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PUBLIC SECTOR BANKS NEWS

Government may not announce capital infusion for PSU banks in Budget 2023-24

January 22, 2023 3:08 pm

The government last provided capital support to banks in 2021-22. It had earmarked Rs 20,000 crore for recapitalisation of PSBs through supplementary demands for grants.

High rate of defaults in education loans: A worrying sign for poor students

December 22, 2022 6:37 am

Poorer students in India who need a loan the most are at risk of being excluded because it doesn’t make as much business sense for banks, even in the public sector, to provide education loans. Unless the economy is enabled to create more and better jobs, forcing banks to disburse more loans will only result in higher NPAs, which, in turn, will require more taxes from the general public.

Budget may steer clear of major reforms, PSB sale

November 21, 2022 7:15 am

“The government doesn’t want to antagonise people just when so many states are going to the polls ahead of the general elections in early 2024. Political opponents could instil fear among people about reforms even though they are well-intentioned,” a senior official said.

Govt extends tenure of PSB MD, CEO to 10 years

November 19, 2022 1:03 am

The move will help the government retain talents, who rise through the ranks relatively quickly at state-run banks. It will also enable the PSBs to have relatively young leadership teams that will be in a better position to realise a longer-term vision.

Education loan: PSB target down by 13.5% in FY23 amid rising defaults

November 17, 2022 7:08 am

Banks have been slow in achieving this target, and till the end of June 2022, public-sector banks were able to disburse 19 per cent of the total target. The record was dismal for smaller-sized loans (up to Rs 7.5 lakh loans), since banks were seeing high number of defaults in that category.

Government to banks: Complaints, give more education loans

September 01, 2022 7:17 am

An official source said the issue was discussed in a meeting held last week by the Department of Financial Services (DFS) and involving representatives of all 12 PSBs.

Privatise all PSBs except SBI for now, says report

July 13, 2022 5:03 am

The report says that the government should start privatisation exercises with two strong banks.

‘Impact on efficiency, staff and consumers': PSBs asked to assess all mergers till date

July 05, 2022 2:03 am

Banks are most likely to provide data on it this week and the move may pave the way for further consolidation of banks in the country, hinted sources in the know.

RBI to review asset quality of PSBs tomorrow

May 16, 2022 6:28 am

The Governor will also review PSBs’ collection efficiencies, consumer grievance redress mechanism, digital banking units, lending to government entities, IT infrastructure and cyber security framework and any issue that the lenders may like to present

FM meets PSB chiefs, says credit demand to pick up pace

January 08, 2022 4:42 am

🔴 Sitharaman reviewed the performance of public sector banks with their chairmen & managing directors through a video link. Contact intensive sectors may require more support to help them fight against the pandemic, she noted.

PUBLIC SECTOR BANKS PHOTOS

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

May 31, 2018 7:31 pm

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

PUBLIC SECTOR BANKS VIDEOS

Prudence lay in adhering to fiscal targets: Arun Jaitley

February 29, 2016 4:47 pm

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.

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