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Public Sector Banks Write Off Over ₹6 Lakh Crore in Bad Loans Over Five Years

Newsmantra — Tue, 30 Dec 2025 10:13:44 +0000

MUMBAI. Public sector banks (PSBs) in India have written off non-performing
assets worth ₹6,00,037 crore over the last five financial years, according to data
released by the All India Bank Employees’ Association (AIBEA). The figures, sourced
from a Rajya Sabha Unstarred Question, cover bank-wise and year-wise write-offs
related to global operations from FY 2020–21 to FY 2024–25, along with the first
quarter of FY 2025–26. The data highlights the scale at which stressed assets have
been removed from bank balance sheets during this period.
Year-wise figures show that PSBs wrote off ₹1,33,384 crore in FY 2020–21,
₹1,15,749 crore in FY 2021–22, and ₹1,27,237 crore in FY 2022–23. Write-offs
stood at ₹1,14,622 crore in FY 2023–24 and ₹91,261 crore in FY 2024–25, while
₹17,784 crore was written off in the first quarter of FY 2025–26. Among individual
banks, State Bank of India accounted for ₹1,18,585 crore in write-offs, followed by
Union Bank of India with ₹87,618 crore, Punjab National Bank with ₹82,876 crore,
Bank of Baroda with ₹72,177 crore, and Canara Bank with ₹59,606 crore. Other
public sector banks such as Bank of India, Indian Bank, Central Bank of India,
Indian Overseas Bank, UCO Bank, Bank of Maharashtra, and Punjab and Sind Bank
also reported substantial write-offs during the same period.

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Govt extends tenure of 8 EDs in various public sector banks

Newsmantra — Wed, 17 Sep 2025 13:31:15 +0000

NEW DELHI. Govt extends tenure of 8 EDs in various public sector banks ;Nitesh Ranjan and Ramasubramanian S (both Union Bank of India), M Paramasivam (Punjab National Bank), Joydeep Dutta Roy (Indian Overseas Bank), Malladi Venkat Murali Krishna (Central Bank of India), Rajendra Kumar Saboo (UCO Bank) and Lalit Tyagi and Sanjay Vinayak Mudaliar (both Bank of Baroda).

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Bank of India Revises Deposit & Lending Rates, Waives Minimum Balance Charges for Savings Accounts

Newsmantra — Wed, 09 Jul 2025 13:24:19 +0000

Bengaluru, July 08, 2025: Responding to a softer policy-rate environment, Bank of India, one of the country’s leading public sector banks, has announced a series of key revisions across its deposit and lending products, alongside the complete waiver of minimum-balance penalties on savings accounts. These changes are aimed at aligning with market dynamics, enhancing financial flexibility, and delivering greater value to customers across segments.

Effective July 7, 2025, the Bank has rationalised interest rates on its Green Deposit and Savings Deposit products. The Green Deposit interest rate has been revised to 6.7% p.a. from 7% p.a. for a tenure of 999 days, applicable to deposits ranging from Rs. 1 lakh to less than Rs. 10 crore.

Similarly, the interest rate on Savings Deposits up to Rs. 1 lakh has been adjusted from 2.75% p.a. to 2.5% p.a. All other rates under the Savings Deposit category remain unchanged. These revisions are aligned with the recent repo rate cut and are aimed at maintaining a balanced rate structure between deposits and loans, while ensuring efficient transmission of monetary policy.

Bank of India has also reduced its home loan interest rates by 50 basis points, benefiting both new and existing borrowers. With this revision, the minimum interest rate on home loans now starts at 7.35%, depending on the borrower’s CIBIL score. The new rate structure is effective from June 16, 2025.

Further extending its customer-focused approach, the Bank has reduced the education loan interest rate to as low as 7.5% for students enrolling in reputed QHEIs (Quality High Education Institutes) across the country. Additionally, interest rates on select existing retail loans, including vehicle loans, have been cut by 50 basis points. These changes aim to make credit more affordable and accessible, while continuing to offer competitive and flexible loan options.

In a major step towards inclusive banking, Bank of India has waived charges on non-maintenance of minimum balance across all Savings Bank Account schemes with immediate effect. This initiative eliminates penalties for non-maintenance, thereby reducing the financial burden on customers, increasing account flexibility, and enhancing overall customer satisfaction.

As a trusted banking partner catering to all segments from students to senior citizens, Bank of India continues to deliver on its promise of barrier-free, customer-first banking.

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Bank of Baroda Wins Prestigious Award at National MSME Impact Awards 2025 by India SME Forum

Newsmantra — Wed, 02 Jul 2025 13:21:39 +0000

Bengaluru, July 01, 2025: Bank of Baroda (Bank), one of India’s leading public sector banks, has bagged the Gold Award under Public Sector Banks category at the “National MSME Impact Awards 2025” organised by the India SME Forum, which is India’s largest not-for-profit organisation for Micro, Small and Medium Enterprises (MSMEs), representing over 98,200 MSME members (including 9,400+women entrepreneurs).

The award was presented by Shri Kalraj Mishra, Former Hon’ble Union Minister of MSME & Former Governor of Rajasthan and Chief Patron India SME Forum in recognition of Bank of Baroda’s significant contribution towards promoting ease of doing business for entrepreneurs and enhancing access to credit for Micro, Small, and Medium Enterprises (MSMEs).

On behalf of the Bank, Shri Madhur Kumar, Chief General Manager (MSME Banking, Co-Lending and Supply Chain Finance) received the prestigious award at a ceremony held in New Delhi.

Banks were evaluated on a broad set of strategic and operational criteria, including but not limited to presence of a dedicated MSME Branch, y-o-y growth in number of loans (%), growth in average loan amount (%), average CGTMSME Loan size (Lakh), number of policies/financial products for Women/SC/ST, direct feedback and satisfaction ratings from MSMEs.

This award underscores Bank of Baroda’s commitment not only towards policy excellence but also the trust and appreciation of thousands of MSMEs on the ground.

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Banks Urged To Expedite Insolvency Resolution Process at NCLT

Newsmantra — Mon, 12 May 2025 09:40:38 +0000

Shri M. Nagaraju, Secretary of the Department of Financial Services, chaired a review meeting to assess the progress of Public Sector Banks in clearing pending cases at the National Company Law Tribunal (NCLT). The meeting focused on enhancing the effectiveness of the insolvency resolution process by urging banks to expedite CIRP filings, minimize delays, and oppose frivolous adjournments. Banks were advised to regularly review their top twenty cases, monitor those pending with the Committee of Creditors for over three months, and work to vacate stay orders to resume resolution swiftly. The session emphasized strengthening recovery efforts through coordinated actions to ensure a more efficient and robust insolvency resolution framework.

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Sitharaman Asks Public Sector Banks To Work On Deposit Mobilisation

Newsmantra — Tue, 20 Aug 2024 06:38:47 +0000

Union Finance Minister Nirmala Sitharaman chaired a review meeting on Public Sector Banks (PSBs) performance, highlighting their strong financial metrics in FY 2023-24. Key achievements include a decline in Net Non-Performing Assets (NNPAs) to 0.76%, a capital adequacy ratio of 15.55%, and a Net Interest Margin (NIM) of 3.22%. PSBs also reported a record net profit of ₹1.45 lakh crore and distributed ₹27,830 crore in dividends. Sitharaman urged banks to enhance deposit growth, especially in rural and semi-urban areas, and focus on innovative products. She also emphasized improving cyber security frameworks and increasing credit access, particularly for the economically vulnerable, urging swift implementation of recent Budget measures and adherence to RBI guidelines on loan closure processes.

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