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Nirmala Sitharaman to meet CEOs of public sector banks: Liquidity support for NBFCs to be focus

The banking system had previously registered single-digit growth of 9.9 per cent in credit offtake in the fortnight ended December 8, 2017.

PSU banks in Odisha to operate from 10 am to 4 pm from October 1

Attending the 156th SLBC meeting here, Debashis Panda, the Additional Secretary in the Union Finance Ministry asked the banks to give priority to credit disbursement in tourism, handicraft and handloom sectors which have been hit by the cyclone Fani.


FM sets Oct 15 deadline for central PSUs to clear overdue payments

The government is pushing ministries, departments and CPSEs to meet their capital expenditure in the next two quarters, as it seeks to spur economic growth which has fallen to a 25 quarter low of 5 per cent in April-June.

State-owned banks step up NPA sale to ARCs to clean balance sheet

PSBs have put up nearly Rs 10,000 crore worth of bad loan assets for sale to ARCs since July, more than double of total bad debt of Rs 4,000 crore that was sold to ARCs in April-June.

Govt announces mega merger of PSBs: Here's the full list

Public Sector Banks Merger: In what is one of the biggest mergers since the integration of SBI with five associate banks, Sitharamam announced the merger of Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and United Bank of India.

Bank employees protest against Centre's Merger move, wear black bands to work

On Friday, the BJP government at the Centre unveiled a mega plan to merge 10 public sector banks into four, to create fewer and stronger global-sized bankers as it looks to revive economic growth.


Part of Rs 70,000 crore to give weak PSBs shot in the arm

The Rs 70,000-crore recapitalisation for PSBs is higher than earlier expectations, analysts say; in the past two years, the Centre had infused Rs 160,000 crore to PSU banks.

Capital infusion: Earnings being analysed to decide fund requirement

A Finance Ministry official said the government expects the capital infusion to aid lending growth, while some banks will need funds to meet minimum regulatory requirements.

Government should not privatize public sector banks: Jairam Ramesh

Raising the issue through a special mention, former Union Minister Jairam Ramesh (Cong) said it was former Prime Minister Indira Gandhi who on July 19, fifty years ago had nationalised 14 private sector banks.

Govt mulls additional Rs 30,000 cr capital infusion in PSU banks

The government had decided to take a massive step to capitalise PSBs in a front-loaded manner, with a view to support credit growth.

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Two-day bank strike: As services are hit across India, unions call it 'total success'

The two-day strike across the nation affected banking operations, and caused inconvenience to customers given it came during the month-end.

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RBI Governor Raghuram Rajan On Bad Loans

Twenty-eight state-owned banks wrote off a total of Rs 1.14 lakh crore of bad debts between financial years 2013 and 2015 but the answer to who approves such write-offs depends on which bank you are asking. The Indian Express filed Right to Information (RTI) applications with 28 public sector banks (PSBs) and one of the […]

Prudence lay in adhering to fiscal targets: Arun Jaitley

New Delhi, Feb 29 (ANI): Finance Minister Arun Jaitley while presenting the Union Budget 2016-17 said they were confronted with stress assets problem in public sector banks. He said that public money should reach the poor and deserving without any leakage. A bill on targeted delivery of financial services using Aadhar is also to be introduced. Jaitley also said that prudence lied in adhering to fiscal targets. He also increased allocation of Rs 1, 80,000 crores under PM MUDRA Yojana. He further added that fiscal deficit for fiscal 2016-17 have been targeted at 3.5 percent. Revenue deficit estimate for Financial Year 2015-16 has been down to 2.5 percent from earlier estimates.