Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

On Wednesday, Punjab National Bank , the third largest public lender in the country, shocked <keyword id="6355178" type="UNKNOWN" weightage="100" keywordseo="Dalal-Street">Dalal Street</keyword> after it posted the biggest net loss in India's banking history at Rs 5,367 crore. 
 
After PNB's results, the total losses of nine out of 18 public sector banks who have declared their March earnings till May 17 now stands at a whopping Rs 14,808 crore. 
 The crisis in the <keyword id="34507" type="UNKNOWN" weightage="100" keywordseo="banking-sector">banking sector</keyword> is hitting new lows every day after the Reserve Bank of India's decision to force banks to acknowledge their bad assets in their balance sheets by March 2017. 
 Aside from PNB <keyword id="6358007" type="CITY" weightage="100" keywordseo="Bank-of-Baroda">Bank of Baroda</keyword> gave a similar jolt to the Street when it reported quarterly losses of Rs 3,230 crore on Friday. The third highest loss figure this quarter has come from <keyword id="6368628" type="CITY" weightage="100" keywordseo="Syndicate-Bank">Syndicate Bank</keyword> which reported losses of Rs 2,158 crore on Tuesday. 
 
The PSU banking sector has been the biggest drag on the market so far this month with the Nifty PSU Bank index slumping 6 per cent in the past five days. 
 
The total amount of March quarter losses could still rise with six PSBs scheduled to report their numbers in the coming week with the mother of them SBI yet to come. 
 
Image credit: Indiatimes

You Searched For "PSU anks" and got 1 results

PSU banks in trouble: Nine banks report net losses of Rs 14,000 crore so far

BI India Bureau

Popular Keywords

Buying Guides