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Lower bad loans push PSU banks’ profitability in June quarter

Public sector banks have raked in more profits in the three months ended June on the back of a persistent decline in bad loans and the trend may have a positive bearing on their balance sheets in the coming quarters. In the June quarter, (BoM) and ()

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PSBs clock 9% rise in profit to Rs 15,306 crore in April-June

All the 12 public sector banks earned a cumulative profit of about ₹15,306 crore, registering a 9.2% growth annually, despite poor showing by large lenders like and . During the April-June period of the previous fiscal, state-owned banks recorded a total profit of ₹14,013 crore, according to quarterly

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PNB aims to recover Rs 32,000 cr from bad loans resolution this fiscal

State-owned 's Managing Director A K Goel on Friday said the lender is aiming about Rs 32,000 crore-worth recoveries from the resolution of bad loans in the current fiscal. The recovery in each quarter would be higher than the slippage, he said, adding that the bank's total recovery during

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PNB puts up for sale NPA account of Burnpur Cement to recover over Rs 50 crore

State-owned Punjab National Bank (PNB) has put up for sale the account of loss-making Burnpur Cement of West Bengal and has invited bids from Asset Reconstruction Companies (ARCs) to recover loan outstanding of over Rs 50 crore. Placing the Non-Performing Account (NPA) on sale, PNB said the company owes

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Banking frauds of over Rs 100 cr see significant decline in FY’22

Frauds in the banking sector involving sums of over Rs 100 crore have declined significantly, with banks reporting cases worth Rs 41,000 crore in 2021-22 compared to Rs 1.05 lakh crore in the previous year. According to official data, the number of fraud cases in private as well as

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RBI taps top banks including HDFC, ICICI, SBI for blockchain-based trade financing project

HDFC bank, and are among nearly a dozen top lenders the central bank is engaging with to run a blockchain-based pilot project centred on trade financing. If successful, it could help prevent loan frauds by the likes of Nirav Modi and Mehul Choksi, fugitive borrowers that gamed

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