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The Nifty Realty Index and Bank Nifty surged 2.1% and 1.1%, respectively; while the benchmark Nifty ended marginally higher on Wednesday. The Nifty PSU Bank index gained 2.3% and the Nifty Private Bank index inched 0.86% higher. Canara Bank, Federal Bank and Bank of Baroda rose 2-4%.

Traders stock up banks, realty on CRR cut hopes

Data from domestic rating agency India Ratings show public sector banks issued ?37,700 crore of CDs in the first 20 days of November compared with Rs 42,800 crore during October 1-31. CD issuances by private banks in this period, meanwhile, rose to Rs 19,100 crore from Rs 16,900 crore in October.

Banks stick to certificates of deposits to keep lending

The finance ministry convened a meeting with public sector banks, government agencies, and investigative bodies like the CBI to expedite bank fraud investigations. Amendments to the Prevention of Corruption Act protect bankers’ honest decisions, fostering better cooperation. These measures, along with the IBC and NARCL, aim to improve asset quality and resolve stressed banking assets.

Ministry of Finance meets PSBs, investigative agencies on bank frauds

The Department of Financial Services (DFS) and Central Bureau of Investigation (CBI) convened a meeting with Public Sector Banks (PSBs) in New Delhi to enhance cooperation in investigating bank fraud cases. Discussions focused on expediting investigations, leveraging the IBC and NARCL, and utilizing a new asset tracing application developed by PSB Alliance to improve asset recovery and deter future fraud.

Platforms to be created for discussions with CBI to expedite investigation in bank fraud cases; FinMin holds meet with stakeholders

On the NSE, six sectors advanced and as many declined, with the Nifty PSU Bank and Realty rising the most.

Nifty, Sensex Clock Best Winning Streak In Months: Market Wrap

UCO Bank Share Price: Shares of PSU banks, including UCO Bank and Central Bank of India, rose up to 8% on Wednesday as the RBI’s rate-setting panel meeting began. Brokerages anticipate a potential cut in the cash reserve ratio (CRR), with Citi highlighting that a 50 basis point reduction would benefit PSU banks like PNB, SBI, and Bank of Baroda.

UCO Bank, other PSU bank stocks rally up to 8% as investors expect CRR cut from RBI

Finance minister Nirmala Sitharaman emphasizes the importance of a stable banking sector. The Banking Laws (amendment) Bill, 2024 allows up to four nominees per account and improves governance. The bill aims to protect investor interests and enhance customer convenience. The Lok Sabha has passed the bill by voice vote, ensuring the sector’s stability and profitability.

Public sector banks safe, stable & healthy: FM Nirmala Sitharaman

Total bank branches of scheduled commercial banks have increased by 3,792 in a year to reach 16,55,001 in September 2024.

Public Sector Banks Safe, Stable; Earn Rs 85,520 Crore Profit: Sitharaman

Finance Ministry denies merger proposal for Public Sector Banks, citing recent successful mergers and improved financial parameters.

No proposal under consideration for merger of Public Sector Banks, says Finance Ministry

The government is not considering merger of public sector banks, Minister of State for Finance Pankaj Chaudhary said on Tuesday.

Government Not Considering PSU Bank Merger: MoS Finance Pankaj Chaudhary - News18

Elara is overweight on SBI within PSU banks as its robust savings deposit metrics places it at par with large private banks. It likes GAIL and OMCs within the energy space and NTPC and Coal India among utilities.

PSU stocks: Renewable energy IPOs; defence & railway shares; NTPC, SBI, GAIL - what Elara says

Kotak PSU Bank ETF objective is to provide returns that closely correspond to the total returns of CNX PSU Bank Index, subject to tracking errors