PUNJAB & SIND BANK

psbs-remain-government-captives

PSBs remain government captives

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

16 Sep 2020
banks-hiring-in-the-time-of-economic-slowdown!

Banks hiring in the time of economic slowdown!

If there is bad news about Indian economy slowing down, there is something to cheer about too as banks have not reduced hiring rather hiring more. Banks backed by technology are expanding the branch network resultantly adding more to the workforce.
There have been reports from many banks including Axis Bank, Federal Bank and many more that they are hiring more and more people. They have hired six times more of employees this financial year as compared to the last year. Going forward, some of the banks are expanding their branch network; therefore, they will need more people at different levels, with specific skill sets. They are investing in workforce backed with technology including use of artificial intelligence to identify the right candidate.

18 Nov 2019
psbs-remain-government-captives

PSBs remain government captives

By IndianMandarins 16 Sep 2020

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

banks-hiring-in-the-time-of-economic-slowdown!

Banks hiring in the time of economic slowdown!

By IndianMandarins 18 Nov 2019

If there is bad news about Indian economy slowing down, there is something to cheer about too as banks have not reduced hiring rather hiring more. Banks backed by technology are expanding the branch network resultantly adding more to the workforce.
There have been reports from many banks including Axis Bank, Federal Bank and many more that they are hiring more and more people. They have hired six times more of employees this financial year as compared to the last year. Going forward, some of the banks are expanding their branch network; therefore, they will need more people at different levels, with specific skill sets. They are investing in workforce backed with technology including use of artificial intelligence to identify the right candidate.

govt-appoints-mds-ceos-in-ten-nationalised-banks

Govt appoints MDs CEOs in ten nationalised banks

By IndianMandarins 19 Sep 2018

The NaMo administration, on Wednesday, cleared the appointment of 10 MDs & CEOs of state-owned banks of which 05 are working as Deputy MD in SBIs. Those appointed to the posts are;

  • Mrutyunjay Mahapatra (DMD, SBI) appointed MD & CEO of Syndicate Bank for a tenure ending May 2020.
  • Padmaja Chundru (DMD, SBI) appointed MD & CEO of Indian Bank for tenure ending Aug 2021.
  • Pallav Mohapatra (DMD, SBI) appointed MD & CEO of Central Bank of India for a tenure ending Feb 2021.
  • J Packirisamy (DMD, SBI) appointed MD & CEO of Andhra Bank for a period ending Feb 2021.
  • Karnam Shekhar (DMD, SBI) appointed MD & CEO of Dena Bank for a tenure ending June 2020.
  • Ch. S S Mallikarjuna Rao (ED, Syndicate Bank) appointed MD & CEO of Allahabad Bank for a period of 03 years which may be  extendable till retirement in January 2022.
  • A S Rajeev (ED, Indian Bank) appointed MD & CEO of Bank of Maharashtra for a tenure of 03 years (w.e.f 01.12.2018) which may be extended till retirement in May 2024.
  • Atul Kumar Goel (ED, Union Bank of India) appointed MD & CEO of UCO Bank (w.e.f 02 November 2018) for a period of 03 years which may be extendable up to 02 years.
  • S Harisnakar (ED, Allahabad Bank) appointed MD & CEO of Punjab & Sind Bank
  • S S Mallikarjuna Rao (ED, Syndicate Bank) appointed Allahabad Bank for a period of three years which may be extended till Jan 2022.
  • Ashok Kumar Pradhan (ED, United Bank of India) appointed MD & CEO of United Bank of India (w.e.f 01.10.2018) for a period ending May 2020.

appointment-of-md,-p&s-bank-soon:-ms-bedi,-bajaj-or-bhullar?

Appointment of MD, P&S Bank soon: Ms Bedi, Bajaj or Bhullar?

By IndianMandarins 19 Aug 2018

Indianmandarins reliably learns that three names have been in the race for the post of Managing Director of Punjab & Sindh Bank; a post which has been pying vacant for approx two years.

If some top sources are to be belived B S Bhullar (IAS:1986:UP), the incumbent DG, DGCA, is out of race now. Further Ms Satbir Bedi (IAS:1986:UT) and Jasbir Singh Bajaj (IAS:1986:TN) remains in race for the top job. Ms Bedi is currently Secretary, National Women Commission whereas Bajaj is Principal Resident Commissioner at Tamil Nadu House, New Delhi.  

Initially, three names were in reckoning but a panel comprising two names has, reportedly, been finalised and awaiting ACC ratification. Reportedly, appointment of MD for Punjab & Sindh Bank may be announced by the end of this month.

It may be mentioned that approx a dozen of Public Sector Banks is running headless. Punjab and Sind Bank is headless for over two years whereas Andhra Bank and Dena Bank are headless since January this year. Several other PSBs namely; Canara Bank, Allahabad Bank, Central Bank of India, Syndicate Bank, Bank of India, Indian Bank, Bank of Maharashtra, Bank of Baroda are all await MDs. The Allahabad Bank MD post fell vacant after the govt removed Usha Ananthasubramanian on August 13 in PNB scam.

free stat counter