Public sector banks (PSBs) have outperformed their counterparts in the Top Indian Banks Global Banks Check telebanking fraud private sector riding on the back of conservative lending practices rather than aggressive marketshare grabbing tactics.
A SundayET analysis that pitched the top-5 private banks against the top-5 PSBs shows that the turn of the economy has hit the former far more severely than it did the latter.
In 2008-09, Indias top-5 PSBs—State Bank of India, Punjab National Bank, Bank of India, Union Bank of India and Bank of Baroda—saw their gross non-performing assets (NPAs) as a proportion to advances declining by almost 40 basis points. For these banks, gross NPAs as a percentage to their advances stood at 1 .91% collectively.
On the other hand, the countrys top-5 private banks in terms of market capitalisation—ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Federal Bank—had their NPAs as a proportion to advances going up by almost 70 basis points, compared to last year. For these banks, gross NPAs as a percentage to their advances stood at 2.83% collectively.
More : economictimes.indiatimes.com
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There used to be a time when the annual meeting of the World Bank and the International Monetary Fund evoked a great deal of interest. It is a measure of their growing marginalisation in international finance that the 2006 annual meeting, due this week-end in Singapore, has elicited the equivalent of a bored yawn. For long years both advocated a greater role for the private sector as the only way to increase efficiency. Country after country has adopted their prescriptions, with the result that their own role has diminished. Private capital flows have all but completely replaced Bank lending outside
Government on Tuesday opened its arguments in the high-voltage gas row between the Ambani brothers in the Supreme Court asserting that any understanding reached between them was not binding on it as gas was not their private property.
It (gas) is not the private property of RIL or RNRL. It is a national asset, Additional Solicitor General Mohan Parasaran said while presenting the Government's case before a Bench headed by Chief Justice K G Balakrishnan.
No sooner the government commenced its arguments after RIL completed its submissions, RNRL's counsel Ram Jethmalani raised objections to the Petroleum ministry being allowed to
Indian property developer Unitech Ltd. is set to sell properties to meet loan repayments and land payments over the next few months, the companys head of corporate planning and strategy said in a telephone interview Wednesday.
We are trying to sell some of our nonresidential properties in the coming months to be able to meet our repayment obligations, R. Nagaraju said.
As growth in India slows and the credit crunch bites, a cold wind is blowing through this nations property sector: Consumers are becoming more cautious, banks have tightened lending and property prices are falling.
More : online.wsj.com
While interest rates and property prices are down quite a bit, things could be better in another six months.
In the last six months, things have changed for the better for the home buyer. Most of the cities are witnessing a sharp drop in prices, almost back to where they stood in December 2006. While most developers and brokers are unwilling to admit this, sit across the table to negotiate and you just might be surprised.
Besides property rates, interest rates have also been coming down, slowly but steadily. The recent move by all the 26 public sector banks (PSBs) to provide
