe closure on account of Eid-ul-Adha, also known as Bakrid or the Festival of Sacrifice, considered as one of the most significant Islamic festivals, celebrated with great enthusiasm by Muslims in India and worldwide. Banks in India will likewise be closed nationwide on Sunday, June 8, 2025, due to the mandatory weekly day off. The Reserve Bank of India (RBI) outlines the bank holidays in India, following the Negotiable Instruments Act, RTGS holidays, and other regional and national holidays. Additionally, banks are closed on the mandatory weekly offs: the second Saturday and Sunday of every month. According to the RBI's calendar for the fiscal year 2025, a total of 12 bank holidays have been designated for June 2025. Today's Bank Holiday on Friday, June 6: Banks in Kerala's cities of Thiruvananthapuram and Kochi will be closed on Friday, June 6, 2025, on account of Bakrid or Id-ul-Zuha (Bakrid); however, it is open in the rest of the cities. Bank Holiday on Saturday, June 7: Banks in several Indian cities will observe a closure tomorrow, Saturday, June 7, on account of Eid al-Adha or Bakrid, as mentioned below. Agartala Aizawl Belapur Bengaluru Bhopal Bhubaneswar Chandigarh Chennai Dehradun Guwahati Hyderabad (AP & Telangana) Imphal Jaipur Jammu Kanpur Kohima Kolkata Lucknow Mumbai Nagpur New Delhi Panaji Patna Raipur Ranchi Shillong Shimla Srinagar However, since it's the first Saturday of the month, banks in Ahmedabad, Gangtok, Itanagar, Kochi, and Thiruvananthapuram will be open and operational, as usual. It's important to note that despite the physical closure of bank branches in Tripura, essential banking services will continue to be available through digital and self-service platforms: Customers are encouraged to plan any in-branch visits around the holiday and make use of online options for uninterrupted banking.
Yahoo
3 days ago
- Business
- Yahoo
Channel 4 Boss Alex Mahon Hits Back At 'Excitable' Wayne Garvie's Criticism Of In-House Plan
A row has broken out between top execs at today's Deloitte Conference, with departing Channel 4 boss Alex Mahon refusing to take Sony international chief Wayne Garvie's criticism lying down. Responding to Garvie's critique of the new Channel 4 in-house productions biz and his declaration that PSBs will need to combine in future, Mahon said two hours later at the London conference that Garvie was 'a little high on his own supply.' More from Deadline "Dramatic Shift In Commissioning" Could Be Problem For British TV Industry, Says Culture Secretary Lisa Nandy Netflix EMEA Chief Puts 'Mr Bates' Debate To Bed: "We Absolutely Would Have Commissioned It In The UK" Sony's Wayne Garvie Roasts "Ridiculous" Channel 4 In-House Plan: "It Could Be Potentially Disastrous" 'Wayne got a bit excitable this morning didn't he?,' said Mahon during her keynote. 'The good news is that Channel 4 has a sensible, modest, intelligent plan for in-house production. But I do agree with Wayne that it's not easy to be a producer.' Earlier, Garvie, who oversees labels that make Doctor Who, Industry and Sex Education, described the plan for Channel 4 in-house production as 'preposterous' and 'potentially disastrous' for the nation's irreverent public broadcaster. On his notion that the 'future surely is the BBC and Channel 4 coming together,' Mahon joked that Garvie is the 'grandmaster of chess pushing all the PSBs together.' But she pushed back on this, saying that 'plurality and competition' lead to a strong broadcasting ecosystem and saying the audience would suffer if PSBs started combining. Mahon will soon exit Channel 4 to join live events firm Superstruct. Mahon was speaking at the Deloitte and Enders Media & Telecoms 2025 and Beyond Conference after the likes of Garvie, BBC boss Tim Davie, Culture Secretary Lisa Nandy and Netflix EMEA Chief Larry Tanz. Best of Deadline Everything We Know About 'Nobody Wants This' Season 2 So Far List Of Hollywood & Media Layoffs From Paramount To Warner Bros Discovery To CNN & More Everything We Know About 'Happy Gilmore 2' So Far
Time of India
4 days ago
- Business
- Time of India
PSU banks to set up common platform for debt recovery
New Delhi: Five public sector banks (PSBs), including State Bank of India , Punjab National Bank and Bank of Baroda , are working out the details and workflow for a common collection firm to recover retail and MSME loans below Rs 5 crore. The initiative will be pursued through PSB Alliance Pvt Ltd, which will develop a proof of concept, said people familiar with the development. Other state-run banks will join the project later, they said. "This will help lenders focus on core banking activities while enhancing recoveries in cases of multiple loans to a single borrower from different banks," said a senior bank executive, adding that once finalised, all banks will take a stake in the firm as in the case of National Asset Reconstruction Company Ltd. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A transformação de Fausto Silva aos 74 anos é inaceitável. Paperela Undo Only three-four PSBs currently outsource their debt collection and it is largely for retail loans, another bank executive said. "This new collection agency can shape up to be a step before banks transfer such accounts to asset reconstruction companies," he said, adding it would help banks keep their focus on recovering large amounts. The finance ministry has already directed banks to review their top 20 cases regularly and also monitor accounts where resolution plans are pending for consideration with the committee of creditors for more than three months. Live Events "The firm should be fully operational in this fiscal. We are also collaborating with banks on other initiatives," said an official from PSB Alliance, a company set up by public sector banks to provide a common platform for delivering banking services. Emails sent to banks seeking comment did not elicit any response till press time Monday. The government, through the banks' reform agenda, Enhanced Access and Service Excellence Reforms, has been nudging PSBs to scale up internal collaboration, create common utilities and improve their performance and competitiveness. Banks are already collaborating on some other common platforms which include the auction platform Banknet, door-step banking and a cloud infrastructure for PSBs. According to a Care Ratings report, as of March 31, 2025, the gross non-performing assets of PSBs improved significantly, declining by 17% from a year earlier to ₹2.94 lakh crore. It, however, noted that fresh slippages during Q4 FY25 rose 7.8% Y-o-Y to ₹25,000 crore.
Time of India
26-05-2025
- Business
- Time of India
Govt's grip on state-run banks cuts RBI's risk
The Reserve Bank of India has said that the government's ownership of public sector banks (PSBs) makes it easier to manage risk, reducing the central bank's exposure to potential losses. In a recent report on its economic capital framework, the RBI said this ownership justifies lower capital buffers for these lenders when it comes to providing emergency liquidity assistance (ELA). The central bank said that government-owned banks are seen as safer, as the government acts like a parent company with deep financial resources. 'The present review proposes to account for the inherent strength due to sovereign ownership in case of PSBs, while assessing the recovery rates,' the report stated. This strength makes public banks less risky for the RBI to support and reduces the capital the central bank needs to hold against such risks. The RBI said its stance is backed by the government's actions in the past. 'Govt had infused an amount of more than Rs 3.1 lakh crore as capital during the period since RBI's asset quality review,' it said. This capital injection has had a visible impact on the health of the banking sector. Non-performing assets (NPAs) have dropped significantly—from 9.3% in March 2019 (12.6% for PSBs) to 2.6% in September 2024 (3.3% for PSBs). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like In Uncertain Markets, This Trader Relies on Swing Setups TradeWise Learn More Undo Previously, the RBI's expert committee had assumed a uniform recovery rate of 80% on ELA against non-high quality liquid asset collateral for both public and private sector banks. However, the current review moves away from that view. This shift in approach means that the RBI now expects smaller losses when supporting PSBs. 'Accordingly, the potential LOLR losses of RBI for the quantum of loans extended to PSBs have been assumed to be lower (10%) as compared to private sector banks (20%),' the report said. This effectively halves the loss estimate for PSBs because of the implicit state guarantee. Live Events Stress-test results in the report show that even under financial strain, the RBI would face potential losses of only around 3% of its balance sheet. This assumes recovery rates of 90% for PSBs and 80% for private banks. The report also highlighted possible risks from the global operations of scheduled commercial banks. It said that in periods of financial stress, when credit lines tighten and spreads widen, the RBI might need to provide foreign currency liquidity to overseas branches of Indian lenders. This possibility 'may not be ruled out', the report said. By taking into account the backing provided by the government, the RBI is adjusting how it measures and prepares for financial risk in the banking system. This has allowed the central bank to assume lower losses on public banks, which in turn reduces the amount of capital it needs to hold in reserve—freeing up resources while still preparing for emergencies.
Time of India
25-05-2025
- Business
- Time of India
Centre's ownership of banks cuts 'lender of last resort' risk for RBI
MUMBAI: RBI has acknowledged that government's ownership of public sector banks makes its risk management job easier. In its latest economic capital framework report, RBI notes that such ownership has "demonstrably reduced the potential losses" it might face when offering emergency liquidity assistance (ELA), warranting lower capital buffers for these entities. In other words, govt-owned lenders are being treated as a safer bet - because govt behaves like a parent company with deep pockets. The "inherent strength due to sovereign ownership" makes public banks less risky for RBI to backstop and lightens the capital load it must carry to do so. "The present review proposes to account for the inherent strength due to sovereign ownership in case of PSBs, while assessing the recovery rates," the report states. This approach is justified, RBI argues, by govt's track record: "Govt had infused an amount of more than Rs 3.1 lakh crore as capital during the period since RBI's asset quality review." The capital infusion has helped bring down non-performing assets in the banking sector from a high of 9.3% (12.6% for PSBs) in March 2019 to a multi-year low of 2.6% (3.3% for PSBs) in Sept 2024. RBI noted that "the expert committee had estimated potential LOLR (lender of last resort) losses for RBI based on uniform recovery rate of 80 % on ELA against non-hiqh quality liquid assets collateral for both private and public sector banks". However, the current review departs from this. This backing translates into tangible regulatory leniency. "Accordingly, the potential LOLR losses of RBI for the quantum of loans extended to PSBs have been assumed to be lower (10%) as compared to private sector banks (20%)," the report says - halving the assumed loss thanks to the implicit state guarantee. The resulting stress-test estimates suggest that , even under duress, RBI would face potential losses of just about 3% of its balance sheet, assuming recovery rates of 90% for PSBs and 80% for private banks. The report also notes that given the global operations of scheduled commercial banks, the possibility of RBI having to provide liquidity in foreign currency to overseas branches of such lenders in periods of stress, with tightening of counterparty credit lines and widening of spreads, may not be ruled out. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
