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You are here : IndiaNotes >> Research & Analysis >> Industries >> Banks >> Research

PSBs Posted Net Loss of Nearly Rs 18,000 Cr in FY16

Dynamic Equities Pvt Ltd | 04 Dec, 2016  | Follow Author | Add to my Favourites 
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PSBs - Public sector banks posted a net loss of Rs 17,993 cr in the last fiscal, displayed a government data. According to the data presented in Lok Sabha by Santosh Gangwar - Minister of State for Finance, in reply to a query, the 28 public sector banks (PSBs) reported a collective net loss of Rs 17,993 cr in 2015-16. Of them, 14 banks reported net loss in their books for 2015-16, while the remaining registered profits. Among the ones making losses, Bank of India had the highest share with Rs 6,089 cr; Bank of Baroda Rs 5,396 cr; Punjab National Bank (PNB) Rs 3,974 cr; IDBI Bank Rs 3,665 cr; Oriental Bank of Commerce Rs 2,897 cr; UCO Bank Rs 2,799 cr; Syndicate Bank Rs 1,643 cr and Central Bank of India Rs 1,418 cr.


The high level of NPAs - non-performing assets and rules by the Reserve Bank of India (RBI) to make higher provisioning for sub-standard assets were the major reasons for the banks to report big losses. However, banks have now taken various corrective measures for loan recovery and are supposed to return to profits in the next few quarters. Of those who made profits in their books last fiscal encompassed SBI at Rs 9,951 cr; State Bank of Hyderabad Rs 1,065 cr; State Bank of Bikaner & Jaipur Rs 851 cr and Andhra Bank Rs 540 cr.


Gangwar said that the Indian government has proposed to infuse Rs 70,000 cr into the PSBs out of the budgetary allocation for 4 years to 2018-19 under the Indradhanush Plan. He said that the government had already infused a sum of Rs 25,000 cr in 19 PSBs during the financial year 2015-16 and a budgetary provision of Rs 25,000 cr had been made for 2016-17. The government had allocated Rs 22,915 cr to 13 PSBs as on 19th July, 2016, he added.


The government has revised performance indicators for the banks which are basically built on enhancing efficiency and capital utilization.


 


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Dynamic Equities Pvt. Ltd. is a a SEBI Registered Investment Advisor and Stock Broker, a leading financial services provider, and one of the major players in the Equity markets in India. With an experience of over 15+ years in Stock Markets and Equity Research, they provide daily updated Support & Resistance of 4200 instruments across 93 exchanges and 56 countries globally. They have an in-house team of over 25 analysts. Under the guidance and mentorship of Mr. Shailesh Saraf, MD of Dynamic Equities Pvt. Ltd., these analysts are dedicately involved in guiding their clients and users of the website www.dynamiclevels.com for trading in the market. Mr. Shailesh Saraf has an experience of over 24 years in the financial market, especially in capital & derivatives market operations, trading, research and management related areas. Dynamic Levels is a website owned by Dynamic Equities Pvt. Ltd. The website can be reached at www.dynamiclevels.com.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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