Banking shares mainly public sector undertakings (PSUs) have rallied by up to 13% on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) has allowed banks to beef up its capital adequacy by including certain items such as property value, foreign exchange for calculation of its Tier-I capital.

State Bank of India (SBI), Bank of Baroda (BOB), Bank of India (BOI), Indian Bank, Union Bank of India, Canara Bank and Punjab National Bank are among few rallied more than 6% on the NSE.

NEW DELHI: With public sector bank officers threatening to go on strike on Monday, the country's largest lender SBI today said a section of its employees may take part in the said agitation on February 29 -- a day when Finance Minister Arun Jaitley will present the General Budget.

In a filing to the BSE, State Bank of India (SBI) said, "All India State Bank Officers' Federation (AISBOF) being affiliated to AIBOC, will also participate in the strike.

Shares of Indian Bank were down over 3% at Rs 77.50 on the BSE after the state-owned bank registered a 85% drop in its net profit at Rs 42.30 crore in the third quarter ended December 2015 compared to Rs 277.52 crore during the same quarter last year because of higher provisioning towards bad assets.

However, total income of the bank for the quarter was marginally higher at Rs 4,438.40 crore as compared to Rs 4,321.46 crore.

NEW DELHI: State-owned Indian Bank on Thursday slashed base rate or the minimum lending rate by 0.3 per cent while United Bank of India (UBI) has reduced fixed deposit rates by up to 0.25 per cent on select maturities.

With the reduction, the base rate would be 9.95 per cent from 10.25 per cent effective June 8, Indian Bank said in a statement.

Indian Bank has posted a 2.46 per cent growth in net profit at Rs 314 crore for the quarter ended September 30, 2014, compared with Rs 307 crore in the year-ago period. Total income during the quarter under review saw a growth of 6.43 per cent to Rs 4,340 crore, against Rs 4,078 crore in the July-September 2013 quarter.

Gross non-performing assets (NPAs) of the bank rose to 4.21 per cent at Rs 6,003 crore during the quarter, compared to 3.76 per cent at Rs 4,179 crore in the year-ago quarter. Net NPA, however, stood at 2.55 per cent compared to 2.58 per cent.

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