Unified Pension Scheme: Why UPS could be negative for PSU banks
The UPS will cost the central government ₹6,250 crore for 2.3 million employees and an additional ₹800 crore to clear arrears, amounting to ₹7,050 crore.
The UPS will cost the central government ₹6,250 crore for 2.3 million employees and an additional ₹800 crore to clear arrears, amounting to ₹7,050 crore.
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.
The weakness in PSU banks was in sync with the broader market as investors booked some profit ahead of the general election results due on June 4.
RBI has significantly enhanced the provisioning requirement during the construction phase of a project to 5%.
Rising competitive intensity for both assets and liabilities amid growing regulatory scrutiny indicate a new chapter in Indian banking, says Rahul Jain, head of India equity research, Goldman Sachs
The central bank received 501.86 complaints per branch against Paytm Payments Bank between April 1, 2022, and March 31, 2023.
Jefferies' top PSU picks are SBI, Coal India and NTPC, while BSE PSU Index PE at 12.1 times is a 40% discount to Nifty 50
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
Markets oscillated in a narrow range on the budget day and settled marginally lower as investors resorted to profit booking at higher levels.
The Nifty PSU Bank hit a fresh all-time high of 6,438.10 points today, with all 12 constituents flashing in the green zone.